The Driving Ideas of the Governance and Sustainability System
Driving Ideas of the Governance and Sustainability System
Leadership in sustainability, corporate governance and transparency and an ethics-based culture are hallmarks of the identity of IBERDROLA, S.A. (the “Company”).
The Company’s Board of Directors therefore regularly reviews the Governance and Sustainability System, keeping it updated and including therein the good governance recommendations and best practices generally accepted in international markets.
In order to facilitate the dissemination of the content thereof and to assist in searching by subject matter, symbols are included together with each rule or policy that identify the main “driving ideas” contained therein:
The sustainable creation of long-term value governs the Company’s actions, reflecting its aspiration to contribute to the implementation of a value chain that is respectful of the environment, transparent and ethical within the framework of a culture of excellence, and permits even-handed remuneration of the groups contributing to the success of its business enterprise. In this way, the sustainable creation of long-term value drives the social dividend that the Company shares with its Stakeholders, consistently with its institutional nature and in accordance with its purpose and values, as well as with its commitment to efficiency.
In terms of safety, security and operational resilience, the Company establishes rules and develops instruments that enable it to achieve a position of leadership in innovation, transformation and the responsible use of artificial intelligence in the energy sector, strengthening its competitiveness and development in the markets in which it operates.
Regulations or policies that promote this driving idea:
Introductory Book
- Purpose and Values of the Iberdrola Group
- Ethical and Basic Principles of Governance and Sustainability of the Iberdrola Group
Book One. By-Laws and Corporate Organisation
- By-Laws
- Regulations of the Board of Directors
- Regulations of the Sustainable Development Committee
Book Two. Corporate Policies
Transparency and Good Governance
- Sustainable Development Policy
- Stakeholder Engagement Policy
- Senior Management Remuneration Policy
- Corporate Tax Policy
Human and Social Capital
- Policy on Respect for Human Rights
- Sustainable Human Capital Management and Anti-Harrassment Policy
Natural capital
- Policy on Management and Protection of Nature
- Climate Action Policy
- Biodiversity Policy
Sustainable Value Chain
- Competition Policy
- Purchasing Policy
- Operational Resiliency Policy
- Iberdrola Brand Policy
- Corporate Reputation Policy
- Security Policy
- Personal Data Protection Policy
- Policy on the Responsible Development and Use of Artificial Intelligence Tools
- Innovation Policy
- Quality Policy
- Digital Technology Policy
- Occupational Health and Safety Policy
Book Three. Internal Audit, Risks and Compliance
Compliance
- Code of Conduct for Directors, Professionals and Suppliers
The Company is committed to interaction with its various Stakeholders and to actively listening to them in order to encourage their engagement in corporate life, maintaining a direct, fluid, transparent, constructive, diverse, inclusive and intercultural dialogue.
In particular, the Company considers the effective, permanent, constructive and sustainable engagement of its shareholders in corporate life throughout the year to be a primary objective, and it proactively and constantly seeks interaction with them in order to encourage their sense of belonging through a dialogue that allows for an understanding of the shareholders’ interests by the Company and of corporate information by the shareholders.
Regulations or policies that promote this driving idea:
Introductory Book
- Purpose and Values of the Iberdrola Group
- Ethical and Basic Principles of Governance and Sustainability of the Iberdrola Group
Book One. By-Laws and Corporate Organisation
- By-Laws
- Regulations for the General Shareholders Meeting
- Regulations of the Board of Directors
- Regulations of the Sustainable Development Committee
- Regulations for the Electronic Shareholders’ Forum
Book Two. Corporate Policies
Transparency and Good Governance
- Corporate Governance Policy
- Sustainable Development Policy
- Stakeholder Engagement Policy
- Ongoing Shareholder Engagement Policy
- Shareholder Remuneration Policy
- Policy Regarding Communication and Contacts with Shareholders, Institutional Investors and Proxy Advisors
Human and Social Capital
- Sustainable Human Capital Management and Anti-Harrassment Policy
Natural capital
- Policy on Management and Protection of Nature
- Climate Action Policy
- Biodiversity Policy
Sustainable Value Chain
- Iberdrola Brand Policy
- Corporate Reputation Policy
- Policy on the Responsible Development and Use of Artificial Intelligence Tools
Book Three. Internal Audit, Risks and Compliance
Compliance
- Code of Conduct for Directors, Professionals and Suppliers
The corporate and governance structure and Business Model of the Iberdrola Group are based on a recognition of its multinational and multi-corporate character, which is diversified, organised efficiently and coordinated around the Company, the country subholding companies and the head of business or country companies. All of them are subject to basic common guidelines and the principle of subsidiarity, which seeks a balance between decentralised management and the exploitation of the synergies that arise from belonging to the Group, allowing for the separation of the duties of strategic definition, organisation, coordination and supervision and the day-to-day and effective management of the businesses.
