Press Room

Madrid, January 24, 2025.- Iberia presented at the International Tourism Fair 2025 (Fitur) a calculator for the socio-economic impact of its activity.

This tool, designed in collaboration with the strategic sustainability and impact consultancy firm Transcendent, whose methodology and data have been verified by AENOR, makes it possible to quantify Iberia's impact in terms of economic impact and employment.

The Director of Sustainability at Iberia, Teresa Parejo, recognizes that “it is very important for Iberia to have metrics to measure the impact generated by our activity. Calculating the GDP and employment generated in the countries where we operate is a first step that marks the way in 2025 towards new metrics that define the socio-economic impact generated by aviation.”

This initiative began to take shape in June 2023, when Iberia developed, together with the strategic sustainability and impact consultant Transcendent, an initiative focused on measuring and valuing the economic and social impact generated by the airline on three selected routes: Mexico City, Bogotá and Miami.

The main impacts that have been analyzed, both in Spain and in the different destinations, have been the creation of direct, indirect and induced employment and the contribution to GDP of the tourism sector. Data from Oxford Economics, IATA and UNWTO, among others, were used as sources of information.

“With this measurement tool, we have helped to assess in monetary terms the socio-economic and environmental impact generated by air routes, and this is something transformative because it allows us to evaluate, monitor and help to make strategic decisions, not only from an economic point of view but also from a social impact and contribution to the environment,” explained Ángel Pérez Agenjo, managing partner of Transcendent.

In 2025, the integration of sustainability in companies will continue to be a priority, but the way to manage it will go further. Capitalizing on the opportunity to adapt to climate change, leveraging Green Talent, incorporating biodiversity as a weighty variable, integrating sustainability into the value chain, taking solid steps in monetary impact assessment, with impact investment focused on generating systemic change, and regulation based on CSRD that not only serves to report but also to manage.

“Business sustainability is immersed in a maturation process that will be consolidated over the next year. Beyond the focus on regulation, companies increasingly understand the value they can obtain from professional sustainability management, whether from the point of view of processes, their value chain, the risks and opportunities derived from their dual materiality or from being aware of the net impact generated by their activity,” he said Ángel Pérez Agenjo, Managing Partner of Transcendent.

The 7 big trends in sustainability and impact for 2025 are:

1. Capitalizing on the opportunity to adapt to climate change

The year 2024 was a year marked by extreme weather events. In the second half of the year alone, we experienced a hurricane season in North and Central America with intensity above the average of the last 30 years, the second largest wave of fires in Canada on record and a tragic DANA that devastated the Spanish uprising, leaving more than 200 fatalities in its wake. All this in a year that will be the warmest ever recorded, according to data from the European Union's Copernicus program, exceeding for the first time the reference 1.5ºC compared to pre-industrial levels.

At the economic level, Losses in Spain caused by extreme weather events between 1980 and 2023 amount to 95,966 million euros, according to the European Environment Agency, to which we should add a decrease in Spanish GDP in 2024 of between one and two tenths, due to DANA from the end of October.

Globally, the economic cost associated with climate effects has doubled in the last 20 years, according to data from the World Economic Forum (WEF), and may put at risk up to 25% of some companies' EBITDA in the coming years.

For this reason, and in a context in which investment in climate change mitigation continues to rise, with significant leadership in the European market and, despite existing doubts about the possibility of a new abandonment by the United States of the Paris Agreement, those companies that are able to capitalize on the opportunity for adaptation, you will see how an approach traditionally associated with risk management can also serve as an opportunity to improve competitiveness.

Given that physical climate risks will continue to increase, inaction doesn't seem like a viable alternative from the standpoint of preparing companies for the future.

2. Duplicate Green Talent

In 2025, the development of green talent in Spain is emerging as a key factor in accelerating the transition to a sustainable economy. This evolution responds to the growing demand for professionals specialized in areas such as sustainability, renewable energy, the circular economy and climate technology.

Jobs linked to sustainability in Spain will grow by 44% between 2023 and 2026, according to some estimates. Areas such as renewable energy, waste management and ESG (environmental, social and governance) consulting are leading these contracts.

It is estimated that jobs related to sustainability will represent up to 10% of total employment in Spain by 2030, doubling current figures.

The rapid growth in demand for green professionals poses a significant challenge. According to LinkedIn's Global Green Skills Report 2024, the gap between supply and demand for green talent will reach 18.7% in 2030 and double to 101.5% in 2050. While the global demand for this type of professional is growing by 11.6% per year, the supply is growing at only 5.6%.

In Spain, this situation translates into a Deficit of one million young people with sustainable skills. In our country, the situation is even more challenging because the demand for green talent is growing by 50% per year, ten times faster than the supply. This disparity underlines the need to accelerate training and skill development in this field.

But the need to increase green talent is not a phenomenon exclusive to Spain. The European Commission forecasts the creation of 18 million new green jobs worldwide by 2030.

Committing to the development of this talent will be essential to face the challenges of climate change and to lead the transition to a fairer and more sustainable economy, and companies that invest in the training and retention of this talent will be better positioned to lead the change.

3. Biodiversity is incorporated as a weighty variable in the sustainability equation

According to the World Economic Forum, more than 50% of global GDP depends on the services offered by natural ecosystems, such as drinking water, pollination and climate regulation. Therefore, protecting and restoring biodiversity is essential to ensure the sustainability of economic activities.

This paradigm shift is driven by the increasing pressure from investors, and regulators.

International initiatives such as the Kunming-Montreal Global Biodiversity Framework and the Taskforce on Nature-related Financial Disclosures (TNFD) are setting new standards for companies to assess, manage and disclose their impacts and dependencies on nature.

In parallel, companies are beginning to recognize that ecosystem degradation and biodiversity loss not only represent environmental challenges, but also significant economic and operational risks. This is the case of agri-food, infrastructure or pharmaceutical companies, which are seeing how the risks associated with biodiversity degradation and habitat loss directly affect their own business.

In 2025, companies they will significantly increase the integration into their business management of impacts and dependencies related to nature, evaluating risks and defining a strategy in accordance with the biodiversity mitigation hierarchy (Avoid, Reduce, Restore, Regenerate, Transform) to strengthen their resilience and protect their supply chains.

But they're not just looking at risks. Companies are starting to identify opportunities related to nature that allow the development of new lines of business, such as regenerative agriculture, the use of natural materials, and other nature-based solutions (SBn) are growing rapidly.

The financial sector is expected to play a key role in this process, since the transition to an economy that is more respectful of nature requires a massive mobilization of capital. According to the UNEP State of Finance for Nature 2023 report, Investments in SbN are expected to triple by 2030 and quadruple in 2050, reaching a total of 700 billion euros per year.

It is estimated that, taking into account the sectors with a greater dependence on nature, the market for Natural loans can reach a total of 5 billion euros in 5 years only for Spanish listed companies.

Spanish companies and financial institutions can play a critical role in this transformation, since Spain is the country with the greatest diversity of habitats in Europe, both of species and of ecosystems.

4. Sustainability in the value chain: Opportunity or need?

In 2025 It is expected that the integration of the social dimension in the responsible management of supply chains takes on greater prominence.

Driven by a combination of stricter regulations and increasing social pressure, companies will be called upon to align their operations with high social and environmental standards, in particular in their value chains.

Regulations such as the Corporate Due Diligence Directive on Sustainability (CSDDD), adopted in April 2024, establish a more rigorous regulatory framework. As of 2027, this regulation requires companies with more than 1,000 employees and 450 million euros in revenues to identify, prevent and mitigate real and potential adverse impacts on human rights and the environment along their value chains.

The importance of this regulation is significant. More than 90% of the 2,000 companies evaluated by the “2024 Social Benchmark” report of the World Benchmarking Alliance (WBA) do not meet even half of the fundamental social standards in their suppliers.

By 2025, companies must go beyond good intentions and integrate this social dimension into their strategies. Supply chains will be the focus of a radical transformation because regulation will lead companies to tighten controls over their suppliers. Information on working conditions, environmental impact and ethical compliance will be essential, especially in sectors with complex supply chains such as distribution, food and the financial sector.

The year 2025 as well It will be the year of technology as an ally in the management of sustainable supply chains. Traceability will be critical to complying with regulatory standards, requiring tools such as intelligent sensors and digital platforms to collect, manage and analyze large volumes of data. In addition, artificial intelligence will play a crucial role in facilitating risk analysis and data-based decision-making, allowing companies to prioritize and mitigate social and environmental risks more effectively.

5. Solid progress in monetary impact assessment

With the objective of responding to the growing demand from investors and clients for access to transparent and comparable information, it was necessary to develop a framework for evaluating the impact generated by companies in monetary terms that would standardize impact accounting.

The International Foundation for Valuing Impacts (IFVI), founded in 2022 based on the Impact Weighted Accounts initiative of Harvard University, has become one of the most internationally recognized entities in terms of monetary impact assessment.

The year 2024 was a year of clear progress at the global level in terms of methodological development, including the valuation in monetary terms of greenhouse gas emissions, water consumption, decent pay and occupational health and safety.

In October 2024, IFVI published the necessary resources to develop environmental impact accounting, including a methodological framework and a database with nearly 100,000 value factors that allow the monetary evaluation of 430 impacts in 268 different geographies.

This milestone, accessible free of charge to any company interested in accounting for its environmental impact, Mark a before and after, and demonstrates that Impact accounting is possible, as well as accessible on a large scale.

Looking to the future, Expected in 2025 that impact assessment in monetary terms begins to be consolidated in the corporate sphere in Spain, following the trend of large IBEX companies that are leaders in sustainability that have already undertaken this process.

6. Impact investing will focus on generating systemic change

In 2025, Impact investment in Spain will experience accelerated growth, consolidating itself as a key pillar for financing projects that combine economic profitability with social and environmental benefits.

This boom responds to the growing interest of institutional and private investors in aligning their financial decisions with the Sustainable Development Goals (SDGs), and because of the regulatory and public funding support that drives this trend.

In Spain, according to SpainNab, direct impact investment reached 1,517 million euros in 2023, representing a growth of 26% compared to the previous year, mainly due to impact private equity funds, which have doubled their managed assets. A figure that is expected to increase significantly to 5 billion euros in 2025, according to estimates by the Spanish Association of Impact Funds (AEFI).

In this acceleration process, play a The fundamental role of the FIS of COFIDES (Social Investment Fund). Equipped with 400 million euros, this fund aims to finance entities with a positive social impact through which to respond to the social and environmental challenges we face. This fund seeks Generate additionality in the entities in which it invests, through the implementation of technical assistance projects, while attracting catalytic capital.

