Sustainability: we are changing the laws

Sustainability: we are changing the laws

Monday, 14 November, 2022

The climate emergency and the social crisis require affirmative solutions and, to achieve this, everyone needs to become involved.

For this reason, we have been highlighting the actions that Comindex and its represented companies are carrying out to improve the future of our social and living environment.

Nevertheless, to date no legal acknowledgment has been granted to companies that generate social and environmental benefits, while also delivering financial value in this regard.

At least, not until now!

The Companies with Aims initiative: a new legal concept

Thanks to the emergence of the Companies with Aims initiative, on 19 October Spain enacted Act 18/2022, entitled Create and Grow.

Its aim: to encourage the set up and growth of companies.

The act incorporates an additional provision which confers recognition to a new legal concept in Spain: Companies for the Common Interest and Benefit (SBIC, from the Spanish).

The purpose of SBICs shall include a definition of their aims and the social and environmental benefits pursued through their operations. Accordingly, they will be conveying their commitment in a visible way.

This acknowledgment entails a huge leap forward in the Spanish legal system, enabling it to advance towards a new mindset: the development of sustainable, inclusive companies.

What has Comindex contributed to the Companies with Aims initiative?

Comindex has joined this initiative, both as a member organisation and by its employees becoming signatories.

Comindex has joined this initiative, both as a member organisation and by its employees becoming signatories.

As a result, the support from Comindex and from more than 50 acclaimed celebrities, more than 400 organisations and almost 31,000 signatures has led to the initiative fostered by B Lab Spain reaching Congress and ultimately being approved.

We hope that this milestone will chart a new course in the business world; one in which companies and organisations support these initiatives that seek to strike a balance between economic development and the quest for social and environmental benefits.

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