Key facts
- 90% of global businesses surveyed expect to electrify operations by 2035.
- The survey involved 1,994 business leaders across 18 key economies and emerging markets.
- 91% of respondents believe electrification will enhance energy security.
- 79% of leaders feel that recent instability has increased the urgency of their electrification shift.
- 72% of participants believe government policies are not progressing fast enough to support business electrification needs.
- 62% of business leaders stated they would relocate operations if government support for electrification is insufficient.
A survey indicates that 90% of global businesses anticipate electrifying their operations by 2035, driven by concerns over geopolitical instability and volatile fossil fuel prices. The poll, conducted by Public First and commissioned by E3G, We Mean Business Coalition, and the Global Renewables Alliance, surveyed 1,994 senior business leaders across 18 markets.
Most respondents believe that transitioning to a renewables-based electricity system will boost economic growth and enhance their business competitiveness. Additionally, 91% of leaders stated that electrification would improve their energy security, with 79% indicating that recent instability has made their shift to electrification more urgent.
However, a significant portion of the surveyed businesses expressed dissatisfaction with the pace of government action. A total of 72% of participants noted that government policies are moving too slowly to support the necessary speed of electrification. Furthermore, 62% of business leaders indicated they would consider relocating their operations if their government did not provide adequate support for electrification.
José Manuel Entrecanales, Chairman and CEO at Spain’s ACCIONA, commented on the survey's findings, stating that dependence on imported fuels represents a strategic vulnerability and an unnecessary burden for countries not producing fossil fuels. He emphasized that this is not the first fossil fuel crisis and likely will not be the last.