Ferrovial signs a pioneering manifesto calling for a Law on Climate Change and the Energy Transition

Ferrovial has, together with 31 other Spanish companies, signed a pioneering manifesto in Spain on the issue of energy decarbonisation, urgently calling for rigorous and, indeed, essential regulation to consolidate the change process. This is further evidence of Ferrovial’s decided commitment to sustainability.  Ferrovial has, together with 31 multinational and medium-sized Spanish companies, signed the manifesto “Spanish companies for the opportunities of the Energy Transition and the fight against climate change.”  This pioneering initiative in Spain is coordinated by the Spanish Green Growth Group (GECV), and highlights the need for ambitiously addressing the energy transition process in the country. Group president Valentín Alfaya (who is also Ferrovial’s Corporate Director for Prevention, Quality and the Environment), warns that Spain 

“needs a roadmap now” and that the business sector “believes there is an urgency” to have a “sufficiently ambitious regulation” in place. 

The signatories to the manifesto call on public authorities to reach an agreement in 2018 for a Law on Climate Change and the Energy Transition “which is rigorous, ambitious and efficient, providing certainty for long-term investments”.  The 32 Spanish companies which are part of the manifesto believe the Law should include the following measures, as a minimum: 

1. Legally-binding targets for emissions reductions in Spain, on both a general and sectoral level, for the period 2030 to 2050, in line with EU commitments and the Paris Agreement. 
2. A price for carbon and a review of taxation rules to meet the principle of “polluter pays” without increasing the tax burden, and at the same time encouraging companies and citizens to adapt their activities to the new sustainable economy. 
3. Creation of a public body to lead, coordinate and supervise the decarbonisation process, as well as an independent authority to guarantee application of the model and to assess and report on performance. 
4. A progressive schedule for discontinuing all types of support for fossil fuels, together with a set of measures for promoting energy efficiency and the use of renewable energy in all sectors. 
5. Programmes to mitigate the eventual impact of the decarbonisation process on vulnerable groups, ensuring a fair distribution of the benefits of the process. 
6. An active and leading role for the Government, prioritising decarbonisation as a key consideration in public purchasing policies, making this a benchmark to follow. 
7. Measures for information and transparency on the international financial markets regarding the risks associated with climate change, its impact on the financial accounts of agents, and the need for greater transparency and proactiveness in this regard. 

Ferrovial stresses the fact that action against climate change and the energy transition provide financial and environmental opportunities for society and declares its firm commitment to decarbonisation. It will therefore continue to develop solutions and applications with this objective in mind and will support the activities carried out by the national and international business community to create a carbon-free economy and a better future for our society.