The implementation of policies and the definition of objectives with sustainable criteria They are present in practically the majority of Spanish companies. And not only because European legislation requires compliance with the objectives set for 2030 and the following years. ESG (by Environmental, Social And Governancein English) has gone from being a simple element of the corporate structure to one present in all aspects of a company’s life.
Inside IV ESG Forum of elEconomista.es It was discussed how the criteria sustainable, social and good governance has permeated businesses to the point that they constitute a fundamental pillar of companies when it comes to making their decisions and setting their objectives. In fact, there is a certain quorum when it comes to establishing the extent to which corporate identities have been green-tinted.
In the fourth panel of speakers of this sustainable forum, four common points were established as the central axis of sustainable policies. Thus, establishing measurable objectives, a good evaluation, allocating specific financing for ESG and transparency are the fundamental pillars for the future of companies which are committed to being part of the change of ecological transition, management responsible for resources and good governance practices. .
“The biggest challenge is making sustainability ingrained in everything. It’s a challenge but we are working to ensure that ESG is present in all processes. And it is a satisfaction when this is achieved”, commented the director of sustainable development and energy transition of Moeve, formerly Cepsa, Olalla del Río. In this line, underlined the director of ESG and New Business of ENGIE Spain , Alfonso Pascual “We are present across the entire value chain and in all projects. We are considered part of the company and not just as another area of activity of the company, because we contribute to the company as a whole,” commented the head of the energy company.
Although goal achievement is taken into account, business strategies now go beyond simple sustainability. In fact, it is common for ESG investments to be made with the short, medium and long term in mind. “Governance is not only hierarchical, but also transversal. It is important to be transparent in what we do. This is why it is essential to identify and assess the impact of each risk and opportunity. In the “E” it can be easy, but the impact in the “S” and in the “G” must be well identified,” commented Urbaser’s sustainability director, Fátima Araluce.
Indeed, the director of the legal department and head of ESG at Farmaindustria, Ana Bosch, focused on everything related to the social aspect and on how sectors like the pharmaceutical industry applied these criteria even before until the European Union begins to legislate in this area. . “ESG has permeated all layers of a company. From the point of view of a pharmaceutical group we aim to improve people’s lives. The drug has social value in saving lives, but it also represents savings by reducing hospital expenses and reducing the loss of employment opportunities. It is clear that in developed countries, 70% of the improvement in quality of life comes from the use of medicines,” Bosch explained.
To ensure that the entire company keeps sustainable challenges and goals in mind, Grupo Lobe’s director of strategy and development, Eduardo Bandrés, gives the example of his construction company. “From design to digitalization, including efficiency or production processes… All teams are involved before any investment have coherence in the development of the future,” commented Bandrés.
