Global Business Leaders Urge Swift Renewable Shift

Clean energy leaders are no longer on the periphery of the clean energy revolution—they're center stage now, and here's their message: the future is renewable. In the first-ever report commissioned by the Energy Council, 97% of business leaders across 15 of the world's largest markets have endorsed a necessary shift to renewable electricity, 78% an outright transition by the end of the decade. This is no green lobby, but a smart business strategy.

The report, issued by the We Mean Business Coalition, highlights a sea change in business priorities. CEOs increasingly recognize that renewable energy is critical to achieving climate targets as well as to business efficiency, profitability, and competitiveness over the long term. "The future is in renewable energy, and governments have to behave in the same direction," asserted Maria Mendiluce, CEO of the Coalition.

This overwhelming call for action comes with an immense shift in how business leaders think about energy. For the majority, the shift towards renewables is based on concrete business returns. Seventy-five percent of executives link renewable electricity with improved energy security, and half anticipate lower electricity bills, with 42% expecting increased profits as a consequence. This shift away from fossil fuels is not merely for environmental reasons; it's good business sense. A UK CEO put it in a nutshell: "Shifting to renewables is a good business decision, lowering dependence on unstable fossil fuel prices, reducing climate-related risks, and realizing cost savings."

Moreover, the private sector is not waiting for governments to take the lead. More than 70% of businesses intend to phase out fossil fuels from their power mix in a decade, and 93% are considering investments in on-site renewable energy systems. Half of them plan to make these changes within as little as five years. "By being able to produce clean energy ourselves, we can greatly depend less on conventional grid electricity," said a German executive, pointing to independence and strength companies want in an unstable energy environment.

But there are prices for the governments that fall behind. If renewables are not being made widely enough available, 52% of business are willing to move their operations, and 49% will re locate their supply chain within five years. This is a massive economic shift already underway, driven by access to clean energy. Executives cite exposure to volatile electricity prices and loss of competitiveness as major dangers of holding on to fossil-intensive systems.

The need is highlighted by a wider geopolitical backdrop, such as the EU's 300-billion-euro proposal to reduce dependence on Russian fossil fuels. Corporate leaders acknowledge that clean energy also lessens imported fuel dependence, lessening exposure to international political turmoil. One senior Australian executive had this to say, "Renewable energies such as solar and wind are now more cost-effective than fossil fuels in most areas. They decrease dependence on imported fossil fuels, reducing geopolitical risks."

Nevertheless, the route to a complete transition is not without challenges. Firms point to high initial investment (46%), lack of available renewable infrastructure (38%), and uncertain policy timetables (35%) as major hurdles to overcome. Although willing, most firms perceive that effective policy support is necessary to overcome these challenges.

Executives are specific about what they require from policymakers. Financial incentives for clean projects (41%), fossil fuel workers reskilling programs (43%), and reallocating fossil fuel subsidies to clean energy (38%) are at the top of their list of demands. These actions, they contend, would speed up the transition and ensure that workers and industries aren't left behind in the energy transition.

As governments finalize their next batch of Nationally Determined Contributions (NDCs) in advance of COP30, the private sector is delivering a clear message: bold climate policy is no longer merely an environmental issue—it's a top investment factor. Indeed, 90% of business leaders now consider access to renewable energy as one of the leading drivers of business investment decisions.

Maria Mendiluce says it in no uncertain terms: "This is not a matter of ideology; it is a question of financial and operating strategy." As the transition gathers pace, firms are gearing up to take the lead—with or without government initiative. But there are risks if governments fail to act. Unless governments take strong and swift action, they could miss out on investment, expertise, and popular confidence.

The private sector has made its move. The future is undeniably renewable. It is now up to policymakers to catch up—or risk being left behind.