Business voices have expressed overwhelming support for the transition to renewable electricity. They have backed moving away from fossil fuels and are calling on governments to remove the barriers to achieving a rapid transition. Business leaders globally recognise that energy security, economic growth, and long-term competitiveness depend on a renewables based power system.
‘Powering up: Business perspectives on shifting to renewable electricity’ is a poll of nearly 1500 business executives across 15 major global economies and emerging markets (Australia, Brazil, Canada, Germany, India, Indonesia, Italy, Japan, Mexico, Poland, South Africa, South Korea, Türkiye, UK and US). It was commissioned by E3G, Beyond Fossil Fuels and We Mean Business and conducted by Savanta. It reveals that:
Business executives globally overwhelmingly back a rapid transition to renewable power, calling for a direct shift away from fossil fuels to renewables
- 97% support the transition away from fossil fuels to renewable energy, with 78% advocating for this within 10 years.
- Two thirds of business leaders said the energy transition doesn’t need to be done via gas: 67% advocate for a direct transition from coal to renewable energy with no new gas.
- Among business executives who want their government to prioritise investment in renewables, nearly nine in ten (87%) globally also want them to stop using coal-fired electricity completely within the next decade.
Big businesses want a transition to a fully renewables-based electricity system within a decade, and are planning to switch up their operations and suppliers to ensure a competitive edge and long-term energy security.
- Nearly three-quarters of big businesses plan to transition away from fossil fuels in their own organisations within a decade. 38% expect the majority of their electricity to come from renewables in 5 years, and a further 33% in 10 years.
- Half of business leaders globally plan to relocate their operations (52%) and supply chains (49%) if their government doesn’t transition.
- Over half (55%) see energy security as the top benefit of a renewables-based electricity system – improving energy security by reducing reliance on fossil fuel imports.
- Access to renewable electricity is a top priority for 90% of business leaders when deciding on where to invest.
- 93% of organisations are considering investing in on-site renewables to aid their operations.
Businesses want governments to step up, remove the top barriers to the transition and deliver the policy support and infrastructure needed for businesses to secure renewables at speed, or risk losing investment and jobs
- Alongside cost, top barriers included: insufficient national infrastructure for storing and distributing renewable electricity (38%), insufficient availability of renewable electricity sources (37%), policy and regulatory support (36%), and absence of detailed energy policies and plans (35%).
- A frequent policy request coming from business called for the government to provide incentives, education and training programs for workers in adjacent industries to reskill for renewable energy jobs (43%).
Read the full polling report here: Powering up: Business perspectives on shifting to renewable electricity.
Report webinar
Catch up on the on-the-record webinar hosted by the E3G, We Mean Business Coalition, and Beyond Fossil Fuels, unveiling the results of our landmark international poll of business executives across 15 countries on the transition to renewable electricity.
