Iberdrola: Innovating for a Clean Energy Future

Iberdrola has set ambitious decarbonization goals, including achieving net-zero emissions for all scopes before 2040. It aims to reduce absolute GHG emissions by 65% by 2030 (from 2020 levels) and reach neutrality in direct and indirect emissions (Scopes 1 and 2) by 2030. These commitments align with SBTi’s Net-Zero Standard.

The company has outlined a €41 billion investment plan for 2024–2026. This includes €21.5 billion for grid enhancements in stable markets, €15.5 billion for renewable energy-focused heavily on offshore wind projects—and €1.5 billion for energy storage to reach 120 million kWh of capacity.

Iberdrola is deploying significant renewable energy infrastructure, such as the Tâmega Giga-Battery in Portugal, East Anglia ONE offshore wind farm in the UK, and the Núñez de Balboa photovoltaic plant in Spain. These projects contribute to reducing CO2 emissions and supplying clean energy to millions of households.

To align its supply chain with its net-zero goals, Iberdrola has introduced ESG criteria for suppliers and has the objective of ensuring that at least 85% of the group’s main suppliers are subject to sustainable policies and standards for the 2023–2025 period. It provides tailored improvement plans, free carbon footprint tools, and training hubs to support suppliers, with a focus on small and medium enterprises.

Iberdrola ensures a fair and inclusive energy transition by creating green jobs, providing training programs, and fostering industrial activity in affected regions. This includes initiatives like the Citizens’ Innovation Platform, renewable projects in former coal areas in Spain, and skill-building programs for vulnerable groups, with a special focus on youth. 

Since 2021, the Company has been co-leading the Reskilling for Employment (R4E) project, a joint initiative with major European companies to reduce skills mismatches and increase employment opportunities in sectors related to the energy transition. To date, more than 1,000 people have been retrained to adapt their careers to sustainable jobs.

Iberdrola actively participates in global climate initiatives, advocating for ambitious policies to accelerate the energy transition and the achievement of the climate goals. It collaborates with organizations like the United Nations Framework Convention on Climate Change (UNFCCC) (with an active involvement at COPs), UN Global Compact, We Mean Business (WMB), the Corporate Leaders Group (CLG) or the Global Renewables Alliance (GRA), and leading campaigns such as “Forward Faster” (UN Global Compact) and “Fossil to Clean” (WMB)

The company has adopted robust frameworks like TCFD and SBTi to ensure accountability and transparency in its climate actions. Iberdrola regularly assesses the alignment of its activities and partnerships with the Paris Agreement.

Invest in transformative projects to develop innovative solutions and ensure competitiveness and value creation.
 

To achieve a successful energy transition to a net-zero economy, it is essential to collaborate with the different stakeholders to ensure the climate goals are met.

Understand the just transition in all its dimensions and take into account all actors (from workers and local stakeholders to youth, suppliers, nature...).

The deployment of renewables and networks has to be done in harmony with nature and ensuring the protection of biodiversity.

The plan must aim at achieving net-zero emissions, in line with the global goals, science-based and backed by a robust strategic investment plan.

The development of clean energies combats climate change and offers a sustainable, competitive and secure business model that creates value for society and nature.

Begin the transition early and align with science-based frameworks like SBTi to set measurable, credible, and time-bound sustainability targets.