Climate change is one of the most important challenges that humanity is facing in the 21st century. The electricity sector plays a key role in achieving the purpose set by the Paris agreement to limit the rise in the planet's temperature and the greenhouse effects.
Fulfilling the environmental commitments assumed in the Paris Agreement (COP21) requires profound changes in production processes and consumption patterns throughout all sectors of the economy.
Iberdrola's Moving for Climate NOW project has been acknowledged as the best outreach initiative in the second Climate Leaders Awards, championed by The Climate Reality Project, for its work in the fight against climate change in Spain.
The effects of climate change are undeniable and mitigating them is one of the most pressing topics on the global climate agenda. This was made clear at the Climate Action Summit 2019, which took place in New York on 23 September, where the leaders from politics, economics and civil society who attended the event focused on mitigation. Iberdrola group, which was an active participant at the summit, contributed to the success of the event with specific actions and commitments.
Iberdrola has positioned itself as the leading utility company at both the national and global level, thanks to the detail and transparency shown in the preparation and publication of its 2017 Sustainability Report and on the company website. This has been recognised by the report Sustainability Reporting Performance of the IBEX 35, prepared by the consultancy firm EcoAct España (September 2018).
The historic Paris Agreement, adopted by 195 nations during COP21 (2015), included the goal of strengthening the world's response to the threat of climate change and, in order to do so, to keep the increase in the average temperature worldwide well below 2º C above pre-industrial levels and to continue efforts to limit this temperature increase to 1.5º C.
The Financial Stability Board (FSB) created the Task Force on Climate-related Financial Disclosures (TCFD) in 2015, which is a working group to encourage companies to inform their investors about the risks related to climate change and the way in which they are managing them. Here, we present the progress made by Iberdrola in implementing the 11 recommendations prepared by this organisation.