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31/01/2019Her Majesty Queen Letizia awards Iberdrola Scholarships to mark ‘Iberdrola Talent Day’ Today, Her Majesty Queen Letizia, accompanied by Spain’s Minister for the Ecological Transition, Teresa Ribera, and the Chairman of Iberdrola, Ignacio Galán, presented 97 master's degree and research grants that the company awarded for the current academic year 2018-2019. In this edition, the company has allocated nearly €3 million to its master’s degree and research grants benefiting graduates from 10 countries, including United Kingdom, United States, Mexico, Brazil, Spain, Italy, Hungary, Holland, Germany and the Czech Republic. Ignacio Galán thanked the support of Her Majesty Queen Letizia to the “new generations tasked with transforming today’s reality into a more global and fair world with greater solidarity”. For the Chairman of Iberdrola, it is essential that talented graduates contribute to building a more sustainable world through the protection of the environment and biodiversity, ‘just as purposeful as the Ministry for the Ecological Transition is doing under the leadership of Minister Ribera.” Iberdrola has strengthened its links to academia through resources and activities aimed at rewarding talent and the transfer of knowledge. In addition, it supports skills training of young professionals and the creation of quality and stable jobs. "We are proud to have contributed, over the past five years alone, to the training of nearly 4,000 university graduates; 4,000 stories of endeavour and success," said Ignacio Galán. Also, the Chairman of Iberdrola announced the call for applications to 75 new scholarships and research grants for the academic year 2019-2020 which opens tomorrow. To close his speech, Galán offered young graduates this advice: "Be brave. Take risks.” With its support for universities, research and knowledge, Iberdrola continues to advance in the fulfilment of the United Nations Agenda 2030 Sustainable Development Goals (SDGs) The company focusses its efforts on the supply of affordable and clean energy (Goal 7) and on climate action (Goal 13) whilst also contributing directly to quality education (Goal 4), ensuring clean water and sanitation (Goal 6), increasing its investment in R&D+I activities (Goal 9), promoting respect for the life of terrestrial ecosystems (Goal 15) and working to establish partnerships to achieve the goals (Goal 17). Iberdrola U: Iberdrola’s universities programme Through the Iberdrola U Programme , the company has signed partnership agreements with six outstanding institutions of learning: the Comillas Pontifical University, University of Salamanca, University of Strathclyde, Monterrey Institute of Technology, Massachusetts Institute of Technology (MIT) and Hamad Bin Khalifa University in Qatar, reaching more than 200,000 members of the education community. The company also seeks to promote quality in education, technology transfer and the universal provision of energy services through different professorships with universities such as the Iberdrola-AVANGRID professorship at the Massachusetts Institute of Technology (MIT), the Eighth Centenary Iberdrola professorship at the University of Salamanca and the Iberdrola Economic and Business Ethics professorship recently signed with the Comillas Pontifical University. Iberdrola U is backed up with the Iberdrola Alumni internship programme and support for R&D&I projects. Through the €70 million Iberdrola Perseo International Start-Up Programme , the company is seeking disruptive energy industry ideas to invest in new companies that provide innovative and sustainable solutions. 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 €110 billion, it posted revenues of over €31.263 billion and a net profit of €2.804 billion in 2017. 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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24/01/2019Galán in Davos: “The cost of decarbonisation is significantly lower than the risk of inaction” Davos, Switzerland. “The cost of decarbonisation is significantly lower than the risk of inaction” argued Ignacio Galán this morning during a panel debate at the World Economic Forum in Davos. Galán, a regular at the Forum’s annual meeting, said “the good news is that the necessary technologies to deliver this transformation – renewable energy sources – are readily available at a competitive cost.” “Companies are ready to invest in the energy transition and banks are ready to finance sustainable infrastructure – Galán continued. We just need to eliminate the barriers to decarbonization and a fair allocation of all related costs.” To this effect, he emphasised the importance of applying the ‘polluter pays’ principle which should imply “the elimination of all subsidies to carbon-intensive technologies which amounted to 300 billion euros last year; setting a price on carbon emissions to drive technology change; stimulating innovation and investment in low-carbon technologies while spreading the costs among the different industries in a consistent way.” The Chairman of Iberdrola stressed that the transformation “will generate significant benefits to society at large, not just in environmental terms. It will also help to reduce energy dependency, strengthen security of supply, bring electricity prices down and, more importantly, improve health and quality of life.” Also, Galán highlighted that this process will serve to “prop up economic growth while revitalizing industry and providing new, stable and quality jobs for all.” According to the International Labour Organization for each job lost in the transition, four new jobs will be created in industries such as renewables, electric mobility and sustainable buildings. As an example, Ignacio Galán mentioned the recent energy and environment announcements by the Spanish Government which will create over €235 billion of investment opportunities in the coming years. In this regard, Galán added that “Iberdrola’s track record over the past 20 years is proof that our commitment to fighting climate change no only benefits the environment but also our shareholders and the society in general.” About Iberdrola Iberdrola is a global energy leader, the main wind power producer and one of the world’s largest electric utilities by market capitalization. The Group operates in many countries and supplies power to nearly 100 million people, mainly in Spain, the United Kingdom (ScottishPower), the United States (AVANGRID), Brazil (Neoenergia) and Mexico. With a workforce of 34,000 people and assets worth €110 billion, it filed a turnover of €31.2 billion and a net profit of €2.8 billion in 2017. Iberdrola leads the energy transition towards a sustainable 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, it is one of the companies with the lowest emissions and an international benchmark for its contribution to the fight against climate change and the sustainability of the planet. READ MORE
