Civil society must not wait for regulation, but lead the transition

“We are seeing a surge in renewable
energy and the substitution of fossil fuels in the electric system is within our grasp. The capital
and technology required are there and available, and the demand and the opportunity in
renewable energy is greater than ever.” said José Manuel Entrecanales, chairman and CEO of
ACCIONA, during his involvement today in a CNBC Sustainable Futures Forum in Dubai as part of
COP28. “Civil society must not wait for regulation, but lead the transition”, he added.

From left to right, Steve Sedgwick, CNBC presenter and moderador; Hubert Keller, senior mananing partner, Lombard Odier; Jennifer Holmgren, CEO, LanzaTech;  Henry Fernández, CEO, MSCI; y José Manuel Entrecanales, chairman y CEO, ACCIONA

“While there are obstacles, like grid infrastructure and achieving the necessary permits, these are
tangible, physical problems and can be overcome relatively easily. The real global challenge lies in
what comes next, like how do we achieve competitive green hydrogen production,” said Mr.
Entrecanales
At the panel, entitled Investing in the Future: How do we bridge the finance gap, ACCIONA’s
Chairman went on to say that “the good news is that we have seen, through the [US] Inflation
Reduction Act (IRA), how good policy and well-deployed capital can achieve what nobody thought
was possible in such a short space of time.
“COP28 will do much to further global awareness and conviction, and regardless of the specific
agreements reached, bringing together the thousands of companies here in Dubai will help propel
us on the journey we need to take,” he added.
Mr. Entrecanales spoke on the panel in Dubai alongside Hubert Keller, Senior Managing Partner at
Lombard Odier, Henry Fernandez, Chairman and CEO, MSCI, and Dr. Jennifer Holmgren, CEO,
LanzaTech.

ACCIONA is a global company and a leader in the provision of regenerative solutions for a decarbonized
economy. Its business offer includes renewable energy, water treatment and management, eco-efficient
transportation and mobility systems, resilient infrastructures, etc. The company has been carbon neutral
since 2016. ACCIONA recorded sales of €11.2 billion