Entrecanales assures that the funds and technology to end fossil fuels "are available and accessible"

Entrecanales assures that the funds and technology to end fossil fuels "are available and accessible"

"We are witnessing a great boom in renewable energies and The replacement of fossil fuels in the electrical system is within our reach. The necessary capital is available and accessibleand the demand and opportunity in renewable energies is greater than ever", as stated today José Manuel Entrecanales, president and CEO of Accionaduring his participation in a Sustainable Futures Forum on the CNBC television network in Dubai, within the framework of the COP28. "Civil society should not wait for regulation, but lead the transition," he added.

Entrecanales considers that "although there are obstacles, such as poor network infrastructure or obtaining the necessary permits, these are tangible, physical problems, and can be overcome relatively easily. The real global challenge lies in what comes next, such as how we achieve competitive green hydrogen production", has added.

In the round table, titled "Investing in the future: how to bridge the financial gap", the president of Acciona added that "the good news is that we have seen, through Inflation Reduction Act (IRA) [de Estados Unidos]how good policy and well-used capital can achieve what no one thought was possible in such a short period of time.

"COP28 will go a long way to building global awareness and conviction, and whatever specific agreements are reached, bringing together thousands of businesses here in Dubai will help propel us on the path we need to take," has added.

José Manuel Entrecanales participated in the Dubai panel together with Hubert Keller, Managing Partner of Lombard Odier; Henry Fernández, president and CEO of MSCI; and Dr. Jennifer Holmgren, CEO of LanzaTech.