The FIS positions Spain as the fourth country in the world in public and public-private impact investment initiatives and the second in the EU.

In 2025, the impact investment ecosystem in Spain will focus on such important aspects as additionality and the generation of systemic change, something essential for the impact to last over time, consolidating itself as an essential catalyst for initiatives that address social and environmental challenges.

7. CARD. Just to report or to manage?

Business sustainability It has ceased to be an optional or reputational issue to become a fundamental pillar of corporate strategy.

The Corporate Sustainability Reporting Directive (CSRD) will continue to shape much of the business sustainability agenda in 2025. Listed SMEs and Spanish companies with more than 250 employees, and/or a turnover of 50 million euros and/or 25 million euros in total assets will be required to comply with the requirements of the CSRD.

Next year, some large companies will publish their first sustainability reports following the requirements of the CSRD., while the rest of the large listed companies and SMEs will prepare to meet these requirements starting in 2026.

This obligation has implications that may go beyond reporting, enriching decision-making, starting with the assessment of social and environmental impacts and the financial implications for the company.

Another major challenge will be to incorporate value chains and ensure that the suppliers of these companies can meet these requirements.

It is estimated that At European level it will affect about 50,000 companies, compared to the 12,000 that were involved by the old regulation.

Spain has a high proportion of SMEs and large companies that will have to adapt their internal processes to comply with new non-financial reporting standards. According to data from the Banco de España, it is estimated that there will be about 5,000 companies in our country that will have to report on sustainability next year.

Transcendent, a strategic consultant for sustainability and impact, has published its Impact Report, which includes the main conclusions of its contribution over the past year to the sustainable transformation of its clients, its impact on the ecosystem and the value it creates in the people who are part of it.

The impact mindset and purpose of the consultancy firm _focused on accelerating the transformation of its clients to generate a positive impact on society by strengthening its business_, have been the two major levers for generating impact, multiplying projects with high recognition of results by clients and a high degree of evaluation by the team.

Throughout 2023, Transcendent experienced a significant increase in its customer satisfaction index, increasing its Net Promoter Score (NPS) by more than 20 percentage points, currently standing at 83.3 points, 60% above the industry average. This remarkable result demonstrates the strong relationship it maintains with its clients and the contribution of value to the projects in which it intervenes.

92% of companies say they have achieved short-term improvements in sustainability and impact after developing projects with Transcendent.

And one in three clients say that working with Transcendent has allowed them to increase knowledge about sustainability and impact on the organization.

More resources and more visibility for sustainability

Changing the way in which companies manage and perceive sustainability and the impact on their corporate structure has been another of its priorities for Transcendent.

Demonstrating that impact is a way to generate value, and disseminating this message through the different links of organizations, has made it possible to place sustainability on the agendas of companies.

One in four clients consider this to be the biggest change generated in the company after carrying out projects with Transcendent and more than 80% are very satisfied with the visibility generated in these bodies.

This increased visibility resulted in an increase in the commitment of management bodies to sustainability, generating, among other things, an increase in the dedication of resources allocated to sustainability. In fact, almost 60% of the companies this consultancy worked with last year ended up increasing the resources allocated to this topic.

The close and trusting relationship with its clients has consolidated Transcendent as a leading consultant in sustainability and impact.

The values of honesty, transparency and rigor that characterize the consultancy firm are recognized by its clients, with whom it maintains solid relationships over the years. 100% of customers value the availability, flexibility and closeness of the Transcendent team, highlighting their commitment to projects and their responsiveness.

With the capacity to innovate and build new initiatives

The innovative capacity of the Transcendent team is another key aspect of the results achieved and of the perception of the companies with which it has achieved.

Three out of four clients consider the team's ability to innovate and to move ahead, giving projects a longer journey and identifying opportunities beyond their original scope, to be key.

A way of working that means that 75% of customers are very satisfied with Transcendent's ability to tangibilize the projects carried out and turn them into real initiatives in the company.

A team aligned with the company, 55 points above the national average

The personal and professional growth of employees is a key aspect for Transcendent.

The results reflect the degree of compliance with this objective. 90% of the team is motivated by managers and partners to advance their own development and 100% of employees are motivated to contribute to the consultancy's growth.

Contributing to maximizing the positive impact of the work done is a purpose that is also reflected in the assessment made by the team. With an Employee Net Promoter Score (eNPS) of 81.8 points, it is more than 55 points above the national average, reinforcing the degree of loyalty that employees have with this consultancy firm.

Relevant player in the impact ecosystem

Transcendent has continued to actively participate in the sustainability and impact ecosystem to promote the transformation that society and the planet need.

As a native impact company, it promotes impact economics in Spain, through participation in key organizations such as the Unlimited Business Circle and the SpainNab Board. She is a promoter of the BCorp community, training agent in different Spanish universities and disseminator of knowledge about sustainability.

As Ángel Pérez Agenjo, managing partner of Transcendent, explains, “beyond the regulatory binge we are experiencing, it is increasingly evident that sustainability and impact are central variables in a company's value generation or investment decision, and for Transcendent it is a priority to remain rigorous, flexible, expert and reliable partners on this journey to positive impact”.

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Madrid, October 16, 2024 — Impact Day 2024, the leading impact event in Spain, was attended this year by Sir Ronald Cohen, known as the “father of impact investing” and president and co-founder of GSG Impact, and Paul Polman, former CEO of Unilever and business leader who promotes systemic change in the world.

The event, organized by the Impact Observatory -an initiative of the sustainability and impact consultancy Transcendent and the law firm Ontier- was a meeting of leaders already committed to sustainability and social impact who seek inspiration at the highest level.

In front of more than 300 businessmen, executives and company directors, both Paul Polman and Sir Ronald Cohen urged that the level of ambition be increased in the process of transforming the business model towards “a purely positive impact”. As Polman explains, “we need to build net positive businesses, that is, companies that take responsibility for the impact they generate on the world and improve the well-being of all people.” And the fact is that, he added, “the cost of inaction is already greater than the cost of action”.

To this end, he argued that it is necessary to transform the traditional business model, currently based solely on maximizing profits or profitability for the shareholder, into a “purely positive” model, which involves measuring all the impacts generated by a company to “give more than it receives”.

From the perspective of financial opportunity, Cohen insisted that the new approach based on the trinomial profitability-risk-impact is not only a lever for generating value, and a tool for facing challenges, but also a great business opportunity. “The question of when global transparency will come to the new impact accounting is no longer “if” it will come but “how soon” we will have it,” Cohen explained.

In this regard, Cohen announced that just this week the International Foundation for Impact Assessment (IFVI) has released the methodology, models and a database with nearly 100,000 elements to assess and monetize environmental impact.

After years of work, this milestone marks a before and after because it demonstrates three aspects that are key: That impact accounting is feasible on a large scale, that impact accounting is valuable and relevant to decision-making, and that significant progress is being made to expand the way in which we conceptualize impact.

Steps are being taken, but neither are they enough nor is progress being made fast enough

Cohen and Polman agreed that the positive impact must go beyond conventional sustainability because it is not about “causing less damage”, but rather about transforming business models so that companies, as Polman defends in his book “Clearly Positive”, give back to society and the planet more than they extract. This implies a production model that repairs, restores, and regenerates, increasing the well-being of all stakeholders, from employees to investors, to customers, suppliers and communities.

Positive impact becomes a strategic business opportunity when companies seek to solve social and environmental challenges through their activities, positioning positive impact as a central element in corporate strategy.

Spain is facing a series of social and environmental challenges that require a coordinated response from the private and public sectors. Although many companies are already integrating the impact into their business strategies, especially forced by increasingly demanding European regulation, “not enough progress is being made, and it is not being done quickly enough”, they agreed to point out.

In addition, significant challenges persist that require innovative solutions, which require investment in new technologies and greater collaboration between the public and private sectors, but also with other organizations.

In a context of political, economic and social crisis and increasing complexity, the opportunity lies in companies not only responding to regulatory requirements and those of their stakeholders, especially shareholders, but also to lead a radical change in their “business as usual” business model to work on a different model.

This approach requires collaboration and coordination, financial and non-financial resources, and innovation and technology. But, above all, as Polman emphasized, it requires courageous, committed and ethical leadership that puts the interests of all its stakeholders and society in general at the center of decision-making.

The impact economy offers Spanish companies, a business fabric made up mostly of SMEs, the opportunity to design new business models, explore new markets, develop products to provide innovative solutions to the great challenges we face. The use of new technologies is a lever that can bring social impact to scale.

The major challenges faced by Spanish companies in the face of impact

With the growing demand for transparency, due to the new social awareness on the part of consumers and investors, companies are under a high degree of scrutiny about the impact they generate.

European regulation is also pushing towards greater transparency of the damages caused by companies. This is, as he explained María Herrero, president of Impact Observatory and partner of Transcendent, one of the biggest complaints from companies, especially smaller ones. “The excess of Spanish regulation means more than 1 million pages published in the Official State Gazette, it weighs equivalent to a dozen cows, a height comparable to the Sagrada Familia, or a straight line length equivalent to the Madrid-Murcia route, that is, 378 km”, as explained by the CEOE when referring to the regulation of companies.

The Spanish company is also concerned, according to the CNMV, about the geopolitical crisis with the conflicts in Ukraine and the Middle East, whose immediate effects are uncertainty, the threat to supply chains and the rise in prices of raw materials, especially energy resources. There is also concern about the rise in rates that generate volatility in markets and increases the cost of credit and financing for companies, concerns about the evolution of exchange rates, the impact of increasing regulation on climate and sustainability, and an environment of greater digitalization, which increases security breaches in information systems.

That's why the bigger the storm, the more resilient companies have to be. For Polman, “clearly positive” companies will be better positioned to face all these major challenges that jeopardize the company's own long-term survival.

Companies that lead with commitment

The event, presented by Pedro Rodero, president of Ontier Spain and vice-president of the Impact Observatory, and by Ana Ruiz, partner of Transcendent, culminated in a round table moderated by Alejandra Kindelán, president of the Spanish Banking Association (AEB), What has he counted with the participation of Elena Valderrabano, global director of Sustainability at Telefónica; Teresa Parejo, Director of Sustainability of Iberia; Sara Ramis, Director of Customer, Marketing and Sustainability at Barcelo Hotel Group; Manuel Rua; Director of Sustainability of Amadeus, and Ángel Pérez Agenjo, managing partner of Transcendent.

All of them have analyzed the fundamental role of companies, demonstrating leadership and commitment to an economic model that promotes sustainable and responsible growth.

The meeting was a unique opportunity to understand, firsthand, the paradigm shift driven by the new trend of impact, or “purely positive” thinking, which maintains that impact must be the engine that drives business decisions, leading them towards the greatest economic opportunity of our time: the search for solutions to major global challenges, especially climate change and inequality.

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The increased interest in sustainable travel, regenerative tourism, a greater supply of sustainable accommodation, the growing interest in supporting local businesses and consuming regional products, respect for Local Communities, accessible tourism and compliance with Human Rights are the 7 trends that are transforming the tourism sector towards a more sustainable way of traveling, according to Transcendent, a strategic consultant for sustainability and impact.

The concept of “impactful holidays” is gaining popularity among travelers of all ages. This new approach to tourism not only seeks to offer unforgettable experiences, but also to contribute positively to local communities and the environment.

As Ángel Pérez Agenjo, managing partner of Transcendent, explains, “impactful vacations represent a positive evolution in the way we travel because traveling not only allows us to discover the world in a more conscious and respectful way, but also provides an opportunity to leave a positive mark on the places we visit”.

The 7 trends for a vacation with a Positive Impact, according to Transcendent, are the following:

1. Increased Customer Awareness in Sustainable Travel

More and more travelers are looking for options that reflect their personal values in terms of sustainability and social responsibility. According to recent studies, a high percentage of tourists are willing to pay more for sustainable travel experiences that respect the environment and support local communities. This trend is driving tourism companies to adopt more responsible practices and to offer greener and more ethical options.

79% of travelers say they want to travel more sustainably in the next 12 months, and 75% want travel companies to offer more sustainable travel options, according to the “Sustainable Travel Report 2023” published by Booking.com.

2. Search for Regenerative Tourism

Beyond sustainable tourism, regenerative tourism focuses not only on reducing negative impact, but also on actively restoring and revitalizing ecosystems and local communities.

This way of traveling includes the rehabilitation of natural habitats and supporting community development projects that promote the long-term resilience and well-being of the areas visited.

Regenerative tourism aspires to leave destinations in better condition than they were found, promoting a positive and lasting impact.

3. Growth in the Supply of Sustainable Accommodation and Transportation

Demand for sustainable accommodations, such as environmentally certified hotels and low-emission transportation options, is on the rise.

From solar-powered hotels to the use of bicycles and electric cars to get around destinations, tourists are opting for greener options.

4. Enhancing Responsible and Local Consumption

Travelers are showing a growing interest in supporting local businesses and consuming regional products. This includes everything from eating at restaurants that use local and organic ingredients, to buying handicrafts made by local artists.

Opting for locally-managed accommodations, restaurants and stores not only brings direct economic benefits to the community, but it also strengthens the local economy and preserves cultural traditions.

5. Promoting Respect for Local Communities

This practice goes beyond simply visiting a destination; it involves conscious and respectful interaction with the people and cultures of the place. Travelers are increasingly interested in learning about the customs, traditions and ways of life of the communities they visit, and in contributing in a positive way to their preservation and development.

Many travelers are looking for authentic experiences that allow them to participate in festivals, ceremonies and daily activities of local communities. This cultural immersion promotes a deeper understanding and greater empathy for local inhabitants.

In fact, 68% of travelers are willing to avoid popular destinations and attractions to avoid contributing to overcrowding, according to the “Sustainable Travel Report 2023”.

6. Promoting Accessible Tourism

Accessible tourism focuses on ensuring that travel experiences are inclusive and accessible to all people, regardless of their physical, sensory or cognitive abilities.

This trend includes the adaptation of infrastructures, such as hotels and places of interest, to be accessible to people with reduced mobility, as well as the provision of services and activities designed to meet the needs of all travelers.

By promoting inclusion, accessible tourism not only opens up new opportunities for millions of people, but it also creates a more equitable and respectful travel environment.

7. Focus on Compliance with Human Rights

More and more travelers and tour operators are ensuring that their activities respect and promote human rights. This includes choosing suppliers and destinations that guarantee fair working conditions, prevent child exploitation and protect the rights of local communities.

By prioritizing the fulfillment of human rights, tourism becomes a positive force that contributes to the well-being and dignity of all the people involved.

World references such as John Elkington, W Nordhaus or Sir Ronald Cohen, an impact assessment leader in a large multinational such as Sonja Haut, an expert in social entrepreneurship like Liam Black and a delightful inspirational book from José María Batalla's House of Carlota are the 6 recommended readings for this summer by Transcendent, a strategic consultant on sustainability and impact. Some books, explains Ángel Pérez Agenjo, managing partner of Transcendent, “for those who believe that the world is changing, that there is another way of doing business and that companies have to play a fundamental role in that change, from within, reinventing their way of working and placing positive impact at the center of their activity”.

1. Tickling Sharks (J. Elkington)

In his latest book, Elkington explores the world of business sustainability through metaphors and stories that invite us to reflect on the importance of innovating for a purpose beyond economic benefit. Reviewing his long history in the field of sustainability, Elkington, known for coining (and “discontinuing”) the term “triple bottom line”, emphasizes the need to balance social, environmental and economic impact to ensure a sustainable future for companies and society.

The book highlights cases of companies that have adopted sustainable practices and how they have managed not only to survive, but to thrive in an environment that is increasingly aware of environmental challenges. Through its pages, Elkington stresses that companies must act as agents of positive change, promoting inclusion and ethics at all operational levels. Finally, “Tickling Sharks” offers not only a practical guide for business leaders on how to incorporate sustainability into their corporate strategy, but also on how to know how to influence the decision makers in a company so that they want to advance aspects that are central to sustainability.

2. The Spirit of Green (W. Nordhaus)

“The Spirit of Green” by W. Nordhaus addresses the intersection between economy and sustainability, proposing practical and political solutions to address climate change.

Nordhaus, winner of the Nobel Prize in Economics, explores how green policies not only benefit the environment, but can also boost economic growth. Throughout the book, Nordhaus highlights the importance of carbon taxes and other market mechanisms as essential tools for reducing greenhouse gas emissions. He argues that these approaches are not only effective, but also necessary to encourage companies and individuals to adopt more sustainable practices.

The author also examines the role of technological innovation and international cooperation in the fight against climate change. With an optimistic approach, “The Spirit of Green” proposes that, with the correct implementation of policies and global collaboration, it is possible to mitigate the effects of climate change and achieve a more sustainable and prosperous future.

3. The Case for Impact (Sonja Haut)

“The Case for Impact” by Sonja Haut defends the need to integrate the evaluation of social and environmental impact on corporate and investment strategies. Haut argues that companies have a crucial role in creating a sustainable and equitable future and provides a framework for measuring and managing impact.

The book presents a series of success stories and practical examples that demonstrate how companies can adopt an impact-based approach to generate long-term value. Haut emphasizes the importance of transparency and accountability in impact management, suggesting that these practices can strengthen the reputation and resilience of companies.
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“The Case for Impact” provides tools and methodologies for business leaders and investors to evaluate and improve their social and environmental impact.

Haut concludes that, by prioritizing impact assessment, companies not only contribute to the common good, but are also better positioned to thrive in an increasingly conscious and demanding market.

4. Run your company like a Down syndrome (José María Batalla)

“Run your company like a Down syndrome” by José María Batalla proposes an innovative and humane approach to business management, inspired by the qualities and values of people with Down syndrome.
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Batalla suggests that characteristics such as authenticity, transparency and empathy can positively transform organizational culture. The book is full of anecdotes and examples that illustrate how these values can be applied in the business environment to promote an inclusive and collaborative work environment, a central ingredient in the success of La Casa de Carlota. Batalla argues that, by adopting these qualities, leaders can build more cohesive and motivated teams, capable of facing challenges with creativity and resilience.

It offers practical guidance for implementing these principles in daily management and argues that this approach not only improves the quality of working life, but can also lead to more sustainable and successful business results in the long term.

5. How to Lead with Purpose (L. Black)

It is a guide to how leaders can inspire and lead organizations based on a clear and significant purpose. From his extensive experience as a manager mentor of multinationals and social entrepreneurs, Black says that leading with purpose not only motivates employees, but it also aligns the company's efforts with values and objectives that transcend economic benefit.

The book explores various strategies and techniques for identifying and communicating purpose authentic, stressing the importance of coherence between the company's actions and its stated mission. To this end, he counts cases of companies that have managed to integrate their purpose at all operational levels, improving the degree of permanence of employees in the company and a stronger reputation in the market.

n its final chapters, “How to Lead with Purpose” offers practical advice for: leaders promote a purpose-centered organizational culture. This approach not only is it ethically correct, but it's also critical to long-term success deadline, as today's consumers and employees are increasingly looking for align with organizations that share their values and commitment to impact positive.

6. Impact (Ronald Cohen)

This is the first summer that this book is available in Spanish. It focuses on thetransformation of capitalism through the incorporation of social and environmental impact at the heart of business and investment decisions. Cohen, a pioneer in impact investing, argues that it is possible to generate financial benefits while addressing social welfare.
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The book examines various investment models that prioritize both performance financial as the positive impact, presenting success stories and strategies implemented by leading companies and investment funds in the sector. Cohen advocates for a paradigm shift where impact measurement becomes so important such as traditional financial accounting.
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“Impact” provides a detailed view of how individuals, companies and governments can collaborate to create a world where capital works at the service of humanity and planet. Cohen argues that this approach is not only ethically correct, but that it is also essential to address the most pressing global challenges.

Jose María Elola, who joins Transcendent as Sustainability & Social Impact Manager to reinforce the consultancy's management team, has extensive experience in managing impact generation projects in consulting.

Blanca Carcasona, Elena de Apellániz, María José de la Puente and Ana Ruiz-Ruescas, who have just joined the team, will make it possible to develop and manage new transformation projects in large companies and managers in the field of sustainability, ESG management and impact.

According to Ángel Pérez Agenjo, managing partner of Transcendent, “the addition of these five professionals to the team reinforces our abilities and talent to continue helping our clients in their progress on the ladder of sustainability and impact. Only with a specialized team highly qualified in trends, regulation, and advances in impact measurement and management, can we add the value that we believe companies will have to incorporate into their sustainability projects, beyond compliance with regulatory requirements.”

Transcendent, a strategic consultant for sustainability and impact, has analyzed the aspects that Spanish companies should take into account over the next year to advance their ESG commitments both at an environmental and social level.

In 2024, managing social and environmental aspects will continue to be a priority for companies, but the way to manage it will go further. With shorter term commitments, more standardized measurement and accounting methodologies that will make it possible to monetize the impact, with greater transparency in Claims environmental to avoid the Greenwashing and with a viralization of decarbonization, which will reach companies across the value chain, in order to truly reduce companies' reach footprint 3.

