GSEP took part in COP27 in Sharm el-Sheikh, Egypt to reaffirm the importance of low-carbon electrification as the pathway to achieving the climate goals set out in the Paris agreement. Electricity is a key enabler of the energy transition and the decarbonisation of our economies, with sweeping benefits including CO2 reduction, greater energy security, and increased efficiency.
Well-designed and cost-effective electrification policies and regulations are essential to help enable and accelerate electrification. If enacted swiftly, favourable climate and energy policies could level the playing field between electricity and other power sources, encouraging the adoption of more sustainable technologies and leading to the decline of the most polluting fossil fuels.
In recent years, significant gains in electrification have been realised around the globe, as outlined in the Global Electrification Monitor, but the share of electricity needs to increase rapidly and reach around 50% by 2050 if the global 1.5-degree target is to be kept within reach. It is crucial that policymakers, businesses, and communities remain committed to achieving this target and advancing low-carbon electrification if we are to address the current climate crisis.
Forward-thinking companies from the power sector have a crucial role to play in the acceleration of electrification. GSEP members have committed to action steps including advocating for pro-electrification policy frameworks, developing innovative new business models, and ensuring a swift and efficient transition equipped with the proper infrastructure.
At COP27, GSEP actively participated to emphasize the urgency of accelerating the pace of electrification and hosted two panels continuing to put a spotlight on electricity as the key to a zero-carbon future. Experts discussed practical strategies for electrifying and decarbonising the energy mix, as well as further opportunities for collaboration between businesses and utilities to stimulate the uptake of electrified energy solutions.
Visit the event pages below for more information and to see the replays.
Tuesday, November 15th – 10:30 to 11:30 EET | Pavillon de la Francophonie
Hydropower’s role in achieving an electrified and decarbonised economy
The Global Sustainable Electricity Partnership (GSEP) with the International Hydropower Association (IHA) co-organized a panel that assessed the role of hydropower in decarbonising the energy mix.
This panel was hosted in French.
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Wednesday, November 16th – 16:30 to 17:30 EET | Business Pavilion for Climate Leadership (no. 128), Auditorium B
Catalyzing electrification: Building synergies across value chains
Although electrification has been identified as a key enabler to achieve net-zero targets, its pace is still far too slow to ensure a 1.5°C trajectory. Increased synergy between stakeholders is needed to unlock new business cases and propel a zero-carbon future.