Forética's Social Impact Cluster consolidates with 60 large companies
Forética Social Impact Cluster

The Social Impact Cluster, coordinated by Forética, continues to grow in its first year of activity with 60 large member companies. The business platform -led by Endesa, Grupo Cooperativo Cajamar, Ibercaja and ILUNION, and coordinated by Forética- has become the leading initiative dedicated to analyzing how companies are developing initiatives that seek to understand, value, measure and improve their impact on society and their employees.

At the meeting, the companies in attendance were able to learn about the key aspects of the most relevant measurement tools on the market, especially the Social & Human Capital Protocol, recently developed by the World Business Council for Sustainable Development (WBCSD). Matthew Watkins, member of the Redefining Value area of the WBCSD, explained the progress made in relation to the public consultation open by this organization until June 18, regarding the Protocol, as well as the possibilities of participating in the Social and Human Capital Coalition, of which Forética is a partner in Spain.

In addition, 20 new members were announced at the meeting: Aena, Bankinter, Calidad Pascual, Campofrío, Cepsa, Fundación San Pablo CEU, CIE Automotive, Deloitte, Ferrovial, Gas Natural Fenosa, GSK, ICO, Meliá Hotels International, Mercadona, Mutua Madrileña, Neinor, Reale Seguros, Red Eléctrica de España and Sanofi. The 59 large companies that are members of the program undertake to designate a stable interlocutor at the level of director and/or person responsible for this area, to have a social impact management strategy as a company, and to periodically publish performance indicators in this area.

Trends, knowledge and leadership

The meeting also served to analyze some of the most relevant trends in the social sphere, including equality and the wage gap, human rights and modern slavery, and skills for employability in the future of work, focusing on the measurement of their impact on the company. In addition, the tools with which some of the member companies work have been highlighted, encouraging dialogue and the exchange of good practices for the generation of knowledge in this field.

Ricardo Trujillo, Director of the Social Impact Cluster, emphasized that "the Social Impact Cluster and the commitment of the 60 companies that make it up, shows that managing and evaluating social impact is one of the main priorities for organizations. For this reason, this cluster, coordinated by Forética, works with the aim of providing companies with the main tools, knowledge and trends to reaffirm their leadership in these aspects and capture the opportunities they offer".

The contents and good practices gathered in this session will serve as a starting point for the practical guide on social impact measurement in companies, which Forética is working on and which will be presented later this year within the framework of the Social Impact Cluster.

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