“The sector will be immersed in a process of evolution, maturation and sophistication over the next year, largely driven by regulation, which will bring about intense changes for companies,” said Ángel Pérez Agenjo, managing partner of the consulting firm.

The 7 big ESG trends for 2024:

1. The beginning of the end of Greenwashing

The approval in the European Parliament of the 'Green Claims Directive', which is scheduled for the first quarter of 2024, will be a key milestone in the framework of the fight against the practice of Greenwashing. A regulation that will also be reinforced by the Regulation on Ecodesign of Sustainable Products, which aims to be approved by the Commission during that same period of 2024, incorporating ecological design requirements to European products in order to improve their environmental sustainability. Within this regulation, it also contemplates the establishment of a new “Digital Product Passport”, aimed at helping consumers and businesses make informed decisions when buying products.

2. Sustainability as a new Skill judgmental

The growing commitment of companies to sustainability has triggered a revolution in the labor market. We are witnessing a significant boom in demand for professionals specialized in areas of sustainability. According to the International Labour Organization (ILO), 24 million new “green jobs” will be created by 2030.

In 2024, we will see how they are consolidated positions such as ESG Controller in financial departments, something that practically does not exist today. La The sector's employability will continue to rise. The average hiring rate with at least one “green” ability It is 29% higher than the labor market average.

New hires of young people will not meet demand of the nearly 4,000 corporations that have committed to achieving net zero emissions by 2030. In fact, in 2024 it is expected that more than 70% of vacant positions in sustainability are filled through external signings and because they cannot be filled with internal promotions, due to lack of training.

As a result of this uptick in demand for jobs in this sector, there will be a greater demand for academic training specialized in sustainability.

3. No more goals for 2050: from grandiloquence to concreteness

Pressure from investors, ratings and regulation will cause objectives beyond 2030 to lose value this year. In the coming months, companies will have to be held to account for their social and environmental objectives to shareholders, investors, employees and the market itself. Therefore, ESG ratings and rankings will no longer assess medium and long-term objectives grandiloquent and the balance between sustainability objectives and the need to generate value for shareholders will begin to shape companies' sustainability strategies.

4. Big business as a catalyst for sustainability

Big companies are going to lead the change. The Corporate Sustainability Due Diligence Directive (CSDD) will oblige companies to identify, prevent, mitigate, eliminate and repair the adverse effects on human rights and the environment generated by their own activities, that of their subsidiaries and that of their value chain. This directive states The focus on scope 3 emissions. El The drag effect that will lead to the reduction of the footprint throughout the supply chain will be key in 2024, since it represents on average 75% of total emissions.

5. The takeoff of impact investing in Spain

Impact investment in Spain is expected to take off in 2024. The volume of assets managed by the supply of impact capital in Spain in 2022 increased by 21% compared to 2021 and it is expected that continue to increase in 2024, encouraged by the creation of financial solutions that allow companies to access cheaper financing in exchange for generating more impact.

Although the figures for these assets, which seek to obtain financial returns while having a positive impact on the environment and society, different private equity funds and foundations expect growth of more than 50% in their managed assets, have not yet been released. Along the same lines, the Government of Spain has created the Social Impact Fund (FIS), with resources of 400 million euros and managed by Cofides, to invest in companies and projects that reinforce entrepreneurship and the social economy in Spain. In this way, public money can act as a catalyst to attract private investment.

An impact investment that next year will be marked by the financing of transformative projects associated with energy transition and social impact projects (vulnerable populations, identified risks).

6. Integrating sustainability and impact into business strategy

The integration of sustainability and business impact of companies will be key in 2024 for those companies that want to lead the change. Until now, materiality analyses have been projects without much use. With the CSRD and the requirement to carry out dual materiality analysis, risks and opportunities emerge in the eyes of financial directors, risk managers, as well as when carrying out strategic exercises and business plans. More than 50,000 European companies will be required to include this analysis in their business strategies in the coming months.

In Spain, the draft of the CSRD is still subject to change, which will be one of the essential aspects of a regulation that will take place during this year and that will place the sustainability information at the same level as financial reporting in the decision-making of different interest groups.

7. Measure to monetize impact, for companies that want to go further

The number of companies that are going to publish net sustainability and impact income statements will multiply in the coming months. In the corporate sphere in Spain, we will see how some companies, in order to differentiate themselves and seek to generate a net positive impact, will begin to incorporate impact measurement and management into their strategies and reporting reports.

This is still an incipient process, since only 14% of IBEX 35 companies and 2% of the continuous market have incorporated impact measurement models, according to the Transcendent report “Evolution of ESG management towards impact on listed companies”.

The consolidation of standardized methodologies that allow companies to measure, value and monetize the impact of companies on the environment and society will favor the measurement of the impact and the monetization of the actions carried out by companies.

Transcendent, a strategic sustainability and impact consultant, has published a report entitled “Evolution of ESG management towards the impact of listed companies”, in which it has concluded that only 14% of IBEX 35 companies have incorporated impact measurement models into their business.

Among the other companies in the continuous market analyzed, only 2% have published an impact measurement analysis. This fact is, for the companies that are carrying it out, an opportunity to differentiate themselves and promote a profound transformation of their business and the sector in which they operate.

The study shows a clear trend of increase in environmental and social commitments in the last three years by the 35 IBEX companies and the 50 continuous market companies analyzed by Transcendent.

In this sense, 81% of the listed companies has some environmental objective, which represents 103% more than in 2020. A percentage that drops to 56% for social objectives; which, however, have increased by more than 360% in this period.

Current status of the environmental and social commitments of the 85 listed companies analyzed

Thus, the social objectives they are still the indicators with the most room for improvement for Spanish companies; although there is a discrepancy between the IBEX35 companies, which last year had 80% of tangible objectives in social aspects, and the rest of the companies analyzed, with 38%.

Among these, over the past year, most have been related to diversity within the company, to the increase in the number of women on boards of directors; and to the management of suppliers, in order to include their ESG assessments within the supply chain.

On the other hand, the IBEX35 companies have demonstrated a deep and determined commitment to environmental sustainability and they have aligned themselves with the regulation, since all of them have environmental objectives. On the other hand, of the rest of the listed companies analyzed by the consultancy firm, 68% have established objectives related to climate change, experiencing a very positive evolution, of more than 160% compared to those set by them in 2020.

Among the environmental objectives, the circular economy has begun to play a greater role, with 63% of IBEX35 companies focused on this sustainable development of the economy, as opposed to only 20% of the rest of the continuous market analyzed in the Transcendent report.

The IBEX35 companies have also led, within this area, the objective of being Net Zero in emissions to the atmosphere, with 63% compared to 15% of the rest of the continuous market. Likewise, 66% of the IBEX35 is committed to the Science-Based Objectives Initiative (SBTi), while only 18% of the other companies analyzed have relied on it.

Ana Ruiz, partner at Transcendent, says that “through this study, we want to promote in all Spanish companies the opportunity to differentiate themselves and truly promote change by incorporating impact management into their business activities. Thus, these data show that, despite the difficulties faced by listed companies in reporting all information, regulation has succeeded in boosting progress in setting sustainability objectives. In addition, that they have made great strides in their ESG commitments in terms of social aspects and that the pending task is to measure their impact, since this will offer them the possibility of leading the transformation of the Spanish economy to truly incorporate impact into strategic decision-making”.

Tuesday, October 10, 2023. The two reference bodies for impact measurement in the United States and Europe, IFVI (International Foundation for Valuing Impacts) and VBA (Vaue Balancing Alliance), which have been collaborating through a joint venture since last January, have met in Madrid to present joint advances in impact accounting.

Dan Osusky, Chief Research Officer of IFVI - a spin off of the Impact Weighted Accounts developed at Harvard Business School-, and Christian Heller, CEO of VBA, participated in an event led by Ángel Pérez Agenjo, managing partner of Transcendent, and organized by the Impact Observatory, an initiative promoted by Transcendent and Ontier.

The meeting, entitled “Impact Accounting: the pragmatic solution for business leaders to take decision-making and disclosure to the next level”, addressed how the standardization of accounting and impact evaluation methodologies will facilitate the standardization of assessments and measurement methodologies worldwide.

A preview of the joint presentation of financial data and Impact

In this regard, the representatives of IFVI and VBA highlighted the evolution of the joint methodology they are developing, in what direction it is heading and how it is implemented and used at the corporate level and in the financial market.

In addition, they have explained how VBA members are allowed to generate the necessary data along the value chain for business management, financial planning and reporting at the same time. They have also shared with companies how to present the financial statement and an impact statement in the future to understand the creation of total value of business models; and how policy makers and policy makers drive the movement.

Dan Osusky, Chief Research Officer of IFVI, pointed out that “impact accounting is a natural step for Spanish companies on their path to sustainability, and it will help them both to comply with emerging regulatory requirements and to convert the data they are reporting and disclosing into more useful information for decision-making by their leaders and investors. An understanding of the local context is essential for the relevance of impact accounting, and IFVI welcomes and appreciates the opportunity to engage with stakeholders at the local level, as impact accounting methodologies are developed and improved.”

For its part, Christian Heller, CEO of VBA, stressed that “it is increasingly clear that the requirements for transparency of companies' sustainability results are increasing. As a company, we still have the opportunity to help shape this process, both in accounting and in the disclosure of information: and, to achieve a pragmatic, relevant and value-creating solution, companies must submit a joint proposal. That's why impact accounting and the corresponding impact statement now have a more promising approach.”

Computing the impact to get ahead

With this high-level meeting, the Transcendent and Ontier Impact Observatory intends to continue promoting knowledge and management of social and environmental impact on companies. Its objective is to promote leadership that is committed to impact as a lever for growth and long-term value creation for society.

Ángel Pérez Agenjo, Managing Partner of Transcendent and who led this meeting, stressed that “we are very pleased to have organized this meeting between a select group of large Spanish companies with the two leading organizations in the assessment and measurement of impact because it has allowed companies to know first-hand what are the main advances in impact accounting, as well as how to compute this measurement to go ahead”.

The references in the methodology of Impact Measurement

International Foundation for Valuing Impacts (IFVI) emerged from the Impact Weighted Accounts Project at Harvard Business School. In 2022, IFVI was launched as an independent organization in order to scale up and achieve the ambitious goals set by the G7 Impact Working Group in its December 2021 report.

