Businesses urged to speak up on energy transition

Businesses need make clear to governments that they stand ready to invest and innovate for the energy transition when the right policies are in place, according to a report.

The study by the University of Cambridge Institute for Sustainability Leadership (CISL) marks 20 years since the Corporate Leaders Groups were established and looks how to enable businesses to shape the markets needed in the future.

The report said Governments need “clear private sector backing” for strategies to create the incentives, skills and infrastructure for transition and that “silence leaves the floor to those who will undermine progress”.

Lindsay Hooper CEO of CISL, said the imperative for business action is to avoid systemic instability if the transition stalls and avoid competitive displacement if it accelerates faster than businesses can adapt.

“Staying out of the fray and quietly managing their own emissions and impacts will not future-proof businesses against systemic risks nor create the conditions to invest in the transition,” she said.