The global energy system is changing – but the decisions ahead are not straightforward, and not without consequence.
As governments, investors and businesses pursue net-zero ambitions, the realities of delivery have come sharply into focus. Energy demand continues to rise, economies remain deeply interconnected, and geopolitics highlights the central role energy plays in economic stability, national security and everyday life.
Energy is not an abstract policy debate. It shapes the cost of living, business confidence, investment priorities and the resilience of critical infrastructure. Against this backdrop, the transition to a lower carbon future must balance decarbonisation with security of supply, affordability and long-term economic growth.
Brodies, in collaboration with Infralogic has published a new energy transition report ‘Evolution not revolution: investing in the energy transition’ exploring how that balance is considered in today’s investment market.
The energy transition is not a binary choice between traditional and renewable energy, nor is it a process that can be delivered in a straight line. It is a gradual and uneven evolution that must balance decarbonisation with energy security, affordability and economic stability.
Clare Munro, Partner, Energy & Infrastructure
A transition built on pragmatism
The energy transition is often framed as a binary choice: renewables versus hydrocarbons, future versus past. The reality being far more complex.
Renewables, grids, storage and digital infrastructure are accelerating rapidly. At the same time, conventional energy continues to underpin system resilience, support regional economies and provide the skills, capital and infrastructure critical to delivering low carbon projects at scale.
Understanding how these elements interact — and how investors are allocating capital across the whole energy system — is essential for anyone operating in or alongside the sector.
This report offers a market-facing perspective on:
Investment appetite
How investment appetite is shifting across technologies and geographies
Capital continues to flow
Why capital continues to flow into both renewable and conventional assets
Policy clarity
Where policy clarity is unlocking growth — and where uncertainty is holding it back
Geopolitical risk
How geopolitical risk is reshaping international dealmaking decisions.
Download the full report
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What the research reveals
Drawing on a survey of senior executives, investors and legal advisers, alongside in depth interviews, the report captures a market that remains strongly committed to net zero but increasingly focused on delivery, resilience and integration.
Crucially, it reflects how businesses and investors are responding to real world pressures: high capital costs, infrastructure constraints, labour market disruption and geopolitical uncertainty.
Why this matters for business today
Energy transition decisions affect investment timing, asset valuations, workforce planning and risk exposure.
For investors, developers, corporates and advisers, understanding where value lies — and where friction remains — is critical to navigating the next phase of the transition.
This report ‘Evolution not revolution: investing in the energy transition’ provides an evidence based view of how the markets is adapting, where opportunities are emerging and what enabling frameworks are required to translate ambition into operational reality. The energy transition is in motion but its success depends on how well change is managed, sequenced and financed.
Contributors
Partner
Partner
Partner
Partner
Partner
Chair & Partner
Your world, our energy insight
At Brodies, our energy practice brings together market leading expertise across the full energy lifecycle, offering clients a single, integrated legal team with deep sector insight and practical commercial focus. With decades of experience advising in conventional and renewable energy the firm supports clients operating in today’s complex energy landscape while helping them navigate the transition to a lower carbon future.
Brodies’ oil and gas lawyers are recognised for their extensive industry experience and their understanding of the commercial drivers, risks and operational realities facing operators and service companies. The firm advises on all aspects of offshore and onshore activity in the UK and internationally, from exploration and development through to production, decommissioning and strategic corporate transactions. This includes advising on acquisitions and disposals, service and supply chain contracts, and complex transformational matters, alongside day to day operational support.
Complementing this is a dedicated renewable energy practice advising developers, investors, lenders, generators, landowners and off takers across the UK on renewable and low carbon projects. Its specialist lawyers support clients throughout the entire project lifecycle, from securing land and resource rights and obtaining consents, through construction and operation, to financing, refinancing and asset sales. This end to end capability enables Brodies to deliver commercially focused solutions for projects of all scales and technologies.
Working collaboratively across disciplines, Brodies’ energy lawyers combine sector expertise with strength in corporate, real estate, planning, finance, regulatory and disputes. This joined up approach enables clients to operate confidently across traditional and renewable energy markets, supporting diversification, investment and long term growth in an evolving energy landscape.
