News
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01/02/2021Iberdrola launches a new call for applications for its master's scholarships in Spain, United Kingdom and Mexico Iberdrola has launched a new call for applications for master's scholarships for the 2021-2022 academic year, with the aim of promoting excellence in training the next generations and promoting the employability of young people in the sectors of the future, especially those that are linked to the energy transition and digital transformation. This year, Iberdrola is focusing on graduates and students in the last year of their degree studies in Spain, United Kingdom and Mexico who want to complete their studies in areas related with engineering, electric mobility, big data, the environment and climate, among others. This year, a total of 35 candidates will be selected for this programme, which will have a total allocation of close to one million euros. Interested parties can submit their applications on the Talent section of the group's website. The beneficiaries of these latest scholarships will join the nearly 1,000 students who have already enjoyed Iberdrola scholarships in recent years. When evaluating the candidates, in addition to academic qualifications and language proficiency, other factors will be taken into account, such as their CV, the area of interest for the research project and their references. After they pass the pre-selection stage, the company will conduct a personal interview with the candidates to evaluate their personal situation, overall education and motivation. An additional incentive in Iberdrola's call for applications for scholarships is the possibility of becoming an intern with the company. In 2019 alone, Iberdrola took on more than 1,400 interns, who had the opportunity to share in the work of one of the world's leading energy companies. Scholarships for Master's Studies - Spain Iberdrola plans to award 8 new scholarships to Spanish students or residents for master’s degrees in Spain, the United Kingdom or the United States during the 2021-2022 academic year. Those selected will be able to study on outstanding campuses, such as Universidad Pontificia Comillas, Universidad Carlos III in Madrid, Universidad Politécnica de Madrid, Universidad del País Vasco, Universidad Politécnica de Valencia, Universidad de Salamanca, the University of Edinburgh, The University of Strathclyde, Imperial College London, the University of Connecticut and the University of Rochester. The scholarship will cover the cost of tuition and an additional annual grant for transport and accommodation expenses worth between €10,800 and €24,000 will be awarded, depending on whether the master’s course is in Spain, the United Kingdom or the United States. In the last of these countries, a travel scholarship of €1,500 will be added to cover the cost of a round-trip transatlantic flight. Scholarships for Master's Studies - United Kingdom Iberdrola is also announcing 12 scholarships for postgraduate studies in the United Kingdom for the 2021-2022 academic year. The scholarship will cover the cost of tuition and will award £14,400 per year to cover expenses. Successful applicants will be able to study at prestigious British universities, such as the University of Cambridge; Imperial College London; the University of Edinburgh; Herriot-Watt University; University of Stratchclyde; University of Glasgow; Glasgow Caledonian University; University of Liverpool; Liverpool John Moores University; Bangor University; Wrexham Glyndwr University and the University of East Anglia. Scholarships for Master's Studies - Mexico Iberdrola is also offering 15 scholarships to students who are Mexican citizens or residents to cover postgraduate studies in Mexico for 2021-2022. These scholarships, which were awarded in last year's call for applications, are valid for two academic years. Those selected in 2020 have had the opportunity to study on campuses like the Instituto Tecnológico y de Estudios Superiores de Monterrey, Universidad de Anahuac and Universidad Panamericana. The scholarship covers the cost of tuition and includes up to 21,000 pesos per month for living expenses, transport and accommodation, depending on the selected student's place of residence and the location of the master's degree. READ MORE
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29/01/2021Iberdrola promotes ESG criteria among its more than 22,000 suppliers worldwide ESG criteria -environmental, social and governance- are in Iberdrola's blood and are part of its business model. After reformulating its governance and sustainability system around these three pillars, the company has decided to go a step further and extend this commitment to its more than 22,000 suppliers worldwide, from which it makes purchases worth 20 billion euros a year. The group led by Ignacio Galán has set a target that 70% of its more than 1,000 main suppliers worldwide, those with a turnover with the company of more than 1 million euros, will be governed by ESG criteria by 2022. To this end, it has created a model which has been validated by a third party, and a digital platform developed by the Spanish scale-up GoSupply, in which the company's suppliers can self-assess their performance in this area. Based on 47 factors, this system measures the degree of commitment to the three ESG principles, with 40% weighting given to the environment, 30% to social affairs, and 30% to good governance. For those members of Iberdrola's supply chain that obtain a low score, the company will provide them with support to detect areas for improvement and will propose a customised action plan to implement policies, commitments and actions that enable them to comply with internationally established ESG criteria. Those suppliers that do not manage to adapt to ESG requirements within a reasonable period of time will be excluded from future tenders until they reach the minimum levels established