Its mission is to build a global impact economy that provides solutions to the great social and environmental challenges we face, integrating impact assessment into financial analysis, capital allocation and decision-making. That is why it works to translate the impact into the current language and makes information about the impact accessible and actionable.

For its part, Value Balancing Alliance (VBA) is an alliance of multinational companies that come together with the common objective of creating a way to measure and compare the value of the contributions made by companies to society, the economy and the environment; a metric that was not previously reflected in a company's balance sheet. In this way, the alliance translates environmental and social impacts into comparable financial data; through members who test the methodology to ensure its viability, robustness and relevance.

IFVI and VBA have established the Technical and Professional Evaluation Committee (VTPC) to direct, validate and approve the research and impact assessment methodology produced by the cooperation of both organizations. Thus, they have an open source methodology that is comprehensive and applicable worldwide, which will allow companies and investors to translate social and environmental impacts into monetary language and make them comparable to financial performance.

Transcendent, a strategic consultant for sustainability and impact, has published its 2022 Impact Report, which includes the main conclusions of its contribution over the past year to the transformation towards sustainability of its clients, its impact on the ecosystem as a native company in this area and the value it creates in the people who are part of it.

20% of customers improved their results in the short term

Transcendent's purpose is to accelerate the transformation of its clients to generate a positive impact on society and the environment. In this regard, 52% of the projects developed by the consultancy firm are transformative and high-impact, focused on creating value, measuring impact and developing a strategic roadmap to make companies more sustainable.

In addition, 70% of its clients positioned themselves as sector references, a key aspect for the future of companies and for the development of relationships with their stakeholders. Some improvements have also been reflected in their results and that is that 20% of the consulting firm's clients improved their short-term results as a result of the projects carried out with Transcendent.

All this has allowed the sustainability and impact consultancy firm to have an exceptional assessment of its clients, of 67 in NPS, thanks to its flexibility and closeness, the rigor, the quality of its deliverables and its capacity for innovation.

Key agent in the sustainability ecosystem

Transcendent is also actively involved in the sustainability and impact ecosystem to promote the transformation that society and the planet need.

As a native impact company, it promotes impact economics, promotes the B Corp community, training agent in different Spanish universities and disseminates knowledge about sustainability.

He obtained his B Corp certification in 2021 and is one of the seven partners in Spain of the B Corp Way, a platform that brings together leading consultancies to promote this certification process.

More than 40% of Transcendent's clients consider that collaboration with the consultancy firm has been key to accessing sectoral events and forums specialized in sustainability, so it has become a facilitator of meetings in this area.

A team with a loyalty rate three times higher than the national average

As a socially responsible company, Transcendent has analyzed the commitment of its team in its 2022 Impact Report. Thus, it highlights that 90% of its employees feel that they can carry out their personal purpose in their daily lives, while 88% feel highly motivated to help the consultancy to grow.

For all these reasons, Transcendent employees have a high level of commitment and satisfaction, which is essential to maximize the impact generated by the company.

In 2022, Transcendent obtained an Employee Net Promoter Score (eNPS) _a tool that allows us to know the degree of loyalty of workers with their company_ of 81.3 points, three times above the national average.

In the words of Ángel Pérez Agenjo, managing partner of Transcendent, “the main conclusions of our 2022 Impact Report are very positive in terms of the relationship with our customers and reflect that our role, both for companies and for the impact ecosystem as drivers, is relevant and important. We believe that much remains to be done, as we are in the beginning of capitalizing on impact as a strategic asset, but these data make us very proud of what we achieved over the past year.”

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Transcendent, a strategic sustainability and impact consultant, together with the law firm Ontier, have created the Impact Observatory, a meeting space where companies can learn about new initiatives in the areas of impact measurement and management, sustainable finance and regulation.

This initiative comes at a key moment when, both in Europe and in the US, regulatory requirements for sustainability are increasing.

Companies, driven by this regulation and the opportunity it represents for their reputation, together with the possibilities of more attractive financing, seek to balance their economic benefit with the social and environmental impact they generate, in a society that is increasingly aware of environmental effects, such as the risks of climate change, or social risks, such as talent, training and employability policies of companies.

The Observatory wants to be a place where companies committed and responsible for generating a positive impact can learn about and access the latest trends regarding opportunities and challenges in this area. An example of this is the Impact Weighted Accounts Initiative, a Harvard University project that monetizes the impact generated by business activity, both the cost generated by its negative externalities, such as its carbon footprint, and the income generated by excess income due to its positive externalities, such as its policy of opportunity, talent and gender diversity for its employees.

Measuring, managing and reporting impact

One of the purposes of the Impact Observatory is to publicize best practices in the measurement, management and reporting of social and environmental impact, a key and complex issue that concerns business leaders.

At the present time, the challenge has ceased to focus on the effort to minimize negative impact, to move on to a new requirement to maximize the positive impact generated by companies, since they are the biggest generators of social and environmental impact, being positive or negative depending on the business activity or sector in which they carry out their activity.

In this path, it is necessary to address a deep and transversal transformation, to define what impact (materiality of the impact), how it will be measured (methodology and KPIs) and the management of that impact to improve it. “You can't manage what you don't measure,” he explains. María Herrero, president of the Impact Observatory and partner of Transcendent.

However, “when we look at the company with a new approach based on impact, opportunities that were previously unknown and went unnoticed come to light that represent an enormous competitive advantage for the company and that it is necessary to empower and make profitable and, on the other hand, there are also risks that, without knowing it, can jeopardize the value of the company and, even worse, its image and reputation”, adds Herrero.

“The role of regulation around ESG issues can be perceived as a higher cost if we only talk about reporting and compliance. However, regulation also promotes the opportunity for funding that, based on social criteria and good governance, is more attractive,” he says Pedro Rodero, vice-president of the Impact Observatory and executive president of Ontier Spain.

Impact Week, with Sir Ronald Cohen in Spain

The first activity of the Impact Observatory will be the celebration of the Impact Week, which will take place in Madrid from 12 to 14 June and will bring together leaders from the business and financial sector on the theme of Impact and Sustainability in Spain and in the world.

The event will feature the exceptional participation of Sir Ronald Cohen, recognized worldwide figure as the father of Impact Investing and founder of Global Steering Group for Impact Investment (an initiative that was born out of the G8 in 2003), among other very important initiatives in terms of impact and social innovation worldwide, such as the first public-private bank in the United Kingdom with a budget of more than 800 million pounds to finance social impact projects.

Sir Ronald Cohen will visit our country, invited by the consultancy firm Transcendent and the law firm Ontier, to promote a movement in which companies play a key role, demonstrating leadership and commitment to a new economic model that generates sustainable and responsible growth without leaving anyone behind.

The time to put Impact on the business map

The idea of sustainable development was born in 1987 at United Nations headquarters with a report “Our Common Future” that defined for the first time this concept as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs”. Since then, the idea of fair and responsible sustainable development without leaving anyone behind has grown to such an extent that there is no board of directors that does not have sustainability and impact as strategic axes in its business model.

Moreover, companies have begun to understand that the social and environmental aspects of their economic activity are under the scrutiny of consumers, suppliers, investors and regulators, who drive business policies towards triple economic-social and environmental profitability and demand an increasing commitment in their business strategy to these factors.

“The Impact Observatory was created with the mission of boosting the impact on the business strategy of companies, at a time when investment and financial returns take on a new meaning, that of measurable positive impact for society and the planet,” he says Ángel Pérez Agenjo, Managing Partner of Transcendent.

This change of model is reflected in a greater recognition of companies that meet ESG criteria, promote the creation of long-term value and prioritize economic activities that optimize profitability, social and environmental impact, sustainable growth driven by new technologies and a more responsible social awareness, rather than mere financial return exclusively in the short term.

In this regard, the opportunity for attractive funding based on ESG criteria is clear. The global volume of ESG investment has reached 35 trillion dollars. On the other hand, impact investment (that aimed at contributing to a social challenge not addressed by the conventional market) has grown exponentially, doubling annually since 2016. In 2007, this impact investment reached 230 billion dollars and In 2022 it reached 1.164 trillion dollars, according to the latest report of the GIIN (Global Impact Investment Network).

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Transcendent, a strategic consultant for sustainability and impact, is advancing its business project and strengthening its management team with the appointment of Fernando Acevedo as a new partner who, after extensive experience in consulting, is now linked to the project led by Ángel Pérez Agenjo.

Fernando Acevedo has been a partner at Accenture for 16 years, where he led the area of consulting and innovation in financial services, being responsible for the insurance area for Spain, Portugal, Africa and Israel, and responsible for technology consulting for Spain, Portugal, Africa and Israel.

After this long period and before joining Transcendent, Acevedo has worked as an independent consultant advising companies and institutions such as RACC (Real Automóvil Club de Catalunya), as well as participating in the group of High-Level Experts of EIOPA (European Insurance and Occupational Pensions Authority), to analyze the impact of Artificial Intelligence on the insurance sector from the point of view of ethics.

The new Transcendent partner has more than 28 years of experience in different areas related to innovation, technology, sustainability and impact. With her appointment, the consultant goes one step further in strengthening its executive management after the incorporation of María Herrero also as a partner.

According to Ángel Pérez Agenjo, managing partner of Transcendent, “the appointment of Fernando Acevedo shows that our project will have the best talent to continue helping leading companies in their sustainability and positive impact strategies. Our priorities are to promote growth that generates high value for our clients, while we continue to strengthen our absolutely differential position as an impact consultant in the Spanish market.”

“My vital objective is to be able to contribute to a better society and a better planet. Transcendent offers me a unique opportunity to achieve this from my area of expertise: the transformation of companies towards sustainability. She is a fantastic consultant, native to sustainability and dedicated only to sustainability, with a team of excellent professionals who are very personally committed to social and environmental challenges,” says Fernando Acevedo.

With a degree in Computer Science from the Polytechnic University of Madrid, Acevedo has completed the Management Development Program (PDD) at the IESE Business School of the University of Navarra and is a Master's Degree in New Economics from the Global Hub for the Common Good Foundation.

Madrid, 16 November 2022.- The setting of environmental objectives is still more integrated into companies than social objectives. While 72% of the companies analyzed set environmental objectives, only 38% do so in social matters. Although the gap is still significant, there has been a change in trend compared to 2020 in which only 13% of companies set goals in the social sphere.  

This is one of the main findings of the study “The evolution of environmental and social objectives in listed companies”, which analyzes a sample of 85 companies that are listed in the continuous market, including all the companies in the IBEX 35, carried out by the strategic consultancy firm for Sustainability and Business Impact Transcendent.