Regulations or policies that promote this driving idea:
Introductory Book
- Purpose and Values of the Iberdrola Group
- Ethical and Basic Principles of Governance and Sustainability of the Iberdrola Group
Book One. By-Laws and Corporate Organisation
- By-Laws
- Regulations for the General Shareholders Meeting
- Regulations of the Board of Directors
- Regulations of the Audit and Risk Supervision Committee
- Regulations of the Appointments Committee
- Regulations of the Remuneration Committee
- Regulations of the Sustainable Development Committee
- Foundations for the Definition and Coordination of the Iberdrola Group
Book Two. Corporate Policies
Transparency and Good Governance
- Corporate Governance Policy
- Sustainable Development Policy
- Stakeholder Engagement Policy
- Board of Directors Composition and Member Selection Policy
- Corporate Tax Policy
Human and Social Capital
- Policy on Respect for Human Rights
- Sustainable Human Capital Management and Anti-Harrassment Policy
Natural capital
- Policy on Management and Protection of Nature
- Climate Action Policy
- Biodiversity Policy
Sustainable Value Chain
- Competition Policy
- Purchasing Policy
- Operational Resiliency Policy
- Iberdrola Brand Policy
- Corporate Reputation Policy
- Security Policy
- Personal Data Protection Policy
- Policy on the Responsible Development and Use of Artificial Intelligence Tools
- Innovation Policy
- Quality Policy
- Digital Technology Policy
- Occupational Health and Safety Policy
Book Three. Internal Audit, Risks and Compliance
Corporate Risks and Control
- General Risk Control and Management Foundations of the Iberdrola Group
- Basic Internal Audit Regulations
- Iberdrola Group Financial and Non-Financial Information Preparation Policy
- Statutory Auditor Contracting and Relations Policy
Compliance
- Code of Conduct for Directors, Professionals and Suppliers
- Compliance Policy
- Internal Reporting and Whistleblower Protection System
- Anti-Corruption and Anti-Fraud Policy
- Regulations of the Compliance Unit
The sustainable strengthening and management of human capital is part of the Company’s sustainability strategy. This responds to inescapable social challenges, objectives and goals, such as respect for human rights, the development of professional relationships based on equal opportunity and non-discrimination, the prevention of harassment and the firm intention to combat it, promotion of talent, merit and skill, appropriate knowledge management, professional development, and the balance between personal and professional life.
