The implementation of policies and setting of objectives with sustainable criteria They are present in practically the majority of Spanish companies. And not only because European legislation requires compliance with the goals set for 2030 and subsequent years. The ESG (by Environmental, Social and Governancein English) has gone from being just another element of the business structure to being present in all aspects of a company’s life.
In it IV ESG Forum of elEconomista.es It was addressed how the criteria sustainable, social and good governance have permeated companies to the point that they form a basic pillar of companies when it comes to making their decisions and setting their objectives. In fact, there is a certain quorum when it comes to establishing the extent to which the identity of companies has been dyed green.
In the fourth panel of speakers of this sustainable forum, four common points were established as the central axis of sustainable policies. In this way, establishing measurable objectives, a good evaluation, allocating specific financing for ESG and transparency are the basic pillars for the future of companies that have committed to being part of the change in the ecological transition, responsible management of resources and good governance practices.
“The biggest challenge is getting sustainability to take root in everything. It is a challenge but we work so that ESG is in all processes. And it is a satisfaction when it is achieved,” commented the director of Sustainability and Energy Transition of Moeve, formerly Cepsa, Olalla del Río. In this line, the ESG and New Business director of ENGIE Spain, Alfonso Pascual, emphasized. “We are in the entire value chain and in all projects. We are seen as part of the business and not just as another corporate area because we contribute to the company as a whole,” commented the head of the energy company.
Although the fulfillment of objectives is taken into consideration, companies’ strategies now go beyond simple sustainability. In fact, it is common for ESG investments to be made with the short, medium and long term in mind. “Governance is not only hierarchical, but also transversal. It is important to see transparency in what we do. That is why it is key to identify and evaluate the impact of each risk and opportunity. In the ‘E’ it can be easy but the impact in the ‘S’ and in the ‘G’ must be well identified,” commented Urbaser’s Director of Sustainability, Fátima Araluce.
In fact, the director of the Legal Department and head of ESG at Farmaindustria, Ana Bosch, focused on everything linked to the social aspect and how sectors such as pharmaceuticals have been applying these criteria even before the European Union began to legislate on the matter. . “ESG has permeated all strata of a company. From the point of view of a pharmaceutical we aim to improve people’s lives. The medicine has a social value for saving lives but it also represents savings by reducing hospital expenses and reducing the loss of job opportunities. It is clear that in developed countries 70% of the improvement in quality of life comes from the use of medications,” explained Bosch.
To ensure that the entire company keeps in mind the challenges and sustainable objectives, the Director of Strategy and Development of Grupo Lobe, Eduardo Bandrés, gives his construction company as an example. “From design, digitalization, efficiency or production processes… All teams are involved before any investment to have coherence in the development of the future,” commented Bandrés.
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