The conclusions confirm an acceleration in the pace of incorporation of social and environmental objectives in companies. Of the total number of companies analyzed, 72% establish and publish environmental objectives. However, there is a different pace in setting these objectives among the companies that make up the IBEX 35 compared to the rest of the listed companies.

In the environmental field, while 91% in the IBEX 35 set concrete and measurable objectives, only 58% of the rest of the listed companies do so.

Decarbonization and the circular economy, the main goals

Among the IBEX 35 companies, 91% have measurable and quantifiable environmental objectives, 52% more than the previous year.  

Among the IBEX 35 companies that quantify their environmental commitments, all of them set climate change objectives related to the reduction of greenhouse gas emissions. Specifically, half of the IBEX 35 companies have committed to being Net Zero before 2050 and 17% establish carbon neutrality before that date.

“Reducing the carbon footprint of companies is already a priority and will continue to be so in the coming years. In this sense, companies must take their commitment much further, seeking to become Net Zero. To this end, the management of its scope 3 will become a critical element, as well as other lines of action that are not yet so present in the communicated objectives, such as the circular economy,” says Ana Ruiz, partner at Transcendent and director of this study.

Almost half of the IBEX 35 companies report circular economy objectives, mainly linked to the reduction of waste sent to storage and recycling, which shows that all the opportunities offered by this area are not being taken full advantage of.

To a lesser extent, they establish objectives for the protection of natural capital, focused mainly on reforestation and the minimization of water consumption. Only 37% set objectives to protect the natural habitat and if they do, they are usually aimed at reforestation and minimization of water consumption.

The gap is reduced with more social commitments

During the 2021 financial year, great progress was made in setting social objectives, although it continues to occupy a secondary place for companies compared to the environmental field. 38% of the companies analyzed have started setting social objectives in 2021, compared to 13% in 2020.

Among the 35 in the IBEX, 54% of companies reported specific social objectives in 2021, compared to 29% in 2020, registering an increase of 86% in just one year.  

In addition, there are different speeds in its integration into the IBEX 35 compared to other listed companies where only 28% have set objectives in this area compared to 2% in the previous year.

“As of today, the environmental factor is still much more integrated into companies compared to social aspects, but we have detected a very significant advance in the last year and we hope that this trend will be consolidated in the short and medium term with the arrival of the entry into force of the European Social Taxonomy, which will provide standardization, rigor and common metrics,” explains Ana Ruiz.

‍All companies with social objectives set objectives related to their employees

All IBEX 35 companies that have set social objectives have established commitments aimed at their employees. This dimension is mainly focused on incorporating more women into managerial positions.  

Six out of 10 IBEX companies have established some type of objective aimed at involving their suppliers in complying with ESG criteria.  

However, there is still a lot of room left in the customer arena. Despite the fact that all companies express commitments to customer satisfaction, only 26% quantify objectives in this regard.  

A somewhat lukewarm percentage has been detected when it comes to setting objectives to reduce negative impacts in the local context or promote the economy in which the company operates.

“For companies, the next major challenge will be to go beyond the active management of ESG aspects and begin to measure and manage the impact they generate from their business. This requires, first, analyzing the social and environmental contribution of companies in their environment and in their main interest groups and, second, prioritizing those decisions that maximize positive impact and the creation of long-term value. It is precisely by maximizing impact that companies have the opportunity to differentiate themselves and to achieve a competitive advantage over the rest,” explains Ángel Pérez Agenjo, managing partner of Transcendent.

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Madrid, 14 April 2022.- Neinor Homes has launched a project to measure the impact of its promotions. The project, carried out together with the business sustainability consultant Transcendent, has allowed the development of its own tool based on international standards, which allows the quantification of the impact that the company generates with its housing developments.

Based on an internal process of identifying and prioritizing impacts, which has involved both the Management Committee and key people in the organization, Neinor Homes has developed its own tool, a pioneer in its sector.

The measurement framework collects the most relevant impacts and classifies them into three dimensions: the impact on the habitability and well-being of residents, the economic sustainability of local communities and businesses, and the impact on the environment.

Specifically, this tool will transversally measure 3 dimensions and 9 social and environmental aspects of your housing developments: Accessibility to housing, accessibility to basic services, promotion of a healthy lifestyle, family well-being and social cohesion, employment generation, promotion of local development, promotion of local business and commerce, promotion of sustainable mobility and efficient housing design.

“The project will allow us to measure and manage impact as a source for making better strategic and investment decisions and is a step forward in our purpose of contributing from real estate to the improvement of society,” said José Cravo, Director of Investor Relations at Neinor Homes.

The measurement methodology

Impact measurement has been developed with a broad vision, paying attention to the importance of analysis in all phases of the life cycle of a promotion, from the investment phase to the subsequent habitability of homes.

The analysis took into account different points of view:

• As an investment: evaluating social criteria within the decision-making process.

• Like Planning: Understanding how housing construction will benefit residents and the municipality.

• From design: Understanding how housing design decisions impact the well-being of families.

• From a construction perspective: Understanding the impact of the construction of new homes on construction companies, subcontractors and the Public Administration.

• Because of its habitability: Determining the impact on residents, neighbors of the neighborhood and local businesses benefiting from the arrival of residential developments.

For the development of the tool, the Impact Management Project (IMP) framework has been used, a pioneering global association that brings together numerous impact measurement standards.

“Measuring and managing impact helps to ensure the creation of healthy, sustainable neighborhood communities where the well-being of families is promoted in a quality environment,” explains Álvaro Conde, Director of Governance, Risk and Compliance, Internal Audit and Sustainability at Neinor Homes.

Neinor Homes, ESG leader in the real estate sector

Real estate, which has 2.4 million m2 of floor space, 325 developments and 13,300 homes for sale, 35 developments and 3,500 homes for rent, and 2,880 homes delivered in 2021, is one of the largest real estate platforms in Spain.

With this project, Neinor Homes aims to become a benchmark for promoting the transformation of the real estate sector towards more inclusive and sustainable models, consolidating the company's leadership in terms of sustainability.

In fact, the company has been considered by the Sustainalytics rating as the best residential developer in the world in ESG criteria, with a score of 10.5 (low risk), and has been recognized as one of the best ESG companies out of the more than 4,000 companies that Sustainalytics analyzes, recognizing it as Top ESG Performer 2021 in the Industry and Region categories.

“We are aware that this project is only the beginning of the journey. We are committed to sustainability and impact and we know that this is a long and demanding process of continuous learning,” says Álvaro Conde.

With the support of Transcendent, a boutique consultancy expert in sustainability and impact, we have launched an ambitious and pioneering project for measuring social impact that has been carried out in four major phases.

The three dimensions of the measurement framework are made up of 9 impacts that are disaggregated into indicators that allow us to quantify the impact generated.

Aware of these challenges, Neinor's Board of Directors approved the 2021-2025 Sustainability Plan

We are ambitious and we work every day to be a reference in the sector and lead the transformation of society towards more inclusive and sustainable models.  

Madrid, 24 February 2022- Despite the progress made in sustainability and the fact that all companies demonstrate their commitment to people and the planet, only 40% of the companies analysed report concrete and measurable environmental objectives. This percentage drops to 13% in the case of social objectives.  

This is one of the main conclusions of the study "The management of ESG aspects in listed companies", which analyses a sample of 85 companies listed on the continuous market, including all IBEX35 companies, carried out by the business impact consultancy Transcendent.

Although all the companies disclose their commitments at a high level, there are still few that communicate their ESG objectives. In the case of IBEX35 listed companies, 60% report specific, measurable and quantifiable environmental objectives. However, this figure drops to 26% for other listed companies.  

"We are detecting an unprecedented acceleration, but the speed at which companies are advancing is not the same, and the difference between IBEX 35 companies and the rest of the listed companies is very palpable", says Ana Ruiz, partner at Transcendent and head of the study.

The study shows that companies are focusing more on environmental aspects compared to social ones. Only 29% of IBEX 35 companies communicate specific, measurable and quantifiable social objectives which, in most cases, are linked to diversity and inclusion. In the rest of the listed companies, this figure drops to 2%.  

"Nowadays, the environmental factor is much more integrated in companies than social aspects", says Ana Ruiz, “and this highlights the difficulty companies have in defining and measuring the social contribution they make”.

The report shows that there is a significant difference between IBEX companies and other listed companies with regard to the use of incentives linked to ESG performance.  

More than half of IBEX35 companies (54%) have a variable remuneration system linked to ESG performance. Most of the remuneration is linked to the fulfilment of sustainability objectives, especially environmental ones, such as the reduction of Scope 1 and 2 CO2 emissions or the reduction of water consumption.  

The rest of the listed companies show a still incipient incorporation of this type of incentives, with only 18% declaring to have a bonus linked to ESG performance.

"Senior management remuneration packages linked to social and environmental objectives are going to accelerate their implementation as part of remuneration policy, both in the short and long term, because there is a trend among all stakeholders (consumers, companies, employees, investors, regulators and public institutions) to measure and value the impact of companies", explains Ángel Pérez Agenjo, Managing Partner of Transcendent.

Sustainability Committees on Boards of Directors, on the rise

In just two years the number of companies that have incorporated governing bodies dedicated to sustainability management has increased considerably, especially in the case of IBEX35 companies.  

The great progress made by IBEX35 companies in terms of sustainability governance has not yet materialised in the rest of the companies listed on the continuous market.  

The average among all the companies in the sample shows that 53% of them have a governing body responsible for dealing with sustainability issues exclusively or together with other issues and reporting to the Board of Directors. According to the report, in 14% of cases this function is integrated into other existing committees or bodies, generally the Appointments and Remuneration Committee.  

68% of IBEX 35 companies have a Sustainability Committee (either specific or shared with other functions), which reports directly to the Board of Directors, while in 2018 this figure was three times lower (20%).

"This evolution in the last 2 years is largely due to the growing demand from investors and the increase in regulation in these aspects, including the reform of the CNMV's Code of Good Corporate Governance", explains Ana Ruiz.

But there is a significant difference with other listed companies, as only 32% of them formally address ESG issues within a governance body, whether dedicated exclusively - or not - to sustainability.

Madrid, September 28, 2021.- The MASMOVIL Group, the telecommunications operator that operates under the Yoigo, Pepephone, MASMOVIL, Lebara, Lycamobile, and Llamaya brands, has just become a B Corp.

This certification has been granted by B Lab and assesses Grupo MASMOVIL's compliance with the highest standards in terms of social and environmental performance, transparency and business responsibility.

In this way, Grupo MASMOVIL has joined B Corporations, companies that lead a global movement that generate a positive impact through companies. This growing community is reinventing business and working to build a more inclusive and sustainable economy for all people and the planet.

