#London #Renewable Energy #United Kingdom #Fossil Fuels #business attitudes

Global Movement Towards Renewable Energy

A groundbreaking global survey has revealed a significant shift in the attitudes of business executives towards renewable energy, indicating a critical moment for the transition away from fossil fuels. Conducted by Savanta and commissioned by E3G, Beyond Fossil Fuels, and the We Mean Business Coalition, the poll includes responses from leaders in 15 countries and showcases a resounding endorsement for renewable electricity.

Key Findings of the Poll

According to the data, 97% of mid-market and large company leaders support moving away from coal and other fossil fuels. Notably, almost 78% of these executives advocate for a shift to a renewable-based electricity system by 2035 or sooner. This resounding support underscores a growing recognition that renewable energy is crucial for economic growth, energy security, and long-term competitiveness.

Relocation Concerns

One of the most striking findings is related to the potential for relocation. A substantial 52% of business leaders indicated they would consider moving their operations, while 49% expressed they might shift their supply chains to regions with better access to renewable power within the next five years. This reflects an urgent need for local governments to enhance their renewable energy frameworks to retain businesses within their jurisdictions.

Energy Security Priority

The survey reveals that energy security is a primary concern for executives, with 75% associating renewable energy with a stronger energy framework. Among German respondents, 78% believe accelerating the transition to renewables will mitigate the country’s reliance on volatile energy imports, showcasing the critical link between energy independence and business strategy.

Economic Growth and Job Creation

The survey also found that 77% of business leaders connect renewable energy with potential economic growth, while 75% see it as a key factor in job creation. This highlights the opportunity for both ecological and economic advancements through investments in renewable technologies and infrastructure.

Phase-out of Coal

An overwhelming 87% of executives who participated in the survey would like their government to prioritize investments in renewable energy while ceasing the use of coal-fired electricity within the next decade. Furthermore, over 43% of mid-sized and large businesses plan to discontinue coal use in their operations by 2030, and more than 27% aim to achieve this by 2035.

AVoid New Gas Infrastructure

Importantly, two-thirds of executives believe that transitioning away from coal should also involve avoiding new gas infrastructure projects. This reflects a clear preference for investing directly in renewable energy solutions, grids, and storage options, which they view as sustainable alternatives without the burden of new gas dependence.

Conclusion

As businesses worldwide express an urgent need for a shift to renewable energy, they send a powerful message to governments: act now to foster an environment where renewable resources can thrive. The call for swift action and clear policies is not just about environmental responsibility but also about ensuring future economic stability and competitiveness. This pivotal moment could reshape business operations across the globe and lead to transformative changes in our energy landscape.