Since the first edition of our Research Journal in 2013, our ‘On the Road’ reports have been a regular feature. With travel restrictions now lifted, we’ve been able to resume these accounts of our research trips for this 13th edition. We try to go beyond the hyperbole of ‘net zero’, as Rob West of research consultancy Thunder Said Energy lays out the possible reality of the energy transition. We also consider fundamental shifts in the way we live, such as new payments systems or food production technologies. Spotting and understanding fundamental shifts and identifying companies with the attributes to benefit from those changes is what we do. We hope this edition gives you a strong sense of that work and our thinking.