Noticias
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07/03/2024ScottishPower extends its Sponsorship of Women's Football in Scotland Iberdrola's UK subsidiary , ScottishPower, has extended its commitment to women's football to the Highlands and Islands regions. The leading renewables company becomes the title sponsor of the SWF league – a competition open to Women's and Girls' grassroots football clubs in the Highlands and Islands regions. You can read the full story in the ScottishPower Press Room page . READ MORE
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07/03/2024Iberdrola launches an offer to acquire 18.4% of its US subsidiary Avangrid Iberdrola has launched an offer to acquire 18.4% of the capital of its US subsidiary, Avangrid. As reported by the company to the National Securities Market Commission (CNMV), the company is offering $34.25 per share, which represents a premium of approximately 10% compared to the weighted average share price of the last 30 days. Currently, Iberdrola already owns approximately 81.6% of the US company. This price represents an investment of $2.48 billion for Iberdrola – about €2.28 billion at the current exchange rate. The objective of this transaction is to increase exposure to the networks business in the United States at a key time for Iberdrola, which wants to grow in markets with high credit ratings and in regulated businesses such as networks. Headquartered in Connecticut, Avangrid currently has $44 billion in assets and operations in 24 U.S. states. It has two main businesses areas: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas companies, serving more than 3.3 million customers in New York and New England. Through its renewable energy business, Avangrid owns and operates a portfolio of renewable energy generation facilities throughout the United States. Today, the company has 8,000 employees. In 2023, the company posted adjusted gross operating profit (EBITDA) of $2.43 billion, up from $2.246 billion a year earlier. READ MORE
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06/03/2024Avangrid obtains environmental impact statement for offshore wind development New England Wind Iberdrola's subsidiary in the United States , Avangrid, has obtained the final environmental impact statement from the country's Bureau of Ocean Energy Management (BOEM) for the development of a new offshore wind facility, New England Wind. The area, which lies about 20 nautical miles south of Martha's Vineyard in Massachusetts, has the potential to install 2,000 MW of clean, reliable energy, enough to power a million homes and businesses in the area. You can read the full story in the Avangrid Press Room . READ MORE
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05/03/2024Iberdrola, the Only Spanish Company in the Ranking of the World's Most Ethical Companies Iberdrola has been selected for the eleventh consecutive year as one of the most ethical companies in the world, according to the World’s Most Ethical Companies ranking, prepared by the Ethisphere Institute, a leading organisation in defining standards of good business practices. Iberdrola continues to be the only Spanish company in this ranking and is one of the eight companies included in the Energy and Utilities category, which also includes its subsidiary in the United States, Avangrid. With the publication of this index, the Ethisphere Institute recognizes since 2007 those companies that promote positive change in the global business community and that take into account the impact of their activities on their employees, customers and other stakeholders, while fostering a culture of integrity and values in their decision making. The companies included in this index stand out for their ethical practices, promote the highest international standards of compliance, and demonstrate high levels of stakeholder engagement and commitment to transparency, diversity and inclusion. To compile the World's Most Ethical Companies ranking, the Ethisphere Institute analyzes 200 indicators in terms of governance, leadership and reputation, compliance, ethical culture and social and environmental impact. In this new 2024 edition, a total of 136 companies from 20 countries and 44 productive sectors have been recognized and included in the list. This ranking is also a key tool for investors, who take ESG (environment, Society and Governance) criteria into account in their decisions. Committed to the highest ethical standards Iberdrola's Governance and Sustainability System is inspired by and based on a commitment to ethical principles, transparency and leadership in the application of international best practices, and revolves around three main vectors: environmental, social and corporate governance. In order to give effect to the highest ethical standards established in its Governance and Sustainability System, the company has a Compliance System that seeks to ensure that it acts in accordance with ethical principles and applicable legislation, and to prevent misconduct of any kind. READ MORE
