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Global Critical Minerals Outlook 2025 Regional snapshots
…value amid regulatory reforms to attract foreign capital. China, already dominant, is expected to grow from 45% to 50% of global refining market share. The rest of Asia is also emerging as a key player. Southeast Asia’s mining sector is set for rapid growth with a focus on nickel, cobalt and rare earths. Japan and Korea are investing in overseas assets and promoting recycling. India is moving to unlock untapped reserves. Australia, a major player in global critical mineral supply chains, continues to expand its mining activities, alongside efforts to move up the value chain, supported by robust environmental…
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Gas Market Report, Q2-2026 Executive summary
The Middle East conflict has disrupted gas market fundamentals and is changing the medium-term outlook The war in the Middle East is sending shockwaves through energy markets. The easing of fundamentals in international natural gas markets in early 2026 was abruptly disrupted by the de facto closure of the Strait of Hormuz at the beginning of March, which has created unprecedented uncertainty.The crisis has profoundly distorted short-term market fundamentals and is altering the medium-term outlook for natural gas. The loss, for the time being, of almost 20% of global LNG supply has caused strong price volatility, driving…
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Sheltering From Oil Shocks Air transport fuels
Jet fuel demand accounts for around 7% of global oil demand. Jet fuel markets look to be particularly vulnerable to an extended loss of Middle East production and exports, given limited flexibility elsewhere to increase output. 8. Avoid air travel where alternative options exist Description: Travel for work accounts for a large share (between 20% and 40%) of aviation activity. In many cases, travel for work can be temporarily substituted by virtual meetings. A reduction of around 40% of flights taken for work purposes is feasible in the short term, while maintaining productivity.Impact: Very high voluntary participation to work…
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Colombia 2023 Executive summary
Colombia has emerged as a leader in clean energy transition policy making and is an inspiring example of a fossil fuel producing country committed to climate action, based on a long-term decarbonisation pathway and a policy of energy and economic diversification and a just transition.In the context of the National Energy Plan 2020-2050, launched in 2016, Colombia started a journey to diversify its energy resources and ensure a reliable energy supply by promoting wind, solar and geothermal in the country’s electricity mix.At COP26, Colombia presented a net zero target and an ambitious Nationally Determined Contribution…
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Energy Technology Perspectives 2026 Supply chain risks and industrial competitiveness
…outside China could, in theory, have met most non-Chinese demand in 2024. Yet each of these supply chains contains several steps where production outside the largest exporter is not sufficient to meet demand, and at least one step where it covers less than one-quarter. A supply chain is only as secure as its weakest link. No major change in the security of global clean energy technology supply chains is likely before the end of the current decade, based on committed manufacturing and mining projects and projected market trends based on today’s stated policy settings. The impact of…
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Delivering Sustainable Fuels Executive summary
…by diversifying fuel supply and reducing fossil-fuel import dependence. Sustainable fuels can be produced from domestic resources in many countries, reducing exposure to volatile international oil and gas markets and supply risks. In 2024, liquid biofuels lowered transport fuel import dependence by 5-15 percentage points in relevant importing countries, and global oil demand was around 2.5 million barrels per day lower than it would have been without their contribution.Sustainable fuels can be a catalyst for economic development, particularly in emerging and developing economies. Expanding their production and use can open new income streams, drive industrial growth…
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Scaling Up Transition Finance What is transition finance?
…in its dynamic nature, shaped by the diversity of national energy pathways, the fact that types of investments needed evolve over time and the necessity of taking a view on the likely length of the transformation. However, this nature makes it difficult to define a uniform global framework, since investments essential in one region may be unnecessary in another.These complexities have historically made transition finance less prominent than green finance in global discussions. However, transition finance remains an important way to scale up energy finance and emissions reductions over the next decade. With this in mind, this report discusses…
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Scaling Up Transition Finance Financial institutions and transition finance
…enabling mechanisms that support credible action even without full planning capacity.The role of transition finance could be reaffirmed to enable progress where decarbonisation is most difficult and urgent, engaging with real-world constraints rather than avoiding them. This implies the possibility of moving away from viewing transition finance as a “second tier” of green finance and positioning it as an equal “second pillar” of global financing for emissions reductions. Public and private actors could design supportive frameworks to scale transition investments, including the safeguards that can ensure that they make a lasting contribution to strengthen energy security and deliv...
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Pledges to Progress 2025 Recommendations
The case for robust operational emissions reduction – backed by public disclosure to foster progress, transparency and accountability – has never been stronger. The increased regulatory and policy focus on reducing methane and flaring emissions from oil and gas production, the degree of cost-effectiveness in pursuing reductions, and the uptake among industry, investors and others suggest that all stakeholders are well aware of the opportunity for climate mitigation and operational efficiency.In many cases, large improvements in company scores could be achieved with better reporting and increased transparency, especially since companies are likely to be doing more than they are disclosing…
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Universal Access to Clean Cooking in Africa Outlook for clean cooking in Africa
…fold for modern bioenergy, albeit from a low starting point. These increases are meaningful for African and international markets in the long-term. Sub‑Saharan Africa’s LPG demand for cooking in 2040 is equal to 8% of today’s global LPG market – around 940 kbd. Bioethanol demand would be 6% of today’s global market. Electricity for cooking increases sub-Saharan Africa’s electricity demand by 65 TWh by 2040 – 15% of the region’s current total electricity generation. Achieving universal clean cooking access in Africa requires USD 37 billion worth of investment from now through to 2040 – more than USD 2 billion annually. But the benefits of…
