As clean technologies go mainstream, these steps help companies harness the benefits
Santeri Palomäki, Manager, Industry & Built Environment, We Mean Business Coalition
Clean technologies are fast displacing fossil fuels — and businesses that embrace these technologies can secure resilience, attract investment and unlock long-term growth. To accelerate this shift, businesses can follow the practical, near-term actions laid out in the Fossil to Clean Business Action Checklists.
The global energy system is changing fast. Our recent analysis Power Up: How Clean Energy Is Putting Fossil Fuel Demand in Doubt shows that clean technologies are no longer niche alternatives — they are increasingly the default choice for businesses, investors and governments.
Created by We Mean Business Coalition, Ember, Energy Transitions Commission and E3G, the analysis details how demand for fossil fuels is set to slow or peak in the next few years. Already, the world now invests nearly twice as much in clean energy as in fossil fuels. And existing clean technologies can displace up to 75% of today’s fossil fuel demand.
For companies, embracing this shift makes economic sense. Businesses that remain tied to fossil fuel–based processes and equipment risk rising costs, volatility and stranded assets. Those that transition to clean solutions soonest can secure resilience, attract investment and unlock long-term growth.
How can companies translate these system-level shifts into daily operations and short- and long-term investments? Enter the Fossil to Clean Business Action Checklists.
Created by the Coalition with leading companies that are already taking action, the checklists outline the practical, near-term steps that companies can take to future-proof their operations across four major sectors: transport, energy, buildings and industry.
Transport: EVs are the competitive choice
Electric vehicles are no longer a distant prospect. In many regions, they are already commercially competitive on cost and performance with internal combustion engines. This momentum is already denting oil demand, which peaked in advanced economies several years ago. By 2030, EVs are expected to displace five million barrels of oil per day.
Our Business Action Checklists section on transport introduces ways for businesses to transition fleets to EVs (plus steps to take on logistics and business travel). Companies that move early hedge against future oil market disruption.
Energy procurement: Renewables and storage are outcompeting gas
Renewables plus batteries are already cheaper and faster to deploy than gas for power generation in most regions. NextEra Energy reported that four-hour batteries can already cover >70% of generation provided by a typical gas peaker plant, which is typically used to provide back-up power (and at lower levelized cost of generation). This reality is undermining gas demand today and will only intensify as these technologies continue to scale.
Our checklist on electricity procurement outlines how companies can develop a clean energy procurement strategy that is fit for purpose (e.g., securing power purchase agreements, exploring on-site generation, etc.). These actions cut costs, reduce exposure to fossil fuel price swings and signal strong leadership in the transition to clean energy.
Buildings: Efficiency and electrification pay off
Clean technologies are not only lower carbon; they’re also more energy efficient than fossil alternatives. From high-performance heat pumps to advanced insulation, these solutions reduce both energy use and emissions — making them a smart business choice.
Our Business Action Checklists section on energy efficiency and buildings provides tangible steps for cutting costs for both building owners and tenants. By doing so, businesses can cut operating expenses, while driving demand for clean building solutions and away from fossil fuels.
Process heat: Heat electrification is becoming increasingly feasible
Industrial processes have traditionally been hard to decarbonize. But the landscape is shifting: Industrial heat pumps are becoming available for low-to-mid temperature process heat and increasingly cost-competitive thanks to their high energy efficiency. As these technologies scale, they will further undermine future gas demand.
The process heat checklists help companies identify how they can electrify industrial heat and how thermal energy storage and waste heat can help save costs and energy. This also means hedging against risks caused by cost fluctuation of fossil fuels.
A decisive moment for business leadership
Fossil fuel demand is not just uncertain; it is in doubt. Clean technologies are winning on speed, scalability and efficiency. Supportive policy is now needed give businesses the confidence to invest. But across sectors, companies are already showing that reducing reliance on fossil fuels makes economic sense.
With the Fossil to Clean Business Action Checklists, companies have a set of ready-made, practical tools to guide this transition to clean, competitive technologies. And business leaders are ready to capitalize on this opportunity.