• The company advocates a pact that establishes global and national objectives to reduce green house gases to zero by 2100, backed by a strong carbon price

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.