Business Leaders Urge COP31 to Accelerate Clean Electrification and Decarbonize Heavy Industry

On November 6, 2026, more than 30 members of the Energy Transitions Commission (ETC) urged COP31 leadership to make clean electrification and decarbonization of hard-to-electrify industries central priorities at the upcoming climate summit in Türkiye. New ETC analysis warns that existing policies leave the world on track for approximately 2.6°C of global warming by 2100.

The business leaders called on COP31 President Murat Kurum and President of Negotiations Chris Bowen to strengthen international commitments to clean electricity, industrial decarbonization, and emissions reductions. Signatories include representatives from Arup, Envision, the Grantham Research Institute at the London School of Economics, Octopus Energy, Rothschild, Schneider Electric, Tata Steel, and Vattenfall.

The ETC argues that limiting global warming to well below 2°C remains achievable, but requires stronger government policies and private-sector investment.

Clean Electrification Could Reduce Global Warming

According to the ETC analysis, accelerating clean electrification could lower projected warming from 2.6°C to approximately 2.3°C. Achieving this requires increasing electricity’s share of final energy demand from approximately 20% today to more than 50% by 2050, while reducing coal’s share of electricity generation to below 5%.

Falling costs for solar, wind, batteries, and electric vehicles make this transition increasingly economical. However, accelerating grid construction, permitting, and coal plant retirements will be essential.

The commission also called for faster decarbonization of steel, cement, aluminum, chemicals, aviation, and shipping. These industries present greater challenges because some applications cannot easily transition to direct electrification.

The analysis estimates that decarbonizing heavy industry, aviation, and shipping could reduce projected warming by another 0.2°C. Carbon pricing could help accelerate investment, with estimated prices of approximately $100 per metric ton of CO2 for steel and cement and $200 to $300 for aviation and shipping.

Methane Reduction and Ending Deforestation Are Essential

Reducing annual methane emissions from fossil fuel production, agriculture, and waste by approximately 45% by 2050 could cut projected warming by another 0.2°C. Ending deforestation by 2035 could deliver an additional 0.07°C reduction.

Together, the five priority areas of clean electrification, industrial decarbonization, methane reductions, ending deforestation, and other hard-to-abate sector improvements could bring projected warming to approximately 1.8°C.

Returning global warming to 1.5°C by 2100 would require substantially greater investment in carbon removal. The ETC estimates that more than 500 billion metric tons of CO2 would need to be removed this century, potentially costing more than $500 billion annually.

Business Leaders Warn Against Abandoning Climate Goals

Adair Turner, Co-Chair of the Energy Transitions Commission, emphasized that falling technology costs have improved the outlook for climate action, but current policies remain insufficient.

Jules Kortenhorst, the commission’s other Co-Chair, described clean electrification as a technology transition gaining momentum, while heavy industry, methane emissions, deforestation, and carbon removal require stronger financial and policy incentives.

The commission argues that coordinated government policies and private investment can reinforce one another, accelerating technology adoption and reducing costs.

EVinfo.net’s Take: Electrification and Renewable Energy Are Critical to Climate Progress

Clean electrification is among the most important tools for reducing greenhouse gas emissions. Expanding solar and wind power, battery storage, electric vehicles, and charging infrastructure can reduce dependence on fossil fuels while improving energy security and creating economic opportunities.

The ETC’s analysis reinforces the importance of supporting EV adoption and renewable energy rather than weakening policies that encourage investment. Transportation electrification alone cannot solve climate change, but it must be part of a broader transition that includes electricity generation, heavy industry, shipping, aviation, and methane reduction.

The United States and other major economies need consistent policies that encourage clean technology investment, strengthen domestic manufacturing, and accelerate infrastructure development. Delaying these investments gives competing economies opportunities to capture leadership in batteries, EVs, renewable energy, and other emerging technologies.

Keeping global warming well below 2°C remains possible, but achieving that goal requires action now.

Source: Energy Transitions Commission, Still Vital, Still Possible: How Governments and Businesses Can Work Together to Limit Global Warming.

Website: https://www.energy-transitions.org/