• Strategic focus and future orientation

Key observations:

Iberdrola’s renewables section opens by covering the regulatory environments material to the organisation. Each of the regions Iberdrola operates in are discussed separately; a technique which is carried throughout the ‘Primary Businesses’ section. The section addresses the question posed in paragraph 4.23 of the International <IR> Framework by outlining the specific risks that affect Iberdrola’s ability to create value. Future performance targets, previous year activities and a summary outlook for 2016-2020 are also included, with quantitative data supplementing narrative throughout.