Clean energy giant Iberdrola first Spanish business awarded Fair Tax Mark

The Fair Tax Foundation are pleased to announce renewables business Iberdrola have achieved the Fair Tax Mark and are the first Spanish business to do so.

Iberdrola Group develop grids, renewable energy activities and electricity trading in Europe, the US, Brazil, Mexico and Australia. As at December 2023 they were the largest utility company in Europe by market cap.

Read coverage of the announcement in Spanish here.

The clean energy giant today bolsters their sustainability credentials by securing the Fair Tax Mark, the gold standard accreditation of responsible tax conduct. More than 100 parent companies and 250 distinct trading businesses are Fair Tax Mark accredited, including listed companies, co-operatives, social enterprises and large private businesses in the UK, Denmark, Finland, Germany, Italy, the Netherlands, Sweden and now Spain.

Jaime Boswell, Head of Accreditation at the Fair Tax Foundation, said: 

“It’s fantastic Iberdrola are flying the flag for fair tax as the first Fair Tax Mark accredited business in Spain. They are leading the way for others to follow.

“As well as a highly responsible public tax policy that indicates robust governance, their tax transparency report is really comprehensive. It contains information about the group’s taxes across various jurisdictions, including their public Country-by-Country Reporting, as well as significant cash tax contributions. It’s exactly the level of detail we’re looking for when awarding the Fair Tax Mark.”

Iberdrola have been assessed against the Fair Tax Foundation’s Global Multinational Business Standard, which is available in Spanish here.