The company is the first Spanish utility to have emission reduction targets validated by the Science Based Targets initiative
ACCIONA has established science-based emission reduction targets, specifically a 16 % reduction in greenhouse gases (GHG) emissions by 2030 from a 2017 baseline; these targets have been validated by the Science Based Targets (SBT) initiative. These ACCIONA's emission reduction targets validated by SBT are added to the company's other efforts in the leadership against climate change.
This commitment, and the decision to measure fulfilment using scientific criteria, are in the framework of ACCIONA's Sustainability Master Plan 2020 and its adoption of the goal set in the Paris Agreement of limiting the increase in the global temperature to below 2 ºC.
Science Based Targets (SBT) is a partnership headed by CDP, the UN Global Compact, World Resources Institute (WRI), WWF and We Mean Business with the goal of helping companies to establish ambitious climate goals based on science in order to reduce greenhouse gas emissions and limit global warming to below 2 ºC, by seizing opportunities during the transition to a low-carbon economy.
The ambition of cutting GHG emissions by 16 % is shaped by the company's initial position and by the introduction of strict, measurable, globally accepted metrics certified by a scientific institution.
Submitting the emission reduction commitment to SBT introduces a quality certification of the company's decarbonisation policy; the purpose of the SBT initiative is to ensure comparable real metrics of the efforts being made by business, by introducing measurement criteria that enhance the achievements' credibility.
“We are pleased that ACCIONA has set a science-based target aligned with climate science and the Paris Agreement,” said Lila Karbassi, Chief, Programmes, United Nations Global Compact. “By taking this step, ACCIONA has committed to reduce emissions from the production of their infrastructure and provide their customers with a cleaner source of energy. These actions show leadership in creating a green energy future and bringing about the transition to a low-carbon economy.”
At the Paris climate conference, ACCIONA took a step forward in its decarbonisation commitment by undertaking to be a carbon-neutral company from 2016.
In addition to its efforts to reduce GHG emissions, each year the company offsets the net balance of emissions from its activities using Clean Development Mechanism (CDM) certificates recognised by the UN. In this way, the company offsets its entire impact on global warming while contributing to the creation of an effective market in emissions certificates as an essential tool for decarbonising the world.
ACCIONA participates in the development of projects to fight climate change, with 8 projects in Mexico, India, Chile and Costa Rica registered in the Clean Development Mechanism (CDM). The company also participates in the voluntary carbon market through the Verified Carbon Standard (VCS) programme, with two wind projects in US.
Last year, the company avoided the emission of 14.4 million tons of CO2 thanks to generating electricity exclusively from renewable sources. Its business activity produced 1.2 million tons of emissions, which the company offset within its carbon neutrality policy while reducing its energy intensity (energy consumption per million euros of revenues) from 2.68 TJ to 2.63 TJ.
ACCIONA's work against climate change has been recognised by its inclusion in sustainability indexes and rankings, such as CDP Climate, CDP Water Security and CDP Supply Chain, FTSE4Good, STOXX Global Climate Change Leaders Index, Ethibel Sustainability Index, and the "2018 Global 100 Most Sustainable Corporations in the World" list, among others.