In the final stretch of the year, we remember what was done to contribute to post-pandemic recovery and we are already looking to the new year with renewed objectives.
Without a doubt, these last two years have been especially hard in health, social and economic terms, but I consider that we have reasons to look to the future with optimism.
We will shortly start a 2022 that -as its first months go by- we hope will make it possible a downward trend in risks that currently affect the economy: coronavirus, inflation, high prices of raw materials and possible restrictions in the financial markets.
Focusing on the electricity sector, will continue to maintain very significant growth and value creation rates. The reason, the progressive decarbonization of the economy and the commitment to renewable energies, smart grids and storage. In addition, the acceleration in the development of renewable energies will reduce our dependence on gas.
The European Union has also shown a regulatory path for member countries based on rational structural solutions to mitigate impacts on prices produced by short-term market situations, while, with the package Fit for 55, focuses on environmental goals and makes a clear commitment to reduce greenhouse gas emissions faster.
In that sense, Iberdrola will maintain its objective of contributing to the fight against climate change and decarbonization with the development of sources of renewable energy, networks and storage, with additional planned investments of 60,000 million euros until 2025. In this way, will continue to be leader in offering its customers clean and competitive energy, but also in providing integral solutions for electrification that make their lives easier, with the products smart, solar, mobility Y home. Innovation will continue to be one of the pillars on which to build our plan as a company, with a presence in new technologies and with new business models, but also the contribution to society through our social dividend will be: a commitment to the sustainable future of the Planet and to the development of the communities in which we operate, generating employment, strengthening the economy and, among others, participating in their public investments with the payment of taxes, which last year exceeded 7,500 million in the world. And all this in collaboration with the institutions and from the maximum transparency and informative veracity. Iberdrola has made awards to suppliers that exceed 22,000 million euros since the beginning of the pandemic. Its activity contributes to the maintenance of 400,000 jobs in the world.
We therefore have an exciting path ahead of us, which we enter with the experience that we have learned to understand, 20 years ago, that only investment in renewable energy and smart grids will allow us to protect the planet and to those who inhabit it, reducing dependence on fossil fuels, much more expensive and polluting, while creating wealth and employment in the environment.