A global poll of business executives across 15 countries shows overwhelming support for a rapid transition away from fossil fuels to renewable electricity and will move to locations with clean power if not provided to them where they are.

A vast majority, 97 per cent of mid-market and large company leaders, are backing a move away from coal and other fossil fuels, with nearly 78 per cent supporting the shift to a renewables-based electricity system by 2035 or sooner.

The polling, conducted across key economies and emerging markets, by Savanta and commissioned by E3G, Beyond Fossil Fuels and We Mean Business Coalition, underscores an accelerating corporate shift away from fossil fuels towards renewables. Powering up: Business perspectives on shifting to renewable electricity also serves as a warning - the majority of businesses suggest they will relocate to clean energy sources unless they are available to them, with half of business leaders saying they will relocate their operations (52 per cent) and supply chains (49 per cent) to markets with better access to renewables-based power systems within five years.

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

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.”

Three-quarters (75 per cent) of executives associate renewables with stronger energy security and 77 per cent link renewables to economic growth, while 75 per cent see them as key to job creation.

But the leaders feel that government policy is lagging. Nick Mabey, CEO, E3G said: "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, 1.5C aligned NDCs ahead of COP30."

In the UK, where business and government have a strong track record in advancing the transition, more than three-fifths of business executives (62 per cent) see energy security as a benefit from transitioning away from fossil fuels to renewables. Almost one third (32 per cent) of UK business leaders also feel the delays in obtaining permits for renewable energy, storage or grid infrastructure projects is a barrier.

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