News
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04/03/2024Iberdrola ranks among the top 100 companies worldwide in gender equality Iberdrola is one of the 100 companies included in the 2024 gender equality report and ranking prepared by Equileap, a leading organisation dedicated to promoting gender equality and diversity and inclusion in the corporate world. This firm evaluates 3,795 listed companies in 27 markets and representing more than 100 million employees. Thus, Equileap values the efforts being made by the electricity company chaired by Ignacio Galán in favour of gender equality. The aspects it evaluates include the presence of women at different levels of the company, salaries, social benefits, human rights, training and protection of employees in terms of diversity, among others. Iberdrola's inclusion in this index is in addition to its presence and high score achieved by Iberdrola in the main international sustainability indices, including the Dow Jones Sustainability Index, CDP, Moody's ESG, MSCI, FTSE4Good, Sustainalytics, ISS-ESG, Bloomberg GEI and EcoVadis, among others. Leader in sustainability In recent years, Iberdrola has consolidated equal pay between men and women and supports gender diversity not only in its Board of Directors, but also in its management positions. Increasing their presence is an objective that forms part of the company's strategic plan. Since 2013, Iberdrola has become one of the companies with the highest percentage of female directors among Ibex companies. It has 50% independent female directors on its Board of Directors and has set itself the goal of increasing the presence of women in management positions to reach 30% by 2025. Iberdrola has incorporated the Sustainable Development Goals (SDGs), defined by the United Nations for the 2030 horizon, into its business strategy and sustainability policy, and is a benchmark for its direct contribution to the global goals, highlighting its contributions in the field of energy and climate change. The company focuses its efforts on the supplying affordable and clean energy (goal 7) and on climate action (goal 13), Iberdrola contributes directly to ensuring clean water and sanitation (goal 6), and has increased its investment in R&D&I activities (goal 9). The company also promotes a sustainable use of terrestrial ecosystems (goal 15) and works to build partnerships to achieve the goals (goal 17). READ MORE
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01/03/2024His Majesty the King of Spain awards the Iberdrola training grants for the development of 'green jobs' His Majesty the King of Spain, accompanied by the Executive Chairman of Iberdrola, Ignacio Galán, took part in a day of support for young talent and excellence, during which he presented the Scholarships corresponding to different training programmes promoted by Iberdrola and its Foundation in Spain for 2023-2024. During the event, Galán thanked His Majesty the King for presiding over this event with which "every year we add 1,300 young people to our efforts to transform the energy sector, generate more industry and quality employment". "We want to invite the new generations to lead this change for the better and Iberdrola's model can help to achieve this", he said. This morning, men and women who are examples of success in different fields took the floor to share their experiences after receiving training thanks to the company's Master's scholarships and through the Impulsa Programme, the Electricians' School and the agreement signed between the electricity company and UNICEF, among others. Finally, the beneficiaries received from His Majesty the King the certificate certifying the award of the different grants launched by Iberdrola with the aim of promoting talent and encouraging excellence in the training of new generations. These are the programmes: * Iberdrola International Master's Scholarship Programme: with the current call for applications for Spain (9 scholarships); United Kingdom (14 scholarships), Brazil and Mexico, young people will boost their professional careers thanks to this line of financial aid. They will complete their postgraduate training at prestigious universities with future professional opportunities. * The 'Energy for Future' postdoctoral research programme (11 grants) benefits postdoctoral researchers for five years who will develop their work on technologies associated with the energy transition (photovoltaic and wind energy, electric vehicles, energy storage and smart grids) in collaboration with prestigious universities in Spain, the United Kingdom, Germany, France, the United States and Mexico. * The Fulbright Commission Scholarships (2 scholarships), a line of postgraduate scholarships in the United States in fields related to Iberdrola's activities in energy, environment and technology. * Scholarships awarded in collaboration with the Carolina Foundation (10 scholarships), a programme of postgraduate scholarships in Spanish universities to further the studies of university graduates from Latin America in subjects related to energy and climate change. * The Restoration Training and Research Scholarships with the Bilbao Fine Arts Museum and the Prado (5 scholarships) for young restorers in these internationally renowned art galleries. In addition, His Majesty the King also awarded certificates for: * STEM Development Grants (5 grants) to train young graduates or professionals so that they can have a positive impact on students from socio-economically vulnerable backgrounds. * The ICAI Scholarship programme (10 scholarships), aimed at financing university studies related to the energy sector for students with limited financial resources; and * Scholarships developed together with the Spanish Paralympic Committee (13 scholarships), aimed at facilitating the professional training of sportsmen and women with a view to their integration into the labour market once their career in sport is over. Furthermore, in a firm commitment by the Iberdrola group to promote young talent, 468 places have been offered in the three calls of its International Graduate Programme (2021-2023). At this event, certificates will also be awarded to 14 representatives