COP26: IBERDROLA AT THE 2021 CLIMATE CONFERENCE
We push for climate action at COP 26 to meet the Paris Agreement goals
Under the slogan Uniting the world to tackle climate change, the United Nations Climate Change Conference (COP26) —held in Glasgow (United Kingdom) from 31 October to 12 November 2021— brought together representatives of some 200 governments with the aim of accelerating climate action to comply with the Paris Agreement. For yet another year, the Iberdrola group actively participated in this summit to show its commitment to a sustainable energy model that generates opportunities.
Iberdrola actively participated in the Climate Summit held in Glasgow.
MAIN AGREEMENTS REACHED AT COP26
COP26 External link, opens in new window. emphasised the urgency and opportunities of moving towards a carbon neutral economy and called for transparency and rigour in the climate action plans of both governments and companies. Thus, it gave birth to the Glasgow Climate Pact, a document containing guidelines for policy action agreed among all countries. The pact includes the following agreements:
The 1.5°C scenario is kept alive — with quantitative targets and explicit references to the reduction of coal and fossil fuel subsidies — and the need to meet it is recognised in order to avoid devastating effects. To this end, it is imperative to reduce emissions by 45% — compared to 2010 levels — by 2030 and to reach net zero emissions by 2050. In this context, countries are urged to accelerate their climate action and urged to review and increase their 2030 targets, in line with the Paris Agreement, before the end of 2022.
Coal reductions and the elimination of inefficient fossil fuel subsidies must be accelerated, with support for a just transition.
Developed countries must work to urgently and transparently meet the $100 billion climate finance target. Multilateral banks will have to align their investment portfolios with the Paris Agreement, as well as to revise this target upwards by 2025. Multilateral banks and developed countries are urged to align their financing activities with the Paris Agreement.
It sets out a two-year plan to set a global climate change adaptation target and calls on developed countries to double their adaptation finance support to developing countries by 2025.
Businesses will be able to participate in the 2030 Global Stocktake, a diagnosis of the situation on the basis of which decisions will be taken and climate laws revised. This participation will be channelled through climate champions.
A financial support mechanism is put in place to help developing countries cope with the impacts of climate change.
In addition to this pact, important political commitments and partnerships were announced at COP26, including the following:
The China-US Declaration to jointly strengthen climate action under the 1.5°C scenario. This collaboration will be articulated around five areas of action: regulations and standards to promote deep emissions reductions during this decade, transition to a clean energy model, end-use electrification, circular economy and technologies to capture CO2 from the atmosphere.
India announced strong renewable growth by 2030 (500 GW of clean energy by 2030) and its goal of climate neutrality by 2070.
A large group of countries and civil society leaders and companies, including Iberdrola, have signed up to the Global Coal to Clean Power Transition Statement External link, opens in new window., committing to support the acceleration of clean energy development in parallel to coal closure, as part of the just transition.
More than 30 countries — including the United States, Canada and Italy — have committed to end public support for fossil fuels by the end of 2022.
More than 35 countries — including the European Union and India — will work together to promote the use of clean energy in all sectors by 2030 in the so-called Glasgow Breakthrough Agenda.
For its part, the private sector showed its support for carbon neutrality targets. In the case of Iberdrola, it joined both the aforementioned statement on the closure of coal and the one on the transition to zero-emission vehicles External link, opens in new window.. The company is also part of the Race to Zero External link, opens in new window. campaign, through which power generators have pledged to have more than 750 GW of renewables by 2030. Iberdrola is also a member of the Green Hydrogen Catapult External link, opens in new window. coalition, which plans to develop 45 GW of electrolysers by 2026.
IBERDROLA'S LEADERSHIP IN COP26
At COP26, Iberdrola group demonstrated its commitment to a sustainable energy model that generates opportunities, and defended climate action as a central pillar of its strategy for sustainable development and respect for the environment. As the main partner of the Glasgow Summit — through its subsidiary in the United Kingdom, ScottishPower —, the company actively participated in various initiatives, forums and high-level meetings with members of the British government, the United Nations, the International Energy Agency, the European Climate Foundation and We Mean Business, among other organisations.
