COP26: IBERDROLA AT THE 2021 CLIMATE CONFERENCE

Gearing up for COP26: 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.

 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, five 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.

 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.

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

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.

With CO2/kWh emissions already two thirds lower than the European average, 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. This strategy will enable it to become a carbon-neutral company in Europe by 2030 and reduce its global CO2 emissions by 86 % to 50 g/kWh, by the end of the decade. It aims to achieve global carbon neutrality by 2050.

ScottishPower, principal partner for COP26

The group's subsidiary in the United Kingdom, ScottishPower, has confirmed its participation 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.

 

 

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.