Energy has reemerged as a great driving force in finance, unlocking capital for the sector and underpinning rising investment. Energy remains the lifeblood of national economies, and in a newly competitive era, both legacy fossil fuel and new cleantech assets are being funded despite higher interest rates. How this new energy era plays out will be determined by how the “capital transition” unfolds, and the availability of private and public capital for existing and emerging technologies. How does the renewed focus on energy attract capital and shareholders' interest?  How do capital markets, companies and governments manage a “capital transition”?