Three quarters (74%) of business leaders say economic uncertainty is preventing them from focusing on transition

Moreover, supply delays related to the energy transition are ranked as a top three risk by one third (32%) of executives, according to Beazley’s latest Risk & Resilience research

Tensions in the Strait of Hormuz are heightening energy security fears and pressure on businesses, while surging demand from energy-intensive technologies is making investment in  alternative energy urgent, as 74% of global executives say uncertainty is stalling transition investment.

In the face of the vast transition opportunity, Beazley’s latest Spotlight on Energy Transformation 2026 finds that converging risks are raising barriers to capital deployment and delaying investment decisions – highlighting the need to transfer risk to unlock capital.

Based on a survey of 3,500 global business leaders, the report highlights both the scale of the transition opportunity and the complex, interconnected risks in delivering it. Progress is being slowed by several key execution challenges, even as the commercial opportunity grows, including:

• Supply chain pressures, with 32% of executives citing transition-related delays as a top three macro risk
• Infrastructure constraints, as legacy systems struggle to support a new clean technology, distributed energy system
• Policy uncertainty, amid fragmented regulations and tariff pressures
• Limited access to capital, as risk and uncertainty deters investment
• A lack of historical performance data, making risks harder to price and transfer

As businesses contend with a confluence of risks that can distract from delivery, specialty insurance can help unlock investment by assessing, pricing and managing the complex, interconnected risks they face. In doing so, it gives companies and investors the confidence to commit capital and move transition projects forward.

Kelly Malynn, Head of Transition & Emerging Risk, Beazley, commented:

“From surging energy demand driven by technological transformation to the need for greater energy security and resilience, the energy transition is one of the biggest commercial opportunities of our time. But ambition is running ahead of readiness, with many businesses and infrastructure struggling to advance.

“Specialty insurance has a critical role to play. Our sector has been at the forefront of every major technological and energy shift, and now is the time for the industry to step up again. By adapting at pace, crafting the solutions, and pooling our industry’s cross-disciplinary expertise and risk data, we can support businesses to move forward at scale. It is critical that we act now, because the energy transition will not wait.”