Impact investment consolidates in Spain with Spain NAB
After two and a half years of work, SpainNab, the Advisory Board for Impact Investing, has formed an Association with the incorporation of 28 independent organizations, including the sustainability and business impact consultancy Transcendent.
SpainNAB, the Advisory Council for Impact Investing in Spain, has been established as an Association with the incorporation of 28 independent organizations and individuals to continue promoting the impact investment market in our country.
Among the organizations that have joined are Transcendent, represented by Ana Ruiz, partner of the consulting firm. “We are very happy to become part of SpainNab to build an ecosystem committed to Impact investing in our country together with 28 other companies, organizations and leaders of the Impact Economy. At Transcendent, we want to contribute to boosting and consolidating an economy that generates positive social and environmental impact,” says Ana Ruiz.
These additions are part of a strategic project for the country that emerged in June 2019 with the accession of Spain to Global Steering Group for Impact Investment (GSG). Thus, in the current context of recovery and transition to a more just, sustainable and equitable economy,
SpainNab has established itself as the leading organization in Spain for the promotion of impact investment, a necessary tool to achieve capitalism in which positive and measurable social and environmental impact is integrated into all economic and financial decisions.
Important advances since 2019
SpainNab was created as an advisory board of 16 people in June 2019 with Spain joining the GSG. This council is today constituted as the SpainNab Association and incorporates 12 new individuals and organizations, up to a total of 28.
The GSG is an initiative that emerged in 2013 within the framework of the British presidency of the G8. Chaired by the considered father of impact investing, Sir Ronald Cohen, is the main global platform for promoting this type of investment, and of which 34 countries and the European Union are already part.
The achievements of the work of these more than two years can be measured in numbers. Spain's accession to the GSG was a revulsive factor in increasing impact investment in our country, reaching 2,378 million euros of managed capital in 2020, representing a growth of 26% compared to the previous year.
The market has not only grown in numbers, but also in the number and nature of players. An ambitious Action Plan, networking or the generation of cutting-edge knowledge have been fundamental parts of SpainNab's success to date.
A New Era for Impact Investing
The creation of SpainNab comes at a key moment for impact investing. In the midst of an unprecedented climate and social crisis, the G7 once again tasked GSG with coordinating a working group, the Impact Taskforce, to draw up a road map to accelerate the volume and effectiveness of private capital that seeks to have a positive social and environmental impact.
SpainNab has participated in the work of this group and has been recognized with the inclusion of two pioneering Spanish cases in the Recommendations report of the G7.
“We must take advantage of the Momentum current to take impact investment to the next level, hand in hand with the entire ecosystem and with a clear role of the public sector as a catalyst for the market, as has happened in European countries such as France, Portugal, Italy or Germany”, explains Juan Bernal, president of SpainNab.
