Foreign Affairs congratulates Spanish companies for their commitment to sustainable development in Latin America

A report prepared by the Ministry of Foreign Affairs and some of the major Spanish companies in Latin America, such as Banco Santander, Telefónica and Repsol, highlights the good practices carried out by these companies and their commitment to sustainable development objectives. The Minister of Foreign Affairs, European Union and Cooperation, Arancha González Laya, has publicly shown her admiration for all that these groups do in the subcontinent, especially for their contribution to sustainable development, during the presentation of the study this Wednesday.

Spain's direct investment in Latin America reaches 150 billion euros, but the social investment of the companies reaches 160 billion and benefits nearly 13 million people. The initiatives include 9,000 projects a year in corporate social responsibility and a fiscal contribution that exceeds 20,000 million. Although the coronavirus pandemic is going to change the economic and social agenda in the coming months, in the minister's opinion, the contribution of Spanish companies to meet this challenge is also being "exemplary". González Laya assured that the foreign sector will be fundamental for Spain's economic recovery and indicated that the Government will work "tirelessly" to that end.

The President of Banco Santander, Ana Botín, who also participated in the presentation, insisted on the need to work together to achieve a more sustainable world and showed her conviction that economic growth policies and social policies can be combined. Botín also asked for support so that entrepreneurs can invest and thus create jobs and higher quality jobs, not only in Latin America, where Santander has 72 million customers and 90,000 employees, but also worldwide.

Telefónica's chairman, José María Álvarez-Pallete, believes that after the coronavirus pandemic, the United Nations' sustainable development goals remain valid and has insisted that society expects companies to help improve their lives and the world. For his part, the Chairman of Iberdrola, Ignacio Sánchez Galán, pointed out that his company serves nearly 40 million people in Latin America and that through its activity it generates employment and social welfare.

Sánchez Galán, who pointed out that compliance with sustainable development objectives (SDA) is enshrined in the electricity group's bylaws through the social dividend, stated that the company's social responsibility policies have become a hallmark of its presence in Latin America.