Electricity companies call on development finance institutions to join forces to implement the Paris Agreement
The member companies of the Global Sustainable Electricity Partnership (GSEP) – which produce nearly a third of the electricity in the world – today extended their 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.
In an open letter, the GSEP says its member firms offer unique insight and collaboration capabilities. Affirming their determination to lead the global effort to avoid and reduce carbon dioxide emissions, GSEP members are convinced that by optimizing existing technologies and deploying advanced and innovative technologies as they become commercially available, countries will be able to reduce their carbon emissions on schedule.
The Paris Agreement, the letter adds, aligns perfectly with GSEP’s four recommendations last year:
- establish stable, long-term policy frameworks
- develop a systemic approach to electricity systems
- promote and engage in public-private partnerships, and
- make urgent progress with innovative research and development.