The Ibex 35 listed companies have heeded the principle recommendations for improving the practices of Business Social Responsibility (RSE) that were proposed by the Real Academia de Ciencias Económicas y Financieras (RACEF) in 2007, according to the study “Creation of Value and Business Social Responsibility (RSE) in the Ibex 35 listed companies" which was drawn up and presented today at the Madrid Stock Exchange by Academician Aldo Olcese.
The act was presided over by the Minister of the Presidency Ramón Jáuregui, and the Vice-President of the RACEF, Lorenzo Gascón, in representation of the President, Jaime Gil Aluja.

The study that measures the follow up of the Ibex 35 companies made between 2007, 2008, and 2009 of the 44 recommendations and 120 indicators proposed by the Academy in 2007, concludes that the performance of the companies “has improved moderately: Specifically, the companies complied with 60% of the recommendations, whilst 40% of the indicators “did not obtain minimum points, therefore there exists a very high potential for improvement”. Nevertheless, the companies state that they are “convinced that the RSE is the correct way for improving competitiveness”.

The study highlights the universities programme of the Global Division of the Banco Santander, which invested over 700 million Euros in order to support university projects around the world. Also worthy of attention is the Global Eco-efficiency Plan of the BBVA, the programme for compliance with the Code of Conduct for suppliers of Inditex, the Social Innovation programme with e-Health of Telefónica, the positioning strategy linked to sustainable development of Acciona, the provision of gas to low income areas in Argentina of Gas Natural, the mining-electrical complex of As Pontes (Galicia) and the Sustainability Laboratory of the Spanish Electricity Network.