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Rafael Mateo: "Nowadays, it is impossible to manage a company without thinking about climate change".

Acciona's CEO will participate in a discussion on Management in Uncertainty together with leading experts in this field area on February 28th at the UNAV Alumni Center in Madrid.

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Rafael Mateo PHOTO: Courtesy
20/02/19 17:21 Communication Service

The next academic year 19-20 Tecnun-University of Navarra arrives in Madrid with the Master in Industrial Engineering at the University of Navarra's Alumni headquarters. On this occasion, the School of Engineering of the University of Navarra is organizing meetings of great interest with relevant personalities in different areas. The next meeting will take place on February 28 at 7.30 p.m. at the new postgraduate headquarters in Madrid, and will consist of a table-discussion on "MANAGEMENT IN UNCERTAINTY". In this meeting we will have the presence of Iván Martén, Ignacio Martín and Rafael Mateo, great experts in this area. Rafael Mateo is CEO of Acciona and in the following interview he talks about some of the topics that will be discussed at the table-discussion.

Is it difficult to manage in uncertainty? 

The energy transition is not uncertain: on the contrary, it is fast becoming a reality on a global scale, and the most positive thing about it is that the solution to curb climate change already exists without technological and financial risks. 

Renewables are fully proven and the huge cost reductions they have experienced in recent years make the energy transition affordable and sustainable, as power generation from renewable sources is already fully competitive with nuclear or fossil-based energy in most regions. 

In addition to being a huge opportunity for the sector and for the regions, the energy transition also means a reduction in consumer uncertainty about the price of electricity, since, unlike gas or oil, whose costs are unpredictable and linked to agents outside the electricity market, the cost of renewable electricity is totally predictable and can be fixed. 

There is only one aspect in which the energy transition is subject to uncertainty, which is certainly more complex to manage: the different regulations that affect it. A good regulator must, precisely, clear up this single uncertainty by design and applying clear, stable, long-term directives deadline, which allow fair competition between the different sources, internalizing all their costs, and which enable the consumer to choose the most economical and sustainable option, if he so prefers. 

How can the challenge of climate change affect business management? 

Climate change, and the energy transition needed to halt it, are increasingly important in business management. In the first place, and in terms of the energy consumption of the different corporations themselves, decarbonizing their consumption by purchasing renewable electricity in the long term deadline can represent an important competitive advantage, since: 

1. By electrifying consumption, they can easily increase efficiency (consuming less energy).
2. They have access to electricity at more competitive prices.
3. They acquire absolute visibility over these prices in the medium and long term deadline -they can even fix them-.
4. They gain total control over the supply and origin of their electricity, understanding (and being able to transfer) the impacts they generate on their environment.

On a broader scale than energy consumption itself, climate change poses a number of risks and opportunities in many industry sectors that proper management must be able to mitigate (in the case of risks) and exploit (in the case of opportunities). 

Increasingly, financiers, investors, insurers, etc. are demanding that companies adequately mitigate these risks, the materialisation of which seems to be getting closer and closer. 

We are also seeing how the same actors are increasingly rewarding those business models that are able to adapt to the transition and take advantage of the opportunities it offers. This undoubtedly affects the management of companies, which need to adapt (in some cases even moving to other businesses) in order to remain attractive and competitive. 

Finally, and of great importance, we also see how consumers are increasingly demanding and valuing appropriate behavior on the part of corporations in this regard. Thus, in addition to the advantages of being more competitive in terms of prices due to energy savings and having access to better financial conditions, etc., there is also the advantage of being more attractive to potential customers, as a powerful differentiating tool . 

For all these reasons, it is impossible to manage a company today without thinking about climate change and the risks and opportunities it offers. Good managers are seizing the opportunity to make their companies more competitive while leading a positive transition for all, encouraging others on Economics to do the same. 

Spain and its companies have much to gain: this is a historic opportunity. We are pioneers in renewable energy, and our teams and human capital are present all over the world, often leading the way in the energy transition. Government and companies need to align so that the next wave of clean technology is also driven by us, taking advantage of a unique growth opportunity for our Economics and our regions. 

Can we sustain our current Western lifestyle with "renewable" energy alone? 

Absolutely yes. As Kaya's identity pointed out, with the world's population continuing to grow and living standards expected to grow in the future, we must act as soon as possible by reducing energy intensity and decarbonising energy consumption to reduce the impact of climate change on our planet. 

Therefore, there is no alternative but to move towards a 100% renewable future.
Today we already have clean, reliable and competitive technology available (solar photovoltaic and wind), capable of halting climate change without affecting economic growth - quite the opposite: boosting it. 

This increasingly renewable mix will be achieved with a combination of photovoltaic and wind power with other manageable technologies such as biomass, and with the development of new flexibility elements such as storage. 

Policy makers have it in their hands to facilitate the deployment of these solutions and accelerate the necessary sustainability revolution. The transition becomes not only a mandatory process but also an opportunity in all areas: economic, social, employment and technological.

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