A groundbreaking global survey of business leaders from 18 countries reveals strong support for rapid progress toward electrified economies powered primarily by renewable electricity sources.

The results suggest geopolitical instability is accelerating an existing economic shift to clean electrification, though energy systems, grids and policy settings are failing to match the pace.

As tensions persist in the Middle East and G7 leaders gather in Evian amid rising worries over economic resilience and global weak points, 91 percent of business executives say electrification would boost energy security while 79 percent report that instability has made their own company transition more urgent.

Data gathered in late April, when the Strait of Hormuz remained closed, show executives in every surveyed nation back a swift move away from fossil fuels, with 90 percent expecting their operations to be fully electrified by 2035.

The poll follows an International Energy Agency report noting that repeated energy crises are reshaping investment priorities for governments and firms, while COP31 hosts Turkey and Australia plus the International Renewable Energy Agency have urged stronger global action to power vehicles, industry and buildings with electricity rather than fossil fuels.

Findings indicate 90 percent of executives believe a renewable-based power system in their country would drive economic growth, and 88 percent say electrifying operations would improve their firm's competitiveness.

Yet 72 percent state that policy is lagging behind.

Powering Up: Business Perspectives on Electrification cautions that nations failing to advance electrification risk falling behind more electrified economies, with 62 percent of respondents saying they would consider relocating operations if their government fails to provide adequate support.

The survey, conducted in major developed and emerging markets by E3G, the We Mean Business coalition and the Global Renewables Alliance, underscores rising business demand for clean electrification to deliver energy security, competitiveness, growth and climate action.

Executives from mid-sized and large firms were polled in Australia, Brazil, China, Colombia, France, Germany, India, Indonesia, Japan, Kenya, Nigeria, the Philippines, Poland, South Africa, South Korea, Turkey, the United Kingdom and the United States.

The complete release and report are available online.