CLIMATE ACTION AND ALLIANCES
Commitment to an ambitious and urgent climate action
Iberdrola has made a public commitment to remaining among the largest European companies with the lowest CO2 emissions per kWh produced. The company focuses its efforts on gradually reducing its greenhouse gas emissions, promoting renewable sources and using the most efficient technology available.
Iberdrola group's goals of emission reduction.
Thus, Iberdrola has set itself the environmental objective of reducing its CO2 emissions intensity compared to 2007 by 50% by 2030, to below 150 grams of CO2 per kWh, as well as being carbon neutral by 2050. These objectives have been recognized as science-based in accordance with the Science Based Targets (SBTi) initiative.
The strategy to achieve this objective is based on the gradual reduction of the intensity of greenhouse gas emissions, through the commitment to close its last two coal-fired plants, and continuing with the development of electricity from renewable sources, progressively introducing the most efficient and least carbon-intensive technologies in existing installations and improving the energy efficiency of its activities.
Iberdrola group, against climate change.
- 60 million tonnes of CO2 avoided(1)
- 68% of the total installed capacity emission-free(2)
- 62% of the total installed capacity is from renewable sources(2)
- 100 billion euros invested in renewables since 2001
- 30,362 MW capacity in renewables
- 34 billion euros between 2018 and 2022 (47% for smart grids and 39% for renewable energy)
- 15 coal- and oil-fired power stations closed
- 9.95 billion euros in green bonds between 2014 and 2019(2)
- 3 billion euros invested in East Anglia ONE to improve the penetration of renewables
(1) During the last three years
(2) Data at the close of the Nine months 2019
PARTICIPATION IN THE GLOBAL CLIMATE AGENDA
Iberdrola group, aware of the fundamental role played by the energy sector in this field, has a Policy against climate change in which it commits itself to "supporting international climate change negotiation processes, the participation of the private sector in the global agenda, the creation of alliances and climate awareness".
The company exercises its role as a transforming agent through its involvement in multiple platforms, coalitions, and global organizations, such as the European Commission, UN Global Compact, We Mean Business, World Business Council for Sustainable Development or Corporate Leaders Group (CLG). It has also formally supported various initiatives, such as the CLG's declaration of zero net emissions by 2050. For all these reasons, Iberdrola has been recognised as a UN Global Compact Lead "for its contribution to global sustainability".
The company supports high-level political negotiations to achieve medium- and long-term climate goals and supports various initiatives:
- Iberdrola supports the European Union's climate strategy [PDF] objective of zero net emissions by 2050, convinced of the viability and opportunities of this scenario and of the central role of the electricity sector.
- Iberdrola is part of the CEO Climate Leadership Group, created within the framework of the Davos Economic Forum, and has formally supported a public positioning on zero net emissions by 2050.
- Iberdrola group stands out as the only representative of the energy sector in the Talanoa Dialogue, a global process of constructive debate and proposals for solutions by governments and civil society in which the company has offered its constructive vision [PDF].
- Iberdrola was one of the first companies to make a public commitment to implement the recommendations of the Task Force on Climate-related Financial Disclosure (TCFD) in its public reports by 2020.
- The company actively participates in Climate Summits with actions including a cycling route and the delivery of its Manifesto against climate change with the main lines of action in the fight against global warming.