ACCIONA, working with consulting firm EY, has developed a methodology for measuring the socio-economic impact of its activities in the markets where it operates.
ACCIONA, working with consulting firm EY, has developed a methodology for measuring the socio-economic impact of its activities in the markets where it operates. The theory behind the method was developed in parallel with the first two real-world applications, to measure the impact of #acciona Energy in the renewable energy business in Mexico and South Africa; this enabled the method to be completed, tested and fine-tuned to ensure its validity.
The project, entitled ACCIONA: a business strategy with social value, which is part of the company's Sustainability Master Plan, arose out of concerns and the need to reliably quantify the Company's contribution to economic growth, social progress and environmental balance in the territories where it operates. Having a tool for quantifying the company's contribution in real terms closes the circle of ACCIONA's involvement in the communities where it operates.
The methodology is being rolled out gradually, starting with an assessment of the impact of the renewable energy business (wind and photovoltaic) in two strategic countries: Mexico and South Africa. It will be extended progressively to other markets and activities with the ultimate goal of having a complete picture of ACCIONA's socio-economic impact, broken down by country, division, business and project.
The objective for 2016 is for the Energy business to measure its socioeconomic footprint in two additional countries, and to adapt the methodology to the Infrastructure division by conducting a pilot project.
The methodology provides figures on the direct, indirect and induced impact on GDP and employment per MW of wind or photovoltaic capacity and, by extension, the overall impact of the renewable energy capacity installed by #acciona.
It also provides insights into other variables such as the contribution to energy security and independence, the value of community action projects, avoided emissions of CO2 and other gases that are harmful to the environment, avoided water consumption, and land use.
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