100+ companies call for electrification to become an economic priority

Over 100 companies, representing more than $1.5 trillion USD in annual revenue, call for governments to accelerate the transition to clean electrification. They argue that reliance on volatile fuel markets undermines competitiveness and that electrifying transport, buildings, and industry is a cost-effective way to strengthen energy security. The statement urges international cooperation through bodies like the G7 and G20, and national policies focused on affordability, electricity market design, grid modernization, and clear electrification timelines.

• Reliance on volatile fuel markets creates economic instability by driving price spikes, destabilizing supply chains, and delaying investment, which increases operating costs and reduces business competitiveness.
• Electrifying industry, buildings, and transport using clean, locally-generated energy is identified as one of the fastest and most cost-effective methods to lower energy prices over time and reduce fossil fuel exposure.
• According to scenarios from the IEA and IRENA, it is possible for electrification in final energy use to reach approximately 35% by 2035, provided the necessary government policies are implemented.
• The signatory companies recommend that national governments implement a coherent policy framework including the realignment of fiscal incentives for affordability, the redesign of electricity markets to reward clean flexibility, the upgrading of grids and permitting processes, and the creation of electrification plans with clear targets.
• International cooperation through the G7, G20, BRICS, IEA, and UN climate COPs is viewed as essential for aligning direction and strengthening investment confidence across borders.

APA

Ng, L. (2026). 100+ companies call for electrification to become an economic priority. Alliance for Renewable Electrification. https://renewelec.org/100-companies-call-for-electrification-to-become-an-economic-priority/

Chicago

Ng, Ling. 100+ companies call for electrification to become an economic priority. Alliance for Renewable Electrification, 2026. https://renewelec.org/100-companies-call-for-electrification-to-become-an-economic-priority/.

Wikipedia

{{cite press release |last1=Ng |first1=Ling |title=100+ companies call for electrification to become an economic priority |publisher=Alliance for Renewable Electrification |date=23 June 2026 |url=https://renewelec.org/100-companies-call-for-electrification-to-become-an-economic-priority/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{ng2026100, author = {Ng, Ling}, title = {{100+ companies call for electrification to become an economic priority}}, publisher = {Alliance for Renewable Electrification}, year = {2026}, month = jun, url = {https://renewelec.org/100-companies-call-for-electrification-to-become-an-economic-priority/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }