ACCIONA celebrates the entry into force of the Paris agreement

The Paris Agreement comes into force after more than 20 years of climate negotiations and just three days before the beginning of the Marrakech climate summit (COP22). This was made possible because the agreement has been ratified by 92 countries accounting for 71.95% of global emissions, exceeding the required threshold.

This framework agreement sets out a clear path to reduce greenhouse gas emissions with the goal of limiting global warming to 2ºC with respect to the pre-industrial era, with efforts being made to achieve 1.5ºC. To achieve this goal, the countries voluntarily published their commitments to combating climate change (NDCs, in UN jargon); according to the International Energy Agency, the aggregate of the NDCs will bring us close to a 2.7ºC increase in temperature.

At the Marrakech climate summit (COP22), to be held from 7 to 18 November, governments, NGOs, companies and civil society will debate issues relating to energy, water, the oceans, forests, cities, transport, gender, agriculture and food security. COP22 faces the challenge of specifying many of the issues raised in the Paris Agreement with regard to such matters as finance, transparency and market mechanisms such as carbon pricing.

ACCIONA played an active role in COP21, and it announced a commitment to be carbon neutral in 2016. That commitment came after ACCIONA concluded a 5-year Sustainability Master Plan, in which it achieved such goals as a 46% reduction in CO₂ emissions and avoided 85.7 million tons of CO₂ (since 2009) due broadly to renewable energy generation. The Company exceeded its objectives and enters a new phase with the strategic priority of mitigating climate change under a new Plan running to 2020.

ACCIONA was present at the Paris Agreement signing ceremony at the United Nations headquarters in April 2016 and it will also participate in COP22.

Infographic: main features of the Paris Agreement