Benchmarking the Asian Energy Industry: Strengths and Opportunities in a Rapidly Developing Market
Asia’s energy sector continues to grow rapidly as consumer demand in the region increases. Our latest benchmarking report on energy companies reveals that Asian risk portfolios are either slightly higher or on par with countries such as India, Africa, and Latin America, but are lagging behind Western Europe, the Middle East, and Australia, particularly in areas such as software and emergency controls.
Benchmarking the Asian Energy Industry: Strengths and Opportunities in a Rapidly Developing Market reviews how energy companies in the region compare to their peers in terms of risk quality.
Key findings include:
- Asia lags behind its global peer group in terms of hardware, partly due to the inherent natural catastrophe exposures in the region and the limited amount of suitable land available for industrial sites.
- In general, Asia tends to lag slightly behind the global peer group in terms of software topics, which is partly attributed to the diversity of the region, which has no common overarching legislation.
- Nevertheless, the outlook for Asia is positive. The report references several examples of companies that are reviewing their existing management systems and structure in order to enhance their organizations and strive toward safer and more reliable operations.