With the launch of Confirming Circular, Endesa has decided to reward more than 3,500 companies for their good sustainable practices and, more specifically, their actions in the circular economy.
The Confirming Circular gives firms more incentives as a result of more environmentally friendly practices they undertake, allowing them to lower the cost of advance payments of more than 50% in some areas: energy management, emissions reduction, waste recovery, water management, and the development of business strategies for environmental management and circular economy.
"Circular Confirming is a valuable service for our suppliers. Endesa wants to grow with them, support them, and empower them to follow the path of circularity together," says Virginia Ocio, the head of Endesa's circular economy.
Endesa paid more than €3.2 billion50 percent in 2021, compared to €3.2 billion50 percent in 2020, according to the latest data available. This growth runs parallel to the company's investment strategy, which calls for a total of €8.5 billion15 percentage points for the years 2023-2025.
Endesa's belief that it must more closely collaborate with its supply chain in addition to buying goods and services, has sparked the Confirming Circular, which has led to a commitment to sustainability and the circular economy.
Endesa has sent a letter to all banks with which it maintains long-term confirming lines -BBVA, CaixaBank, and Santander - in order to provide the country's industry fabric this versatile tool that enhances its sustainability, competitiveness, and utility for their suppliers.
People who follow this program benefit from a more flexible and competitive line of financing that does not consume their bank lines, which improves their working capital balance and reduces the risk of non-payment. In addition, this type of Confirming supports the company's supply chain management plan.