Freedom – renewables break fossil fuel stranglehold
key takeaways.
- Energy security, not emissions reduction, is now driving the transition to renewable electricity – governments are responding to the Iran energy shock by accelerating renewables rollout
- Pioneer nations have proved renewables can insulate economies from price shocks – this year, Spain absorbed a 75% rise in European gas prices with little impact on electricity costs
- Economy-wide electrification is also growing, as consumers replace fossil fuel applications – such as transport, heating, and cooking – with electric alternatives
- The energy transition should be thought of as a materials transition, where hydrocarbons are swapped for heavy upfront investment in critical materials such as lithium and copper – this is creating new potential chokepoints
- Capital is following this era-defining structural shift, with investment in the transition away from fossil fuels hitting a record USD 2.3 trillion in 2025, and clean energy equities outperforming the global market index.1
Energy is no longer simply a commodity. It has become a geopolitical weapon. Nations are investing in more resilient, independent and diversified energy systems.
The shock that didn’t land – Spain shrugs off Hormuz energy crisis
related content.
rethink sustainability.
learn more
Renewables outcompete fossil fuels
Electrification now
The transition from hydrocarbons to materials
Investing in transition materials
1 BloombergNEF Finds Global Energy Transition Investment Reached Record $2.3 Trillion in 2025, Up 8% from 2024 | BloombergNEF
2 Why the Strait of Hormuz is a geological wonder | National Geographic; The role of the Zagros orogeny in slowing down Arabia‐Eurasia convergence since ~5 Ma - Austermann - 2013 - Tectonics - Wiley Online Library
3 How the Strait of Hormuz closure affects global oil supply
4 The view from Spain's solar power tower - CNN.com
5 PROTERMOSOLAR | About solar thermal energy; Largest solar parks in Spain 2024 | Statista; Wind energy is consolidated in the Spanish electricity system, according to the 2026 Wind Yearbook • SMARTGRIDSINFO
6 Renewables shield Spanish consumers from elevated gas prices | Ember
7 Ramón Méndez Galain - Climate Breakthrough Awardee; Uruguay drought creates energy crisis
8 The Big Fix: Lessons from Uruguay - The World from PRX; LAC_Trilemma_URUGUAY_Profile_Template.pdf
9 Pakistan's Solar Revolution Is Bringing Power to the People - Yale E360
10 The hedge that paid off: How Pakistan’s solar boom is shielding it from the Hormuz crisis – Centre for Research on Energy and Clean Air; Surprise Solar Uptake in Pakistan Cushions Mideast Energy Shock - Bloomberg
11 The Perfect Storm Fueling Pakistan’s Solar Boom | World Resources Institute; The hedge that paid off: How Pakistan’s solar boom is shielding it from the Hormuz crisis – Centre for Research on Energy and Clean Air
12 Pakistan's Solar Revolution Is Bringing Power to the People - Yale E360
13 Prabowo Targets 100 GW Solar Power Buildout in Two Years; Indonesia - Energy; Global energy crisis reinforces Indonesia’s 100GW solar push, but hurdles persist | News | Eco-Business | Asia Pacific
14 Philippines fast-tracks renewables amid Iran energy price shock - PV Tech
15 The Iran War Is Driving a Global Surge of Interest in Electric Vehicles
16 Heat pump sales jump as consumers recoil at high fossil fuel prices
17 Visualizing the Scale of Global Fossil Fuel Production
18 Executive summary – Recycling of Critical Minerals – Analysis - IEA
19 Global Critical Minerals Outlook 2025 – Analysis - IEA
20 US critical minerals policy goes collaborative with FORGE - Atlantic Council; The United States to Host Critical Minerals Ministerial - United States Department of State
21 US Pitches Mineral Price Floors, Investments to Tackle China - Bloomberg
22 US Strategic Critical Minerals Reserve – Policies - IEA
23 Italy, France and Germany to lead EU critical materials stockpiling plan, sources say | Reuters; EU to curb exports of recyclable battery, rare earth waste to cut China reliance | Reuters
24 Gigantic Form Energy battery to power Google data… | Canary Media; DUKES_2025_Chapter_5.pdf
25 Lithium-Ion’s Grip on Storage Faces Wave of Novel Technologies | BloombergNEF
26 BloombergNEF Finds Global Energy Transition Investment Reached Record $2.3 Trillion in 2025, Up 8% from 2024 | BloombergNEF ; Past performance is not illustrative of future performance.
27 Conflict pushes sustainable solutions up the agenda | Lombard Odier
important information
This is a marketing communication issued by Bank Lombard Odier & Co Ltd (hereinafter “Lombard Odier”).
It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a marketing communication.
