Iberdrola has presented its Climate Action Plan, aiming to reach net-zero emissions in all its activities by 2040.
In addition, by 2030 the company wants to become emissions neutral for its generation plants and own consumption.
Iberdrola has also presented its Biodiversity Plan, which aims 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.
Addressing COP27, executive chairman of Iberdrola Ignacio Galan said: “The current crisis has reaffirmed the need to accelerate electrification with renewables and grids in order to achieve full decarbonisation and energy self-sufficiency.
“After 20 years of experience, this Climate Action Plan gives new impetus to Iberdrola’s commitment to zero net emissions as a means of preserving the environment and generating employment and industrial development. The next decade will be crucial if we are to meet climate targets and protect biodiversity, and we must all work together today to achieve them.”