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Sustainability earns stakeholders’ trust, crucial for corporate success

Authenticity, effective communication and business acumen are factors that earn trust for an organization, according to senior managers at Atlantic Copper, ILUNION and PRISA during the conference ‘ESG criteria: earning the trust of our stakeholders

8 Nov, 2023 | 3 min read

“Companies’ legitimacy and reputation are fundamental if they are to be recognized as proactive actors in response to the social and environmental challenges facing society”, said Ignasi Carreras, professor and director of NGO-NPO management training programs at Esade’s Social Innovation Institute, during the online conference ‘ESG criteria: earning the trust of our stakeholders, held by Esade and the SERES Foundation to analyze the impact of sustainability on company business and effective communications. Carreras also explained that companies that align their values and ability to achieve results with their mission are more trusted by their stakeholders.

Ana Sainz, director general of the SERES Foundation, highlighted that “ESG factors are strategic considerations that gain the trust of all stakeholders. Companies are changing and becoming increasingly engaged with society. This calls for in-house change and new forms of communication to make them more trustworthy. The next few years will be critical: company must ensure their operations are more authentic and transparent, and forge closer links to all stakeholders”.

Ability to earn the trust of all stakeholders

One of the most effective instruments for earning trust is communication, believes Macarena Gutiérrez, director general of Atlantic Copper. She underlined the importance of having action plans with each group of stakeholders: “It’s essential to tailor the message to each stakeholder. Foresight is a constant in our strategy and is the best way to be credible and maintain a good reputation”. Gutiérrez also mentioned the importance of corporate governance: “A company can only be socially responsible if it has good governance”.

Ana María López San Román, corporate director of Ethics, Sustainability and Alliances at ILUNION, is convinced that “the involvement and participation of our teams is the first step towards gaining the trust of our stakeholders”. López San Román stressed that the presence of sustainability in the management committee as a strategic commitment becomes a reality in decision taking. In this respect, “we handle alliances with our stakeholders via discussion panels and listening channels. This gains trust because it’s part of sustainability projects and strategy”, she said.

Rosa Mª Junquera, head of sustainability at PRISA, reminded the audience that “success is based on earning the trust and credibility of stakeholders. The commitment of senior management to sustainability makes the process more authentic”. Junquera also emphasized that this credibility “is based on good in-house communications” and that they “try to keep communications as transparent as possible and in keeping with the company’s values”. She ended by saying that training is crucial in this respect because, “to enable stakeholders to be aware of and appreciate your progress, it’s essential to teach employees about sustainability”.