77% of Spanish companies link remuneration to climate change objectives

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Spanish companies have never been more efficient in their climate change management, which allows them to consolidate themselves among the best European practices. However, given this good data, they still need to make progress in setting specific long-term emissions reduction objectives. These are the main conclusions of the CDP Iberia 125 Report, prepared by Ecodes based on PwC evaluations, presented this morning in Madrid. The document analyzes the climate change strategies, the evolution of greenhouse gas emissions and the associated risks and opportunities, of the 85 largest listed Spanish companies, as well as 40 Portuguese companies (93% and 82% of the market respectively).

The setting of specific emissions reduction objectives is a particularly sensitive point in the face of an economic recovery scenario, since Spanish companies run the risk of experiencing a precipitous increase in their greenhouse gas (GHG) emissions and a decrease in their international competitiveness, if a stronger commitment is not established or the implementation of long-term environmental strategies is not established.

The report also highlights how 92% of the companies in the Iberia 125 sample have the responsibility for climate change management directly assigned to the board of directors, a committee thereof, or a senior executive of the company. Additionally, 77% offer monetary incentives to their employees for achieving objectives related to climate change.

This improvement in day-to-day management does not Europe Cell Phone Number List translate into a significant reduction in GHG (greenhouse gas) emissions, as it reduces the proactive attitude of companies in this field. In figures, this translates into a 10% increase in the short-term reduction objectives of Spanish and Portuguese companies, while long-term objectives have decreased by 26% and the number of long-term reduction initiatives by 27%.



Finally, it is worth noting that, despite the fact that this year five more companies responded to the questionnaire than in the 2012 edition, the number of companies that have presented a valid verification has been reduced by one, compared to last year; a setback that It does not correspond to the trend in most European countries, where emissions verification is already a consolidated criterion.

Steven Tebbe, director of CDP for Europe, states that “investors are no longer only interested in knowing what impact climate change will have on companies but in how and when that impact will occur and what degree of preparation companies have to manage these impacts.” risks and avoid possible economic repercussions. Companies that have successful long-term strategies in this area obtain a competitive business advantage that will help them position themselves more attractively to investors.”

For his part, Víctor Viñuales, director of Ecodes, assures that “it is necessary that in addition to international negotiations, all agents do everything possible for a low-carbon economy. The improvement in climate change management in Spanish companies is a good sign, but it is essential that they significantly reduce their carbon emissions. Not only investors, but also the government and citizens are going to demand it.”

For Mari Luz Castilla, partner responsible for Sustainability and Climate Change at PwC, “in Spain we have a good number of companies in the highest global climate change management indices, well above what would correspond to our participation as a country. . But the current economic environment demands new commitments from companies that justify and value their contribution to society. For this reason, companies must move towards a broader approach to measuring and managing environmental impact, based on long-term objectives and affecting other areas (social, economic or fiscal, among others.