The Impact Observatoryan initiative by Transcendent and Ontier to boost the impact and sustainability as a competitive advantage for companies, has organised the first edition of the Impact Week. A week of meetings that will take place from 12 to 14 June and will be attended by Sir Ronald Cohenfather of Impact Investment and chairman of the GSG (Global Steering Group for Impact Investment).
A meeting for leaders and representatives of the Spanish business and financial sector.
Cohen will be the protagonist of a series of private meetings with leaders and representatives of the highest level of the business and financial sector in our country, such as theCEOE, the Círculo de Empresarios or the Instituto de Empresa Familia (IEF).among others.
Cohen's presence in Spain will open up the debate on the great challenges we face and will convey to leaders and businessmen the the need to drive a new impact economy based on an economic model that optimises benefits and social and environmental impact at the same time.
The meetings will also serve to share the vision on the key role that business plays in this new stream of impact thinking, delving into the challenges and opportunities of new ESG regulation, measurement, non-financial accounting or the opportunity of sustainable and impact finance for business.
Sir Ronald CohenThe President of the world's leading global impact organisation the Global Steering Group for Impact Investment (GSG)will address the major challenges facing us today, from the devastating effects of climate change, forced migration and the refugee crisis around the world, to the global inflationary crisis and the war in Ukraine.
Ronald Cohen to address the importance of a new impact economy
Cohen will discuss all of this under the umbrella of an urgently needed new impact economy, the opportunities of ESG financing and the key role of business in generating sustainable growth. These are complex times where we need strong leaders to lead the way to change.
Sir Ronald Cohen is also Chairman of the Portland Trust, Founder of Apax partners and Bridges Fund Management, pioneering venture capital managers, advisor to heads of government in Europe, the US and Latin America and Father of impact and social investing.
The Impact ObservatoryCohen, the facilitator of these private meetings with Cohen, aims to drive impact in companies, in line with its objective of accompanying them on the path to sustainability by making impact a tool for innovation and business opportunity.
On 19 September next, the meeting ".Monetisation and management of the impact for transparency"organised by Spain NAB.
At the meeting, which will be broadcast on streaming, Acciona, Telefónica and Repsol will present their experience with the Impact Weighted Account Initiative Harvard and SDG Impact of UNDP.
The meeting will discuss how two of the most widely used impact methodologies, which are used by 2,000 organisations worldwide, help to drive impact and transparency:
What are the objectives of the meeting on monetisation and impact management?
The objective of the meeting is part of the strategy to develop the impact economy in Spain by joining forces and generating spaces for the exchange of knowledge, experiences and collaboration.
The impact economy requires, among other changes, that the traditional company begins its transition from the profitability-risk binomial to the profitability-risk-impact trinomial in economic-financial decision-making. In this transition to impact, the valuation and monetisation of social and environmental effects, whether positive or negative, will be a decisive aspect of business success.
To reinforce this line of work, SpainNAB has been working on a taskforce of companies that aims to promote the standardisation of Impact Measurement and Management to boost the impact investment market.
Based on defining, measuring, communicating and managing impact, the work has led to progress towards a new system of financial accounting that monetises both the positive and negative impacts of companies.
The B Corp movement, of which Transcendent is a part, is consolidating in Spain by incorporating 63% more companies than in 2020.
Comprised of companies that meet the highest standards of social and environmental performance, public transparency and legal accountability, the B Corp movement continues to grow. In 2021, the increase was 63% compared to 2020..
Specifically, 31 new companies have joined the B Corp community in Spain and a total of 110 companies now make up the BCorp community in our country.
These companies grow on average by 30% annually.The European Commission's report, based on data from a sample of 700 European companies belonging to this business community, is based on a sample of 700 European companies.
The movement has also grown in other countries. In 2021, 947 companies worldwide were BCorp certified in 2021, 28% more than in 2020.
In total, the global B Corp community closes 2021 with 4,400 companies from 153 industries and 77 countries worldwide. All of them add up to a turnover of more than 125 billion euros on an international scaleof which more than 5 billion from Spanish B Corpsaccording to the annual report 2021 which has just published BLab Spain.
Companies more committed to the environment and social development
B Corp companies are leaders in implementing more environmentally and socially friendly practices in their businesses.
