In a business landscape lean toward proactive and measurable sustainability, governments and international organizations are poised to enact tighter rules that push for responsible practices. Companies that respond effectively will not only adapt but stand out, proving their versatility in a shifting market. In this evolving scene, AENOR, a leading authority on trust and governance in Spain, updated its Good Corporate Governance Index certification to align with emerging market needs in sustainability governance.
The upgrade emerged from the counsel of respected firms including Deloitte Legal, Ernst & Young Abogados, PwC Tax & Legal, and the Garrigues firm. This evolution is presented as a reference framework for organizations committed to governance and holistic sustainability. Through this collaborative effort, the new offering addresses current demands while anticipating future needs and organizational aspirations regarding good governance. The model centers on the national context and prioritizes the expectations of managers, stakeholders, and the broader network of participants involved in the governance process. In this way, companies can demonstrate strong governance to investors, customers, employees, proxy advisors, auditors, and the public at large.
The core benefit of certification lies in receiving an independent assessment of how well a company aligns with national and international recommendations and best practices in corporate governance. With this certificate, AENOR pursues its mission of fostering trust between organizations and individuals, supporting organizations committed to responsible practices on issues that matter to society, and earning broad recognition among citizens. (Cited: Mayrata Conesa, ESG Director at AENOR)
Until now, certificates highlighted performance in both listed and unlisted entities across finance, industry, infrastructure, and service sectors. The renewed certification is crafted to cover not only listed firms but also other organizations achieving governance maturity.
The improved Good Corporate Governance Index strengthens transparency and the active participation of boards and their committees within their areas of authority. Mayrata Conesa notes that this certification underpins an organization’s governance model and builds trust, forming the bedrock for a sustainable company. The environmental and social strategies of the organization are shaped by the governing body, and the process clarifies governance for all stakeholders, especially those with less experience in governance matters.
Governance for sustainability and ESG commitment
When considering real-world trends, Mayrata Conesa, AENOR’s ESG Director, describes good corporate governance as increasingly central to integrating sustainability into business strategy. She emphasizes the importance of addressing compliance risks, transparency, and the management of information that must be accessible to interested groups. The primary goals of this updated version include encouraging companies to collaborate toward comprehensive sustainability and strong ESG performance. In this view, good corporate governance is a key factor in effectively weaving sustainability into daily operations, thereby reinforcing long-term sustainable value creation. (Cited: Mayrata Conesa)
The aim of the renewed certification solution is to generate a positive impact within the business environment, strengthen company reputations, and build enduring trust among stakeholders. The approach takes a 360-degree look at sustainability, highlighting current excellence while supporting long-term growth that contributes to the broader welfare of society. The result is a governance framework that not only verifies best practices but also guides organizations toward resilience and responsible leadership in a changing world.