In its certification process, Grupo MASMOVIL has been advised by Transcendent, a consultant specialized in business impact and active ESG management.

Measure five key areas

The B Corp Certification measures management performance across the company and covers five key impact areas: Governance, Workers, Community, Environment and Customers.

The certification process is rigorous, more than 80 points must be obtained and evidence of socially and environmentally responsible practices must be provided, including energy supply, water and waste use, workers' compensation, diversity and corporate transparency.

To complete the certification, the company must legally incorporate its commitment to the social purpose into its company's statutes.

Europe's first telecommunications operator B Corp

Grupo MASMOVIL has thus become the first telecommunications operator in Europe to be certified with the B Corp seal and is now part of a movement of more than 3,800 companies worldwide that have become B Corp.

The B Corp community reflects the European economy with companies from multiple industries and sizes. These include well-known brands such as Danone, Patagonia, Alpro, CAPSA, The Body Shop, Holaluz, Ecoalf, WeTransfer or Triodos Bank, among others.

“It's been two years of work and preparation to get here. We are very happy with what Grupo MASMOVIL has achieved and to continue working for many other companies in their B Corp. certification process. Nowadays, part of our business is to accompany companies in their initial analysis process and preparation for B Corp certification, and 75% of our team is a B multiplier,” explained Angel Pérez Agenjo, managing partner of Transcendent.

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Madrid, July 8, 2021.- Nearly 70% of companies have a defined purpose. 84% of them are written and shared with employees and almost 9 out of 10 believe that they add value to the business and contribute to improving the company's profitability.

This is the main conclusion of the First Barometer on Business Purpose in Spain, prepared by APD and Transcendent, which analyzes the results of a survey conducted with almost 300 managers to understand the trends and challenges in the definition, activation, measurement and understanding of the value that the Purpose generates for companies and for their interest groups. Companies from more than 20 sectors participated in the survey.

Although Purpose is already very present in companies, according to this study, the degree of knowledge is still confusing. For 39% of respondents, Purpose is confused with the concepts of vision and mission.

What there isn't much doubt about is the perception of Purpose as an element of value for the company. 76% of respondents say that in their companies the Purpose is perceived as an element that impacts the business and that contributes to improving its profitability.

However, the perception that it facilitates access to finance is still in its infancy. Just 16% of respondents link Purpose to better funding.

“There is still work to be done for the Purpose to permeate all levels of the organization. There is a knowledge gap between Managers and Middle Managers compared to the category Other employees, the latter being those with the lowest knowledge of the definition,” explains Angel Pérez Agenjo, managing partner of Transcendent. 73% of managers say that they know it precisely, while that percentage drops to 52% in the case of employees.

One in four would change jobs even if they assumed a salary reduction

Nearly 8 out of 10 executives say they prefer to work in a Purposeful company. Of these, 52% state that they would change jobs to a Purposeful company on equal terms, and more than a quarter (27%) would be willing to change even assuming a salary reduction.

The attraction and retention of talent is becoming one of the aspects that is most driving the incorporation and activation of Purpose in companies.

The reinforcement of a solid company culture (91%) and the construction of a unique and differentiated brand (67%) are two issues that, according to this study, are also favored by the activation of the Purpose.

The challenge is measurement

84% of companies that have a Purpose have it written, shared and measured, while 16% of them do not have it formalized.

Of the 84% who do have it written, more than half (63%) state that their company's Purpose is written and known to employees and 49% that it is known to external agents.

However, there is still a long way to go in how the Purpose is communicated internally, integrated into decision-making and measured. In fact, just over a third of the respondents (34%) say that their company has defined indicators to measure it. Of these, half are companies with more than 1,000 employees.

The CEO and the Management Committee, responsible for the Purpose

Regarding the perception that managers have about who should lead the management of the Purpose, the conclusion is overwhelming. Managers are responsible for integrating the Purpose in Spanish companies. 72% of respondents highlight that, in their company, Management is responsible for integrating the Purpose into the company, which indicates that it is a strategic element.

All professional categories, regardless of the size of the company, agree that those responsible for integrating the Purpose into the company are the company's Management and Management Team.

This question shows how in Spanish companies the Purpose is perceived as a strategic and transversal element for the entire company, so that the responsibility for its integration lies with the Senior Managers and not with other departments.

This transversality is also demonstrated by the fact that 83% of the respondents have selected more than one department responsible for the definition and implementation of the Purpose in the company. According to 65% of the respondents, within the Management Committee of their company, achieving the Purpose is a strategic and fundamental objective for all and is taken into account in decision-making.

Even so, linking the managers' bonus to the degree of achievement of the Purpose is not yet a priority, since only 21% of Spanish companies say they have incorporated it.

Main Barriers to Purpose

58% say that, in their company, the greatest difficulty in activating the Purpose is the urgency of other internal matters. It does not seem, therefore, that the main difficulty in defining and activating the Purpose is the perception that the Purpose is not something strategic, necessary and transversal for the company, but rather a matter of prioritizing urgent everyday issues.

Almost half (45%) say that the biggest difficulty lies in the lack of standardized indicators. A challenge, without a doubt, to be solved. And only 17% believe that it is due to a lack of vision.

COVID has given relevance to Purpose for one in two

The relevance of the Purpose has increased significantly due to the COVID crisis and the planet's environmental problems. 53% of respondents agree with this statement because, according to Pérez Agenjo, “in this uncertain and changing scenario, companies have the opportunity to transform and Purpose prevails as the strategic element that allows companies to achieve their maximum potential”.

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Madrid, 21 May 2021.- Transcendent, the Spanish consulting firm specializing in ESG management and business impact, and APD (Association for Management Progress) have organized a meeting to analyze purposeful leadership in Spanish companies, as well as opportunities and trends in Europe.

The meeting served as a preliminary presentation to the results of the First Business Purpose Barometer in Spain, which both organizations are carrying out. This Barometer, carried out by APD and Transcendent, aims to evaluate the degree of activation of purpose in companies as a lever to improve their results.

During the meeting, experts raised the need for companies to incorporate and activate the purpose. For Judith Stroehle, senior researcher at the Saïd Business School in Oxford and director of the Rethinking Performance Initiative Program at this university, “the purpose facilitates access to investment. The money is going that way. Institutional investors are betting on purposeful companies. It's not only desirable, but something that any company has to do and do now because it's an opportunity for business improvement.”

But it doesn't just facilitate access to better funding. “Involving and sharing the purpose with employees and the community is something that generates engagement. And that is what can determine which company will succeed and which will not,” explained Daniel Truran, CEO of ebbf - ethical business building the future, ( ebbf.org ) and B Corp Ambassador at B Lab Europe.

Experts have pointed out that purposeful companies sell more than those that don't have it or don't manage it. “B Corp companies, for example, sell three times more than their competing companies in the same sector,” according to Truran.

Finally, according to Ángel Pérez Agenjo, managing partner of Transcendent, “the purpose does not make companies less ambitious or less professional, but rather it enriches them, it makes them better from the point of view of leadership and management of the management committee”.

Purpose as a lever for business

The purpose is not an innovation. It's not just a marketing claim. It's not a phrase or a slogan. It's a matter of common sense and business. As experts have said today, few companies emerged just to make money. But activating purpose and measuring it isn't that simple. Be part of each company's business impact journey.

Any company is called to activate the purpose. According to experts, although theoretically for small and medium-sized businesses and for family businesses it should be a more accessible objective a priori, the truth is that sometimes they are busy growing and believe that they don't have time for this. According to Stroehle, “large companies are feeling pressure from the market, from investors, from systemic challenges, etc., and they are moving intensely and at full speed on this issue.”

The creation of a legal figure that identifies companies with a certain type of governance, with purpose and that manages their ESG assets is something that is already happening in some countries, such as the United States. A trend that we are also going to move towards in Spain, as these experts agree.

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Madrid, April 6, 2021.- Transcendent, the Spanish consulting firm specializing in business impact, has just become a B Corp. This certification has been granted by B Lab and assesses Transcendent's compliance with the highest standards in terms of social and environmental performance, transparency and business responsibility.

B Corporations lead a global movement of people who make a positive impact through companies. This growing community of companies are reinventing business and working to build a more inclusive and sustainable economy for all people and the planet.

Measure five key areas

The B Corp Certification measures management performance across the company and covers five key impact areas: Governance, Workers, Community, Environment and Customers.

The certification process is rigorous, more than 80 points must be obtained and evidence of socially and environmentally responsible practices must be provided, including energy supply, water and waste use, workers' compensation, diversity and corporate transparency.

To complete the certification, the company must legally incorporate its commitment to the social purpose into its company's statutes.

Only 3,800 companies in the world have managed to become B Corp

Transcendent becomes part of a movement of more than 3,800 companies worldwide that have become B Corp. The B Corp community reflects the European economy with companies from multiple industries and sizes. These include well-known brands such as Danone, Patagonia, Alpro, CAPSA, The Body Shop, Holaluz, Ecoalf, WeTransfer or Triodos Bank, among others.

For Angel Pérez Agenjo, founder and managing partner of Transcendent, “before we had a name for our consulting firm 4 years ago, we already knew that Transcendent had to be a B Corp. company. We were part of the first group of multipliers B in Spain in 2018. Today, 75% of our team is multiplier B. We have introduced the B Corp movement to more than 80 companies. The strength of B Corp today is undeniable. It has agreements with the United Nations Global Compact by incorporating the SDGs into its evaluation, it has recently made public its agreement with GRI and there are more and more corporations showing their interest in certification. As of today we are a B Corp. company. The trip here, in and of itself, has been worth it, and a lot.”

“We are thrilled to welcome Transcendent to the B Corp. community. This community works to reduce inequality, respect and regenerate the environment, strengthen communities and create high-quality jobs with dignity and purpose. Transcendent is a new member of the B Corp community, demonstrating by example how these results can be achieved,” explains Pablo Sánchez, executive director of B Lab Spain.

Madrid, December 10, 2020.- Transcendent, the Spanish consulting firm specializing in Corporate Social Impact, has incorporated María Herrero as a partner in the company.

After his time at JP Morgan in London and the European Investment Bank, he has been part of numerous organizations and has led projects in the social field. She has a degree in Economic Sciences from CUNEF and has a postgraduate degree in Leadership and Innovation in Non-Profit Entities from ESADE, and a Program in Civil Society from Harvard University.

She is currently a member of the Board of Directors and Director of Institutional Relations of Spain NAB (National Advisory Board on Impact Investment), the National Advisory Council for Impact Investment, which represents our country before the Global Steering Group for Impact Investment — GSG.

