The Círculo launches an ESG/Sustainability Business Observatory

It is based on an EY document on the regulatory tsunami we are experiencing in ESG matters

The Círculo de Empresarios has published its Position on ESG/Sustainability, through which it calls on both companies and legislators to make the transition to a low-CO2 and more sustainable social and governance (ESG) model realistically and pragmatically. It has also announced the creation of an ESG Business Observatory that will aim to monitor the main trends generated in this area.

This announcement was made by the president of the Círculo de Empresarios, Manuel Pérez-Sala, accompanied by the president of the ESG Working Group of the Círculo, Francisco Román, as well as EY experts: Alberto Castilla and Alberto Andreu, partner of Sustainability and ESG practice, and senior advisor for this area, respectively.

EY has also been the firm that has contributed to the analysis of the situation in this area with the preparation of a detailed study available on the website of the Circle.

According to it, the Spanish company currently obtains a score above the European average in environmental aspects, an average grade in social aspects and a grade below the average in terms of governance aspects.

The Círculo values as “positive the adoption of the regulations from the EU to promote this change, especially when the economic incentives for companies and citizens are not evident in the short term. Faced with a regulatory tsunami that is already a reality, it recommends that companies progressively build the instruments of supervision and control of the governing bodies towards the management bodies, increase the knowledge and professionalization of the management in this matter and identify, beyond risk management, the new opportunities for new businesses and markets derived from sustainability.

Source: CSR Commitment