Regulations or policies that promote this driving idea:
Introductory Book
- Purpose and Values of the Iberdrola Group
- Ethical and Basic Principles of Governance and Sustainability of the Iberdrola Group
Book One. By-Laws and Corporate Organisation
- By-Laws
- Regulations of the Board of Directors
- Regulations of the Appointments Committee
- Regulations of the Remuneration Committee
- Regulations of the Sustainable Development Committee
Book Two. Corporate Policies
Transparency and Good Governance
- Corporate Governance Policy
- Stakeholder Engagement Policy
- Board of Directors Composition and Member Selection Policy
- Director Remuneration Policy
- Senior Management Remuneration Policy
Human and Social Capital
- Policy on Respect for Human Rights
- Sustainable Human Capital Management and Anti-Harrassment Policy
Sustainable Value Chain
- Policy on the Responsible Development and Use of Artificial Intelligence Tools
- Occupational Health and Safety Policy
Book Three. Internal Audit, Risks and Compliance
Compliance
- Code of Conduct for Directors, Professionals and Suppliers
- Compliance Policy
- Internal Reporting and Whistleblower Protection System
- Anti-Corruption and Anti-Fraud Policy
- Regulations of the Compliance Unit
The Company will continue to develop a leading position in contributing to the achievement of a real and global energy electrification that achieves the development of industry and the economy through the development of sustainable energy generated from renewable sources and network infrastructures, progressive traction on its respective value chains, the improvement of the circularity of its activity and the reduction of polluting emissions, gradually introducing in its facilities the most efficient and least carbon-intensive technologies in order to promote self-sufficiency and competitiveness. It will also seek to integrate climate action into its internal strategic planning and decision-making processes and to promote the reaction against climate change and the protection of the environment and biodiversity.
Regulations or policies that promote this driving idea:
Introductory Book
- Purpose and Values of the Iberdrola Group
- Ethical and Basic Principles of Governance and Sustainability of the Iberdrola Group
Book One. By-Laws and Corporate Organisation
- By-Laws
- Regulations of the Board of Directors
- Regulations of the Sustainable Development Committee
Book Two. Corporate Policies
Transparency and Good Governance
- Sustainable Development Policy
- Stakeholder Engagement Policy
Natural capital
- Policy on Management and Protection of Nature
- Climate Action Policy
- Biodiversity Policy
Sustainable Value Chain
- Innovation Policy
- Quality Policy
- Digital Technology Policy
The Company promotes a preventive culture based on the principle of “zero tolerance” towards improper conduct and acts that are illegal or contrary to law or the Governance and Sustainability System, as well as the application of ethical principles and principles of responsible behaviour that should govern the conduct of all members of its management decision-making body, professionals and suppliers. This culture inspires its effective, autonomous, independent and robust Compliance System, which is under continuous review in order to adopt practices and trends in accordance with the highest international good governance standards and regulatory requirements in this area.
The Company has a comprehensive risk management system that allows it to proactively identify both potential threats and vulnerabilities that could compromise its operations and security as well as anticipating and taking advantage of opportunities for sustainable growth. The comprehensive risk management system also manages and mitigates the risks associated with such hazards, thereby strengthening the Company’s Governance and Sustainability System and the Operational Resiliency Model.
Regulations or policies that promote this driving idea:
Introductory Book
- Purpose and Values of the Iberdrola Group
- Ethical and Basic Principles of Governance and Sustainability of the Iberdrola Group
Book One. By-Laws and Corporate Organisation
- By-Laws
- Regulations of the Board of Directors
- Regulations of the Audit and Risk Supervision Committee
- Regulations of the Sustainable Development Committee
- Foundations for the Definition and Coordination of the Iberdrola Group
Book Two. Corporate Policies
Transparency and Good Governance
- Corporate Governance Policy
- Sustainable Development Policy
- Treasury Share Policy
- Corporate Tax Policy
Human and Social Capital
- Policy on Respect for Human Rights
- Sustainable Human Capital Management and Anti-Harassment Policy
Sustainable Value Chain
- Competition Policy
- Purchasing Policy
- Operational Resiliency Policy
- Security Policy
- Personal Data Protection Policy
- Policy on the Responsible Development and Use of Artificial Intelligence Tools
- Occupational Health and Safety Policy
Book Three. Internal Audit, Risks and Compliance
Corporate Risks and Control
- General Risk Control and Management Foundations of the Iberdrola Group
- Basic Internal Audit Regulations
- Iberdrola Group Financial and Non-Financial Information Preparation Policy
- Statutory Auditor Contracting and Relations Policy
Compliance
- Code of Conduct for Directors, Professionals and Suppliers
- Compliance Policy
- Internal Reporting and Whistleblower Protection System
- Anti-Corruption and Anti-Fraud Policy
- Regulations of the Compliance Unit
- Internal Regulations for Conduct in the Securities Markets