Outlook 2024: Focused financing – Will it unlock capital for the transition?

In a transformative shift, the consumer’s role in meeting net-zero challenges and reducing reliance on fossil fuels is crucial

High-intensity energy users, largely within the manufacturing sector, are steadily decarbonising their operations, transitioning towards sustainable and proven renewable energy technologies such as solar and wind, and employing battery energy storage systems (BESS). In DNV’s latest annual Energy Transition Outlook (ETO), we found that manufacturing is currently the largest energy consumer at 138EJ (30%) of final energy demand in 2022. Despite substantial energy efficiency gains and increased recycling and reuse of materials and goods, the sector’s energy demand will keep growing. It will increase an average of 0.5% every year, reaching 156EJ by 2050. The success of these decarbonisation ende