Iberdrola has submitted a Climate Transition Plan to the United Nations to achieve zero net emissions by 2040.
The Plan targets carbon neutrality of generation plants, electricity distribution activity, and Iberdrola’s own consumption (scope 1 and 2) by 2030. The Plan also aims to achieve net zero emissions in the entire value chain by 2040, using a science-based approach with intermediate milestones, said the press release.
Iberdrola’s investment plan focuses on 100% renewable energy and smart grids, green procurement, and climate solutions for its consumers. In addition, the Plan is grounded in values of a just transition that are “people-positive” and “nature-positive.”
Iberdrola presented its Climate Action Plan at COP 27, setting the goal of the carbon neutrality of generation plants, electricity distribution activity, and its own consumption by 2030 and total decarbonisation of its activities by 2040.
The company also presented its Biodiversity Plan at the World Biodiversity Summit in Canada to achieve a net positive impact on species and ecosystems by 2030. The Plan addresses the impacts of the group’s activities on nature throughout the life cycle of its facilities, considering the supply chain and creating environmental, economic, and social value through ecosystem services.
Besides the Climate Action Plan and Biodiversity Plan, Iberdrola participates in several collaborative initiatives with its business partners, like the Spanish Green Growth Group and the Corporate Leaders Group. Through these initiatives, the company aims to follow the recommendations of the United Nations Group of Experts, which urge the business sector to shift towards an emission-free, more competitive, and stronger economy at an accelerated pace.
“The presentation of this Plan to the UN ratifies the work that Iberdrola has been doing for years, with a clear commitment to accelerating decarbonisation and the implementation of renewable energies that help us to fight global warming in a positive way for people and nature. We are in the best position to work together with the UN and in alliances with third parties and to set an example to the rest of the world”.
Gonzalo Saénz de Miera, Director of Climate Change and Alliances at Iberdrola