Energy Transition is Slowing, New Global Study Confirms
BOSTON, March 7, 2024 /PRNewswire/ -- In 2023, energy companies prioritized oil and gas over new energy areas more than they did in recent years, indicating that the drive for energy transition away from fossil fuels is easing up, according to a global study and survey from L.E.K. Consulting, the global strategy consultancy.
- Energy Sector Investment in Emerging Energy Technologies Shifts as Oil & Gas Industry Refocuses on Core and Decarbonizing Oilfield; Solar and Wind Continue to Grow
BOSTON, March 7, 2024 /PRNewswire/ -- In 2023, energy companies prioritized oil and gas over new energy areas more than they did in recent years, indicating that the drive for energy transition away from fossil fuels is easing up, according to a global study and survey from L.E.K. - Global Energy Study includes qualitative insights from about 40 roundtable discussions as well as quantitative survey data involving about 300 senior executives in multiple sectors of the energy industry, including oil and gas, utilities, renewables and strategic investors.
- "The approach to energy transition investment in the energy industry is moving from aspiration to moderation," said study coauthor Franco Ciulla, Managing Director at L.E.K.
- "While many energy companies are shifting their current priorities when it comes to energy transition, it certainly isn't ending.