Better-informed and more demanding consumers regarding corporate sustainability messages and increasingly demanding legislation on sustainability are putting those companies that until now simply remained in words, without turning to actions, on the ropes. Investors and boards of directors are also pushing towards the search for real solutions to the great risks posed to the economy by threats such as the climate crisis or the loss of biodiversity. “We are facing a systemic risk” and “this is probably the last opportunity” to treat a problem with “a clear diagnosis. And we are the problem,” declared Fiona Watson, of the World Business Council for Sustainable Development, at the ESG Spain 2023: Corporate Sustainability Forum, organized by Forética and held in Madrid on September 14.
“We talk about risks, but also about business opportunities,” said Ana Herrero, the director of projects and services at Forética, an association that brings together companies and professionals in corporate social responsibility and sustainability. The Forética board pointed out that “there are leading companies that are taking these challenges and risks very seriously.” At the event, the strategies of Accenture, Amazon and Coca-Cola Europacific Partners Iberia, among other companies, were presented. They are all large corporations, with large environmental impacts. “We know we are far from perfect, but we are making progress. Since 2015 we have managed to reduce the weight of packages by 41%, avoiding the use of two million tons of raw materials,” said Juan Manuel Báñez, head of Amazon's circular economy strategy in Europe.
“All companies have the obligation to grow and contribute value to society, but we are clear that this growth must be sustainable,” said Carmen Gómez-Acebo, director of sustainability at Coca-Cola Europacific Partners Iberia. For this company, the path towards sustainability is translating into a commitment to decarbonize manufacturing and transportation, the use of recycled and recyclable packaging and the integration of sustainability in the supplier chain, helping them obtain the necessary financing to carry out investments.
Ana Millán, business director responsible for Accenture in Spain, Portugal and Israel, emphasized the role that technology plays in reducing the environmental impacts of companies. However, she recalled that “technology also has to be environmentally responsible.” “Currently, 5% of global greenhouse gas emissions are the responsibility of technology and, if this continues, they will reach 15%,” Millán warned.
The industry is also doing its homework, especially in terms of energy, an expense that represents 24% of industrial operating costs in Spain, one of the highest percentages in the world. However, the director of the consulting firm Opina 360, Juan Francisco Caro, warned that “the energy transition of the industry is advancing slowly” and that “there are very few changes towards greater electrification.” Caro made these statements at the Industry and Energy Forum, held in Barcelona on September 14 as well.
