Global Business Leaders Back Faster Electrification Shift
The coalition said 112 businesses with about $1.5 trillion in annual revenue want predictable policies and faster grid investment.
- On Monday, 112 companies including Nestle, Uber, and Ikea urged governments to prioritize electrification in economic strategies, representing $1.5 trillion in combined annual revenue.
- Persistent reliance on volatile fuel markets exposes economies to price spikes, supply chain disruptions, and investment uncertainty, according to the We Mean Business Coalition and the Global Renewables Alliance, with tensions linked to the Iran conflict intensifying concerns.
- A Public First poll of business leaders in 18 countries found that 90% of respondents believe switching from hydrocarbons to wind and solar would aid economic growth.
- Kim Hellström, Senior Sustainability Climate Manager at H&M, said the transition requires "predictable and enabling policy frameworks," including improved electricity market design and accelerated grid investment.
- The appeal aligns with Turkey's COP31 goal for electricity to supply 35% of global energy demand by 2035, coinciding with London Climate Action Week and leveraging already-available technologies.
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Major Global Companies Call for Faster Electrification to Strengthen Energy Security and Economic Growth
More than 100 major companies, including some of the world's best-known consumer brands and industrial groups, have called on governments to place electrification at the center of their economic and energy strategies, arguing that a faster shift away from fossil fuels would improve energy security, reduce exposure to price shocks, and strengthen long-term economic competitiveness.
Times of India
The Economic TimesNestle, Uber among global business leaders to back faster electrification shift
Over 100 global companies, including Nestle and Uber, are urging governments to prioritize electrification in economic strategies. They argue this shift will reduce reliance on volatile fossil fuel costs, enhance energy security, and boost competitiveness. The businesses, with combined revenues of $1.5 trillion, emphasize that clear government policies and faster permitting are crucial for accelerating this transition and lowering overall energy…
Fed up with fossil fuel shocks, global firms worth $1.5 trillion push for an electrified economy
A coalition of 112 companies with combined annual revenues of $1.5 trillion, including Nestle, Ikea and Uber, has urged governments to accelerate electrification, arguing it is essential for energy security, competitiveness and protection from fossil fuel price shocks
In a public statement, 112 companies in sectors such as food, agriculture, transport, consumer goods, energy, utilities, health, manufacturing and technology claim that electrification, driven by clean and locally generated energy, can offer an efficient and sensible solution to the increase and volatility of energy prices. Companies such as Acciona, Coca-Cola Europacific Partners, Decathlon, dsm-firmenich, EDF, Enel, E.
Corporate giants urge electrification push to shield Europe from fossil fuel shocks « Carbon Pulse
More than 100 companies, including multinationals such as Ikea, Unilever, Siemens, and EDF, issued a statement on Monday urging governments to put electrification at the heart of economic and industrial policy, warning that continued reliance on fossil fuels is driving volatility and higher costs.
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