New Poll Finds Tipping Point on Business Attitudes to Renewable Energy Shift  

A new poll conducted across 15 countries by Savanta and commissioned by E3G, Beyond Fossil Fuels and We Mean Business Coalition shows overwhelming support for a rapid transition away from fossil fuels to renewable electricity. 

Powering up: Business perspectives on shifting to renewable electricity 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 finalize their next round of national climate plans, this poll indicates most believe renewable energy is the best path to economic growth, energy security, and long-term competitiveness. 

Business leaders were surveyed in Australia, Brazil, Canada, Germany, India, Indonesia, Italy, Japan, Mexico, Poland, South Africa, South Korea, Türkiye, U.K. and U.S.

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; and an acceleration of permitting for projects will be paramount to this aim.”

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: Seventy-seven percent link renewables to economic growth, while 75% see them as key to job creation. 

● Swift transition from coal: Nearly nine in 10 (87%) of business executives who want their government to prioritize 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 favor 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 of 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.”

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.”

According to a press release from Global Business Poll: Powering Up, the findings present a clear mandate for policymakers, with businesses highlighting the need for:

● 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.

Methodology

The sample for this research consisted of 1,477 business leaders of medium and large organizations (with revenues of $1 million or more) across 15 global markets. The participants were selected to provide a representative view of business leadership perspectives on energy transition.

The fieldwork was executed through an online survey conducted by Savanta. The survey lasted between 10 and 15 minutes and was deployed in the local language for each individual market. This approach ensured comprehensive coverage and ease of participation across different geographical regions.