NEW YORK CLIMATE WEEK 2021

A global opportunity to accelerate climate action

#environmental sustainability #climate change #social action

With the motto Getting it done, Climate Week NYC (20 - 26 September) focused on compliance with the climate objectives and the need to secure more commitments from companies, governments and organisations. Iberdrola group, a global benchmark in the fight against climate change, was once again attending this event, a global opportunity to join forces to accelerate climate action and assess progress before COP26.

 All the information about New York Climate Week

IBERDROLA, AT THE FOREFRONT OF CLIMATE ACTION

Iberdrola has invested 120 billion euros in renewable energies, electricity grids and storage over the last two decades. A pioneering commitment to clean energy that has placed it in a leading position in terms of climate action, with CO2 emissions that are already six times lower than those of its European competitors.

But the group's climate commitment does not end there: Iberdrola has pledged to invest an additional 150 billion euros by 2030 to continue to lead the energy transition facing the global economy. Its goal is to achieve carbon neutrality in Europe by 2030, 20 years before the horizon set by the Old Continent, and to be a carbon neutral company globally by 2050.

With its support for initiatives such as New York Climate Week, Iberdrola stresses the need to act urgently to keep global warming below 1.5 ºC and mitigate the effects of climate change on the planet. This will only be possible by joining efforts of all agents from all geographies and sectors to multiply the effectiveness of individual commitments and find new solutions.

In this respect, the electricity industry plays a key role. Renewable energies, smart grids and the electrification of energy uses will be the key vectors for the decarbonization of the economy. And Iberdrola group is working to remain at the forefront of this green transformation.

  • sub ENCOURAGING GLOBAL SIGNS Ignacio Galán, chairman of Iberdrola.

    "It is positive that the world is pulling in the right direction as we approach COP26"

    In an interview on Bloomberg TV, Iberdrola group chairman Ignacio Galán highlighted the progress made at Climate Week in New York, which paves the way for COP26, to be held in Glasgow in November. Galán applauded the announcements made by China, the United States, the European Union and the United Kingdom, which he considered to be "encouraging signs" for the fight against climate change at global level. He urged the EU to keep a close eye on the policies of individual member states to ensure that the measures they take are consistent with European emission reduction plans.

  • sub ACT URGENTLY

    "COP26 will be a crucial moment to show our commitment"

    Ignacio Galán spoke at the United Nations Energy Action Days, where he praised the “key” role of this organisation in climate action. The group's chairman stressed that “every day counts” in the fight against climate change, which is why we must start today to build “a stronger and more sustainable economy, capable of creating quality jobs on a massive scale.” This will be the spirit in which Iberdrola will attend COP26, in November, of which its subsidiary ScottishPower is the main sponsor.

  • sub COMMITMENT TO QATAR Ignacio Galán, chairman of Iberdrola.

    Galán meets with the CEO of Qatar Investment Authority

    Iberdrola chairman met in New York with Mansoor bin Ebrahim Al Mahmoud, CEO of Qatar Investment Authority, Iberdrola's largest shareholder. The executive showed his support for the group's project and its historic 150 billion investment plan until 2030, which will allow the company to anticipate and take advantage of the opportunities of the energy transformation faced by the world's leading economies. Galán and Al Mahmoud reviewed Iberdrola's progress in the different businesses and countries in which it operates, as well as the main objectives until the end of the year.

  • sub ESG INVESTMENTS

    Galán highlights the good position of the United States to attract investment to promote decarbonisation

    At the Transatlantic Economic Conference, organised by the Spain-U.S. Chamber of Commerce and the Cámara de Comercio de España, the chairman of Iberdrola group discussed the importance of making investments based on environmental, social and governance (ESG) criteria to combat climate change. Galán said that, in order to attract these investments, the United States has stable and predictable frameworks, tax incentives for renewable energies and rate cases for networks agreed through transparent processes, as well as good federal and state cooperation, which has allowed Iberdrola to diversify and be present in 25 states in the country.

