COP26: IBERDROLA AT THE 2021 CLIMATE CONFERENCE

We are boosting climate action to meet the Paris Agreement targets

#environmental sustainability #climate change

Under the slogan Uniting the world to tackle climate change, the forthcoming United Nations Climate Change Conference (COP26), which will be held in Glasgow (UK) from 1 to 12 November 2021, will bring together representatives of some 200 governments with the aim of accelerating climate action to fulfil the Paris Agreement. The Presidency of the conference is already working with civil society and business, including Iberdrola group, to prepare the annual event and inspire climate action ahead of the event. Once again, Iberdrola group will actively participate in this summit to show its commitment to a sustainable energy model that generates opportunities.

 All you need to know about COP26

On 12 December 2015, in the framework of COP21, world leaders approved in Paris a historic agreement to slow down climate change. They committed to keeping the global average temperature increase to well below 2 ºC with respect to pre-industrial levels, and to work to limit this increase to 1.5 ºC. They also agreed to intensify efforts to adapt to the impacts of climate change and to make funding flows consistent with the transition to a low-carbon economy and climate-resilient development.

Now, six years after the adoption of the Paris Agreement, climate action has become a key part of the recovery plans for the COVID-19 pandemic. A green recovery that creates sustainable jobs and that addresses challenges linked to public health, climate change and loss of biodiversity in order to protect the environment for future generations.

MAIN MESSAGES FROM COP26

COP26 aims to demonstrate the urgency and opportunities of moving towards a carbon-neutral economy, as well as the power of international cooperation to address the most serious challenges that the world faces. In this respect, a number of ideas and messages will be highlighted at the Glasgow Climate Conference:

 A balanced and negotiated package must be adopted that complies with the Paris Agreement and enables progress towards the UN's climate goals.

 To ensure success, all countries need to commit to achieving zero net emissions as soon as possible, making significant cuts already by 2030 and establishing regulatory frameworks aimed at creating environments that encourage investments in climate solutions in all sectors.

 We need to help societies and economies adapt to climate change, especially the most vulnerable, to ensure a just transition.

 It is essential to replace polluting energy sources with clean energy systems, taking advantage of the opportunity offered by the rapid fall in the costs of renewables and energy storage.

 We need to accelerate the transition towards carbon-free transport, by gradually phasing out petrol and diesel engines.

 For all this to be possible, a green transformation of the financial system is essential, so that all countries can drive clean and resilient investments. Meeting the $100 billion target and an agreement on how the United Nations Framework Convention on Climate Change (UNFCCC) process will take forward work on climate finance will be essential to this.

 The decarbonisation of the global economy requires innovation and commitment by everyone: citizens, investors, companies, countries, regions and cities.

In this context, it is very important to highlight the European Union's leadership in the global climate agenda, as it is the first major economy to put forward a package of policies (the so-called Fit for 55 Package) to support its acceleration.

IBERDROLA'S PARTICIPATION IN COP26

Iberdrola group is working hard, leading by example and undertaking various campaigns and activities, to support an ambitious approach to renewing the political commitments, the so-called nationally determined contributions or NDCs, made by countries under the Paris Agreement.

The company will demonstrate its commitment to a sustainable energy model that generates opportunities. To this end, it will actively participate in various high-level initiatives and events, including the organisation of an event on energy transition in collaboration with the British government, as well as its involvement in the Electric Mobility Revolution event organised with the World Business Council for Sustainable Development (WBCSD), which will take place at the ScottishPower Auditorium.

Iberdrola will also show at COP26 that it places climate action at the heart of the drive for sustainable development and the defence of the environment. With this philosophy, it is promoting an event in collaboration with Birdlife International to discuss the challenges and opportunities of achieving a just and positive transition for nature from the industry's perspective.

In addition, as in previous years, the company will organise Moving for Climate NOW, a bike ride that has accompanied the Climate Summits since 2015 and has become a benchmark initiative among key stakeholders. In this sixth edition, the team — made up of representatives of companies, administrations and various organisations — will cover 300 kilometres on electric bicycles to deliver a manifesto to the UNFCCC and COP26 authorities with the aim of raising awareness of the importance of the climate challenge, uniting efforts from all areas and acting with ambition and urgency.

Iberdrola will also have a stand in the COP26 Green Zone, an area that seeks to promote the involvement of civil society and which is open to anyone who comes to the summit site. The stand will be a sustainable space that will showcase the group's climate leadership and will offer specialised presentations and audiovisual content to present its actions, initiatives and commitments to meet the objectives in the fight against climate change and promote social mobilisation in the face of this challenge.

The utility is now an international benchmark in the fight against climate change and continues to make progress in this area. Thus, it has announced a historic investment plan for 2020-2025 by which it commits itself to investing nearly 35 billion euros in renewable energies and more than 27 billion euros in smart grids until the middle of the decade. In addition, this plan has been increased to €150 billion by 2030, which will enable the company to triple its renewable capacity and double its regulated assets by the end of the period, with 90 % of this investment aligned with the European Union taxonomy for mitigating climate change.

