The latest insights from the We Mean Business coalition

April 16, 2026

Signals of Change – April 2026

We Mean Business Coalition

Beautiful Liberty Bridge at sunrise with cherry blossom in Budapest, Hungary. Spring has arrived to Budapest.

This month’s signals of change towards…

AN ACCELERATED TRANSITION FROM FOSSIL FUELS TO CLEAN, ELECTRIFIED SOLUTIONS

Energy

Starting in the UK, where new research from Ember shows that the expansion of clean power has reduced exposure to gas price shocks triggered by the energy crisis.

Meanwhile, UK households affected by volatility are turning towards solar power and clean solutions in record numbers. While new analysis shows that pairing rooftop solar with batteries could save UK households up to £1,100 a year on energy bills.

Elsewhere in Europe, demand for solar panels and heat pumps is surging in response to energy price spikes triggered by the Iran conflict. And a new Politico poll shows overwhelming support across six European countries for maintaining or accelerating the transition to clean energy.

France has announced plans to boost electrification and reduce reliance on fossil fuel imports – announcing 12GW of wind and solar tenders in its bid to increase energy sovereignty. In line with the country’s electrification goals, public utility EDF is investing €240 million to expand heat pump deployment and electric mobility solutions, accelerating electrification across buildings and transport.

Next to the Philippines, which faces heightened energy security risks with 95% of its crude oil imports coming from the Persian Gulf. A $35m USD microgrid project combining solar and battery storage has been launched to power remote communities, improving energy access for homes, schools, healthcare and small business.

Staying in Asia, Tesla is preparing to enter the Indian energy storage market alongside its electric vehicle business, pointing to growing demand for battery systems as the country scales renewable power.

Lastly in the U.S., the Department of Energy is investing $1.9bn in grid upgrades as utilities deploy grid-enhancing technologies and expand long-duration energy storage to meet surging electricity demand driven in part by AI.

DEEP DIVE: ENERGY SECURITY NEEDS BOTH RENEWABLE ENERGY AND ELECTRIFICATION

The current energy crisis has import-dependent countries around the world looking for ways to reduce long-term exposure to fossil fuel price volatility. While many countries are achieving ever higher percentages of renewables on the grid, much of the energy underpinning our economies is still directly supplied by fossil fuels.

This gap can be closed by electrification, write our Director of Energy Molly Walton and Climate Group Director of Energy Sam Kimmins in our latest deep dive blog. By replacing fossil fuel-powered devices with more reliable and efficient electric technologies, countries and businesses can dramatically expand the reach of renewable electricity, deepening its impact and making it an economy-wide asset.

Read our long-form analysis

Industry

In India, multinational engineering firm ABB is investing $75 million to expand manufacturing and R&D for electrification technologies. The announcement has driven a near 10% rise in its share price, a sign of investor confidence amid growing demand electrification solutions.

Analysis by CREA highlights how decarbonization is increasingly aligned with competitiveness in China’s heavy industry. It finds that Chinese steel mills could boost profits by up to 10% by shifting to greener production methods such as electric arc furnaces.

Staying with green steel, and in Sweden Stegra has installed all 37 electrolysis modules at its Boden plant, delivering on earlier plans to scale green hydrogen for support low-carbon steel production.

In Romania, Heineken has installed heat pumps at its production facilities to reduce emissions and optimize energy use, demonstrating how electrification can improve industrial efficiency.

Transport

Electric vehicles avoided the use of 2.3 million barrels of oil per day globally in 2025, according to research by BloombergNEF. It projects this could rise to 5.25 million barrels by 2030 under an ‘economic’ transition scenario.

In recent weeks, rising fossil fuel prices have been driving a surge in used electric vehicle sales. Across Asia, dealerships are reporting a sharp increase in demand as consumers shift away from petrol and diesel.

Staying in Asia, electric vehicles now account for over 70% of new car sales in Nepal, helping to shield consumers from fuel price spikes.

According to new research from ICCT, seven in ten electric vehicles sold in Europe are now produced domestically, putting the market just three years behind China, where several EV manufacturers have already reached profitability.

