ACCIONA, a pioneer of the ‘green’ economy with a business model focused on renewable energy and sustainable infrastructure, will take part in the Paris Climate Summit to support the efforts of the international community to reach a new binding and ambitious agreement to contain global warming.
ACCIONA will link up with other major private sector companies to call for binding objectives – both global and national – to reduce greenhouse gas emissions. The company will advocate the introduction of a price for carbon as the most effective market mechanism to channel investments in sustainable products and services, and will also call for a reform of subsidies for fossil fuels, which amount to more than 550 billion dollars a year according to the International Energy Agency.
To prevent global warming from crossing the 2ºC barrier – the limit marked out by the scientific community to prevent catastrophic changes to the climate – it will be necessary to reduce emissions between 40% and 70% up to 2050 and achieve a level close to zero emissions by 2100.
ACCIONA strongly believes that renewable energy sources will be a key factor in the fight against climate change, as the energy sector is currently responsible for more than two-thirds of CO2 emissions worldwide.
ACCIONA Chairman and CEO José Manuel Entrecanales says: "The voice of business is clear. We have the vision, commitment and technologies - such as renewable energy - to usher in a new era of low-carbon prosperity. A robust climate treaty in Paris will allow us to work alongside governments to put a stop to global warming."
In this direction, it is also important to point out the opportunities that a low-carbon economy opens up for companies and countries.
ACCIONA will be an observer of the multilateral negotiations in the Climate Summit and will take part in a number of forums involving the private sector and civil society organizations in Paris to support an agreement that will lead the planet in a new direction of sustainable and non-polluting growth.
ACCIONA is present in the main world forums on sustainability such as the High-level Group on Sustainable Energy for All sponsored by the United Nations and the World Bank, whose Renewable Energy Committee is chaired by ACCIONA President José Manuel Entrecanales. The company is also on the Management Committees of Global Compact LEAD and the Caring 4 Climate platform of the United Nations Global Compact, and has also signed up to the CEO Climate Leadership Group in the World Economic Forum de Davos and the We Mean Business coalition aimed at driving the climate agenda vis-à-vis COP21 in Paris.
ACCIONA has promoted a number of initiatives in these forums to urge international governments to make a strong commitment to reaching agreement in Paris. For example, ACCIONA recently signed a letter from the Corporate Leaders Group (CLG) and nine other international business organizations calling on the Treasury Ministries of the G20 countries to create a legal, fiscal and financial framework to promote a low-carbon economy, together with another letter from the CLG to the Environment Ministries of EU countries urging reforms to the CO2 emissions trading market to encourage companies to invest in technologies that contaminate less.
According to the Dow Jones Sustainability Index World, ACCIONA is a leader in climate strategy, achieving the highest rating in terms of Policies, Environmental Management Systems and Biodiversity. Earlier this year it was also recognized by the CDP this year with the top score in leadership and transparency in the fight against climate change.