In terms of environmentthe 23% of the B Corps have reduced emissions and 23% have partially or fully offset their emissions by 2021.
In addition, over the past year, they have managed to eliminate or divert nearly 3 million metric tons of waste. In the same vein, the B Corps' 77%s use renewable energy, the 70%s engage in water conservation practices and the 56%s monitor and record their water consumption.
In terms of positive social and employment impact73% of the companies in the movement include women in management positions and 45% have women in middle management positions, thus promoting equality. In addition, more than 66% of these companies are committed to inclusion by hiring people from vulnerable groups, about 90% offer additional financial benefits to their employees and about 70% of them offer paid time off to all or part of their professionals.
2022, the year of purpose-driven companies
As the study states "2022 ESG Trends to Watch"In the new year, sustainability will become even more important, especially ESG trends (ESG Trends 2022) driven by MSCI.Environmental, social and corporate governance, -(Environmental, Social and Corporate Governance). In recent years, such trends are not only being mainstreamed by companies in multiple sectors, but have also attracted the attention of investors and legislative bodies.
In addition, according to the First Barometer of Business Purpose in SpainThe APD y TranscendentAlmost 70% of companies have a defined Purpose. 84% of them have it written down and shared with employees and almost 9 out of 10 believe that it brings value to the business and contributes to improving the company's profitability.
New legal form for purpose-driven companies
In Spain, B Lab Spain, organisations and prominent Spanish personalities are calling for the creation of a new legal form ("Sociedades de Beneficio e Interés Común - SBIC") that recognises purpose-driven companies with the aim of driving the transition towards an inclusive, regenerative and sustainable economy in Spain.
Moreover, in the future, companies will increasingly measure the environmental and social impact of their activities. Already today, many companies are assessing their impacts through impact measurement and management tools. As Pablo Sánchez, executive director of B Lab Spain explains, "more than 190,000 companies around the world already use the B Impact Assessment, a free service that B Lab makes available to all companies to measure and manage their impact on society and the planet and that helps them make decisions to improve their environmental and social indicators. And the future trend we see is that this figure will continue to grow.
The purpose is a strategic lever The value creation potential and profitability is well established. Companies with a defined and integrated purpose, whose approach is to focus on improving their financial performance and the common good, achieve a better performancea highest market valuation and create more shareholder value compared to the rest.
This need to incorporate ESG (social, environmental and governance) aspects is a trend that has no way back and will force companies to transform themselves by making impact a management tool.
"Purpose increasingly demands the professionalisation of business leaders".
A new committed leadership
The activation of purpose and the management of social, environmental and governance impacts is becoming an element that demands a further professionalisation to business leaders.
To address this issue, José Antonio LabarraCEO of ROADISa leading company in the development, operation and management of transport infrastructure assets, recently met with Ángel Pérez AgenjoTranscendent's managing partner, at a meeting organised by APD on the Business Purpose.
Purpose as a management tool and a lever for value creation
The five benefits of purpose in business
There are a number of competitive advantages that differentiate a company that works and activates the Purpose from others. These include:
Increases profitability and market value. Purposeful companies improve their market value faster than others. However, purpose has a positive impact that goes far beyond a company's bottom line as it generates many other benefits as well.
Improves reputation and legitimacy to operate: By publicly stating its purpose, a company demonstrates its commitment and the benefits it brings to its stakeholders and society as a whole, and this clearly enhances its reputation. Companies that define and activate their purpose therefore significantly reduce the risk of corporate scandal eroding their licence to operate.
It allows you to manage and retain talent: Business purpose is a differentiating element that can be beneficial for all three aspects since, from a Human Resources management point of view, it constitutes a real strategy for the management of human resources. employer branding.
Customer loyalty: It emphasises the unique and distinctive contribution that the company makes to the big issues we face. For that reason, it has the potential to generate stronger relationships with its customers, who tend to be more attracted to companies that convey authenticity and that they consider to be worthy of their trust. when a company sets and activates its Purpose it arouses interest and attraction from its customers.
Investor interest is increasing: Investors are increasingly integrating ESG criteria into their decisions and are interested in the social and environmental performance of companies.