to become an Iberdrola collaborator. In this way, Iberdrola not only acts as an economic and industrial driver in the territories in which it operates, but also as a catalyst for sustainability throughout its value chain. The group's commitment to ESG criteria and their extension to its main suppliers is also reflected in the company's management and remuneration model, having included this scale in the evaluation of the 2020-2022 Strategic Bonus, approved at the last General Shareholders' Meeting. The remuneration plan is linked to the increase in the number of suppliers subject to sustainable development policies and standards, such as having a human rights strategy, a code of conduct for its suppliers, health and safety standards (SDG 3) and a global environmental sustainability strategy, including strategies on water (SDG 6), energy (SDG 7) and biodiversity (SDGs 14 and 15). An ESG momentum plan is already underway Iberdrola considers that a long-term strategic supplier must be aligned with its sustainable development standards, and the model established in 2019 evaluates the supplier in the three ESG areas. In the environmental area, it is valued, among other aspects, that the supplier has a policy in this regard, that it calculates its greenhouse gas emissions, that it has identified the risks of climate change and that it takes measures to conserve biodiversity and minimise the use of water. In the social area, aspects related to respect for human rights, promotion of equality and respect for diversity, and application of occupational health and safety standards are valued. And in the area of governance, it is valued that the supplier has its own code of conduct, compliance system, social responsibility policy, also assessing aspects relating to its stakeholders and supply chain. Although Iberdrola has focused its efforts on driving its main suppliers towards best sustainability practices, all suppliers that have a significant relationship with the company are being evaluated according to the ESG model, and the GoSupply platform already includes more than 5,500 suppliers with a 360 sustainability analysis. This effort has meant that in 2020, 90% of the amount awarded went to suppliers that had been evaluated in terms of sustainability. Of the more than 1,000 main suppliers with which the company estimates it will sign relevant contracts until 2022, most are Spanish companies (27%) or US companies (29%), with the rest distributed among the other geographies in which it operates: Brazil (20%), United Kingdom (15%), Mexico (5%) and other countries. As explained in its first Diversity and Inclusion Report, Iberdrola also encourages purchases from companies that are less than 5 years old, demonstrating its support for entrepreneurship. Likewise, it is committed to increasing purchases from companies with diverse groups and help small companies that may be at a disadvantage when competing in international markets. In Spain and the United States, the volume of purchases from different collectives groups rose to 95.3 million euros in 2019. READ MORE
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28/01/2021“Climate action is required to combat global emergency” Chairman Ignacio Galán was interviewed by CNBC´s Davos Dialogues to discuss the company’s sustainability commitments as the world moves forward to overcome the challenges we are facing. Galán spoke about the investment outlook for the company and the need for businesses to be ambitious in setting decarbonisation target. During the converastion, Galán highlighted the following ideas: * All the world’s major risks, including the pandemic and climate change, are interconnected, and we need to work together to solve them. Global problems require global solutions. * Investing in a green recovery and sectors promising future growth will accelerate structural changes in our economies to make them more resilient, more competitive and more sustainable in the long term. * Iberdrola is investing in green technologies that will drive the energy transition as well as in enhancing the grid networks which are necessary to connect renewable energy and meet climate challenges. The company will multiply by 2 its renewable capacity by 2025, to reach 60,000 MW, and will triple it by 2030. READ MORE
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28/01/2021Iberdrola, the first European utility and IBEX-listed company to get approval for its global privacy and data protection standards The Spanish Data Protection Agency (AEPD) has approved the Iberdrola Group’s Binding Corporate Rules (BCRs), making it the first European utility and IBEX-35 company to secure this additional protective mechanism in line with the new General Data Protection Regulation (GDPR). Binding Corporate Rules are a mechanism put in place under the GDPR to enable a group of companies to make international personal data transfers to subsidiaries based outside the European Economic Area whose level of personal data protection is not guaranteed to be equivalent to EU standards. Applying European standards in 15 markets In its daily business, Iberdrola processes and transfers a vast amount of personal data internationally to various companies it works with in 15 different markets. Approving these BCRs reinforces the Group’s commitment to privacy and data protection by applying a model based on this European regulation in all countries, as well as by showing full respect for the fundamental rights of intimacy and privacy, not only in its European companies, but also elsewhere. READ MORE
