Sustainability model

VIESGOSustainabilitySustainability model

A business model that supports sustainability

Check our Sustainability Report 2019

As an energy company, one of our main goals within the energy transition we are currently experiencing is to sustainably develop our activity. But what is the energy transition and how can we ensure this sustainable development? The energy transition is an evolution towards an economy of low greenhouse gas emissions that involves a significant transformation of the electricity system and a profound change in the way in which users consume energy. This process is marked by one of the major challenges facing mankind: climate change and its collateral damage, such as the scarcity of water or social imbalances. Facing these challenges is only possible if sustainable development is taken into account.

To meet this goal, we have designed a route map that is structured around three essential areas: renewable energies; contributing towards the change in the generation matrix through the deployment of renewable energies, electricity grids; modernising and adapting the electricity grids to the new model, the clearest proof of which is our leadership in the deployment of smart meters and the implementation of active distribution grid management systems for the integration of renewables, and electrification; which consists of replacing fossil fuels with electricity in all sectors of activity.

In terms of social action, Viesgo focuses on working with and for our stakeholders, clearly supporting people, the environment, and its development. All this with a clear goal: to maximise the positive impact on the communities in which we operate, with the basic premise of ethical behaviour, and transparency and good governance in our actions.

Communities and Shared Value

The sustainable development that marks our model has a social basis. We care about people and work towards creating value in the environment and in our communities, promoting their growth, having a positive impact on their wellbeing, and establishing direct communications to learn about the needs surrounding us.

Generating a positive impact. That’s the goal. We are therefore conduct our business while considering the communities in order to contribute towards their prosperity. We establish dialogues with local players, we study the factors of each region, and we undertake initiatives that create a long-term economic and social value.

Find out more about our projects at Social Commitment

Viesgo and ranking GRESB

Viesgo is committed to long-term sustainability, thanks to which it received the international GRESB recognition in 2019 as one of the most sustainable infrastructure companies in Europe. The protection of biodiversity, reduction of the carbon footprint, health and safety, and support for the work-life balance and diversity were just some of the more highly-valued aspects.

Viesgo leads the ranking GRESB

In this independent ranking, which focuses on assessing environmental, social and governance (ESG) performance of companies, the Viesgo firms take fourth and fifth place out of 236 European infrastructure companies and are among the 12 most sustainable in the world.

Results by category:

  • – The company Viesgo Producción took first place in the category Operators of the non-Renewable Energy Generation system.
  • – The companies Viesgo Distribución and Viesgo Renovables took second place in the category of Companies owning Electricity Grids, which includes electricity and gas distributors and carriers.
  • – The company Holdco took tenth place out of 393 infrastructure companies from different sectors worldwide.

This data is a reflection of company management in 2018, reaching the milestone of its companies being included among the twenty most sustainable in the world. Viesgo will be subjected to assessment by this benchmark every year.

What is GRESB?

GRESB is a sustainability benchmark used as an assessment and comparison tool to measure and value the quality of infrastructures in terms of environmental, social and good governance sustainability:

  • Environmental footprint of the asset: efficiency actions and measures taken to monitor and decrease the environmental footprint of the asset.
  • Direct social impact: relationship and impact of the company on its stakeholders and the direct social impact of its activities.
  • Sustainability governance: policies, procedures and focus of sustainability in terms of the company or organisation.

2.1 Promoting the E.DSO Sustainable Grid Charter

Our commitment to sustainability, innovation, and the energy transition takes the fore once again after driving and promoting the creation of the E.DSO Sustainable Grid Charter, the European consortium of distribution system operators that we joined almost a year ago, and that is a benchmark organisation for the European institutions in terms of regulations, innovation, and sustainability.

The Sustainable Grid Charter states the commitment of E.DSO towards sustainability in all its areas: environmental, social and corporate, and highlights the contribution of the UN Sustainable Development Goals to a more sustainable future, to which we at Viesgo are also committed.

Yet another step forward in our strategy of becoming a company committed to global sustainability and of jointly leading the transition towards a fairer, more sustainable energy model, along with the main European distributors.

What is E.DSO?

E.DSO gathers 44 leading electricity distribution system operators (DSOs) in 25 countries, including 3 national associations, cooperating to ensure the reliability of Europe’s electricity supply. Among its activities, E.DSO promotes development, innovation and research, and consumer participation through smart grids in order to obtain a sustainable energy system.

The document can be found at https://www.edsoforsmartgrids.eu/

Good Governance, Ethics and Transparency

At Viesgo we are committed to good governance, ethics and transparency in each of the activities we perform. We understand business management to be a set of responsible decisions that ensure the wellbeing of society and the environment surrounding us, compliance with the regulations and laws established, and transparency in communicating our financial and economic plans and goals.

We act with responsability

Responsibility is one of the four values that identify our work and our company, and that inspire us to work with the wellbeing of society and of the communities in which we operate in mind.

Each person working at Viesgo, either directly or indirectly, does so with our code of ethics in mind, which includes the principles governing our professional behaviour. Being familiar with it and abiding by it is a priority for all those who form part of the company, as it offers guidance for its compliance, especially in situations considered complex from an ethical viewpoint.

To ensure it is correctly applied and disseminated, we organise yearly training courses to help us strengthen its contents, which we combine with practical examples to clear up any doubts that may arise regarding its application. The Viesgo code of ethics is also an essential reference for all the suppliers and companies that work with us.

Crime and corruption prevention

At Viesgo we work on preventing and fighting corruption in any of its forms. To do so, we work with the current law in mind and our policies include the mechanisms to follow to ensure the activity is conducted in line with the law. We also have a crime prevention model that helps us prevent and detect any inappropriate behaviour by an employee or collaborator of the company, in line with the principles included in our Code of ethics.

Find out more

Innovation

We develop projects to remain at the forefront of digitalisation and promote the competitiveness of the company

Environment

We support respect for the environment as part of our values and commitment to society

Sustainable Development Goals

Committed to the UN Sustainable Development Goals