In the case of ROADIS, its Purpose is in the value creation in the communities in which it operates through profitable investments in major infrastructure projects. To do this, it relies on 4 main attributes: ethics, prosperity, innovation and security".
The transformation process towards sustainability
In 2019, the company headed by Labarra decided to take a step forward and adopt the sustainability as part of its business model and, above all, as a lever for value creation in order to become an active part of the transition towards a more responsible and sustainable economic model.
According to its CEO "we defined a Cross-cutting Master Sustainability Plan to all areas of the company by offering a framework for action that would allow us to have a solid position in the business context, as well as to become an active part of the transition to a more responsible and sustainable economic model".
For his part, Pérez Agenjo emphasises that "the market rewards the purpose-driven companies and punishes those that do not. That is already part of the new business paradigm. And therefore, for the 43% of the companies sustainability policies and management of ESG parameters have become a urgent issue".
Measuring impact, a key tool to avoid the "Impactwashing
Pérez Agenjo assures that establish an impact measurement system In the company, setting indicators and putting them at the heart of corporate strategy is one of the first steps to combat the already well-known Impactwashing.
For the CEO of ROADIS quantifying and measuring impacts is essential to understand and analyse the impact generated on both society and the environment. Quantification is not easy, but it is necessary because what cannot be measured cannot be improved.
"Quantifying and measuring impacts is essential to understand and analyse the impact generated".
To this end, they have set up a system to measure the company's impact, and they have set indicators with the aim of putting them at the heart of corporate strategy.
"At ROADIS we have developed a methodology for measuring economic, social and environmental impact of our assets in order to identify the medium and long-term effects of our assets on users, employees, communities, the environment, suppliers, institutions and any other relevant stakeholders in the environments in which we operate. It is a valuable tool we use to identify and quantify impacts from a broader perspective. A methodology based on the best practices of the Impact Management Project (IMP)," Labarra concludes.
After two and a half years of work, SpainNAB, the Impact Investment Advisory Board, has been formed as an Association with the incorporation of 28 organisations and independents, including the sustainability and business impact consultancy Transcendent..
SpainNABThe Advisory Council for Impact Investment in Spain has been formed as an Association with the incorporation of 28 independent organisations and individuals to continue to drive the impact investment market in our country.
Among the organisations that have joined are Transcendentrepresented by Ana Ruizsaid the consultancy's partner. "We are very happy to become part of SpainNAB to build an ecosystem committed to impact investment in our country along with 28 other companies, organisations and leaders in the Impact Economy. At Transcendent we want to contribute to promoting and consolidating an economy that generates positive social and environmental impact", says Ana Ruiz.
These additions join a strategic project for the country that emerged in June 2019 with the accession of Spain to the Global Steering Group for Impact Investment (GSG). Thus, in the current context of recovery and transition towards a fairer, more sustainable and equitable economy,
SpainNAB is consolidating its position as the leading organisation in Spain for the promotion of impact investment, a necessary tool to achieve a capitalism in which positive and measurable social and environmental impact is integrated into all economic and financial decisions.
Important developments since 2019
SpainNAB was born as a 16-person advisory board in June 2019 with the accession of Spain to the GSG. This council is today constituted as the SpainNAB Association and incorporates 12 new individuals and organisations, bringing the total to 28.
The GSG is an initiative that emerged in 2013 in the framework of the British presidency of the G8. It is chaired by the father of impact investing, Sir Ronald Cohenis the main global platform to promote this type of investment, of which 34 countries and the European Union are already members.
The achievements of more than two years of work can be measured in figures. Spain's accession to the GSG was a catalyst for the growth of impact investment in our country, reaching a figure of 2,378 million euros of managed capital in 2020, which represents a growth of 26% compared to the previous year.
The market has not only grown in numbers, but also in the number and nature of actors. An ambitious Action Plan, networking and the generation of cutting-edge knowledge have been fundamental parts of SpainNAB's success to date.
A new era for impact investment
The formation of SpainNAB comes at a pivotal moment for impact investing. In the midst of an unprecedented climate and social crisis, the G7 once again tasked the GSG with coordinating a working group, the Impact Taskforce, to draw up a roadmap to accelerate the volume and effectiveness of private capital seeking to have a positive social and environmental impact.
