Business coalition calls for urgent policy intervention on clean electrification
A group of global business leaders has issued a formal call for the COP31 Presidency to prioritize clean electrification and heavy industry decarbonization to meet climate targets.
A collective of international business leaders has urged the incoming COP31 Presidency to implement stronger policy support for clean energy transitions. The group warns that without intervention, current market trends suggest global warming could reach 2.6°C by 2100, far exceeding the threshold required to stabilize the climate.
The letter emphasizes that relying solely on technologies to become cost-competitive is insufficient to meet the target of keeping global warming well below 2°C. Signatories propose that electricity must account for over 50% of final energy demand by mid-century to achieve meaningful emissions reductions in heavy industry and commercial operations.
The proposed policy shift aims to accelerate the deployment of low-carbon infrastructure, which businesses argue remains hindered by existing regulatory bottlenecks. While previous climate summits have focused on long-term pledges, this initiative specifically calls for actionable regulatory frameworks that prioritize grid expansion and industrial efficiency.