Spanish multinational electric utility company Iberdrola released its new Biodiversity Plan 2030, in which it pledged to achieve a net positive impact on biodiversity by 2030, as reported by ESG Today on December 12. Under the plan, the company will set up an accounting framework to quantify positive and negative impacts on ecosystems and species arising from the construction, operation, and decommissioning of its facilities. It will also reinforce biodiversity conservation and regeneration actions and integrate biodiversity into all of the company’s internal strategic planning and decision-making processes. Moreover, the company will evaluate and revise the action plans of all its facilities by 2030 to achieve the goals in its biodiversity plan. For priority facilities, the targets will be covered by 2025. 

The issuance of this biodiversity plan came one month after the COP27 summit, where Iberdrola presented its climate action plan. Aside from the commitment to securing biodiversity, the company pledged at the COP27 to achieve emissions neutrality in its power plants and own consumption by 2030 and reach net-zero emissions in all its activities by 2040. In November, Iberdrola announced a EUR47bn (USD50.08bn) investment plan to facilitate the energy transition. It will allocate EUR27bn (USD28.77bn) for electricity networks and EUR17bn (USD18.11bn) for renewable energy production from 2023 to 2025, with a further EUR65bn (USD69.25bn) to EUR75bn (USD79.92bn) investment planned from 2026 to 2030. Citing Iberdrola executive chairman Ignacio Galan, the investment will build self-sufficiency and resilience against the potential energy crisis in the countries where the firm operates.

Sources:

https://www.esgtoday.com/iberdrola-launches-biodiversity-plan-pledges-net-positive-impact-by-2030/

https://www.iberdrola.com/sustainability/environment/iberdrola-biodiversity

https://www.evwind.es/2022/11/14/iberdrola-presents-its-climate-action-plan-at-cop27/88785

https://www.reuters.com/business/energy/iberdrola-sees-higher-profits-by-2025-investment-47-bln-euros-2022-11-09/