SpainNAB has participated in the work of this group and has been recognised with the inclusion of two pioneer Spanish cases in the recommendations report of the G7.
"We must take advantage of the momentum The current situation is a great opportunity to take impact investment to the next level, hand in hand with the entire ecosystem and with a clear role for the public sector as a catalyst for the market, as has happened in European countries such as France, Portugal, Italy and Germany," explains Juan Bernal, president of SpainNAB.
Businesses are key players in today's society. Many of the world's great advances have come from the private sector. Michael Porter, in his study on shared value, shows many examples of how business has driven social development.
The first large-scale programme to diagnose and treat HIV was set up by an Anglo-American company to protect its workers in South Africa, according to a new report. Mark R. Kramer y Marc W. Pfitzer in its article The shared value ecosystem published in the Harvard Business Review. MasterCard is another great example, having successfully implemented mobile banking, providing access to financial services to 200 million people worldwide. And the most recent case is the COVID vaccine, which has been developed and distributed thanks, in large part, to the efforts of the pharmaceutical industry.
At Transcendent we understand that companies areagents of change and that, those that manage to position themselves in the area between the business value and the value to societyare the ones that will achieve a competitive advantage.
Being an agent of change means playing a key role in the transformation of society, promoting sustainable economic, social and environmental growth. To this end, it is essential to to know the impacts that the company generates on society, to manage and measure them in order to maximise the positive ones and minimise the negative ones.
In order to understand, manage and measure impacts we need information. Information, metrics and data are the basis for all business decisions. It is unthinkable for a company to undertake an investment without first carrying out a financial analysis, or to launch a new product on the market without understanding the needs of consumers.
Most companies are intuitively aware of the impacts they have on the environment and society. However, there are still very few that are committed to quantifying them. However, before we begin to explore impact measurement, we need to understand what business impact is and how we understand it.
What is business impact?
Impact is seen from a value chain perspectiveIn this context, companies have a series of inputs that they transform, through activities, into outputs. These outputs are the "tangible" results of the business activity. For example, for an infrastructure company that builds roads, an example of an input would be the raw material used to build the road and the output would be the road.
These outputs generate "Outcomes" and, in the longer term, "Impacts". Outcomes are the specific changes that a company's products or services generate in the behaviour of its customers or users, and impacts are the attribution of fundamental changes, intended or unintended, that occur in organisations or communities over the long term.
Continuing with the example of the road construction company, the "outcome" would be to facilitate access to university for young people from a small town, who thanks to the road ("output"), can more easily reach university. The "impact" is positive, and could be a percentage increase in the rate of students with higher education in the area where the road operates.
Why measure business impact?
More and more stakeholders are demanding that companies have positive financial returns while at the same time generating a positive impact on society:
- The investors increasingly favour companies committed to sustainability (ESG investment, socially responsible investment, etc.).
- The regulatorsincluding the Spanish Administration and the European Union, require companies to publish non-financial information statements.
- The customers and the company prefer to consume from purpose-driven companies that are aligned with their beliefs and values.
- The employees prefer to work in socially responsible and environmentally friendly companies.
In this context, knowing and measuring business impact is an opportunity for companies to position themselves, differentiate themselves and value the positive effect generated in society in the eyes of investors, regulators, users, shareholders and other stakeholders.
Measuring business impact
Impacts are difficult to quantify and measure, so there is no global consensus on how to measure, evaluate and report them.
There is a wide range of methodologies for measuring and managing impact depending on where the focus is sought. Among others, GIIN, BLab, GRI, GSG, the OECD or the WBA. Several are part of Impact Management Project (IMP), we are a partner organisation, and they are also on the recently created Impact Management Platform.
At Transcendent we have developed a IMP-based impact measurement methodology which allows the quantification of impacts, both positive and negative, and their subsequent follow-up and monitoring.
Our experience measuring the impact of large companies is always very positive as managers acquire relevant information to make decisions with it. A trend that is growing all the time.
It seems, therefore, that impact measurement is the way forward. Because quantifying impacts enables companies to understand, manage and make decisions in line with the purpose of the business, so that they can be agent of positive change in society. Find out more about impact measurement at our blog!
