THE DRIVING IDEAS OF THE CORPORATE GOVERNANCE SYSTEM

The Driving Ideas of the Corporate Governance System

Leadership in corporate governance and transparency is one of the hallmarks of Iberdrola's identity: The Board of Directors therefore regularly reviews the Corporate Governance System, keeping it updated and including therein the good governance recommendations and best practices generally accepted in international markets.

In order to disseminate the content thereof and to assist in searching by subject matter, symbols are included together which each norm that identify the main "driving ideas" contained therein:

 

Sustainable Development Goals

Sustainable Development Goals

Iberdrola takes into consideration, in its daily activities, the seventeen Sustainable Development Goals (SDGs) approved by the United Nations and, in particular, contributes to the objectives relating to the supply of affordable and clean energy and the fight against climate change.

The rules of the Corporate Governance System that include the Sustainable Development Goals "driving idea" are the following:

By-Laws

Purpose and Values of the Iberdrola group and Code of Ethics

Corporate Governance and Regulatory Compliance Policies

Risk Policies

Sustainable Development Policies

Governance Rules of the Corporate Decision-Making Bodies and of Other Functions and Internal Committees

Climate Change and Environment

Climate Change and Environment

Iberdrola recognises the seriousness of the threat of global warming and commits to taking on a leadership role in the fight against climate change.

The rules of the Corporate Governance System that include the Climate Change and Environment "driving idea" are the following:

By-Laws

Purpose and Values of the Iberdrola group and Code of Ethics

Risk Policies

Sustainable Development Policies

Governance Rules of the Corporate Decision-Making Bodies and of Other Functions and Internal Committees

Shareholder Engagement

Shareholder Engagement

The Company commits to a proactive search for two-way interaction with the Company's shareholders in order to encourage their engagement in corporate life and forge a sense of belonging, maintaining a constructive, ongoing and effective dialogue with them.

The rules of the Corporate Governance System that include the Shareholder Engagement "driving idea" are the following:

By-Laws

Purpose and Values of the Iberdrola group and Code of Ethics

Corporate Governance and Regulatory Compliance Policies

Governance Rules of the Corporate Decision-Making Bodies and of Other Functions and Internal Committees

Gender Diversity

Gender Diversity

The Company has established the development of professional relationships based on equal opportunity, non-discrimination and respect for diversity as a strategic objective. In particular, it regards the achievement of gender equality within the Company to be one of the essential values of the organisation.

The rules of the Corporate Governance System that include the Gender Diversity "driving idea" are the following:

By-Laws

Purpose and Values of the Iberdrola group and Code of Ethics

Corporate Governance and Regulatory Compliance Policies

Risk Policies

Sustainable Development Policies

Governance Rules of the Corporate Decision-Making Bodies and of Other Functions and Internal Committees

Decentralised Structure

Decentralised Structure

The corporate and governance structure of the Iberdrola group is based on the organisation around the Company and the various country subholding companies and head of business companies, which seeks a balance between decentralised management and the exploitation of the synergies that arise from belonging to the group.

The rules of the Corporate Governance System that include the Decentralised Structure "driving idea" are the following:

By-Laws

Purpose and Values of the Iberdrola group and Code of Ethics

Corporate Governance and Regulatory Compliance Policies

Risk Policies

Sustainable Development Policies

Governance Rules of the Corporate Decision-Making Bodies and of Other Functions and Internal Committees

Compliance

Compliance

Iberdrola promotes a culture of "zero tolerance" towards corruption and fraud that inspires its effective and independent compliance system, which is under continuous review in order to incorporate the most advanced international practices in this area.

The rules of the Corporate Governance System that include the Compliance "driving idea" are the following:

By-Laws

Purpose and Values of the Iberdrola group and Code of Ethics

Corporate Governance and Regulatory Compliance Policies

Risk Policies

Sustainable Development Policies

Governance Rules of the Corporate Decision-Making Bodies and of Other Functions and Internal Committees

Compliance

Iberdrola takes into consideration, in its daily activities, the seventeen Sustainable Development Goals (SDGs) approved by the United Nations and, in particular, contributes to the objectives relating to the supply of affordable and clean energy and the fight against climate change.

The rules of the Corporate Governance System that include the Sustainable Development Goals "driving idea" are the following:

By-Laws

Purpose and Values of the Iberdrola group and Code of Ethics

Corporate Governance and Regulatory Compliance Policies

Risk Policies

Sustainable Development Policies

Governance Rules of the Corporate Decision-Making Bodies and of Other Functions and Internal Committees

Iberdrola recognises the seriousness of the threat of global warming and commits to taking on a leadership role in the fight against climate change.

The rules of the Corporate Governance System that include the Climate Change and Environment "driving idea" are the following:

By-Laws

Purpose and Values of the Iberdrola group and Code of Ethics

Risk Policies

Sustainable Development Policies

Governance Rules of the Corporate Decision-Making Bodies and of Other Functions and Internal Committees

The Company commits to a proactive search for two-way interaction with the Company's shareholders in order to encourage their engagement in corporate life and forge a sense of belonging, maintaining a constructive, ongoing and effective dialogue with them.

The rules of the Corporate Governance System that include the Shareholder Engagement "driving idea" are the following:

By-Laws

Purpose and Values of the Iberdrola group and Code of Ethics

Corporate Governance and Regulatory Compliance Policies

Governance Rules of the Corporate Decision-Making Bodies and of Other Functions and Internal Committees

The Company has established the development of professional relationships based on equal opportunity, non-discrimination and respect for diversity as a strategic objective. In particular, it regards the achievement of gender equality within the Company to be one of the essential values of the organisation.

The rules of the Corporate Governance System that include the Gender Diversity "driving idea" are the following:

By-Laws

Purpose and Values of the Iberdrola group and Code of Ethics

Corporate Governance and Regulatory Compliance Policies

Risk Policies

Sustainable Development Policies

Governance Rules of the Corporate Decision-Making Bodies and of Other Functions and Internal Committees

The corporate and governance structure of the Iberdrola group is based on the organisation around the Company and the various country subholding companies and head of business companies, which seeks a balance between decentralised management and the exploitation of the synergies that arise from belonging to the group.

The rules of the Corporate Governance System that include the Decentralised Structure are the following:

By-Laws

Purpose and Values of the Iberdrola group and Code of Ethics

Corporate Governance and Regulatory Compliance Policies

Risk Policies

Sustainable Development Policies

Governance Rules of the Corporate Decision-Making Bodies and of Other Functions and Internal Committees

Iberdrola promotes a culture of "zero tolerance" towards corruption and fraud that inspires its effective and independent compliance system, which is under continuous review in order to incorporate the most advanced international practices in this area.

The rules of the Corporate Governance System that include the Compliance "driving idea" are the following:

By-Laws

Purpose and Values of the Iberdrola group and Code of Ethics

Corporate Governance and Regulatory Compliance Policies

Risk Policies

Sustainable Development Policies

Governance Rules of the Corporate Decision-Making Bodies and of Other Functions and Internal Committees

Compliance