Iberdrola, at the forefront of best international practices
Our Governance and Sustainability 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 and revolves around three main vectors: enviromental, social and corporate governance. It is an organisational instrument for the achievement of our purpose and values of interest and social dividend, and as a guarantee of our project, identity and independence. In a constant process of revision and improvement, we incorporate the main recommendations of the international markets and the most advanced trends in this area. This is one of our hallmarks and makes us an international benchmark of good practice.
An independent and pluralistic board of directors
The board of directors focuses its activity on overseeing the Group's general guidelines and strategy, as well as establishing its corporate policies, some of which are pioneering, such as the Shareholder Engagement Policy.
The following keys define the company's vision of the future, its multinational projection and the establishment 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.
- 71 % of the directors are independent.
- It is a leading Ibex 35 company in terms of the presence of women on the Board of Directors, who exceed 40% of its members.
- The first Spanish company and one of the pioneers at the worldwide level in formalising a Shareholder Engagement Policy, 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. In April 2020, at the height of the COVID-19 pandemic in Spain, Iberdrola decided to maintain the date of the General Shareholders' Meeting by transforming this event to digital, in order to continue to meet the group's operational and financial calendar.
An internationally renowned effort
Our commitment to corporate governance best practices and dedication to sustainability, ethics, fiscal transparency and shareholder engagement has been widely recognised globally.
- We have been selected for the ninth consecutive year as one of the most ethical companies in the world, according to the 2022 World's Most Ethical Companies ranking prepared by the Ethisphere Institute, a leading organisation in defining standards of good business practice. We are the only Spanish utility in the ranking.
- For the sixthyear in a row, we are once again included in the 2022 Bloomberg Gender-Equality Index, selected in recognition for our equal opportunity and gender equality policies.
- For the thirtheenth consecutive year, we are once again included in the 2022 Bloomberg Gender-Equality Index, in recognition of our equal opportunity and gender equality policies.
- Company with the best corporate governance practices among European utilities. Ethical Boardroom recognised Iberdrola with the 2019 Award for Best Corporate Governance.
- The Shareholder Engagement Policy awarded for the best initiative in transparency by Capital Magazine.
- Only European electric company included in the 23 editions of the Dow Jones Sustainability Index (DJSI). External link, opens in new window.
- We have been awarded the National Prevention Prize "Prever" (Spain) for the work done to promote the improvement of health and safety conditions in the construction projects in renewable plants.
- Chairman Ignacio Galan has been recognised as one of the 100 most committed Latinos to climate action by SachamamaExternal link, opens in new window. , considering his positive impact on environmental advocacy.
- We have received the "t for transparent" seal from the HAZ FoundationExternal link, opens in new window. , which accredits the company's transparency in twelve areas, demonstrating our fiscal responsability.
We publish our second Compliance System Tranparency Report
At Iberdrola we have published the second Compliance System Transparency Report [PDF] in 2023, being the first IBEX company to undertake a study of this nature. It is a further step in the company's commitment to the implementation and continuous improvement of a robust ethics and compliance system and reaffirms a business model that respects the rights of customers, employees, shareholders and all its stakeholders in general. We thus ratify its first outstanding position in the Corporate Transparency Index on Integrity, Compliance and Human Rights of IBEX-35 Companies published by Transparency International in March 2022.
The report highlights our requirement that the main suppliers and third parties we deal with establish effective compliance systems similar to those of the company and responds to the requirements of analysts, investors and sustainability indices in terms of transparency regarding mechanisms for the prevention of corruption and fraud.
Ethics and transparency in our contact channels
Ethics and transparency are one of the essential pillars of the Iberdrola Group, and we promote both values in our relations with all of our stakeholders and with society. Therefore, through our contact channels, queries may be addressed regarding the most significant issues among our stakeholders, and through the Whistle-Blower Channel, any irregular conduct, unlawful acts, or acts contrary to the law or to the System of Governance and Sustainability that refer to or affect the scope of activity of the companies of the Iberdrola Group may be reported by means of identification or anonymously.