Whether we like it or not, our company influences and contributes positively (or negatively) to a better world. Whether we like it or not, we may be singled out to join a club that we have not chosen to join for the justified or unjustified reason that our company is considered a leader and/or exemplary for others for various reasons, based on turnover or number of employees, perhaps because of the sector in which we operate or the community we serve, our type of product or customer base or perhaps because of the important influence of our brand...
However we do it, we companies leave our mark on the world. But which ones leave a footprint for a better world? And what is or how do we define a better world?
A better world is defined by the United Nations in a perhaps simplistic but undoubtedly accurate way, as one in which economic growth is sustainable, responsible and respectful of the planet, contributing to the improvement of people's lives and leaving no one behind.
This objective is set out in the well-known 17 Sustainable Development Goals contained in the United Nations 2030 Agenda, which came into being in 2015. At that time there were 15 years left, which were long for some and short for many, and which today, 9 years down the line, are overwhelmingly short for the great challenges of humanity reflected every day in the news that reach us: from a child dying on the beaches of our coasts, men and women freezing cold on the border of Poland and Belarus, women without the right to work, girls who cannot go to school or parents with their child on their shoulders crossing rivers where they risk their lives in the hope of a better future...
Only business can lead change
Suddenly, and exacerbated by the coronavirus pandemic, surveys show that business is perceived as the leader of change and therefore the hope for achieving these goals.
Neither governments nor NGOs have the resources to invest the 90 billion euros needed to achieve them. And let's be honest, it is not these that have the biggest impact on people and the planet. It is business.
Just as Covid arrived, in 2018 the WBA was created, a non-profit organisation inspired by the values of the United Nations. If society's hope lies in business, it is business that should become the engine of the change and transformation we need. And something had to be done. If they are the engine, where is the fuel to start it up and drive it to arrive in good shape and on time?
The World Benchmarking Alliance (WBA): The Race to the Top
This fuel is the WBA. The WBA is a foundation born in the Netherlands (a country par excellence pioneer and benchmark in sustainability and impact) with the support of the Dutch government and 20 global entities spread around the world willing and united around a mission: to drive the private sector's race towards the SDGs.
The ranking of the 2000 companies that lead the world
The first milestone was not an easy one: choosing the 2000 most influential companies in the world capable of contributing the most to the world's development. Millennium Development Goals, send a letter to their CEOs informing them that they were going to be part of a World Ranking that the whole world, consumers, investors, governments, ordinary citizens, would know the results through a big campaign in the media and social networks worldwide and ask for their collaboration in the process.
The second milestone, the result of an in-depth and rigorous study, was to identify the 7 indices or benchmarks, which respond to the 7 transformational elements that our system needs to be responsible and sustainable. The social transformation (human rights and gender) that affects the 2000 companies, and six other elements or transformations where companies can be rated in 1 or several, depending on the materiality of the impact generated by their business. These are: nature and biodiversity; urban or smart cities; agriculture and nutrition; energy and decarbonisation; digital inclusion and finance.
A third milestone remained, which was not going to be easier because it was the last one. Generating a roadmap that would lead the way by offering tools and support to companies to take action. The journey? Transforming and adjusting their business model to generate measurable and manageable economic, social and environmental value that contributes to one or more development objectives. In short, contributing with innovative solutions so that the generation of goods and services by companies would have a deeper meaning than just producing, selling and consuming them.
Benchmarking for a Better World
You don't choose to be a WBA company
These 2,000 companies were not asked if they wanted to be part of this ranking. So, to motivate them to collaborate and get involved, the WBA provided them with its methodologies, tools and roadmaps to achieve two goals: the 2030 Agenda and a carbon neutral economy. The incentive? To lead the top positions of the World Ranking and be perceived as the best company for a better world.
The 23 Spanish companies that lead the world
Well, of these 2000 companies, 23 are Spanish. The list is made up of Acciona, ACS, CaixaBank, Telefónica, Banco Santander, BBVA, El Corte Inglés, Mercadona, Inditex, Cepsa, Iberdrola, Nueva Pescanova, Indra, Naturgy, Ebro Foods, FCC, Ferrovial, Grupo Logística, Meliá, Renfe, Repsol, Siemens Gamesa and Urbaser.
