TCFD ACCIONA (Sólo en inglés)

REGENERATING CLIMATE

RISKS AND OPPORTUNITIES

REPORT ACCORDING TO THE TASK

FORCE ON CLIMATE-RELATED

FINANCIAL DISCLOSURES (TCFD)

RECOMMENDATIONS

REGENERATING CLIMATE

INDEX

0

1

2

3

4

I

II

OVERVIEW

OUR

COMPANY

STRATEGY

RISKS AND OPPORTUNITIES

KEY CLIMATE

METRIC AND INDICATORS

ANNEX I

ANNEX II

Pag 3

Pag 6

Pag 13

Pag 22

Pag 35

Pag 46

Pag 48

OVERVIEW

TOWARDS A POSITIVE CONTRIBUTION | INVEST TO REGENERATE THE PLANET

ACCIONA activity by solutions

2 % Financial 2% Social

3 % Real Estate

8 % Cities

44 %

			REGENERATING
			CLIMATE
			Index
		3 % Social	0
5 % Financial	2 % Real Estate	Overview
5 % Transport
7 % Water	1,124 M€	78 %

The company's business model is based on the performance of sustainable activities that are significantly aligned with the requirements of the European taxonomy.

ACCIONA revitalises urban space in an efficient way and increases green spaces

16 % Water 6,472 M€	Energy
SALES
25 % Transport

EBITDA	Energy	1
		Our
		company

Professional,scientific and	Agriculture
technical activities	and forestry

ACCIONA's activity aligned with European taxonomy of sustainable activities

2

Strategy

Information and	Environmental protection
communication	and restoration activities

3.8 % Non-aligned activity because of updated methodology in 2020

0.4 % Non-aligned activity because of updated methodology in 2020

3

Construction and real	Manufacturing
estate activities
	The company holds a
	minority stake in wind turbine

49.5 % Activity not in line with the taxonomy

46.7 % Activity in line with the taxonomy

46.7 %

15.7 % Activity not in line with the taxonomy

84 % Activity in line with the taxonomy

84 %

Risks and opportunities

4

Transport	Energy	manufacturer Nordex.

Water supply, sewerage,

waste management

and remediation

7.4 % Extraordinary activity not aligned because of acquisition of proyects in Australia

7.9 % Activity not in line with the taxonomy

3.7 % Extraordinary activity aligned because of acquisition of projects in Australia

0.1 % Non-aligned activity because of updated methodology in 2020

80.9 % Activity in line with the taxonomy

Key climate metric and indicators

I

Annex I

ACCIONA certifies all of its new housing developments with the BREEAM sustainable housing label

The group builds and operates	ACCIONA designs	ACCIONA Energy produces
passenger and freight	infrastructures with the	energy exclusively from
transport infrastructure,	capacity to address the main	renewable sources, with
particularly in low-carbon	challenges related to water	activities that span the entire

II

environments, and manages	and ensure its availability and	value chain. Named the
electric shared mobility	sustainable management.	world's greenest electricity
services	It also addresses waste	company
	management and circular
	economy

Governance		Remuneration
ACCIONA has had a Sustainability Committee on the		The ACCIONA Bonus includes a target to reduce
Board of Directors since 2009, as the body responsible		scope 1 and 2 emissions by 60% from 2017 to 2030.
for leading climate action and sustainability activities.

Annex II

3

REGENERATING CLIMATE

Climate risks

Climate opportunity

Index

1.	Lower hydroelectric
	generation due to
	lower rainfall
2.	Lower wind power
	generation due to
	higher temperatures

1	2
3 4

1 2 16254

0

Overview

3.	Efficiency requirements
	for machinery
4.	Heat stress for workers
5.	Reduction of emissions
	in desalination

4		4	5
	4	4

4

1	Investment in renewable business	1 2 5		3	1
2	Sustainable infrastructure financing
3	Desalination in water-stressed countries				Our
4	Electric vehicle manufacturing			2
		company
5	Energy efficiency services			1	2
6	Development of nature based solutions		1

