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Expenditures and investments

The Company incurs expenses deriving from actions related directly and indirectly to the environment, as well as other expenses connected with ecological fees and taxes. Direct environmental investments are also made, such as those related to environmentally-friendly technologies.

As regards possible environmental contingencies, they are sufficiently covered by the insurance policies taken out by IBERDROLA and the provisions established to this end.

Every year, the Company's Sustainability Report provides information on environmental expenditure and investment.

The expenses of and investments made by IBERDROLA during 2012 to preserve the environment of the area in which it operates are set forth in the following tables:

Environmental Protection Expenditures and Investments by Type 2012 (thousands of euros)
  EXPENDITURES INVESTMENTS
Emissions Treatment 30,048 24,865
Waste Treatment 183,101 8,030
Environmental impact remediation 126,605 34,979
Environmental Prevention 268,334 981,425
Environmental Management 115,171 13,047
TOTAL 723,260 1,062,346
ENVIRONMENTAL PROTECTION EXPENDITURES AND INVESTMENTS BY REGION 2012 (Thousand of Euros)
  EXPENDITURES INVESTMENTS
Spain 281,574 411,317
United Kingdom 356,348 479,002
United States 72,622 50,394
Brazil 11,868 132,770
Mexico 314 19,362
Rest of the World 534 70,290
TOTAL 723,260 1,062,346

The standards for costs include levies, environmental fees, and emissions certificates, which were not taken into account in the calculation for 2011.

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