The 23 Spanish companies in the WBA ranking
And all of a sudden, these 23 Spanish companies of different sizes, sectors and market capitalisation.... are now part of the club of companies that lead the world. And they lead the world because the WBA, today constituted as an alliance of more than 250 entities worldwide, has singled them out as the most influential, not to tell them what to do, but to accompany them along the way, offering light and being a guide on the exciting journey of achieving and contributing decisively to the Millennium Goals by creating a world that leaves no one behind.
2023: Publication date of the first World Rankings
The publication of the indices and the transformation effort of the 2000 companies will be made public in the second half of 2023. We have only months to go. Governments, suppliers, investors, employees, consumers and ordinary citizens will have the opportunity to see the World Ranking of the most sustainable companies committed to the common good.
To raise awareness of the WBA project, the Impact Forum - a benchmark event on impact in Spain led by the Foundation Ship2B - organised a session where together with Victoria Márquez-Mees, the WBA, a leading member of the WBA Board of Trustees, unveils the opportunity that the WBA represents for the 23 Spanish companies selected for the Ranking.
Our wish from Transcendent is that Spanish companies lead the first positions of the Ranking. Some companies such as Telefónica have achieved the first position in the Digital Inclusion ranking. As allies and partners of the WBA, we want the 23 Spanish companies to lead the WBA Ranking, thus demonstrating their commitment to sustainability and the SDGs and that many other companies, seeing their example, effort and success, follow their legacy.
Whether we like it or not, our company influences and contributes in a positive way to a better world... this is our purpose and our raison d'être at Transcendent. Help companies to transcend and leave their mark on the society they serve and why not? To lead the World Ranking of the companies most committed to people and the planet.
The VIII S2B Impact Forumthe leading congress on the impact economy, will be held between 24 and 26 November to discuss the real transformationThe transition from ideas to facts, the changes in models and the advantages and difficulties involved in putting them into practice.
The first day will focus on the companies and startups that are transforming. They will talk to entrepreneurs and business people who are driving impact and who are facing different challenges as they scale up.
This first day will feature speakers such as Saskia BruystenYunus Social Business co-founder and CEO, who will explain her experience of how the impact-driven model can be both profitable and scalable in a session with Maria Angeles Leonco-founder and CEO of the Open Value Foundation, a Oscar Pierrewith whom we will analyse the difficulties that can be encountered on the road to impact in a startup like Glovo.
Towards a new sustainable economic model
The second day of the Impact Forum, which will focus on the facilitators of transformationThe European Commission and the European Commission, which provide support to these companies and entrepreneurs, whether through acceleration, funding or regulation.
This session will be opened by Sir Ronald Cohenthe father of impact economics and chairman of Global Steering Group for Impact Investment (GSG). Cohen, who will analyse what needs to be done to transform companies and generate a new economic model based on sustainability.
In addition, the following will participate Filipe Almeida (NAB Portugal), Stéphanie Goujon (French Impact) and José Luis Ruiz de Munaín (SpainNAB) to analyse the role of the public sector in facilitating or even accelerating this process of economic innovation.
And since today more than ever a powerful narrative is vital to build a future with the conviction that it is worth working for, international leaders in constructive journalism such as Alfredo Casares (Institute for Constructive Journalism), Tina Rosenberg (The New York Times) and Ulrik Haagerup (Constructive Institute) will examine the role of journalism in this transformation.
Tim Jackson (Center for the Understanding of Sustainable Prosperity) will close the day with a discussion on the need for "Reshaping capitalism to drive real change". Capitalism has been the engine of our modern societies, it has brought innovation and wealth, but it has also led to excesses, such as inequalities and environmental damage. The question is, how can we put the economic engine and finance at the service of people and the planet?
Corporate impact strategies
The final day of the VIII Impact Forum Congress will bring together investors and CEOs of large companies to share ideas on the implementation of impact strategies and business model changes, while analysing the challenges of this integration, the involvement of management in enabling change and the role of investment in driving this transformation.
Speakers in this analysis will include such distinguished speakers as Cliff Priorof the Global Steering Group for Impact Investment (GSG), Bertrand Badréby Blue like an orange capital, Keimpe Keuningof LGT Capital Partners, Cristina Marsalfrom Sandman. Firoz LadakCEO of the Edmond de Rothschild Foundations, or Maria Peñaof ICEX.