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04/03/2024Iberdrola ranks among the top 100 companies worldwide in gender equality Iberdrola is one of the 100 companies included in the 2024 gender equality report and ranking prepared by Equileap, a leading organisation dedicated to promoting gender equality and diversity and inclusion in the corporate world. This firm evaluates 3,795 listed companies in 27 markets and representing more than 100 million employees. Thus, Equileap values the efforts being made by the electricity company chaired by Ignacio Galán in favour of gender equality. The aspects it evaluates include the presence of women at different levels of the company, salaries, social benefits, human rights, training and protection of employees in terms of diversity, among others. Iberdrola's inclusion in this index is in addition to its presence and high score achieved by Iberdrola in the main international sustainability indices, including the Dow Jones Sustainability Index, CDP, Moody's ESG, MSCI, FTSE4Good, Sustainalytics, ISS-ESG, Bloomberg GEI and EcoVadis, among others. Leader in sustainability In recent years, Iberdrola has consolidated equal pay between men and women and supports gender diversity not only in its Board of Directors, but also in its management positions. Increasing their presence is an objective that forms part of the company's strategic plan. Since 2013, Iberdrola has become one of the companies with the highest percentage of female directors among Ibex companies. It has 50% independent female directors on its Board of Directors and has set itself the goal of increasing the presence of women in management positions to reach 30% by 2025. Iberdrola has incorporated the Sustainable Development Goals (SDGs), defined by the United Nations for the 2030 horizon, into its business strategy and sustainability policy, and is a benchmark for its direct contribution to the global goals, highlighting its contributions in the field of energy and climate change. The company focuses its efforts on the supplying affordable and clean energy (goal 7) and on climate action (goal 13), Iberdrola contributes directly to ensuring clean water and sanitation (goal 6), and has increased its investment in R&D&I activities (goal 9). The company also promotes a sustainable use of terrestrial ecosystems (goal 15) and works to build partnerships to achieve the goals (goal 17). READ MORE
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01/03/2024His Majesty the King of Spain awards the Iberdrola training grants for the development of 'green jobs' His Majesty the King of Spain, accompanied by the Executive Chairman of Iberdrola, Ignacio Galán, took part in a day of support for young talent and excellence, during which he presented the Scholarships corresponding to different training programmes promoted by Iberdrola and its Foundation in Spain for 2023-2024. During the event, Galán thanked His Majesty the King for presiding over this event with which "every year we add 1,300 young people to our efforts to transform the energy sector, generate more industry and quality employment". "We want to invite the new generations to lead this change for the better and Iberdrola's model can help to achieve this", he said. This morning, men and women who are examples of success in different fields took the floor to share their experiences after receiving training thanks to the company's Master's scholarships and through the Impulsa Programme, the Electricians' School and the agreement signed between the electricity company and UNICEF, among others. Finally, the beneficiaries received from His Majesty the King the certificate certifying the award of the different grants launched by Iberdrola with the aim of promoting talent and encouraging excellence in the training of new generations. These are the programmes: * Iberdrola International Master's Scholarship Programme: with the current call for applications for Spain (9 scholarships); United Kingdom (14 scholarships), Brazil and Mexico, young people will boost their professional careers thanks to this line of financial aid. They will complete their postgraduate training at prestigious universities with future professional opportunities. * The 'Energy for Future' postdoctoral research programme (11 grants) benefits postdoctoral researchers for five years who will develop their work on technologies associated with the energy transition (photovoltaic and wind energy, electric vehicles, energy storage and smart grids) in collaboration with prestigious universities in Spain, the United Kingdom, Germany, France, the United States and Mexico. * The Fulbright Commission Scholarships (2 scholarships), a line of postgraduate scholarships in the United States in fields related to Iberdrola's activities in energy, environment and technology. * Scholarships awarded in collaboration with the Carolina Foundation (10 scholarships), a programme of postgraduate scholarships in Spanish universities to further the studies of university graduates from Latin America in subjects related to energy and climate change. * The Restoration Training and Research Scholarships with the Bilbao Fine Arts Museum and the Prado (5 scholarships) for young restorers in these internationally renowned art galleries. In addition, His Majesty the King also awarded certificates for: * STEM Development Grants (5 grants) to train young graduates or professionals so that they can have a positive impact on students from socio-economically vulnerable backgrounds. * The ICAI Scholarship programme (10 scholarships), aimed at financing university studies related to the energy sector for students with limited financial resources; and * Scholarships developed together with the Spanish Paralympic Committee (13 scholarships), aimed at facilitating the professional training of sportsmen and women with a view to their integration into the labour market once their career in sport is over. Furthermore, in a firm commitment by the Iberdrola group to promote young talent, 468 places have been offered in the three calls of its International Graduate Programme (2021-2023). At this event, certificates will also be awarded to 14 representatives of the group of graduates of the 2022 edition. On the other hand, and as sign of Iberdrola's interest in training young people, in 2023 the company has incorporated 1,011 young trainees who have been able to take their first professional steps in a leading company in the energy sector and develop new skills and abilities that will help them to boost their future employment. In