News
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22/04/2019“A united Europe is stronger and more valuable for the European states and citizens and for the world” On the occasion of the European Parliament elections next May, the chairman of the Iberdrola group, Ignacio Galán , has published an article in the German financial newspaper Handelsblatt dated 22 April about the need for a united Europe to face the current challenges. Among the main milestones, the following stand out: * The combined effect of the challenges that is facing the European Union today requires a new joint effort so that the EU can adopt common solutions from a stronger position. * Renewing the public's confidence in the European project provides an exciting opportunity to show that a stronger and more united Europe is the only scenario that can provide its 500 million citizens with a vision of prosperity, security and well-being under shared democratic values. * Public authorities, political parties, civil society organisations and businesses all have a role to play. They have the responsibility to defend and explain that, by remaining united around common values, they will allow to face the challenges of an ever-changing global world in a better way. * Europe's commitment to sustainable energy to meet the targets of the Paris Agreement will create the conditions for promoting investment, boosting economic activity, promoting job creation, encouraging innovation and opening up new business opportunities for companies, while at the same time reducing emissions and energy dependency on foreign countries. * According to figures published by the European Commission, the implementation of the long-term climate-neutral strategy could mobilise, in the energy sector alone, investments that would increase Europe's GDP by up to 2.8%, compared to the current 2%. In other words, additional investments in the range of 175 to 290 billion euros a year. READ MORE
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15/04/2019Iberdrola joins Forética Iberdrola has joined Forética, the leading business and professional corporate social responsibility and sustainability association in Spain and Latin America, whose mission is to promote the integration of good social, environmental and governance practices. According to Roberto Fernández Albendea, director of Reputation and CSR at Iberdrola, "joining Forética is further evidence of Iberdrola’s commitment to Corporate Social Responsibility and Sustainable Development. It is also a sign of our belief that in times of great economic, social and environmental challenges, it is ¡crucial to join forces and share knowledge and experiences with other institutions, organisations and companies. This sums up Iberdrola’s recently-approved corporate purpose, which stresses the importance of collaborating to be able to have a deeper impact on society, which is a basic principles of CSR”. According to Fernández Albendea, the group’s purpose is "to continue building together a healthier, more accessible energy model, based on electricity every day". The company's strategy is to generalise the use of renewable energy sources, efficient use of energy, smart grids and digital transformation, and also encourages inclusiveness, equality, fairness and social development. On the same theme, Iberdrola has designed a corporate social responsibility plan entitled “Responsible energy for people”, which sets out seven priorities, 50 working lines and more than 300 actions aligned with the United Nations Sustainable Development Goals (SGD). The company's most significant contributions to achieving the sustainable development goals focus on two main areas: affordable, non-polluting energy supplies (goal 7) and action for the climate (goal 13), although the company also contributes to the remaining goals. According to the general manager of Forética, Germán Granda, “Forética and Iberdrola will work together to implement innovative solutions in the company's everyday management in line with leading international trends regarding society, the environment and accountability. It is also a place to get together and share useful knowledge and experience from the stakeholders’ network. This year, Iberdrola has received some important recognition for its work in the CSR area, which includes the World Finance Corporate Governance Award to the best company in Spain and being the only Spanish company to appear on the list of the 128 most ethical companies in the world, according to the World’s Most Ethical Companies by Ethisphere Institute. What’s more, the company is the only European electricity company selected in 19 editions of the Dow Jones Sustainability Index and the only Spanish electricity company included, for the second consecutive year, in the Bloomberg Gender-Equality Index 2019. About Forética Forética is the leading business network on sustainability and corporate social responsibility in Spain and Latin America. The mission of the body is to encourage the integration of social, environmental and good governance aspects in corporate and organisational strategy and management. It currently has more than 200 members. Forética is Spain’s only representative on the World Business Council for Sustainable Development and, therefore, constitutes the Spanish Business Council for Sustainable Development. It is also on the Board of Directors of CSR Europe. In Spain, it is the expert voice on the CSR State Council. Forética owns the SGE 21 standard, the first social responsibility management system that allows, on a voluntary basis, to achieve a CSR certification. More than 150 companies and organisations are certified according to the Standard in Spain and Latin America. About Iberdrola Iberdrola is a global energy leader, the number one producer of wind power, and one of the world’s biggest electricity utilities by market capitalisation. The group is present in numerous countries and supplies energy to over 100 million people mainly in Spain, the United Kingdom (Scottish Power), the USA (AVANGRID), Brazil (Neoenergia) and Mexico. With a workforce of 34,000 and assets in excess of €113bn, it achieved a turnover of €35bn and a net profit of €3bn in 2018. Iberdrola is leading the transition towards a sustainable energy model through investments in renewable energy, smart grids, large-scale energy storage and digital transformation, offering the most advanced products and services to its customers. Thanks to its commitment to clean energy, Iberdrola is one of the companies with the lowest emissions and an international benchmark for its contribution to the fight against climate change and for sustainability. READ MORE
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08/04/2019Ignacio Galán y Miguel Arias Cañete presentan la décima edición de ‘Cuadernos de Derecho para Ingenieros’, centrada en la Agenda 2030 de la ONU El presidente de Iberdrola, Ignacio Galán, y el comisario de Acción por el Clima y Energía de la Unión Europea, Miguel Arias Cañete, han presentado esta mañana en el Aula Magna de la Universidad Pontificia Comillas la décima edición de los Cuadernos de Derecho para Ingenieros, que Iberdrola coordina en colaboración con la Asociación/Colegio Nacional de Ingenieros del ICAI. En la presentación también han participado el rector de la Universidad Pontificia Comillas, Julio L. Martínez, SJ, la presidenta emérita del Tribunal Constitucional y coautora de los Cuadernos, Mª Emilia Casas, y el catedrático de Derecho Constitucional en la Universidad Autónoma de Madrid, Manuel Aragón. Tras 10 años de trabajo y 47 volúmenes publicados, los Cuadernos de Derecho para Ingenieros se han convertido en una obra de referencia que busca “servir de herramienta para fomentar la transformación de la realidad a base de soluciones innovadoras”, en palabras de Ignacio Galán. El presidente del grupo ha comentado, además, que “esta iniciativa es un magnífico ejemplo de cómo instituciones, universidad y empresas podemos trabajar de la mano para ser motores de cambio, elementos dinamizadores del desarrollo y generadores de nuevas tecnologías que mejoren la calidad de vida de las personas”. A lo largo de la década, prestigiosos juristas han trasladado al colectivo de ingenieros aspectos jurídicos relacionados con temas tan diversos como la reforma del Código Penal, los concursos de acreedores, el uso de bitcoin o la ciberseguridad. Esta nueva entrega, editada por Wolters Kluwer, centra su primer capítulo en los Objetivos de Desarrollo Sostenible (ODS) de la Agenda 2030 de las Naciones Unidas. En concreto, este volumen analiza las implicaciones jurídicas de los objetivos 5 (igualdad de género), 13 (acción por el clima) y 17 (alianzas multiactor para alcanzar las metas propuestas). Durante su intervención, el presidente de Iberdrola ha recordado que la compañía ha incorporado a su estrategia y Estatutos Sociales los ODS como parte de su dividendo social: “El compromiso con ellos viene siendo, desde hace mucho tiempo, una absoluta prioridad para nosotros”, ha afirmado. Ignacio Galán ha querido también hacer balance de la labor desarrollada en la Comisión Europea por Miguel Arias Cañete, quien “ha dejado patente su capacidad para llevar a cabo con éxito tareas tan complejas como aumentar la seguridad de Europa en materia de energía o dotarnos de un marco legal que permite al continente luchar de una manera efectiva contra el calentamiento global”. Por su parte, el comisario de Acción por el Clima y Energía ha analizado la Estrategia a largo plazo de reducción de emisiones de la Unión Europea y ha apuntado que el objetivo de la misma es “confirmar el compromiso de Europa de liderar la acción por el clima a escala mundial y presentar una visión que pueda llevarnos a conseguir de aquí a 2050 cero emisiones netas de gases de efecto invernadero a través de una transición socialmente justa realizada de forma rentable”. Además del volumen dedicado a los ODS de la ONU, esta edición de los Cuadernos cuenta con otros cuatro bloques temáticos que también buscan acercar el mundo jurídico a los profesionales de la ingeniería para el óptimo desarrollo de su actividad profesional. Así, la obra se completa con los