Some 73% of global companies see energy transition among the top 3 organisational priorities and 79% of the largest firms (which are valued at over $50 billion) expect an increase in energy transition spending over the next 12 to 24 months, said an Energy Transition study conducted by Infosys in collaboration with HFS Research, a global analyst firm, on Tuesday.
Overall, operational performance and efficiency, the environmental impact of the business, and brand value were drivers that made energy transition a priority for organizations, it found.
Some 94% of energy and utilities executives are set to increase their IT spending over the next year, as per the study. Also, 82% expect an increase in spending on energy transition while 56% of organizations see themselves as road mapping or reinventing their business model for the energy transition. The remaining 44% are either waiting for other organizations to lead or for regulations to force them.
Infosys and HFS Research surveyed 313 energy transition leaders across geographies and industries for an in-depth perspective on how they are aligning their companies with the global sustainability agenda that is underpinned by the 17 United Nations Sustainable Developmental Goals.
