We are focused on improving our customers’ quality of life by enabling emissions reduction technologies across every aspect of the economy that we touch. From reducing our own carbon footprint, to working with our partners and suppliers to further develop the market and workforce, to enabling our customers to adopt more efficient, renewable and lower-emitting technologies, we are committed to helping our communities transition to a clean energy economy.
This strategy starts with replacing the use of fossil fuel generation with wind, solar and other renewables until we reach an electric distribution grid that is powered by 100% emissions-free resources. It continues by enabling our customers to transition away from fossil fuels and toward increased zero-emission technologies at their businesses and homes with beneficial electrification solutions (like electric heat pumps and EVs).
A key component of our economy-wide emissions reduction strategy includes increasing the amount of energy we produce and provide to our customers from renewable sources like wind, solar, geothermal and green hydrogen. Near-term, our goal is to generate 10 GW of emissions-free energy capacity by 2025 with a 70% reduction in our emissions intensity by 2030 compared to 2015.
In addition to expanding renewable energy from solar and wind, we are exploring new ways to tap into existing renewable energy sources to replace more carbon-intensive energy in our communities. For example, we are studying ways to harness geothermal energy while also helping our customers adopt more efficient, less carbon-intensive technologies.
Commitment to Carbon Neutrality
We’ve also committed to a target of achieving carbon neutrality for our Scopes 1 and 2 emissions by 2030—five years faster than our prior commitment, which focused solely on our Scope 1 emissions. This new commitment is aligned with Iberdrola’s emissions goals, which have been certified by the Science-Based Targets Initiative (SBTi).
What do the various Scopes mean? Here’s the breakdown: