COP31 | Companies invited to seize the electric advantage
Australian businesses are being invited to add their support to a global business statement calling for faster clean electrification ahead of COP31.
The We Mean Business Coalition is seeking additional company signatories to Seizing the Electric Advantage, a global business statement making the economic case for accelerating electrification powered by clean energy.
More than 110 companies, representing more than US$1.5 trillion in combined annual revenue, have already signed.
BCSD Australia is an Australian network partner of the We Mean Business Coalition and is sharing this opportunity with Australian businesses ahead of COP31.
Why electrification matters at COP31
Electrification has emerged as a major part of the COP31 implementation agenda.
The COP31 Presidency has put forward the 35-by-35 Global Electrification Pledge, which seeks to increase electricity’s share of global final energy consumption to around 35% by 2035.
For business, the opportunity extends well beyond increasing renewable electricity generation.
Delivering greater electrification across transport, buildings and industry will require investment in:
modern and resilient electricity grids;
storage and flexibility;
faster connections and permitting;
well-designed electricity markets;
clean generation;
end-use technologies and infrastructure; and
finance that enables businesses and households to make the transition.
These are also issues BCSD Australia has been examining through its COP31 engagement and participation in the COP31 Business Forum.
What is Seizing the Electric Advantage?
The statement calls on governments to make electrification a central pillar of economic and industrial strategy and to provide businesses with the long-term policy certainty needed to invest.
It highlights the potential for clean electrification to support:
Competitiveness — helping businesses access efficient, increasingly clean energy and new technologies.
Energy security — reducing exposure to imported fossil fuels and volatile global energy markets.
Investment — creating clearer signals for investment in generation, networks, storage and electrified technologies.
Implementation — addressing practical barriers including grid capacity, market design, permitting and infrastructure planning.
The statement was first published in June 2026 alongside the Global Energy Transition and Electrification Summit and the launch of the Electrify Now campaign.
Australian companies can add their support
We Mean Business Coalition is inviting additional companies to sign the statement before COP31.
Companies wishing to be included when the statement is relaunched at the opening of COP31 should sign by:
Monday 2 November 2026, 5:00 pm ET
Tuesday 3 November 2026, 9:00 am AEDT
BCSD Australia encourages interested Australian companies to review the statement and determine whether it aligns with their organisation’s position and ambitions.
Image: We Mean Business Coalition | Electric Advantage
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