After two and a half years of work, SpainNAB, the Impact Investment Advisory Board, has been formed as an Association with the incorporation of 28 organisations and independents, including the sustainability and business impact consultancy Transcendent..
SpainNABThe Advisory Council for Impact Investment in Spain has been formed as an Association with the incorporation of 28 independent organisations and individuals to continue to drive the impact investment market in our country.
Among the organisations that have joined are Transcendentrepresented by Ana Ruizsaid the consultancy's partner. "We are very happy to become part of SpainNAB to build an ecosystem committed to impact investment in our country along with 28 other companies, organisations and leaders in the Impact Economy. At Transcendent we want to contribute to promoting and consolidating an economy that generates positive social and environmental impact", says Ana Ruiz.
These additions join a strategic project for the country that emerged in June 2019 with the accession of Spain to the Global Steering Group for Impact Investment (GSG). Thus, in the current context of recovery and transition towards a fairer, more sustainable and equitable economy,
SpainNAB is consolidating its position as the leading organisation in Spain for the promotion of impact investment, a necessary tool to achieve a capitalism in which positive and measurable social and environmental impact is integrated into all economic and financial decisions.
Important developments since 2019
SpainNAB was born as a 16-person advisory board in June 2019 with the accession of Spain to the GSG. This council is today constituted as the SpainNAB Association and incorporates 12 new individuals and organisations, bringing the total to 28.
The GSG is an initiative that emerged in 2013 in the framework of the British presidency of the G8. It is chaired by the father of impact investing, Sir Ronald Cohenis the main global platform to promote this type of investment, of which 34 countries and the European Union are already members.
The achievements of more than two years of work can be measured in figures. Spain's accession to the GSG was a catalyst for the growth of impact investment in our country, reaching a figure of 2,378 million euros of managed capital in 2020, which represents 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 actors. An ambitious Action Plan, networking and the generation of cutting-edge knowledge have been fundamental parts of SpainNAB's success to date.
A new era for impact investment
The formation of SpainNAB comes at a pivotal moment for impact investing. In the midst of an unprecedented climate and social crisis, the G7 once again tasked the GSG with coordinating a working group, the Impact Taskforce, to draw up a roadmap to accelerate the volume and effectiveness of private capital seeking to have a positive social and environmental impact.
SpainNAB has participated in the work of this group and has been recognised with the inclusion of two pioneer Spanish cases in the recommendations report of the G7.
"We must take advantage of the momentum The current situation is a great opportunity to take impact investment to the next level, hand in hand with the entire ecosystem and with a clear role for the public sector as a catalyst for the market, as has happened in European countries such as France, Portugal, Italy and Germany," explains Juan Bernal, president of SpainNAB.