companies with purpose archives

B Corp companies growing at an average annual rate of 30%

28 June 202231 March 2022 by Cristina García del Valle

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.

You can access the annual report.

Business purpose drives value generation

17 October 20222 February 2022 by Cristina García del Valle

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.

The 23 Spanish companies that lead the world

28 June 20229 December 2021 by María Herrero

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 companies that lead the world — *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.

70% of Spanish companies have a corporate purpose

25 November 202119 July 2021 by Cristina García del Valle

Nearly 70% of companies have a defined Business 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, according to the The Economist.

This is the main conclusion of the First Business Purpose Barometer in Spain, produced by APD y Transcendentwhich analyses the results of a survey of nearly 300 executives to understand the trends and challenges in defining, activating, measuring and understanding the value that Purpose creates for companies and their stakeholders. Companies from more than 20 sectors participated in the survey.

The survey reveals some key findings, which are presented below:

The level of knowledge about the company's Purpose is consolidating, although there is some confusion about the concept. 26% of respondents confuse the Purpose with the vision of the company.

There is still work to be done to ensure that the Purpose permeates all levels of the organisation. There is a gap in the knowledge of Executives and Middle Management compared to the Rest of Employees category, with the latter having the least knowledge of the definition.

Purpose is a lever to attract talent at all levels of the organisation. 79% of respondents express interest in working for companies with Purpose. More than a quarter (27%) would be willing to change jobs even with a reduction in salary.

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

There is little doubt about the perception of Purpose as an element of value for the company, at least according to 76% of respondents.

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Purpose in business is profitable

11 October 202213 May 2021 by Francesca Mondello

Purpose-driven companies double their market value four times faster than others and also record a higher return on capital of 5.9%. However, purpose has a positive impact far beyond companies' bottom lines, generating many other benefits as well.

2020 has been a year of unprecedented challenges that have exposed the vulnerabilities of globalisation and capitalism as we know it. Even in the midst of the crisis, companies are reviewing their role in society and their strategies to see how, instead of returning to normality and to the business as usualcan be part of the solution and contribute to global efforts to rebuild a more sustainable and resilient economy in the post-COVID-19 era.

Against this backdrop of uncertainty, business purpose has become increasingly important and, over time, has evolved from a nice, inspirational phrase to a prerequisite for success.

If you're wondering why purpose is now ubiquitous and has established itself as a global trend, here are the answers you're looking for.

Purpose is profitable

Purpose is a strategic lever for value creation and its profitability is more than proven. The recently published study Return on Purpose Fortuna Advisors and CEO Investor Forum's research shows, among others, that companies with a defined and integrated purpose, whose focus is on maximising their financial results and the common good, perform better, have a higher market valuation and create more shareholder value compared to the rest.

Purpose-driven companies double their market value four times faster than others and also record a higher return on capital of 5.9%. However, purpose has a positive impact far beyond companies' bottom lines, generating many other benefits as well.

Improves reputation and legitimacy to operate

"Without a purpose, no company, public or private, can reach its full potential...To thrive over time, every company must not only deliver financial results, but also show how it makes a positive contribution to society." wrote Larry Fink, CEO of BlackRock, in one of his letters.

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. Therefore, those companies defining and activating their purpose, significantly reduce the risk of a corporate scandal eroding their licence to operate. And this is even more important in today's digital age where everything we do, or worse, what we don't do, is in the public domain thanks to the internet.

Attracts, retains and motivates talent

Attracting, retaining and motivating talent is very difficult and, in some sectors, more so than in others. Business purpose is a differentiator that can be beneficial for all three aspects as, from an HR management point of view, it is a true talent management strategy. employer branding.

82% of employees think purpose is important. This is particularly significant in recruitment processes and for younger people whose greatest aspiration is to work in organisations that contribute to the well-being of society and the planet. In the case of employees already employed by purpose-driven companies, we know that they feel more motivated and their sense of belonging is stronger, so turnover levels decrease significantly.

Customer loyalty

Purpose emphasises the unique and distinctive contribution a company makes to the big problems we face. For that reason, it has the potential to generate stronger relationships with customers who tend to be more attracted to companies that convey authenticity and that they consider to be worthy of their trust. According to a survey conducted by Porter Novelli in 2019, when a company acts in a purpose-driven way, consumers say they are more likely to: buy its products and services (86%) trust it (86%) and be more loyal (83%).

Investor interest increases

Investors are increasingly integrating ESG criteria into their decisions and are interested in the social and environmental performance of companies. The Global Impact Investing Network (GIIN) in its latest report shows how in just three years the global impact investment market has grown sevenfold to reach a volume of 715 billion euros. Undoubtedly, the companies whose purpose is integrated in the core The companies that maximise their positive impact are better positioned vis-à-vis investors and are able to finance their debt at a lower interest rate than their competitors.

Promotes innovation

A McKinsey study revealed that purpose-driven companies tend to redesign products and services and look for innovative solutions that use fewer natural resources, meet specific needs or involve improved operational efficiency or cost savings. Purpose, social and environmental sustainability and innovation are strongly related and mutually dependent.

