The year 2020 has been one we will remember for the severe health, economic and social crisis caused by the unprecedented COVID-19 pandemic, which still continues to pose a titanic challenge for families and businesses around the world and is testing the resilience of modern societies.
Despite the great difficulties we face as a society, at Suma Capital we have set ourselves the challenge of continuing to work hard to ensure that responsible investment is consolidated as one of the fundamental pillars of economic and social recovery, both in our country and across Europe.
We publicly support the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and we have joined initiatives such as the European Alliance for a Green Recovery and the Manifesto for a sustainable economic recovery. We have also signed the open letter to the European Union to support the ambition set out in the European Green Deal and to demand the necessary reduction in greenhouse gas emissions.
During this past year, we have maintained our drive for energy transition through projects such as solar power plant development with Efelec Energy, the transformation of biogas into biomethane alongside Enagás in the UNUE project, and the acquisition of a shareholding in Gestcompost for the treatment of and energy recovery from organic and biodegradable waste.
Likewise, we have continued to support growth capital initiatives in small and medium-sized companies in our country by investing in their expansion with our backing, as is the case with Nice People at Work, Germans Homs and Caher. At Suma Capital, we are convinced that companies are the driving force behind economic and social recovery.
This joint effort by our team, our investors and our investees, all committed to our purpose of “adding our commitment to build the future we believe in”, has enabled us to receive recognitions such as the renewal of the highest A+ rating by the United Nations Principles for Responsible Investment (PRI), or the Award for the Best ESG Initiative in Spain for the second consecutive year, from the Spanish Private Equity Association (Asociación Española de Capital, Crecimiento e Inversión, ASCRI).
By way of summary, you will find the most relevant 2020 milestones below. Although we are aware that we face a 2021 that will not be smooth sailing, at Suma Capital we are convinced that it will also be a year of great opportunities to continue working on promoting responsible investment. We are also convinced that cultural change is needed to be more sensitive to the growing concern for health, social impact and digital transformation, guided by values and ways of working that give greater importance to the well-being of people and the conservation of the environment.
We invite you, as our motto says, to join us in this challenge so that we can continue to “growing together”.
President of Suma Capital
Suma Capital Newsletter 1T 2021