112 Corporations Urge Governments to Speed Business Electrification

com reported. The letter stated that continued reliance on volatile fuel markets exposes economies to disruptions that drive price spikes, destabilise supply chains and delay investment. Signatories included Ikea, Nestle, Volvo Cars, Nikon, Iberdrola and Uber.

The companies together generate $1.5 trillion in annual revenues. H&M senior sustainability climate manager Kim Hellström said predictable and enabling policy frameworks are needed to reach the required scale for the transition. Last week a Reuters poll found that the majority of global business leaders expect their operations to be largely electrified by 2035.

Public First conducted the survey for three climate change-focused organizations among leaders in 18 countries. Ninety percent of respondents said switching from hydrocarbons to wind and solar would support economic growth.