Global engagement model with Stakeholders

Rising to the needs and expectations of our Stakeholders

Iberdrola Group has developed its own Stakeholder engagement model, which is aimed at catering to their legitimate needs and interests.

This model is inspired by widely acknowledged international standards (AA 1000 SES 2015) and sustainability indexes and is to be implemented by all Iberdrola group companies, business units and major sites using a shared digital application.

This model is based on an ongoing improvement process involving 10 phases:

Stakeholder engagement model of Iberdrola Group

This is an advanced and rigorous model structured into 10 phases that ensures a process of continual improvement

Identify Stakeholders

Established by the policy
Segment Stakeholders by categories

Based on daily management criteria
Prioritise Stakeholder categories

According to impact and influence on value creation
Define levels of engagement

Information, consultation, interaction or collaboration
Review channels for engagement

Evaluate existing channels and create new ones
Design engagement model

Best suited to each Stakeholder category
Identify relevant issues

For both Iberdrola and each Stakeholder category
Identify risks and opportunities

That help create value for Iberdrola and its Stakeholders
Design action plan

Initiatives in relation to the engagement model and relevant issues
Monitor and report

To analyse outcomes and report on performance

Stakeholder map
Engagement model
List of relevant issues, risks and opportunites
Action plan

Global Stakeholder engagement model of Iberdrola Group [PDF]

In relation to this model, Iberdrola has implemented numerous measures in recent years to foster an internal culture built on the importance of Stakeholder engagement across the entire Group.

These measures include the creation of a global working group known as the Iberdrola Stakeholders' Hub, made up of representatives of all Iberdrola Stakeholders and businesses at both the corporate and country levels. The hub holds regular meetings which sometimes include external experts on this subject.

Iberdrola is also encouraging the creation of Stakeholder panels to enable direct discussions with Stakeholders, such as the Networks business panels in the UK and the Stakeholders Panel on CSR.

Reputation, an intangible asset

Iberdrola Group considers reputation to be an intangible asset of great value, which influences aspects as important as attracting and retaining talent, commercial relations with customers, the valuation of capital markets, and integration into communities, affecting both long-term sustainability and corporate resilience.

Reputation management is carried out by all of Iberdrola's areas and businesses, with two elements standing out:

Proactive stakeholder management through the application of the Global Engagement Model with Stakeholders, which enables us to ascertain expectations, needs and impacts, and to analyse risks.
The communication plans, the ESG Goals and the numerous specific actions of Iberdrola's areas and businesses, focused on each of the company's six IGs.

Iberdrola reviews and updates its Reputational Risk Framework Policy annually, which is the main reference for controlling and managing this risk.

Furthermore, the company has internal procedures and working groups to respond to possible reputation crises, which define the management model, procedure and responsibilities in managing these aspects − in order to guarantee a rapid, coordinated and effective response based on transparent and effective communication.