GREEN RECOVERY

Committed to the Green Recovery as a path to economic and employment recovery

#environmental sustainability #economy #corporate social responsibility

In view of the crisis generated by the COVID-19 pandemic, numerous voices are emerging from all areas of society suggesting the use this moment of recovery as an opportunity to drive the transition to a new socio-economic model that is climate-neutral, resilient, sustainable and inclusive. This is what is known as the Green Recovery, a vision to which Iberdrola group is fully committed and the horizon towards which it has been working for more than two decades.


Firmly convinced that any recovery after COVID-19 can only be green, Iberdrola is committed to accelerating its investments in renewable energies, digitalisation and electrical mobility to boost economic and employment recovery. It thus continues its advance towards energy transition and the decarbonisation and electrification of the economy, a path it began 20 years ago and which, since then, has led it to allocate more than €100 billion to this area, becoming a world leader in renewables.

Ignacio Galán, chairman of Iberdrola group

There is complete consensus that the road to economic recovery must be green, with the fight against climate change at its core. The European Green Deal and the National Energy and Climate Plans across the EU already provide a clear pathway. Iberdrola is fully prepared to help deliver these targets

The chairman of the group, Ignacio Galán, maintains that "to achieve a rapid and sustained economic reactivation it is fundamental to identify the sectors with the greatest potential to act as drivers of recovery," which must be aligned with European strategic priorities — such as energy transition and digitalisation — and set themselves up as generators of investment and employment. In this sense, Galán stresses that, "for every job created within energy sector, 12 more are generated in others such as construction, manufacturing of capital goods, engineering and installation services and machine tools."

IBERDROLA AS A DRIVER OF EMPLOYMENT

Iberdrola is ready to be one of those vectors of employment and sustainable growth. The company will invest €10 billion this year, helping to revive the economy and employment. It maintains its forecast of hiring 5,000 new professionals throughout 2020 and, in the last year, more than 1,700 young people under 30 years of age joined its workforce.

Ignacio Galán, chairman of Iberdrola group

We have the resources and energy to drive a recovery in which everyone wins: employees, suppliers, shareholders and society in general

The group has also accelerated its purchases from suppliers, which reached €3.8 billion in the first quarter of the year. Iberdrola has more than 22,000 suppliers, generating 400,000 jobs worldwide, and has agreements in place until 2023 worth more than €20 billion.

IBERDROLA SUPPORTS THE EUROPEAN GREEN DEAL

The company chairman affirms that the great European Green Deal brings "growth, employment and prosperity." "We have the resources, the technology and the knowledge to move towards a green recovery," he says, and the EU Recovery Package that the European Commission (EC) has just presented to Parliament provides "a clear and predictable framework" to implement this plan.

Ignacio Galán, chairman of Iberdrola group

We strongly support the strategy for a rapid and sustainable recovery being based on the 'European Green Deal'

The European Union in December 2019 presented its European Green Deal, which establishes a roadmap to transform the European economy based on the green transition. The EC has identified this Green Deal as a catalyst for growth and the European Parliament and most governments are following the line set by it. Now, with the EU Recovery Package, the Commission is showing its determination to allocate available resources to future sectors: clean energy, efficiency and electric mobility.

Iberdrola, which has supported the Green Deal from the beginning, believes the agreement will allow the opportunities posed by the fight against climate change to be taken advantage of and the countries' competitiveness to be improved. By placing decarbonisation and digitisation at the centre of the political strategy, investments in renewable energies — cleaner, safer and more affordable — will be fostered, lasting and quality jobs will be generated, and air pollution will be reduced, thus improving citizens' health. "We can and must exit this crisis by investing in a stronger, more united, more competitive and more sustainable Europe," Galán stresses.

 

WE STRONGLY SUPPORT THE GREEN RECOVERY

  • sub 'CEO INITIATIVE FOR EUROPE'S RECOVERY' Ignacio Galán, chairman of Iberdrola.

    We have petitioned the EU for a framework to drive the green economy

    In a letter addressed to the European Commission, the European Council and the European Parliament [PDF], CEOs of major energy, industrial and vehicle manufacturing sector multinationals — among them Iberdrola chairman Ignacio Galán — have expressed their support for the Commission's Next Generation EU plan, which aims to relaunch the economy after the COVID-19 crisis. In their letter, the CEOs urge that this agreement be backed by a “smart” industrial policy with fiscal reforms and a CO2 price fixing system, as well as conditions conducive to an industrial transformation.

