INITIATIVES AND INSTITUTIONS
Participation in the global climate agenda
An important part of the Climate Action Plan is supporting the global climate action process by forming alliances and participating in national and international institutions, organisations, campaigns and events, promoting an ambitious approach in the definition of climate policies and in the participation of the private sector.
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Iberdrola supports ambitious approaches in climate policies (for example, support for the goal of zero net emissions by 2050), having made commitments to some of the main international organisations and business coalitions such as UN Global Compact, WBCSD, European Climate Foundation and Corporate Leaders Group.
Among others, Iberdrola has specifically supported the following initiatives:
- Uniting Business and Government to Recover Better. This statement driven by the UN Global Compact aims to bring businesses and governments together to streamline recovery, calling on governments to focus on a faster and fairer transition geared towards green economy by grounding recovery policies and plans in the latest climate science. This is the largest initiative put in motion by the United Nations, backed by over 170 CEOs from major multinationals who have ratified their science-based commitments to achieve a zero-emissions economy, calling upon governments to rise to their ambitions.
- Supporting the Race to Zero campaign, which aims to bring together a broad alliance of players willing to pull together to fulfil the goal of net zero emissions by 2050. Iberdrola is involved in this initiative through its adherence to the Business Ambition 1,5 ºC campaign and has played a leading role in the Race to Zero Dialogues, held from 9 to 19 November 2020.
- Calling for green economic recovery. This statement is driven by the Spanish Green Growth Group. It is endorsed by 50 IBEX listed companies (including BBVA, Ferrovial and Telefónica), one of which is Iberdrola.
- Call [PDF] from the benchmark European energy companies for an ambitious EU climate law that recognises the benefits of an energy system based on renewable energies, including assuming a commitment to reduce greenhouse gases by at least 55 % before the COP26, thus going beyond the EU's framework for action for 2030.
- An open letter from business to world leaders: "Be ambitious, and together we can address climate change".
- Declaration of support from the Corporate Leaders Group, with a view to backing a strategy of EU climate neutrality by 2050.
- UNSG Summit Pledge Letter. Business commitment to a just transition and green, decent jobs.
- "Business Ambition for 1,5 ºC". Declaration of commitment to nil net emissions by 2050, an initiative in which Iberdrola participates along with another 177 global companies.
- EV100 initiative and commitment to electrify the company's vehicle fleet by 2030.
Iberdrola takes an active role in leading the fight against climate change in the international institutional sphere. The company does this by raising awareness, and by acting as an agent for change through its involvement in various lobbies, coalitions and international organisations:
An organisation whose members include a significant portion of the world business community and which works to create a sustainable future from the corporate, social and environmental point of view.
Collaborative association of companies and the public sector operating on a global scale to promote the development of technological solutions to cap the rise in global temperature at less than 1.5ºC by the end of the century.
Group of companies that take a leadership role in providing solutions to climate change with a focus on Europe, but with a global vocation.
An initiative by companies, governments and the World Bank that works to reinforce the worldwide implentation of carbon pricing, considered as a key measure for climate action.
This is one of the most influential think tanks worldwide. Specialised in the economic sphere, it encourages rigorous debate on European policies.
LEAD is a project forged in the core of the Global Compact by companies that have traditionally shown the strongest commitment to the Global Compact, both locally and globally. This is a collaborative space to generate advanced practices in corporate sustainability.
This coalition of corporate organisations works with the most influential businesses and investors to progress towards a low-carbon economy.
Iberdrola has registered its commitments to climate change with NAZCA, the Non-State Actor Zone for Climate Action. NAZCA registers the climate action pledges of companies, cities, regions, sub-national governments and investors. A large number of the commitments captured in NAZCA come together worldwide under the Lima-Paris Action Agenda, which involves both state and non-state actors, and whose aim is to advance cooperative climate action now and in the future.
Iberdrola has joined this public-private platform set up to make progress on the fight against climate change and towards a low-carbon economy. The GECV aims to get companies more involved, share information, identify opportunities and boost Spain's presence in international forums.