Polling conducted across key economies and emerging markets underscores an accelerating corporate shift away from fossil fuels towards renewables
A landmark global poll of business executives across 15 countries shows overwhelming support for a rapid transition away from fossil fuels to renewable electricity.
The data indicates a global tipping point with 97% of mid-market and large company leaders backing a move away from coal and other fossil fuels, with nearly 78% supporting the shift to a renewables-based electricity system by 2035 or sooner.
As world leaders finalise their next round of national climate plans (NDCs), the message from business is unequivocal – renewable energy is the best path to economic growth, energy security, and long-term competitiveness.
The polling, conducted across key economies and emerging markets, by Savanta and commissioned by E3G, Beyond Fossil Fuels and We Mean Business Coalition, underscores an accelerating corporate shift away from fossil fuels towards renewables. Powering up: Business perspectives on shifting to renewable electricity also serves as a warning – the majority of businesses suggest they will relocate if governments fail to act.
Business leaders were surveyed in Australia, Brazil, Canada, Germany, India, Indonesia, Italy, Japan, Mexico, Poland, South Africa, South Korea, Türkiye, UK and US.
In response to the findings, Gonzalo Sáenz de Miera, Director of Climate Change and Alliances at Iberdrola said: “A rapid shift from fossil fuels to renewable power and electrification makes strong business sense and ensures energy security and resilience. Enabling policy environments for investments in clean energy, grids and storage; market mechanisms and long-term contracts to provide price stability; and an acceleration of permitting for projects will be paramount to this aim.”
Stuart Lemmon, Global Head of Practices, Sustainability, Schneider Electric Sustainability Business, Schneider Electric said: “As part of Schneider Electric Sustainability Business, we are dedicated to empowering our clients to invest in renewable energy, energy efficiency, electrification and digitalisation. Companies embracing renewable energy today are positioning themselves to succeed tomorrow – driving greater competitiveness, accelerating innovation and unlocking long-term cost savings. Renewable energy isn’t merely good sustainability practice; it’s an essential strategy for businesses committed to growth, resilience and long-term success.”
Key findings of the survey include:
● Competitiveness at stake: Half of business leaders say they will relocate their operations (52%) and supply chains (49%) to markets with better access to renewables-based power systems within five years.
● Energy security is paramount: Three-quarters (75%) of executives associate renewables with stronger energy security. 78% of German business leaders believe an accelerated renewable transition will reduce Germany’s exposure to volatile energy imports.
● Economic growth and jobs: 77% link renewables to economic growth, while 75% see them as key to job creation.
● Swift transition from coal: Nearly nine in ten (87%) of business executives who want their government to prioritise investment in renewables want them to stop using coal-fired electricity within the next decade. More than two-fifths (43%) of mid-sized and large businesses plan to transition away from using coal within their own operations by 2030, with over one quarter (27%) intending to follow suit by 2035.
● No room for new gas: Two-thirds (67%) of executives want coal phased out and replaced with renewables, grids and storage – without locking in new gas infrastructure. Even in gas-reliant countries like Mexico, Italy, and Japan, businesses favour a direct transition to renewables. In the United States which has the fourth largest proven gas deposits in the world, almost two-thirds (65%) of those polled would rather see a direct transition to renewables in a post-coal era.
● Government policy is lagging: Despite strong corporate backing, many governments lack clear transition plans. In Japan business leaders say they want clarity on renewable electricity’s role within the country’s climate plans, highlighting corporate uncertainty in the investment outlook of Japan’s future power mix. In Canada, where mine closures risk damaging communities, companies are urging workforce reskilling and targeted incentives.
“Access to affordable renewable power is now a deal breaker”
According to Nick Mabey, CEO, E3G: “In contrast to much political commentary this global poll shows nearly 80% of business executives strongly support a rapid transition to renewable power systems in the next decade. Business also wants stronger government policies to facilitate the shift to renewable electricity, access to which is a top priority when deciding where to invest. This strong endorsement of the economic and security benefits of renewables should give governments confidence to set ambitious, 1.5 degree aligned NDCs ahead of COP30.”
Maria Mendiluce, CEO, We Mean Business Coalition said: “The shift away from fossil fuels is no longer a debate – it is an economic reality driven by companies that recognise clean energy as the foundation for long-term competitive advantage, job creation, and energy price stability. Business leaders are investing in renewables and would like to do more. They need governments to accelerate planning and the removal of permitting delays for renewable energy, storage and grids.
“The business determination to build a clean energy system is a great opportunity for countries to attract investment and growth. Governments and companies need to work together, reskilling the workforce to benefit from new jobs opportunities.”
Claire Smith, Senior International Campaigner, Beyond Fossil Fuels said: “Fossil gas has delivered chaos and losses – business leaders have seen enough. Access to affordable renewable power is now a deal breaker for boardroom strategists. Politicians that fail to transition away from fossil fuels to renewables-based power in the next decade won’t just miss out on future investment; they’ll drive business out the door.”
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