Spending on energy R&D by listed companies, 2015-2021

Sources

World Energy Investment 2022

Notes

Values for 2021 are estimates based on reported data at time of drafting. Corporate energy R&D spending includes reported R&D expenditure by companies active in sectors that are dependent on energy technologies, including energy efficiency technologies where possible. Automotive includes technologies for fuel economy, alternative fuels and alternative drivetrains. Fuel cells are included with hydrogen. To allocate R&D spending for companies active in multiple sectors, shares of revenue by sector are used in the absence of other information. Classifications are based on the Bloomberg Industry Classification System. All publicly reported R&D spending is included, though companies domiciled in countries that do not require disclosure of R&D spending are underrepresented. Depending on the jurisdiction and company, publicly reported corporate R&D spending can include capitalised and non-capitalised costs, from basic research to product development.