ACCIONA is one of 28 companies calling on the private sector worldwide to take responsibility for the objective of limiting global warming to 1.5°C above preindustrial levels, and for companies to commit to having their greenhouse gas emissions reduction targets validated scientifically by the Science Based Targets initiative (SBTi).
The call responds to the UN Global Compact campaign, "Business Ambition for 1.5°C: Our Only Future", which aims to persuade the private sector to pressurize politicians to adopt firm scientific commitments to mitigate the 1.5°C increase in temperature above preindustrial levels. This supposes adopting the most ambitious commitment set out in the Paris Agreement - with the aim of achieving carbon neutrality by 2050.
ACCIONA has been carbon neutral since 2016, over 30 years before the above planned scenario. ACCIONA has achieved this by offsetting 100% of the emissions it has not been able to reduce by acquiring Certified Emission Reductions.
Additionally, as part of its climate change mitigation strategy, ACCIONA has set emission reduction targets based on science and validated by the SBT initiative. These targets focus on reducing greenhouse gas emissions by 16% between 2017 and 2030 and it will now make them even more ambitious to limit global warming to 1.5°C.
Companies that submit their emission reduction commitments to SBTi are certifying their decarbonization policies by obtaining a quality mark. The SBT initiative aims to provide real, comparable measurement of the efforts made by business.