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22/01/2019Iberdrola, named as one of the world's 100 most sustainable companies Iberdrola has been named as one of the world's 100 most sustainable companies according to the Global 100 Most Sustainable Corporations in the World index published annually by Corporate Knights. The results of this 15th edition were announced this morning in Davos, as part of the World Economic Forum meeting which is held annually in this Swiss locality. The main conclusion of this ranking is that "committing to a sustainable model produces the same or better returns for investors and improved longevity for companies" according to Corporate Knights. Proof of this is that in profitability terms the Global 100 Index performed better throughout 2018 than other indices such as the Ibex 35 or the Eurostoxx 50. On this subject, Iberdrola's director of Innovation, Sustainability and Quality, Agustín Delgado, has recalled how the model followed by the company is proof of the good results derived from commitment to long-term sustainable growth : “Following our commitment in 2001 to clean energy, smart grids and storage, we have gone from occupying the 20th place in the world ranking of electricity companies by market capitalisation to today becoming the 4th, and the 1st totally private one in Europe. Likewise, we have multiplied our asset base sixfold and tripled our net profit, which has allowed us to progressively increase our dividends, in line with results." The Global 100 Most Sustainable Corporations in the World ranking starts with an analysis of 7,500 companies with revenue in excess of one billion dollars, and is finally whittled down to 100 companies from 21 countries — mainly North American and Western European — in 30 areas of activity. To produce the list, the organisation assesses aspects such as the relationship between revenue and tonnes of CO2 emitted and the percentage of women on the Board — 36% in Iberdrola's case. Also important is the ‘clean revenue’ aspect, introduced into the methodology last year which makes up 50% of the company score. This concept measures the percentage of revenue from products and services that have clearly-defined environmental or social benefits. The inclusion in the Global 100 Most Sustainable Corporations in the World once more demonstrates the commitment of Iberdrola to the Sustainable Development Goals (SDGs) of the UN Agenda 2030. The company focusses its efforts on the supply of affordable and clean energy (Goal 7) and on climate action (Goal 13) whilst also contributing directly to ensuring clean water and sanitation (Goal 6), increasing its investment in R&D&I activities (Goal 9), promoting respect for the life of terrestrial ecosystems (Goal 15) and working to establish partnerships to achieve the goals (Goal 17). In addition to the Global 100 Index, Iberdrola is also part of other important sustainability indexes , such as the Dow Jones Sustainability Index (DJSI), the FTSE4 Good and the MSCI Global Sustainability Index Series. 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 €110 billion, it posted revenues of over €31.263 billion and a net profit of €2.804 billion in 2017. 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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21/01/2019Iberdrola launches the Cavar Complex project to boost its investment in wind power in Spain Iberdrola is launching the Cavar Complex project to boost its strategy of investment in wind power in Spain in 2019. Consisting of four wind farms with an installed capacity of 111 megawatts (MW), this project is one of the largest wind farms developed in Spain by the energy supplier in recent years. It is a joint initiative by Iberdrola and Caja Rural de Navarra. The companies have just placed an order with Siemens Gamesa for 32 of its SG 3.4-132, 3.4 MW unit power wind turbines, the largest used to date in a land-based wind farm in Spain. With blades measuring 64.5m and a rotor diameter of 132 m, this is the ideal model for sites with medium and high winds. All four wind farms are in the Cadreita and Valtieera municipal areas. Building will start within a few months and the facilities are expected to go into service in 2020. The wind farm complex will generate enough energy to power 46,500 households/year and, because this is renewable energy, it will prevent emissions of 84,000 tonnes of CO2 every year. Bilateral contracts Cavar is the first wind project developed by Iberdrola in Spain which part of the output will be sold through long-term bilateral agreements. During last year, the company has entered into long-term bilateral Power Purchase Agreements (PPAs)* in Spain with Kutxabank , Euskaltel and Uvesco , associated to the Núñez de Balboa photovoltaic project which is under construction in Extremadura. It has been using this same formula for years in the United States and Mexico. Spain’s leading wind power developer The Cavar complex is evidence of Iberdrola’s strong commitment to renewables in Spain, where it is to start work on 700 MW of wind and photovoltaic projects this year. It leads wind power development in the country. This is in addition to a further 2,000 MW renewables worldwide (wind, photovoltaic and hidroelectric) planned by the group for 2019. As things stand, Iberdrola’s renewable installed capacity, mainly wind and hydro-electric, totals more than 15,800 MW in Spain and more than 29,500 MW worldwide. These projects enable the company to contribute to the development of rural areas, fostering employment of local people and driving economic activity in the communities where it operates, as well as spurring the energy transition towards a decarbonised economy as a strategy against climate change. 