In order to achieve this objective, Iberdrola will focus future investments on energy projects with zero emissions and on developing carbon capture technology.
Iberdrola has already laid the foundations for meeting this challenge, with a project pipeline for wind power totalling 57,400 MW, hydroelectricity projects totalling 3,000 MW in Spain, Portugal and Brazil. It is also is in the vanguard of new technology to capture and store CO2 at coal-fired generation plants.
Chairman Ignacio Galán said “Iberdrola is fully aligned with the clear move towards a new global energy system, founded on low carbon emissions and on clean and efficient energy sources.” He said a new energy model, based on sustainable, competitive and secure supplies to replace dependence on fossil fuels with clean sources, like wind power, is the way forwards towards drastically reducing greenhouse gas emissions.
He said the Company has consistently been a pioneer among electricity companies in combating global warming with one of the lowest emissions levels in the sector, and intends to continue with its sustainable energy programmes in all its markets.
Galán said Copenhagen is an ideal opportunity for governments to lay the foundations for a new green economy, providing incentives for environmentally responsible investment and designing a global energy model that can be a powerful engine for economic recovery and job creation. Despite the difficulties in achieving this agreement, the move towards a far-reaching energy sector transformation is irreversible, he said.
Iberdrola had 43,311 MW of installed capacity worldwide at the end of 2008, of which 22,367 MW (52%) were emission free compared with 20,163 MW the year before, an improvement of 11%. In Spain clean energy capacity came to 17,060 MW, 64.7% of total capacity in the country.
New section in corporate website on climate change
In the context of its commitment on combating climate change, IBERDROLA today launched a special section (www.togetheragainstclimatechange.com Open in new window.) within its corporate website, offering visitors information on the Group’s main initiatives in combating climate change. The new microsite includes sections devoted not only to the role played by the Company but also to information related to the upcoming Summit.
The microsite includes a video and letter from the Chairman, Ignacio Galán, explaining Iberdrola’s objectives in reducing emissions, as well as environmental tips, frequently asked questions on climate change and information on clean energy.