Iberdrola, at the forefront of best international practices
Iberdrola's Governance System is inspired by and based upon a commitment to ethical principles, transparency and leadership in the application of the best international practices in good governance expressed around the defense of the corporate interest and the creation of sustainable value for the society, the citizens, our customers, our workers and our shareholders. Undergoing a constant process of review and improvement, it incorporates the principal recommendations of the international markets and the most advanced trends in this area. It is one of the hallmarks of its identity, making Iberdrola an international leader in good practices.
GUIDED BY AN INDEPENDENT AND DIVERSE BOARD OF DIRECTORS
The board of directors focuses its activity on supervising the group's general guidelines and strategy, as well as the establishment of its corporate policies, some of which are pioneering, such as the recent shareholder engagement policy.
The following points define the company's future vision, its multinational scope and the implementation of channels for the participation and engagement of the shareholders:
- A Board of Directors under continuous renewal, adapted to the needs raised by the businesses and markets in which the Group does business.
- There are 14 directors of various nationalities and professional profiles, selected based on a broad set of criteria [PDF].
- 71% of the directors are independent, and women represent 36% of the members of the Board of Directors (one of the Ibex 35 companies with the largest presence of female directors).
- The first Spanish company and one of the pioneers at the worldwide level in formalising a Shareholder Engagement Policy [PDF], which is one of the fundamental pillars of the corporate governance strategy.
- Constructive, ongoing, efficient, and transparent dialog with the shareholders, fostering their engagement and promoting their active participation through various channels, such as the interactive On Line Shareholders (OLS) system and the Shareholders' Club,among others.
- The General Shareholders' Meeting, a principal milestone for participation, is framed within the "Shareholder's Day", during which there are various presentations and activities to bring the shareholders closer to the business, corporate, and institutional reality of Iberdrola.
AN INTERNATIONALLY RENOWNED EFFORT
Iberdrola's commitment to the best practices of corporate governance and its dedication to the areas of sustainability, ethics and fiscal transparency, and its close relationship with its shareholders have been widely recognized worldwide.
- Iberdrola has been awarded Best Corporate Governance (Spain) by prestigious publication World Finance, in recognition for its transparent financial information and good governance practices, drawing attention to the by-law reform carried out by the group to include commitment to social dividend and the company's mission, vision and values.
- Iberdrola has been selected for the fourth consecutive year as one of the most ethical companies in the world, according to the 2017 World's Most Ethical Companies ranking prepared by the Ethisphere Institute, a leader in the definition of standards of best business practices.
- Company with the best corporate governance practices among European utilities. Ethical Boardroom has recognised Iberdrola with the 2016 Award for Best Corporate Governance, an award the company has received for the third year in a row. The Corporate Governance Awards, organised by World Finance, have recognised Iberdrola among Spanish companies in this area.
- The Shareholder Engagement Policy awarded for the best initiative in transparency by Capital Magazine.
- Only European electric company included in the 18 editions of the Dow Jones Sustainability Index (DJSI).
- Leading company in terms of fiscal transparency among all companies on the Ibex 35, according to the Transparency Report on the Fiscal Accountability of the Ibex 35 Companies prepared by Fundación Compromiso y Transparencia.
- Recognised by the Good Governance and Stockholders Forum as the Best Shareholder Outreach Initiative among all Spanish listed companies.
- Euroshareholders Award for the best initiative in favour of minority shareholders(*) Nota , given by the Spanish Association of Minority Shareholders of Listed Companies (AEMEC).
(*) Spanish version.