Tax relief for companies committed to the fight against climate change in Bizkaia
25 November 2020 | Sustainability
The County Council of Bizkaia has developed an initiative, the first of its kind, which aims to draw up tax regulations aligned with the Sustainable Development Goals (SDGs) of the United Nations. The initiative will establish tax incentives for those companies, projects or investments that are committed to sustainable development and respond to the three major challenges of the Historical Territory: the demographic challenge (SDG 15), climate change (SDG 13) and economic development (SDG 8).
With this initiative, the County Council of Bizkaia manages to connect its public policies with the achievement of the SDGs, as well as to strengthen the business and social network through the tax modification planned for May 2021, for which they will use the tax capacity provided by the Economic Agreement.
From Factor Ideas for change we celebrate this initiative by the County Council, as it is a great encouragement in the commitment towards sustainable development and will bring benefits to all the sectors involved.
In 2012, Factor joined the UN Global Compact, the world's largest sustainability initiative, and since then it has been committed to implementing its principles. In addition, Factor has worked on aligning its corporate management with the SDGs, where it finds new business opportunities, improves the relationship with its stakeholders, and promotes innovation.
In addition, from Factor we help companies in the identification of their possible contributions to the achievement of the 17 objectives established by the United Nations, through different tools such as:
- Development of an SDGs strategy.
- Establishment of objectives and indicators for the evaluation of the level of progress.
- Identification of the most relevant SDGs for the company.
- Plan to monitor the progress of the contribution.
Furthermore, Factor collaborates with the companies in the identification of good practices aligned with global, innovative and sustainable solutions in areas such as climate change, energy, sustainability or intermediation in carbon and energy markets.
The implementation of a transformation process towards sustainable development is a challenge, but from Factor we feel proud to participate in this process of change, as well as to support organizations in their path of transformation and innovation, which cooperates in social progress, environmental balance and economic growth.
Factor Ideas for change
Factor has more than 15 years of experience offering technical consulting services in the areas of climate change adaptation and mitigation, carbon footprint analysis, sustainability, circular economy, renewable energy and carbon markets, amongst other things, undertaken on behalf of governments and international organizations, as well as for over 400 companies, with more than 1,100 projects undertaken within 40+ countries.