All information on the Ship2B Impact Forum can be found on its website at websiteFind out more about business impact in the Transcendent blog!
His Majesty the King inaugurated the XXIV National Congress of Family Businesses organised by the Instituto de la Empresa Familiar (IEF) with the collaboration of the Asociación para el Desarrollo de la Empresa Familiar Navarra (Adefan) and the sponsorship of Banco Santander and KPMG, brings together in Pamplona around 500 family entrepreneurs from all over Spain, under the slogan "Working for a better society".
The opening ceremony of the Congress was also attended by the President of the Autonomous Community of Navarre, María Chivite, the Minister of Industry, Reyes Maroto, and the President of the Regional Government of Navarre, María Chivite. IEFMarc Puig, who in his speech highlighted the work carried out by family businesses during the pandemic, highlighted the commitment of these companies to spearheading the social and economic transformation that our country must undertake and showed pride in the work, perseverance and leadership that characterises the day-to-day work of Spanish family businesses.
Puig recalled that the slogan of the Congress, "We are working for a better society", sums up the nature of family businesses, which are characterised "by sharing a series of essential values: long-term vision, a desire for continuity through the generations, commitment to society and local roots".
The president of the IEF explained how family businesses work for a better society: leading the transformation effort required in the fight against climate change, working from the companies themselves for equality, non-discrimination and social cohesion, and creating quality employment. "We are well aware of the importance of employment for prosperity to reach everyone. We are going to make an effort to continue creating quality jobs and we ask that they allow us to do so, that they do not put us in worse conditions than those of our neighbouring countries with which we compete", he said.
The president of the IEF, Marc Puig, has advocated an alliance with the public authorities that will allow companies to grow and consolidate, while at the same time asking that no obstacles be placed in the way of this growth and that Spanish companies continue to enjoy the same conditions as those in other European countries. This is what he said in his closing speech at the 24th National Family Business Congress, which brought together nearly 500 family businesspeople from all over Spain for two days in Pamplona.
Social and environmental challenges
For Puig, the challenges facing the Spanish economy are the same as those facing family businesses: overcoming the pandemic and adapting to the demands of a new environment marked by digitalisation, respect for the environment and social commitment. To address these challenges, companies need, according to him, "greater productivity and to be able to compete on equal terms with companies in other countries". And on this point, growth is fundamental. It has been demonstrated, he said, that at a similar size compared to other European countries, "our companies are perfectly competitive. So let us make it easier for our companies to grow".
Sign up for the commitment to sustainability
As a preamble to the beginning of the Congress, the presidents of the Family Business Institute and the 18 associated Territorial Associations of Family Businesses signed an institutional declaration attesting to the commitment of Spanish family businesses to the best management practices that favour sustainability, which must be understood from three different and inseparable angles: business, social and environmental.
At the business level, the commitment assumed by family businesses through this institutional declaration consists of managing through long-term business and investment practices based on ethical criteria, which allow for sustainable growth and which take into consideration the interests of workers, customers, suppliers, shareholders, institutions, administrations and society as a whole.
The social commitment, for its part, includes the promotion of diversity, gender equality, social inclusion and the generation of stable and quality employment in line with the needs of the companies. Finally, family businesses are committed to managing themselves in an environmentally friendly way, adopting the necessary modifications in their processes to reduce CO2 emissions.
The impact revolution
The last day of the Congress featured the intervention of Paul Polmanformer CEO of Unilever and co-founder of Imagine, who explained to the audience that "we all have a responsibility for the footprint we leave on this world".
What kind of world do we want to live in? This is the question we face today.
María Herrero, partner at Transcendent, moderated the panel on the impact economy.
Capitalism has served us well over the last 200 years. Yet nations continue to be wracked by economic inequality, social conflict, natural disasters, the threat of climate change and the consequences of an unprecedented pandemic whose economic and health consequences are still unpredictable.
