Working Towards Global Net Zero

We have a key role in the fight against climate change. Our activities enable the energy transition to an emission-free model through the electrification of the economy and the integration of renewable energies. Additionally, our telecommunications activities contribute significantly to decarbonisation by promoting digitalization and connectivity.

Beyond that, we actively reduce and offset our carbon footprint, extending our climate ambition to the supply chain in order to reduce its emissions.

sky
Aligned with the Paris Agreement

Addressing climate change is the most urgent global challenge.

Halting temperature rises requires immediate action to balance economic growth and well-being with greenhouse gas emission reduction.

The climate crisis calls for actively committed companies. In Redeia, we understand our role as a key player in the energy transition towards a more sustainable model, emphasising the electrification of the economy, maximum integration of renewable energies, and energy efficiency while ensuring supply security.

iceberg

Our objective is to achieve net-zero emissions by 2050

Our emission reduction targets for 2030 and 2050 have been validated by the Science-Based Target initiative (SBTi).

2025

  • 30% reduction in scope 1 + 2 emissions compared to 2019.
  • 100% reduction in scope 1 emissions from 2024.
  • Suppliers representing 2/3 of supply chain emissions must have science-based targets (approved by SBTi).

2030

  • 55% reduction in scope 1 + 2 emissions compared to 2019.
  • 28% reduction in scope 3 emissions compared to 2019.

2050

  • 90% reduction in scope 1 + 2 emissions compared to 2019.
  • 90% reduction in scope 3 emissions compared to 2019.
  • Offsetting emissions that cannot be reduced.
Our Roadmap

To achieve these goals, we implement internal and third-party actions to reduce and offset our greenhouse gas emissions. We will do so by implementing energy efficiency measures, improving our processes, and developing solutions that reduce our impact.

Combating global warming based on six principles
blank

Working towards the integration of renewable energies.

blank

Driving energy efficiency.

blank

Reducing our greenhouse gas emissions.

blank

Protecting wooded areas.

blank

Implementing measures to adapt to climate change.

blank

Spread our commitment among stakeholders.

Our Action Plan

Our main contribution to the fight against global warming involves materialising the energy transition. Our subsidiary, Red Eléctrica, drives the electrification of the economy and the efficient integration of renewable energies through a strong and well-connected transmission grid, as well as the development and operation of energy storage systems primarily.

Therefore, our Climate Change Action Plan contains both these and three other lines of action.

  • We develop infrastructures that facilitate the electrification of the economy, connect new renewable power, reduce technical constraints, and supply the rail transport network.
  • We achieve the highest integration of renewables in the electrical system by optimising system operations and the functioning of our Control Centre of Renewable Energy (CECRE), improving prediction tools, incorporating more distributed generation, and developing energy storage systems.
  • We progress in efficiently managing the grid, driving technological innovation (smart grids and digitalisation), introducing new features and services, and implementing flexibility measures.
  • Lowering SF6 emissions from the transmission grid.
  • Reducing energy consumption and associated emissions in the transmission grid.
  • Decreasing emissions linked to our supply chain.
  • Offsetting our emissions, mainly through the Redeia Forest project.
  • Risks
    We have identified, evaluated, and classified 114 potential risks, considering exposure, sensitivity, and adaptability criteria. This assessment includes economic variables and business indicators, such as the impact on electrical supply, telecommunications services, and reputation.

 

  • Opportunities
    The transition to a carbon-neutral economy brings with it opportunities related to energy transition and digitalisation, areas where Redeia can reinforce its role as a key player.
    We annually identify, prioritise, and economically quantify these opportunities using a methodology aligned with Task Force on Climate-Related Financial Disclosures (TCFD) recommendations. Each year, our Board of Directors oversees this analysis to encourage taking these opportunities into consideration in the group's decision-making processes and strategic and operational plans.

Highlights include the release in 2021, together with seven other European companies, of an informative document on the role of Transmission System Operators (TSOs) in the decarbonisation of the energy system. Furthermore, we collaborated with the Spanish Federation of Popular Universities (FEUP) in 2022 to create Hémera, a digital school for energy transition where we offer free training to empower citizens as protagonists of the new energy model.

We also sponsor the exhibition ‘Connected to the Future’, which is touring multiple science museums in Spain to promote a wider understanding of the energy transition and the active role consumers will play in the future electrical system.

Fighting Global Warming and Its Effects, according to the Taxonomy

79.2% of Redeia's net revenue is eligible and aligned with the EU Taxonomy Regulation.

This means that we substantially contribute to both mitigating and adapting to climate change. Besides combating global warming, our activities do not significantly harm other environmental objectives defined in the regulation and are carried out with social guarantees, paying special attention to vulnerable groups, and respecting human rights.

An analysis of our subsidiaries has shown that:

  • The activity of our main company, Red Eléctrica, is entirely environmentally sustainable in energy transmission, electrical system operation, and national infrastructure management.
  • The activities of Hispasat, Reintel, Elewit, and Redinter are not covered by the regulation and are, therefore, not measurable.
forest
Endorsements from the Dow Jones Sustainability Index and CDP

For years, we have been reducing our carbon footprint, achieving the highest international sustainability standards in this area.

logo Dow Jones Sustainability Indices

Each year, we rank in the prestigious Dow Jones Sustainability World Index as one of the world’s most sustainable companies. In the latest 2023 publication, we scored 83 out of 100.

logo CDP

CDP has awarded us the highest A-List ranking in 2023 for our leadership and transparency in climate action and has recognised our responsible value chain management in this area.

forest