Environmental Policy

At Atlantica, we are determined to be part of the solution to climate change as a key pillar of our long-term strategy:

  • We are committed to investing in renewable energy assets, as well as in transmission, natural gas and storage as enablers of the energy transition.
  • The environment will remain a priority in planning our business through: (i) innovation and eco-efficiency initiatives and (ii) the gradual reduction of environmental impacts of all our activities.

Climate change mitigation is core to our strategy. We invest in and manage a sustainable portfolio of assets that reduce carbon emissions. As a result, we have set targets to:

  1. Maintain 80% of our adjusted EBITDA including unconsolidated affiliates generated from low-carbon footprint assets, including renewable energy, transportation and transmission infrastructures and water assets
  2. Reduce our emission rate per unit of energy generated by 10% by 2030.

Through our Environmental Policy, we seek to:

  • Protect the environment and prevent pollution in the areas where we operate and integrate environmental protection in the decision-making processes.
  • Comply with environmental laws, regulations, permit requirements and internal policies in each of the markets where we operate.
  • Continue to increase environmental awareness.
  • Reduce our GHG emissions over time and disclose our GHG reduction initiatives, targets, deadlines, monitoring and periodic audits.
  • Analyze and implement internal energy efficiency measures in our operating assets.
  • Maintain and periodically review our environmental management system.
  • Foster using natural resources more efficiently.
  • Maintain the necessary indicators to obtain quantifiable information to measure and monitor the environmental performance and impacts of our activities and define and implement action plans to reduce such impact in relation with:
    • Emissions: calculating and monitoring our Scope 1, 2 and 3 GHG emissions.
    • Water: calculating and monitoring our water usage by promoting rational and sustainable use.
    • Waste: calculating and monitoring our waste and implementing initiatives aimed at minimization and improvement of waste management.
  • Appropriately manage environmental risks and opportunities. We have developed a risk analysis methodology based on ISO 31000 and common market practices. As such, we commit to maintaining a robust risk analysis process that contains:
    • Risk identification: identify the causes that may turn into a risk situation, classifying those potential causes as natural, human,
      intentional, accidental and technological.
    • Risk assessment: evaluate the risk including an analysis of the potential frequency and impact.
    • Risk management plan: manage the risk in order to mitigate its potential effects.
  • Consult and collaborate with environmental, third-party oriented stakeholders when appropriate and foster discussions and partnerships on environmental issues with public and private entities.
  • Identify relevant non-GHG air emissions, analyze initiatives and appropriately implement measures to reduce such emissions.
  • Implement and share best practices when appropriate.
  • Work with third parties who operate under principles that are similar to those set in this Environmental Policy and who promote compliance to it by their own suppliers and vendors.
  • Select suppliers preferentially based, among others, on the lower environmental impact of their product or service.
  • Work with our suppliers on improving their environmental performance.
  • Report key measures taken towards environmental conservation in the areas where we operate.
  • Perform internal audits of our assets aimed at reviewing compliance with our best practices and promoting constant improvement.

The Board of Directors of Atlantica is responsible for the oversight of environmental risks and opportunities. The Board also oversees the implementation of specific initiatives. Management periodically reports to the Board on the progress of our ESG plan and on the main environmental indicators.

Atlantica’s senior management monitors the implementation of this Environmental Policy in the Environment, Social and Governance (ESG) Committee, which is held once a month.