15 Jul
European Union capital markets

Spanish Government presents 2020 Progress Report on implementation of 2030 Agenda

The Spanish Government presents 2020 Progress Report on implementation of 2030 Agenda

The document analyses and evaluates the policies developed over the last year to implement the 2030 Agenda in Spain and offers responses to the health, economic and social crisis stemming from the coronavirus.

The government also approved measures aimed at families, vulnerable groups and companies.

The Spanish Council of Ministers analysed yesterday (14 July 2020) the ‘2020 Progress Report’, which examines Spain’s implementation of the Sustainable Development Goals committed to in the 2030 Agenda.

The Minister for the Treasury and Government Spokesperson, María Jesús Montero, stressed that the document presented by the Second Vice-President of the Government, Pablo Iglesias, amounts to “a type of accountability to the public”.

The report contains the measures adopted by the government, the regional governments and local authorities over the last 12 months, to move towards achieving the Sustainable Development Goals.

This includes certain measures that have already been approved, such as the ban on dismissals for justified sick leave and the rise in the minimum wage, along with others approved in recent weeks, such as the Climate Change and Energy Transition Act.

The document also includes the actions to alleviate the health, economic and social consequences stemming from the pandemic caused by the coronavirus, among which María Jesús Montero cited the following:

  • the ban on cutting off essential supplies and the suspension of evictions
  • the approval of the Minimum Living Income
  • the benefits for the cessation of activity for the self-employed and
  • the regulation of Temporary Lay-off Plans caused by force majeure

Improvement in corporate governance for listed companies
The Council of Ministers approved, for its submission to Parliament, the Draft Law to Foster the Long-term Involvement of Shareholders of Listed Companies, which amends the Capital Companies Act and other financial laws.

The new law, explained María Jesús Montero, transposes a European Directive designed to improve the corporate governance of listed companies in the European Union and thus increase their possibilities of financing in the long term.

The draft law establishes that listed companies may identify their shareholders to induce their active participation and involvement in the development of the company. It obliges investment firms to publish their investment strategy in listed companies and regulates the information that must be included in the remuneration policy of the members of boards of directors.

The draft law also enhances transparency in all operations with related parties that may lead to conflicts of interest, and includes other measures geared to improving the competitiveness of securities markets.

According to the Government Spokesperson, the text will have positive repercussions on the sustainability of companies, the well-being of workers and the competitiveness of the markets.

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