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The impact that environmental issues have on business was given as an example. Indeed, these environmental issues decisively affect many industries and add risks to these economic activities." 18 January 2024 News, Summaries And Proposals Fide On December 12, 2023, the foundation Fide held the session titled “Activism in public consultation processes and project paralysis, a manageable risk? in which they participated as speakers Inés García-Pintos Balbás, Of Counsel at Gabeiras&Asociados and Associate Professor at the UCM, advisor on sustainability and sustainable finances; Antonio Gomariz, Director of Crisis and Risks in Llorente and Cuenca, Leader of the Activism and Social License to Operate practice; Vicente Magro Servetus, Magistrate of the Criminal Chamber of the Supreme Court and as moderator, Gonzalo Iturmendi Morales, Lawyer, Partner and Director of the G. Iturmendi y Asociados Law Firm, SLP. Academic Advisor of Fide. The session began with the intervention of Ines Garcia-Pintos which put us in a position to talk about how environmental, social and governance factors (called ESG or ESG in English) affect the development of companies and their businesses. Indeed, companies generate impacts on their natural or social environment.
But the environment also generates, in turn, impacts on businesses via additional risks to their activity or opportunities. It is the so-called double materiality of ESG factors and business. Given the topic addressed in today's session, the impact that environmental issues have on business (droughts, rising temperatures, rising sea levels in certain areas, etc.) was given as an example. Indeed, these environmental issues decisively affect many industries and add risks to these economic activities. These new sources of business risk (and opportunities!) are part of investors' expectations UK Phone Number about company performance. In fact, according to Spainsif annual market study 2023, the topics included in the conversations that investors have with companies throughout the year (engagement) are, among others: climate transition plans, human rights, diversity and gender equality, labor rights, etc. In addition to conditioning investors' expectations about company performance, ESG factors have a very significant impact on the reputation of companies and their relationship with their stakeholders.
Once these premises are established, Antonio Gomariz put us in context by asking participants about the contemporary “conveniences” that we all appreciate: do we want clean, emission-free energy in our homes, safe and quality food, long-lasting batteries for mobile devices and electric vehicles, as well as housing in natural environments? We all long for these conditions, but to enjoy them, infrastructure such as wind farms, solar panels, agricultural production facilities, farms, oil import and transformation, and the implementation of urban planning processes to have homes surrounded by nature, among others, are essential. However, the implementation of such projects raises disagreements. When presenting a plan with these characteristics, beyond obtaining legal authorizations and complying with regulations, it is crucial to have a social license to operate, given that conflicts can easily arise with social groups that, for valid and legitimate reasons, oppose the development of certain processes. These projects share common characteristics, such as their strategic character, where the success of obtaining or not a social license depends on the management of the company or the business model, and the risk of suffering reputational damage due to the perception of a negative impact that can generate resistance on the part of some groups and a fear of abandoning the projects.
But the environment also generates, in turn, impacts on businesses via additional risks to their activity or opportunities. It is the so-called double materiality of ESG factors and business. Given the topic addressed in today's session, the impact that environmental issues have on business (droughts, rising temperatures, rising sea levels in certain areas, etc.) was given as an example. Indeed, these environmental issues decisively affect many industries and add risks to these economic activities. These new sources of business risk (and opportunities!) are part of investors' expectations UK Phone Number about company performance. In fact, according to Spainsif annual market study 2023, the topics included in the conversations that investors have with companies throughout the year (engagement) are, among others: climate transition plans, human rights, diversity and gender equality, labor rights, etc. In addition to conditioning investors' expectations about company performance, ESG factors have a very significant impact on the reputation of companies and their relationship with their stakeholders.
Once these premises are established, Antonio Gomariz put us in context by asking participants about the contemporary “conveniences” that we all appreciate: do we want clean, emission-free energy in our homes, safe and quality food, long-lasting batteries for mobile devices and electric vehicles, as well as housing in natural environments? We all long for these conditions, but to enjoy them, infrastructure such as wind farms, solar panels, agricultural production facilities, farms, oil import and transformation, and the implementation of urban planning processes to have homes surrounded by nature, among others, are essential. However, the implementation of such projects raises disagreements. When presenting a plan with these characteristics, beyond obtaining legal authorizations and complying with regulations, it is crucial to have a social license to operate, given that conflicts can easily arise with social groups that, for valid and legitimate reasons, oppose the development of certain processes. These projects share common characteristics, such as their strategic character, where the success of obtaining or not a social license depends on the management of the company or the business model, and the risk of suffering reputational damage due to the perception of a negative impact that can generate resistance on the part of some groups and a fear of abandoning the projects.