23 The vulnerability assessment is a starting point for capital allocation, not a project-ranking exercise. Areas of elevated exposure point to different investment pathways: storage and diversified supply for importing markets; alternative routes and shared terminals around chokepoints; and grid, cybersecurity and flexibility investment where systems face rising power demand. 2.2 FROM EXPOSURE TO INVESTMENT OPPORTUNITY 2. It does not include investment to protect energy infrastructure against climate-related events, or to strengthen the cyber and physical security of other non-power critical infrastructure, such as refineries. UNATTRIBUTED QUOTE “THE $675 BILLION WILL GROW EXPONENTIALLY THE LONGER WE WAIT TO COLLECTIVELY RESPOND.” FIGURE 12: Illustrative Investment to Strengthen Global Energy Resilience to a Baseline Level, $US Billion Analysis by S&P Global Energy © 2026 S&P Global Establishing a global resilience baseline could require $445–675 billion S&P Global Energy analysis conducted for the ENACT Majlis illustrates that strengthening selected areas of the global energy system to a baseline level of resilience could require $445 to $675 billion in investment, as shown in Figure 12.