The Spanish Network has commemorated on 25th September the second anniversary of SDGs with a great event containing: a new study on how the companies are meeting SDGs, a new online tool and a video.

The event was inaugurated by the Secretary of State for Cooperation in Latin America (Ministry of Foreign Affairs) and was closed by the Ambassador for the 2030 Special Mission. The Ambassador stated there that "much remains to be done, but we are very excited about everything the private sector is achieving”.

After the study carried out on the sustainability reports of Ibex35 companies, we have known that 74% of them already includes a commitment with the SDGs in their sustainability reports..

The study reveals too that 57% of the IBEX 35 has already aligned its core business with  SDGs. That is, these corporations have taken a step beyond commitment, performing an internal exercise to analyze their positive and negative contributions to each of these goals, and identifying those areas on which they need to work specially.

On the other hand, our publication emphasizes than partnerships are gaining importance: in particular, 34% of Ibex companies are already pursuing the creation of alliances to promote SDGs, a task that is included in Goal 17.

Despite the progress made, there are still areas of action to be explored. For example, no one of the companie in the IBEX 35 reports about the training of employees or suppliers in relation to SDGs. This is particularly relevant, taken into account the capacity of senior managers and intermediate managers to contribute to a business culture linked to sustainable development. Likewise, only 8% have made quantifiable public commitments regarding SDGs.

"The big organizations of our country have adopted SDGs as their own goals. This is a win-win strategy: companies contribute to professionalizing and improving development-oriented actions, while this framework allows them to redefine the financial, social and environmental value of their businesses and obtain new opportunities”, explained Isabel Garro, general manager at Spanish Global Compact Network.

Innovation, a strategic pillar for development

On the road to sustainable development, it is essential to harmonize three basic elements: economic growth, social inclusion and protection of the environment. These elements are interrelated and are essential to the well-being of individuals and societies. A challenge that, according to IBEX 35 companies, involves a significant investment in innovation as a source of progress.

For this reason, and as a differential point with respect to the rest of Spanish business, the SDG 9 – which works industry, innovation and infrastructures – is the most present in its sustainability reports. It is followed by SDG 8 – which promotes sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all – and SDG 13, focused on climate action. The majority of Spanish companies are more dedicated to the SDG 5, on gender equality, and to the SDG 8.