Overview
- A poll published Monday shows roughly 90% of nearly 2,000 CEOs across 18 countries expect their companies to be electrified by 2035 and see the move as urgent after recent energy disruptions.
- Nine in ten respondents said a renewables-based power system would boost national growth, and about 88% said electrifying operations would improve their firms’ competitiveness.
- Survey respondents tied urgency to geopolitical shocks such as the Strait of Hormuz closure, with 91% saying electrification would strengthen energy security and 79% saying instability made the shift more urgent.
- Many companies warned policy and infrastructure lag behind plans: 72% said government policy is falling behind and 62% said they would consider relocating operations if governments do not support electrification.
- German executives singled out high electricity prices as a key barrier and asked for lower system costs, tax changes, faster permitting and quicker grid connections, a demand that could drive new political and investment pressure ahead of COP31.