of the group of graduates of the 2022 edition. On the other hand, and as sign of Iberdrola's interest in training young people, in 2023 the company has incorporated 1,011 young trainees who have been able to take their first professional steps in a leading company in the energy sector and develop new skills and abilities that will help them to boost their future employment. In this regard, more than 30,000 young people have joined Iberdrola in the last decade, some of whom did so thanks to a scholarship and are already occupying important positions in the company. In addition to the young scholarship recipients, the event was attended by the writer Espido Freire and the Spanish astronaut, Sara García Alonso. The event was attended by the Minister of the Interior, Fernando Grande-Marlaska; the ambassador of the United Kingdom of Great Britain and Northern Ireland in Spain, Hugh Elliot; the ambassador of the Federative Republic of Brazil in Spain, Orlando Leite, as well as members of Iberdrola's Board of Directors and executives. Iberdrola continues to have a pull effect on thousands of suppliers with its investments and purchases of around 18,000 million euros, with which it supports more than 400,000 jobs throughout its value chain. Moreover, through this activity, the company has contributed more than 9.3 billion euros to the public coffers in 2023. In the company, talent is promoted, attracted, identified and managed in different processes and programmes managed through its Foundation in Spain and its Talent area . READ MORE
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29/02/2024The 1st Sustainable Legal Advice Forum is born with the support of Iberdrola, Inditex, Santander and The first Forum of Sustainable Legal Advice promoted by Iberdrola, Inditex, Santander and Telefónica was held today at the Iberdrola Campus in San Agustín de Guadalix. The Forum aims to create a space for the legal sector of large companies to reflect on legal and sustainability issues under ESG (Environment, Social and Governance) criteria. The event brought together the legal departments of four large IBEX35 companies together with the country's leading law firms, law schools, business schools, as well as legal advice from other companies. This forum is the first event of its kind to be certified as a sustainable event by the accreditation company AENOR. This is a new initiative that aims to consolidate a permanent forum of reference for debate and a meeting point in the Spanish legal sector on issues of common interest as well as to share experiences in the creation of best practices in in-house legal advice within the sustainability strategy of the companies to which they belong. Sustainability, in the broadest sense of the term, is a determining factor in the competitiveness of companies and their long-term growth potential. Society values these commitments, which are also necessary for the preservation of nature and the fight against climate change; responsibility and commitment to people and society, as well as to compliance and development of regulations. Legal advice incorporates the concept of sustainability to contribute, from the legal field, to the sustainability strategies of their companies. Sustainable governance also requires, among other priorities, that all legal service providers comply with sustainability policies and are aligned with the culture of their clients. The legal advisors of the future are improving their work and information systems with the use of technology and the digitisation of their decision-making processes and establishing reporting schemes that include ESG criteria. This culture has an impact on the profile of the lawyer of this new era, who, in addition to their advice, seeks to generate a positive impact on society and collaborate with the social and sustainable strategies of their companies. For Santiago Martínez Garrido, Iberdrola's General Secretary and Secretary of the Board, "the challenges of sustainability and digitalisation of the current era require companies like Iberdrola – which have the technological capacity to do so – to be the drivers of a necessary and essential change to achieve carbon neutrality. For this, those who have the capacity to implement it are the most responsible. Legal advisors cannot be left out. From Iberdrola's General Secretariat, we are promoting more than 25 projects and among them I would like to highlight the digital transformation projects and the probono programme that we have been developing". For Javier Monteoliva, General Secretary and Secretary of the Board of Inditex, "sustainability is deeply rooted in Inditex's business model. For more than 20 years we have been adapting the company to consider the impact of each process, with the Legal Department providing coverage and integrating itself in all the initiatives of our company to advance towards an increasingly sustainable value chain. It is a challenge that we face today through innovation and collaboration – both among our different teams and with many other actors, suppliers, partners...". Jaime Perez Renovales, Santander’s General Secretary and Secretary of the Board, said: "The role of legal advisors in the Bank's sustainability strategy is increasingly relevant; both because of the increased regulation in this field, as well as the fragmentation and sometimes disparity of ESG regulations. The increasing use of technology is enabling us to accelerate the transformation needed to improve the response to new challenges, and to implement much more efficient processes so that there is an exponential improvement in our performance as lawyers. This enables legal teams to deliver value to the business and optimally manage legal risk." Pablo de Carvajal, Secretary General and Secretary of the Board of Directors and Global Head of Regulation at Telefónica, stated: "Sustainability has been a cross-cutting commitment at Telefónica for 20 years which, aligned with the SDGs in its three levers, allows us to link business success and growth to the well-being of the planet and society. The relationship between digital transformation and sustainability is clear. For this reason, at Telefónica's legal department we are