Global risk management and quality assurance company DNV’s 2026 Energy Industry Insights report, now in its 16th edition, reveals that nearly half of global energy leaders view political risk as the single biggest barrier to growth. The latest analysis, drawing on a survey of more than 1,000 senior energy executives across regions and sectors, shows political instability, shifting policy frameworks and trade‑policy uncertainty increasingly shaping investment and portfolio decisions.
At the same time, 69% of respondents say dependence on imported energy makes their systems vulnerable, while 52% believe the energy transition is still accelerating – down from 80% in 2022 – highlighting a more fragmented, politically‑sensitive outlook. The report underscores that governments’ focus on energy security and affordability is reshaping the global investment landscape, with many companies realigning strategies toward domestic or allied‑region assets and assets with stronger regulatory clarity.
Despite the headwinds, the analysis also points to pockets of opportunity where stable policy, clear decarbonisation timelines and grid modernisation programmes are encouraging new capital deployment. Across regions, the report suggests that the firms best able to navigate political risk, local content rules and geopolitical fragmentation are likely to lead the next phase of energy system transformation.