If you found this interesting and would like to know more about how to define and activate the purpose in your company to lead the transition to an impact economicsPlease do not hesitate to contact us at info@transcendent.es or consult our blog.

The new leaders of purposeful capitalism

31 March 202125 March 2021 by María Herrero

Purposeful leaders respond unhesitatingly to their shareholders, but also to their employees, customers, suppliers, investors and the communities in which they operate to the question "why does society need a company like the one you lead".

The present moment is undoubtedly the beginning of a very complex but also exciting decade, with great opportunities and great challenges for humanity.

A new era marked by the UN Agenda 2030 to achieve sustainable economic growth. An era that obliges us all, as economic agents and as citizens of the world, to make conscious and responsible decisions that not only boost economic profits - which are undoubtedly necessary for the survival of any company - but that are committed to impact as a competitive advantage to improve the results of business activity.

Impact is the clear commitment to make a positive contribution to the quality of life of people and the planet without leaving anyone behind.

A new era marked by the resurgence of a new capitalismThe purpose is driven by a clearly defined "purpose" in terms of the company's principles and values. The purpose defined by John Elkinton in the 3Ps of the triple bottom line, profit-people-planet is joined by the fourth P driving force: purpose. Purpose, founded on principles and values such as sustainability and the generation of positive social impact, becomes a lever of innovation and growth for the generation of long-term value for all the company's stakeholders.

New era, new leaders

In the midst of a profound and perhaps "invisible" transformation accelerated by the Covid 19 pandemic that is radically changing the way we live, work and relate to each other, this new purposeful, impactful, manageable and measurable capitalism needs new, courageous, conscious and responsible leaders. These leaders, men and women, are those we call leaders with purpose and that society demands more than ever.

The purposeful leaders answer without hesitation to their shareholders, but also to their employees, customers, suppliers, investors and the communities in which they operate to the question "why does society need a company like the one you lead".

"Step up or get out of the way".

In the face of new challenges such as climate change (which Bill Gates says will have greater consequences than the Covid 19 crisis if we do not manage to be carbon neutral by 2050), our economic system no longer offers viable solutions.

We are living through a health crisis with more than 110 million people infected and more than 2.5 million dead worldwide. An economic crisis that is pushing public debt to unprecedented levels in order to alleviate the massive destruction of thousands of jobs, companies and sectors where massive public aid will not be enough to alleviate the disastrous levels of unemployment and poverty.

The pandemic comes on top of other major humanitarian challenges such as hunger, refugees, access to clean water, loss of wildlife and biodiversity.

"Take a step forward, or get out of the way."was the provocative slogan of Tomorrow's Capitalism Forum, led by John Elkington, a leading thinker and world reference on sustainability, held in the heart of London's financial district last January.

John Elkington says that "we are living in the positive Exponential Decade and business leaders and financial markets will have no choice but to step forward in radically new ways if they want to move their businesses forward".

Making purpose a role model

There is much talk of two purposeful leaders, Paul Polman former CEO of Unilever, and Emmanuel Faber, former CEO of Danone. Both have pioneered the transformation of Unilever and Danone into entities with a strong purpose backed by ethical and socially responsible principles and values that have exponentially grown the bottom line while satisfying the creation of value for its customers, employees and the community in which it operates (the so-called "stakeholders").

But there are also many purposeful leaders in our country, José Ignacio Goirigolzarri, the next chairman of the new Caixabank, is a leader for whom purpose is part of his DNA. Educated in Deusto by the Society of Jesus, he speaks of purpose as an "acculturated" term in Europe, since the term social purpose is part of our way of being and working, just as he experienced it at school with his classmates.

In all his speeches, it is surprising how many times he mentions people as the driving force for success in any company or business project. Goirigolzarri emphasised "the importance of teams feeling a deep sense of pride in belonging to the company in which they work" and spoke of these teams as "our people" - he said this with a naturalness and a closeness worthy of admiration.

In this regard, the words of Antonio Garrigues, another great pioneer and leader with purpose, who defends that values and principles always come first. Garrigues says that the leader's great challenge is to bring the purpose down to earth so that everyone works to achieve that purpose. In short, it is a matter of making purpose an integral behavioural model for all the company's employees and executives.

"Our capitalism is no longer fit for purpose".

"Our capitalism no longer responds to an ideal of true purpose. These are the firm, tough words of the chairman of the Global Steering Group, Sir Ronald Cohen, the purposeful leader who has been most vocal about the need for a new capitalism based on doing good by doing well (doing well by doing good). Ronnie, as he is called by all those who come into contact with him (from his closest friends to the president of the United Kingdom or Bono, the American singer), defends in his book Impact Reshaping Capitalism to drive real change that a new, more humane capitalism is urgently needed.

In this fascinating book he calls on governments, investors, employers, employees, savers, consumers, entrepreneurs... in short, each and every one of us to lead a new capitalism with purpose. To introduce "impact" into our daily decisions, demanding that our governments, financial managers and business leaders act "leaving no one behind".

