Regional realities The scale and importance of these societal benefits will differ by region, shaped by local resource endowments, the cost of alternatives, infrastructure readiness and policy priorities. No single pathway will dominate everywhere. Applying a regional lens is therefore essential to evaluate competitiveness and guide investment towards the most competitive and high-impact options.Regions with abundant, low-cost renewable electricity or sustainable biomass are naturally positioned as supply hubs, exporting to global markets and creating new commercial opportunities. Many regions dependent on fossil fuel imports view clean fuels as a strategic lever to diversify energy supply and reduce exposure to price volatility. Regional strategies are emerging – as reflected in current investment levels (see Figure 4). Many regions dependent on fossil fuel imports view clean fuels as a strategic lever to diversify energy supply and reduce exposure to price volatility. Estimated investment levels in clean fuel production capacity in 2025, by region FIGURE 4 Notes: Investment includes biogases, bio-SAF, biodiesel and renewable diesel, bioethanol, low-emission hydrogen-based fuels and CCUS to reduce fossil fuel carbon intensity. Only includes investment in clean fuel production, excluding enabling infrastructure (e.g. pipelines, fuel terminals, storage). Source: IEA World Energy Investment 2025.18 Europe, South Korea and Japan are examples of regions developing as key demand centres through ambitious targets for biofuels and clean hydrogen derivatives to reduce reliance on fossil fuel imports.19,20,21 Regions such as North America, South America and the Middle East are leveraging natural resource advantages to expand production for both domestic use and exports. Given clean fuels and feedstocks will be traded internationally, interoperable certification and standards are essential for credibility, fungibility and effective markets. Recent examples of possible fraud concerns from waste oil imports to Europe underscore the need for robust, transparent systems that can travel effectively across borders.Clean fuel shar e of total clean energy investment, by r egion (%) Latin America 5.8%North America 1.4% Europe 1.3% Middle East 3.9% China 1.0% Other Eurasia 0.2% South East Asia 5.2% Other APAC 0.5% India 0.5% Africa 0.2%The r ole of clean fuels and r elevant pathways will dif fer by r egion, depending on local str engths, resour ces and demand dynamics, including cost of alter natives. Estimated investment levels in clean fuel pr oduction in 2025, by r egion: $1-3 billion $3-5 billion >$5 billion <$1 billion Fuelling the Future: How Business, Finance and Policy can Accelerate the Clean Fuels Market 11

Fuelling the Future 2026