Business leaders are now driving much of the world's clean-energy build-out, and market returns rather than government mandates are increasingly the force behind it. That is the central theme of TIME100 Climate, the annual list that recognizes the most influential figures pushing business climate action, now in its 2026 edition of 100 leaders. The list, which launched in 2023, weighs measurable results from the past 12 months.
The shift the honorees illustrate is one of motive. Rather than relying mainly on Washington policy, new clean-energy investment is increasingly being pursued because it makes financial sense. The International Energy Agency projects that clean-energy investment will nearly double fossil-fuel investment this year, a gap that reflects where capital is flowing. TIME frames the change as value and bottom lines now carrying the transition, not only values.
Among the honorees is Fervo Energy, a geothermal company that went public in May in one of the largest U.S. clean-energy initial public offerings. Its Cape Station project in Utah is slated to reach 100 megawatts by the end of 2026, with 400 megawatts planned by 2028. In September, Google agreed to a deal with Fervo to help power a future data center, a sign that large technology buyers are signing on to new energy sources.
Data infrastructure is also reshaping power demand in Europe. Start Campus is developing a 1.2-gigawatt data campus in Sines, Portugal, that will run on renewable electricity and use seawater cooling. Microsoft has reportedly announced a $10 billion investment in the Sines site. In Spain, Iberdrola España, led by CEO Mario Ruiz-Tagle, is expanding its wind and solar capacity. Households there are reportedly saving about 10 euros a month on energy bills.
Electrification of transport is advancing in emerging markets as well. Mahindra Last Mile Mobility, led by CEO Suman Mishra, reports 85 percent growth and is the leader in India's electric three-wheeler segment. In Chile, Juan Carlos Muñoz has pushed electric public transport, and Santiago now operates the largest electric bus fleet outside China. BasiGo, led by CEO Jit Bhattacharya, leases electric buses in Kenya and Rwanda, lowering the upfront cost barrier for operators.
An open question is whether this market-driven momentum can hold without sustained federal policy support. The honorees' results suggest that private capital and corporate buyers can sustain significant projects, but the durability of that trend over the longer term remains uncertain.