By the numbers: 

- €41 billion: the amount of money committed between 2024 and 2026 to drive the clean energy transition, employment, and net-zero emissions

Ambitiousness and climate action have always gone hand in hand for Iberdrola, Europe’s largest utility. More than 20 years ago, the company started acquiring and building wind, solar, hydroelectric, and hydrogen power sources. Now, approximately 80% of its energy comes from emission-free technologies. Iberdrola has reached a 29% reduction in Scope 1, 2, and 3 emissions compared to 2020, achieving levels of 49 gCO2/kWh in Europe and 77gCO2/kWh globally in 2023.

The utility ultimately aims to decarbonize the economy through electrification. How? By investing in an electric grid capable of deploying vast amounts of renewable energy to large swaths of the population as efficiently as possible. 

Iberdrola invested €384 million for research and development in 2023 and is leading two industrial research projects to develop new energy storage technologies and improve the efficiency of green hydrogen plants. The work builds on the company’s  recent achievements: It owns the largest green hydrogen production plant in Europe, producing up to 3,000 tonnes of green hydrogen that helps make more sustainable fertilizers and  is expected to reduce nearly 3 million tonnes of CO2 emissions over the next decade.  

To reach its goal of building an entirely renewable grid, Iberdrola is backing an economy of smaller startups. To date, the company’s innovation program has invested more than €200 million to companies with the potential to change the way the world produces, transports, and consumes energy, demonstrating how innovation and collaboration drive progress toward meeting the most ambitious climate goals.