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  • sub VIRTUAL MEETINGS OF THE ERT Ignacio Galán, chairman of Iberdrola.

    Ignacio Galán was the only Spaniard at the virtual meetings of the European Round Table for Industry

    The chairman of Iberdrola group was the only Spaniard at two virtual meetings of the European Round Table for Industry (ERT), a forum whose members include CEOs and chairs from around 55 of Europe's largest companies. During the morning meetings — which were attended by Executive Vice-President of the European Commission, Frans Timmermans, and European Commissioner for Economy, Paolo Gentiloni, respectively —, attendees discussed the importance role to be played by European business community when rebuilding the European economy after the crisis caused by the COVID-19 pandemic, underlining the need for everyone to work for a green recovery.

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  • sub 'PROJECT ZERO: TOWARDS TOTAL DECARBONISATION' Proyecto Zero.

    A debate on how Spanish companies are addressing the green recovery

    Iberdrola and El País have launched Proyecto Zero, a cycle of five events where experts, entrepreneurs, companies and opinion leaders will talk about how to progress toward a low carbon economy. The first meeting in this programme is entitled Spanish Entrepreneurs and the Challenge of a Green Recovery and it will be broadcast live on 24 June through the digital edition of El País. The participants will discuss the opportunities for growth, new business, innovation and leadership for Spanish companies on the road toward the economic recovery and sustainable job creation. Carlos Sallé, director of Energy Policies and Climate Change at Iberdrola, and Gonzalo Sáenz de Miera, the company's Climate Change director will join other speakers.

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  • sub 'UNLOCKING NET ZERO'

    ScottishPower launches a ten-point plan to create jobs, stimulate investment and jump start the Green Recovery

    Iberdrola's British subsidiary has launched Unlocking Net Zero, a ten-step practical plan to move toward the green recovery. The document urges the British Government to commit to a set of regulatory priorities and changes to encourage private investment and create jobs at a minimal cost to the public coffers. The proposed reforms involve installing charging points to accelerate the transition towards electric mobility by 2030, stepping up the development of renewable projects and supporting more than 100,000 new jobs and work training opportunities for young people.

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  • sub INVESTMENTS IN RENEWABLES IN SPAIN Cruz Carrutero.

    We accelerate our investments in renewables in Spain to contribute to green transformation

    Iberdrola is stepping up its strategy for the consolidation of an energy model for the future with a boost in its renewables investments in Spain, specifically in the Castilla y León region. The company is to develop more than 1,800 MW in the community over the coming years in renewable projects (wind and photovoltaic) for which it will allocate investments in excess of €1.3bn. This volume of resources will galvanise the industrial fabric and create 18,000 jobs, according to estimates by the National Integrated Energy and Climate Plan (PNIEC).

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  • sub OVER 2,000 DIRECT JOBS Ignacio Galán, chairman of Iberdrola.

    Iberdrola awards Navantia-Windar record offshore wind power contract, worth €350m

    The group, through its subsidiary Ailes Marines, has awarded the Navantia-Windar UTE (temporary business consortium) the construction of 62 jackets — the structures that support offshore wind turbines — and the necessary piling for the Saint-Brieuc offshore wind farm, which the energy company is developing off the coast of Brittany. The contract will help create 2,000 direct Jobs in Galicia, Asturias (Spain) and France, endorsing the path to green recovery and sustainable growth marked out by the European Union.

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  • sub 20th ANNIVERSARY OF THE UN GLOBAL COMPACT 20th anniversary of the UN global compact.

    The UN Global Compact Leaders Summit is calling for public-private collaboration

    More than 20,000 heads of state, CEOs and United Nations officials will attend the virtual Leaders Summit to commemorate the 20th anniversary of the United Nations Global Compact. With its slogan Recover Better, Recover Stronger, Recover Together, the event invited political leaders, business and civil society to reflect on the importance of collaboration and public-private alliances for achieving compliance with the Sustainable Development Goals.

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  • sub INVESTMENTS IN CLEAN ENERGIES

    We propose investing 100 bn euros in clean energies in the next five years

    Within the framework of the economic recovery plans after the COVID-19 crisis, Iberdrola group is proposing that the Spanish electricity sector invests 100 bn euros in clean energies in the next five years, which will create 300,000 jobs "at no cost to the public treasury". These views were expressed by Iberdrola's climate change director, Gonzalo Sáenz de Miera, on the programme La Entrevista on Radio 5 (Spain), during which he explained that these investments should be used to give additional impetus to renewable energies (among them, green hydrogen), strengthen electricity grids, bring forward the installation of electric vehicle charging points and reinforce pumping technology.