Lastly in the U.S., Uber has expanded its $4,000 ‘Go Electric’ grant to drivers nationwide, helping accelerate the shift to electric vehicles across its platform.

POLICY AND INCENTIVES

First to the UK, where new rules will require heat pumps in all new homes from 2027 alongside expanded support for plug-in solar. This comes as the government announces £1 billion in funding for electric trucks and vans to accelerate the decarbonization of road transport.

Meanwhile in the Americas, Chile is advancing industry proposals to accelerate electrification and scale battery storage, with reforms aimed at enabling flexibility and supporting renewable integration.

In Brazil, the Eco Invest mechanism has financed 33 projects totalling R$20.7 billion in its first year, with more than one-third supporting the energy transition.

Lastly in Europe, the EU’s Innovation Fund 2025 auctions have attracted nearly €10 billion in bids from industry for decarbonization support, underscoring strong demand for low-carbon investment.

Regulation and reporting

First to the U.S., where California has set a 2026 deadline for corporate climate disclosure rules, requiring large companies to report emissions and climate risks.

In Europe, early CSRD filings show how mandatory disclosure is reshaping corporate sustainability reporting, with companies providing more detailed, standardized and decision-useful climate and sustainability data.

Despite a reduction in the number of companies required to report under these regulations, surveys show that 90% of companies no longer in scope still plan to maintain or expand reporting – indicating how mandatory rules are setting new expectations across the wider market.

SCALING FINANCE THROUGH MARKET MECHANISMS

In the U.S., Google, McKinsey & Company and Meta are backing a 100,000-acre reforestation project in Appalachia, developed by Living Carbon, with long-term offtake agreements through the Symbiosis Coalition to purchase over 130,000 tonnes of carbon removal.

Meanwhile, corporate demand for carbon credits is driving a boom in farmland credits across the U.S. and Europe, with leading platforms scaling rapidly as companies seek to generate and purchase credits across millions of acres of agricultural land.

Lastly, Boeing has agreed to purchase 40,000 tons of soil carbon removal from Texas-based Grassroots Carbon, helping to grow the market and support farmers to adopt soil carbon practices.

LATEST FROM THE COALITION

In her latest piece for Forbes, our CEO María Mendiluce argues why the rules-based system matters to business, pointing to a widening gap between the rules countries have agreed to, and how power is exercised in practice.

Writing in Financial Times Sustainable Views, our Director of Net Zero Finance, Jane Thostrup Jagd explores how CBAM could reshape where transition capital flows.

Meanwhile, the SME Climate Hub, in partnership with Giki and with support from the UK Government, has officially launched its new Climate Action Planner, designed to help SMEs to create a personalized Climate Action Plan in about 60 minutes.

And on May 12, we’re co-hosting a webinar with Ceres and Climate Group “From Guidance to Action: Accelerating Fleet Electrification,”including a discussion with business leaders on how they’re creating a competitive advantage by electrifying their fleets.

COMPANIES TAKING ACTION

Meanwhile 23,062 companies of all sizes continue to take credible and ambitious climate action through Coalition and partner initiatives. See a snapshot of this action below.

See all companies who committed in the past month on the We Mean Business Coalition website. Companies setting their ambition for net zero include:

13,160 companies working to cut their emissions in line with science through SBTi

10,144 small and medium-sized enterprises working to cut emissions with the SME Climate Hub

647 companies who have now signed the Climate Pledge, to reach net zero by 2040

Companies are also driving down emissions through the following demand-side initiatives:

116 companies are accelerating the transition to electric vehicles through EV100

107 companies are committed to improving their energy efficiency through the Smart Energy Coalition

445 companies have committed to 100% renewable energy with RE100

36 companies have joined ConcreteZero to create a market for net zero concrete

43 companies have committed to SteelZero to create a market for net zero steel

EVENTS

From Guidance to Action: Accelerating Fleet Electrification, webinar with Ceres and Climate Group: 12 May
First International Conference on the Just Transition Away from Fossil Fuels: 28-29 April