This strategy will enable Iberdrola to become a carbon-neutral company in Europe by 2030 and reduce its global CO2 emissions to 50 g/kWh. It aims to achieve global carbon neutrality by 2050.

  • sub DECARBONISING NOW Ignacio Galán, chairman of Iberdrola.

    Galán recalls that "sustainability has been essential for Iberdrola since long before ESG criteria became widespread"

    The chairman of Iberdrola group, Ignacio Galán, opened the virtual conference Business alignment with the Paris Agreement: from ambition to action, organised by the Center for Sustainable Investment and the Columbia University Climate School on the occasion of COP26. Galán reminded the audience that "we are at a critical moment" and that, in order to become carbon neutral in 30 years, "we need to decarbonise now." He also highlighted Iberdrola's pioneering commitment to electrification more than 20 years ago and the 120 billion euros it has already invested in renewables and grids, to which a further 150 billion will be added during this decade.

  • sub RACE TO ZERO BREAKTHOUGH

    The electricity sector moves forward in the race to zero emissions

    At the opening of Climate Week in New York (20 September), the main electricity companies announced that 20 % of the sector is now part of the Race to Zero Breakthough initiative, thus meeting the target set by the United Nations Framework Convention on Climate Change (UNFCCC), the UN climate champions and the presidents of COP25 and COP26 ahead of this climate summit in November. The initiative, which has been supported by Iberdrola since its launch, articulates what key actors from 20 sectors of the global economy must do and when in order to achieve the changes needed to reach a resilient, carbon-neutral future by 2050 at the latest.

ScottishPower, principal partner for COP26

The group's subsidiary in the United Kingdom, ScottishPower, takes part as the principal partner of the Glasgow COP, where it has its corporate headquarters. The COP26 Presidency has set out to associate with companies that stand out for their ambitious climate commitments and that have credible, short-term, science-based emission reduction plans in line with the Paris Agreement targets. These companies will lend their resources and expertise to help make the conference a success and help develop international actions to address climate change.

ScottishPower was the first integrated energy company in the UK to have 100 % clean generation, producing all its electricity from offshore and onshore power. Of the 75 billion the group plans to invest between 2020 and 2025, some 10.88 billion will go to the United Kingdom in order to lead the country's transition to a carbon-neutral economy.

As principal partner of the COP26, the company aims to drive climate action to increase ambition and accelerate the measures needed to move towards a safer climate for all. It also seeks to raise public awareness about the importance and urgency of this challenge and how the need for a sustainable and fairer future must be at the heart of the recovery of the world economy.

 

  • sub PARTNERSHIP WITH WWF ScottishPower partners with the World Wide Fund for Nature.

    ScottishPower partners with the World Wide Fund for Nature (WWF)

    ScottishPower has partnered with the environmental NGO WWF to drive the UK's transition to zero emissions. With this partnership, both actors aim to seize the historic opportunity provided by COP26 to accelerate the achievement of climate targets and recognises ScottishPower's role as climate leader in the UK energy sector.

  • sub GREEN EMPLOYMENT

    SP Energy Networks to hire 152 engineers by the end of the year

    ScottishPower's Networks subsidiary has announced its biggest recruitment campaign so far this century, seeking to move towards modernising the UK's electricity grid to enable the massive integration of renewables and the increased demand for electricity — due to new uses such as transport or heating — that the energy transition will bring. Scotland's First Minister, Nicola Sturgeon, has stressed the "huge importance" of this measure to the successful completion of the UK's journey towards carbon neutrality.

  • sub FILM COMPETITION SYFF and ScottishPower launch an environmental film competition for young people.

    SYFF and ScottishPower launch an environmental film competition for young people

    The Scottish Youth Film Foundation (SYFF), with the support of ScottishPower, is inviting young Scots under 19 to enter a climate change film competition. The short films, which must be no longer than five minutes, will be about the history of Scotland's climate. The winning entries will be announced and screened during COP26.

  • sub HYBRID ENERGY UKs first hybrid farm.

    ScottishPower begins construction of the UK's first hybrid farm

    UK Prime Minister Boris Johnson attended the installation of the first 10,000 solar panels at Carland Cross, in Cornwall. These panels will be part of a 10 MW photovoltaic plant, which will be added to the existing 20 MW, wind farm and a 1 MW battery storage system. Carland Cross becomes the country's first hybrid power generation facility and will produce green energy to power 15,000 homes.

 

IBERDROLA'S CONTRIBUTION TO FULFILLING THE COP26 TARGETS

Against climate change.

Global leader in the fight against climate change

Fully in line with the Paris Agreement, Iberdrola group aims to reduce its CO2 emissions to 50 gCO2/kWh by 2030 and become globally carbon neutral by 2050.
Committed.

Ambitious and urgent climate action

The fight against climate change has been the driving force behind the strategy of the company, which has invested more than 100,000 million euros over the last 20 years to achieve a decarbonised energy model.
Climate conferences.

Active presence at climate conferences

Iberdrola is very active in the global and regional debate on climate policy and actively participates in the global climate agenda.
SDG 13.