  • sub RENEWABLES, GRIDS AND STORAGE

    "We will not reach climate goals if we do not invest massively in the expansion of renewable energies, smart grids and storage"

    Ignacio Galán took part in the Sustainable Development Impact Summit 2021, organised by the World Economic Forum (WEF) to coincide with Climate Week in New York and the United Nations General Assembly. During his speech, the chairman of Iberdrola stressed that, in order to achieve carbon neutrality, it is essential to have "clear and stable" frameworks that give investors confidence, as the United States is doing. He also insisted on the need to streamline administrative processes to reduce tendering times for renewable facilities or grids and to promote tax policies based on the "polluters pay" principle.

  • sub GLOBAL COMPACT LEAD Ignacio Galán, chairman of Iberdrola group.

    Iberdrola, the only Spanish company recognised as a 'leading company' by the UN Global Compact

    Iberdrola has been recognised as one of the companies in the Global Compact LEAD for its ongoing commitment to the United Nations Global Compact and the 10 principles for responsible business. The utility, which is part of this ranking for the fifth consecutive year, is the only Spanish member of this select group of companies, which represents 18 industrial sectors from all regions of the world.

  • 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, 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 major 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.

 

COMMITMENTS ANNOUNCED DURING CLIMATE WEEK

The announcements on climate finance and the closure of coal, as well as the road maps towards the energy transition were the highlights of Climate Week NYC.

  • The United States has committed to quadruple its climate finance support to developing countries, taking it up to 11 billion dollars per year by 2024. This announcement stands alongside that previously made by the President of the European Commission, Ursula Von der Leyen, to increase the climate finance provided by the EU by 4 billion euros per year to 2027, which would be added to the yearly 25 billion that it is now contributing.
  • China has announced that it will stop funding coal fired power stations beyond its frontiers. This commitment is especially relevant, as China is the principal financier of this type of power plants, followed by South Korea and Japan, which also announced a similar commitment a few months ago.
  • Furthermore, seven countries (the UK, Germany, France, Chile, etc.) have formed an alliance to halt the construction of new coal fired power plants. This initiative is in line with the speech given by the Secretary General of the UN, António Guterres, who stressed the key role played by this move.
  • Within the framework of the High-level Dialogue on Energy, the UK, Brazil, Portugal and Germany, among other countries, formally presented the Energy Compacts, which reveal their plans for the energy transition and the decarbonisation of the economy. Iberdrola played a very active part in this section with the presentation of two Energy Compacts [PDF], one on energy transition and the other on green hydrogen.

ALIGNED WITH CLIMATE WEEK

Fight against climate change.

Worldwide benchmark in the fight against climate change

The company has committed to reducing its emission intensity to 50 gCO2/kWh by 2030 and being carbon neutral globally by 2050.
Active presence at climate summits.

Active presence at climate summits

We are being extremely active within the framework of the global and regional debate on climate policies.
Energy transition.

We are 20 years ahead of the energy transition

Iberdrola is committed to a clean, reliable and smart model which replaces production using polluting energy sources with clean energies.
World leader in renewable energy.

World leader in renewable energy

The group has invested 120 billion euros in renewable energy over the past 20 years.
Sustainable mobility.

We are the driving force behind sustainable mobility

We are leading the transition to sustainable mobility and the electrification of transport as an effective way to combat climate change.
Tree.

Green Recovery

Iberdrola group believes that post COVID-19 recovery can only be green, and is making a case for an economy that is climatically neutral, resilient, sustainable and inclusive.
Green financing.

An international benchmark in green financing

Iberdrola was the first Spanish company to issue a green bond and we are currently an international benchmark in this form of financing.
Biodiversity.

We are protecting biodiversity

The company is integrating the conservation of ecosystem biodiversity into its strategy and promoting clean energies as the source of sustainable development.
SDG.

Leaders in promoting the SDGs

The group has incorporated the UN's Sustainable Development Goals (SDGs) into its corporate strategy, putting special emphasis on SDG 7 (affordable and clean energy) and SDG 13 (climate action), in addition to contributing directly to SDG 9 (industry, innovation and infrastructure), among others.

KEY FACTORS FOR A GREENER FUTURE

Green jobs.

Green jobs

The transition to a decarbonised economy is an engine of economic growth with the potential to create millions of green jobs.
Environmental taxes.

