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Global Support for Renewable Energy Transition

In a groundbreaking survey conducted across 15 countries, a vast majority of business executives voiced their strong endorsement for a rapid shift from fossil fuels to renewable energy sources. This survey signals what many are calling a pivotal moment in corporate attitudes toward energy sustainability.

The data published reveals some staggering insights into the perspective of medium and large enterprises about the future of energy. An overwhelming 97% of participants support the transition away from coal and other fossil fuels, with almost 78% endorsing a complete switch to a renewable energy-based electric system by 2035 or sooner.

A Shift Towards Renewables

The survey, initiated by Savanta and backed by organizations such as E3G, Beyond Fossil Fuels, and the We Mean Business Coalition, draws a clear line. The results illustrate that businesses are increasingly recognizing renewable energy as a pathway to economic growth, energy security, and long-term competitiveness. As national leaders prepare for the next round of national climate plans, the message from the corporate sector is a resolute endorsement of renewable energy.

Key Findings of the Survey

Delving deeper into the findings, here are the highlights that showcase how serious businesses are about this transition:

• - Competitiveness at Risk: Nearly half of the surveyed leaders (52%) admitted they would relocate their operations, and 49% would shift supply chains to markets boasting better access to renewable energy systems within five years.
• - Energy Security Essentials: About 75% of executives associated renewable energy with enhanced security. In Germany, 78% believe an accelerated shift to renewables would lessen Germany's reliance on volatile energy imports.
• - Economic Growth and Job Creation: An impressive 77% of respondents linked renewable energy to economic growth, while 75% also identified it as critical for job creation.
• - Rapid Transition from Coal: Almost 90% of business leaders advocating for government prioritization of renewable investments aim to cease the use of coal-generated electricity within the next decade. Additionally, 43% of medium and large-sized enterprises plan to eliminate coal from their operations by 2030, with another 27% aiming for the same by 2035.
• - No Room for New Gas: A significant 67% of executives expressed the need for gradual coal phase-out, leading to renewable energy, supply networks, and storage solutions, without investing in new gas infrastructure.

Global Implications

The survey included business leaders from diverse economies, ranging from Australia, Brazil, Canada, Germany, India, Indonesia, and Italy, to Japan, Mexico, Poland, South Africa, South Korea, Turkey, the United Kingdom, and the United States. This extensive reach highlights the universal consensus on the urgency of transitioning to sustainable energy sources.

The outcomes underscore the pressing need for governments to act, as many companies indicated they might relocate if current energy policies do not adapt to facilitate a transition to renewables. The findings of this survey provide critical insights into how businesses are proactively seeking to align themselves with the growing demand for sustainable energy while also safeguarding their economic interests for the future.

As the climate crisis looms large and fossil fuels increasingly come under scrutiny, this survey's results may very well influence upcoming climate policies. Business attitudes are instrumental in shaping a progressive approach towards achieving robust economic, environmental, and social outcomes through renewable energy adoption.