The latest insights from the We Mean Business coalition

March 6, 2025

Signals of change – March 2025

We Mean Business Coalition

You can also subscribe to Signals of Change on LinkedIn. Here are the latest signals of change towards….

Accelerating a just transition from fossil fuels to clean solutions

First up, the UK’s Climate Change Committee has released its Seventh Carbon Budget, charting a course for an 87% reduction in emissions by 2040 and full decarbonization by 2050, emphasizing electrification, private sector investment, and long-term cost savings for households. It comes as a new study of 750 UK businesses and 50 public sector organizations by PwC reveals that the proportion of large organizations committed to achieving net-zero emissions by 2030 has increased from 28% to 47% since last year.

Meanwhile, the European Union has launched its Clean Industrial Deal, a €100 billion investment plan aimed at decarbonizing energy-intensive industries, supporting clean manufacturing, and balancing climate goals with economic competitiveness.

Next to India, where ArcelorMittal Nippon Steel India has commissioned a 211.2 MW solar installation in Andhra Pradesh as part of its 975 MW hybrid renewable energy initiative. This will supply over 20% of the Hazira plant’s electricity needs and reduce carbon emissions by 1.5 million tons annually.

Over to the U.S., and in industrial decarbonization news, Skyven Technologies has entered a $70 million co-development and project finance agreement with France’s Kyotherm to accelerate the deployment of steam-generating heat pump technology across U.S. industrial facilities, aiming to reduce emissions and improve air quality.

Turning to energy, the U.S. is set to add a record 63 GW of new power capacity in 2025, with 93% coming from non-fossil fuel sources—led by solar and battery storage—marking a significant shift toward renewable energy.

Latest from the Coalition

We Mean Business Coalition CEO María Mendiluce and CISL’s new CEO Lindsay Hopper argued in Reuters of the dangers of ditching the European Green Deal. The Coalition commented on the announcement of the EU’s Clean Industrial Deal and Omnibus package..

Also in Reuters, our Board Chair Sir Ian Cheshire set out why the UK needs a new green economic story, not a race to the bottom.

Owen Bethell, Global Public Affairs Lead, Environment at Nestlé outlines the importance of responsible policy engagement. Watch video.

Karen Pflug, CSO at Ingka Group talks to us about the policies and permitting needed to create a level playing field to drive the clean energy transition. Watch video.L

Lastly, the Beyond Alliance has launched its Afforestation, Reforestation, and Revegetation (ARR) Common App, an open-source tool for companies to streamline project information requests. Read the full announcement.

Protecting and restoring nature

First up, French retail giant Carrefour has made progress in its effort to reduce illegal deforestation in its supply chains. In late 2024, Carrefour strengthened its deforestation strategy by expanding monitoring beyond direct suppliers to all farms supplying its beef slaughterhouses, leading to the reevaluation of 8,687 farms and the delisting of 705 non-compliant farms across Brazil.

Meanwhile, Brazil’s environmental agency Ibama has kicked off a year-long project to tackle illegal logging in the Amazon rainforest, with an operation resulting in fines worth $2.7 million .

Lastly, Chicago-based commodities trader Archer Daniels Midland (ADM) has pledged to maintain its climate commitments even as the Trump administration is loosening sustainability regulations. The company says it will double down on its investments in regenerative farming, converting an additional 2 million acres to sustainable practices.

COP30 and the business of conservation: With COP30 set to take place in Belém, Brazil, a city located at the gateway to the Amazon rainforest in the state of Pará, Luke Pritchard, Director of the Beyond Alliance, takes a closer look at recent progress on reducing deforestation and scaling reforestation initiatives in the state – including a new role for business.

Finance: regulation and reporting

First to New York, which has reintroduced Senate Bills 3456 and 3697, aiming to mandate climate risk and greenhouse gas emissions disclosures from large companies operating in the state, with reporting requirements potentially starting as early as 2027. These measures appear similar to those that would have come into effect under the SEC bill.

Meanwhile, Australia has initiated a significant shift by implementing ISSB-aligned mandatory climate-related financial disclosures for approximately 1,800 large companies, requiring them to report on climate risks and opportunities across their value chains.

Lastly to Jordan, where the Amman Stock Exchange has become the first in the Middle East to launch a climate-related disclosure regulatory framework and guidance. The regulation will require ASE20 index companies to comply with IFRS S1 and IFRS S2 for climate-related disclosures starting from 1 January 2027.

Companies taking action

Over 18,921 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:

9914 companies working to cut their emissions in line with science through SBTi

9007 small and medium-sized enterprises working to cut emissions with the SME Climate Hub

544 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 5 companies are kickstarting the transition to zero-emission medium- and heavy-duty vehicles with EV100+