The Spanish electric utility company Iberdrola has aimed to achieve net zero emissions by 2040.
The company also plans to become emissions neutral for its generation plants and own consumption by 2030. It made such commitments as per its Climate Action Plan.
Besides, Iberdrola also presented its Biodiversity Plan, according to which it plans to achieve a net positive impact on species and ecosystems by 2030.
According to Iberdola, the Climate Action 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.”
Executive chairman of Iberdrola Ignacio Galan addressed COP27 and stated, "The current crisis has reaffirmed the need to accelerate electrification with renewables and grids in order to achieve full decarbonisation and energy self-sufficiency.”
He further stated, “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.”
Galan is of view that the next decade is very important to achieve climate targets and protect biodiversity, and stressed for unity and collaboration.