“The challenge of decarbonization in Spain is greater than in the rest of Europe.”

Executive Iñigo Bertrand explains in a talk organized by IESE, titled “Confronting Climate Change: Decarbonization Strategies for Different Types of Companies.” Climate guidelines have accelerated in recent times as a response to address climate change. In this regard, Europe has set the goal of being a pioneer in achieving a Net Zero environment by 2050. According to Iñigo Bertrand, CEO of EDF Fenice, “in the case of Spain, we have set very ambitious goals both in the medium and long term, so the challenge we face is even greater than in the most developed countries in Europe.” This roadmap designed by Europe lays the foundations for achieving a decarbonized economy, which in Spain entails a 23% reduction in emissions, according to the National Integrated Energy and Climate Plan (PNIEC) 2021-2030. This objective, following the latest European guidelines (Fit for 55%), is pending an increase to accelerate the transition towards cleaner energies. Given these data, Spain is at a complex starting point to embark on the journey towards decarbonization. This is due to the fact that we emit approximately the same amount of CO2 tons, a total of 300 million, as in 1990, the year Europe takes as a reference to set decarbonization targets. In this regard, as the executive pointed out, “both the business fabric and Spanish society have many obstacles to overcome.” And despite all the machinery being set in motion from Europe, both with the Green Deal and, more recently, with the Next Generation funds that focus on the energy transition, “it is necessary that 4 out of every 5 euros come from private capital to achieve the decarbonization goals,” Bertrand stated. To undertake this journey towards decarbonization, companies must determine their objectives and define their strategy by analyzing multiple variables such as the regulatory framework, technological evolution, and the market context, with energy prices that have experienced unprecedented volatility. EDF Fenice is betting on a “Net Zero” strategy for its clients, combining environmental sustainability with economic sustainability. “We have an unavoidable destination, which is the complete decarbonization of our economy, and four possible paths: energy efficiency, renewable energies, circular economy, and offsetting. However, the only response we find at EDF Fenice to successfully address the decarbonization process is the optimal combination of the four solutions,” explains Bertrand. A whole series of strategies and alternatives to address decarbonization and meet the objectives set at both European and national levels, which were discussed in the IESE Alumni session “Confronting Climate Change: Decarbonization Strategies for Different Types of Companies.” A talk that featured the participation of Juan Luis Lopez Cardenete, Professor of Strategy at the prestigious business school, and Iñigo Bertrand, CEO of EDF Fenice.