Foreword 3

Executive summary 4

1 Clean fuels: unlocking value from the new energy system 6

1.1 The role of clean fuels in energy’s future 7

1.2 Unlocking societal value – global opportunities and regional realities 9

2 Clean fuels landscape: scaling-up to the future 12

2.1 Clean fuel market and techno-economic dynamics 13

2.2 Implications for scaling-up the market in the next decade 19

3 Turning ambitions into projects: key solutions to unlock investment 20

3.1 Investment barriers to project progress 21

3.2 Three levers to unlock investment 22

Call to action 40

Appendix 41

Contributors 42

Endnotes 43