AGAINST CLIMATE CHANGE
Iberdrola group's climate commitment
The electricity sector plays a key role in fulfilling the goal set by the historic Paris Agreement to keep global temperature rise well below 2 ºC. Iberdrola group, global leader in the fight against climate change — goal no. 13 of the Sustainable Development Goals (SDGs) — and active participant of the different Climate Summits, is fully aligned with this international agreement.
Iberdrola group's goals of emission reduction.
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The company has set forth the following climate goals for the coming decades:
- To reduce CO2 intensity emissions by 30% in 2020 compared to the company's specific emissions in 2007.
- To lower those intensity emissions to less than 150 g per kWh by 2030, representing a 50% decrease in specific emissions compared to 2007.
- And, last but not least, to be carbon neutral by 2050.
Targets for scopes 1, 2 and 3 approved by the Science Based Target Initiative in January 2019.
WE ADVOCATE FOR A DECARBONISED FUTURE
Iberdrola seeks to actively and decisively contribute to a low-carbon sustainable future, an effort that will also drive social and economic development through the creation of jobs and wealth. According to its fight against climate change, Iberdrola currently leads the biggest international indexes. The group, which looks upon the fight against climate change as a strategic pillar of its activity, has a Policy against Climate Change with different lines of action.
Iberdrola's lines of action to fight against climate change.
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- Contribute to the mitigation of climate change and the decarbonization of the energy model.
- Supporting international negotiations and the significant involvement of the private sector to meet goal thirteen of the Sustainable Development Goals: Climate Action.
- Holding on to the position as global leader in renewable energy, smart grids and efficient technologies.
- Integrate climate change into internal decision-making processes, as well as in the analysis and management of long-term risks for the group.
- Actively fostering a culture that promotes the efficient and responsible use of energy.
- Promoting internal training and climate awareness of interest groups and encouraging suppliers to adopt appropriate policies.
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At the close of the Nine months 2019, of the total installed capacity of the group, 62% corresponds to renewable energies and 68% is free of emissions.
Iberdrola's group progress in reducing emissions at the close of the Nine months 2019.
In line with its commitment to decarbonization, Iberdrola has already closed 15 carbon and fuel plants (with an installed capacity of 7.5 GW) worldwide since 2001, and is in the process of closing the last two (874 MW), both located in Spain.
By the end of the 2018-2022 period, it will have invested 34,000 million euros, of which 16 billion (47%) are for smart grids and 13 billion (39%), for renewables.
INITIATIVES, PROJECTS AND ACTIONS
To achieve these strategic objectives, Iberdrola has an investment plan and innovation policies focused on decarbonizing the energy mix and consolidating our leadership in renewable energies, smart networks and clean technologies.
It also takes part in institutions, organisations and national and global events in order to support the creation of climate policies and encourage decided participation by the private sector, contributing with analysis and positionings in decarbonisation strategies.
Iberdrola supports the objective of zero net emissions by 2050, convinced of the viability and opportunities of this scenario and of the central role of the electricity sector.
UNITED ON CLIMATE: LEADING EUROPEAN ENERGY COMPANIES JOIN TO SUPPORT THE CALL FOR THE EU TO COMMIT TO CLIMATE NEUTRALITY BY 2050
We, leading European Energy companies, support the call for the European Union to commit to achieving carbon neutrality by 2050 at the latest, and accordingly increase its greenhouse gas reduction target for 2030 to at least 55% reduction on 1990 levels to align with a cost-effective trajectory to 2050. Establishing these objectives will help to deliver the ambitions of the Paris Agreement and demonstrate the leadership of the EU in tackling climate change, encouraging other countries to follow.
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 2ºC 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 been the first Spanish company and one of the first in the world to receive the AENOR certificate in accordance with the UNE ISO 14064-1:2006 standard for its greenhouse gas emission inventory, a Group-level catalogue that covers all of its activities in Spain, the UK, U.S. and Latin America. The company has registered the GHG emission inventory (in accordance with the UNE ISO 14064-1:2006 standard) at the Spanish Climate Change Office.
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.
- We share the need to move towards a 1.5º C scenario with robust policies
- Iberdrola, awarded at the Climate Reality Awards 2018
- Iberdrola is joining the Plataforma x Aire Limpio initiative, a platform for clean air that intends to improve air quality in cities across Spain
- Ignacio Galan urges world leaders in Davos to speed up decarbonisation of the global economy