Added value: social dividend

Behind Social Dividend can be found:

• Iberdrola's commitment to sustainable development.

• The contribution to the progress of the societies into which Iberdrola becomes integrated and in which it wants to be a motor for economic, social and environmental change.

• Share the success of Iberdrola's business project with all Stakeholders.

• The direct, indirect and induced impacts of Iberdrola activities for all Stakeholders.

• Iberdrola's response to the most relevant sector issues, the needs of its Stakeholders and the most important challenges faced by the communities in the countries in which it operates.

• Iberdrola's boost to the business communities in which it participates and leads from an economic point of view, from the perspective of business ethics, promoting a sense of belonging and justice, encouraging innovation and environmental care through generating quality employment that guarantees equal opportunities and non-discrimination in managing people, as well as leadership in the fight against climate change.

The following chart is a summary overview of the most prominent aspects of Iberdrola's creation of value in each of its six Stakeholders:
 

*PwC study “Economic, tax, social and environmental impact of the Iberdrola Group worldwide” (prepared with 2023 data) Download examples of how the group creates value for its Stakeholders [PDF]

We also highlight the best practices carried out in the countries in which Iberdrola has a presence: Spain, the United Kingdom, the United States, Brazil, and Mexico.

Community engagement: Creating sustainable value for all

Iberdrola maintains relationships with communities during all phases of a project and establishes dialogue channels through which the communities can communicate their expectations and needs.

Iberdrola continuously strengthen its involvement among the communities in which it operates through a Stakeholder Engagement process aligned with the principles set in the Stakeholders Engagement Policy and aimed at identifying potential human rights impacts and creating sustainable value for all. Stakeholders at project level may include potentially affected communities or individuals, as well as their formal or informal representatives, among others. Special attention is given to vulnerable groups including Indigenous peoples.

Stakeholders participation is key to guarantee projects' environmental, social, and economic performance during all its lifecycle (See Human Rights section). Therefore, meeting and engaging with them at an early stage allows Iberdrola to better understand their expectations and needs and include them at the centre of our decisions.

The Stakeholder Engagement process includes an identification of potentially affected Stakeholder, directly or indirectly, by the activity of the company and its projects - through environmental and social impact assessment. The Company has also developed its own Global Stakeholder Engagement Model, which is aimed at identifying the legitimate expectations of its Stakeholders.

Disclosure and dissemination of information is part of Iberdrola's projects' core engagement commitment to its Stakeholders. Therefore, Iberdrola has set up communication and engagement channels (i.e., community surveys, specific panels…) and other mechanisms at project level able to ensure that all Stakeholders, including those at in the surrounding of our facilities, are properly informed and are able to interact and communicate its expectations and concerns. Meaningful consultation is key to begin building the project’s community relations in a transparent and open-dialogue manner. Iberdrola considers Stakeholders’ opinions and expectations as a source of valuable information for continuous improvement. With the aim of collecting and processing the information gathered throughout the consultation process in a more efficient way, Iberdrola is currently developing a digital tool.

The company allows Stakeholders to reach out to the organization and communicate any concerns through different available channels and grievance mechanisms i.e., ethical mailboxes and other grievance mechanism at the project’s facilities. Each grievance is recorded, reviewed and assessed in order to identify the type of remedy process needed. Access to the Whistle Blower channel is also available. The channel follows guarantee the anonymity, confidentiality, and the prohibition of retaliation against the person who has made use of the channel. 

The company continues to focus on developing the Stakeholder Engagement strategy, therefore it has set an ambitious Stakeholder Engagement target as part of its Group’s 2024-2026 Strategic Plan related to the implementation of the Stakeholder Engagement Model at facility level.