this regard, more than 30,000 young people have joined Iberdrola in the last decade, some of whom did so thanks to a scholarship and are already occupying important positions in the company. In addition to the young scholarship recipients, the event was attended by the writer Espido Freire and the Spanish astronaut, Sara García Alonso. The event was attended by the Minister of the Interior, Fernando Grande-Marlaska; the ambassador of the United Kingdom of Great Britain and Northern Ireland in Spain, Hugh Elliot; the ambassador of the Federative Republic of Brazil in Spain, Orlando Leite, as well as members of Iberdrola's Board of Directors and executives. Iberdrola continues to have a pull effect on thousands of suppliers with its investments and purchases of around 18,000 million euros, with which it supports more than 400,000 jobs throughout its value chain. Moreover, through this activity, the company has contributed more than 9.3 billion euros to the public coffers in 2023. In the company, talent is promoted, attracted, identified and managed in different processes and programmes managed through its Foundation in Spain and its Talent area . READ MORE
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29/02/2024The 1st Sustainable Legal Advice Forum is born with the support of Iberdrola, Inditex, Santander and Telefónica The first Forum of Sustainable Legal Advice promoted by Iberdrola, Inditex, Santander and Telefónica was held today at the Iberdrola Campus in San Agustín de Guadalix. The Forum aims to create a space for the legal sector of large companies to reflect on legal and sustainability issues under ESG (Environment, Social and Governance) criteria. The event brought together the legal departments of four large IBEX35 companies together with the country's leading law firms, law schools, business schools, as well as legal advice from other companies. This forum is the first event of its kind to be certified as a sustainable event by the accreditation company AENOR. This is a new initiative that aims to consolidate a permanent forum of reference for debate and a meeting point in the Spanish legal sector on issues of common interest as well as to share experiences in the creation of best practices in in-house legal advice within the sustainability strategy of the companies to which they belong. Sustainability, in the broadest sense of the term, is a determining factor in the competitiveness of companies and their long-term growth potential. Society values these commitments, which are also necessary for the preservation of nature and the fight against climate change; responsibility and commitment to people and society, as well as to compliance and development of regulations. Legal advice incorporates the concept of sustainability to contribute, from the legal field, to the sustainability strategies of their companies. Sustainable governance also requires, among other priorities, that all legal service providers comply with sustainability policies and are aligned with the culture of their clients. The legal advisors of the future are improving their work and information systems with the use of technology and the digitisation of their decision-making processes and establishing reporting schemes that include ESG criteria. This culture has an impact on the profile of the lawyer of this new era, who, in addition to their advice, seeks to generate a positive impact on society and collaborate with the social and sustainable strategies of their companies. For Santiago Martínez Garrido, Iberdrola's General Secretary and Secretary of the Board, "the challenges of sustainability and digitalisation of the current era require companies like Iberdrola – which have the technological capacity to do so – to be the drivers of a necessary and essential change to achieve carbon neutrality. For this, those who have the capacity to implement it are the most responsible. Legal advisors cannot be left out. From Iberdrola's General Secretariat, we are promoting more than 25 projects and among them I would like to highlight the digital transformation projects and the probono programme that we have been developing". For Javier Monteoliva, General Secretary and Secretary of the Board of Inditex, "sustainability is deeply rooted in Inditex's business model. For more than 20 years we have been adapting the company to consider the impact of each process, with the Legal Department providing coverage and integrating itself in all the initiatives of our company to advance towards an increasingly sustainable value chain. It is a challenge that we face today through innovation and collaboration – both among our different teams and with many other actors, suppliers, partners...". Jaime Perez Renovales, Santander’s General Secretary and Secretary of the Board, said: "The role of legal advisors in the Bank's sustainability strategy is increasingly relevant; both because of the increased regulation in this field, as well as the fragmentation and sometimes disparity of ESG regulations. The increasing use of technology is enabling us to accelerate the transformation needed to improve the response to new challenges, and to implement much more efficient processes so that there is an exponential improvement in our performance as lawyers. This enables legal teams to deliver value to the business and optimally manage legal risk." Pablo de Carvajal, Secretary General and Secretary of the Board of Directors and Global Head of Regulation at Telefónica, stated: "Sustainability has been a cross-cutting commitment at Telefónica for 20 years which, aligned with the SDGs in its three levers, allows us to link business success and growth to the well-being of the planet and society. The relationship between digital transformation and sustainability is clear. For this reason, at Telefónica's