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  • sub CEOE SUMMIT Ignacio Galán, chairman of Iberdrola.

    "The electrification of the economy is key for economic recovery since our sector has one of the most powerful ripple effects"

    During his turn to speak at the business summit organised by the CEOE (Spanish Confederation of Employers' Organisations), the chairman of Iberdrola group, Ignacio Galán, highlighted the electricity sector's potential key contribution to the economic recovery that faces us in the wake of the coronavirus pandemic. "For every job created within our sector, 12 more are created in sectors such as construction, manufacturing of capital goods, engineering and installation services and machine tolos," Galán explained.

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  • sub TOWARDS THE NEXT GENERATION European Round Table.

    We support the Next Generation EU recovery plan

    The European Round Table for Industry (ERT), an organisation of which Iberdrola's chairman, Ignacio Galán, is a member, has shown its support for the European Commission's Next Generation EU plan, and is urging all the member states to follow suit. The ERT is a high-level intersectoral forum for CEOs and chairs of European multinationals.

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  • sub 'GREEN ECONOMIC RECOVERY' Gonzalo Sáenz de Miera.

    We advocate a clear and consensual commitment to environmental sustainability

    During the roundtable on Green Economic Recovery organised by Servimedia in collaboration with Iberdrola, representatives from government, business and NGOs all agreed on the need to join forces to support financial and social reconstruction in the wake of the COVID-19 crisis by rowing together towards environmental sustainability. Gonzalo Sáenz de Miera, Iberdrola's climate change director, admitted that the challenge will not be easy as there is "significant pressure to maintain the status quo," but he went on to stress that we must use this opportunity widely because "the plan that is adopted will determine the future of the environment and the economy."

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  • sub CAVAR WIND POWER COMPLEX

    Commissioning first major wind complex in Spain since the health crisis

    Iberdrola has begun operating its Cavar wind power complex, in the Spanish region of Navarre, the first major wind farm commissioned in Spain since the health crisis. With an installed capacity of 111 megawatts (MW), it is also the company's largest wind farm built in Spain since 2012. Iberdrola makes progress towards a green recovery in the wake of the COVID-19 crisis: "The Cavar complex is a great example of our potential to create jobs and drive prosperity if we pursue a low-carbon economy and steer our investments towards promising sectors, such as renewables, smart grids and energy storage", according to Ignacio Galán.

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  • sub INTERNATIONAL ENERGY AGENCY Ignacio Galán, Chairman of Iberdrola.

    Ignacio Galán participates in the IEA ministerial round table

    During the virtual meeting 'Mobilising resources to ensure safe and sustainable electricity systems', the chairman of Iberdrola group stated that "the countries with the most attractive regulatory frameworks will receive the highest volumes of investment, which will generate hundreds of thousands of jobs."

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  • sub EU RECOVERY PACKAGE

    "European policy is linked to the Green Deal, digitalization and re industrialization"

    Ignacio Galán talked to television channel Telecinco about the EU Recovery Package, a new step forward that the executive considers "tremendously coherent" with the strategy followed by the European Commission for some time now, which advocates for transforming our economy into something far more sustainable by investing in renewable energies, reducing the requirement to buy in energy from outside and creating jobs and technology along the way. "In Europe we have an amazing opportunity to transform our productive sector and make it more efficient, competitive and cleaner," he said.

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  • sub ARTICLE IN 'LA VANGUARDIA' Ignacio Galán, chairman of Iberdrola.

    Green recovery for the new prosperity

    In an article in the La Vanguardia daily newspaper, the chairman of Iberdrola declares his conviction that “the return to activity is an essential prescription for mitigating the consequences of the coronavirus on the economy and on jobs.” Galán acknowledges the draft Climate Change bill approved by the Spanish government, which paves the way towards climate neutrality by 2050, as well as the National Integrated Energy and Climate Plan (PNIEC) sent to Brussels, but he wants it brought forward: "Let's be courageous and speed up its implementation to create mass, forward-looking employment from today."

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  • sub CHOOSE RENEWABLE HYDROGEN Green hydrogen.

