A global business executive poll commissioned by international renewable advocacy organisations E3G, Beyond Fossil Fuels, and We Mean Business Coalition, has found 77% of Australians surveyed want to see a renewables-based electricity system within the decade.
The Powering Up: Business Perspectives on Shifting to Renewable Electricity survey found 57% of Australian industry leaders also said they want to see a direct transition from coal to renewables-based electricity, grids and storage, but need greater assurances from the federal government’s roadmap to transition, that renewable deployment is being accelerated.
“Among business leaders who want their government to prioritise new investment in renewables, 84% support phasing out coal from electricity generation in Australia in the next ten years,” the survey found.
Half (50%) of respondents also said they want the government’s accelerated transition to prioritise the training of workers in high-carbon sectors for renewable energy jobs.
They want incentives, education and training programs for these workers to guarantee their employment in future energy industries.
Image: We Mean Business Coalition
Respondents also want the government to provide financial incentives for renewable energy projects (45%) and provide subsidies to support business demand for on-site renewable energy (42%).
Other findings include:
- 60% identified creation of new jobs as a primary benefit of the transition to a renewables-based power system
- 52% see mitigating the risks of climate change as a key benefit of the energy transition
- 55% believe the biggest challenge organisations will face if Australia does not transition, is poor economic growth and an unfavourable investment environment
- 41% said the lack of clarity on timelines and targets on building a renewable-based electricity system is a barrier to the transition
Globally, across the 15 countries surveyed, 97% of respondents say they back a move away from coal and other fossil fuels, with nearly 78% supporting the shift to a renewables-based electricity system by 2035, or sooner.
Image: We Mean Business Coalition
In response to the findings, Iberdrola Director of Climate Change and Alliances Gonzalo Sáenz de Miera 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,” de Miera said.
Schneider Electric Sustainability Business Global Head Stuart Lemmon said the company is dedicated to empowering clients to invest in renewable energy, energy efficiency, electrification and digitalisation.
“Companies embracing renewable energy today are positioning themselves to succeed tomorrow – driving greater competitiveness, accelerating innovation and unlocking long-term cost savings,” Lemmon said.
“Renewable energy isn’t merely good sustainability practice; it’s an essential strategy for businesses committed to growth, resilience and long-term success.”
In neighbouring Indonesia, where hydropower, geothermal and biofuels are favoured, a majority of executives surveyed (88%) say they welcome the prospect of removing coal and other fossil fuels from the national grid, with 72% favouring a direct jump straight from coal-fired electricity to exclusively new renewables, grids and storage, avoiding the need to use fossil gas as an interim fuel.
Business leaders were surveyed in Australia, Brazil, Canada, Germany, India, Indonesia, Italy, Japan, Mexico, Poland, South Africa, South Korea, Türkiye, United Kingdom and United States.
Image: We Mean Business Coalition
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