proud of our firm commitment to legal digital transformation – a lever for improving the efficiency, quality and accessibility of legal services. This has crystallised in our 360 LegalX tool, to which we are now looking to incorporate generative AI. We were one of the first companies to provide ourselves with ethical guidelines for AI, which will, without any doubt, also guide our in-house lawyers in its application". Likewise, the British think-tank RSGI, which participated in the Forum with an inspirational talk, applauded the initiative of these four companies for the innovative concept of sustainable legal advice. They also highlighted the importance of events of this type to boost the commitment of these areas in their contribution to the sustainability strategy of the companies in which they work. The law firms participating in the roundtables were Écija, Allen&Overy, Clifford Chance, Garrigues, Uría Menéndez, CMS, Cuatrecasas, Pinsent Masons and Adarve, who stressed that compliance with ESG criteria is a priority objective for the firms. Commitment to sustainability In this first edition of the Forum, the participating companies and law firms have confirmed their commitment to sustainability, through the monitoring of ESG criteria in the development of their activity, including the application of measures that reduce environmental impact – with special emphasis on the use of technology. Especially, by promoting the digitisation of work processes and methodologies related to the key functions of legal advice. From an environmental point of view, they have also set out the roadmap for the sustainable and efficient use of resources used by the legal profession in accordance with the sustainability plans and strategies implemented by the companies to which they belong. Especially with the implementation of measures that contribute to the reduction of the carbon footprint. On the social side, we are committed to diversity, equity and inclusion measures in our work teams. We promote professional progress and encourage the involvement of professionals in activities with a social impact in order to make legal value available to society. In terms of governance, sustainability and compliance with ESG criteria for stakeholders were discussed, with special emphasis on the evolution of shareholder involvement in the life of the company and the different channels of permanent information. They also discussed the need to address a model of general meetings in line with the possibilities offered by technology. __ The 1st Sustainable Legal Advice Forum is the first event of its kind to be certified as a sustainable event by the accreditation company AENOR. Iberdrola is a pioneer in the management of sustainable events: in 2016 it became the first IBEX 35 company to certify the General Shareholders' Meeting as a sustainable event – in accordance with the ISO 20121:2012 standard –, extending the scope in 2022 with the Results Presentations and the Capital Markets & ESG Day. READ MORE
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27/02/2024Iberdrola strengthens its presence in Italy and will build the largest solar plant in the country Iberdrola has signed an agreement with IB Vogt for the construction of a 245 MW photovoltaic project in Sicily, to which a further 60 MW could be added, bringing the total to 305 MW. In any case, the initial project has sufficient capacity to cover the needs of more than 140,000 families with emission-free green energy, which is a population similar to that of Catania. The project, called Fenix, will start construction in March and will mark an unprecedented event in the Italian energy landscape as the largest photovoltaic project under construction in the country. Italy currently has only 60 plants of more than 10 MW, and the average project is 26 MW. When operational, with its 424,638 photovoltaic modules, the plant will generate around 400 GWh per year, avoiding the emission of 119,000 tonnes of CO2 into the atmosphere. In addition, it is expected to create direct local employment for around 500 workers during the construction phase and more than 100 permanent jobs during the commercial operation phase. The agreement for the construction of Fénix consolidates Iberdrola's growth in Italy and its contribution to the country's energy security. In addition, this type of facility supports the decarbonisation path of large industrial customers through the supply of renewable energy through the sale of long-term power contracts. "This is a further step in Iberdrola's growth in Italy," says Valerio Faccenda, Country Manager of Iberdrola Renewables in Italy, who highlights how the company "has undoubtedly laid a solid foundation to achieve the 2030 and 2035 targets, with a 100% renewable portfolio of more than 115 wind, photovoltaic and storage projects in advanced stages of development with a total capacity of 5 GW". Strong presence in Italy In 2022, Iberdrola commissioned its first 23 MW PV plant in Italy, in Montalto di Castro, Lazio. In the same region, the company completed its second 7 MW solar plant in Montefiascone in 2023 and began construction of another 32 MW solar plant in Tarquinia. In addition to the Fenix project, two other solar plants, Limes 10 and Limes 15, of 18 MW and 36 MW respectively, will start construction in the first half of 2024, while three other projects are planned for the second half of the year and already have all the necessary authorisations. In total, the multinational, Europe's leading electricity company in terms of share capital and second in the world, will have 330 MW under construction in Italy in 2024 and another 40 MW in early 2025, reaching an installed capacity of 400 MW and placing it among the leading renewable operators in the country. READ MORE
