Spanish companies see the importance of a sustainability strategy
When looking at how many of the largest 20 companies from 14 European countries present their sustainability strategies, Spain rank second-highest, only marginally behind leaders Germany. All 20 Spanish websites have a strategy in place, and 90% of these come with priorities for action, such as addressing the company's carbon footprint. 75% of the strategies go one step further and embed the company's sustainability efforts within the core business strategy, which shows an awareness that sustainability must be integral for a modern business, both to benefit society and to meet the standards stakeholders expect. We recently wrote on how companies are rising to this challenge across Europe, and Spain are one of the countries at the very forefront of this movement.
Ferrovial are one such company whose sustainability work is outlined in superb detail and clearly aligned with corporate objectives. Their sustainability strategy is called the CSR 20.22 Plan, and it explains the benefits of integrating sustainable initiatives into the business model:
"What was originally conceived as a resource to improve our reputation and create value is now an end goal in itself. We have even taken this a step further and are attempting to implement it into our entire value chain."
Sustainability reports are part of Spanish reporting convention
22 of the 24 ranked Spanish websites either contain a sustainability report or explain that it is integrated into the latest annual report. This is another area where Spanish websites clearly outperform the European average, and show understanding that good sustainability communication is essential for a progressive organisation. 79% of Spanish companies also have an archive containing their previous sustainability reports, making it clear that this facet of their business has been ongoing for several years and enabling stakeholders to explore their efforts over that time. Repsol are a case-in-point for this, with their sustainability reporting archive stretching all the way back to 2005, highlighting the long-term commitment to tackling their impact.