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28/01/2021Iberdrola joins the launch of the 'Race to Zero Breakthough' initiative to achieve a zero-emission economy by 2050 As a leading company in the fight against climate change and in support of the global climate agenda, Iberdrola has joined the launch of Race to Zero Breakthough, an initiative promoted by the United Nations climate champions1, the president of COP26 Alok Sharma and the president of COP25 Carolina Schmidt, together with the executive secretary of the UNFCCC, Patricia Espinosa, as part of the agenda for the World Economic Forum in Davos. Race to Zero Breakthough sets out specific, short-term tipping points for more than 20 sectors that make up the global economy in the context of a strategic plan that businesses, governments and civil society can join before COP26 . Overall, the initiative sets out what key actors need to do and when in order to achieve the sectoral changes needed for a resilient, zero-carbon future by 2050 at the latest. The driving forces behind this initiative such as Iberdrola consider that there is an indisputable need to prioritise economic recovery measures that allow progress to be made towards an emission-neutral economy. To meet this challenge, the initiative calls for those actors representing 20% of their sector to commit to each breakthrough so that during the UN climate negotiations at the COP in Glasgow in November, local governments, businesses and investors will have made progress in at least 10 economic sectors. COP26 President Alok Sharma said: “It is vital businesses become zero emitting companies as part of the fight against climate change. That's why we hope that all the sectors will reach a point where clean business becomes the norm. Because if all the sectors do their part, we will see the global economy on the right path to zero emissions by 2050. To achieve economy-wide transformation, cities, regions and private sector leaders will need to work collaboratively and commit their skills, ingenuity and resources to achieving these advances. In this context, Gonzalo Muñoz, climate champion for COP25 commented, “we cannot win Race to Zero by running alone. Only if we all work together in the transformation can we improve the sectors of our global economy for a healthy, resilient and carbon-free future. These sectoral breakthroughs will allow us to go further and faster in our drive towards zero emissions”. Industry leaders take up the challenge Race to Zero Breakthough has been supported by six companies that are leaders in their sectors and in their ambition and commitment to the fight against climate change, including Iberdrola. Iberdrola Chairman Ignacio Galán, said this project “is a great example of the power of collective action against climate change. By joining forces, actors from all geographies and sectors can multiply the effectiveness of our individual engagement and find new collaborative solutions. The electricity sector has a key role to play if we are to accelerate the path towards a more sustainable, secure and competitive energy supply and, in this context, Iberdrola has launched its 75 billion euros investment plan which aims to boost the energy transition. We support this ambitious initiative and are ready to work together with the UNFCCC, COP26 and the WEF on its implementation”. A path to joining forces The aim of Race to Zero is to mobilise and unite efforts by cities, regions, businesses and investors to promote a carbon-neutral, healthier and more resilient recovery. The ultimate goal of this initiative is to achieve an emissions-neutral economy by 2050. This will reduce future threats associated with the repercussions of climate change and contribute towards creating quality employment and help shape a strong path towards sustainable and inclusive growth. The driving forces behind this initiative, such as Iberdrola, consider that there is an unquestionable need to prioritise economic recovery measures that allow progress towards an emission-neutral economy, with the transformations that this implies in sectors such as energy, with the deployment of renewables, the electrification of transport, etc. Iberdrola - a presence in the main climate discussions and alliances Iberdrola has supported international negotiations on climate change by taking part in all the Climate Summits and global climate agenda milestones with special emphasis since the Paris COP 21. Its Chairman and CEO, Ignacio Galán, supported the Paris Agreement with his presence at the signing ceremony held at the United Nations Headquarters in April 2016. The company forms part of the main global climate alliances such as We Mean Business, the World Business Council For Sustainable Development, and the Climate Ambition Alliance and Business Ambition for 1.5°C, both present at the embryo of Race to Zero. Galán was also one of the first business leaders to support the objective of reaching zero net emissions by 2050, both in the global context and at the European level, positioning himself at the very head of the most ambitious climate policies. 1 Figures driving action on climate change and public participation in the global climate agenda initiatives. READ MORE
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27/01/2021Iberdrola is included in the Bloomberg Gender Equality Index for the fourth year in a row Iberdrola remains a benchmark in terms of equal opportunities, as evidenced by its inclusion in the Bloomberg Gender Equality Index (GEI) for the fourth consecutive year, which today released the results for the 2021 index. The group has improved its ranking compared to the previous year, thanks to its drive for continuous improvement and the introduction of new equality measures. In fact, during 2019, the year that the latest GEI evaluates, Iberdrola achieved wage equality between men and women, as stated in its first Diversity and Inclusion Report. Equal pay is one of the five strands that Bloomberg analyses when compiling this index, along with women's leadership and talent management, inclusive culture, the existence of sexual harassment policies and the role of women in their brand. In total, Iberdrola has demonstrated its good performance over 74 parameters. To compile this index, which includes 380 companies from 11 business