International Business Community Calls on Governments at COP30: We Mean Business Coalition

35+ organizations representing over 135,000 companies have signed We Mean Business Coalition’s COP30 Business Group Statement, calling on governments to realign public finance and policy support toward an affordable, reliable clean energy system.

• Businesses overwhelmingly want renewables-based electricity systems — but governments must set the course by realigning public finance and policy support away from fossil fuels and toward clean solutions. 
• Public incentives, including subsidies, remain one of the most powerful tools to accelerate the transition to clean energy, while delivering energy security, job growth, improved livelihoods and greater global competitiveness. 
• Renewable energy is the cheapest power source in most of the world, driving growth, jobs and innovation. Combined with electrification, it has the potential to displace 75% of today’s fossil fuel demand. Despite this, global incentives remain misaligned: Fossil fuels received over $1.1 trillion in subsidies in 2023. 
• Outdated incentives hold back prosperity. With realigned incentives, governments not only bring the benefits of the clean energy economy to their countries but also address market distortions, provide predictable and aligned global policy and give businesses clarity and confidence to invest in clean technologies. 
• Given the sheer scale of these subsidies, even modest reforms could create considerable new space in constrained public budgets.