Iberdrola

BME: IBE77Credible Contributor· Provisional

0 followersIntegrated utility·Bilbao, Spain

www.iberdrola.com

Spain's largest utility and a global renewables leader, with 23,047 MW of renewable capacity in Spain and a €58bn 2025–2028 investment plan overwhelmingly directed at wind, solar and grid infrastructure.

77/100

Credible Contributor· Provisional

ClimateTicker Green Score · how it's calculated

Greenwashing risk: lowData confidence: high

Why it's on ClimateTicker

Iberdrola is a genuinely structurally green utility — one of the world's largest renewable energy operators with 46,741 MW of operational renewable capacity and an SBTi-validated net-zero target by 2039, backed by a €58bn 2025–2028 investment plan overwhelmingly directed at wind, solar, and grid infrastructure. The core business model is authentically aligned with mitigation, not merely repositioned fossil assets. However, a serious and unresolved corporate-espionage governance scandal (Caso Villarejo), active litigation over electricity price manipulation, and a protracted labour dispute at record profit margins meaningfully undercut the 'S' and 'G' dimensions of the ESG story.

mitigationIberdrola earns revenues through electricity generation (predominantly renewables and hydro), regulated electricity transmission and distribution networks (the fastest-growing profit centre, targeted at 55% of 2028 EBITDA), and retail supply to ~100 million customers across Spain, UK, US, and Brazil.

Commitments & Certifications

CDP: Participant — exact score not publicly confirmed in search results ↗other: TCFD Aligned ↗other: ISO 37001 / UNE 19601 (AENOR) ↗SBTi: Net-Zero Target Validated ↗

Controversy & Greenwashing Watch

mediumLabour Dispute & Repeated Strike Action (Spain 2025–2026)

Major unions UGT and CCOO called two general strikes in 2025–2026 (9,000+ workers) after 16 months of failed collective bargaining; unions allege staff purchasing power fell 19% since 2021 while the company posted record profits and the chairman's pay rose 6.45%, and Spain's National High Court issued multiple rulings against Iberdrola for illegal pay practices.source ↗

mediumAvangrid Fossil Gas Lobbying Contradiction

Iberdrola's US subsidiary Avangrid's CEO advocated for fossil gas infrastructure expansion in Massachusetts in June 2025 and previously supported a flexible Clean Heat Standard with a long-term role for gas, contradicting Iberdrola's stated pro-electrification positioning; the company also disclosed only a partial list of its industry association memberships in 2024.source ↗

highElectricity Price Manipulation Trial

Iberdrola and four executives faced trial in Spain on allegations of manipulating electricity prices, a matter that also surfaced in US regulatory proceedings involving subsidiary Avangrid.source ↗

lowAvangrid Customer Service & Rate Controversies (US)

A 2023 report alleged Avangrid has a history of poor customer service, billing errors, and high rates; subsidiary United Illuminating was accused of mobilising employees to oppose a state regulator's rejection of a rate-hike request.source ↗

lowGriffon Vulture Electrocution Fine (Wildlife Harm)

Iberdrola's power distribution division was fined €68,667 after a griffon vulture was electrocuted on a Valencia Province power line in 2023, flagging ongoing wildlife harm from grid infrastructure.source ↗

highCaso Villarejo — Corporate Espionage Criminal Investigation

Iberdrola was formally charged in July 2022 by Spain's High Court for allegedly contracting convicted former police commissioner José Manuel Villarejo to spy on business rivals, executives, and opponents of gas projects; Chairman Ignacio Sánchez Galán has been under investigation since 2019.source ↗

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