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Electricity giants extend their might to financial institutions on advanced tech path to Paris goals

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Credit: GSEP

An association of global electricity giants today extended their members' collective might and expertise to development finance institutions and other international organizations to jointly identify necessary electricity technology investments that can deliver lower or zero carbon emissions needed to reach the Paris climate goals. Targeted advanced electricity technology investments can help countries reduce their carbon emissions on schedule.

In an open letter, the Global Sustainable Electricity Partnership (GSEP) says its nine member firms offer unique insight and collaboration capabilities. Members encourage development finance institutions to contact GSEP.

Full text of the statement:

As a group of leading electricity companies participating in the Global Sustainable Electricity Partnership, we believe that the electricity sector has a special role to play in the successful implementation of the Paris Agreement on climate change.

Organizations like ours are uniquely placed to collaborate with development finance institutions to help identify the most effective electricity technology investments in the right mix, amount, time and place, in order to deliver lower or zero carbon emissions while taking into account the respective contexts of the countries and the resources available. We are at an opportune moment to work together to build, collaborate, and innovate for a low-carbon future.

The final terms of the Paris Agreement correspond to what our respective members have been promoting for years individually and through the Global Sustainable Electricity Partnership. There is a strong alignment between the final terms of the Paris Agreement and the four policy recommendations that we made as a contribution to the 21st Conference of the Parties in an open letter to policymakers to establish stable, long-term policy frameworks, to develop a systemic approach to electricity systems, to promote and engage in public-private partnerships, and to make urgent progress with innovative research and development in order to help secure a better climate, economic growth and development worldwide with electricity.

As a group of major players in the field who deliver one third of the electricity consumed in the world of which approximately 60% is with no direct carbon emissions, we are at the forefront of the energy transition. With our dedicated sustainable energy experts, we have worked closely with governments to develop and commission nine renewable energy projects that support their national energy strategies, as well as delivered over 70 capacity-building initiatives with international partners on sustainable electricity technologies, generation, and enabling institutional environments, most notably on public-private partnerships in the electricity sector, that have reached over 110 countries.

Our commitment to a better climate goes beyond our sustained efforts to deliver lower-carbon electricity to our customers. There is an increasing need for electricity in today's world: more than 2 billion people still do not have access to any electricity or to a reliable network that would allow for productive use of electricity. At the same time, electricity will also play a major role in responding to the climate challenge worldwide. Our companies are ready to implement and deliver lower-carbon electricity, which represents the most effective vector of all energy systems for addressing climate change while ensuring economic growth and improving the quality of life of millions of people.

The challenge that remains is to define and implement public policies and investment plans that will channel technology investments and help countries deliver their nationally determined contributions.

To overcome this challenge, we call for joining forces with development finance institutions and other international organizations to help identify technology investments that will achieve the ambitious goals of the Paris Agreement. Together, we can make it happen.

GSEP's four recommendations to help secure a low-carbon future:

Establish secure, stable, clear, consistent and long-term policies that address critically important energy, legal/regulatory, economic development, financial and environmental matters with the goal of ensuring an adequate supply of cleaner, secure, reliable, accessible and affordable electricity to tackle climate change.

Develop a systemic approach to electricity systems which takes into account the interrelations and synergies between the various elements of the electricity value chain, in order to enable electricity providers to plan, design, construct and operate the most advances electricity systems with the goal of providing cleaner, reliable, sustainable secure, flexible, and resilient electricity infrastructures.

Promote and engage in public-private partnerships that facilitate decision making among electricity providers, government representatives, and private stakeholders and that foster the development and deployment of new commercially available technologies.

Make urgent progress with innovative research, development and demonstrations of advances economically viable technologies that will reduce greenhouse gas emissions and accelerate the efficient generation, delivery and end-use of electricity.

About the GSEP

The Global Sustainable Electricity Partnership (GSEP) is a not-for-profit organization created in 1992 whose members are the world's leading electricity companies. We are active in the promotion of sustainable energy development, in particular through our active participation in global debates on electricity-related issues, the deployment of human capacity building programs, and the implementation of renewable energy demonstration project in developing or emerging countries. To date, the GSEP's activities have reached participants from over 110 countries. For more information about our organization, please consult our website: http://www.globalelectricity.org

It is with great satisfaction that the leaders of the GSEP member companies noted the alignment between the terms of the Paris Agreement and their four recommendations for the establishment of stable and long-term institutional frameworks, the adoption of a systemic approach to electricity systems, and encouraging support for public-private partnerships, as well as for innovation.

GSEP member companies: http://bit.ly/2fknuxh

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