The 27 countries of the European Union have agreed to invest 750 billion euros to create a stronger, more digital Europe with a lower environmental impact.
The 27 countries of the European Union have agreed to invest €750 billion to create a stronger, more digital Europe with a lower environmental impact.
On the 17th of June, Dcycle wanted to be part of the Forbes Summit Sustainability 2021. It discussed the NextGenerationEU recovery plan for post-pandemic transformation and recovery. The 27 countries of the European Union have agreed to invest €750 billion to create a stronger, more digital Europe with a lower environmental impact. The fight against climate change will receive 30% of European funds, the largest budget in its history.
NextGenerationEU Recovery Plan
The recovery plan has three essential pillars:
- Recovery: generating quality jobs quickly.
- Resilience: enabling society and the economy to adapt to future economic, environmental, humanitarian and health crises.
- Transformation: economic, environmental and social. Investing publicly, and privately, in an urgent and urgent transition. This transition is based on sustainable development through social, territorial and gender conversion.
Within Spain, this plan will promote business, territorial and sectoral clusters. To this end, training based on digitalisation will be promoted and energy efficiency projects will be carried out in cities and infrastructures, with a commitment to renewable energies. In addition, SMEs are the main priority of this recovery plan. The most disruptive element of the recovery plan is that it aims to use big data to facilitate transformations, with the vision of creating more sustainable cities.
The role of big businesses as a drivers of change
Businesses should start by establishing a common language based on the EU’s green taxonomy. This sets out the activities that make it possible to accurately and holistically assess the real environmental impact of economic activities. On the other hand, they must implement energy transformation processes that drive business decarbonisation in a way that does not harm their profitability. In addition, the creation of strategic alliances (SDG 17) between small and large companies needs to be encouraged in order to create a multiplier effect for sustainability. Green finance, transparency based on KPIs and risks, and regulations that adapt to innovation must be encouraged.
What is the connection between the 2030 Agenda and the recovery plan?
The 2030 Agenda and the recovery plan go hand in hand. On the one hand, the 2030 Agenda is a roadmap, while the recovery plan is an enabler of tools to achieve these goals. This linkage will use impact indicators to help prioritise, simplify the process and neutralise those that have a negative impact. By mobilising civil society, business, funders and governments, commitments are made and strategic partnerships are formed to achieve them.
Taken together, the 2030 Agenda and the recovery plan establish a link between green and digital transition with greater macroeconomic stability. In short, it means linking medium- and long-term goals with short-term actions.
How do we make sustainability a reality for society?
Making consumers understand that there is a single health (WHO), as our health is directly affected by the health of the planet. It is essential to understand the benefits of sustainable transformation, both for consumers and businesses. Moreover, the more self-demanding citizens and businesses are, the more impact legislation will have.
Business forums that push forward:
- Spanish Green Growth Group: Association created to encourage collaboration between the private and public sector in decarbonisation and promotion of the circular economy. Its president, also director of sustainability at Ferrovial, assures that the green movement offers many opportunities, and although we are on track with decarbonisation targets, collaboration is the way to achieve positive impact in the medium and long term.
- Foro de Sostenibilidad Ejecutivos y Financieros: an association that promotes the access of professionals to positions of responsibility, promoting the sustainability and competitiveness of companies and institutions. Its president, who is also director of the Next Generation unit at LLYC, reflects on the importance of creating sustainability objectives in all departments. She assures that these goals will be accelerated by the flow of agile capital and the establishment of a monetary value to the impact of companies.
- Woman Action Sustainability: Association that aims to elevate sustainability to the first strategic level of companies. For its president, who is also IKEA’s director of sustainability, sustainability must be developed with precise objectives and through the work and experience of experts who can guide strategic decision-making.
- Forética: Association that promotes the inclusion of social and environmental strategies in corporate governance and management. Its director assures that it is time to establish objectives with a clear date for when companies will be net zero or net positive, committing to efficiency and renewable energies, among others.
What is already being done?
- Manuel de la Rocha, Secretary General for Economic Affairs and G20 in the Spanish Government: “Those countries with greater social, gender and territorial conversion have more durable and sustainable growth over time. There is no trade off between equity and efficiency.”
- Mikel García-Prieto, Managing Director of Triodos Bank in Spain: “We want our money to be used for something positive in the world, that’s why Triodos Bank has great transparency and we publish all the projects we finance.”
- Joan Roca, El Celler de Can Roca: Gastronomy is a world in which sustainability is gaining importance and that is why we have initiated projects to make use of, recycle and reuse products. This is the direction in which we all have to go.”
- Nacho Aragón, Founder of NEUTRALE: “We apply sustainability in different ways, we don’t make collections or discounts, all products are made in Spain and Portugal with recycled and organic materials.”
- Cristina Sanchez, Executive Director of the UN Global Compact in Spain: “By the end of the year, the EU will oblige companies to establish a due diligence and thus be able to carry out an analysis of their impact.”
- Florent Bannwarth, Operations Director for Spain and Portugal at BlaBlaCar: “BlaBlaCar saves 1.6 million tonnes of CO2 per year” through the car sharing business model.
- Natalia Mota, director of purchasing, quality and sustainability at McDonald’s Spain: “We have a roadmap to reduce plastic packaging by other renewable, recycled or certified ones, we are committed to electric mobility and alliances to make very big improvements”.
At Dcycle we understand business transformation in the same way as the EU, facilitating sustainability through digitalisation. We want to democratise the strategic decision making of SMEs, as they are the business engine of Spain.
To facilitate this sustainable transition, we want to contribute to business decarbonisation, creating internal and external communication of objectives and helping to understand the environmental impact of companies. Through environmental intelligence, companies can establish growth strategies aligned with the United Nations 2030 Agenda.
Find out more about Dcycle and join the new social contract based on sustainable transformation.