In total, the energy company organised more than 100 events with international and local institutions — more than half of them at ScottishPower's headquarters —, such as the energy transition meeting it held in collaboration with the British government or the Electric Mobility Revolution event, in partnership with the World Business Council for Sustainable Development (WBCSD).
OPINION BY GALÁN IN 'EL PAÍS'
"The summit begins today"
After COP26 in Glasgow, the Spanish newspaper El País published an opinion piece by the chairman of Iberdrola, Ignacio Galán, under the title The summit begins today, in which he argued that "now the real task begins: to take on our obligation towards future generations with specific actions".
International experts debate the role of trade policy in the fight against climate change
A group of renowned world experts discussed at the Climate Summit, along with the legal team of ScottishPower — Iberdrola group's UK subsidiary —, the pivotal role played by trade policies in the fight against climate change.
CARING FOR CLIMATE
Galán urges a move from promises to action at COP 26
Ignacio Galán participated in the Caring for Climate meeting organised as part of COP26, of which the company is a patron. This is an initiative of the United Nations Global Compact, the United Nations Environment Programme and the Secretariat of the United Nations Framework Convention on Climate Change to enhance the role of business in tackling climate change. The chairman also held a meeting with young people to discuss how they perceive the problem of climate change and to listen to their proposals.
MEETING WITH NICOLA STURGEON
Sturgeon: "Iberdrola sets an example for green hydrogen production and the decarbonisation of the country"
In a meeting held within the framework of the Climate Summit, the First Minister of Scotland, Nicola Sturgeon, conveyed this message to the chairman of Iberdrola, Ignacio Galán, to whom she also expressed her confidence and satisfaction with the work carried out by the company in the country: "We have known each other for more than 15 years and you have always kept your word and your support for Scotland and the Scottish people. We are very pleased with your presence and your commitment to the people of Scotland." Iberdrola submitted an application a few months ago to build a green hydrogen plant, to be developed alongside its Whitelee wind farm, which will include the UK's largest electrolyser, with 20 MW.
MEETING WITH JOHN KERRY
John Kerry and Ignacio Galán highlight the fundamental value of business in achieving climate goals
The former Secretary of State and current US Special Climate Envoy, John Kerry, and Ignacio Galán have highlighted the importance of the private sector in helping countries achieve their climate and decarbonisation goals. Kerry held a meeting in Glasgow, in the framework of COP26, with CEO of large companies that have made a great contribution to the United States in this purpose, among them, the head of Iberdrola, Ignacio Galán. The group is contributing to this green transition, leading the development of offshore wind energy and being the third largest player in onshore wind.
MEETING WITH JUAN MANUEL MORENO
Galán conveys his commitment to Andalusia to Juan Manuel Moreno: we will triple our renewable capacity in the region
Commitment to the energy transition and to a cleaner community. This is the message conveyed by Ignacio Galán to Juan Manuel Moreno, President of the Regional Government of Andalusia, in a meeting held in the framework of COP26. The chairman of Iberdrola has pledged to triple its renewable capacity in the region to 3,000 MW in the next five years. This plan represents an investment of around 1.5 billion euros and will create 5,500 new jobs in the region in installation and assembly alone. At present, the company is already the leading wind power developer in the region and has an installed renewable capacity of 817 MW.
POWERING PAST COAL ALLIANCE
"We must act in concert in the face of climate urgency"
The chairman of Iberdrola group participated in the event of the Powering Past Coal Alliance (PPCA), the coalition of governments and companies that was created in 2017 to promote policies and investment plans aligned against the end of coal as a source of energy to advance in the implementation of clean energy. In this context, on behalf of Iberdrola, he signed an International Declaration advocating the abolition of the use of this raw material, in line with the current edition of COP26, which sees this measure as one of the main assets to advance in the commitment to limit the global increase in temperature on the planet to a maximum of 1.5 ºC.
