Signals of Change - July 2025

A just transition from fossil fuels to clean energy

700-plus events and more than 45,000 attendees, double the size of last year’s event. At the start of the summit, the UK Government unveiled a new Industrial Strategy, pledging to cut electricity costs by up to 25% for over 7,000 manufacturers from 2027. The strategy was discussed by Energy Secretary Ed Miliband at a UK Corporate Leaders Group and Aldersgate Group event, where he noted the falling cost of renewables as “the economic opportunity of the 21st century” and called on businesses to be vocal in their sustainability efforts.

Launched on the same day at LCAW, WBCSD’s Business Breakthrough Barometer showed that companies are continuing to get on with the business of climate action, with the business case being stronger than ever. 91% of business leaders say their companies have maintained or increased transition-related investments over the past year, indicating that companies are only too aware of the economic opportunities of the transition.

Moving away from London, the European Commission took an important step to keep leading on tackling climate change. The proposed Climate Law amendment, with its headline EU 2040 target of a 90% reduction in emissions, marks an impressive line in the sand in the context of a challenging geopolitical and trade context. The headline target includes the use of flexibilities including carbon credits – the precise mechanism for how these can be used is now being drawn up.

In Flanders, where we’re witnessing the consequences of rapid industrial electrification in action. A surge in electricity demand has prompted grid operator Fluvius to invest €200 million to upgrade or replace 7,500 km of medium-voltage lines—an increase from the 5,500 km projected in 2022. This proactive expansion enhances grid capacity, ensuring reliable power for businesses shifting to electric boilers and other industrial electrification measures.

In California, plans to move entire low-income neighbourhoods off gas by electrifying homes at scale are being advanced by community group Alliance of Californians for Community Empowerment (ACCE) Action, who have convinced utility Pacific Gas & Electric to support the effort. ACCE Action has applied to the California Public Utilities Commission to participate in one of 30 pilot programs over the next five years.

Lastly to Nepal, which is charging ahead on EV adoption. There, around 70% of new passenger vehicles are now electric, driven by availability of hydro-powered clean energy, tax breaks, and expanded charging infrastructure. Import duties for ICE vehicles remain as high as 300%, compared to 25%-90% for EVs depending on model and battery capacity.  Through smart policy, the government has enabled a leapfrogging opportunity to embrace clean mobility.

Deep dive: Efficiency first – a decarbonization powerhouse hiding in plain sight

Energy efficiency is a powerful but underused driver of energy security and competitiveness, reducing costs, easing pressure on supply, and strengthening economic resilience, write Molly Walton, Director, Energy at We Mean Business Coalition and Sam Kimmins, Director of Energy at our founding Coalition partner Climate Group. Read our long-form analysis

Protecting and restoring nature

Back to the UK, where Defra has relaunched its £150 million Capital Grants scheme to support climate‑focused farming projects, such as tree planting, flood management, slurry storage, and wildlife enhancements. A recent ECIU survey of UK farmers found that 90% said extreme weather conditions had reduced productivity, while 75% said they have experienced financial loses.

Meanwhile, consumer goods brand Reckitt, pharmaceutical giant GSK and German retailer Edeka have joined the Freshwater Challenge’s global business supporter program, pledging to restore and protect damaged rivers and wetlands. Collectively the group will rejuvenate 300,000 km of waterways and 350 million hectares of wetlands by 2030.

Lastly, a UN-backed global investor coalition managing $9.5 trillion has urged its members to proactively address urgent deforestation risks across their portfolios. Publishing new guidance, the group is calling for increased transparency, risk screening, and engagement with companies to safeguard forest ecosystems and enhance long-term investment sustainability.

Latest from the coalition

• During LCAW, Coalition colleagues were busy co-hosting events, speaking on panels, and building partnerships. Read our highlights on LinkedIn plus key takeaways from our flagship CEO roundtable and the Women Leading on Climate event co-hosted with Nature and Climate Solutions.
• A new briefing co-developed with The Energy and Resources Institute (TERI) presents recommendations on how India’s next NDC can unlock private sector dynamism, innovation and investment in the clean energy transition at scale.
• Read our Climate Policy Director, Karl Vella’s takeaways on the UN Climate Change’s Bonn meetings. While many issues remain, there were fruitful discussions on NDCs and finance, and momentum towards finalizing decisions for COP30 in Belém.
• Read our CEO, María Mendiluce’s response to the EU Climate Law and the nomination of former Coalition CEO Nigel Topping to chair the UK’s Climate Change Committee.

Finance regulation and reporting

First to Europe where over 100 major companies and investors, including EDF, Nokia, Allianz, IKEA’s Ingka Group, have urged the European Union not to weaken the scope of the CSRD and CSDDD under the Omnibus simplification package, warning that doing so would reduce transparency, hinder climate and human rights protections, and jeopardize competitiveness and investor confidence.

Next up, GRI has launched updated standards to help organisations measure and report on emissions, energy use, and plans for a just low-carbon transition. The “integrated and global” standards align with major frameworks including the GHG Protocol, IFRS S2, ESRS, and SBTi’s target-setting requirements, to support more transparent and actionable climate disclosures.

Lastly, the ISSB has launched a major review of SASB Standards, issuing exposure drafts to comprehensively update nine priority industries and align metrics across 41 sectors with an aim to enhance integration with ISSB’s climate disclosures and improve decision-usefulness for investors.

Companies taking action

Over 20,218 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:

• 10,945 companies working to cut their emissions in line with science through SBTi
• 9,352 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
• 443 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

• 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 CLG Europe (CISL)
• Various posts at Climate Group
• Various posts at WBCSD
• Various posts at SBTi