PwC Brazil released this Tuesday (18) the 28th edition of the Global CEO Survey, presenting an overview of the Energy and Utilities (EU&R) sector in Brazil. The survey shows that 48% of CEOs in the sector observed an increase in revenue in the last five years with climate investments.
However, the same proportion saw little or no return. Furthermore, 64% of executives say these climate investments led to a cost reduction or negligible impact, while 32% saw an increase in costs.
Climate change and main threats to the sector
Even with investments, climate change is seen as the main threat to the sector, a level of concern above the average among Brazilian leaders. Despite having risen from third to first place, the percentage of CEOs who point to the climate challenge as the biggest risk fell from 39% to 31% in one year.
In addition to the climate changes, other threats remain relevant in the EU&R sector:
- Technological disruption – mentioned by 26% of CEOs;
- Cyber risks – mentioned by 23% of leaders;
- Macroeconomic instability – a concern for 23% of respondents.
“It is also worth highlighting that the lack of qualified labor, despite appearing in the survey in a number lower than the national average, still remains one of the industry's concerns”, he highlights. Adriano Correia, partner and leader of the Energy and Utilities sector at PwC Brazil. This was a threat cited by 20% of industry leaders, while the national average was 30%.
Impact of Artificial Intelligence on EU&R
The survey also revealed a decline in optimism about the impact of generative AI on the sector’s profitability. While expectations increased on a global and national average, in Brazil’s EU&R sector it fell from 55% in 2024 to 48% in 2025. For the next three years, CEOs in the Energy and Utilities sector defined their main priorities with AI:
- 54% want to integrate technology into technology platforms;
- 46% intend to apply it in business processes and workflows;
- 34% aim to develop new products and services.
“These numbers show us that the adoption of AI and generative AI is a topic that remains relevant. Although the initial enthusiasm has passed, investments continue to be made,” adds Correia.
Degree of confidence in revenue growth in the sector
Industry confidence in revenue growth over the next 12 months fell from 45% in 2024 to 31% in 2025, a reduction of 14 percentage points. When looking at expectations for the next three years, the drop is even steeper, falling from 61% in 2024 to 40% in 2025.
“These are data that reflect a cautious short-term view that becomes even more pronounced in the long term,” analyzes Correia.
Concerns about business viability have also grown among industry CEOs. 51% believe their companies will not be economically viable for more than ten years without significant changes, a significant increase from 29% in 2024.
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