Recognised for the tenth consecutive year in the World's Most Ethical Companies ranking by the Ethisphere Institute for its ethical culture and good practices.


We are the only Spanish company among the most ethical companies in the world

  • It analyses 200 indicators on governance, leadership and reputation, compliance system, ethical culture and social and environmental impact.
  • Only 135 companies from 19 countries are recognised worldwide.

Iberdrola has been selected for the tenth consecutive year as one of the most ethical companies in the world, according to the ranking of the World's Most Ethical Companies, prepared by the Ethisphere Institute, a leading organisation in the definition of standards of good business practices. Iberdrola continues to be the only Spanish company in this ranking and is one of the nine 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 has since 2007 recognised companies that promote positive change in the global business community and 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 analyses 200 indicators in the areas of governance, leadership and reputation, compliance, ethical culture, and social and environmental impact.

In this new 2023 edition, a total of 135 companies from 19 countries and 46 productive sectors have been recognised 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 enforce the highest ethical standards established in its Governance and Sustainability System, the company has set up a Compliance System that seeks to ensure that it acts in accordance with ethical principles and applicable legislation and to prevent irregular conduct of any kind.

As evidence of this good practice, Iberdrola has published its first Compliance System Transparency Report in 2022, and is also the first Ibex 35 company to undertake a study of these characteristics. This is a further step in the company's commitment to the implementation and ongoing improvement of a robust ethics and compliance system and reaffirms a business model that respects the rights of customers, employees, shareholders, and all of its stakeholders in general.