Iberdrola Takes Global Leadership in Energy Transition at Climate Ambition Summit
Iberdrola, a leading global energy company, has showcased its global leadership in the energy transition at the Climate Ambition Summit. The company’s Chairman, Ignacio Galán, attended the summit as a prominent figure in the field. Iberdrola’s presence at the event aligns with its commitment to the United Nations and its efforts to combat climate change.
For the past 20 years, Iberdrola has been at the forefront of the energy transition, making it one of the first companies to present a comprehensive plan following last year’s call by UN Secretary-General António Guterres for business leaders to take action. Iberdrola’s plan meets the criteria set by the UN High-Level Panel of Experts on Net Zero Emissions Commitments.
Galán emphasized the need for ambitious and committed actions from companies worldwide to achieve a successful transition to a cleaner energy model. While progress has been made, there is still a significant gap between words and actions. Galán urged more companies to create and present robust transition plans as the fight against the climate crisis is time-sensitive.
The Climate Transition Plan outlined by Iberdrola details the actions and mechanisms the company will implement to achieve its environmental goals and contribute to the overall decarbonization of the economy. The plan includes key actions such as:
– Investing €47 billion by 2025 to promote the energy transition, with a focus on grid and renewable energy investments.
– Expanding renewable installed capacity to 52,000 MW by the end of the investment period.
– Increasing storage capacity to over 100 GWh.
– Implementing measures to reduce emissions and ensure a sustainable business model.
Iberdrola’s dedication to the fight against climate change has resulted in significant growth, with the company’s assets increasing sevenfold to €160 billion. It has become the largest European electricity company and one of the top three globally in terms of market capitalization.
Additionally, Ignacio Galán has joined the Global Leaders Council of UNICEF’s Generation Unlimited organization, which aims to connect millions of young people worldwide to training, empowerment, employment, and social entrepreneurship opportunities. The council, co-chaired by Catherine M. Russell of UNICEF and Bob Moritz of PwC, consists of business leaders, NGO representatives, charity representatives, and government officials.
As part of Generation Unlimited, Iberdrola supports programs such as 1 Million Opportunities in Brazil, which improves skills, job opportunities, and green employment for vulnerable youth. The company also backs the UPSHIFT innovation program in Somalia, training young victims of violence and exclusion in innovation and social entrepreneurship.
Iberdrola’s partnership with UNICEF extends further, providing digital content and learning materials on climate change and sustainability through UNICEF’s global learning platform called ‘Learning Passport.’ This platform ensures continuous access to quality education for children and young people worldwide.
In Spain, Iberdrola contributes to ‘Generation Unlimited Spain,’ a multi-stakeholder partnership that supports vulnerable youth by designing training courses to equip them with skills necessary for participation in the energy transition.
Iberdrola’s commitment to both the energy transition and supporting vulnerable youth demonstrates its proactive approach and global leadership. The company’s efforts in driving sustainability and social development emphasize the importance of collaborative action for a greener and more inclusive future.
