Influence Map Places Iberdrola as the Company with the Greatest Leadership at COP28

Source: www.gulfoilandgas.com 12/14/2023, Location: Europe

- The company has been recognised at the Dubai climate summit for its intense agenda and positioning aligned with the Paris Agreement.
- Iberdrola, together with Masdar, was one of the main business agreements of the convention with a co-investment of 15,000 million euros.
- The leading renewable energy company has organised impact events with international players, and has participated in more than 50 events and meetings.

Iberdrola has been recognised as the company with the greatest leadership at the Dubai climate summit (COP28) by Influence Map, the most relevant independent global think tank in the field of analysing the influence of organisations on climate policies and their alignment with the Paris Agreement. The combination of an intense agenda and ambitious positioning have been crucial for the company, a leader in renewables, to achieve this position.

It is worth noting that, during the annual climate summit, Iberdrola, together with Masdar, was one of the most important milestones of the global meeting. A strategic agreement to jointly invest up to 15 billion euros to be used in the development of new offshore wind and green hydrogen projects in Germany, the United Kingdom and the United States. The first step of this new alliance will be the UK's 1,400 megawatt (MW) East Anglia 3 offshore wind project, which is in the final stages of negotiation and could be signed by the end of the first quarter of 2024.

In addition to signing this important agreement, Ignacio Galán, Iberdrola's chairman, has had an intense agenda marked by his participation in forums and bilateral meetings in which he has assured that the goal of tripling the installed renewable capacity between now and 2030 is feasible. This will require investments of 2.2 billion euros per year and regulatory stability, adequate financing and institutional commitment.

Fatih Birol, Executive Director of the International Energy Agency, Kadri Simson, European Commissioner for Energy, Maroš Šefcovic, Vice-President of the European Commission, Ajay Banga, President of the World Bank and Alexandre Silveira, Minister of Mines and Energy of Brazil, are some of the world leaders with whom Galán discussed the need to accelerate the expansion of electrification through renewable energies in order to reduce dependence on fossil fuels. He also discussed with them the need to invest in grids, as nearly 80 million kilometres will need to be added or replaced over the next 20 years.

The renewable energy company also organised five events with strategic allies. Particularly relevant was the event held with UNICEF, which focused on the role of young people in accelerating the energy transition, and the forum held with BirdLife, which showcased successful experiences on the positive impacts of an accelerated renewable transition on biodiversity.

In addition to these meetings, Iberdrola also participated in 50 other events with key players in the energy transition and the climate agenda, such as the International Energy Agency, the Global Renewable Alliance, the World Economic Forum, the European Commission, the United Nations, and the Corporate Leaders Group.

Iberdrola has also supported the goal of tripling renewable energy capacity by 2030, adhering to the #3xRenewables campaign and supporting the Open Letter for world leaders at COP28, as well as the progressive elimination of fossil fuels by supporting various campaigns such as #FossiltoClean or the Utilities for Net Zero alliance.

The company's presence at the main milestones of the summit is aligned with Iberdrola's goal of accelerating the energy transition and climate action to ensure compliance with the Paris Agreement and truly sustainable economic and social development with a positive impact on nature. For all these reasons, Influence Map has highlighted the electricity company as the company with the greatest leadership, as a reflection of its hard work to build a business model based on renewable energies and green solutions.

Iberdrola is the largest electricity company in Europe and one of the two largest in the world, serving a population of more than 100 million people worldwide. The company has 150 billion euros in total assets, 41,000 MW of renewable energies in operation and 1.2 million kilometres of networks around the world.


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