Lack of disclosure on power generation CapEx limits sector’s progress on the benchmark

Increasing investment, research and development (R&D) into low-carbon technologies, and scaling new business models is vital to enable the sector’s decarbonisation. To be fully aligned with a 1.5°C pathway, companies must be spending over 78% of their generation capital expenditure (CapEx) on low-carbon power generation. The 2021 benchmark forecasts that 40% of the assessed companies that have disclosed data on their power generation CapEx, are likely to be spending over this level by 2023. This progress, however, is compromised by the overall lack of CapEx disclosure by many companies and the continued investment and reliance on fossil fuels by large state-owned companies in particular.