She is also president of the Advisory Board and member of the Board of Trustees of the Exit Foundation, dedicated to training and employment for young people at risk of social exclusion; member of the Board of Trustees of the Jaime Garralda Foundation, dedicated to the social integration of the most needy people; a founding member of the Orellana Circle, an organization formed by professional women who, through entrepreneurship, vocation and commitment, share their achievements so that other women can achieve their professional dreams. He is also a member of the Advisory Board of the Social Action for Music Foundation to promote music learning in children between 5 and 16 years old at risk of social exclusion.

As a partner of Transcendent, María Herrero will promote the activity of the consulting firm, which is in a phase of full expansion, especially through the development of actions in the area of measurement, management and impact reporting. To this end, it will contribute to the awareness and dissemination of a new Impact Economy model and will lead new projects in which impact becomes a strategic tool that optimizes the value of the company in the long term.

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Madrid, 26 November 2020- Transcendent, a consulting firm specialising in corporate social impact, has organised a meeting with Cristina Ruiz, executive director of Minsait, an Indra company; Enrique Ordieres, president of Cinfa; and Meinrad Spenger, CEO of the MasMovil Group, to discuss Leadership and Purpose, within the framework of the APD International Congress of Executives that is being held these days.

The three executives agreed that purpose is more than ever a strategic issue in their organisations. Something that forms part of the future plans and daily management of their companies.  In this regard, Minsait's executive director explained that there is a Sustainability Committee on Indra's Board and that there is a Sustainability Master Plan for 2020-2023, which aims to strengthen the company's leadership in this area. ‘Technology is a lever that, if used for good, can generate a very positive impact on society’, explained Cristina Ruiz.  

Purpose as a long-term strategy

A commitment at the highest level and a long-term priority that Meinrad Spenger, CEO of the MasMovil Group, has also put forward. He acknowledged that dealing with the pandemic and the changes in the production and teleworking model that it has generated ‘has been a challenge’ from a technological point of view since, as he explained, ‘from one day to the next, network traffic doubled and our more than 3,000 call centre employees began to provide service from home’.  

But the company's long-term commitment to continue making its goal of customer satisfaction a reality led it to bring forward its network investments in order to respond quickly to this sharp increase in demand, and continues to drive it in its BCorp certification process, as it is the first telco in Europe to sign a letter of commitment to achieve this global certification for companies that generate a positive impact on society and the environment.

Generates positive results

Something similar to what has happened to Cinfa, whose demand for some medicines increased exponentially in just a few days due to the health crisis, which forced them to optimise the organisation of the entire supply chain to the maximum, prioritising essential medicines, and to reschedule shifts in the workforce to meet this demand, although they were working at full capacity at the time. As its president, Enrique Ordieres, said, ‘it has been complex, but, according to a study, we have managed to be valued by pharmacists as the company in the sector that has responded best to demand’. For Ordieres, this is largely due to the pride of belonging of the employees who have the company's purpose in their day-to-day work and who have given the best of themselves to make it all work.  

And the fact is that the purpose generates an improvement in the long-term results of the companies. This is something that all three executives agreed on. A purpose that must be transversal, coherent, authentic, based on example and on values such as honesty, transparency, motivation and the creation of enthusiasm, especially in the current situation.  

From the institutional to the business level

And the fact is that "at the moment we are living in, leadership with purpose has never been more important", commented Ana Ruiz, co-founder and partner of Transcendent. "It is a matter of putting the long term before the short term. And that's not something that everyone dares to do. But it is something that in the long run has been proven to have an impact on the company and is profitable".    

And this is where the link between purpose and leadership lies. "Because a good leader is essential to ensure that the purpose does not remain at a purely institutional level but becomes part of the heart of a company, in the day-to-day lives of its managers and employees. This leader must understand the opportunity to ‘professionalise’ this purpose and to act with conviction and courage to implement it in the company. And as part of this professionalisation, measurement is key", explained Ana Ruiz.  

Along these lines, Angel Pérez Agenjo, founder and leading partner of Transcendent, closed the debate by assuring that "ethical behaviour is always profitable, but never before has it been so important, nor so socially visible, nor so strategic from a business point of view’."

Madrid, November 13, 2020.- The meeting between José María Álvarez-Pallete, executive president of Telefónica, and Gonzalo Gortázar, CEO of CaixaBank, with Sir Ronald Cohen, president of Global Steering Group for Impact Investment (GSG), which promotes a new impact economy, at a table moderated by María Herrero, partner of Transcendent, served to discuss the need to redesign a new capitalism, which pivots around social impact.

The debate, which took place within the framework of the VII Ship2B Impact Forum, demonstrated that it is necessary to redefine capitalism because the system focused solely on maximizing shareholder benefit, which has lasted until today, is broken. During the debate, attention was drawn to the strategic importance of impact, which represents an opportunity and a competitive advantage that improves the income statement of companies due to its direct impact on financing and on their economic and reputational costs. In this way, it not only maximizes the positive impact but also limits the negative impact on the lives of people and the planet's resources.

During their speeches, everyone agreed that “the moment of impact has come” and that this transformation towards capitalism 2.0, based on the company's social purpose and social impact, is not merely recommended, but is already essential. In the same way, they pointed to the need for CEOs and top management of companies to lead this transformation and land it in the strategic plan, thus reaching all layers of the company.

In fact, in companies such as Telefónica or CaixaBank, it is something they are already working on, as explained by their top managers. With bonuses to its managers linked to achieving sustainability and social impact variables, promoting impact investment and also funding for social entrepreneurs, mobilizing assets, connecting millions of lives through cleaner and less polluting fiber optic networks and, above all, transmitting to the entire organization the need to generate, measure and manage the impact on its operations, products and services.

A process of organizational transformation and a transversal mentality that, in addition, has been accelerated by the coronavirus pandemic, which has placed people more than ever at the center of financial and business decisions.

Ahead are major challenges, such as measuring and managing the impact on specific KPIs because “what is not measured cannot be managed”, they said. It's the era of impact transparency.

For this reason, and according to María Herrero, partner of Transcendent, it is necessary to “integrate the chip of impact and social purpose into the business model itself and adopt business models that include a positive impact on its products and services, so that the more successful the company is in its sales, the more impact it has”.

Sir Ronald Cohen recalled during the talk what he reflects in his new book Impact Driving Real Change: “This is the impact revolution and each of us has a role as consumers, employees, savers, employers, investors... We are all and must be part of a new 2.0 capitalism of growth and shared prosperity where no one is left behind”.

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Madrid, October 13, 2020.- Transcendent, the Spanish consulting firm specialized in Corporate Social Impact, together with its strategic partner, The Impact Management Project (IMP https://impactmanagementproject.com/), have been chosen to announce in Spain a common initiative that has just been launched by the five major international organizations that are world leaders in sustainability reporting systems. This initiative lays the foundations for what can become a standard framework among all of them for corporate reporting on corporate sustainability.

The big five, CDP, Climate Disclosure Standards Board (CDSB), Global Reporting Initiative (GRI), International Integrated Reporting Council (IIRC) and Sustainability Accounting Standards Board (SASB) guide the vast majority of quantitative and qualitative sustainability reports today, and provide the integrated reporting framework that connects sustainability reporting with financial or other reporting.

First steps toward integrated corporate reporting

Through this joint statement, these institutions provide a shared vision of the elements necessary for comprehensive corporate reporting and explain how their frameworks and standards complement financial accounting regulations, The GAAP (Generally Accepted Accounting Principles), and provide the natural starting point for advancing in this field.

The growing demand for relevant information on sustainability and the impact that companies generate on society, the economy and the planet's natural resources, on the part of corporate beneficiaries (stakeholders), particularly responsible investors, consumers, regulators and governments, requires a common framework and regulations for companies.

The proliferation of initiatives on different and complex sustainability reports is seriously burdening companies, diverting their attention from the activities necessary to achieve the energy transition and the generation of positive social impact. In fact, there are already nearly 400 reporting initiatives in 64 countries, making them difficult to compare and study.

Sensitized to the need to respond to this reality, the Impact Management Project (IMP), the World Economic Forum And the consultant Deloitte, have promoted this initiative, facilitating the meeting between these leading entities in the sector and expressly supporting the first conclusions of the sector.

In addition to all this, there are three other milestones that anticipate what the decade we have just begun will be like and that demonstrate that we are facing a new, more conscious and more responsible capitalism: The launch of European Sustainable Investment Plan which will make the new European Green Deal feasible; the letter from Larry Fink, CEO of BlackRock, the world's leading asset manager, and a new report on global risks from the World Economic Forum.

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Madrid, July 21, 2020.- Transcendent, the Spanish consulting firm specialized in Corporate Social Impact, has become a reference partner of the WBA (World Benchmarking Alliance) in our country. This international organization based in the Netherlands works to create an ecosystem that encourages and accelerates the efforts of companies to achieve the 17 Sustainable Development Goals (SDGs) that the United Nations defined in 2015.

The World Benchmarking Alliance, created among others by the United Nations Foundation, has more than 150 members, including private companies, international and civil society organizations such as UNICEF, ABN-Amro, Oxfam, Thompson Reuters, Aviva, ING, WWF and Cambridge University, among others. It should be noted that WBA is supported by the Dutch, British and German governments.

Climate change, human rights, digital inclusion, gender equality, social transformation and sustainable agriculture are the core axes of the WBA's actions, which, globally and systematically, analyzes to promote the implementation of all kinds of measures to advance the fulfillment of the SDGs set by the United Nations.

“We are very pleased to welcome Transcendent to our club and look forward to collaborating with them in our mission to create a movement that encourages business impact -particularly with the 21 Spanish companies that make up SDG2000- working for a sustainable future for all”, said Paulina Murphy, Engagement Director of the World Benchmarking Alliance.

In this regard, the inclusion of Transcendent in this alliance represents for the Spanish consultancy a boost to its management and its focus of action, which revolves around accelerating corporate social impact, helping Spanish companies to incorporate both social and environmental impacts at the center of their activities.

“At Transcendent, we work every day to incorporate social and environmental impact at the core of our clients' business. Joining the WBA alliance is a natural step for us, as we want to contribute to shaping the private sector so that companies move towards achieving the Sustainable Development Goals, just as the WBA has been doing until now. We believe that measurement and comparative analysis are key to fostering business impact, and the one made by the WBA is ahead in this long-distance race to make this a reality.”, explained Angel Pérez Agenjo, founder and Leading Partner of Transcendent.

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