The investable transition: why the energy transition will happen at the speed of economics, not ambition

The energy transition is the largest reallocation of capital in a generation — some $2.3 trillion a year globally, and some £50 billion a year in the UK alone by 2030. Alistair Ray, Chief Investment Officer of Dalmore Capital, argues that the transition will happen at the speed of economics, not ambition — and shows why, for infrastructure investors, that is the good news.

Dalmore Capital is part of Royal London Asset Management, the asset management arm of Royal London. Dalmore Capital is a UK infrastructure investment manager overseeing more than £5.7 billion of capital* on behalf of institutional investors. The firm currently holds a diversified portfolio of 128 infrastructure assets* accumulated since its formation in 2009, across Core, Core+ and PPP social infrastructure assets.

Read in full: The Investable Transition

*As at June 2026.

This is a financial promotion and is not investment advice. Past performance is not a guide to future performance. The value of investments and any income from them may go down as well as up and is not guaranteed. Investors may not get back the amount invested. Portfolio characteristics and holdings are subject to change without notice. The views expressed are those of the author at the date of publication unless otherwise indicated, which are subject to change, and is not investment advice. Past performance is not a guide to future performance. The value of investments and any income from them may go down as well as up and is not guaranteed. Investors may not get back the amount invested. Portfolio characteristics and holdings are subject to change without notice. The views expressed are those of the author at the date of publication unless otherwise indicated, which are subject to change, and is not investment advice.