The energy sector is under strain in capital markets, posing strategic challenges for investors and energy companies. Investors are dealing with two forces transforming the energy sector’s investment landscape: The sector is in a cyclical downturn because of recent poor returns and a weak commodity price outlook. That cyclical downturn is compounded by longer-term structural challenges posed by the rise of climate risk and ESG investing. How are these forces shaping energy investing? What are the opportunities in this new landscape? How can companies effectively respond to these dual challenges and win back investors? What are investors looking for?