sectors, Bloomberg analyses the data from more than 11,500 companies from all over the world, with capitalisations of more than 1 billion dollars. With its methodology, it seeks to provide transparent and comparable information to investors interested in environmental, social and governance (ESG) criteria. In the case of Iberdrola, the ESG rated the disclosure of information related to diversity and equal opportunities very positively. As stated in its Diversity and Inclusion Report, these two aspects are considered a strategic priority for the company's sustainable growth. In the area of gender equality (Sustainable Development Goal 5 of the 2030 Agenda), Iberdrola has undertaken ambitious commitments. For example, the company plans to increase the presence of women in management positions to 30% by 2025, up from 20% in 2019. Over the past five years, significant progress has been made in this field - despite fewer women being attracted to the sector -with the number of women in management positions increasing by 31.3%. READ MORE
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27/01/2021Iberdrola wins 243 MW in the renewables auction with its innovative photovoltaic plants As a pioneer and world leader in the renewable energy sector, Iberdrola has been awarded 243 MW of photovoltaic power in the renewable energy auction organised by the Ministry for the Ecological Transition and Demographic Challenge. The photovoltaic plants are grouped into seven blocks located in areas with especially high solar production and have transmission synergies that are common to the grid. As the successful bidder in the auction, Iberdrola obtains an assured price for the production from these assets for 12 years; a formula that will be added to the sale of the electricity produced by the other facilities in its development portfolio to retail customers, the wholesale market and bilateral contracts (PPAs), thereby configuring a risk management tool for future investments. The company currently has 1,800 MW of photovoltaic and wind projects under construction in Spain, including the largest photovoltaic plant in Europe, Francisco Pizarro, with a 590-MW installed capacity, and it has a portfolio of 11,700 MW in the country. In Spain, it is the leader in the renewable sector with an installed capacity of 16,700 MW, which will increase to 25,000 MW with its investment plan up to 2025. Iberdrola is certain that electrification and the energy transition can be a driving force in the transformation of the industrial sector and for a green recovery in the economy and the job market. Which is why the company has launched an unprecedented investment plan worth 75 billion euros, of which 14.3 billion euros will go to Spain, for the 2020-2025 period, with the intention of doubling its renewable capacity and to take advantage of the opportunities presented by the energy revolution facing the world’s main economies. READ MORE
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25/01/2021Iberdrola is the most sustainable Spanish company according to the new edition of the Global 100 Iberdrola has been selected as the most sustainable Spanish company, according to the Global 100 Most Sustainable Corporations in the World index, prepared annually by the publication Corporate Knights. The company, led by Ignacio Galán, also ranks in the top 20 of all the companies in the world. The results of this seventeenth edition were announced at the annual World Economic Forum meeting, which is being held virtually from today. In this new edition, the report highlights in particular how the pandemic has reaffirmed the conviction that the economy and employment reactivation can only come from sustainable investments, as demonstrated by the growing commitment by governments as well as companies. In this regard, Iberdrola is highlighted as one of the so-called 'green energy majors,' leaders in this process of transforming the economic model. More than 8,000 listed companies with revenue of more than 1 billion dollars were analysed to compile the ranking of the 100 most sustainable companies in the world. Companies that generate energy from coal, hinder climate policies and cause extreme deforestation through their activities were excluded. Thus, companies that worsen their benchmark indicators are excluded on an annual basis, although Iberdrola has been continuously selected in recent years. Once this selection has been made, the report analyses 24 indicators including revenue from 'green' areas, investment in sustainable business, carbon levels, tax payments, gender diversity on the board of directors and racial diversity. Iberdrola is a pioneer in all these areas and has defined specific plans and investments to continue advancing in the coming years. In its 2020-2025 plan, the company foresees investments worth 75 billion euros, earmarked for energy transition through more renewable projects, smart grids and large-scale storage systems. In terms of carbon levels, with CO2/kWh two thirds below the European average, an investment strategy focused on clean energy and networks will make Iberdrola a carbon neutral company in Europe in 2030, enabling it to reduce its CO2 emissions globally by 86%, to 50g/kWh, at the end of the decade (70g/kWh by the end of 2025). The company already generates 100% of its energy with no emissions in countries including the United Kingdom, Germany and Portugal. In terms of tax payments, Iberdrola's tax contribution worldwide amounted to 8.156 billion euros in 2019. In its Fiscal Transparency Report 2019: Our Commitment to Society , it states that 43% of its profit before tax was used to pay taxes. In terms of its commitment to diversity and equal opportunities, Iberdrola has also been a pioneer in drawing up its first Diversity and Inclusion Report. It details the initiatives developed by the company in these areas, which are considered a strategic priority for its sustainable growth. READ MORE