siguientes apartados: responsabilidad de los consejeros en las sociedades, coordinado por el abogado mercantil Rafael Sebastián; los contratos de utilización del buque y contratos auxiliares de navegación, coordinado por el abogado marítimo Carlos López-Quiroga; economía colaborativa, coordinado por el catedrático de Derecho Mercantil Juan Ignacio Peinado; y agricultura, alimentación y Derecho, bajo la coordinación del catedrático de Derecho de la Universidad Politécnica de Madrid Antonio Jiménez-Blanco Carrillo de Albornoz. Una década de conocimiento y contribución social La edición de los Cuadernos ha contribuido a la labor social que desarrolla la Fundación de Ingenieros ICAI para el Desarrollo a través de su Programa de Acceso a la Energía, relacionado con el ODS 7 (energía asequible y no contaminante). La Fundación ya ha desarrollado numerosos proyectos con los que ha conseguido mejorar la educación y el suministro de electricidad y agua a colectivos vulnerables de España, África y América Latina. READ MORE
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29/03/2019Iberdrola shareholders back the re-election of Ignacio Galán as group Chairman Iberdrola’s shareholders have given majority backing to the re-election of Ignacio Galán as Chairman of the group for a period of four years, a proposal listed in point 18 of the AGM´s agenda, held today in the Palacio Euskalduna in Bilbao. The meeting, attended by 74.12% of Iberdrola’s social capital, today also passed all the proposed resolutions included in the agenda with an average of 98% votes in favour split as follows: * Group 1 (annual accounts and corporate management): 99.2%. * Group 2 (Corporate Governance System): 99.9% * Group 3 (remuneration): 98.3%. * Group 4 (Board of Directors): 98.2%. During his presentation to shareholders, Ignacio Galán reviewed a “historic” 2018 in which the company for the first time surpassed €3bn net profit, i.e. €3.01bn, 7.5% more than in 2017, and achieved a gross operating profit (Ebitda) of €9.35bn, 28% more than in the previous financial year. On the subject of the results achieved, Ignacio Galán declared that “this demonstrates once again that a firm commitment to caring for the environment is absolutely compatible with our business plan - with growth, profitability and with the creation of value for all of you”. As the company Chairman explained, this favourable outcome has allowed the company Board to propose to the AGM “the highest dividend paid to date”: €0.351 gross per share for the 2018 financial year, 7.7% more than the previous year. This amount results from adding the €0.151 gross per share already paid last February as an interim dividend to the at least €0.20 gross per share to be paid as an additional dividend next July. Additionally, this amount will be enhanced by the €0.005 gross per share as a bonus for attending the AGM. The increasing shareholder return, in line with the good results, plus the positive progress in Iberdrola’s share price have put total shareholder profitability (RTA) at 31.9% since the last General Meeting, compared to the 17% of Eurostoxx Utilities and the fall of the 2.4% of the Ibex 35. Since the updating of the Strategic Outlook 2018-2022 on 26 February in London, the performance of Iberdrola’s shares has been particularly positive: the company now exceeds €50bn in market capitalisation, a sign of the confidence the market has in the group’s plan and strategy for the coming years. Ignacio Galán also mentioned the significant investments made by Iberdrola: “In 2018 we invested €5.3bn, one of the highest amounts recorded by the group in a single financial year, bringing total investment to over €20bn in the last five years”. On this subject, the €34bn investment forecast for 2018-2022 equates to an annual average of €7bn over the next 4 years. All of this will allow the company to continue to improve its results forecasts. For 2022, as its Chairman confirmed, the company expects to achieve an Ebitda in excess of €12bn and a net profit of between €3.7bn and €3.9bn, an increase of 30% over 2018. These forecasts allow for progress on the setting of a minimum annual dividend which will reach €0.40 gross per share for 2022. “A figure that could increase in line with growing results” as Ignacio Galán pointed out. Climate change and social dividend During his speech to shareholders, Ignacio Galán made special reference to the UN Agenda 2030 Sustainable Development Goals (SDG) that Iberdrola has incorporated into its strategy and corporate bylaws, as part of its social dividend. “Sustainability in the long term, in its broadest sense, comes from equilibrium in the satisfaction of everyone’s interests”, he explained. Galán reiterated the “urgency” of acting against climate change before the consequences are “irreversible”. The Chairman of Iberdrola said “it falls to each public and private actor, to work together in harmony to turn this global threat into an opportunity to improve competitiveness and economic growth for the benefit of all”. Referring to the Integrated National Energy and Climate Plan put