This year’s theme focuses on the UN’s Sustainable Development Agenda and promoting the many ways in which accreditation can help meet these goals.
COFRAC and ENAC, the French and Spanish National Accreditation Body members share with us below feedback on specific initiatives in the economic financial area.
Offer greater clarity to investors in their investment choices in favor of the development of a sustainable economy
Socially responsible investment (SRI) takes into account several themes such as social, ethical, environmental and governance criteria.
The promotion of this type of investment aims to encourage companies to integrate environmental, social and governance (ESG) criteria into their policies, and individuals to invest their savings in more ethical, socially responsible and environmentally friendly investments, without obscuring the expected financial return.
Adopting a socially responsible approach to investment becomes possible by investing in SRI funds that meet these criteria. The money collected by these funds is then directly invested in companies in the real economy that meet SRI criteria.
The use of accreditation responds to a need for confidence in such investment funds. Mandatory since 2015, it accompanies the will of French public authorities to promote them.
The accreditation issued by COFRAC, Comité français d’accréditation, concerns certification bodies that are accredited to assess and certify, in the form of a label, good practices in socially responsible investment. This accredited certification provides greater clarity for institutional and individual investors wishing to participate in the development of a sustainable economy through their investment choices.
At 31 December 2020, 656 funds had received the SRI label, involving 98 management companies for a total outstanding amount of 350 billion euros.
Tax incentives for R&D&i, a leverage for Spanish investment in science
Research, technological development and innovation are key elements for business development competitivity, contributing to economic growth and improving social welfare. Thus, one of the main objectives of Spanish public policies has been the promotion of investment in R&D&i in Spain, with tax deductions as one of the most effective tools to achieve this purpose.
The Spanish corporate tax law offers applicants the possibility of providing the Tax Administration with reasoned reports about the fulfillment of R&D&i activities in order to obtain tax deductions. Reasoned reports provide companies, taxpayers and the administration itself with a tool to demonstrate trust or legal certainty about technical qualification, endorsing the right to tax deductions. These reports need to be supported by a technical qualification report issued by a certification body accredited by ENAC, in order to provide substantial guarantees of credibility. The high level of confidence placed in accredited entities has a direct impact on the proper functioning of the scheme. This is evidenced by the degree of acceptance of the ratings proposed in the technical reports issued by the certification bodies and presented by the reasoned reports applicants, is very high, 97%.