Environmental taxes

These are based on the principle that the polluter pays and that those behaviours that are harmful to the health of the planet are taxed.
Green recovery.

Just transition

The transition to a carbon neutral economy will imply structural changes with a strong impact on certain regions, areas and groups. Such a transition must be fair, to avoid leaving anyone behind.
Green recovery measures.

Green recovery measures

Ever more governments, bodies and companies are channelling their efforts into a green post COVID-19 recovery.
The worst decade for the climate.

2010-2019: the worst decade for the climate

The consequences of the increase in the average temperature of the Earth range from a rise in sea levels to extreme weather events.
Climate change.

Mitigating and adapting to climate change

Climate change is a threat to the future of our planet, but there is still time for us to adapt to it and mitigate its effects.
Rain.

Overexploitation of natural resources

Natural resources are essential for our survival, but if we use them faster than they naturally regenerate, there is a distinct danger of them running out.
Sustainable infrastructures.

Sustainable infrastructures

The world will have to invest $90 trillion in sustainable infrastructure by 2030, according to estimates by The New Climate Economy.
Sustainable urban development.

Sustainable urban development

Citizens, planners and architects with an ecological conscience put their hopes in the eco-neighbourhoods.
Bicycle.

Future of mobility

Thanks to the digital revolution, tools like big data and concepts like car sharing have become vital components in creating smart cities with high-performance mobility systems.
Sustainable nutrition.

Sustainable nutrition

Sustainable food encourages the consumption of local products, generates less waste and limits the consumption of meat and fish to protect biodiversity.

WHAT THE EXPERTS THINK

Jim McClelland.

Divestment and climate goals

Jim McClelland, founder, editor and brand ambassador of SustMeme, argues that climate goals have led to disinvestment in fossil fuels, something that is spreading to meat and plastic as well.
Anita Sengupta.

The future of sustainable and green transportation

Anita Sengupta, an aerospace engineer, scientist and pilot, says that "the evolutionary path to green transport allows us to protect our planet with an interplanetary perspective."
Jonathon Porritt.

An unstoppable revolution

Jonathon Porritt, co-founder of Forum for the Future, writes that "it is more profitable to build and operate new alternative energy projects that it is to maintain existing conventional plants."
Erik Solheim.

A new ecological development model

Erik Solheim, ex executive director of the PNUMA, writes about the unprecedented opportunity facing us: "for the first time it is possible to adopt a new ecological development model."
Saskia Sassen.

Cities, key factors for change

The sociologist, author and professor Saskia Sassen speaks about the role played by cities in changing the way the new age is managed and insists on the need for us to "move far faster" as regards changing things.

 

All the information about

NEW YORK CLIMATE WEEK

What is Climate Week NYC?

Climate Week NYC is a climate summit attended by leaders from governments, business and civil society, as well as local authorities and international organisations to discuss how to curb global warming.

Why is Climate Week NYC celebrated?

Climate Week NYC aims to rebuild the global economy for people and for the planet as a pathway to a better future. To this end, it seeks to reduce global greenhouse gas emissions by half between now and 2030.

Who is organising Climate Week NYC?

Climate Week NYC is organised by The Climate Group, in partnership with the United Nations (UN) and New York City Council. The Climate Group is an environmental NGO working to accelerate climate action to limit the global temperature rise to 1.5 °C.

When was Climate Week NYC 2021 taking place?

Climate Week NYC 2021 was held from 20 to 26 September.

What were the themes of Climate Week NYC 2021?

In 2021, Climate Week NYC was structured around 10 major themes: built environment, energy, industry, food, environmental justice, transport, finance, sustainable living, nature, and policy.

What activities were taking place during Climate Week NYC 2021?

The climate summit kicked off with an opening ceremony, which brought together government and business leaders to outline their commitments to climate action and find ways to continue moving towards meeting ambitious climate goals.

Climate Week also invited civil society to participate by organizing their own activities. In total, more than 500 events were held around the world virtually, as well as face-to-face activities in New York City.

What was the motto of Climate Week NYC 2021?

The 2021 motto was Getting it done.