Almost 200 countries participating in the COP22 managed to approve an agenda that will be used to implement the objectives established in the Paris Agreement, which will come into force on the 4th of November. According to this new programme, the rules that shall govern the Agreement will expire by 2018, two years before the implementation of the programme. Progress in drafting said rules has been one of the crucial actions of the conference.
Other noteworthy results of the Summit include the statement and confirmation of all participants about the fact that climate change is an irreversible process, and the many initiatives launched to face this challenge, which affects the whole planet, as well as the progress made by governments in different areas, such as financing, adaptation, creation of capacity, technology and gender-responsive matters. Patricia Espinosa, Executive Secretary of the United Nations Framework Convention on Climate Change, stated: "The COP22 has achieved its goal in becoming an action COP that has accelerated the progress in the implementation of the Paris Agreement by means of financing, new initiatives, ambition and solidarity between nations and continents".
Iberdrola's support to the Marrakech Summit
Iberdrola is deeply concerned about the Sustainable Development Goals (SDG) of the Global Compact. In fact, it has incorporated them into its business strategy and its Sustainable Management Policy. During his intervention in the High Level meeting on Climate Change, as part of the COP22, our Chairman, Ignacio Galán, mentioned that a higher degree of commitment of all actors participating in the fight against climate change is required, and confirmed the company's permanent commitment to investing in renewable energies.
In addition, Iberdrola expects to achieve a 30% reduction in the intensity of its greenhouse gas emissions by 2020, as compared with the 2007 levels and expects to achieve a 50% reduction by 2030. In the words of our Chairman: “Iberdrola was the witness of the creation of a new global alliance in Paris. We hope the Marrakesh Summit represents the first step towards the success of our common effort towards decarbonisation. Iberdrola will take on this challenge”.
To support the progress of this new Climate Summit, the Spanish Network of the United Nations Global Compact and Iberdrola organised in 2016 the Moving for climate NOW External link, opens in new window., initiative, with a 1,100 km long cycling route between Seville and Marrakesh, with the participation of 50 international bodies, the civil society, universities and companies, all willing to fight together against climate change. The route set off on the 7th of November and ended on the 16th of November with the signing of a manifest that includes the first steps to achieve effective mobilisation against climate change.
The expedition set off on the 7th of November and returned on the 16th of the same month, presenting the manifesto that included the most urgent steps required to achieve effective mobilisation for climate. But this was not all, while Iberdrola was there, it gave the bicycles used for the initiative to the Entraide Nationale, a Moroccan institution that focuses on social development and helping people in need; a gift in appreciation of their effort and as proof of the Company's commitment to create a more sustainable future.
Committed to the COP22