COP30: We Mean Business Coalition statement on a fossil fuel roadmap
We Mean Business Coalition
The rallying of country support for President Lula’s call for a fossil-fuel roadmap at COP30 is welcome. Business has been calling for a well-managed shift to clean energy and welcomes the signal that governments are exploring a clearer pathway to build on the progress made at COP28 to transition away from fossil fuels.
A roadmap has potential to support planning and investment and can build on the momentum we see in the real economy – towards renewable energy, clean electrification and greater energy resilience. For companies, a good roadmap can provide clarity on targets and timelines that can guide long-term decisions.
A letter from business groups released ahead of COP30, highlighted key measures that can unlock progress on private sector momentum and accelerate implementation: realigning incentives, ending inefficient fossil fuel subsidies and backing electrification, grids and storage at scale. These are the fundamentals that shift capital and make clean energy cheaper, more reliable and more competitive. A roadmap anchored in these elements can move from a political concept to a genuinely meaningful, real-economy tool.
Clean electrification is the most effective way to deliver an energy transition that benefits people – it is the fastest route to lower costs, cleaner air and a more secure energy system. It is also where impetus is strongest and policy certainty has the biggest payoff. Companies are already making decisions based on their ability to secure clean power, modernise operations and protect themselves from fossil fuel volatility. A roadmap that can embed clean electrification and grid modernisation will help meet business needs.
Any route for the phase out of fossil fuels needs to reflect the different starting points of the Global North and South. A roadmap that can deliver a globally just transition will need finance, technology and market reforms, and a process that is co-developed.
The emerging proposal and the signal it affirms – that we are witnessing a structural shift towards clean energy – are encouraging. If governments use this moment to set out a coherent long-term direction, a roadmap can help define and accelerate action well beyond COP30.