May 2008
“Nine large Spanish companies are to adopt the London Benchmarking Group model when measuring the level of their community investments.
The companies, which will assess their performance under the name ‘LBG Espana’, are: Abertis, Agbar, Barclays, Espana, BBVA, Ferrovial, Gas Natural, Iberdrola, RepsolYPF and Telefonica. Their use of the model, which was developed in 1994 by a group of UK multinationals, will be overseen by MAS Business, a consultancy with offices in Madrid and Bilbao.
Other companies in Spain are being invited to begin using the model, which takes into account in-kind activities and volunteering to produce an annual monetary figure that gives a more accurate picture of a company’s overall commitment than statistics on cash support for community projects.
The LBG model has already been exported to other countries, including Australia, Canada, the Czech Republic and the US, and is used by about 180 companies worldwide, among them Barclays, Cadbury Scweppes, GlaxoSmithKline, L’Oreal, Nokia, Procter & Gamble, and Unilever.”