    We are asking the European Commission to back green hydrogen

    Iberdrola, together with other utilities, has joined the Choose Renewable Hydrogen initiative led by sponsors SolarPower Europe and WindEurope. In a letter addressed to the Vice-President of the European Commission, Frans Timmermans, the signatories are urging the Commission to take the necessary steps to maximise the potential of green hydrogen. Electrification will allow for the decarbonisation of the heating and road transport sectors, but others, such as heavy industry, long-distance haulage, aviation and shipping will have to opt for renewable hydrogen as the most cost-effective and sustainable solution for full-scale decarbonisation.

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  • sub INTERVIEW WITH 'EL PAÍS'

    "If we accelerate clean energy provision we could create 300,000 jobs immediately"

    In an interview with national newspaper El País, Iberdrola group chairman, Ignacio Galán, explained that "we will emerge from this crisis greener or not at all", an opinion shared by all European Union and United Nations leaders and participants in the forums in which he has taken part. "We need to invest and invest wisely to emerge from the crisis", he said.

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  • sub FOR A #SUSTAINABLERECOVERY Ignacio Galán, chairman of Iberdrola.

    We call on the Spanish Congress to support a green and sustainable recovery to emerge from the crisis

    More than 240 figures from politics, civil society and business in Spain, including Ignacio Galán, the chairman of Iberdrola group, have sent a letter to the Congress of Deputies Committee for Social and Economic Reconstruction [PDF] asking that the stimulus measures to combat the COVID-19 crisis be aligned with sustainability policies and the European Green Deal. This manifesto is open to the public for adherence. The movement thus follows in the wake of the Alliance for a Green Recovery [PDF] launched recently at the European level.

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  • sub SCIENCE BASED TARGETS Ignacio Galán, chairman of Iberdrola.

    We support recovery plans in line with climate action

    A total of 155 large multinationals belonging to the Science Based Targets initiative — including Iberdrola — have issued a declaration [PDF] urging Governments and international political leaders to base post-COVID-19 recovery measures on "solid climate action”. The signatories are asking for priority to be given to "a quicker and fairer transition towards a green economy" and for the aim of achieving carbon neutrality to be reached well before 2050.

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  • sub DAVOS FORUM VIRTUAL DEBATE Ignacio Galán, chairman of Iberdrola.

    Galán argues that recovery must be in line with the transition to a low-carbon economy

    The chairman of Iberdrola group, Ignacio Galán, was invited to participate in a virtual roundtable organised by the World Economic Forum which discussed how the recovery plans could contribute to creating employment, boosting economies and making energy systems more modern, resilient and cleaner.

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  • sub LETTER FROM THE ETC 7 prorities to help the global economy recover.

    We are the only Spanish company to sign up to the ETC's call for economic recovery

    The Energy Transitions Commission (ETC) has defined seven priorities to help the economy recover while helping to make society healthier, more resilient and climate neutral. The letter has been signed by 40 members [PDF], including Iberdrola, the only Spanish company that has signed up.

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  • sub GECV MANIFESTO Spanish Green Growth Group.

    We call for a green economic recovery

    Spanish Green Growth Group (GECV), formed by Iberdrola and 49 other companies, has launched a manifesto calling for economic stimuli to overcome the COVID-19 crisis to be aligned with climate action and sustainability, in order to consolidate a sustainable, robust and prosperity generating growth path.

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  • sub IRENA REPORT IRENA.

    "An ecological recovery is crucial as we emerge from the COVID-19 crisis"

    Ignacio Galán showed his support for the first global report on the future of renewables (Global Renewables Outlook) by the International Renewable Energy Agency (IRENA), which argues that the decarbonisation of the energy system will contribute to recovery in the short term and create more resilient and inclusive economies and societies.

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  • sub MULTILATERAL INITIATIVES United Nations Global Compact.

    We join multilateral agencies and international alliances to advocate for the Green Recovery

    Iberdrola has actively participated in some of the initiatives launched by multilateral organisations and international alliances in favour of the Green Recovery, such as those promoted by the United Nations Global Compact and coalitions such as We Mean Business, Corporate Leaders Group and World Business Council for Sustainable Development.

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  • sub EUROPEAN ALLIANCE FOR A GREEN RECOVERY The future is Europe.

    We are part of the European alliance to make the case for a green solution to the economic crisis caused by coronavirus

    Galán joins 180 other business leaders, political representatives, trade unions, NGOs and expert groups in this call to the European Union [PDF] to implement solutions that allow economies to overcome the recession hand in hand with the fight against climate change, in line with the European Green Deal.

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  • sub RESULTS 1Q 2020 Ignacio Galán, chairman of Iberdrola.

