NEW YORK--(BUSINESS WIRE)--Today, Iberdrola, one of the world’s largest utilities and the leading renewable energy producer, is pleased to announce that the Company has been recognized as Global Compact LEAD for demonstrating its ongoing commitment to the United Nations Global Compact and its Ten Principles for responsible business.
Announced at UN Headquarters in New York during the UN Global Compact Leaders Summit 2018, Iberdrola was identified as being among the highest-engaged participants of the world’s largest corporate sustainability initiative.
Lise Kingo, CEO and Executive Director of the UN Global Compact, said, “LEAD companies represent the highest level of engagement with the UN Global Compact. Achieving the Sustainable Development Goals and creating the world we want will not happen without bold action from the responsible business community. We need companies of all sizes — like the ones recognized today — to improve their performance, no matter where they are on their sustainability journey.”
“Since the Paris Summit took place in 2015, three out of the five most relevant global risks in terms of likelihood and impact are climate-related, according to a survey by the World Economic Forum. None of these risks were among the top five just 10 years ago. Governments, businesses and civil society, we all have the moral obligation to fight climate change and transform words into deeds,” said Ignacio Galán, Chairman and CEO of Iberdrola, speaking today at the United Nations.
“Climate action has been part of Iberdrola’s strategy and business decisions for the last 20 years,” added Mr. Galán. “Since 2001, we have invested 100 billion dollars in renewable energies, smart grids and efficient pumped hydro storage to bring down our emissions. Our story proves that fighting climate change creates business opportunities while benefiting both our shareholders and society at large.”
Iberdrola is present in numerous countries and supplies energy to over 100 million people. With over $130 billion in assets across the globe, it is one of the companies with the lowest emissions and an international benchmark for its contribution to the sustainability of the planet. The Company has consolidated as one of the top energy companies in the US where it operates as Avangrid, Inc. (NYSE: AGR), a leading, sustainable energy company with $31 billion in assets and operations in 24 U.S. states.
To be eligible for LEAD recognition, companies must:
1. Be a participant in at least two Action Platforms, to demonstrate the company’s engagement with the UN Global Compact and commitment to defining and fostering leadership practices in line with the Ten Principles and Global Goals; and
2. Submit or commit to submitting an Advanced Communication on Progress — an annual sustainability report detailing progress on implementing the Ten Principles — within the same calendar year.
Since joining the UN Global Compact in 2002, Iberdrola has been proud to be part of a global movement of sustainable companies and stakeholders. By integrating a principles-based approach to sustainability, Iberdrola is taking shared responsibility for achieving a better world.
Iberdrola has demonstrated its commitment to the UN Global Compact by participating in Action Platforms on Breakthrough Innovation, Reporting on the SDGs, Financial Innovation for the SDGs, Pathways to Low-Carbon & Resilient Development. You can view Iberdrola’s Communication on Progress (CoP) and other activities and engagements on our Participant profile on the UN Global Compact website here https://www.unglobalcompact.org/what-is-gc/participants/5027-Iberdrola-S-A-.
Iberdrola is present in numerous countries and supplies energy to over 100 million people mainly in Spain, the United Kingdom (Scottish Power), USA (AVANGRID), Brazil (Neoenergia) and Mexico. The group provides direct and indirect jobs to over 400.000 people across the globe and has assets in excess of €110 billion. In 2017, it posted revenues of €31.26 billion and a net profit of €2.8 billion.
Iberdrola leads the energy transition towards a sustainable model through investments in renewable energy, smart grids, efficient energy storage and digital transformation, offering the most advanced products and services to its customers. Thanks to its commitment to clean energy, Iberdrola is one of the companies with the lowest emissions and an international benchmark for its contribution to the fight against climate change and for the sustainability of the planet. Iberdrola is listed on numerous international sustainability indices, among them the Dow Jones Sustainability Index and FTSE4Good, and it is considered one of the most sustainable electricity utilities in the world.
About the United Nations Global Compact
The United Nations Global Compact is a call to companies everywhere to align their operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption, and to take action in support of UN goals and issues embodied in the Sustainable Development Goals. The UN Global Compact is a leadership platform for the development, implementation and disclosure of responsible corporate practices. Launched in 2000, it is the largest corporate sustainability initiative in the world, with more than 9,000 companies and 3,000 non-business signatories based in over 160 countries, and nearly 70 Local Networks.
For more information, follow @globalcompact and visit www.unglobalcompact.org.