Aligned with the UN SDG 13

The group focuses on meeting Sustainable Development Goal 13, climate action, by actively and resolutely contributing to a sustainable, low-carbon future.
Green Recovery.

We are committed to the Green Recovery

Firmly convinced that recovery after COVID-19 can only be green, Iberdrola has accelerated its investments in renewable energies, digitalisation and electric mobility.
Energy transition.

We are leading the energy transition

The company has a historic investment plan of 75 billion euros up to 2025 to anticipate the energy revolution facing the world economy.
Renewables.

We are a world leader in renewables

The group began its commitment to renewable energies more than two decades ago, as a fundamental pillar on which to build its clean, reliable and intelligent business model.
Sustainable mobility.

We are driving sustainable mobility

Iberdrola is strengthening its strategy against climate change through its Sustainable Mobility Plan, launched in 2016 with the aim of moving towards the electrification of transport.
Green financing.

International leader in green financing

We are the leading corporate group in green bond issuance worldwide and the first Spanish issuer to join the sustainable bond network of the Nasdaq index.
TCFD.

Transparency in the management of climate risk

The company has implemented the TCFD's 11 recommendations on transparency in the management of risks and opportunities arising from climate change.

 
 

All the information about

THE COP26

What is the COP?

The Conference of the Parties or COP is the supreme body of the United Nations Framework Convention on Climate Change (UNFCCC), a treaty that sets out the basic obligations of the 196 states (or parties) and the European Union to combat climate change. It was signed at the 1992 Earth Summit and came into force in 1994. Since then, a COP has been held every year to review the status of its implementation and to propose, evaluate and approve other instruments to support its establishment.

Who participates in the COP?

The parties are member states of the UNFCCC and the European Union, currently some 200 countries, which participate through their heads of state or government or, on their behalf, their ministers. In addition to the parties, representatives of companies, international organisations, interest groups or associations may be present at the COP as observadores.

What is the objective of the COP?

The COP brings governments from all around the world together with thousands of scientists, business people, institutional representatives and NGOs to announce new climate commitments and push forward climate change negotiations, with the aim of making all items of the Paris Agreement operative. It is therefore an inescapable event on the global climate agenda.

How many COPs have been held?

25 COPs have been held since 1995. The first one took place in Berlin and, since then, they have been held in different cities in Europe, America, Africa and Asia. Bonn (Germany) has hosted several COPs as the seat of the UNFCCC.

Where and when is COP26 being held?

COP26 is being held in Glasgow, United Kingdom, from 1 to 12 November 2021 at the Scottish Event Campus (SEC). The 26.ª Conference of the Parties was originally scheduled for November 2020, but the UNFCCC decided to postpone it to 2021 because of the COVID-19 pandemic.

Glasgow has been chosen to host the Climate Summit because of its commitment to and record on sustainability. The Scottish city has set itself the target of becoming carbon neutral by 2030 and aims to become one of Europe's greenest cities through its Sustainable Glasgow campaign. It also ranks fourth in the Global Destination Sustainability Index.

Who will chair the COP26?

The United Kingdom is chairing COP26 in partnership with Italy. This is the first time the UK has hosted a Conference of the Parties in recognition of its leadership in the fight against climate change.

The United Kingdom has reduced its emissions by over 40 % since 1990 and it is the world's largest producer of offshore wind energy. It was the first major economy to pass carbon-neutral legislation and has announced plans to double its international climate funding and mobilise support for developing countries. The country, which has a 25-year Environmental Plan to address today's major environmental problems including air quality, nature recovery, waste reduction and resource efficiency, predicts that its low-carbon economy will grow four times faster than the rest of the world economy by 2030.

Why is the COP26 important?

COP26 will bring together more than 30,000 delegates, including heads of state, climate experts, businesses and activists, to agree on a coordinated action plan to meet the objectives set out in the Paris Agreement: to keep global temperature increases well below 2 °C and to move towards climate and energy scenarios that help limit them to 1.5 °C. To this end, countries will be called upon to take an ambitious approach to renewing their climate commitments or NDCs (Nationally Determined Contributions).

What is the slogan of the COP26?

The slogan of COP26 is Uniting the world to tackle climate change, emphasising the importance of international cooperation to address climate change.

What other activities will take place in the framework of COP26?

From 30 September to 2 October 2021 the Pre-COP will take place in Milan (Italy), a preparatory meeting attended by 35-40 countries, representatives of the UNFCCC Secretariat, the chairs of the Convention's subsidiary bodies and a number of stakeholders that play a key role in the fight against climate change and the transition to sustainable development. The event will provide an informal setting to discuss and exchange views on some essential policy aspects of the subsequent negotiations.

Before this, the Youth Summit will be held from 28 to 30 September also in Milan, bringing together almost 400 young people aged 18 to 29 from the 197 member countries of the UNFCCC to draw up concrete proposals on issues affecting the negotiations at the Pre-COP in Milan and the COP in Glasgow. Entitled Youth for Climate: Driving ambition, the meeting will include two days dedicated to the working groups and a final day of discussion between the young delegates and the ministers attending the Pre-COP26.