Big business urges Spain to pass climate change law and ‘transition to green energy’

MORE than two dozen multinational and medium-sized companies have signed a declaration calling for Spain to transition to green energy. 

Eleven out of the 30 companies are listed on Spain’s Ibex35 stock exchange – Abertis, Acciona, Bankia, BBVA, Endesa, Ferrovial, Iberdrola, Mapfre, Red Eléctrica de España, Siemens Gamesa and Telefónica.

IKEA, hotel chain NH and Eulen have also signed the manifesto, which urges the country’s ‘public powers’ to reach an agreement on the ‘approval of a climate change law and a stable, ambitious and efficient transition to green energy.’

It comes three years after Mariano Rajoy vowed to deliver a new climate change law in the 2015 Paris Climate Change Agreement.

The Spanish congress should be debating the law, but it has been delayed by a months-long commission which has failed to reach a consensus.

The climate change law has been met with obstacles, with energy minister Alvaro Nadal arguing Spain should wait until the EU develops its legislative package on the fight against climate change before making its own.

Environment minister Isabel García Tejerina has said a draft of the law would be ready soon.

Electricity and transport sectors contribute 80% of all greenhouse gases produced by Spain, meaning they would be most affected by climate change laws.

The manifesto reads: “Most surrounding countries are already evolving toward a low-carbon economy, triggering a global revolution that is going to create enormous opportunities,” the manifesto argues.

“Spain is well positioned to take advantage of these but effective policies are needed now.”