Iberdrola is a global energy leader, one of the largest producers of wind power, and one of the world’s biggest electricity utilities by market capitalisation. The group supplies energy to over 100 million people in dozens of countries, mainly in Spain, the United Kingdom (Scottish Power), USA (AVANGRID), Brazil (Neoenergia), Mexico, Germany, Portugal, Italy and France.

With a workforce of 34,000 and assets in excess of €113bn, the company achieved a turnover of €35bn and a net profit of €3bn in 2018.

Building on a history of more than 150 years, Iberdrola has been at the forefront of the energy transition for two decades. In this time around 100 billion euros has been invested in renewable energy, smart grids and energy storage.

As Iberdrola’s renewable power capacity has expanded, the company has also phased-out the production of energy from all of its oil and coal powered electricity plants.

The long-term commitment to decarbonisation means that Iberdrola’s emissions in Europe are approximately four times lower than competitor companies. In the UK, all electricity generation comes from renewables.

Between 2018 and 2022 Iberdrola is investing €34bn globally, with 86% dedicated to developing clean electricity and smarter, more robust, grid networks.

THOUGHT LEADERSHIP

The coronavirus pandemic has given new force to the call for more responsible business principles. 

At Iberdrola, our long-standing business model and corporate culture is rooted in social responsibility. We believe that serving only our shareholders is not enough. While we have to take note of investors, we must look after our workers, too. Most importantly, we need to consider society and the communities in which we operate. 

Our social responsibility and sustainability policies now incorporate the UN Sustainable Development Goals, and our senior leaders are driving a co-operative culture of integrity and transparency. 

Businesses must gain the trust of consumers

Companies that are viewed as “not playing fair”, perhaps those that put shareholders before other stakeholders, lose public trust. 

Such confidence has to be earned. Ultimately every business builds its reputation with its actions – past, present and future. 

A greater emphasis on stakeholders

Since Covid took hold, the onus has been on businesses and governments to adapt. The way organisations work, with and for their stakeholders, is under the greatest scrutiny. 

When the first signs of the virus emerged, Iberdrola’s worldwide action plan was put in motion. We moved quickly to guarantee the electricity supply for our 100m customers, including payment options and free services for those who are most vulnerable. We also reinforced the protection of the services we provide to hospitals, healthcare centres and other essential infrastructure. 

On top of that, we committed €27m via donations to help the communities we serve. Much of this money was spent on medical supplies and personal protective equipment. 

The post-pandemic corporation

What is clear is that good intentions are not enough. Businesses have to articulate their purpose and the role they play in society and this must be backed up by actions and commitments.

Open global trade is vital in a sector such as renewable energy. The changes that will lead to a more sustainable future will be devised and developed in every corner of the world.

The climate crisis is an immediate threat to mankind. It is vital that barriers to trade do not increase costs or cause delay.

Iberdrola is a leader in the worldwide renewable power industry. Over 20 years the company has seen the sector grow and costs drop sharply. Electricity from renewables is now cheaper than that from most traditional sources with greater emissions.

At such a critical time, international politics must not affect the huge progress made.

Every country wants the best for its people and economy. The good news is that a cleaner planet offers industrial opportunities globally. Transport and heating powered by green electricity increases the potential for prosperity.

Those countries that share their technical knowledge will benefit most. The free flow of ideas is crucial to increasing efficiency and reducing cost.

The EU is a good example of what can be achieved when countries work with a common goal. More than ever, the European model of co-operation shows the right way to address the challenges we face. Let the world work together.

At Iberdrola, our long-standing business model and corporate culture is rooted in social responsibility. We believe that serving only our shareholders is not enough. While we have to take note of investors, we must look after our workers, too. Most importantly, we need to consider society and the communities in which we operate. 

Our social responsibility and sustainability policies now incorporate the UN Sustainable Development Goals, and our senior leaders are driving a co-operative culture of integrity and transparency. 

Businesses must gain the trust of consumers

Companies that are viewed as “not playing fair”, perhaps those that put shareholders before other stakeholders, lose public trust. 

Such confidence has to be earned. Ultimately every business builds its reputation with its actions – past, present and future. 

A greater emphasis on stakeholders

Since Covid took hold, the onus has been on businesses and governments to adapt. The way organisations work, with and for their stakeholders, is under the greatest scrutiny. 

When the first signs of the virus emerged, Iberdrola’s worldwide action plan was put in motion. We moved quickly to guarantee the electricity supply for our 100m customers, including payment options and free services for those who are most vulnerable. We also reinforced the protection of the services we provide to hospitals, healthcare centres and other essential infrastructure. 

On top of that, we committed €27m via donations to help the communities we serve. Much of this money was spent on medical supplies and personal protective equipment. 

The post-pandemic corporation

What is clear is that good intentions are not enough. Businesses have to articulate their purpose and the role they play in society and this must be backed up by actions and commitments.