From Blueprint to Reality 2026

Global energy investment ($ trillion) Clean energy investment, by sector ($ trillion) Total energy investment Of which clean energy2020 2021 2022 2023 2024e2.4 1.42.7 1.71.93.1 2.02.1 1.2 10% 21%20%39%1.9 1%4% 4%2%3% 10% 19%20%38% 4%4%1%2.0 35% 20% 10% 25%1.7 4%1% 4% 1%1.2 24%6%25%36% 5%1%0.14%0.18%0.21%0.21%0.61% 4% 33% 22% 8% 26%1.4 4%1% 4% 1% 2020 2021 2022 2023 2024e+12,5% +12,5% 3.0 Energy efficiency Other end-use Renewables end-use End-useNuclear Renewables PowerClean fuels Transitional fossil fuels Fuels Electricity networks Storage InfrastructureGlobal energy investment and clean energy investment (2020-2024) FIGURES 1&2Clean energy investment now outpaces fossil fuels1.2 Making the case for low-carbon industrial clusters On the investment side, there has been significant movement. Global investment in clean energy has been rising: in 2024, clean energy accounted for over 60% of all energy investment, reaching an estimated $2 trillion.9 Nearly 40% of that went to renewable power (see Figures 1 and 2).10The story of renewables shows how robust policy frameworks and incentives can help build sustainable, self-sufficient markets capable of competing with legacy energy sources. A similar shift is now needed for clean molecules and the technologies required to decarbonize hard-to- abate sectors. Notes: 2024e means: 2024 values are estimated and may change when data is confirmed. CAGR = compounded annual growth rate. Source: International Energy Agency (IEA).11 In 2024, clean energy investment accounted for over 60% of all energy investment, reaching ~$2 trillion. Nearly 40% of that went to renewable power. From Blueprint to Reality: A Stronger Business Case for Shared Energy Infrastructure 7