- 97% of global business leaders support a swift shift to renewable electricity, with 78% backing a full transition within 10 years.
- 52% of companies plan to relocate operations and 49% supply chains if access to renewables remains inadequate.
- Energy security and economic competitiveness drive urgency, with 90% ranking access to renewable power as a top investment factor.
Global business leaders are no longer sitting on the sidelines of the clean energy transition. A powerful consensus—97% of executives across 15 global markets—now urges governments to fast-track the phase-out of fossil fuels in favor of renewables-based electricity systems, according to the landmark report Powering Up: Business Perspectives on Shifting to Renewable Electricity.
“The future belongs to renewable energy, and governments must act accordingly,” said Maria Mendiluce, CEO of the We Mean Business Coalition.
The Case for Urgency
Nearly four in five executives (78%) believe their country should complete the shift to renewable electricity by 2035 or sooner. The call is not just ideological—it’s grounded in operational strategy. Businesses increasingly associate renewables with greater energy security (75%), lower electricity bills (50%), and higher profits (42%).
“Transitioning to renewables is a sound business strategy, reducing reliance on volatile fossil fuel prices, mitigating climate-related risks, and unlocking cost savings,” noted a UK-based CEO.
Executives are not waiting for policy change. Over 70% plan to eliminate fossil fuels from their electricity mix within a decade. Furthermore, 93% are considering investments in on-site renewables, and 50% expect to complete this within five years.
“By generating our own clean energy, we can significantly reduce our reliance on traditional grid power,” added a German director.
Economic Realignment in Motion
Businesses are ready to act with or without government. Over half (52%) are prepared to relocate operations—and nearly as many their supply chains—within five years if renewable access remains limited. The cost of delay is high: executives cite exposure to volatile electricity prices (48%) and threats to competitiveness (34%) if fossil-heavy systems persist.
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“If governments don’t act, businesses will take matters into their own hands,” the report warns.
Barriers & Solutions
Despite strong intent, several barriers remain: high upfront costs (46%), insufficient renewable infrastructure (38%), and unclear policy timelines (35%) are stalling momentum.
Executives are clear on what they need:
- Financial incentives for renewable projects (41%)
- Reskilling programs for fossil fuel workers (43%)
- Redirecting fossil fuel subsidies toward clean energy (38%)
“Renewable energies like solar and wind are now cheaper than fossil fuels in many regions,” said a senior Australian executive. “They reduce dependence on imported fossil fuels, minimising geopolitical risks.”
Bottom Line for Policymakers
As governments prepare their next Nationally Determined Contributions (NDCs) ahead of COP30, the message from the boardroom is unmistakable: act decisively, or risk losing capital, talent, and trust.
“This is not a question of ideology; it is a matter of financial and operational strategy,” Mendiluce concludes.
The private sector is pivoting. The future is renewable. Governments must now keep pace.
Read the full Business perspectives on shifting to renewable electricity.
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