Repsol signs an agreement with ILUNION to drive forward projects with social impact
Antonio Brufau, president of Repsol and Repsol Foundation, and Miguel Carballeda, president of Grupo Social ONCE and ILUNION, have signed this collaboration agreement today, whose objective is to develop projects and businesses in the scope of the energy transition and sustainability together, creating employment opportunities for vulnerable people and people with disabilities.
The agreement has been reached within the framework of Repsol Impacto Social, an investment fund of 50 million euros. The aim is to invest in and develop a portfolio of social companies focused on overcoming the global challenge posed by the energy transition and creating professional opportunities for people from vulnerable groups in Spain and Portugal.
With this initiative, Repsol and Repsol Foundation reinforce their presence in the social impact investment sector alongside ILUNION, pioneer in Spain for the inclusion of people with disabilities in the workforce, leader in service provision, and present in various sectors.
The collaboration between Repsol and ILUNION will entail the participation in the joint acceleration of entrepreneurship projects or direct investment in start-ups and businesses, bringing more added value and taking advantage of the support and strengths of both entities.
The areas of activity to be prioritised in this collaboration are: emissions reduction, sustainable mobility, the circular economy, energy efficiency, and environmentally friendly products and services.
All of these social activities and businesses will be guided by their potential scalability, their economic and financial profitability so that they are sustainable over time, and the inclusion of vulnerable groups, thus ensuring the creation of value and impact.
Repsol Impacto Social
With the launch of a social investment fund managed through the Repsol Impacto Social company last July, Repsol and its Foundation have entered the sector of impact investment, which was not very widely developed in Spain until now.
Through this fund, Repsol Impacto Social plans to allocate five million euros for initial development and investments in the first social start-ups before the end of this year. The objective is to get involved in the initial development of these companies and help them grow and be profitable.
Additionally, as a part of this project Repsol Impacto Social has launched a call for proposals, a which will be open until 15 December, to seize new investment opportunities through www.fundacionrepsol.com.
ILUNION, brand of the Grupo Social ONCE companies
ILUNION is the brand of the Grupo Social ONCE companies and a leader in the creation of quality employment for people with disabilities worldwide. It’s a socially responsible business project that develops its activity with both economic and social profitability criteria. It has a workforce of over 39 000 employees, of which 41% are people with disabilities.
It develops its activity through 50 lines of business and has over 500 work centres across Spain. Some of its companies are front runners in their sectors, like ILUNION Laundry and Hospitality Services, and they are also leaders in other sectors like services, care for the elderly, and physical and technological accessibility.