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 €110 billion, it posted revenues of just over €31.26 billion and a net profit of €2.8 billion in 2017. 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 the sustainability of the planet. Iberdrola forms part of numerous international sustainability indices, among them the Dow Jones Sustainability Index and FTSE 4Good, and is considered one of the most sustainable electricity companies in the world. * The term PPA stands for Power Purchase Agreement and designates long-term power supply agreements that provide stability for investments made by energy providers whilst guaranteeing a renewable energy supply for major consumers at competitive and predictable prices. It is a formula that helps to meet sustainability targets and aids in the fight against climate change. READ MORE
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16/01/2019Iberdrola is once again the only Spanish electricity company included in the 'Bloomberg Gender Equality Index' Iberdrola has been included for the second consecutive year in the ‘Bloomberg Gender-Equality Index (GEI) , prepared by Bloomberg. The company is thus, once again, the only Spanish electricity company present in this report, which honours companies committed to transparency in information on gender issues and progress in equality between women and men. The GEI has doubled in size in this second year and includes 230 companies from 36 countries and 10 sectors, with a combined market capitalisation of USD 9 billion and more than 15 million employees around the world, seven million of whom are women. Iberdrola's inclusion in the 2019 GEI is the result of an evaluation of the company's performance in four major areas: gender statistics, policies, community engagement and products. Within these categories, Bloomberg analyses aspects such as the presence of women on the Board of Directors (Iberdrola is one of the Ibex 35 companies with the highest percentage of female directors), family care (the group has more than 70 measures that promote work-life balance ), awareness-raising programmes (the company has recently developed a campaign against gender violence with the Spanish Government's Ministry of the Interior) and products that encourage support for women. The company's commitment to gender equality has also earned it the 'Best in Class' rating in 30 GEI sections, including: * Number of women on the Board of Directors. * Percentage of women on the Board of Directors. * Minimum paid period for maternity leave. * Return to work programme. * Assistance for care. * Other assistance for family care. * Flexible working hours. * Presence of women on different programmes. * Female recruitment strategy. * Gender diversity requirement for candidates for management positions. * Goals for senior managers. * Health education programmes for women. * Lobbying for gender equality. * Membership of gender equality organisations. * Donations to gender equality organisations. * Recruitment of women returning to working life. Among the conclusions of the 'Gender Equality Index', under the heading 'Breaking the glass ceiling', the following stand out: the percentage of female executives has increased by 40% between 2014 and 2017 and the global average for women on Boards has doubled. The report also notes that, within the companies surveyed, 43% of promotions made in 2017 were women. In the case of Iberdrola, the percentage of women in executive positions is widening. The group also has a non-executive vice-president, Inés Macho Stadler , and more than 200 female directors in charge of strategic areas such as the renewable business, global taxation, European affairs, internal audit and compliance, among others. Iberdrola is, thus continuing to contribute to the fulfilment of the UN Agenda 2030 Sustainable Development Goals (SDG) , which it has integrated into its strategy. While the company is focused on Goals 7 and 13 (affordable and clean energy and climate action) this type of practice allows it to also move towards number 5, gender equality. 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 €110 billion, it posted revenues of over €31.263 billion and a net profit of €2.804 billion in 2017. 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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15/01/2019Europe’s major Green Bond Issuers launch the Corporate Forum on Sustainable Finance Iberdrola has joined with 15 other European companies (EDF, EDP, ENEL, ENGIE, Ferrovie Dello Stato Italiane, Icade, Ørsted, RATP, SNCF Réseau, Société du Grand Paris, SSE, Tennet, Terna, Tideway, Vasakronan) to set up the Corporate Forum on Sustainable Finance. The initiative comes one year after the Paris Green Bond Pledge, published to mark 2017 Climate Finance Day. The Forum, designed as a permanent network for exchanging views and ideas, brings together dynamic “Green Issuers” committed to upholding and developing sustainable finance as a critical tool to fight climate change and to foster a more sustainable and responsible society. The founding companies – involved in a number of industries including electricity utilities, clean transport infrastructures and operations, environmental infrastructures and services, and real estate — aspire to contribute more towards the development of a broader set of financial market instruments under the umbrella of sustainable finance such as green and sustainable bonds and loans, credit facilities as well as other sustainable financing tools recognizing the sustainability of their issuers’ business model. Representing over two-thirds of green and sustainable bond volumes issued by