The Transparency, Good Governance and Integrity Cluster is established as a business platform, coordinated by Forética in Spain, created with the aim of promoting a sustainable corporate governance model and addressing different issues related to the management of ESG aspects, transferring the main trends in this area and serving as a meeting point where companies can dialogue and exchange knowledge.
This business platform, coordinated by Forética and led by CaixaBank, Cuatrecasas and Grupo Cooperativo Cajamar, together with more than 50 participating companies, aims to make visible the progress and good practices of the business sector in the integration of sustainability aspects in the management and leadership of companies, in addition to acting as an interlocutor with ministries, public administrations and regulatory bodies.
Each year, the Cluster works on a main topic on which a study is prepared and presented at a public event. In addition, several meetings are held each year and all this is complemented with technical notes, analyzing the main regulatory developments that may be developed throughout the year.
To act as a business platform of reference in the integration of sustainability in the corporate governance of organizations, in addition to making visible the progress and work carried out by companies in this area.
To land the main international trends and transfer them to the national context, generating knowledge in this regard that will allow Spanish companies to continue advancing towards a sustainable corporate governance model.
Establishment of alliances, collaborations and dialogue between the companies that make up the group, public administrations, international and national reference entities and organizations, regulatory bodies and experts in corporate governance.
The activity of the Transparency, Good Governance and Integrity Cluster in 2023 is focused on working on the keys to integrate ESG aspects into the governance of organizations and their decision making.
During the year 2023, the more than 50 companies that make up the Cluster, address key issues for this objective such as non-financial/sustainability reporting and the new Directive on Corporate Reporting on Sustainability, supply chain management from an ESG point of view and Governance and management of ESG issues in the Boards of Directors, among other topics.
The Cluster's work plan for 2023 focuses on three main themes, following up on issues related to transparency, ethics and business integrity:
- In the first part of the year we will focus on where supply chain management is heading from an ESG point of view and on identifying what we can expect in organizations, based on the relevance of new regulatory developments related to the sustainable governance of organizations and ESG due diligence (Corporate Sustainability Due Diligence Directive) in value chains and other existing European regulations related to this area.
- We will also discuss Governance and the management of ESG issues on Boards of Directors, addressing the new regulatory requirements and challenges that have arisen in the last year, such as the European Directive on gender balance on company boards of directors or the European Sustainability Reporting Directive, among other aspects.
- In the second half of the year, the Cluster will address the main advances and developments that are taking place in relation to the reporting of non-financial and sustainability information of companies. The European Sustainability Reporting Directive, the future reporting standards (ESRS) and the sustainable finance taxonomy are clear examples of the relevance of sustainability reporting for companies and investors.
Forética, as a national partner of the World Business Council for Sustainable Development (WBCSD), maintains close collaboration with the Redefining Value area when working on issues related to the reporting of non-financial or sustainability information, sustainable governance or ESG risk management. As part of its collaboration, Forética is involved in updating the Reporting Exchange platform, which includes the main initiatives related to ESG reporting at an international level.
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