‘Moving the Ball Forward’ on clean energy, climate equality

NORTHAMPTON, MA / ACCESSWIRE / Nov. 21, 2022 / Edison International

Edison International, Monday, November 21, 2022, photo press release

Edison International, Monday, November 21, 2022, photo press release

The United Nations climate conference in Sharm el Sheikh, Egypt, known as COP27, was marked by disagreement over topics such as the struggle to hold on to the limits of global warming. There is also good news, including an agreement between the United States and China to cooperate again on climate change.

Amidst all those potential distractions, the Edison International delegation at COP27 kept its eye on the ball, with a packed schedule of meetings with world leaders and its own continued leadership in the pursuit of a clean energy future.

“COP is an excellent environment to share ideas with other leaders from around the world, to show our commitment to what needs to be done and, frankly, to keep the ball moving forward,” said Pedro Pizarro, president and CEO of Edison International. He spoke at an event billed as “A Recharged US Climate & Energy Landscape,” one of eight COP27 panel discussions with the Edison leader.

Pizarro expressed satisfaction that the US has followed the example of the state of California in taking specific measures to reduce carbon emissions. He also expressed the hope that other countries will follow suit.

“Looking at California as an example to the world, and we’re about the fifth largest economy, one of the things we did at the beginning of my CEO term was look at what it would take to to have the entire economy, not just our industry, reach net zero (carbon emissions) by 2045,” Pizarro said. “And the bottom line is we see that using clean energy to power the economy, primarily electricity, using clean fuels where it’s hard to electrify is the most affordable and fastest way to get to net zero.

“What’s really needed now is a greater sense of urgency,” Pizarro said, pointing to Pathway 2045 and Mind the Gap, two groundbreaking analyzes of the steps needed to decarbonise California’s economy and help catastrophic damage from climate change to prevent.

Also representing Edison at COP27 were Drew Murphy, Edison International senior vice president of Strategy, Corporate Development and Sustainability, and Caroline Choi, Edison International and SCE senior vice president of Corporate Affairs.

“We have participated in panels and individual meetings to promote the critical role of the electrical industry in helping the US meet its commitment to achieve 50-52% economy-wide emissions reductions by 2030,” said Choi. “Much of the focus is on implementation, and it has been encouraging and stimulating to see these ambitious goals being worked on.”

With predictions of a looming global recession at COP27, questions about the costs of transitioning to a clean energy economy remain. As Pizarro has often said, “The cost is high, but the cost of inaction is greater.”

A challenge is to ensure that these costs are not disproportionately borne by the poorest energy consumers. Edison’s COP27 delegation stressed that the transition could be not only affordable, but fair in the long run.

“Yes, investments have to be made up front,” Pizarro said. “But our analysis sees average consumer energy bills — natural gas, gasoline, electricity — falling by a third in real terms by 2045.”

To learn more about Edison International’s commitment to a clean energy future, visit edison.com/clean-energy.

For more information about Edison at COP27, visit edison.com/COP27

See more multimedia and more ESG stories from Edison International at 3blmedia.com.

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SOURCE: Edison International

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