European corporations, the Forum regards sustainable finance instruments as efficient market-based tools that allocate the economic resources where they are most needed, particularly to low-carbon and sustainable investments, which are central to the members’ corporate strategies. Today, we join our voices to expand the commitments sealed in 2017 in order to: * more-deeply integrate the notion of sustainability in the financial strategies of our respective companies; * work with investors to spur the development of a more sustainable economy through innovative financing instruments; * increase corporate presence in international and national forums shaping the development of sustainable finance markets; * actively participate in the processes setting the future standards and regulatory frameworks for sustainable finance instruments; * leverage on our mutual expertise and promote best practices on impact reporting; * discuss with rating agencies about more-deeply integrating SRI criteria in the assessment of companies’ long term financial sustainability. Sustainable finance is an exciting journey for both issuers and investors. It is going to become an increasingly prominent issue with investors quickly adapting to these new trends and willing to allocate capital on sustainable initiatives. As such, the Forum is an opportunity to put business at the forefront of the low carbon and sustainability transition. READ MORE
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13/01/2019Iberdrola uses blockchain to guarantee that the energy it supplies to consumers is 100% renewable Iberdrola has completed a project that will contribute to accelerating the decarbonisation process by using blockchain technology to guarantee that the energy supplied to the consumer is 100% renewable. This first experiment to guarantee the renewable origin of the energy supplied, was done with the financial entity Kutxabank, which was able to track, in real time, the origin of the energy supplied by Iberdrola from the generation asset to the point of consumption. The renewable energy was generated in the Oiz (Biscay province) and Maranchón (Guadalajara province in the Castile-La Mancha region) windfarms and the San Esteban hydroelectricity plant (Orense province in the Galicia region). The clean energy from these assets was then consumed at the headquarters of Kutxabank in the Basque Country and Cajasur in Córdoba. Traceability, immediacy and cost savings Blockchain technology is an efficient way of allocating which assets will supply energy to a specific point of consumption, and can even be used to establish a hierarchy of priorities when it comes to sources of origin. It also eliminates intermediaries as it uses smart contracts which automatically come into effect when both parties fulfil their side of the agreement, simplifying the process, eliminating costs and improving privacy. With this initiative, renewable energy certification processes are accelerated and automated, certification is given a greater degree of traceability, and the transaction is made more transparent and secure, as it is permanently registered on the platform so that both parties can audit the results. According to Iberdrola, “this innovation shows us that it is a crucial catalyst in the process of decarbonising the economy, allowing traceable, secure and rapid transactions. In this case, the supply of green energy is more efficient, flexible and transparent, which incentivises the production and consumption of 100% renewable energy”. For Kutxabank, it is “a new opportunity to keep advancing in the sustainability criteria which guide our activity, as we have spent years developing multiple actions, both directly and indirectly, to minimise our environmental footprint. New technologies are proving to be a powerful ally when it comes to improving knowledge about the source of the energy we consume as we aspire to become completely renewable in the near future”. To carry out this initiative, Iberdrola was supported by Energy Web Foundation, a scaleable, open-source blockchain platform designed for the regulatory, operational and market needs of the energy sector. It has also designed a user-friendly web environment which lets customers view data on the process and identify which plants the green energy they consume comes from. Green energy and big companies Guaranteeing the renewable origin of energy is critical for long-term PPAs (power purchase agreements), associated with the growth of the corporate green energy market. In July, Iberdrola and Kutxabank entered into a long-term PPA for the supply of electricity from renewable assets. In this case, the energy will be supplied from the Núñez de Balboa solar plant that Iberdrola is building in Extremadura—the largest solar project in Europe. Blockchain initiatives Iberdrola has implemented several initiatives using blockchain. For example, the company is participating along with other companies in the sector in a project to try out blockchain-based transactions in wholesale energy and natural gas markets. This initiative allows peer-to-peer transactions to be carried out without the need for intermediaries. These agents will buy and sell energy directly, without a regulated market, and their transactions will be registered on the platform anonymously and in encrypted form to be verified by other operators. In its distribution business, blockchain initiatives are mainly aimed at certifying information about network events with the potential to have an impact on customers. This is a big step forward not only in the network digitisation process, but also in areas of service quality and customer service. 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 €110 billion, it posted revenues of just over €31.26 billion and a net profit of €2.8 billion in 2017. 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 the sustainability of the planet. Iberdrola forms part of numerous international sustainability indices, among them the Dow Jones Sustainability Index and FTSE 4Good, and is considered one of the most sustainable electricity companies in the world. READ MORE
