Jubilee Post News & Views
Dr. Seema Javed
As financial markets gyrate in line with the latest Trump tariff trade-offs, and aid agencies struggle with the savage US cuts to their funding- A landmark global poll of business executives across 15 countries shows overwhelming support for a rapid transition away from fossil fuels to renewable electricity, seeing it as key to future-proofing operations against disruptions like stranded assets and energy insecurity.
The findings land at a pivotal moment, for the International Energy Agency’s summit On 24 and 25 April 2025. The International Energy Agency ( IEA) and the UK government are jointly hosting a International summit on “Future of Energy Security”, in London. UK Secretary of State for Energy Security and Net Zero, Ed Miliband and IEA Executive Director Fatih Birol will co-host the event.
The data of the global poll 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; andan acceleration of permitting for projects will be
paramount to this aim.”
Stuart Lemmon, Global Head of Practices, Sustainability, Schneider Electric Sustainability Business, SchneiderElectric said: “As part of Schneider Electric Sustainability Business, we are dedicated to empowering our clients toinvest in renewable energy, energy efficiency, electrification and digitalisation. Companies embracing renewableenergy 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.”
Liz Minné, Director and Head of Global Sustainability at Interface said: “The polling insights show that more global
businesses understand the urgent need to shift from fossil fuels to renewables. Interface prioritises energy efficiency
and renewable energy to reduce our impact. It’s necessary if we’re going to reach our carbon negative by 2040 goal.
In fact, 80% of the energy we source at our manufacturing sites is renewable, and we’ve achieved our goal of
sourcing 100% renewable electricity in manufacturing.”
Key findings:
● 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.
Nick Mabey, CEO, E3G said: “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.”
Country highlights:
● Brazil: As the host of COP30, Brazil is under pressure to showcase climate leadership. One of the world’s largest
economies, it boasts the lowest share of fossil fuels in its energy mix. A striking 89% of business leaders support
shifting away from any remaining fossil fuels to a renewables-based electricity system by 2035, recognising the
economic and energy security benefits of renewable power. With Brazil’s hydropower sector facing increasing
climate-related risks, corporate leaders are looking to wind and solar as the next phase of the country’s energy
evolution.
● India & Indonesia: Despite massive coal sectors, 93% of Indian and 94% of Indonesian executives who support
new investment in renewables being prioritised, back moving away from coal within 10 years
● Australia: 60% of business executives identified the creation of new jobs as a primary benefit of the transition to
a renewables-based power system. If the Australian government fails to transition to renewable energy, more
than half (55%) of business executives fear organisations will face sluggish economic growth and a deteriorating
investment climate.
● Fossil fuel lobbying as a barrier: In Türkiye, where 81% of business leaders polled want a rapid phase-out of fossil
fuels and 55% want to see a renewables-based power system by 2030, corporate frustration is mounting over
fossil fuel interests blocking progress, with 39% identifying the strong lobbying influence of fossil fuel companies
as a barrier to the country transitioning away from fossil fuels.
● The gas challenge: As well as Mexico, Italy and the US, where gas dominates power generation, businesses in
South Africa, Indonesia, Canada and Australia want to see governments shift away from coal and invest directly in
renewables without moving first to gas.
● Barriers to delivery: In the UK, where business and government have a strong track record in advancing the
transition, more than three-fifths of business executives (62%) see energy security as a benefit from transitioning
away from fossil fuels to renewables. Almost one third (32%) of UK business leaders also feel the delays in
obtaining permits for renewable energy, storage or grid infrastructure projects is a barrier. Of those business
leaders surveyed in South Korea 43% want to see accelerated planning and investment into modernising the grid.
● Poland: A rapid exit from coal has the strong support of business leaders surveyed, especially those who favour
the government prioritising renewables when investing in new electricity generation projects, more than
four-fifths (81%) of whom want to see zero electricity from coal within the next 10 years.
In response to the findings, Alice Steenland, Chief Strategy, Sustainability and Marketing Officer, Signify said: “At
Signify, we’re already moving away from fossil fuels and sourcing electricity from renewables, while increasing the
energy efficiency of our lighting products. This combination – renewables plus energy efficiency – will reduce carbon
emissions, lower costs for households and companies, and create millions of local, clean energy jobs.”
Fernanda Facchini, Head of Climate Change and Circular Economy, Natura said: “We believe that the energy
transition is urgent and non-negotiable. We’ve made a lot of progress through our climate transition plans, and we
are working in a collaborative way with our suppliers to help them shift from fossil fuels to clean energy. This
movement is urgent. It needs collaboration. We need to be on the right side of history, and the action is now.”
The Highlights of the findings are :
● Clear incentives for renewable energy projects, including financing mechanisms and tax credits.
● Robust roadmaps for national transition, ensuring that the shift is both rapid and strategic.
● Investible NDCs that provide thought-through policy frameworks for the phase out of fossil fuels and upscaling of
renewables, that in turn offer long-term stability for corporate decision-making.
● Workforce retraining and job creation plans, particularly in coal-heavy economies, to ensure a just transition.
The Summit will examine the geopolitical, technological and economic factors affecting energy security at the national and international level. It will provide leaders and decision makers from around the world with an opportunity to review the trends shaping global energy security – and reflect on the tools needed to address traditional and emerging energy security risks. Key areas include changes in demand, supply and trade of major fuels; the expanding role of electricity in many energy systems; the growth of clean energy technologies and their supply chains; and the availability of the minerals and metals required for many clean energy technologies.
The writer of this article is Dr. Seema Javed, an environmentalist & a communications professional in the field of climate and energy
