Our Chairman & CEO Jose Manuel Entrecanales took part in the Business Day events organized by the World Business Council for Sustainable Development (WBCSD) where he highlighted the following key factors for an effective agreement on Climate Change:
- Awareness. We have to make society at large and the business community aware of the long-term benefits of sustainability. How? Through education and information campaigns and the acknowledgement of best practices, all of which will help to foster a business environment that helps generate business opportunities, keeps down the associated risks of sustainable strategies and engages in a two-way dialogue that heightens awareness among employees, clients and shareholders.
- Incentives for sustainability. To be exact, incentives for making sustainability projects economically worthwhile. That means, for example, preferential trade tariffs, efforts to promote R&D and Innovation and so on and so forth. But, in particular, the situation calls for a carbon market capable of adequately reflecting the social and environmental costs of carbon emissions. Approaching the problem from the point of view profitability will be the best catalyst for the investment needed for turning the commitment to sustainability into solid reality and hard facts.
- Dissuasive Measures. An institutional and legislative framework with measures aimed at dissuading both the State and the business community from falling short of their commitments.
- A long-term scenario backed by international financing and consensus and supervised by independent organizations capable of transmitting confidence to private capital.