    Iberdrola accelerates its activity, contributing to the recovery from the COVID-19 crisis

    The group has invested almost €10 billion since the beginning of 2019, has made purchases from suppliers worth €3.8 billion so far this year, has 8,500 new MW under construction and maintains its forecast of 5,000 contracts in 2020.

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  • sub INVESTMENT OPPORTUNITIES Ignacio Galán, chairman of Iberdrola.

    "The European Green Deal goal of achieving carbon neutrality by 2050 will require significant investment"

    As Ignacio Galán explained to El Economista, “achieving climate neutrality is possible if we all play our part and move in the same direction.” In his view, one way of strengthening that commitment would be to impose higher taxes on those who pollute most.

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  • sub DAVOS 2020 Ignacio Galán, chairman of Iberdrola.

    "Electrification will be a key factor in the success of the EU Green Deal"

    During his participation in the World Economic Forum in Davos, Galán said he is confident that this agreement will serve to streamline procedures when dealing with new infrastructure and reward those who are truly transforming their business model towards a green economy.

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  • sub CLIMATE SUMMIT - COP25 Ignacio Galán, chairman of Iberdrola.

    "The climate emergency is an opportunity"

    In his speech at COP25, Ignacio Galán highlighted the European Commission's leadership on climate issues and the ambition of the Green Deal. "Urgent action is needed that should begin now," he said. "We must translate commitments and objectives into concrete actions and results".

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  • sub PRESENTATION OF THE EUROPEAN GREEN DEAL Ignacio Galán, chairman of Iberdrola.

    "The Green Deal demonstrates the EU's leadership in tackling one of the most serious and urgent problems the world faces"

    Coinciding with the presentation of the European Union's Green Deal, the chairman of Iberdrola group said he was confident that this agreement would be "the basis for regulation that would encourage investment and streamline procedures" to move towards a green economy.

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  • sub CLIMATE WEEK NYC Ignacio Galán, chairman of Iberdrola.

    "The transition to a green economy is a great opportunity"

    During Climate Week NYC, Ignacio Galán stated that "Iberdrola has shown that doing things with respect for the environment is not against the interests of shareholders or workers, but rather for the benefit of society."

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READY FOR THE GREEN RECOVERY

Energy transition.

We are 20 years ahead of the current energy transition

Iberdrola group is committed to a clean, reliable and smart business model which replaces production with polluting energy sources with clean energies.
Climate change.

Aligned with climate objectives

The company, which has set itself the goal of becoming carbon neutral by 2050, has invested more than €100 billion in these 20 years to achieve a decarbonised energy model.
Renewable energy.

We invest in renewable energy and smart grids

Iberdrola continued to move ahead on its construction projects worldwide, which amount to more than 8,500 megawatts (MW) of capacity.
Sustainable mobility.

Driving sustainable mobility

As an effective way to combat climate change, the company is leading the transition to sustainable mobility and the electrification of transport.
Digitalisation.

At the cutting edge of digitalisation

Iberdrola group plans to invest 4.8 billion euros in digital transformation between 2018 and 2022 to improve the operation and maintenance of its assets.
Photovoltaic plant.

Leaders in green financing

With a total of 17 operations, for a value of 11.4 billion euros, issued up to April 2020, Iberdrola is an international reference model in green financing.
SDG.

Committed to the SDGs

At Iberdrola we have incorporated the United Nations' Sustainable Development Goals into our business strategy.
Circular economy.

The circular economy is our base

The group bases its sustainable business model on reducing emissions, improving efficiency and optimising resources.

 

MOVING TOWARDS THE GREEN RECOVERY

Green Recovery measures.

Green Recovery measures

Governments, legislators, organisations and companies are planning a green recovery after COVID-19.
European Green Deal.

European Green Deal

The European Union's Green Deal sets out a strategic roadmap with concrete milestones that places the green transition at the centre of political action.
Mitigating and adaptating.

Mitigating and adapting to climate change

Climate change is a threat to the future of our planet, but there is still time for us to adapt to it and mitigate its effects.
Green hydrogen.

Green hydrogen

Decarbonising the planet is one of the goals that countries around the world have set for 2050. To achieve this, green hydrogen is one of the keys.
Green jobs.

Green jobs

The transition to a decarbonised economy is an engine of economic growth with the potential to create millions of green jobs.
Environmental taxes.

Environmental taxes

They are based on the principle that the polluter pays and taxes those behaviours that are harmful to the health of the planet.
Sustainable urban development.

