The data indicates a global tipping point with 97 per cent of mid-market and large company leaders backing a move away from coal and other fossil fuels, with nearly 78 per cent supporting the shift to a renewables-based electricity system by 2035 or sooner.
The polling by Savanta and commissioned by E3G, Beyond Fossil Fuels and We Mean Business Coalition, indicates a corporate shift away from fossil fuels towards renewables.
Powering up: Business perspectives on shifting to renewable electricity also shows that the majority of businesses will likely relocate if governments fail to act.
In a statement, global head of practices, sustainability at Schneider Electric Sustainability business, said: "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."
International opinion
In the UK, more than three-fifths of business executives (62 per cent) see energy security as a benefit from transitioning away from fossil fuels to renewables. Almost one third (32 per cent) of UK business leaders also feel the delays in obtaining permits for renewable energy, storage or grid infrastructure projects is a barrier.
Overall, half of business leaders who participated in the study said they will relocate their operations (52 per cent) and supply chains (49 per cent) to markets with better access to renewables-based power systems within five years.
Three-quarters of executives associate renewables with stronger energy security, 77 per cent link renewables to economic growth, and 75 per cent see them as key to job creation.
In total, 87 per cent 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 per cent) of mid-sized and large businesses plan to transition away from using coal within their own operations by 2030, with over one quarter (27 per cent) intending to follow suit by 2035.
Despite corporate backing, the survey found that many governments lack clear transition plans. In Japan, business leaders said they want clarity on renewable electricity’s role within the country’s climate plans. In Canada, where mine closures risk damaging communities, companies are urging workforce reskilling and targeted incentives.
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.”
The sample for this research consisted of 1,477 business leaders of medium and large organisations with revenues of $1m or more. Business leaders were surveyed in Australia, Brazil, Canada, Germany, India, Indonesia, Italy, Japan, Mexico, Poland, South Africa, South Korea, Türkiye, UK and US.
MORE FROM ENERGY & ENVIRONMENT
UK not prepared for climate impacts, says CCC
Perhaps a Longtitude prize to solve railway line problems. "extreme heat causing further disruption through rail buckling and power line...