Iberdrola

Iberdrola, headquartered in Spain and operating in the distribution and trade services of electricity industry, reported total carbon emissions of approximately 42.8 billion kg CO2e in 2024. This included Scope 1 emissions of about 8.91 billion kg CO2e, Scope 2 market-based emissions of roughly 2.44 billion kg CO2e, and Scope 3 emissions of approximately 25.07 billion kg CO2e. In 2023, their total emissions were about 52.49 billion kg CO2e, with Scope 1 at around 10.59 billion kg CO2e, Scope 2 at approximately 2.59 billion kg CO2e, and Scope 3 at about 39.3 billion kg CO2e. Looking ahead to 2025, Iberdrola projects total emissions of roughly 41.28 billion kg CO2e.

Iberdrola has set ambitious climate commitments. The company is committed to achieving net-zero greenhouse gas emissions across its value chain by 2039 from a 2020 base year, a target validated by the Science Based Targets initiative (SBTi). This includes near-term targets to reduce absolute Scope 1, 2, and 3 GHG emissions by 65% by 2030 from a 2020 base year. Specifically for power generation, Iberdrola aims to reduce Scope 1 and 2 GHG emissions by 83% per kWh by 2030. Furthermore, they plan to reduce Scope 1 and 3 GHG emissions from fuel and energy-related activities covering all sold electricity by 85% per kWh within the same timeframe, and absolute Scope 3 emissions from the use of sold products by 42%. All remaining absolute Scope 3 GHG emissions are targeted for a 46% reduction.

For the long term, Iberdrola commits to reducing Scope 1, 2, and 3 emissions by 90% by 2039 from a 2020 base year. This includes reducing Scope 1 and 2 GHG emissions from power generation by 84% per kWh by 2039 and Scope 1 and 3 GHG emissions from fuel and energy-related activities covering all sold electricity by 95% per kWh. Absolute Scope 3 GHG emissions from the use of sold products are targeted for a 90% reduction, with all other remaining absolute Scope 3 GHG emissions also to be reduced by 90%.

Iberdrola has also committed to CO2e neutrality for Scope 1 and 2 emissions by 2030, with a target intensity of less than 10 g CO2/kWh from electricity generation emissions by that year. Additionally, they aim to reduce Scope 1 and 2 emissions to near zero by the middle of this decade. The company also signed The Climate Pledge, committing to reach net-zero carbon emissions by 2040.