In 2009, Endesa allocated Euro 39.2 million to conducting and promoting various social development projects, an amount equivalent to 1.64% of net profit from continued operations attributable to the company's shareholders.
Of this amount, 55% was earmarked for Latin America and 45% for Spain and Portugal.
Cooperative initiatives accounted for over half (51%) of social action investments. Cultural initiatives have decreased the most, falling from 28% in 2008 to 22%. Educational and socio-environmental initiatives remain stable.
The basic criteria guiding Endesa in its contribution to social development through its Social Action Strategy are as follows:
- Complement its function as a basic service provider: access to electricity.
- Develop projects linked to the nature and characteristics of the company's businesses, allowing it to apply its know-how.
- Provide access to goods and services that are related to electricity.
- Respond to the needs of the main communities with which Endesa has a relationship.
- Realise Endesa's potential to help create wealth and employment.
- Be sustainable over time and able to replicate the most successful measures.
- Address the needs of underprivileged groups, including rural communities and displaced urban communities.
- Work with the social representatives of communities involved in projects.
- Systematic, transparent accounting which is communicated to society.
Under the premise "think globally and act locally", Endesa’s contribution to social development focuses on projects drawn up by the corporate centre or its regional offices in Spain, through foundations established by the company or its subsidiaries in several countries, and through direct action by these subsidiaries.
- Cultural initiatives
Focused on preserving local cultural identity, supporting study and research into communities’ history, conserving cultural heritage, promoting cultural awards, etc.
- Educational initiatives
Focused on basic literacy, training and general education in local communities and groups, for both children and adults.
- Socio-environmental projects
Focused on promoting and developing values relating to environmental protection within communities. Do not include those directly associated with environmental protection while carrying out the company’s business.
Endesa has formed part of LBG Spain since 2008 - an initiative which has adopted a methodical approach to measuring and assessing the company's social initiatives in terms of their impact on society. This year, Endesa's social action balance sheet has been presented using the British methodology as well as in the company's external social action report.
The methodology of LBG, a world leader in the field of social action, helps companies develop strategies for community work that bring added value to both communities and the companies themselves.