Endesa : Foundation, the first corporate foundation on the Ibex35 accredited in transparency by Lealtad Instituciones

The accreditation process that Lealtad Instituciones started in June has just concluded. By complying with the principles established, Endesa Foundation obtained the accreditation that verifies its transparent management and the application of the highest standards of good governance at the foundation. Lealtad Instituciones analyses the internal practices of the respective business foundations regarding transparency, internal operations, management assessment and good governance. Thus, Endesa Foundation has been recognised, and has become the first corporate foundation on the Ibex35 to attain this accreditation.

Endesa Foundation has always been committed to transparency and rigour in carrying out its activities, and it is committed to continue advancing toward the model of maximum transparency, which Spanish society is increasingly demanding of its foundations. Therefore, obtaining this accreditation responds to this concern by being able to demonstrate good governance, efficient fund management and fulfilment of the social objectives of the Endesa Foundation, demonstrating to its stakeholders and the public in general the excellent functioning of Endesa Foundation as a rigorous and independent corporate institution.

For its part, Lealtad Instituciones has expanded its experience from accrediting non-for-profit organisations, and is now also dedicated to corporate foundations. It is currently the first and only professional organisation in Spain that analyses and provides business and asset-holding foundations with an accreditation as a function of complying with the 7 Principles of Transparency and Best Practices that have been defined by a committee of experts of recognised prestige. Among other aspects, the principles address the functioning of the Board of Directors and its committees; clarity, advertising and achieving the social objective; planning and monitoring activity; accountability; financing and relations with founders; control in the use of funds and regulatory compliance.

The Endesa Foundation, chaired by Borja Prado, has a clear commitment to social development through its educational projects, training for employment, environmental pledge and cultural initiatives.

It boosts educational projects by means of initiatives aimed at transforming and innovating in education at all levels and fostering academic excellence in universities through scholarships, grants and academic chairs.

It supports employment training projects, focussing on the promotion of talent, aimed at people at risk of social exclusion, low-income young entrepreneurs and professionals over the age of 50.

It promotes environmental-like initiatives related to education in ecological culture and promotion of energy efficiency. In addition, it is committed to projects that reduce the environmental impact of industrial areas.

Last, but by no means least, the foundation continues to work on the illumination of historical-artistic heritage properties and promoting, restoring and preserving art and culture.