• Balance sheet
    Summary of the Company's equity accounts.
    Spanish: Balance
  • Bare owner
    Person who has shareholder status in the event of beneficial ownership (usufructo) of shares of IBERDROLA, S.A. and who is vested with all rights inherent to the shares, except for financial rights, which are vested in the beneficial owner.
    Spanish: Nudo propietario
  • Beneficial ownership (usufructo)
    Right whereby the holder thereof is entitled to the dividends that the Company approves for distribution, without prejudice to the bare owner retaining shareholder status. See "Bare owner".
    Spanish: Usufructo
  • Biomass energy
    Energy obtained using waste organic material left over from farming, livestock and forest activities as well as from by-products of food and agricultural industries, and from the transformation of wood. Biomass is used for the production of heat, electricity and biofuels for vehicles. It is non-polluting, since the carbon is captured by plant elements (the forest and farming leftovers, etc.) which free oxygen to the atmosphere. Power stations burn the biomass, returning to the atmosphere the CO2 captured by the plants at the start of the photosynthesis process. As such, net CO2 emissions to the atmosphere are zero.
    Spanish: Energía de biomasa
  • Board of Directors
    Collective corporate decision-making body, made up of the directors appointed by the shareholders at the General Shareholders' Meeting, vested with the widest powers and authority to manage and represent the Company and which focuses its activity on establishing the general management policies, strategies, and guidelines for the Group, supervising the development of such strategies and guidelines and deciding matters of strategic significance at the Group level.
    Spanish: Consejo de Administración
  • Bond
    Fixed-income negotiable security, similar to debentures but with shorter periods to maturity (in general, from 3 to 5 years). See "Debenture".
    Spanish: Bono
  • Brundtland Commission
    World Commission on Environment and Development, named after its chair Gro Harlem Brundtland, a former prime minister of Norway. The results of its works were published in 1987 under the title "Our Common Future" and is one of the leading reference texts on sustainable development.
    Spanish: Comisión Brundtland
  • Business Model
    Design of the business organisation to achieve its strategic objectives. The IBERDROLA group?s business model entails the global integration of the businesses, is focused on maximising the operational efficiency of the various business units, and ensures the dissemination, implementation and monitoring of the overall strategy and the basic management guidelines established for each business, primarily through the exchange of best practices among the various companies of the Group and without detracting from independence in decision-making by each of them.
    Spanish: Modelo de negocio
  • Business subholding companies
    The Group's business subholding companies are in charge of the day-to-day effective management of each business subgroup, as well as of day-to-day control, through their own boards of directors and management decision-making bodies.
    Spanish: Sociedades cabecera de los negocios
  • By-Laws
    Rules approved by the shareholders governing the operation of a company, the relationships between the company and its shareholders, the relationships among shareholders themselves, and the manner in which it must act with respect to third parties. 

    The By-Laws of IBERDROLA contain the definition of its enterprise, the particular concept of corporate interest that must govern the conduct of its management decision-making bodies, the commitment to the social dividend, and the determination of the essential basis and of the most significant foundations and aspects of its business, corporate and institutional organisation, which make up its virtual soul.

    Spanish: Estatutos Sociales
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