{"id":89506,"date":"2026-06-22T07:13:09","date_gmt":"2026-06-22T07:13:09","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/89506\/"},"modified":"2026-06-22T07:13:09","modified_gmt":"2026-06-22T07:13:09","slug":"nestle-uber-among-global-business-leaders-to-back-faster-electrification-shift","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/89506\/","title":{"rendered":"Nestle, Uber among global business leaders to back faster electrification shift"},"content":{"rendered":"

LONDON: Companies including Nestle<\/a> and Ikea<\/a> on Monday urged governments to make electrification central to their economic strategies, to help reduce \u200cexposure to \u2060volatile fossil fuel \u2060costs and bolster energy security.<\/p>\n

In an open statement seen by Reuters and backed by 112 businesses \u200bfrom sectors including industrials, consumer goods and healthcare, they said exposure to fossil fuel-driven price shocks undermined \u200bcompetitiveness.
The group, with combined annual revenues of about $1.5 trillion, also included Iberdrola, Volvo Cars<\/a> and Uber<\/a>, Mahindra Group<\/a>, Nikon Corporation<\/a>, and Levi Strauss.<\/p>\n

Also read: China hits back at US sanctions on tech giants, restricts exports to 10 American defense firms<\/a><\/p>\n

“Continued reliance on volatile fuel markets \u200bexposes economies to disruptions that drive price spikes, destabilise supply chains \u2060and delay \u200cinvestment,” said the statement, coordinated by the We Mean Business \u200bCoalition and \u200bthe Global Renewables Alliance.<\/p>\n

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However, making the shift would depend heavily on \u2060clear and predictable government policy and reforms, including improving electricity market \u200bdesign, investing in grids and speeding up permitting, it added. As many \u200bgovernments and companies reassess their energy strategies in response to price spikes, most recently those linked to the Iran conflict, the statement said volatility can translate into “persistent uncertainty”, higher operating costs and weaker competitiveness.
The intervention comes at the start of London Climate Action Week<\/a>, with more than 75,000 people expected to attend 1,000-plus events, including leading \u200cpolicymakers, investors and company executives.It also aligns with a push by Turkey, the hosts of the COP31 climate talks<\/a> in November, for countries to agree a global target for electricity \u2060to supply 35% of the world’s energy demand by 2035.<\/p>\n

Many of the technologies required to electrify key sectors such as transport, buildings and industry are already commercially available, and \u200bwould help to lower overall energy demand, the statement said.<\/p>\n

“To reach the required scale, the transition to electrification notably needs to be accelerated through predictable and enabling policy frameworks,” said Kim Hellstrom, Senior Sustainability Climate Manager at retailer H&M. A poll released last week said 90% of business leaders expected their operations to be electrified within a decade.<\/p>\n","protected":false},"excerpt":{"rendered":"LONDON: Companies including Nestle and Ikea on Monday urged governments to make electrification central to their economic strategies,…\n","protected":false},"author":2,"featured_media":89507,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[126],"tags":[45290,45288,45292,45289,45293,199,45294,459,11691,45291],"class_list":["post-89506","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nestle","tag-cop31-climate-talks","tag-fossil-fuel-costs","tag-ikea","tag-london-climate-action-week","tag-mahindra-group","tag-nestle","tag-nikon-corporation","tag-renewable-energy","tag-uber","tag-volvo-cars"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116792525316465103","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/89506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=89506"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/89506\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/89507"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=89506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=89506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=89506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}