Endesa has decided to give a great boost to the more than 3,500 companies registered as suppliers of the company with the launch of Confirming Circular. It is a new financial solution what are you looking for improve your competitiveness while rewarding their good sustainable practices and, more specifically, their actions to advance in the circular economy.
The Confirming Circular offers companies more bonuses the more circular practices they carry out, allowing them to reduce the costs of the advance of their invoices from 35% to more than 50%. The areas in which circular economy actions can be accredited are the following: energy management, emission reduction, waste recovery, water management and development of business strategies for environmental management and circular economy.
For Virginia Ocio, head of circular economy at Endesa, “Circular Confirming is an advantageous product for our suppliers. Endesa wants to grow with them, accompany them and make sustainability a key strategy, provide them with tools to walk the path of circularity together. We know that the process of electrifying and decarbonizing can be complex, which is why we want to help you and offer innovative solutions that bring tangible benefits. In the commitment to the circular economy we all win: companies, which become more competitive and efficient, society as a whole and the planet, which thus advance towards a more sustainable future”.
According to the latest data available, in 2021 Endesa made purchases for more than €3.2 billion50 percent more than in 2020. An increase that runs parallel to the power of its investment plan, which contemplates for the period 2023-2025, a total of €8.5 billion15 percentage points more than in the 2022-2024 plan.
Proposal with BBVA, CaixaBank and Santander
The Confirming Circular stems from Endesa’s conviction that, in addition to purchasing products and services, it must share the axes of its strategic plan with its supply chain and promote its commitment to sustainability and the circular economy.
Given the importance of this objective, Endesa has launched the proposal to all the banks with which it maintains sustainable confirming lines -BBVA, CaixaBank and Santander- in order, thus, to offer the country’s business fabric this tool, which combines itssustainability, competitiveness and utility for their supplier companies.
Those who adhere to this initiative obtain an alternative and competitive line of financing that does not consume their bank lines, which improves the balance of their working capital and reduces the risk of non-payment. In addition, this type of Confirming offers support to the companies’ supply chain management plan.
