CIRCULAR ECONOMY AND SUSTAINABLE BUSINESS MODEL
The circular economy is the basis of the Iberdrola group's sustainable business model
The circular economy implies a cultural change in the way we understand the production and consumption system in order to deal with a lack of resources, environmental impacts, value creation and employment.
This new economic model is presented as a resource use system where the best waste is the one that is not produced and, those that are inevitable, are considered resources that can be reused and recycled.
For the Iberdrola group, the circular economy is therefore a key element for sustainable development and represents an opportunity to drive forward climate action and the energy transition.
The group has been working in this field for some time, both through its activity and the way it works with suppliers and customers.
In its everyday operations, the company is taking measures to reduce the use of natural resources by committing to decarbonisation and electrification and by making more sustainable use of natural resources by investing in more efficient, cleaner technologies and processes. The company also sponsors research into developing new technologies and devising solutions for reusing waste and promoting responsible consumption through environmental awareness programs.
Circular economy model at Iberdrola.
OVER 65 MILLION TONNES OF CO2 AVOIDED IN THE LAST THREE YEARS
The Iberdrola group also prioritises the hiring of companies with environmental management systems: driving ecodesign in collaboration with our suppliers, analysing product life cycles and encouraging the use of materials with low environmental impact. On the other had, it offers its customers high-energy efficient products that make use of digitalisation and use renewable energies, the group also promotes electric mobility.
THE LIFE CYCLE APPROACH AS A TOOL FOR CIRCULARITY
Since 2014, Iberdrola has integrated the life cycle approach into its management, which is the basis for the transition to the circular economy:
CIRCULAR ECONOMY PACT
In 2017, Iberdrola signed up to the Circular Economy Pact: A commitment by the economic and social agents 2018-2020 that the Spanish government signed with the European Commission within the framework of the Commission's 2020 European Growth Strategy and the so-called Roadmap to a Resource Efficient Europe.
The Pact, to which public and private bodies have joined, aims to involve Spain's main economic and social agents in the transition to a new economic model.
In 2019, Iberdrola improved its economic strategy by identifying specific indicators for the company's materials flow to reduce the percentage of waste generated, increase the percentage of waste recycled and increase the percentage of secondary materials through supplier traction.