A recent survey conducted by consultancy Public First, commissioned by E3G, We Mean Business Coalition, and the Global Renewables Alliance, highlights a significant shift in corporate energy strategy. Amidst ongoing geopolitical instability and volatility in fossil fuel markets, 90% of global business leaders now expect to electrify their operations by 2035.
Key Findings:
Energy Security as a Priority: 91% of surveyed business leaders state that electrification would significantly improve their energy security.
Urgency of Transition: 79% of respondents believe that recent oil and gas supply disruptions—exacerbated by instability in critical transit zones like the Strait of Hormuz—have made the shift to electrification more urgent.
Economic Competitiveness: The majority of leaders view a renewables-based electricity system as a boost to both economic growth and corporate competitiveness.
The Policy Gap: Despite the corporate appetite for electrification, there is significant frustration regarding government support:
72% of survey participants noted that current government policies are moving too slowly to support the pace of change required by businesses.
62% of business leaders explicitly indicated they would consider relocating operations if their respective governments failed to provide sufficient support for electrification.
Strategic Vulnerability: "The lesson is becoming increasingly clear: dependence on imported fuels is a strategic vulnerability and an unnecessary burden on the balance of payments of countries that do not produce fossil fuels," said José Manuel Entrecanales, Chairman and CEO of ACCIONA. The survey, which polled nearly 2,000 senior management members across 18 major markets, confirms that electrification is no longer just a climate goal—it is a core strategic hedge against the geopolitical fragility of global fossil fuel supply chains.
Source Reference: Oilprice.com - 90% of Global Businesses Expect to Electrify Operations by 2035 by Tsvetana Paraskova (https://oilprice.com/Latest-Energy-News/World-News/90-of-Global-Businesses-Expect-to-Electrify-Operations-by-2035.html)
