Chapter Zero Spain, an initiative to promote the principles of climate governance in business, is born

To train non-executive directors in sustainability and climate governance and to generate forums for exchange of experiences and good governance, leading to specific action plans to promote the ecological transition and the fulfillment of decarbonization goals. With these two objectives core topic, Chapter Zero Spain has been created, a forum within the framework of the Climate Governance Initiative, a non-profit organization developed at partnership with the World Economic Forum and based at the Center for Climate Engagement, Hughes Hall, University of Cambridge. Today, network has chapters in more than 70 countries around the world and more than 100,000 board members.

The University of Navarra is the host institution for Chapter Zero in Spain and the administrator of the Climate Governance Initiative's "global curriculum" in the country.

The campus of the University in Madrid has hosted the constitution of Chapter Zero Spain (CZS). The event was attended by, among others, Beatriz Lara, independent director of Unicredit and president of Chapter Zero Spain (CZS); Carla Díaz Alvarez de Toledo, director general of the Treasury and Financial Policy of the Ministry of Economics; and Beatriz Corredor, president of Redeia. The president of Chapter Zero, Julie Baddeley, participated online and addressed a few words to the attendees. 

Beatriz Lara explained what Chapter Zero Spain is and what its objectives are, based on the eight principles of climate governance. "The management bodies of companies must incorporate climate change into their corporate strategy. They must be equipped with the best tools to identify the risks and opportunities it presents and have the ideal training to make decisions that favor a sustainable economic model that respects the environment and favors human progress," she said.

The event then hosted the roundtable "The Climate under the surveillance and due diligence of committee" moderated by Ana Buitrago, independent advisor in several companies and member of committee of CZS; which has counted with the assessments of the patrons of CZS, Maria-Helena Antolín, vice-president of CEOE and Luis Carvajal, partner manager in Spain of Egon Zehnder.

Among their main conclusions, they pointed out that, in recent years, much progress has been made at Degree in raising awareness of the importance of incorporating climate change into business strategy and, therefore, at diary of committee. "More and more companies are becoming more active in this regard, although there is room for improvement". They have also highlighted the need to deepen the training and knowledge of the board members in environmental matters and in particular on climate change, to facilitate the incorporation of this issue in the diary of committee. María Helena Antolín and Luis Carvajal stressed the importance of "not backing down in the fight against climate change, given the level of risk it entails and its impact". Both urged partnership and the coordinated effort of all public and private sectors to address responsible and effective solutions.

Along with Beatriz Lara and Ana Buitrago, the following are members of Chapter Zero Spain's committee : Purificación Pujol, independent director; Senén Ferreiro, partner founder and director at Valora; Javier Ortega, director of the development service of the University of Navarra; Alberto Horcajo, director of Lyntia Networks, Ellalink and group Lantero; Baldomero Navalón, director at CBNK Banco Caminos; and the Vice President of research and Sustainability of the University of Navarra, Paloma Grau.

The Vice President of the academic center focused her speech at workshop on the role that universities should play in the face of the challenges posed by climate change. "The university, with different fields of study and research, from Economics, science, law or engineering, allows an interdisciplinary approach to the challenges posed by the climate emergency, in the search for innovative solutions," she said. "There is no doubt that we are facing a great challenge as a society, and the University of Navarra, faithful to its vocation and raison d'être for 75 years, demonstrates with the adhesion to this initiative, its commitment to contribute and be present wherever society needs us, with our research, training and transfer to companies and society."

Compliance with the Paris Agreements and the European Green Pact

Chapter Zero Spain aims to contribute and promote action plans for the fulfillment of the emission reduction targets agreed at the 21st lecture of the Parties of the United Nations for climate change in Paris in 2015 by 198 member states of the United Nations and for the implementation of the objectives contained in the European Green Pact of December 12, 2019.

"With the constitution of Chapter Zero Spain and its integration into the network Climate Governance (GCI), one of the most dynamic economies in decarbonization and energy transition, both at the institutional and business level, is added. The ambition, experience and good practices of Spanish companies will strengthen the network GCI to achieve the principles and will help more Spanish and global companies to advance in their climate commitments," said Beatriz Lara.

Among other data, Chapter Zero Spain points out that the Spanish Government's National Integrated Energy and Climate Plan 2021-2030 (PNIEC) aims to reduce greenhouse gas (GHG) emissions by 23% by 2030, compared to 1990. "This reduction goal implies eliminating one out of every three tons of greenhouse gases currently emitted. This is an effort consistent with an increase in ambition at European level by 2030, as well as with the Paris agreement ", they assure. In economic terms, the IBEX 35 (the 35 Spanish companies with the largest market capitalization), with 20% of these companies having approved long-term decarbonization targets, is the leading stock market index in terms of issue of companies. And 95% of the Spanish banking sector has adhered to the "Spanish Banking Pact on Climate Action" signed in December 2019 within the scope of COP25, and to the United Nations Banking Principles manager . 

"In final, Chapter Zero Spain wants to be a point of meeting and exchange of experiences, information on sustainability, new ways of business, search for innovative and practical solutions that can contribute to progress in achieving business goals in environmental subject ", concluded the president of Chapter Zero Spain.