LONDON — Most businesses expect their operations to be largely electrified by 2035 as they shift from fossil fuels, a survey of corporate leaders from 18 countries released on Monday showed.
- Consultancy Public First surveyed 1,994 executives and senior managers of organizations with revenues of $1 million-plus between April 20-26.
- Commissioned by E3G, We Mean Business Coalition and the Global Renewables Alliance.
- Companies based in Australia, Brazil, China, Colombia, France, Germany, India, Indonesia, Japan, Kenya, Nigeria, Philippines, Poland, South Africa, South Korea, Turkey, United Kingdom and United States.
- 90% of respondents say they expect their operations to be largely electrified by 2035.
- 90% say moving to a renewables-based electricity system is likely to boost economic growth.
- 88% say electrifying their operations will make their business more competitive.
- 91% say electrification would improve energy security.
- 79% say instability has made their own business shift to electrification more urgent.
- 72% say government policies are lagging behind.
- Maria Mendiluce, CEO, We Mean Business Coalition said: “This polling points to a profound shift in the global economic landscape. Businesses are increasingly seeing electrification as the foundation of future competitiveness, energy security and economic resilience.”
—Reporting by Simon Jessop; Editing by Cynthia Osterman