23 April 2025, London – Ahead of the UK/IEA Energy Security Summit, over 130 companies, industry associations and investors have come together to urge governments to redefine energy security for the 21st century – anchoring renewables, energy efficiency, and system flexibility at the heart of national energy plans and policies. 

In a joint business statement, signatories from across the global economy – including Ingka Group, Unilever, Arup, CIP, Danfoss, E.ON, EDP, Fortescue, Iberdrola, Octopus, Orsted, SSE, Statkraft, Vestas and others – call for an upgrade to a smarter, electrified and decentralised energy system. One that can withstand shocks, increase competitiveness and meet rising global demand. 

“Governments and businesses can now exploit the huge security benefits of a modern, electrified, competitive and flexible system powered by renewable energy,” said Bruce Douglas, CEO of the Global Renewables Alliance, one of the initiators of the statement.

The business case is clear. In 2022 alone, fossil fuel price volatility resulted in over USD 1 trillion in unplanned costs to businesses and governments. Clean energy solutions – by contrast – cut costs, protect businesses from price shocks, and build competitive economies. Since 2000, renewables have saved USD 409 billion in fuel costs and generated up to three times more jobs per dollar than fossil fuels. 

“The clean energy transition is creating opportunities for growth and job creation,” said Andrew Prag, Managing Director, Policy at We Mean Business Coalition. “Governments have a chance to harness business momentum and accelerate the shift to a future-proof and ultimately more secure energy system.” 

Signatories stress that anchoring renewable energy at the centre of energy policy is “one of the most strategic actions governments can take to ensure long-term security, competitiveness, resilience and prosperity in a rapidly changing world.” 

Sam Kimmins, Director of Energy at Climate Group emphasised that: “Renewables must be at the core of the energy security discussion. Governments and businesses have a window of opportunity to embrace shock-proof and competitive, clean energy. It’s why the majority of businesses in our RE100 programme want the transition to happen within a decade.”

Companies on the frontlines of industrial decarbonisation are also stepping up. “Decarbonising mining isn’t a far-off vision. It’s both possible and profitable,” said Dino Otranto, CEO of Fortescue Metals. “By switching to renewables, we can significantly reduce operational costs – a clear example of decarbonisation driving profitability and reducing volatility.” 

“A secure energy future depends on accelerating renewables and building the infrastructure to match,” added Michael Hannibal, Partner, Copenhagen Infrastructure Partners. “We support this statement because it’s time to align policy, investment, and delivery to scale clean energy — fast.”

Gonzalo Saenz de Miera, Director of Climate Change and Alliances at Iberdrola, echoed the message: “Renewables contribute to energy security and enhance economic competitiveness. At Iberdrola, we’ve long understood this, having invested in clean energy for over 20 years, we now operate more than 44,000 MW of renewable energy capacity worldwide.” 

The statement outlines key priorities for governments to integrate into their national climate plans (NDCs) and energy policies, emphasising the need to scale renewables and remove barriers to corporate procurement. It calls for advancing energy efficiency, storage, demand response, and strategic grid upgrades, along with building resilient clean energy supply chains. Investing in a future-ready workforce and infrastructure to withstand cyber and climate risks is crucial. Realigning incentives, such as repurposing fossil fuel subsidies, and expanding clean energy access to underserved regions will drive economic growth and resilience. 

Jointly initiated by the Global Renewables Alliance, Climate Group/RE100, and the We Mean Business Coalition – three coalitions representing thousands of companies committed to an accelerated energy transition – the statement sends a clear message to ministers and delegates at the Energy Security Summit: Energy security depends on renewables and energy efficiency. 

Read the full Business Statement and see the list of supporters: 
https://globalrenewablesalliance.org/security