This report “Powering up: Business perspectives on shifting to renewable electricity” by E3G summarises that business executives issue a ringing endorsement (97%) for a rapid shift to renewables-based electricity, sending a powerful message to governments to quickly phase out fossil fuels from the grid. As the driving force of the global economy, the world’s corporations exert a strong influence on the pace at which fossil fuels are phased out and renewables are adopted. For companies to fully swing behind renewable electricity, however, governments need to move quickly to remove barriers to the transition.
Corporate leaders increasingly acknowledge the synergies between a fossil-free grid and long-term business success. In addition, business leaders believe that a renewables-based power system, which is predominantly driven by wind and solar, will deliver a more attractive business environment. Companies have signalled their appetite for a rapid transition; it is governments’ responsibility to deliver this via robust policies and plans. Doing so will avoid the risk of losing investment and jobs to countries where reliable renewable electricity is widely available. Countries whose governments opt not to act risk being left behind.
Access the report here
