In Conversation with Iberdrola: Navigating Megatrends

In Conversation with Iberdrola: Navigating Megatrends
September 23, 2025 11 mins

In Conversation with Iberdrola: Navigating Megatrends

Spanish energy multinational, Iberdrola – a leader in grids, storage and clean energy – talks with Aon about its efforts to adapt and respond to climate impacts through its shift towards renewables and building a workforce for the future.

In Conversation with Iberdrola: Navigating the Intersection of Weather and Workforce

Julie Page, CEO for EMEA at Aon spoke with Gonzalo Sáenz de Miera, Director of Climate Change and Alliances (Chairman’s Office) and Marta Martínez Sánchez, Head of Analysis and Special Projects, Climate Change and Alliances at Iberdrola about the implications of weather and climate on their operations and workforce at Aon’s Madrid offices.

  • Show Transcript

    Julie Page, Aon
    Welcome to Aon. I very much appreciate you being here and spending some time with us. I don't know whether you know it, but we've enjoyed a 30-year partnership, as you've developed your strategy over those years. Your electrification strategy, your development towards green energy, your focus on being a force for change and a force for good is something that we have supported. We're proud to be acting as your advisor on your property, your terrorism, your cyber, and also your construction projects, which is right at the front end of where things are happening for you.

    And we'd love to have a conversation today about some of the things that you are doing organizationally around climate change, and the impact of climate change on your strategy and workforce. So, Gonzalo, maybe I could start with you and a question around the fact that weather is changing, climate is changing, things are becoming very unpredictable.

    You've had a 20-year strategy which has brought about seismic change for Iberdrola. I'd love to know how you're thinking about climate change in the context of your future strategy and how it's affecting your assumptions.

    Gonzalo Sáenz de Miera, Iberdrola
    Okay, a real pleasure. Weather may be unpredictable. However, climate trends, I think are very clear. Science is telling us that the weather is changing and we will have not only higher temperatures, but more frequent extreme events. So, the sooner we act, the less cost we will have in the future. And the main cause of climate change is an energy model based on fossil fuels.

    The role of Iberdrola for the last 20 years has been to try to contribute by replacing fossil fuels with renewables. So we are working on that, and we are changing our energy model, not just for climate — that is really important — but now in the international context, also for energy security. We cannot rely on an energy model based on fossil fuels that we have to import and that are subject to tensions due to international conflicts as in Ukrainian or the Middle East.

    And not just for climate, for energy security, but also for the economy. We cannot have an energy model based on fossil fuels that we have to import. It is cheaper nowadays — after the technological revolution of clean solutions — to have an energy model based on renewables that we produce here and that allows consumers today to have cheaper and cleaner solutions.

    We will accelerate our investment in renewables and especially in networks, to contribute to a better world, because we have to be aligned with the interests of society. And today, society is worried about climate change, is worried about energy security, and is worried about the economy.

    So we have our strategy — as you were mentioning — for the last 20 years, which has been based on renewables and networks and the current situation of climate change, of energy security and competitiveness is fostering electrification. And for this reason, we will accelerate our investment in renewables and especially in networks, to contribute to a better world, because we have to be aligned with the interests of society. And today, society is worried about climate change, is worried about energy security, and is worried about the economy.

    Julie Page, Aon
    It's amazing. How in that response, Gonzalo, you talk about the complexity of risk. We're here talking about climate change and the impact that that has. But you've brought geopolitical risk in as a multiplier of climate change and a consideration in response to climate change risks that we have around energy and energy security. Very interesting areas of discussion.

    Your success has been born out over those 20 years and evidenced in the fact that you now number two globally, number one in Europe. And in that context, there's been economic value here — eight times the growth. And when we think about that economic value, in sustaining it, we immediately start to think about what are the other areas in the organization of significance?

    Marta, maybe I can come to you here because a key area in continuing your growth and continuing to meet future demand, is the workforce. And I know that you think about your workforce from a risk and protection perspective, but also future skills and your title, in fact, the area you work, actually has within the title, one area that you consider, which is alliances.

    I'd love it Marta, if you could tell us a little bit about your strategy around workforce protection and workforces of the future for Iberdrola.

    Marta Martínez Sánchez, Iberdrola
    It's clear as climate has an impact and as we move further along that road, there will be a deeper impact. There are impacts on our workforce, there's also impacts on the way we do things and the way things are operated, which need to be taken into account.

