• The COP 22 in Marrakech, which Forética is currently attending, the implications of the Paris Agreement and the possibilities of a future Climate Change Law are some of the other topics that have been the focus of the last meeting of the Cluster this year.
• The Climate Change Cluster, made up of 36 large Spanish companies, strengthens its role as a business meeting point for leadership, knowledge, exchange and dialogue on this issue.

Madrid, November 15, 2016- Forética today brought together the 36 large companies that make up the Climate Change Cluster, which the organization coordinates in Spain as the only representative in our country of the World Business Council for Sustainable Development (WBCSD). The Climate Change Cluster is the business meeting point for leadership, knowledge, exchange and dialogue in this area.

During the session, the document was presented under the title. "Carbon Pricing as a business management tool", on the concept, application and implications of carbon pricing, prepared by Forética within the framework of the cluster, was presented during the session.on the concept, application and implications of carbon pricing, prepared by Forética within the framework of the Cluster. It was explained that the objective of carbon pricing is to make tangible and monetize the costs derived from the consequences of_CO2 emissions at an economic, social and environmental level, i.e. to assign a price to_CO2 emissions.

"The establishment of an internal carbon price is a tool that companies can use on a voluntary basis to manage the risks and opportunities associated with their carbon footprint and thus internalize the costs derived from emissions, even though their operations are not currently subject to external carbon regulation," said Ana Herrero, Director of Projects and Services at Forética and coordinator of the Cluster.

The study highlights that the number of companies using a carbon pricing mechanism is increasing substantially year by year. Forética proposes five steps that can help companies establish carbon pricing. These five steps involve understanding the environmental impact of the business, developing a carbon pricing strategy, establishing an action plan, putting the carbon pricing mechanism into practice, and evaluating and communicating its effectiveness and impacts over time.

The Cluster meeting held today also addressed the Paris Agreement which, after its entry into force on November 4, is being analyzed and finalized these days during the COP 22 in Marrakech. The Deputy Director General for the Coordination of Actions against Climate Change of the Spanish Office for Climate Change, Eduardo González, explained the implications and opportunities of the agreement for companies.

In the words of the CEO of Forética, "since the Paris Agreement, leading companies - as a key player in achieving the goals - have a great opportunity to ensure their future, and contribute to that of the planet, if they integrate climate change and sustainability into their strategy and daily actions".

This was followed by a block on the possible lines to be followed in a future Climate Change Law. The companies of the Cluster have been able to hear the vision on this issue from the deputy of the Popular Party, María Teresa de Lara, and the deputy of Equo (Grupo Parlamentario Unidos Podemos), Juantxo López de Uralde, both spokespersons of the Climate Change Commission of the Congress. Javier de Cendra, Dean of IE Law School, provided the international perspective by analyzing the current laws in different countries.

Download the document: "Carbon Pricing as a business management tool".