Iberdrola has launched Carbon2Nature with the mission to develop high-impact environmental energy solutions that support both decarbonisation and sustainability.
With the major growth of new energy systems expected in the years ahead in the form of renewable generation, particularly solar and wind, along with the supporting transmission and distribution infrastructure, environmental and sustainability considerations are becoming increasingly important for today’s utilities.
With this in mind, Iberdrola has launched the new Carbon2Nature (C2N) company to harness the potential of carbon credit markets to drive the development of projects that will generate the credits and that then would be made available to customers to support their decarbonisation.
Iberdrola’s stated aim is to capture and store more than 61Mt of CO2 in natural sinks such as forests, coastal ecosystems and agricultural soils through the promotion of conservation and restoration projects in these.
The focus is on regions where Iberdrola is present and where such solutions have significant potential, with over three-quarters of the projects likely in Latin American countries such as Brazil, Mexico, Colombia, Peru and Chile and the remainder in countries in the northern hemisphere, including Spain, the United Kingdom and Portugal.
C2N is already working on the development of projects in Brazil, Mexico, Colombia, Chile and Spain, the company reports.
“To face the global challenge of climate change, the firm was created with the ambition to make a long-term impact at an international level,” says Miguel Ángel García Tamargo, director of Carbon2Nature, who previously held various roles with Iberdrola clean energy subsidiary Avangrid.
“In order to achieve this, it is committed to diversification in geographies and projects and promotes collaborative strategies for their development with local communities and other actors, guaranteeing the highest levels of quality.”
RGI, IUCN energy solutions partnership
Another new initiative in this area is a partnership between the Renewables Grid Initiative – an EU-funded TSO, NGO collaboration – and the International Union for Conservation of Nature (IUCN) with a five-year agreement on the development of sustainable renewable energy and electricity grids.
A key project currently being developed is the ‘Global Initiative for Nature, Renewables & Grids’, with the intent to support key stakeholders to incorporate nature-positive approaches in renewable energy generation and transmission.
If successful, the project should lead to a monitoring and reporting system, showcasing solutions and progress globally.
Antonella Battaglini, CEO of the Renewable Grid Initiative, comments: “It is possible to address climate, energy and biodiversity security in parallel when well planned, energy infrastructure can contribute to create nature protection and restoration opportunities.”