Glossary

C

  • What is CO2 equivalent?

    Unit used to measure the emission of greenhouse gases. Gases are measured in terms of their equivalence in carbon dioxide, as this is the most well-known GHG. The unit used is tCO2eq, which means a greenhouse gas emission volume equal to one tonne of CO2.


    Spanish: CO2 equivalente
  • What is Call to the General Shareholders' Meeting?

    See "Announcement of the call to meeting".
    Spanish: Convocatoria de la Junta General de Accionistas
  • What is Carbon Disclosure Project?

    Not-for-profit organisation that runs a global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts. IBERDROLA is included in the Carbon Disclosure Leadership Index, which measures the level of companies' transparency in relation to their carbon emissions, and in the Carbon Performance Index, which analyses the effectiveness of the measures they are taking to reduce them.
    Spanish: Carbon Disclosure Project
  • What is Carbon Fund for a Sustainable Economy (FES-CO2)?

    Climate finance instrument created through Law 2/2011 of 4 March on Sustainable Economy, the goal of which is to refocus economic activity towards low-carbon models, while at the same time contributing to meeting the international goals assumed by Spain to reduce emissions of greenhouse gases.
    Spanish: Fondo de Carbono para una Economía Sostenible (FES-CO2)
  • What is Carbon dioxide (CO2)?

    Gas that is produced both naturally and as a sub-product of the combustion of fossil fuels (coal, natural gas and oil) and biomass, changes in the use of land, and other industrial processes. It is the main greenhouse gas produced by human activity, and therefore the one that most affects the planet's radiation balance.
    Spanish: Dióxido de carbono (CO2)
  • What are Carbon sinks?

    According to the United Nations Framework Convention on Climate Change (UNFCCC), it is any process, activity or mechanism which reabsorbs or removes a GHG, an aerosol or a precursor of a GHG from the atmosphere (UN 1992). Major natural carbon sinks include the sea and, in certain years, terrestrial vegetation.
    Spanish: Sumideros de carbono
  • What is Caring for Climate?

    The UN's Initiative for Business Leadership on Climate Change launched by UN Secretary-General Ban Ki-moon in July 2007. Its goal is to help prevent a climate change crisis by mobilising a critical mass of business leaders to implement and recommend climate change solutions and policies. IBERDROLA, S.A. joined in September 2008.
    Spanish: Caring for Climate
  • What is Cessation in office, removal and resignation of directors?

    Termination of the relationship between a director and the company, which occurs upon the expiration of the term of office to which the director was appointed or when so decided by the shareholders in exercise of their powers at a general shareholders' meeting.
    Spanish: Cese, separación y dimisión de los consejeros
  • What is Chair of the general shareholders' meeting?

    Position held by the chair of the board of directors of a company at its general shareholders' meeting, whose function is, among other things, to verify the legality of the meeting, certify the identity and status of the attendees, regulate the conduct thereof and announce the results of the voting, which must be recorded in the minutes.

    Spanish: Presidente de la junta general de accionistas
  • What is Chairman of the board of directors?

    Top executive responsible for the efficient operation of the board of directors of a listed company, who shall in all cases be responsible for exercising the following powers under the Companies Act:

    - To call and preside over meetings of the board of directors, setting the agenda for the meetings and directing the discussion and debate.
    - To preside over the general shareholders' meeting unless otherwise provided in the by-laws.
    - To ensure that the directors receive in advance information sufficient to deliberate on the items on the agenda.
    - To stimulate the debate and active participation of the directors during meetings, safeguarding their freedom to take positions.


    Spanish: Presidente del consejo de administración
  • What is Chief Executive Officer?

    Member of the board of directors to whom certain powers of the collective body are individually delegated within the limits established by law.
    Spanish: Consejero delegado
  • What is Circular economy?

    Strategy aimed at generating a system for using resources that prioritises the reduction, reuse and recycling of elements.
    Spanish: Economía circular
  • What is Climate?

    Atmospheric pattern that manifests cyclically over a long period of time in a particular region or area of the planet. The atmospheric patterns are: tropical, subtropical, marine and Mediterranean.
    Spanish: Clima
  • What is Climate Leadership Index?