Scenario analysis examples

Risk 1: less hydroelectric generation due to lower rainfall

2

Strategy

Opportunity 1: Investment in renewable energy

16.6

		Transitional scenarios	Physical scenarios
Economic result	Alignment in 2020 (%)
		1.5°C	Current policies	RCP 4.5	RCP 8.5
Energy	Wind power
Energy	Photovoltaic
Energy	Hydropower
Energy	Biomass
Energy	Hydrogen
Energy	O&M
Construction	Works
Construction	Construction machinery
Construction	Environmental services
Construction	Urban services
Water	Wastewater treament plant
Water	Drinking water treament plant
Water	Desalation plant
Water	Other water services
Concessions	Highways
Bestinver	Asset management
Real estate	Real estate development
Other	Energy services
Other	Mobility
Substantial opportunity	Low opportunity	No material impact	Low risk	Substantial risk

Historical data			724
Year 2030, climate				748
scenario RCP 4.5
Year 2030, climate		676
scenario RCP 8.5

Risk 2: lower wind power generation due to higher temperatures

				Coal
				Wind	3
		11.7	5.9	Oil
			Solar PV	Risks and
	9.5
	3.1		opportunities
7.5	1.8		Natural Gas
1.8	3.1
	1.2	Other RES
1.3
1.5	1.7	2.0	Nuclear
1.8	2.0	2.0	2.1	Other	4
2.1	1.9
1.6	1.1	Hydro
2019	2025	2030	2040		Key climate
					metric and
					indicators

+7.0	ºC																									I
+6.0	ºC
+5.0	ºC																									Annex I
+4.0	ºC
+3.0	ºC
+2.0	ºC																								RCP 4.5	II
+1.0	ºC																								RCP 8.5
0.0	ºC																								Historical climate	Annex II
-1.0 ºC																								models
-2.0 ºC
	1850	1860	1870	1890	1900	1910	1920	1930	1940	1950	1960	1970	1980	1990	2000	2010	2020	2030	2040	2050	2060	2070	2080	2090	2100

4

Compensation 100%

SBT 2ºC set

SBT 1.5ºC set

Net zero

scope 1 y 2

2040 set

2015

2020

SMP 2015-2020

2017 INDICATORS

SMP 2020 TARGETS

DECARBONISATION

2020 INDICATORS

213, tCO2e scope 1+2

• Reducing and offsetting

FUND LAUNCHED

58% taxonomy-aligned CAPEX

29.4 tCO2e/sales

our emissions

133,146 tCO2e scope 1+2

2,552,757 tCO2e scope 3

• Climate risk map

20.6 tCO2e/sales

30% renewable energy consumption

• Adaptation and climate

2,011,346 tCO2e scope 3

14.4 million tCO2e avoided

risk management

75% renewable consumption

249 € in green finance

• Climate change training

13.2 million tCO2e avoided

836 M€ in green finance

				REGENERATING
				CLIMATE
			2025				Index
SMP 2020-2025		0
				Overview
SMP 2025 TARGETS	20 GW OF
• 90% investment in taxonomic	RENEWABLE
	activities	GENERATION
		1
•	Use of renewable energy in 100%
	of projects where available			Our
• Net zero emissions pathway
		company
•	10% reduction of Scope 1 through
	electrification
•	Establishment of reduction targets
	at project level			2
• Zero carbon alternatives in
	procurement			Strategy

Emissions to be reduced by decarbonisation fund (1st edition)

0.9 % Real estate	0.1 % Wineries
6.3 % Cross-cutting
28.1 % Energy	27
	mtCO2e
		64.7 % Infrastructures

Pathway net zero in

the SMP 2025 framework

250.000
200.000
150.000													2030 target:
													60% reduction
100.000																				2040 target:
																			90% reduction
50.000
0
2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	2036	2037	2038	2039	2040

Scope 1 (tCO2e)	Scope 2 (tCO2e)		Pathway ACCIONA

Renewable installed

3

power target

Risks and

opportunities

Target capacity to be installedper year.

Under construction or with

3.5

construction assured in 2021-22.

3.0

High-visibility portfolio.

2.6

4

Portfolio at an advanced

stage of development.

Key climate

metric and

indicators

	0.7	2.2	2.4	2.4
	1.7	1.5			I
	1.6	2.4	2.4
0.6	0.8			Annex I
2021	2022	2023	2024	2025

II

Annex II

Other FY2020 reports in	• Sustainability Report (verified alignment with TCFD)
the field of climate change:	• Report on projects with sustainable financing
	• EU Low Carbon Taxonomy: ACCIONA's Case Study

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