legal department we are proud of our firm commitment to legal digital transformation – a lever for improving the efficiency, quality and accessibility of legal services. This has crystallised in our 360 LegalX tool, to which we are now looking to incorporate generative AI. We were one of the first companies to provide ourselves with ethical guidelines for AI, which will, without any doubt, also guide our in-house lawyers in its application". Likewise, the British think-tank RSGI, which participated in the Forum with an inspirational talk, applauded the initiative of these four companies for the innovative concept of sustainable legal advice. They also highlighted the importance of events of this type to boost the commitment of these areas in their contribution to the sustainability strategy of the companies in which they work. The law firms participating in the roundtables were Écija, Allen&Overy, Clifford Chance, Garrigues, Uría Menéndez, CMS, Cuatrecasas, Pinsent Masons and Adarve, who stressed that compliance with ESG criteria is a priority objective for the firms. Commitment to sustainability In this first edition of the Forum, the participating companies and law firms have confirmed their commitment to sustainability, through the monitoring of ESG criteria in the development of their activity, including the application of measures that reduce environmental impact – with special emphasis on the use of technology. Especially, by promoting the digitisation of work processes and methodologies related to the key functions of legal advice. From an environmental point of view, they have also set out the roadmap for the sustainable and efficient use of resources used by the legal profession in accordance with the sustainability plans and strategies implemented by the companies to which they belong. Especially with the implementation of measures that contribute to the reduction of the carbon footprint. On the social side, we are committed to diversity, equity and inclusion measures in our work teams. We promote professional progress and encourage the involvement of professionals in activities with a social impact in order to make legal value available to society. In terms of governance, sustainability and compliance with ESG criteria for stakeholders were discussed, with special emphasis on the evolution of shareholder involvement in the life of the company and the different channels of permanent information. They also discussed the need to address a model of general meetings in line with the possibilities offered by technology. __ The 1st Sustainable Legal Advice Forum is the first event of its kind to be certified as a sustainable event by the accreditation company AENOR. Iberdrola is a pioneer in the management of sustainable events: in 2016 it became the first IBEX 35 company to certify the General Shareholders' Meeting as a sustainable event – in accordance with the ISO 20121:2012 standard –, extending the scope in 2022 with the Results Presentations and the Capital Markets & ESG Day. READ MORE
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27/02/2024Iberdrola strengthens its presence in Italy and will build the largest solar plant in the country Iberdrola has signed an agreement with IB Vogt for the construction of a 245 MW photovoltaic project in Sicily, to which a further 60 MW could be added, bringing the total to 305 MW. In any case, the initial project has sufficient capacity to cover the needs of more than 140,000 families with emission-free green energy, which is a population similar to that of Catania. The project, called Fenix, will start construction in March and will mark an unprecedented event in the Italian energy landscape as the largest photovoltaic project under construction in the country. Italy currently has only 60 plants of more than 10 MW, and the average project is 26 MW. When operational, with its 424,638 photovoltaic modules, the plant will generate around 400 GWh per year, avoiding the emission of 119,000 tonnes of CO2 into the atmosphere. In addition, it is expected to create direct local employment for around 500 workers during the construction phase and more than 100 permanent jobs during the commercial operation phase. The agreement for the construction of Fénix consolidates Iberdrola's growth in Italy and its contribution to the country's energy security. In addition, this type of facility supports the decarbonisation path of large industrial customers through the supply of renewable energy through the sale of long-term power contracts. "This is a further step in Iberdrola's growth in Italy," says Valerio Faccenda, Country Manager of Iberdrola Renewables in Italy, who highlights how the company "has undoubtedly laid a solid foundation to achieve the 2030 and 2035 targets, with a 100% renewable portfolio of more than 115 wind, photovoltaic and storage projects in advanced stages of development with a total capacity of 5 GW". Strong presence in Italy In 2022, Iberdrola commissioned its first 23 MW PV plant in Italy, in Montalto di Castro, Lazio. In the same region, the company completed its second 7 MW solar plant in Montefiascone in 2023 and began construction of another 32 MW solar plant in Tarquinia. In addition to the Fenix project, two other solar plants, Limes 10 and Limes 15, of 18 MW and 36 MW respectively, will start construction in the first half of 2024, while three other projects are planned for the second half of the year and already have all the necessary authorisations. In total, the multinational, Europe's leading electricity company in terms of share capital and second in the world, will have 330 MW under construction in Italy in 2024 and another 40 MW in early 2025, reaching an installed capacity of 400 MW and placing it among the leading renewable operators in the country. READ MORE