Governments cannot and do not have the financial resources to address the major social and environmental challenges we face and the negative impact of corporate production of goods and services. Nor can philanthropists and NGOs, helpful as they undoubtedly are, offer a viable and scalable solution. It is business and private capital, the drivers of innovation, change and transformation that have the capacity to direct their economic activity and capital flows towards social change that will generate greater economic prosperity and sustainable growth.
Thus, impact investment arises, which has a clear and measurable intention to generate a social and/or environmental impact as well as an economic return.
Under the risk-return-impact equation, impact investment seeks a triple return: economic, social and environmental. It is not philanthropy or non-refundable donations, but rather investments that seek a return on capital while contributing to the search for solutions to the great challenges facing humanity, such as hunger, illiteracy, health problems, lack of access to drinking water and electricity, gender inequality, unemployment, homelessness, migration and environmental destruction, among others. As Transcendent partner María Herrero explained, it is about making sense of our investments. Because "what is our money doing while we sleep", she asked the audience.
For Sir Ronald CohenThe President of the Global Steering Group for Impact InvestmentThis moment calls for a revolution. We must make impact the focus of our consciousness. Instead of relying on governments and philanthropy to bring about social improvement, we must introduce a third force to accelerate the pace of change: the private sector... this is the new impact economy, each and every one of us has a role to play in it".
The Impact Revolution with Sir Ronald Cohen, Chairman of the GSG
Ainoha Grandes (president of the SHIP2B Foundation), Teresa Guardans (co-founder of Oryx Impact), María Herrero (partner of Transcendent) and Alejandra Mitjans (director of Ashoka Spain).
Linking people to their companies
During the course of the session Gerardo Iracheta, president of Sigma Twohas presented a survey analysing the social image of the family business. The study includes a series of conclusions worth highlighting. For example, there is a strong link between people and their companies: 83% of citizens say that their company is very important in their lives; and more than 65% consider that in their company they can develop their talent and grow as a person.
62% of respondents believe that the work of business is helping to alleviate the crisis caused by the pandemic and 90% say that business has a role to play in rebuilding the economy. In this regard, 82% specifically state that their company took appropriate measures to ensure the safety of their employees.
The vast majority of respondents stated that they had no problems during their confinement with supplies from private companies (such as energy, internet, food, etc.) or with the payment of their salaries. On the other hand, the majority - between 58% and 75% depending on the case - stated that they had had problems with various public services (health centre, ERTES, Sepes, various formalities). 63.7% had problems collecting benefits.
In the assessment of performance during the pandemic, the government gets a pass mark (5.16 out of 10, failing in several age and voting intention segments); large companies get a pass mark (6.30, passing in all age and voting segments), while SMEs get a B (7.39, passing in all segments).
La Empresa Familiar begins its XXIV National Congress in Pamplona with a declaration in which it reaffirms its commitment to economic, social and environmental sustainability.
The XXIV National Congress of Family Businessesinaugurated by the King of Spain, Felipe VI, will be held in Pamplona on 24, 25 and 26 October. This year's meeting will focus on Sustainability in family businesses and the challenge of incorporating purpose and the transformation towards the new impact capitalism of this type of business.
The meeting, which returns to its traditional face-to-face format after last year's online edition, is an event organised by the Instituto de la Empresa Familiar (IEF) and is expected to be attended by more than 500 entrepreneurs from family businesses from all over Spain.
The congress, which has become one of the most important business forums in Spain, will also be attended by political personalities such as the President of the Government, Pedro Sánchez, whose final presence is still to be confirmed, and the leader of the opposition and president of the Partido Popular, Pablo Casado.
Numerous events will be held over the three days, with round tables, keynote presentations and interviews with company representatives from all over Spain.
The round table on "The impact revolution"will feature a videoconference with the participation by Sir Ronald CohenThe event will be addressed in person by María Herrero, a partner in the international benchmark of the impact economy. TranscendentAinhoa Grandes, president of the Foundation Ship2BTeresa Guardans, co-founder of Oryx Impactand Alejandra Mitjans, director of Ashoka Spain.
The meeting will also be attended by Paul Polmanformer CEO of Unilever, chairman of Imagine, and one of the world's leading figures in the impact economy.
This site uses cookies to improve your experience. By continuing to browse the site you are agreeing to our use of cookies. AdjustmentsAceptar
Privacy Overview
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
