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.
The World Benchmarking Alliancea panel dedicated to the 2000 most influential companies for a better world, 23 of which are Spanish, has closed the Impact Forum of this year
Victoria Márquez-Mees, member of the WBA Board of Trustees and board member of the European Bank for Reconstruction and Development (EBDR), and María Herrero, partner at Transcendenthave closed the Impact Forum 2021 which, as every year, organises Ship2BOnce again this year it was one of the benchmark events of the Impact Economy.
For the closing session of the event, both directors focused their speeches on the role of business in the Impact Economicsthrough the rankings compiled by the World Benchmarking Alliance of the United Nations (WBA).
These rankings include 7 drivers, from the social driver (in which all companies participate) to other more specific sectoral drivers such as Nature, Financial System, Agriculture and Food, Digital Inclusion, Energy and Climate and Urban.
These rankings include the 2000 companies that have been considered, according to Márquez-Mees, the most influential in their respective sectors around the world "either for their sales, or for their production chain, or for their footprint in a developing country, or for their impact on the supply chain...".
The 23 Spanish companies included in the Ranking
Of these 2000 companies that have been chosen in their different sectors, 23 are Spanish and the publication of the indices and the transformation efforts of these 2000 companies will be made public in 2023.
With less than ten years to go before we all reach the UN Sustainable Development Goals (SDGs)The question is, what role do companies want to play? Because business has become the engine of change and sustainability indices, including the WBA, are a lever to drive this transformation.
In 2023 the World Benchmarking Alliance make public the data of these 2000 companies, so that governments, suppliers, investors, employees, consumers and citizens can have access to the World Ranking of the most sustainable companies committed to the common good.
"Our wish is for Spanish companies to lead the ranking".said María Herrero who, together with Victoria Márquez-Mees, agreed on a call to action so that these 23 large Spanish companies accelerate to be at the forefront of this unprecedented race, but which will mark a before and after in the business model of leadership.
The World Benchmarking Alliancea panel dedicated to the 2000 most influential companies for a better world, 23 of which are Spanish, has closed the Impact Forum of this year
Victoria Márquez-Mees, member of the WBA Board of Trustees and board member of the European Bank for Reconstruction and Development (EBDR), and María Herrero, partner at Transcendenthave closed the Impact Forum 2021 which, as every year, organises Ship2BOnce again this year it was one of the benchmark events of the Impact Economy.
For the closing session of the event, both directors focused their speeches on the role of business in the Impact Economicsthrough the rankings compiled by the World Benchmarking Alliance of the United Nations (WBA).
These rankings include 7 drivers, from the social driver (in which all companies participate) to other more specific sectoral drivers such as Nature, Financial System, Agriculture and Food, Digital Inclusion, Energy and Climate and Urban.
These rankings include the 2000 companies that have been considered, according to Márquez-Mees, the most influential in their respective sectors around the world "either for their sales, or for their production chain, or for their footprint in a developing country, or for their impact on the supply chain...".
The 23 Spanish companies included in the Ranking
Of these 2000 companies that have been chosen in their different sectors, 23 are Spanish and the publication of the indices and the transformation efforts of these 2000 companies will be made public in 2023.
With less than ten years to go before we all reach the UN Sustainable Development Goals (SDGs)The question is, what role do companies want to play? Because business has become the engine of change and sustainability indices, including the WBA, are a lever to drive this transformation.
In 2023 the World Benchmarking Alliance make public the data of these 2000 companies, so that governments, suppliers, investors, employees, consumers and citizens can have access to the World Ranking of the most sustainable companies committed to the common good.
"Our wish is for Spanish companies to lead the ranking".said María Herrero who, together with Victoria Márquez-Mees, agreed on a call to action so that these 23 large Spanish companies accelerate to be at the forefront of this unprecedented race, but which will mark a before and after in the business model of leadership.
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).
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).
The second edition of Camino al Impacto, an event held by the Spanish Ministry of Foreign Affairs, will take place from 14 to 17 June. SpainNABthe National Advisory Council for Impact Investment. An appointment for the impact economy sector which, as in its first edition, aims to become a meeting point for the public, private and social sectors to work for a fair and sustainable reconstruction.
Organised by SpainNAB, the independent, cross-sectoral advisory body representing Spain in the GSG (Global Steering Group) for Impact Investment, the event is a benchmark for the impact economy sector in our country.
The second edition of Camino al Impacto, an event held by the Spanish Ministry of Foreign Affairs, will take place from 14 to 17 June. SpainNABthe National Advisory Council for Impact Investment. An appointment for the impact economy sector which, as in its first edition, aims to become a meeting point for the public, private and social sectors to work for a fair and sustainable reconstruction.
Organised by SpainNAB, the independent, cross-sectoral advisory body representing Spain in the GSG (Global Steering Group) for Impact Investment, the event is a benchmark for the impact economy sector in our country.
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