Click on the map to view the five-year insights for each region
Australia
Asia
Middle East & Africa
Europe
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Pace of change Organisations in Asia expect investment to flow from traditional energy to renewable, energy transition and emissions-reduction technology faster than the average (56%) of G20 countries, apart from Japan. Over the next 12 months:
%
64
China At a faster pace
%
82
India At a faster pace
%
64
Indonesia At a faster pace
%
53
Japan At a faster pace
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Main barriers in Asia to investment in renewable energy in 2025:
China Transaction costs
%
37
India Transaction costs
%
60
Indonesia Lack of infrastructure
%
64
Japan Technical risk
%
35
South Korea Technical risk
%
33
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In 2019 hydro (59%) power was the preferred renewable energy investment; in 2024 it is solar (86%).
Indonesia
Hydro
%
59
Solar
%
86
organisations across Asia have prioritised investing in solar.
In the last
five years
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View that organisations' current approach to the energy transition is likely to lead to disputes with individuals/pressure groups.
G20 average
South Korea
%
+9
%
54
%
63
Organisations in Asia are more likely than other G20 markets to consider ESG a driver for growth.
G20 average
Asia
%
+15
%
35
%
50
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China - 12%
South Korea - 9%
India - 14%
Decline in the proportion of total energy investments spent on renewables in the last five years.
There's been a decline over 5 years in the proportion of organisations in Japan (-15%), South Korea (-15%) and India (-9%) that believe investing in renewable energy, energy transition and emissions-reduction technologies is essential to strategic growth.
This contrasts with increases in China (+5%) and Indonesia (+11%).
Organisations across Asia broadly expect a faster pace of investment in renewable energy. However, across the surveyed Asian markets we find that, apart from China, they struggle more than other G20 markets with technical risk. Excluding South Korea, they are also more likely than the G20 average to consider prioritisation of environmental, social, and corporate governance (ESG) as a driver of growth of renewable energy.
China | India | Indonesia | Japan | South Korea
Asia
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Organisations in Australia expect investment to flow from traditional energy to renewable, energy transition and emissions-reduction technology over the next 12 months:
Pace of change
%
47
At a faster pace
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Transaction costs
%
33
The main barrier for Australian organisations to invest in renewable energy is:
The proportion of Australian organisations investing in renewable energy, the energy transition and emissions-reduction technologies in Australasia has halved in the last 5 years from 53% to 27%.
2019
2024
%
53
%
27
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%
32
Energy Trading 32% of Australian organisations are planning to use or invest in energy trading as a non-power generation technology in the next 5 years.
%
91
91% of Australian respondents are prepared to develop, adopt or invest in energy trading technology, placing them in the top-five most-prepared G20 countries.
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as essential to strategic growth has increased:
renewable energy
Belief in
2024
2019
%
+7
%
81
%
74
86% of Australian organisations are prepared for battery storage versus the G20 average of 82%.
%
86
The proportion of organisations in Australia that believe investments in renewable energy is essential to strategic growth has increased over the past 5 years. Organisations have shifted investment locations, as well, with the proportion that invested in Australasia having declined. Australian organisations are particularly prepared to develop, adopt, or invest in energy trading, a non-power generating technology that a third of organisations are planning on investing in over the next 5 years.
Australia
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Pace of change Organisations expect investment to flow from traditional energy to renewable, energy transition and emissions-reduction technology over the next 12 months:
%
68
France Continue at the same pace
%
60
Germany At a faster pace
%
53
Italy At a faster pace
%
49
United Kingdom At a faster pace
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Main barriers to investment in renewable energy:
France Lack of commercial incentive/economic benefits
%
26
Germany Lack of commercial incentive/economic benefits
%
33
Italy Transaction costs
%
32
United Kingdom Lack of information available to inform decision-making
%
21
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In 2019, hydro (49%) power was the preferred renewable energy investment; in 2024, it's solar (53%).
Germany
Hydro
%
49
Solar
%
53
In the last 5 years, European organisations have prioritised investing in solar, with increases in France and Germany, but with decreases in the UK and Italy.
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France - 2% Germany - 8% Italy - 10%
Decline in the proportion of total energy investments spent on renewables in the last five years.
There's been a decline over 5 years in the proportion of organisations in France (-30%), Germany (-13%) and Italy (-9%) that believe investing in renewable energy, energy transition and emissions-reduction technologies is essential to strategic growth.
as an essential to strategic growth
renewable energy
Belief in
2024
2019
%
+7
Western Europe (ie France, Germany, the Netherlands and Belgium) has become a less popular investment destination for global organisations over the past 5 years. Also, over the past 5 years the proportion of French, German and Italian organisations investing in renewables and who see it as essential for growth has significantly declined, but British organisations have increased their investments over that period. Organisations in France, Germany, and Italy need to recommit to renewable energy investments if they want to keep up with their peers globally.
