2022 Marrakesh Summit closes with GSEP Summit Statement

June 2, 2022

MARRAKESH SUMMIT STATEMENT

Today electricity accounts for almost one-fifth of total final energy consumption in the world. Global electrification has progressed by over 10% over the last decade. Although declining, fossil fuels still account for over two-thirds of the final energy mix, thus greater progress needs to be achieved to meet climate goals.

With commitments to reach net-zero greenhouse gas emissions by 2050 rising across sectors, many challenges are emerging globally. The current energy crisis must not hinder the energy transition but a call to accelerate efforts towards decarbonization and energy independence. We must work together to ensure abundant, reliable, affordable and clean energy for our communities, so that economic and social progress can be achieved.   

Electrification plays a key role in all major decarbonization scenarios, but action is currently falling short of these goals for many regions. Electrification must double its progression rates by 2030 and accelerate in order to keep the door open to reaching the goals set out in the Paris Agreement.

As global leading electricity companies at the heart of the energy transition and the electrification revolution, we are committed to advancing beneficial electrification and the increased and efficient use of low-carbon electricity in the transportation, building and industry sectors, accelerating and making possible the achievement of climate, economic development, and social advancement goals.

Increased electrification must go hand-in-hand with the decarbonisation of the power sector. More than half of GSEP members’ combined electricity is generated from low-carbon sources, which is considerably higher than projected in IEA’s Sustainable Development scenario. In addition to our commitment to decarbonization, we are also dedicated to developing smarter power grids that can empower customers, enhance system efficiency, reliability and resilience, and reduce long-term costs.

It is clear that electric utilities cannot achieve the energy transition alone and GSEP is focused on fostering collaboration with customers and stakeholders of the energy sector from all continents. We are delighted to have built bridges this year between GSEP and the African and Arab electricity industry under ONEE’s active leadership.

It is our duty to accompany business and industry leaders to identify and lift hurdles to advance the decarbonization and electrification of our economies. Our work on that front has been flourishing in the last years. Decision and policy makers also have a key role to play, as energy policies are essential to accelerate zero-carbon electrification, both by creating a level-playing field with other fuels and by supporting the deployment of nascent technologies.

Electricity is the energy of the 21st century, and we hope you can join our efforts to accelerate the electrification and decarbonization of our economies.

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