Acciona Sa (ACXIF) Q2 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.571 -- 00:00:03.454 Good morning, ladies and gentlemen. 00:00:03.454 -- 00:00:08.540 Welcome to ACCIONA's first Have Results presentation for the year 00:00:08.540 -- 00:00:11.000 2024. As 00:00:11.823 -- 00:00:16.969 usual, we will start with ACCIONA Energía and then we'll follow on to ACCIONA Results 00:00:16.969 -- 00:00:18.831 as a whole. 00:00:18.831 -- 00:00:24.157 On the table on my right, Rafael Mateos, CEO 00:00:24.157 -- 00:00:26.373 of ACCIONA Energía, 00:00:26.373 -- 00:00:32.284 To his right, Jose Entre Canales, Chief Financial Sustainability Officer at Acciona Energía. 00:00:32.284 -- 00:00:37.874 And to my left, Jose Ángel Tejero, Chief Financial and Sustainability Officer 00:00:37.874 -- 00:00:40.118 at Acciona 00:00:40.118 -- 00:00:42.118 SA. 00:00:43.985 -- 00:00:50.099 Global commitment to climate action is unquestionable. 00:00:50.099 -- 00:00:55.545 Despite slower than necessary, we are, however, advancing towards building 00:00:55.545 -- 00:00:57.947 a net-zero economy. 00:00:57.947 -- 00:01:02.992 Fossil fuel consumption declining, peak oil expected 00:01:02.992 -- 00:01:08.258 to happen within this decade, a consistent reduction in global 00:01:08.258 -- 00:01:13.643 emissions and renewables accounting for more than one-third of global generation 00:01:13.643 -- 00:01:17.627 by as early as next year. 00:01:17.627 -- 00:01:20.594 However, like All transformations, 00:01:20.594 -- 00:01:27.122 the energy transition is not linear and it has 00:01:27.122 -- 00:01:32.508 cycles. Some of them, like the one we have been through, involve 00:01:32.508 -- 00:01:37.613 challenges that require adjustment and adaptation that always offer 00:01:37.613 -- 00:01:41.357 opportunities for improvement and growth. 00:01:41.357 -- 00:01:46.483 Firs...