Sustainable urban development

The UN's New Urban Agenda calls for more sustainable, inclusive and liveable cities. One way to achieve this is the eco-neighbourhoods.
Responsible consumption.

Responsible consumption

We will show you five everyday practices that you thought were harmless, or even ecological, but that cause considerable damage to the environment.
Food sustainability.

Food sustainability

Organic products, foodtech and reducing food waste are some of the ingredients for a more sustainable diet.
Biodegradable clothes.

Biodegradable clothes

The fashion industry is the second most polluting industry. Biodegradable clothing is one of the industry's main undertakings to promote sustainability.
Reducing plastic consumption.

Advices for reducing your plastic consumption

Minimising the consumption of plastics is simple and can change your life and the planet.

All the information about the

'GREEN RECOVERY'

What is the Green Recovery and what exactly does it consist of?

The situation arising from the international advance of COVID-19 has highlighted the fragility of our society in the face of global threats. A lesson learned that has made the need to address climate change more pressing than ever, since this phenomenon, the main risk the world will face in the coming years, will cause economic and social shocks of even greater magnitude than that caused by coronavirus. Rising sea levels, loss of biodiversity, overexploitation of natural resources, deforestation, pollution of the air and oceans, natural disasters, climate migration and increased conflicts are just some of the problems that global warming will generate or aggravate.

Against this background, the idea that the recovery will either be green or it will not happen is prevailing. The concept of Green Recovery involves aligning economic recovery measures with the achievement of long-term climate change and sustainability goals, lthereby achieving a drive towards a socio-economic model that is sustainable for the planet, more resilient to future shocks and more inclusive.

Committed to this vision, various agents, including Iberdrola, are opting for green stimulus policies in line with climate objectives as the basis for the economic recovery programmes to be developed worldwide. The Green Recovery could have numerous advantages over a more traditional approach; as demonstrated by a report led by the University of Oxford, which states that green stimulus policies generate more jobs, produce higher short-term returns and lead to a greater long-term multiplier effect than traditional ones.

What is the European Green Recovery alliance?

The European Green Recovery alliance is an alliance of a wide range of actors at European level that is signed by ministers, MPs from all parties, CEOs, NGOs, academics, etc. and driven by Pascal Canfin (European Parliament). It advocates defining and implementing green economic recovery packages to act as accelerators of the transition towards climate neutrality and healthy ecosystems.

How are the principles of Green Recovery being applied in Europe?

The principles of green recovery are part of the main political projects in the European Union. The European Commission has reiterated its determination to establish the European Green Deal as the roadmap for a long-term green recovery. Many European countries, including Spain, France, Germany, Italy, and Ireland, have also declared themselves in favour of aligning economic recovery programmes with climate action goals.

In Spain, policy proposals are being put forward to move towards meeting climate targets. For example, the Government has proposed a Climate Change and Energy Transition Law that aims to achieve climate neutrality by 2050 and incorporates ambitious intermediate targets for emissions, renewables and improved energy efficiency.

What can businesses do to support a coordinated Green Recovery process?

Companies can support this process through their investments and business activities in general by developing and even boosting their investment plans in business solutions aligned with climate and sustainability objectives, for example, by investing heavily in renewable energies or transport electrification. Additionally, as part of civil society, companies can publicly support green economic recovery frameworks through statements and campaigns.

How can citizens support Green Recovery?

Citizens are increasingly aware of all the challenges affecting society, although there is still some way to go in terms of information and awareness. One example of the support for green recovery frameworks has been the recent launch of the Manifesto for Sustainable Recovery, to which a broad cross-section of Spanish society (culture, universities, politics, business, NGOs, etc.) has adhered.

How can renewable energies contribute to the post-COVID-19 economic recovery?

The principles of a green recovery are based on aligning economic recovery measures with the achievement of medium and long-term climate change mitigation and sustainability goals.

Renewable energies combine both. Currently, they employ more than 11 million people worldwide and are a key sector in the decarbonisation of the economy and the achievement of climate goals. The current project portfolio would make it possible to accelerate investments and increase projects in the short term.

The sector is undergoing a technological revolution and cost reductions and technical improvements are making renewables increasingly competitive, so that accelerating these investments requires less support from budgets. Additionally, by investing in indigenous sources of generation such as wind and solar energy, the dependence on foreign energy is reduced, which results in significant improvements in the external balance and creates a sustainable industrial fabric for the future. Also, by displacing more polluting technologies, investment in renewable energies will improve air quality levels and as a result, health.