NEGOTIATIONS AND CLIMATE POLICIES - COP25
Active presence at climate summits
Iberdrola works intensively within the framework of the global and regional debate on climate policies, participating actively in the main milestones of the global climate agenda.
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As recent milestones the following stand out: the Madrid Climate Summit (COP25), the Climate Summit of the Secretary General of the United Nations in New York and the activities of the Marrakesh Alliance for Global Climate Action.
Over the course of successive Conferences of the Parties — known as COP — new elements have been introduced into the international structure in the negotiations on climate change. These elements allow for specific challenges to be tackled such as mitigation and adaptation to climate change.
The United Nations Conference on the Environment and Development, held in Rio de Janeiro in 1992, demonstrated the international consensus for addressing the problem of climate change. This was the context behind establishing the United Nations Framework Convention on Climate Change (UNFCCC). It was initially signed by 166 countries, but 197 have now ratified it.
Since 1992, different milestones have been reached in the various negotiations. Finally, on 12 December 2015, the text of the Paris Agreement was approved, a legal pact containing the elements required to construct a global strategy to combat climate change from 2020 onwards.
Furthermore, We Mean Business, the main international coalition in defence of climate action from a business perspective, has presented a report under the title Climate Leadership Now [PDF], where Iberdrola stands in a very prominent position as a result of its intense participation in campaigns, declarations, alliances and powerful lobbying in favour of climate ambition.
FIND OUT ABOUT OUR PARTICIPATION IN THE LATEST COPS
Limiting global temperature increase
The conference focused on climate and energy scenarios to help limit the global temperature rise to below 1.5°C.
Bases for activating the Paris Agreement
It was key to designing the instruments that enable the climate goals to be tackled and achieved effectively and efficiently.
Partnerships to strengthen climate action
After the signature of the Paris Agreement, this summit was the kickstart for its implementation and for the approval of a collaboration framework with non-state agents.
Timetable for the principles of the Paris Agreement
The timetable envisaged that the rules governing the agreement should be concluded in 2018, two years before its launch. The drafting of these rules was crucial at the conference.
In the context of COP25, the company is fully committed to a climate scenario aligned with a maximum increase in the global temperature of 1.5 ºC and to an appropriate framework for labour terms and a just transition in the decarbonisation process. Both commitments have been formalised with the group's adherence to two commitments promoted by organisations and governments directly involved in the UN Climate Action Summit, held in New York in September.
With the upcoming COP26 to be held in Glasgow from 1 to 12 November 2021, Iberdrola is working intensively, by example and through various campaigns and activities, to support an ambitious approach when renewing political commitments — the so-called nationally determined contributions, or NDCs — which countries adhered to under the 2015 Paris Agreement.
It is worth noting that the health and economic crisis resulting from Covid-19 has caused all the activities on the climate agenda to focus on the fusion that has occurred between the climate and the economic discourse, with the aim of getting the economic recovery to lead to a robust, sustainable and resilient economy. Despite the exceptional circumstances caused by the health and economic crisis that has resulted from Covid-19, the global climate agenda will gain particular momentum in the last part of the year with a wide range of international events, campaigns and political milestones, some virtual, in which Iberdrola will participate at all levels. Details of the events can be found on the following link.
The world's climate agenda is busy with activities to mobilise the international community towards achieving the Paris Agreement goals. Within this scenario, the Secretariat of the United Nations Framework Convention on Climate Change, backed by the COP26 President and the Climate Champions, held a series of activities from 1 to 10 June 2020 that were open to society at large. The idea was to provide a platform in which to exchange information on the work being carried out by different countries and organisations and to renew alliances aimed at achieving a climate neutral world by 2050. The latter point includes the Race to Zero campaign, which will be promoted with a series of events and meetings from 9 to 19 November, updating and strengthening commitments undertaken by companies, governments and NGOs during the United Nations General Assembly in 2019 and COP25 in Madrid. During these dialogues, a wide variety of actors from different backgrounds — companies, NGOs, governments, institutions, etc. — will contribute their vision on how to move towards an economy with zero net emissions from different sectoral perspectives: finance, energy, industry, etc.
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Support for the zero net emissions target by 2050
For years Iberdrola has demonstrated explicit support at the highest level for the goal of carbon neutrality for 2050, convinced of the opportunities for the creation of value and prosperity derived from its achievement. The company's support in this area is especially important in the context of the European Union, where an intense political debate has taken place that has culminated in the formal approval of the 2050 climate-neutral objective [PDF] and the launch of the European Green Pact in December 2019, which places the European Union as the largest economic area committed to a neutral climate and a sustainable growth model.