    Selective index that recognises the strategy of companies for fighting climate change. There are two indices: Disclosure, which assesses the transparency in a company's climate change information, and Performance, which assesses a company's performance in this area. IBERDROLA is listed on both indices.
    Spanish: Climate Leadership Index
  • What is Climate change?

    Defined by article 1 of the United Nations Framework Convention on Climate Change as: "a change of climate which is attributed directly or indirectly to human activity that alters the composition of the global atmosphere and which is in addition to natural climate variability observed over comparable time periods".
    Spanish: Cambio climático
  • What is Co-ownership of rights in shares?

    See "Co-ownership of shares".
    Spanish: Cotitularidad de derechos sobre la acción
  • What is Co-ownership of shares?

    A situation in which one or more shares of a company are held by several owners. The co-owners of one or more shares must designate a single person for the exercise of shareholder rights, and shall be jointly and severally liable to the company for all obligations arising from such shareholder status. The same rule applies to other instances of co-ownership of rights in equity interests or shares.
    Spanish: Copropiedad sobre la acción
  • What is Code of Ethics?

    A code that further develops the ethical principles set out in the Purpose and Values of the Iberdrola group, good governance recommendations and social responsibility principles, and is intended to serve as a guide for the conduct of the directors, professionals and suppliers of the Company and its group of companies.
    Spanish: Código ético
  • What is Cogeneration?

    A process whereby electricity and useful thermal energy, such as steam, domestic hot water and cold air, are obtained simultaneously. The advantages of cogeneration are greater energy efficiency, fuel savings and a reduction in CO2 emissions.
    Spanish: Cogeneración
  • What is Cogeneration plant?

    Electric power generation plant that simultaneously uses a portion of the heat produced as a source of thermal energy, which significantly increases the performance of the process compared to the performance that can be achieved by conventional electric power generation.
    Spanish: Central de cogeneración
  • What is Combined cycle plant?

    Combined cycle electric power generation plant, with gas turbine (Brayton cycle) and steam turbine (Rankine cycle) driving electrical generators, which is fed by natural gas. The efficiency of a natural gas combined cycle plant (55%) is much higher than that of a coal-fired power plant (35%). This higher efficiency translates into lower fuel consumption per GWh produced, lower consumption of auxiliary materials from thermal production, lower emissions per GWh produced, lower water consumption and lower volume of waste (ash).

    Spanish: Central de ciclo combinado
  • What are Committees of the Board of Directors?

    Committees created by the board of directors and made up of directors in order to issue proposals and reports (in the case of consultative committees) or make binding decisions (in the case of executive committees) in the areas within their purview. At least one audit committee and one appointments and remuneration committee (or separate appointments and remuneration committees) are required, with the requirements stated in the Companies Act.
    Spanish: Comisiones del Consejo de Administración
  • What is Companies Act?

    Restatement approved by Royal Legislative Decree 1/2010 of 2 July on the Rules Governing Partnerships Limited by Shares, Joint-Stock Companies and Limited Liability Companies. See "Company".
    Spanish: Ley de Sociedades de Capital
  • What is Company (Sociedad Anónima)?

    A company in which capital is divided into shares of stock and made up of the contributions of all the shareholders, who are not personally liable for the debts of the company.
    Spanish: Sociedad anónima
  • What are Company books?

    Books legalised at the Commercial Registry in which the minutes of the meetings held and the decisions and resolutions adopted by the corporate decision-making bodies are recorded.
    Spanish: Libros sociales
  • What is Company name?

    Name used to identify a company as a holder of rights and obligations in all legal relationships in which it engages.
    Spanish: Denominación social
  • What is Company object?

    Set of activities that a company can perform in accordance with the provisions of its by-laws.
    Spanish: Objeto social
  • What is Compliance?

    Set of organisational rules, procedures and functions intended to implement an ethical culture within the company, as well as to prevent and avoid any impropriety or violation of applicable internal or external rules, including corruption and market abuse.
    Spanish: Cumplimiento
  • What is Compliance Unit?

