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2021-07-08 00:00:00.0

“Our alliance is showing that companies from all over Europe are taking rapid climate-related measures”

Ignacio Galán, chairman of Iberdrola.

Ignacio Galán, the chairman of Iberdrola group, and the CEOs of a further 11 European companies are continuing to join forces to work towards an emissions-free future and to make Europe more resilient. They are doing so via the European CEO Alliance, an initiative that supports the goals of the Paris Agreement for 2050, the EU Green Deal and greater ambition with respect to achieving the Union's climate targets.

The alliance has transferred a series of recommendations regarding the Fit for 55 legislative package being prepared by the European Commission:

Addressing climate change requires a close collaboration between the public sector and industry.
Reviewing the EU's principal regulatory instruments, especially the subsidies for technologies with high CO₂ emissions.
Strong signal of the price of carbon as a central tool of the decarbonisation strategy — they propose a European carbon price fixing system —, as well as the continuous improvement of the EU's Emissions Trading System —for the energy and heavy industry sectors— and the implementation of additional specific limit and trade systems within the sector which would be applied to mobility, transportation and construction.
Decarbonisation of mobility, transportation and buildings are the main challenges:
- Electrical mobility has shown itself to be the most efficient technology in terms of energy consumption and emission reduction. The members of the CEO Alliance have embarked upon a series of intersectoral projects designed to increase the production of batteries and create a charging point infrastructure across Europe.
- European Commission Building Renovation Wave: they are asking for fossil fuel heating systems to be rapidly replaced with electrical heat pumps, urban heating and digital solutions and committed to applying this recommendation to the buildings owned by their companies.
The CEO Alliance is working on a project for integrating electrical systems, in particular grids, with the aim being to create a system based mainly on renewable energies and flexible solutions.

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About Iberdrola

Iberdrola is a leading global energy supplier -the third-largest by market capitalisation in the world and the leader in renewables- championing the energy transition towards a low-emissions economy. The group supplies energy to around 100 million people in dozens of countries and has renewable, grid and retail activities in Europe (Spain, the UK, Portugal, France, Germany, Italy and Greece), the US, Brazil, Mexico and Australia, while counting markets including Japan, Ireland, Sweden and Poland among its growth platforms.

With a workforce of more than 37,000 and assets of over €122.5 billion, it recorded turnover in excess of €33 billion and net profit slightly exceeding €3.6 billion in 2020. The company contributes to the maintenance of 400,000 jobs in its supply chain, with an annual procurement budget of €14 billion. A leader in the fight against climate change, Iberdrola has committed more than €120bn over the last two decades to building a sustainable energy model based on sound environmental, social and governance (ESG) principles.