forward by the Government of Spain, Ignacio Galán gave a positive judgement on its content: “An ambitious and tough plan, but achievable; it can put us in a privileged position in the energy transformation process”. After recalling the company’s leadership in renewables, with an installed capacity approaching 30,000 megawatts (MW), and its commitment to the reduction of polluting emissions, where intensity is already 75% lower than that of the European utilities average, Galán reviewed the financial and social contributions of the group. The company contributed €32.3bn to world GDP. In Spain the figure was €10.69bn, 1.01% of national product. Iberdrola’s tax contribution reached €7.9bn in 2018, of which €3.6bn are attributable to Spain. The group made purchases to the value of €8bn from thousands of suppliers the world over, of which some €1.7bn went to Spanish companies. Iberdrola continues to be an engine of stable and quality employment. The group creates jobs for over 425,000 people throughout the world, 81,500 of them in Spain. In addition, in 2018 alone, it hired 3,500 new people and took on 1,400 young people in placements, bringing the total number of staff to 34,000 workers. Iberdrola, a benchmark in gender equality Ignacio Galán made special reference to the group’s commitment to gender equality, in line with SDG 5 of the United Nations. Especially relevant on this topic is the approval today by the AGM of the incorporation on the Company Executive Board of the Economics Professor, Sara de la Rica. Her appointment makes Iberdrola the Ibex 35 company with the highest percentage of women on its Board of Directors (42.8%). It means that 50% of its independent executives are now women, including the vice president, Inés Macho and the presidents of two of the four Board committees: Mª Helena Antolín (Appointments Committee ) and Samantha Barber (Sustainable Development Committee ). The General Meeting has also approved the re-election of the following independent board members: Xabier Sagredo, Mª Helena Antolín, José W. Fernández, Denise Holt and Manuel Moreu. READ MORE
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27/03/2019Iberdrola signs a new sustainable credit deal for €1.5bn linked to the UN Agenda 2030 SDGs Iberdrola has successfully concluded the signing of a new multi-currency syndicated loan amounting to €1.5bn and linked to sustainability criteria, within the group's current financing strategy. Specifically, this is the first financing operation linked to point 7 of the UN Agenda 2030 Sustainable Development Goals (SDGs): affordable and clean energy. The company has achieved favourable conditions for this operation, returning to levels prior to the onset of the financial crisis. Specifically, the differential obtained could be up to 23.5 basis points over the Ibor benchmark, compared to 27.5 basis points for the last credit line signed by the company in January 2018. The maturity is five years, with the possibility of extending it by two years, until March 2026. These advantageous conditions are linked to compliance with two sustainability indicators validated by the independent agency Vigeo Eiris. The first is of a social nature and is related to SDG 7.1, which seeks to guarantee universal access to affordable, reliable and modern energy services. Hence, the loan signed today becomes the company's first to be linked to the universal access to energy criteria. This operation is therefore in line with the 'Electricity for All' programme , through which Iberdrola has set itself the goal of bringing electricity to 16 million people who currently lack it in emerging or developing countries by 2030. The second indicator is of an environmental nature and is linked to the installation of new renewable power, in line with point 7.2 of the United Nations Agenda 2030 Sustainable Development Goals (SDGs): to increase substantially the share of renewable energy in the global energy mix. The participants in this credit are 21 financial institutions, all of them relationship banks of the Iberdrola group of different nationalities that support the company in its operations. The new loan was coordinated by BBVA, which has also been a sustainable co-agent together with BNP Paribas. The company thus continues to adapt its liquidity to the investments of €34bn planned for the period 2018-2022 and is fulfilling its commitment to maintain adequate liquidity, in accordance with the group's Strategic Outlook, which sets a liquidity level of between €12bn and €14bn. Iberdrola, a leader in sustainable financing With this new credit operation, Iberdrola continues to advance in its socially responsible financing strategy. Throughout 2018, the company signed the largest sustainable global loan and the first corporate green loan in Latin America. Furthermore, last year Iberdrola undertook all its public bond issuances in this format, as well as all its hybrid placements, a market that the company inaugurated in Spain in 2016. The group was the world's largest green issuer at company level in 2016 and 2017. This commitment to sustainable financing is part of Iberdrola's commitment to meeting the Sustainable Development Goals (SDGs) of the UN Agenda 2030, which the company has integrated into its strategy. In particular, Iberdrola is focusing on objective 7 - affordable and clean energy, and 13 - climate action. READ MORE