France | Germany | Italy | United Kingdom
Europe
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Pace of change Organisations expect investment to flow from traditional energy to renewable, energy transition and emissions-reduction technology over the next 12 months:
%
62
Turkey At a faster pace
%
70
Saudi Arabia At a faster pace
%
64
South Africa At a faster pace
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All regions average
Middle East & Africa At a faster pace
%
54
%
65
In 2019, 42% of organisations in the Middle East & Africa said the energy transition would happen at a faster pace. That number is now 65%, while organisations in this region are currently the most optimistic (54% average across all regions).
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Main barriers to investment in renewable energy:
Turkey Lack of infrastructure
%
42
Saudi Arabia Transaction costs
%
38
South Africa Lack of infrastructure
%
40
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From 2019 to 2024, there has been a significant increase in organisations in Saudi Arabia that believe investing in renewable energy is essential for strategic growth, up from 43% to 84%
2019
2024
%
43
%
84
Organisations across the Middle East & Africa are planning to increase the proportion of their spend on renewable energy, energy transition and emissions-reduction technology by 50% over the next 5 years.
%
50
increase
Organisations in the Middle East & Africa have seen a significant growth in investments in renewable energy over the past five years. They are optimistic about the speed of the energy transition and plan to increase the proportion they spend on renewable energy, energy transition and emissions-reduction technologies over the next 5 years.
Saudi Arabia | South Africa | Turkey
Middle East & Africa
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Regional highlights: A five-year perspective
USA
Latin America
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The main barrier for American organisations to invest in renewable energy is:
%
31
Lack of government support
%
55
At a faster pace
Pace of change
Organisations in the USA expect investment to flow from traditional energy to renewable, energy transition and emissions-reduction technology over the next 12 months:
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of respondents identify them as the leading technology. This outlook is shifting, as the leading technology identified, by 38% of respondents, over the next 5 years is decentralised energy.
Smart meters
The top non-power generation technology in the United States currently is:
%
42
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Belief in renewable energy as essential to strategic growth has decreased slightly:
Decrease – 5%
2019
2024
G20 average in 2024
%
74
%
69
%
77
83% of American respondents said in 2024 that their organisations are committed to a net-zero target. This is the third-highest in the G20, and well above the G20 average of 67%.
%
83
The proportion of American respondents believing investments in renewable energy is essential to strategic growth has decreased modestly over the past 5 years. Yet, despite this, the United States has the third-highest percentage of respondents of all G20 countries (behind only South Korea and Germany) who believe that their organisation has committed to a net-zero target.
United States of America
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Pace of change Organisations in Argentina and Brazil expect investment to flow from traditional energy to renewable, energy transition and emissions-reduction technology faster than the average (56%) of G20 countries, with those in Mexico lagging slightly. Over the next 12 months:
%
60
Argentina At a faster pace
%
72
Brazil At a faster pace
%
51
Mexico At a faster pace
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Main barriers to investment in renewable energy in Latin America are:
Argentina Lack of infrastructure
%
45
Brazil Lack of government support
%
49
Mexico Lack of government support
%
41
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%
49
Electric vehicles
At 49%, electric vehicles are the leading non-power generation technology in all three Latin American countries in 2024.
Mexico – Battery energy storage systems 49% vs 21% for EVs
Brazil – Smart meters at 34% vs 24% for EVs
Argentina – EVs and energy trading tied with 27% support
However, looking ahead 5 years, electric vehicles will become less important, with the leading technologies being:
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Argentina -6% Mexico -2%
Brazil +10%
There's been a significant increase over 5 years in the proportion of organisations in Brazil (+10%) that believe investing in renewable energy, energy transition and emissions-reduction technologies is essential to strategic growth compared to slight falls in Argentina (-6%) and Mexico (-2%).
Organisations in Argentina and Brazil expect a faster pace of investment in renewable energy at a rate that is higher than the G20 average. However, organisations in Mexico are expecting a faster pace of change at a rate below the G20 average. Meanwhile, while electric vehicles are currently the most-chosen non-power generation technology, that is expected to shift over the next 5 years.
Latin America
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Regional highlights
Regional highlights
Asia
Australia
Europe
Middle East & Africa
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South America
USA
%
66
South Korea At a faster pace
At a faster pace
%
47
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