Measurable impact in monetary and comparable terms becomes a competitive advantage for those companies that activate it in the core of their businesses, so that the more positive impact they generate in the production of their goods and services, the greater the economic return and the lower the risks assumed by the company. In short, a new capitalism based on optimising the triple return-risk-impact equation to achieve more inclusive and sustainable growth that generates benefits for shareholders and society as a whole.

Governments also have a role to play

For this we will need a good battalion of purposeful, courageous and responsive leaders, trained and prepared to make the new Enterprise 2.0 happen.

Finally, Cohen reminds us of the strategic role of governments in their unique role as regulators of the economy. It is in their hands to prioritise and help those that generate the most positive impact against those that generate the most damage and harm, and to activate, as our European neighbours have done, greater efficiency and cost savings through public policies that "pay for outcomes" and not for "outputs".

A new and exciting capitalism where we all have a role to play, what will be yours? Find out more in the Transcendent blog!

Summit on purpose in business

11 February 202120 January 2021 by Cristina García del Valle

Future of the Corporation - Second Purpose Summit

On 1, 2 and 4 February, the Future of the Corporation- Second Purpose Summit will be held in the city of London, organised by the European Commission. British Academy.

The event will feature, among others, personalities such as Al Gore o Rebecca Henderson. The first edition held last June was attended by executives such as Satya Nadella, CEO of Microsoft, and Roula Khalaf, CEO of FT. All agreed that now is the time to lead organisations with a focus on purpose. Faced with the current challenges, the role of business has never been so critical.

The British Academy's Future of the Corporation programme has developed a battery of Principles for Purposeful Business to put purpose at the heart of business.

The Purpose Summit event was held virtually and streaming access to the sessions is free of charge. here.

DECISIVE MONTHS FOR THE COMPANY'S JOURNEY TOWARDS IMPACT

11 February 202117 September 2020 by Ana Ruiz

September has arrived. The strangest September we can almost all remember. But September means beginnings for most of us. In the midst of the return to routine September brings us beginnings. What beginnings await us this year? Are there going to be big disruptions in the business world in this different autumn? How do we prepare?

These are some of the inertias that we are already detecting and that we believe will be consolidated in the coming months.:

1. Impact investing will weather the storm better

From a financial perspective, impact investment funds are demonstrating better performance and greater resilience than other funds. This reality reinforces the importance of this type of investment, making it a lever for the transformation of the entire business sector.

2. Consumers are changing their consumer preferences

And that change is accelerating with the pandemic. While there will continue to be major inconsistencies in consumer buying habits and the duality - convenience/ immediacy versus sustainability/impact - will remain, the trend towards more sustainable products and services is gaining momentum.

3. The European roadmap to a sustainable economy

The European Green Deal, together with a Just Transition mechanism that will allocate EUR 100 billion over the period 2021-2027 to mitigate the socio-economic impact of the transition to a low-carbon economy, will drive the transformation of business.

4. Business as a key player in the recovery

The idea that business has a leading role to play in the recovery is gaining momentum. In the face of unprecedented economic uncertainty, many companies are becoming the reference point for their employees, suppliers, customers and other stakeholders.

5. The professionalisation of purpose

Only 7% of Fortune 500 CEOs believe their companies should "focus primarily on making profits and not be distracted by social goals. For while capitalism has catalysed enormous progress, it has struggled to address complex issues such as climate change and inequality," according to McKinsey's study. "Purpose: Shifting from why to how".

6. Short-term vs. long-term revenue generation

The economic impact of COVID in many sectors of activity will require that the corporate social impact actions that are implemented are more focused on generating immediate income in the short term, minimising costs. This means moving away from traditional CSR activities, which in many cases act as a cost centre, towards actions with a direct impact on improving the bottom line.

The world we are moving towards will undoubtedly be different from the one we have known so far. Company executives have the opportunity to rethink and reimagine their purpose and the role their companies will play in the future. They can continue with their traditional lines of business or explore new business models that are more adapted to the new habits and preferences of consumers, who will undoubtedly have changed and who will demand that purpose and social impact are at the heart of their activity.

This will drive the company's transformation towards corporate social impact.

Who will succeed?

All signs point to the success of those companies that manage to incorporate sustainability and purpose at a strategic level in the organisation and turn it into a competitive advantage.

In the face of short-termism, rigour and measurement

During the pandemic, many companies have put in place actions to support their stakeholders according to their needs. It is now time to put structure and rigour in place to ensure that these efforts do not remain a short-term, contingency exercise and to make the business sector more resilient in the long term.

It is also time to value their contribution to society by measuring the impact generated and acquiring tangible commitments in the medium and long term with society and the environment.

In any case, we see clearly that what matters is consistency and coherence. This is not the time for Green Washing. It is the time for values and purpose. In capital letters. From the inside. From the top. In every process. In every department. Throughout the value chain. Implemented professionally and from within the organisation. To resist. To move forward. To improve. Find out more at our blog!