The Secretary of State for Climate Change, Teresa Ribera, stresses that the fight against climate change will require an unprecedented technological transformation of our production and consumption patterns.

The Secretary of State pointed out that sectors such as energy and water will be key in this transformation and recalled that the International Energy Agency has assessed that investment needs are equivalent to 40% of global infrastructure investment or 1.4% of world GDP.

Within the energy sector, renewable energies will play a fundamental role, as well as in the transport sector, second-generation biofuels and electric vehicles will be the main technologies, Teresa Ribera distinguished.

In relation to investment needs, Teresa Ribera explained that in the short and medium term we have sufficient technologies that allow us to be on an adequate emissions trajectory in these years. However, for the Secretary of State, it will be necessary to promote new technologies in the long term through actions decided today in R+D+i that will accelerate their entry from 2020.

In this regard, Teresa Ribera stressed that the change in the growth model towards a lower carbon model will generate great opportunities for business, investment and innovation. For this reason, he emphasised that Spain must take advantage of the privileged position in which it is currently in sectors such as renewables, in view of the imminent start of a market with great possibilities.

Finally, the Secretary of State concluded that governments have a fundamental role to play in establishing the appropriate market rules and in acting as catalysts for private investment from different public resources. Companies must take advantage of the opportunities offered by this new future by continuously improving their competitiveness and productivity and acting responsibly. He also added that an integrated approach will be necessary with greater support for R+D+i, the definition of technological “roadmaps”, greater international cooperation and greater collaboration between the public and private sectors through partnerships.