Addressing all aspects that have to do with sustainability has gone from being a laudable action to the true reason for being of many Spanish companies, which are advancing steadily on the international scene. There is also in Europe the magnifying glass of increasingly intensive regulation, but that is not the reason why certain national firms have the highest quality standards. Indra has been leading the prestigious Dow Jones Sustainability Index for three consecutive years, which indicates that Indra is the most sustainable company in the world in the technology sector, and BBVA also became, according to the same index, the most sustainable bank in Europe.
All these issues have been discussed at the Vanguardia Dialogues table which, under the heading “Spanish companies that are world leaders in sustainability”, brought together Manuel Ausaverri, Chief Strategy Officer (CSO) and head of sustainability at Indra; Jacobo Anaya, director of energy and sustainability at BBVA in Spain; Estíbaliz Salazar, head of the sustainability and institutional relations division at Enaire; Ángel Fraile, responsible for sustainability planning and stakeholder management at Endesa and Germán Granda, general director of Forética.
“Today, any company that aspires to do business, to attract talent, must keep in mind non-financial aspects and the impact that its activity has on the planet and on people. Indra was a pioneer in these aspects. We want to be the solution and for our clients to obtain results,” says Manuel Ausaverri, for whom attracting and retaining talent is key. For a company like Indra, “the secret is to live in permanent dissatisfaction because when regulation crushes you, it is already too late. “You have to always be looking at the next wave and consider it part of the company’s strategy.”
For Enaire, “sustainability is unquestionable. Aviation has historically been highly questioned due to its environmental impact,” says Estíbaliz Salazar. Enaire’s progress is clear. “Little by little, aspects of sustainability and social contribution have been gaining importance and for years we have drawn up our plans with the objectives of the 2030 agenda,” adds Salazar.
Germán Granda highlights that at Forética we have been working in the field of corporate sustainability for 25 years. The name and focus have evolved as it has become strategic, but the essence of a good company has always been to generate long-term value by anticipating environmental and social demands.”
Granda considers that its relevance derives “from a very intense regulatory agenda when sustainability is considered a priority in the economy.” Regarding investors, in his opinion, ESG investment and financing will continue to grow. And regarding consumption, he hopes that “sustainability is the standard in all products and services and that access to it is not a luxury.”
The vision from an energy company like Endesa also reflects the long journey made. “Our first sustainability plan dates back to 2003, more than 20 years ago, and has given us a vision that is very integrated into the company’s culture,” says Ángel Fraile. “In reality, more than a sustainability plan what we have is a sustainable business plan. Companies must know that if they are not sustainable they will not survive,” he adds.
From the banking perspective, “everything we have heard in this panel is an example that the decarbonization and sustainability process will require a high level of investment, a figure equivalent to 8% of global GDP each year,” he points out. Jacob Anaya. In his opinion, banking is the catalyst for this process. Among BBVA’s challenges is taking advantage of the opportunity to decarbonize. “We accompany our clients with financing and advice. On this path, new clean technologies will be key.”
The situation of the Spanish company regarding sustainability is good. “In Spain we have stopped being followers and now we have grown. We are not that bad,” adds Ausaverri. In any case, the current situation map presents risks. “We embrace the flag of sustainability, as we do at Indra, but we should remove that flag from those who make biased use of it. An example. We must remove the flag of sustainability from the apostles of degrowth,” asserts Ausaverri, who advocates becoming an apostle of sustainable growth. “Otherwise, let’s not emit, let’s remove the factories and return to the Middle Ages.”
Another risk verbalized by the Indra representative and agreed upon by the entire table. Excess regulation. “The European Commission also takes up the flag of sustainability, but if the result is hyper-regulation that leads to excess bureaucracy, we will be using it incorrectly. “We cannot leave sustainability in the hands of bureaucrats.”
Third problem: activism. From large companies, those that push the sustainability bandwagon, the position is clear. “The goal is not simply to do good. Our shareholders pay us to make money,” says Ausaverri.
Can we grow under the parameters of sustainability? Definitely. An example: “We are responsible for air navigation services in Spain and we do not have a notable environmental impact but our clients, the airlines, do,” says Estíbaliz Salazar. Enaire’s objective is to be more efficient “so that airline companies emit as little as possible and to do so we shorten their routes, improve approaches, so that they consume less fuel and are less noisy.” The results for 2023 are spectacular for the company responsible for controlling air routes.
“Last year we served 2% more air traffic (2.2 million flights) than in 2019 and we have reduced the distance traveled by 3.8 million kilometers. With our greater efficiency, airlines have stopped flying a distance equivalent to 94 times around the Earth,” says Salazar.
In any case, the level of adoption of the culture of sustainability is not homogeneous. “I am a little concerned that more than 90% of the companies are not BBVA, Indra or Endesa. They are SMEs. There is a point of, on the one hand, complying with the regulatory obligation, without believing much in what is behind it, and on the other hand there is the administrative race that this situation entails, which affects the speed of implementation,” explains Fraile. “Large companies have a responsibility to help small ones and we are very concerned about the risk of polarization on certain issues. And there you have to do a lot of pedagogy,” he continues.
The data does not lie. “On half of the days in 2023 the temperature was 1.5 degrees higher and there were two days when we exceeded two degrees. We also recorded a 29% increase in the occurrence of droughts. We must redirect the situation to achieve development that respects planetary limits and that thinks about current and future generations. Society, companies and governments have a responsibility,” adds Fraile.
From the perspective of Jacobo Anaya, “to ensure that we are neutral, we must ensure that investments are profitable for all companies. In Europe today, just over 50% of the investments that must be made in search of being neutral are not profitable. Between 30% and 35% are and the rest can be profitable depending on the regulation.” To close the competitiveness gap we need regulatory support, entrepreneurs, new technologies and financing. If new profitable technologies are not achieved, they will not materialize at scale. And we are slow at a global level,” says Anaya.
The lack of adequate speed unites everyone. “At Forética we include more than 200 leading sustainability companies, we see that it is necessary to grow to accelerate their transformation. The good news is that sustainable companies are more competitive and generate more growth opportunities while reducing risks and financing costs. But it must be intelligent growth and also have intelligent regulation and incentives for its development,” explains Granda. For him, “European regulation will be positive if it accelerates the process while taking into account a fair and well-informed transition,” she adds.
“In any case, sustainability and employment should not be opposite terms,” says Ausaverri. “We must avoid associating the concept that sustainability threatens employment because that returns us to polarization. In that sense it is important not to politicize the issue. “We have made a lot of progress by not having a political debate,” she maintains. More examples along those lines. “After the closure of the As Pontes plant, with an alternative plan, we managed to create 1,300 jobs,” says Ángel Fraile.
There has never been as much technology as there is now and there has never been as much employment as there is today, says Ausaverri. “I have a positive vision of progress but politicians could help us by avoiding politicizing sustainability. Is fighting climate change left-wing or right-wing? When we politicize we lose half the support,” she says. Now, if politicization is bad, “the presence of the public is very positive. When the State supplies what the laws of the economy do not compensate for, it is key,” she adds.
There has never been as much technology as there is now and there has never been as much employment as there is today, says Ausaverri. “I have a positive vision of progress but politicians could help us by avoiding politicizing sustainability. Is fighting climate change left-wing or right-wing? When we politicize we lose half the support,” she says. Now, if politicization is bad, “the presence of the public is very positive. When the State supplies what the laws of the economy do not compensate for, it is key,” she adds.
The commitment to sustainability has another fundamental element. The attraction of talent. “When you have a long-term purpose you isolate yourself from trends. To attract talent, sustainability is important,” says Germán Granda. Fraile expresses himself in similar terms: “Having good sustainability performance is a talent attraction factor. When we placed sustainability factors in companies, there was more response from future employees.” For Indra, it is essential to retain talent. “This forces us to be closer to the concerns of the new generations,” says Ausaverri. “Young people have a pride in belonging because of values ??and not because of money,” says Salazar.
In order to set the perfect climate, investment is required. What is done on technology is key. “Investing in technology is the way to make the challenges we are discussing possible,” says Ausaverri. For him and his table companions, sustainability without resources is not possible. “Companies with fewer possibilities are very stressed and this problem can threaten the virtuous circle of sustainability,” adds Fraile.