MEETING BETWEEN GALÁN AND AL GORE
"It is urgent to act against climate change. There is no time left and it is everyone's job"
Urgency, urgency and urgency. This is the message conveyed by the chairman of Iberdrola to Al Gore, former Vice-President of the United States and Nobel Peace Prize winner for his involvement in the fight against climate change, during their meeting in the framework of COP26. Ignacio Galán stressed the need to act urgently against climate change: "We have to do everything we can in this decade; we must be very ambitious and the time is now. We must reinforce the work of recent years so that it translates into well-being and jobs for citizens."
INTERVIEW ON BLOOMBERG TV
"It is possible to invest in clean energy and be a successful electricity company"
On the occasion of his participation in COP26, Ignacio Galán gave an interview to the US network Bloomberg, in which he stressed that Iberdrola has closed all its coal and fuel oil facilities, which shows that it is possible to invest in clean energy and be a successful company that also defends the interests of its investors. Galán also stated that the main problem affecting companies and investors is the slowness of the procedures related to obtaining administrative permits to build renewable energy projects, a situation that must be resolved as a matter of urgency.
ROYAL SEAL TERRA CARTA
We received the Terra Carta Royal Charter Seal for our contribution to the fight against climate change
The Prince of Wales, Charles of England, awarded the Terra Carta Royal Seal to Iberdrola for its contribution to climate change and sustainability. Terra Carta is a personal initiative that Prince Charles launched earlier this year with the aim of accelerating the transition to a sustainable economy. This distinction recognises companies that are world leaders in sustainability and have demonstrated a clear contribution to the fight against climate change, with a clearly defined plan towards decarbonisation.
'NYTIMES CLIMATE HUB'
"We have the technology, the social consensus and the financial resources, but we need to be faster in decarbonisation"
Ignacio Galán spoke at The New York Times Climate Hub meeting, organised within the framework of COP26, which revolved around the most urgent questions of our time: how do we adapt and prosper on a warming planet? Faced with this dilemma, the chairman of Iberdrola insisted that "we need to move from words to action" and said that "stable and predictable regulation and legal certainty are needed to accelerate investment in more competitive renewables, storage and grids, the three essential elements to make the energy transition a success."
We will plant more than 20 million trees
Iberdrola played a leading role in a seminar on reforestation at the Glasgow summit by announcing that it will plant more than 20 million trees. The programme was one of the most important actions presented by a private company at this international forum. This significant commitment, through the Trees Programme, will absorb more than 6 million tonnes of carbon over 30 years, equivalent to neutralising the emissions of a car driving around the Earth 116 times.
Kick-off for COP26
As the main sponsor of the event, ScottishPower dressed the city of Glasgow in green to announce the start of COP26. The company placed posters and canopies on buses, electric taxis, and in the Glasgow underground and airport, as well as advertisements in the press and on television, to raise awareness of the importance of acting now on climate change. Under the slogan We are on it, this campaign is an opportunity to reinforce Iberdrola's and ScottishPower's global leadership position in the field of climate neutrality.
ALIGNED WITH THE PARIS AGREEMENT
Ignacio Galán: "Iberdrola's long-term strategy is fully aligned with the Paris Agreement's most ambitious scenarios"
At the start of the summit, Ignacio Galán, who has been involved in all the COPs held since 2009, spoke about his participation in the event, "a milestone for demonstrating our commitment after more than 20 years of decarbonisation," with an investment of more than 120 bn euros. Galán urged all agents, countries and sectors to act during the coming decade, which will be crucial. "Together, we can make a real difference," he said.
COMMITTED TO COP26
We reaffirm our commitment to the sustainable future of the planet
Iberdrola continues to champion the fight against climate change, a task it made visible by once again renewing its commitment to the Climate Summit. The company played a prominent role at COP26, in clear alignment with its new challenges for the future: to redouble its renewable objectives and stay on the front line of clean energy production.
ScottishPower to restore the Firth of ForthExternal link, opens in new window.
ScottishPower Foundation has launched an initiative to restore the seagrass and oyster beds of the Firth of Forth in the North Sea. The Restoration Forth project will receive £600,000 over three years from the Foundation's Marine Biodiversity Fund, created on the occasion of COP26.
