The Board of Directors of IBERDROLA, S.A. (the “Company”) has the power to approve the mission, vision and values of the group of companies whose dominant legal entity is the Company (the “Group”). The objective of this provision is to formalize the Group’s mission, vision and values approved by the Board of Directors as an autonomous standard that integrates the Corporate Governance System. The Group’s mission, vision and values constitute its corporative ideology, inspire and become a reality in the Company Articles of Association and in the other provisions of the Corporate Governance System, preside over its daily activities, focus its leadership on all action areas, direct its strategy to maximize company dividends, and guide the ethical behavior of the entire team involved in the daily implementation of the Company’s corporate mission.
Our mission is to create sustainable value in our activities for society, citizens, customers, employees, shareholders, and other stakeholders, as the leading multinational group in the energy sector, to provide quality service through the use of environmentally friendly energy sources by innovating, leading the process of digital transformation in our areas of activity, and being committed to the fight against climate change in all our business ventures, all while increasing company dividends, employment and wealth in our areas of operation as we consider our employees to be a strategic asset. In this sense, we encourage their development, training, and measures of conciliation, favoring a positive work environment and equal opportunities. All the foregoing is within the framework of our strategy of social responsibility and compliance with tax regulations.
We want to be the multinational leader in the energy sector that charts a brighter future, creates value sustainably, and offers quality services for citizens, clients and shareholders—all of whom we care deeply about and engage with—and for the communities in which we carry out our activities and with whom we engage in constructive dialogue, generating employment and wealth. We wish to be known for our firm commitment to ethical principles, good corporate governance, transparency, the safety of people and supplies, operational quality and excellence, innovation, protection of the environment, customer focus, and the Sustainable Development Goals approved by the United Nations. All these commitments are possible thanks to the work of our employees and those working with our suppliers and partners, who we care for by offering our training resources and conciliation measures for their development and to strengthen equality of opportunities.
The Group’s mission and vision begin with a strong commitment to twelve values that all corporate provisions, internal rules and other internal codes and procedures should respect:
Creation of Sustainable Value
“We want to lead in the creation of sustainable value for society, citizens, clients, shareholders and for the communities where our activities are carried out, to redistribute equally to all collectives that contribute to our company’s success and undertake new investments to maximize our company dividends as well as generate jobs and wealth for society with a long-term vision that charts a brighter future without compromising current results.”
“We desire that our behavior and that of the persons involved with us, including all participants in the value chain, be held accountable to and embrace, in accordance with the current legislation and Corporate Governance System, generally accepted ethical and social responsibility principles.”
Good Corporate Governance and Transparency
“We care about and involve ourselves in the social lives of citizens, clients, suppliers, employees and shareholders, and we constantly make an effort to maintain the leadership of our corporative governance and transparency, adopting in each moment the best practices generally recognized in the international markets, all within the framework of a diverse community organized efficiently and coordinated around Iberdrola, S.A. and the various subholding companies and leading commercial companies, bound to common guidelines and to the subsidiarity principle.”
Development of Our Workforce
“We consider our employees a strategic asset, whom we take care of and offer a good work environment, fostering their development, training, and measures of conciliation and favoring the equality of opportunities. We work to recruit, promote and retain the talent and encourage the personal and professional growth of all the people on our team, making them part of our quest to succeed in our corporate project and guaranteeing each a safe and respectable job.”
“We pursue the sustainable development of the communities where we carry out our activities and the wellbeing of citizens, clients, suppliers, employees and shareholders who contribute to achieving the corporate interests of Iberdrola S.A., which is the basic assumption for the success of our business enterprise. We have an impact on local economic development by generating employment and wealth, and we redistribute our company dividends to the communities where we develop our activities.”
“Being conscious of this reality, we contribute to the development of these communities by making them part of our corporate project and of our social responsibility strategy, with measures directed to encourage education, research, culture and art, and to protect vulnerable groups.”
Sense of Belonging
“We care for and involve ourselves in all stakeholders in our enterprise, engaging in continuous and constructive dialogue with them in order to know their expectations and to build strong bonds, thus generating trust and forging a sense of belonging to an excellent company in which they feel they are an integral part.”
Safety and Reliability
“We work to offer a high-quality service that supplies energy to society, citizens and clients and to develop all our activities in a safe and reliable environment. An essential aspect of our processes is the security of our employees and people in the facilities of Iberdrola Group or in the surrounding areas and clients’ areas, as well as the adoption of the best practices in security matters and labor health.”
“We believe that the outstanding management of all of our processes and resources is an essential tool in creating value for citizens, customers, shareholders, employees, and other stakeholders.”
“We believe that innovation is a strategic variable that affects all types of businesses and all the activities we carry out. We want to be leaders in the energy sector, with our central tenets being our activities in this sustainable development area, encouraging renewable energies, exploiting the opportunities that digitalization offers in all its spheres, automation and betting on technologies and new business models.”
Respect for the Environment
“Our leadership in the struggle against climate change, the development of clean energies and respect for the environment are the pillars of our energy production model and the factor that distinguishes us in the energy sector as one of the leading companies worldwide.”
“We work to know our clients’ needs and expectations to offer them the best solutions, relying on the proper function of the free market, continuously working to maintain and increase level of satisfaction, reinforce the link with Iberdrola Group and promote responsible consumption.”
“We base our relations with the public authorities on a respect for the law, loyalty, trust, professionalism, collaboration, reciprocity and goodwill. We consider the taxes we pay in the countries and territories where we operate as a major contribution to the maintenance of public expenditures and, therefore, as one more of our contributions to society.”
The professionals at the Group expressly accept the content of the Mission, Vision, and Values of Iberdrola Group. Professionals who join or become part of the Group in the future must also expressly accept the content hereof. The Mission, Vision, and Values of the Iberdrola group shall be attached to the employment agreements of all Group professionals.
This Mission, Vision, and Values of the Iberdrola Group, which contains the corporate philosophy of the Company initially formalized as such in 2002, was approved by the Board of Directors as a standard of the Corporate Governance System on February 23, 2016 and was last amended on July 19, 2016.