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Sustainability enters a stage of growing demand by governments, investors and citizens - 2018 Forética Report

Monday, December 10, 2018

Forética has recently presented the Forética 2018 Report on the evolution of CSR and Sustainability, under the company of the ESG attributes -environmental, social and governance, and the conscious consumer.

The report focuses on the integration of sustainability in the supervisory activity of the Boards of Directors. The study reveals that in Spain 29% of IBEX 35 companies have a commission or sub-commission for corporate social responsibility within their Boards.

In addition, the study identifies the following trends that will shape sustainability in the next decade: The Sustainable Development Goals (SDG), Climate Change, the Circular Economy, Human Rights and the Future of Work marked by accelerated technological and social transformation.

The document concludes that corporate social responsibility is at the end of its second cycle of evolution. A first stage, "the optimistic cycle", was characterized by a CSR lead by companies and a supremacy of sustainability standards. The present cycle, "the cycle of conviction", has managed to incorporate governments and supranational institutions as accelerating agents of the global agenda, and is characterized by the irruption of soft-law as a tool for attracting an early majority of companies. Corporate social responsibility agendas have gone from a low level of maturity, based on reputation, to a degree of greater focus on impact, focused on alignment with the business.

The largest critical mass and a high degree of alignment around sustainability by governments, companies and investors will open the "pragmatic cycle", an acceleration stage where regulatory requirements will lead to sustainability in new growth rates.

The newly released report is the seventh edition, which since 2002 has been analysing the trends that define the corporate social responsibility agenda at a national and international level and presents a picture of its degree of implementation and development.