Foreign Policy Association presents Ignacio Galán with ESG Leadership Award in New York
Ignacio Galán, Iberdrola Executive Chairman
Iberdrola's commitment to ESG principles has always been driven by our own internal conviction that we must do everything we can to make a positive impact on the communities we serve. That is why we included the Sustainable Development Goals in our corporate bylaws and created the concept of social dividend.
- This is the first time that the Foreign Policy Association has awarded an ESG Leadership Award.
- Ignacio Galán recognised for Iberdrola's firm commitment to making ESG+F principles an integral part of business strategy
Ignacio Galán, Executive Chairman of Iberdrola, was the first recipient of the ESG Leadership Award from the Foreign Policy Association in New York at its annual dinner at the Harvard Club in New York.
The award recognises business leaders who have demonstrated a strong commitment to ensuring that ESG+F (Environmental, Social & Governance + Financial Performance) principles are integrated as a core pillar of business strategy.
Other honourees during the evening included General Mark A. Milley, 20th Chairman of the Joint Chiefs of Staff and America's highest-ranking military officer, and Joaquín Duato, Chairman and CEO of Johnson & Johnson.
Ignacio Galán was honoured by Governor George Pataki, the 53rd Governor of New York, who served from 1996 to 2006. Pataki noted that "Galán is a visionary who has pointed the way to the next generation of renewable energy with a commitment to social responsibility".
On receiving the award, Ignacio Galán said: "I am very grateful to the Foreign Policy Association. I greatly admire all the work that the Association has been doing for many years.
"Iberdrola's commitment to ESG principles has always been driven by our own internal conviction that we must do everything we can to make a positive impact on the communities we serve. That is why we included the Sustainable Development Goals in our corporate bylaws and created the concept of social dividend".
"As we continue to invest and grow in the coming years, we remain committed to demonstrating that decarbonisation is fully compatible with value creation for all."
Under the leadership of Ignacio Galán over the past two decades, Iberdrola has invested more than €140 billion to drive the transition to clean energy. The company's investment strategy has been accompanied by a total commitment to creating sustainable value for all its stakeholders ("social dividend"). In 2022 Iberdrola made nearly 4,700 new hires in the Group, made purchases of €17.8 billion from thousands of suppliers that support 400,000 jobs worldwide, and paid more than €7.5 billion in taxes globally, supporting public finances.
Iberdrola's commitment to renewable energies and smart grids has placed it at the forefront of the energy transition. In the last two decades, the company has gone from being the twentieth largest electricity company in the world to the second largest by market capitalisation, while leading the sector in terms of climate ambition.
During this time Galán has promoted the closure of Iberdrola's 17 coal and fuel oil-fired power plants worldwide, while establishing an industry-leading 40,000 megawatts (MW) of renewable energy capacity.
Between 2023 and 2025, investments worth more than €47 billion are planned, which will underpin the company's ambitious Climate Action Plan. Iberdrola aims to achieve carbon neutrality by 2030 and net zero emissions by 2040.
The Foreign Policy Association is an independent organisation that has been working for over 100 years to help develop awareness, understanding and informed opinion on US foreign policy and global issues. The FPA aims to encourage citizens to participate in the foreign policy process.