Business coalition urges COP31 to close electrification gap
We Mean Business Coalition wants the climate summit to focus on turning electrification ambition into actual deployment.
The We Mean Business Coalition has urged the COP31 Presidency to prioritize closing the electrification implementation gap at the upcoming climate summit in Antalya. The coalition, a non-profit focused on business action for climate, wants to translate the ambition of raising electricity's share of global energy demand to 35% by 2035 into concrete deployment. This call comes one week before governments convene for the summit.
Recent research by WMBC has repeatedly identified an implementation gap, where policy frameworks are not translating into on-the-ground progress. This gap leaves countries vulnerable to energy insecurity and price volatility, while also hindering industrial competitiveness and investment. Businesses are experiencing increased costs and delayed projects as a result.
The Electrification Competitiveness Index shows that while China leads in actual electrification, nations like the US are at risk of losing momentum. Major European economies, including Germany, the UK, Italy, and Poland, are also struggling to match their strong policy frameworks with comparable progress. Without faster deployment, businesses face tougher decisions about capital investment.
Why it mattersBusinesses face higher costs, delayed projects, and tougher decisions about where to put capital due to the electrification implementation gap.