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26/02/2024Iberdrola closes the sale of 55% of its business in Mexico for $6.2 billion Iberdrola has closed the sale of 55% of its business in Mexico for around $6.2 billion dollars (about €5.8 billion). The transaction includes the sale of 13 generation plants with an installed capacity of 8,539 MW. Around 99% of the plants are gas-fired combined cycle power stations, with 87% operating under the Independent Power Producer regime, contracted with the CFE. Specifically, the plants included that operate contracted to the CFE under the regime of Independent Power Producers are: * Monterrey I and II: 449 MW * Altamira III and IV: 1,096 MW * Altamira V: 1,155 MW * Escobedo: 878 MW * La Laguna: 537 MW * Tamazunchale I: 1,179 MW * Baja California: 324MW * Topolobampo II: 917 MW * Topolobampo III: 766 MW * La Venta III wind farm: 103 MW Additionally, the sale also includes the private combined cycle gas plants of Monterrey III and IV (477 MW), Tamazunchale II (514 MW) and Enertek (144 MW). The 460 employees working at these facilities will become part of the trust led and managed by MIP (Mexico Infrastructure Partners). In total, the divestment is equivalent to 55% of Iberdrola’s gross operating profit (EBITDA) in the country, including the associated contracts and the 460 jobs linked to the operation. Iberdrola will retain 15 plants, all of its private customers and its portfolio of renewable energy projects and pipeline to continue increasing its wind and solar assets in the country in the coming years. The divestment has been closed in accordance with the terms agreed last June and is in keeping with Iberdrola’s strategy to continue delivering on its ambitious decarbonisation commitments. The operation had the financial support of the National Infrastructure Fund of Mexico (Fonadin), other public financial entities linked to the Government of Mexico and private finance groups. As part of the agreement, Iberdrola has signed power purchase agreements with the trust, led and managed by MIP, as well as a contract for the provision of transitional services for the temporary management of the assets sold. Commitment to the country's decarbonization Iberdrola has a portfolio of more than 6,000 MW of renewable projects in the country, of which more than 2,000 MW could be developed in the next five years. The company aims to continue growing by providing clean energy for its private customers and contributing to Mexico's renewable development. In April 2023, the Executive Chairman of Iberdrola, Ignacio Galán , and the President of the Government of Mexico, Andrés Manuel López Obrador, announced the initial memorandum of understanding between Iberdrola Mexico and MIP, which has now been closed. Both leaders pledged to advance the development of renewable energy in the country, which Iberdrola has already started to deliver on. The company’s new 105 MW Santiago wind farm was completed in September 2023. Through its new investments in Mexico, Iberdrola will reaffirm its leadership in the development of renewable energy, contributing to the country's energy transition process. READ MORE
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22/02/2024Iberdrola sets a new investment record (€11.38 billion), driving net profit of €4.8 billion (+10.7%) . READ MORE
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21/02/2024Iberdrola to chair the Corporate Leaders Group of the European Union The Corporate Leaders Group (CLG), the leading business alliance for a green economy in Europe, has appointed Gonzalo Saenz de Miera, Iberdrola's Director of Climate Change and Alliances, as Chairman for a two-year term. CLG, one of the most influential business organisations in energy and climate policy in the European Union according to Influence Map, argues that climate action and energy transition are, thanks to the technological revolution in clean solutions over the last 10 years, a key lever for improving competitiveness for our industries and a source of prosperity and development for society. Europe has a large part of the technologies to undertake this transition. Also, companies are willing to invest and what is needed are specific public policies to stimulate and protect that move the economy in this direction and work together and in a coordinated manner in alliances with political parties, NGOs, trade unions, etc. As Chair, Saenz de Miera will lead the institutional representation of GLG in the main European and international forums in the field of climate change and energy transition, will make visible the opportunities for value creation and employment derived from the green economy and will defend ambitious and coherent policies in two key years for the European economy, given the electoral context during 2024 and the beginning of a new European legislature. READ MORE
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19/02/2024Iberdrola and Exiom will inaugurate Spain's first large solar panel factory in spring Iberdrola España and the Asturian business group Exiom continue their steps towards the definitive opening of the photovoltaic module factory in Asturias. The first large solar panel factory in Spain is scheduled to start up next spring. Among the most significant recent developments, those standing out are the arrival, assembly and installation of specialised equipment for its manufacture. This is complex, heavy, high-volume machinery, prepared inside the factory in several batches of equipment. The project responds to the effort undertaken by Iberdrola and Exiom to attract part of the value chain linked to renewable energies to our country. Specifically, solar energy. The aim is to make Spain a spearhead for leading this emerging sector in Europe. The opening of this new factory in Europe responds to the interest of both companies in achieving a competitive manufacturing at EU level, focused in a first phase on solar panels with the possibility of extending the collaboration to other components of the photovoltaic value chain. Iberdrola España's commitment to a sustainable energy model is part of its PERSEO program to promote the development of start-ups and innovative industrial companies working in new areas of electrification and in sectors that are difficult to decarbonise. Since its creation in 2008, PERSEO has invested €175M in businesses that develop innovative technologies, focusing on those that will improve the sustainability of the energy sector through further electrification and decarbonisation of the economy. You can read the full news in the Iberdrola España Press Room. READ MORE
