New survey reveals the availability of financing threatens growth of low-carbon energy

London - May 15, 2025

The availability of financing is the most concerning geopolitical headwind threatening the growth of low-carbon energy production today, according to a new survey of nearly 500 global energy business leaders by Reuters Events, produced in partnership with global commercial insurer, AXA XL.

When energy leaders were asked what concerned them most about how geopolitical headwinds will impact the growth of low-carbon energy, almost a third (31%) said the availability of financing was their biggest concern.

Other key findings from the survey include:

• After financing, stress on supply chains was the next biggest concern for respondents from renewable energy businesses.
• In the longer term, more than half (59%) of respondents expect policy and regulatory barriers to be the most prominent blocker of low-carbon energy growth over the next five years.
• Perceived risk from climate change and extreme weather events has become more acute, with a greater share of all respondents (27%) saying such events will have a very high impact on their risk landscape, compared to last year's survey (20%).
• 68% of respondents say the expected surge in electricity demand over the coming years is most likely to be served by increasing renewables capacity, though oil and gas market participants were confident that gas will play a longer-lasting role.
• The vast majority of respondents support a fair and just transition, with 82% saying it was important to their business.

Commenting on the findings, Global Head of Energy Transition at AXA XL, Vicky Roberts-Mills, said: "The energy transition is taking place over different timelines in different time zones with many businesses evolving significantly in order to operate in the low carbon economy of the future. Data and insight on those changes is vital. That's why this survey is so important.

"With energy leaders identifying the availability of finance as a barrier to growth, it's an opportunity to highlight the critical role insurers can play in reducing the risks associated with borrowing and lending the money for large-scale energy projects, making it easier for energy leaders to get infrastructure built and operating efficiently.

"Insurance can support the energy transition and it's positive to see that insurers are increasingly being viewed as advisers throughout a project's lifecycle, in addition to being service providers."

For the full survey results, Reuters Events AXA XL Energy Transition Insurance Insights Report 2025 is available here.

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ABOUT AXA XL AXA XL, the property & casualty and specialty risk division of AXA, provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward. To learn more, visit https://www.axaxl.com

ABOUT AXA XL INSURANCE AXA XL Insurance offers property, casualty, professional, financial lines, and specialty insurance solutions to mid-sized companies through to large multinationals globally. We partner with those who move the world forward. To learn more, visit https://www.axaxl.com and Facing into risk or follow AXA XL on LinkedIn

ABOUT REUTERS EVENTS
Reuters Events is one of the largest and fastest growing events companies anywhere in the world. Reuters Events serves a diverse range of industries and places a focus on the challenges and opportunities resulting from technological and strategic innovation. Our purpose is to provide senior level executives with the trusted insight and meaningful connections they need to confidently navigate change, unlock opportunity and inform their strategy. We curate world-class events and content that are high value to our customers. For more information, visit reutersevents.com.

MEDIA RELATIONS: Sarah Samee Global Climate, Sustainability and Energy Transition Communications Lead AXA XL, a division of AXA +44 (0) 7977 662 829 sarah.samee@axaxl.com