PRISA has launched its 2022-2025 Sustainability Master Plan, which seeks to integrate ESG (Environmental, Social and Governance) criteria throughout the organization. The plan, approved by the Board of Directors, aligns ESG commitments with the objectives of the Group’s Strategic Plan, presented at the Capital Markets Day last March.
This Master Plan is yet another step forward in the Group's commitment to ESG issues and comes after the creation, less than a year ago, of the Sustainability Committee – a board body that supervises the implementation of PRISA's sustainability strategy – and the Group's Sustainability Department, both led by women. According to Joseph Oughourlian, Chairperson of PRISA, “sustainability is at the very heart of our business. Democracy is built on education and quality news. And in both these areas we are fortunate to be in a position to create a more just and inclusive society. We must continue to resolutely promote sustainability both in the outside world and within the company itself”.
The 2022-2025 Sustainability Master Plan focuses on three major commitments involving the entire organization. The first is the real, direct and positive impact generated by the content and services offered by the Group through its business areas (Santillana, in education and PRISA Media, in news, information and entertainment). Here, there is a direct impact on students, schools and audiences, particularly with regard to raising awareness of the enormous social and environmental challenges facing society.
The second commitment of the Plan is to the responsible management of talent, the supply chain and the environment. Thirdly, the plan commits the Group to governance that ensures ethical and compliance values at the corporate level.
With this strategy, PRISA positions itself as a driver of social and climate transformation and firmly reinforces its commitment to leading the transition towards a sustainable economy and to continue promoting equal opportunities and the progress of a democratic society.
This plan has considered the current context of sustainability, Spanish and European regulations, trends in the education and media sectors, and, finally, the opinion of stakeholders with regard to PRISA and its business units. To this end, a new materiality analysis has been carried out through a consultation with the Group's main stakeholders on the key issues that they consider most relevant for PRISA.
The different areas of the business units (Santillana and PRISA Media) also collaborated in the drafting of the Sustainability Master Plan. "Sustainability needs to permeate the entire organization if it’s to have the capacity for transformation and impact," says Rosa Junquera, Chief Sustainability Officer at PRISA.
The Master Plan is to be deployed via nearly 80 actions with specific metrics and indicators that will measure the Group's impact on sustainability. For example, in 2025 Santillana will measure the transformation process of 80% of the schools that are clients of its Compartir and Richmond Solution programs, with the aim of evaluating progress in learning. In addition, 100% of new educational projects will promote sustainable development. For Francisco Cuadrado, executive chairperson of Santillana, "we are a facilitator of the sustainability agenda in schools. We seek to stimulate the abilities and skills of both teachers and students, and even families, so as to better face the huge challenges facing society”.
Meanwhile, in 2023, PRISA Media and its brands will establish indicators to measure the production of the Group's digital content on ESG topics and related audiences. "The generation of rigorous and quality content is one of the best ways to ensure the sustainability and stability of democratic societies, as well as to combat fake news and those who seek to undermine democracy" says Carlos Núñez, executive chairperson of PRISA Media.
In addition, progress will be made in measuring the carbon footprint of advertising campaigns and in the incorporation of sustainability criteria in the organization of events. In the field of social action, the equivalent advertising value of space offered to social and cultural organizations will increase by at least 10%.
In the responsible management of talent, PRISA will increase the hours of training offered to its professionals, and the Group intends to ensure that 45% of those in management positions across the Group and its business units are women. With regard to the environment, the Group is working on the development of a roadmap that seeks to achieve climate neutrality and reduce its impact in this area.
In terms of committed governance, one of the key goals is to ensure that women make up 40% of the Board of Directors. The figure is currently 35.7%, and the Group is listed by the IBEX Gender Equality Index as one of the companies to have the highest participation of women, both on its board of directors and in senior management. Also in 2021, the Group incorporated ESG criteria into variable remuneration schemes, with 5% subject to the achievement of a range of ESG indicators.
According to PRISA's CFO Pilar Gil, "the company already integrates sustainability into the Group's financial strategy: we incorporate ethical criteria into our operations and take into account social and environmental factors when it comes to making investment and financing decisions."
With this new Master Plan, PRISA is set to contribute to the achievement of seven Sustainable Development Goals (SDGs), that it deems as priorities: Quality Education (SDG 4); Gender Equality (SDG 5); Decent Work and Economic Growth (SDG 8); Reduced Inequalities (SDG 10), Responsible Consumption and Production (SDG 12), Climate Action (SDG 13), Peace, Justice and Strong Institutions (SDG 16); and a transversal SDG, Partnerships for the Goals (SDG17).
Thanks to PRISA's market position as a leading company in Spain and Latin America and the reach of its brands to millions of readers, listeners, students and teachers, the company is in a unique position to have a real impact on people of all ages. “Education and news are two decisive levers to raise awareness and, from there, to promote the action and change that we need to achieve a better world. That is sustainable development”, says Rosa Junquera.
The PRISA IMPACTA approach and concept will bring together all the Group’s different sustainable initiatives.
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