Natural resources industry committed to clean energy strategies despite growing investment in fossil fuels

Willis publishes results from their 2025 Global Clean Energy Survey

/EIN News/ -- LONDON, March 12, 2025 (GLOBE NEWSWIRE) -- Average spend across the natural resources industry on clean energy technologies is expected to increase by over a third in the next financial year, according to the latest global Clean Energy Survey released by Willis, a WTW business, (NASDAQ: WTW).

Against the backdrop of increased fossil fuel investment in the short and medium term, natural resources businesses have ambitious long-term investment plans in clean energy technology. The risk outlook is more complex and interconnected than ever before as companies balance conflicting priorities.

The survey received 450 responses from senior decision makers in leading energy and natural resources companies in Europe, North America, Asia-Pacific and Latin America, providing insights into the industry’s next moves in facing its evolving challenges.

Key findings include:

• 100% of natural resources companies surveyed have a clean energy strategy, but with different levels of maturity. 71% of renewables companies are at the implementing or fully implemented stage, compared to 36% for oil and gas, 63% for power and 43% for mining and metals.
  
• 63% view clean energy as a growth opportunity: The result is similar across all sectors, indicating a widespread commitment to the energy transition. This includes oil and gas businesses, with many companies investing in clean energy alongside the recent uptick in fossil fuel activity.  
  
• Investment will increase by over a third in 2025: 34% is the average expected increase in spend on clean energy technologies and infrastructure in the next financial year.
  
• Technology priorities are shifting: 51% rated solar as a top priority in the near and medium term. In the medium to long term, 61% prioritize battery storage solutions and carbon capture and storage. Geothermal and hydrogen emerged as high priorities over a 10-year horizon.
  
• Supply chain and geopolitics are top risks:   79% named supply chain disruption and 78% geopolitical issues among the greatest risks to their clean energy strategy, reflecting concerns over trade tensions and changes to subsidies and regulations at a time of increasing global volatility. 
  
• Companies face challenges getting the right insurance:   53% said blanket exclusions were an obstacle to transferring their risks, followed by limited duration / inflexibility of insurance (48%), and lack of suitable products (47%), indicating a need for markets to develop new and better solutions for clean energy risks.
  
  

Rupert Mackenzie, Global Head of Natural Resources, Willis, said: “The risk outlook is more complex and interconnected than ever before. Navigating the clean energy transition is challenging for natural resources companies, who must balance competing regulatory, financial and operational pressures. From supply chain issues to technical and performance failures, to difficulties getting affordable project financing and right-sizing insurance cover.

Maintaining stable energy supplies and healthy revenue flows are commercial priorities, but the need to participate in the clean energy transition is unavoidable. We are committed to understanding the opportunities and obstacles that natural resources companies encounter on their decarbonization journey, as we strive to empower these organizations with the insight and support they need to make informed risk decisions today that will shape a sustainable energy future.”

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Media contact

Sarah Booker:
Sarah.Booker@wtwco.com / +44 7917 722040