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25/03/2019Iberdrola, the Spanish company with the best corporate governance Iberdrola has been awarded Best Corporate Governance (Spain 2019) by prestigious publication World Finance, in recognition for its transparent financial information and good governance practices, highlighting that the company’s Shareholders' General Meeting, convened for 29 March at the Euskalduna Conference Centre in Bilbao, has renewed its certification as a sustainable event. Ignacio Galán, Chairman of Iberdrola, expressed satisfaction with the award, granted for the sixth time[1], and said: “it’s recognition to the continued improvement of our corporate governance system which incorporates best practices and enables corporate board and committees to operate with excellence.” World Finance explained that the Best Corporate Governance Spain 2019 Award responds to “Iberdrola’s advanced decarbonisation philosophy, its transparency and strong corporate governance.” The publication highlighted “Iberdrola’s contribution to the fight against climate change which has steadily evolved over the years and the utilisation of new and industry first technologies such as blockchain. With €34bn to be invested up until 2022 the company’s future looks very bright.” Strategically aligned with the UN SDGs Iberdrola continues to drive economic and social development in the countries where it operates, in line with the UN 2030 Agenda Sustainable Development Goals (SDGs) which the group has incorporated to its strategy and corporate government system. Iberdrola provides direct jobs to 34,000 people – 99% with permanent contracts – and provides some 1.6 million hours of training to its employees throughout the year. In the course of 2018 1,652 new recruits joined the company. The group, which generates 425,000 jobs worldwide[2], recruited some 3,400 news professionals over the past 12 months. In 2018, procurement of goods and services by Iberdrola to thousands of companies across the entire supply chain stood at €7.75 billion, 85% of which were awarded to local suppliers in accordance with the company’s commitment to enrich the social and economic fabric in the areas where it operates. The company continues to advance its ambitious emissions reduction targets: specific emissions in Spain sank to 82 grams of CO2 per kilowatt hour (kWh), as opposed to 302 gr CO2/kWh for the European electricity industry average. On equal opportunity issues, Iberdrola has approved the Board of Directors Diversity and Director Candidate Selection Policy and has become the first Ibex35 blue-chip index company by percentage of women on its Board of Directors, at 42.8%[3]. The finest examples of excellence The World Finance Corporate Governance Awards acknowledge efforts made by organisations to ensure their boards are more diverse and dynamic through long-term strategies. The companies selected by World Finance are better positioned to handle risk, particularly impacts of climate change on their business activities, they are also drivers of excellent environmental, social and governance policies in the world of corporate governance. According to World Finance, in 2019, companies face continued global political uncertainty derived from new scenarios. Boards will therefore have to play a more active role in risk mitigation as a means to reduce costs and adopt a long-term strategy for value creation which includes stakeholders’ demands for social, commercial and environmental justice. [1] Iberdrola received the World Finance award in 2012, 2014, 2015, 2016 and 2017. [2] Direct, indirect and induced jobs [3] Pending ratification by the General Shareholders’ Meeting READ MORE
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22/03/2019Iberdrola finalises the Almaraz renewal agreement, which guarantees economic activity and employment at the plant for the next 25 years Iberdrola has sealed the agreement to renovate the Almaraz plant, which guarantees economic activity and employment at the plant for the next 25 years. The agreement ratifies the validity of the protocol signed between Enresa and the owners of the nuclear power plants, which establishes an orderly closure schedule for the Spanish nuclear portfolio and is aligned with the time horizon foreseen in the Integrated National Energy and Climate Plan (PNIEC). Over recent months the company has been working to define the basis for the renewal of the Almaraz nuclear power plant, allowing it to be operated throughout the period established in the protocol - fixed until 1st November 2027 for Unit I and 31st October 2028 for Unit II - under a framework of reasonable economic viability and with the highest standards of safety and reliability. As part of the agreement, the partners have included a mechanism that, in