ACCIONA supports the Declaration on setting the price of carbon led by the World Bank

Climate change is one of the biggest challenges in the world today, and its puts the development and prosperity achieved over several decades at risk. The latest report published by the IPPC (Intergovernmental Panel on Climate Change) has highlighted the need to set a price of carbon to contain the average increase in temperature worldwide so that it should not exceed 2º Centigrade.

In the Declaration, led by the World Bank, governments and companies undertake to work and cooperate with the aim of ensuring that a carbon price is applied throughout the world economy. This would be achieved through support for:

• Policies to reorientate investments in line with the challenge of climate change
• Strengthen the application of existing policies to better manage investment risks and opportunities
• Cooperation through a number of support platforms, exchanging information on the setting of the price of carbon. 

The Declaration will also urge companies to express their support for the setting of a price for carbon as a necessary step towards dealing with climate change.

Along these lines, ACCIONA signed up to the Communique on the pricing of carbon emissions in November 2012.  The document was coordinated by The Prince of Wales's Corporate Leaders Group on Climate Change (EUCLG), with support from the World Business Council for Sustainable Development (WBCSD), the Corporate Leaders Network for Climate Action (CLN) and the International Emissions Trading Association (IETA).