    But also in this transition, there is a very big impact on employment and in fact, as we move on, there will be for every employment lost in the brown economy, there will be two jobs created in the green economy. And these are jobs that are high quality, that are the jobs of the future, because in the end, these will be the sectors and the positions that prevail.

    We work in alliances…to promote and to move faster in this transition. It is not just the technology and the competitiveness, it's also about bringing the skills in-house and having reskilling and upskilling and really making sure that the people are there when the jobs are created and vice versa.

    So, we have a challenge ahead building those skills, creating and building those capacities in our workforce and in general, making sure that people have those skills so they can take on those positions. We work in alliances and skills are also a centerpiece in some of those alliances. We work together to promote and to move faster in this transition. It is not just the technology and the competitiveness, it's also bringing the skills in-house and having reskilling and upskilling and really making sure that the people are there when the jobs are created and vice versa.

    Julie Page, Aon
    And the network side of the business, they — I should say the alliances — that you create there across the academic sector build out into the ecosystem of creating that talent. Maybe you could add a comment or two on that.

    Gonzalo Sáenz de Miera, Iberdrola
    We have the technologies to do this energy transition. Firms are ready to invest. So, what do we need? We need three things. Firstly, networks are really important because networks are needed to integrate cheaper renewables, but also to help to decarbonize the rest of the economy. So, industry, transport, buildings. For that, we need to electrify. That means replacing fossil fuels in sectors, such swapping the internal combustion car with an electric car, or a gas boiler with a heat pump.

    For that, we need networks. And today they are a bottleneck. So we need networks, but we need networks that are resilient to climate change. So we need more robust networks and we need a smarter network.

    Networks are really important because networks are needed to integrate cheaper renewables, but also to help to decarbonize the rest of the economy…And today they are a bottleneck. So we need networks, but we need networks that are resilient to climate change. So we need more robust networks and we need a smarter network.

    And networks are a regulated activity. So, we need a regulatory framework that is accessible and that accelerates investment in networks so that they are more robust and more resilient to climate change.

    The second thing is that we need is policies that lead the economy in this direction. So, we need industrial policies, we need regulatory policies, we need energy policies and we need just transition policies.

    And the third thing is alliances, because there are great opportunities, but this transition is not easy. So, we cannot rely only on individual actions. So, we need to work together, and I mean between firms, between administration, between universities, trade unions, finance and citizens — because together we are stronger.

    Let me give an example — we have launched an alliance that is called Q-Zero to decarbonize heat consumption in industry, because today the energy that is consumed in industry to produce heat comes from natural gas and we are not seeing enough development in this sector. So, we have launched this alliance with the help of universities and technological centers, specifically to listen to the demand, to listen to the challenges of firms of different sectors. We are seeing that they want to decarbonize the process because as Marta was saying, they want to lead the economy of the future.

    However, they are facing challenges. So, we are convinced that in order to accelerate action, we need to create more honest, stronger alliances, to listen to the demand and to understand the challenges, and to bring common solutions to politicians and policy leaders, to accelerate this process.

    We are convinced that in order to accelerate action, we need to create more honest, stronger alliances, to listen to the demand and to understand the challenges, and to bring common solutions to politicians and policy leaders, to accelerate this process.

    Julie Page, Aon
    Fantastic. I think you're talking very much about mitigation. And we often hear a conversation that's about adaptation. So, mitigation and adaptation, I know mitigation is very much at the heart of Iberdrola’s strategy. Marta, any thoughts around how mitigation and adaptation work together?

    Marta Martínez Sánchez, Iberdrola
    Well, I think Iberdrola really stands out as a company that has an integrated approach to mitigation and adaptation and really promoting and materializing the synergies that are generated between them. We do that as we invest in the energy transition and we build on those networks that are more robust, more resilient and more prepared for climate change, with newer and reinforcing technologies, such as pumped storage, for instance.

    And we do that in parallel with making our own assets and operations climate proof and integrating science, integrating new elements or new ways of working and new systems. And so, we do that at the same time. So, looking at this whole view, mitigation and adaptation, which are really two sides of the same coin.

    Julie Page, Aon
    Totally synergistic. Thank you very much, it is very insightful. A lot of food for thought for us. Tackling two of our megatrends, weather and workforce, in the same conversation, in the same industry sector. I really appreciate you taking the time to do that.

  •

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