keeping with the protocol, allows - once the renewal has been requested and the conditions to which it will be submitted are known - analysis, discussion and decision-making in the event of possible alterations to the plant's economic forecasts. Guaranteed activity and employment in Extremadura The agreement gives visibility to the nuclear sector in Spain and guarantees the continuity of the economic activity and employment linked to the plant for the next 25 years, both during the operation of the plant (until 2028) and with the subsequent dismantling works that may extend for up to 15 years. This activity will be reinforced by the investments in renewables that the company has recently announced for Extremadura. Specifically, Iberdrola plans to put in place 2,000 new megawatts (MW) of photovoltaic and wind power in the run up to 2022 in the region, which will place this community at the heart of its renewable strategy in Europe. This new capacity will also include doubling Iberdrola's installed capacity at the Almaraz nuclear power plant. The company is currently building the Núñez de Balboa Solar Park (Badajoz) which, with an installed capacity of 500 MW, is the largest photovoltaic development in Europe. In addition, Iberdrola has a number of other projects at an advanced stage of development in Extremadura, including the Ceclavín, Arenales and Campo Arañuelo I and II plants. The company's commitment is part of its plan to promote renewable energies in Spain, where the company will invest 8 billion euros between 2018 and 2022 and will commission 10,000 new megawatts in the run up to 2030, as announced in the recent update of its Strategic Outlook in London. READ MORE
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19/03/2019Iberdrola's General Shareholders Meeting renews its certification as a sustainable event for three years The Iberdrola Shareholders' General Meeting, convened for 29 March at the Euskalduna Conference Centre in Bilbao, has renewed its certification as a sustainable event for three years. In 2016, the company became the first of the Ibex 35 companies to obtain this recognition and now also becomes the first to renew it. What this means is that all the processes involved in the Shareholders' General Meeting, Iberdrola’s top governing body, right from the planning to the event itself and then dismantling it, are carried out based on sustainable criteria, with the aim of maximising the company’s contribution to the local economy and improving the environment and social well-being. This has led to AENOR certifying that the company’s Shareholders' General Meeting meets the requirements of the ISO 20121 voluntary international standard for sustainable event management. In addition, through Ihobe, its public environmental agency, the Basque Government has awarded the Group’s 2019 Shareholders' General Meeting the ‘Erronka Garbia’ seal of environmental approval, which certifies the company’s exemplary conduct in key aspects of environmental sustainability when organising the event so as to maximise the positive impacts that it can generate. These certifications are a response to Iberdrola’s Sustainable Management Policy , which establishes, among other aspects, that the Group events must scrupulously comply with all applicable requirements (especially the laws on health and safety, noise, waste, privacy and personal data protection) and promote accessibility, inclusion and non-discrimination in their planning and execution. Objectives and measures for a sustainable Shareholders' General Meeting With particular reference to the Shareholders' General Meeting, Iberdrola has therefore set the following objectives: * To ensure the event is accessible to each and every member of its workforce. * To minimise the event’s carbon footprint and energy consumption. * To improve employment opportunities for people who experience discrimination or are from vulnerable backgrounds. * To increase the reuse of the waste generated by the Shareholders' General Meeting. * To minimise the indirect environmental impact - environmental footprint - of the event. * To encourage cooperation with the local community. * To improve communication and participation throughout the event. * To increase awareness of sustainability among everyone involved. * To promote cultural heritage throughout the event. In order to achieve these goals, Iberdrola will be implementing more than 85 specific actions. These will include guaranteeing the accessibility of groups with different abilities (through the use of subtitles and the deployment of magnetic loop systems to aid hearing); promoting sustainable transport by allowing the people of Bilbao to travel free on the tram on the day of the event; compensating for the CO2 emissions generated by holding the Shareholders' General Meeting; and using recyclable and reusable materials. In addition, vulnerable people will be hired to help at the event and equal male and female employment opportunities will be promoted by recruiting, as far as possible, the same proportion of stewards and stewardesses. READ MORE
