The results were presented at the World Economic Forum meeting this week
Iberdrola is the most sustainable Spanish company according to the new edition of the Global 100
- It is one of the top 20 companies in the world in terms of sustainability criteria, according to the annual Corporate Knights index
- The publication highlights Iberdrola as one of the so-called 'green energy majors' in a global context of commitment to the green recovery and increasingly ambitious climate commitments
Iberdrola has been selected as the most sustainable Spanish company, according to the Global 100 Most Sustainable Corporations in the World index, prepared annually by the publication Corporate Knights. The company, led by Ignacio Galán, also ranks in the top 20 of all the companies in the world. The results of this seventeenth edition were announced at the annual World Economic Forum meeting, which is being held virtually from today.
In this new edition, the report highlights in particular how the pandemic has reaffirmed the conviction that the economy and employment reactivation can only come from sustainable investments, as demonstrated by the growing commitment by governments as well as companies. In this regard, Iberdrola is highlighted as one of the so-called 'green energy majors,' leaders in this process of transforming the economic model.
More than 8,000 listed companies with revenue of more than 1 billion dollars were analysed to compile the ranking of the 100 most sustainable companies in the world. Companies that generate energy from coal, hinder climate policies and cause extreme deforestation through their activities were excluded. Thus, companies that worsen their benchmark indicators are excluded on an annual basis, although Iberdrola has been continuously selected in recent years.
Once this selection has been made, the report analyses 24 indicators including revenue from 'green' areas, investment in sustainable business, carbon levels, tax payments, gender diversity on the board of directors and racial diversity.
Iberdrola is a pioneer in all these areas and has defined specific plans and investments to continue advancing in the coming years. In its 2020-2025 plan, the company foresees investments worth 75 billion euros, earmarked for energy transition through more renewable projects, smart grids and large-scale storage systems.
In terms of carbon levels, with CO2/kWh two thirds below the European average, an investment strategy focused on clean energy and networks will make Iberdrola a carbon neutral company in Europe in 2030, enabling it to reduce its CO2 emissions globally by 86%, to 50g/kWh, at the end of the decade (70g/kWh by the end of 2025). The company already generates 100% of its energy with no emissions in countries including the United Kingdom, Germany and Portugal.
In terms of tax payments, Iberdrola's tax contribution worldwide amounted to 8.156 billion euros in 2019. In its Fiscal Transparency Report 2019: Our Commitment to Society, it states that 43% of its profit before tax was used to pay taxes.
In terms of its commitment to diversity and equal opportunities, Iberdrola has also been a pioneer in drawing up its first Diversity and Inclusion Report. It details the initiatives developed by the company in these areas, which are considered a strategic priority for its sustainable growth.