Galán recalls that "sustainability has been essential for Iberdrola since long before ESG criteria became widespread"
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.
COP26 Green Power List External link, opens in new window.
On the occasion of COP26, ScottishPower compiled a list that pays tribute to those people in the United Kingdom who have stood out for their fight against climate change. The company called on communities across the country to nominate their green champions and, from among them, a jury made up of experts from ScottishPower and the environmental and education sector selected a total of 23 people who have generated a positive impact and served as an inspiration both locally and globally.
PARTNERSHIP WITH WWF
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.
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.
SYFF and ScottishPower launch an environmental film competition for young peopleExternal link, opens in new window.
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.
ScottishPower begins construction of the UK's first hybrid farmExternal link, opens in new window.
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.
ScottishPower, principal partner for COP26
The group's subsidiary in the United Kingdom, ScottishPower, took part as the principal partner of the Glasgow COP External link, opens in new window., where it has its corporate headquarters. The COP26 Presidency partnered 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 lent their resources and expertise to helped make the conference a success and helped develop international actions to address climate change.
COP26 President Alok Sharma (centre of image) visited Whitelee wind farm, accompanied by ScottishPower CEO Keith Anderson and ScottishPower Renewables CEO Lindsay McQuade.
ScottishPower External link, opens in new window. 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 has driven climate action to increase ambition and accelerate the measures needed to move towards a safer climate for all. In addition, it has contributed 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.
Moving for Climate NOW
For yet another year, Iberdrola organised Moving for Climate NOW External link, opens in new window., a cycle ride that has accompanied the Climate Summits since 2015 and has become a benchmark initiative among key stakeholders. This is a route in which experts from different fields travel by electric bicycle along the road to the conference to deliver their Manifesto against climate change [PDF] External link, opens in new window. to the authorities of the UNFCCC and the COP itself, with the aim of raising awareness of the importance of the climate challenge, uniting efforts from all areas and acting with ambition and urgency.
In this sixth edition, the team — made up of 15 cyclists representing international organisations, governments, universities, environmental groups and business groups — started their ride in Edinburgh on 6 November and cycled over 270 kilometres, passing some of Scotland's most famous energy landmarks. On arrival in Glasgow on 9 November, they were received by the chairman of Iberdrola group, Ignacio Galán, and the CEO of ScottishPower, Keith Anderson.
The team arrived in Glasgow on 9 November, having travelled over 270 kilometres in four days.
Moving for Climate NOW came to Motherwell in its third stage.
In its second stage, Moving for Climate NOW traveled from Lanark to Troon.
Moving for Climate NOW kicked off in Edinburgh.
Iberdrola stand at COP26
Iberdrola had a stand within the COP26 Green Zone, an area open to the public with the purpose of promoting the involvement of civil society. The stand was a sustainable space that made the group's climate leadership visible and offered specialised presentations and audiovisual content to present its actions, initiatives and commitments to meet the objectives in the fight against climate change and to promote social mobilisation in the face of this challenge.
Specifically, the main theme of the space was the power of nature as a source of clean and ecological energy, highlighting the company's pioneering commitment to renewable energies and decarbonisation. Visitors were able to feel the forces of nature through a climate tunnel, an immersive experience that combined images projected on large LED screens with lighting, sound, heat, movement and smell effects. They also interacted with a large tactile globe that showed the most relevant data of the group in the different countries where it is present.
The power of nature's clean energy was the protagonist of Iberdrola's stand at COP26.
A group of Scottish schoolchildren visit the Iberdrola stand.
IBERDROLA'S CONTRIBUTION TO FULFILLING THE COP26 TARGETS
Iberdrola 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 has brought 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 have been 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 took 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 provided an informal setting to discuss and exchange views on some essential policy aspects of the subsequent negotiations.
Before this, the Youth Summit was 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 included two days dedicated to the working groups and a final day of discussion between the young delegates and the ministers attending the Pre-COP26.