Signals of Change – June 2025
We Mean Business Coalition
Accelerating a just transition from fossil fuels to clean solutions
First to energy efficiency – one of the best ways to reduce reliance on fossil fuels. A piece published ahead of the IEA’s global conference on the issue highlights how efficiency gains across the G20 in industry and services have avoided energy use equivalent to India’s entire consumption – while industry now produces nearly 20% more per unit of energy, enhancing competitiveness and protecting jobs.
The conference itself saw nearly 50 governments reaffirm their commitment to energy efficiency as a key strategy for enhancing energy security, lowering costs, and boosting economic competitiveness, Alfa Laval’s CEO and other industry leaders signing the CEO commitment to advance industrial energy efficiency, and the launch of a new report on the Multiple Benefits of Energy Efficiency and an Energy Efficiency Progress Tracker.
Next to the acceleration of renewable energy in Asia, starting with Japan which has passed a new law allowing offshore wind development in its Exclusive Economic Zone, opening deepwater areas for large-scale floating wind projects as part of its goal to reach up to 45 GW of offshore wind capacity by 2040.
New analysis from BloombergNEF has found that solar, wind, and battery storage are now the most cost-effective path for Thailand to cut emissions and reduce reliance on LNG gas, making them more viable than retrofitting thermal plants with hydrogen or ammonia. While new Philippines-focused analysis by BloombergNEF also found that solar power is already the cheapest energy source in the country.
China set a new milestone in its renewable energy transition, with wind and solar generating a record 26% of its electricity in April 2025—driven by a massive surge in solar capacity that tripled its share since 2020—while fossil fuel use declined, signalling a structural shift toward cleaner energy.
In early 2025, Pakistan sourced 25% of its utility electricity from solar power—now its largest energy source—driven by a massive surge in Chinese solar module imports and a national push toward 60% renewables by 2030.
Meanwhile, in the EU structural shifts towards electrification and renewables mean that gas demand is projected to fall 7% by 2030, raising the likelihood of stranded LNG assets – according to a new report by Ember.
And lastly to the UK, where clean energy was given a boost in the government’s 2025 Spending Review which delivers record investment in energy efficiency, clean infrastructure, and affordable housing—seen as a strong commitment to the net-zero transition, boosting energy security, lowering bills, and creating green jobs.
Latest from the Coalition
- The EU’s Next NDC: An Opportunity To Strengthen Energy Security And Industrial Competitiveness is a collaboration with Corporate Leaders Group Europe which builds on the Business Call to Action for Ambitious and Investible NDCs released last year. It calls for policymakers and businesses to work together to deliver a NDC that not only puts the EU on track to achieve climate neutrality by 2050, but is actionable and investible.
- The Paris Agreement and the UNFCCC COPs benefit from the active corporate engagement to provide inputs from the real economy. But responsible corporate advocacy needs to be science-based, accountable and publicly disclosed. At the UNFCCC conference in Bonn, business groups united behind a call for higher standards on corporate engagement as part of UNFCCC processes, especially participation at COPs. Read the Business Call for Accountability.
- See new, interesting, and unusual CSRD reporting solutions from the EU’s 100 largest listed companies in our new report and read our accompanying blog on how Europe’s largest listed companies are turning climate reporting into real investment intelligence. Read more and learn how European climate reporting is maturing in the Financial Times Sustainable Views.
- As more EU firms are starting to disclose climate advocacy under CSRD, we analyse how companies are interpreting the guidance with examples of best practice and areas for further refinement.
- Our joint blog with WBCSD highlights the role of trade associations and a new playbook produced with Volans to strengthen how companies manage and engage with them.
Decarbonizing supply chains
First up, Microsoft has signed a deal to purchase over 600,000 tons of low-carbon cement to reduce its embodied carbon footprint and accelerate the clean construction materials market, supporting the scale-up of breakthrough cement technologies and reinforcing its broader climate strategy.
Volvo Cars and JLR are taking major steps to future-proof electric vehicle supply chains, with Volvo securing recycled steel from SSAB for its next EV model and JLR creating 50 new specialist roles to enhance supply chain resilience, traceability, and ethical sourcing amid rising demand and geopolitical uncertainty.
Protecting and restoring nature
First up, the UK government has launched a call for evidence from businesses and financial institutions on how to scale private investment in nature restoration, aiming to close a major funding gap and support its goals, including protecting 30% of land and sea by 2030.
Meanwhile, at the third U.N. Ocean Conference, more than 20 new marine protected areas were announced by countries including Chile, Colombia, and Tanzania, marking progress toward the global goal of protecting 30% of the ocean by 2030, though experts stress that many more are still needed. Ahead of the conference, we joined more than 80 signatories from 25 countries in calling for accelerated global cooperation for our oceans coordinated by the International Chamber of Commerce.
Finance: regulation and reporting
A new global study by IFAC, AICPA & CIMA shows that 73% of large companies now seek assurance on at least some of their sustainability disclosures—up from 51% in 2019—reflecting growing demand for trusted, verifiable ESG reporting, particularly on greenhouse gas emissions.
Meanwhile, SBTi has launched a consultation on updated climate target-setting requirements for automakers, including new criteria to increase low-emission vehicle sales and stricter emissions accounting guidance, aiming to align the sector more closely with global goals.
Lastly, AXA Climate and Climate School have released a white paper and training module to help organisations develop effective climate adaptation strategies, offering practical tools, risk assessment methods, and real-world examples to prepare for the growing impacts of global warming across all sectors.
Deep Dive: EU Climate targets are key to energy security and competitiveness
EU Climate and Environment Ministers met in Luxembourg this week to discuss the key issues on the road to COP30, including the timeline to agree the updated NDC and 2040 climate target, both of which will be agreed in the coming months. Our new blog post by Andrew Prag, Managing Director for Policy at We Mean Business Coalition and Ursula Woodburn, Director at Corporate Leaders Groups Europe offers takeaways from the meeting, and underscores the need for the EU to agree robust climate targets.
Read our long-form analysis
Companies taking action
Over 19,721 companies are taking action through Coalition partner initiatives. See all companies who committed in the past month on the We Mean Business Coalition website. Companies setting their ambition for net zero include:
- 10,828 companies working to cut their emissions in line with science through SBTi
- 9,298 small and medium-sized enterprises working to cut emissions with the SME Climate Hub
- 558 companies who have now signed the Climate Pledge, to reach net zero by 2040
Meanwhile, companies are driving down emissions through the following demand-side initiatives:
- 130 companies are accelerating the transition to electric vehicles with EV100, and 7 companies are kickstarting the transition to zero-emission medium- and heavy-duty vehicles with EV100+
- 129 companies are committed to improving their energy efficiency through EP100
- 444 companies have committed to 100% renewable energy with RE100
- 39 companies have joined ConcreteZero to create a market for net zero concrete
- 45 companies have committed to SteelZero to create a market for net zero steel
Events
London Climate Action Week – 21 – 29 June
G7 – 15 – 17 June
Climate Week NYC – 21 – 28 September
COP30 – 10 – 21 November
G20 – 22 – 23 November
Careers
Various posts at BSR
Various posts at CDP
Various posts at Ceres
Various posts at Climate Group
Various posts at WBCSD
Various posts at SBTi