Transition and Innovation: how companies shape the future of energy

The global energy transition is set to dramatically reshape the energy landscape. Currently, about 80% of global energy is derived from fossil fuels, but the IEA’s Net Zero Emissions by 2050 Scenario aims for renewable energy to constitute two-thirds of global supply by 2050. Achieving this target is no small feat and will necessitate a substantial shift in how energy companies look at their business, profoundly affecting their entire value chain—from strategy to production to the end consumer. In response to this, numerous energy companies have embarked on a transformative journey. Companies are approaching the transition in different ways, with many using innovative approaches, from shifting business models, to changing their product portfolio, to providing differentiated consumer experiences. The pressing question remains: How can energy companies adapt to this rapidly evolving energy landscape, and what strategic insights can they learn from the trailblazers who have successfully navigated this transition?