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Fossil fuels to low-carbon: Time to diversify?


Fossil fuels to low-carbon: Time to diversify?

Report summary

In recent weeks, we have seen a series of material low-carbon investments from some of the world’s largest fossil fuel companies. ExxonMobil is investing in carbon-capture fuel cells, Statoil continues its push into offshore wind and Total has bought a battery company to “accelerate its development in renewable energy and electricity”. But fossil fuel companies have tried moving into low-carbon energy before, only to be disappointed. Take for instance, BP’s attempt to progress “beyond petroleum” over 10 years ago. Why is this time any different? Wood Mackenzie looks at why oil, gas and coal companies are diversifying into clean energy – and how their low-carbon strategies are beginning to diverge.

What's included?

This report includes 1 file(s)

  • DiversifyIntoRenewables 15June.pdf PDF - 2.82 MB

Description

This Macroeconomics and Global Trends Insight report presents our research on this key topic, and draws out the implications for economies and commodity markets.

This report delivers a clear understanding of our unique global economic outlook and identify risks and uncertainties to watch out for.

Wood Mackenzie's global trends and macroeconomic analysis underpins all our commodity demand analysis, ensuring we continually deliver an integrated and consistent view.

Our comprehensive understanding of commodity markets gives us a unique insight into the pace of global development and the risks associated with it.

  • Executive Summary
  • Why are fossil fuel companies diversifying into low-carbon energy?
    • To seize market growth.
    • To capture market upside.
    • To mitigate business risk.
  • How are companies’ low-carbon strategies beginning to diverge?

In this report there are 4 tables or charts, including:

  • Executive Summary
  • Why are fossil fuel companies diversifying into low-carbon energy?
    • Global energy demand growth: 1995-2015 versus 2015-2035
    • Global power supply: zero-carbon versus fossil fuels
    • Year-on-Year Growth: zero-carbon fuels versus coal, oil and natural gas
  • How are companies’ low-carbon strategies beginning to diverge?
    • Diverging corporate investment strategies
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