The number of renewables majors will probably more than double this decade, with two or three oil & gas companies joining the fold, but investments will likely remain below what is needed to meet climate change needs, according to Capgemini’s latest World Energy Markets Observatory (WEMO) report.

The consultancy points to four renewable supermajors existing today, which all have shifted early from fossil fuels, leveraging regulatory support and investing massively in renewables with clear choices as to technologies and geographies: Enel, Iberdrola, Orsted and the only company outside Europe in this group, NextEra.