ACCIONA, a pioneer in sustainability planning and reporting, launched a new five-year Sustainability Master Plan (SMP) 2025, the company’s third successive blueprint for advancing its Environmental, Social and Governance (ESG) goals. The new plan includes over 80 initiatives that will make a decisive contribution to ACCIONA’s leadership in decarbonization and the development of sustainable Infrastructure. The key aim of the new Sustainability Master Plan is the introduction of advanced “regenerative measures” that will both enhance sustainability in ACCIONA’s projects and multiply the positive impacts of the company’s business activities.
The SMP2025 aims to make a positive contribution to the recovery of the planet’s resources. ACCIONA aspires to go beyond carbon neutrality, which the company achieved in 2016, by having “a positive impact on natural capital”. To do so, it will develop initiatives across four areas: climate, biodiversity, circular economy and water management.
Initiatives include new “zero waste” business models and the provision of water treatment and production services using advanced technologies.
Under the plan, ACCIONA will ensure that 90% of its investments are classified within the European Commission’s taxonomy of sustainable activities that contribute significantly to the decarbonization of the economy.
ACCIONA will certify the use of 100% renewable energy in all its business projects with blockchain technology, in particular with the greenchain application, developed by the company.
The company also commits to reducing emissions by up to 60%, by accelerating the electrification of business and management processes. It will also apply “nature-based solutions” where necessary (equivalent to planting and conservation of one million trees) to neutralize the company’s carbon footprint.
To increase the circularity of ACCIONA’s business activities, the company will double the use of recycled products and halve the waste destined for landfill. The company has set a target of cutting its Water use by 50%, especially in places with severe water stress.
The SMP2025 reinforces diversity measures in the firm’s workforce worldwide and in its governing bodies, as well as implementing progressive labor inclusion policies and integrating people with disabilities, who are expected to make up 5% of the workforce in Spain by 2025.
ESG performance indicators have been part of the company’s remuneration policy since 2015. The weight of these indicators will increase to 12.5% during the SMP2025 period. In addition, department heads and specific project teams (construction, water, energy, real estate, etc.) will have specific sustainability performance targets linked to their activities.
The plan incorporates innovative ways of having a positive impact on communities, including investments supported by new sustainable finance products, and 100,000 hours of employee volunteering in local environmental and social sustainability projects. To this end, ACCIONA will develop a network of local alliances in the main countries in which it operates.
CORPORATE GOVERNANCE
Through the SMP2025, ACCIONA will establish a forward-looking and demanding management model that is and consistent with the principles of good corporate governance.
ACCIONA believes that to radically transform its business model and continue making progress as an agent for decarbonization, the company’s sustainability policies and targets must be implemented, measured and reported with the same discipline and thoroughness as its financial performance.
As a result, the financial and sustainability departments are being integrated into a new Economic, Financial and Sustainability Affairs Department, headed by José Ángel Tejero as Chief Financial & Sustainability Officer (CFSO).
This is undoubtedly a pioneering move in the corporate world that reflects the importance ACCIONA gives to the excellent execution of its sustainability policies.
In addition, the company is considering transforming the current Audit Committee of ACCIONA’s Board of Directors into a new Audit and Sustainability Committee, reflecting its new policies and organizational structure.
EXCELLENCE CREDENTIALS
ACCIONA, a carbon neutral company since 2016, was selected in 2020 by Corporate Knights, for the fourth consecutive year, as one of the hundred most sustainable companies in the world, out of 8,080 firms evaluated with turnover of over US$1 billion, for its performance in economic and ESG indicators.
ACCIONA also reaffirmed its position as the world’s “greenest” electricity generation company for the sixth consecutive year, according to the “New Energy Top 100 Green Utilities” ranking published annually by Energy Intelligence.
It also closed 2020 as the leading electricity company in terms of sustainability, according to the Sustainability Yearbook 2021, carried out by S&P Global. ACCIONA, with a rating of 90 points out of 100, is the leading group in the ranking’s electricity sector.
In 2020, ACCIONA carried out for the third consecutive year the classification of its activities according to the criteria established by the European Union’s sustainable finance taxonomy. The company also published and verified its degree of alignment with the demanding parameters of contribution to a low-carbon economy set by the taxonomy; 85% of its CAPEX and 84% of its EBITDA meet the requirements established in relation to climate change mitigation.
