SUSTAINABILITY The success of the Cop26 (this year’s Climate Change conference) will depend on cash flows and their sustainable commitment,” notes Lara Lázaro, principal investigator of the Real Instituto Elcano. This is exactly where the SMP places the company. Exchange-traded funds (ETF) aimed at the sustainable and renewable explod-ed onto the market last year with high returns. “Investors are using these products, among others, to invest in ACCIONA. It’s a powerful movement, you feel it,” Fernández-Cuesta points out. Meanwhile, information catalyzes the investment attraction: every six months, the company presents an ESG report (environmental, social and cor-porate governance factors) as if they were financial results. The European taxonomy on sustainable activities has already reached 84% of EBIDTA, supporting the credibility of its commit-ments. For example, reducing the diversity gap and emissions per million in sales by half, doubling renewable energy production by 2030, reducing emissions by 50%, measuring experience for 100% of employees, biodiversity plans linked to more than 75 million Euros in projects, reducing internal water consumption by 50%… “Being per-