    A collective internal and permanent body, which in the case of IBERDROLA is linked to the Sustainable Development Committee of the Board of Directors, with powers and duties in the area of regulatory compliance and the Corporate Governance System, particularly with respect to crime prevention matters.
    Spanish: Unidad de Cumplimiento
  • What is Conflict of interest?

    Situation in which the interests of a director, officer or any professional directly or indirectly conflict with the interest of the company to which they provide their services or of other companies within the same group.
    Spanish: Conflicto de interés
  • What is Convertible debenture?

    Fixed-income negotiable security representing a debt for the issuer thereof, which bears interest in favour of the investor and entitles the holder to exchange it for newly-issued shares at the price specified in the terms of the issue.
    Spanish: Obligación convertible
  • What are Corporate Decision-Making Bodies?

    The shareholders acting at a General Shareholders' Meeting, the Board of Directors, the Executive Committee, and the chairman & chief executive officer of IBERDROLA, S.A.
    Spanish: Órganos sociales
  • What is Corporate Governance System?

    Internal rules of a listed company. IBERDROLA's Corporate Governance System is made up of its By-Laws, the Purpose and Values of the Iberdrola group, corporate policies and other governance and compliance rules.
    Spanish: Sistema de gobierno corporativo
  • What are Corporate Policies?

    Guidelines of a company that guide the conduct of its shareholders, officers and other professionals. IBERDROLA's corporate policies are grouped into corporate governance and regulatory compliance policies, risk policies and sustainable development policies.
    Spanish: Políticas corporativas
  • What is Corporate Resolution?

    Decision validly adopted by any of the corporate decision-making bodies that binds the company vis-à-vis third parties.
    Spanish: Acuerdo social
  • What is Corporate Social Responsibility?

    The European Union defines it as "The responsibility of enterprises for their impact on society". This definition includes any kind of impact (direct or indirect, positive or negative) that companies may have on their various Stakeholders.
    Spanish: Responsabilidad Social Corporativa
  • What is Corporate Website?

    Instrument to channel the relations of the company with its stakeholders, and particularly for official communication with shareholders and investors.
    Spanish: Página web corporativa
  • What is Corporate environmental footprint?

    AENOR index based on the ISO/TS 14072 international technical specification accrediting that the organisation has identified all environmental impacts during the life cycle of its activities, with the aim of improving and reducing them. IBERDROLA was the first organisation to obtain the Corporate Environmental Footprint certificate from AENOR.
    Spanish: Huella ambiental corporativa
  • What is Corporate governance?

    Defined in the Cadbury Report as the system by which companies are directed and controlled, it is a set of rules, principles and procedures that govern the structure and operation of a company's governance bodies and the relations among the board of directors, shareholders and stakeholders.

    Spanish: Gobierno corporativo
  • What is Corporate transformation?

    Resolution adopted by the shareholders at a general shareholders' meeting in order to change the original form of corporate organisation to another among those allowed by law.
    Spanish: Transformación social
  • What is Counsel to the board of directors?

    Counsel appointed by the Board of Directors, who has the duty to give advice on the legality of the resolutions adopted by the board of directors and, if applicable, of the deliberations at which the counsel is present; evidence of all action taken in the counsel's professional capacity must be recorded in the corporate documents, as provided by Law 39/1975 of 31 October on the Appointment of Counsel to the Board of Directors of Certain Commercial Companies.
    Spanish: Letrado asesor del consejo de administración
  • What is Counting of votes?

    Counting of votes cast by the shareholders on proposals that the board of directors submits to the shareholders at a general meeting. The results of the voting must be published on the corporate website within five calendar days following the end of the general shareholders' meeting of listed companies.
    Spanish: Escrutinio de votos
  • What are Country subholding companies?

    Companies of the IBERDROLA group grouping together equity stakes in each of the head of business companies that carry out their activities in the various countries in which the Group operates and centralising the provisions of services common to such companies.
    Spanish: Sociedades subholding
  • What is Credit rating agency?

    Entity that issues reports and ratings on the ability of issuers to meet their short-and-long-term financial obligations.
    Spanish: Agencia de calificación crediticia
  • What is Cybersecurity?

    Set of measures intended to protect the components of the information technology and communications systems infrastructures from external cybernetic threats.
    Spanish: Ciberseguridad
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