The Gas Natural Fenosa Foundation takes one of the top spots in the 2016 Transparency Report
The Gas Natural Fenosa Foundation remains one of the most transparent foundations in the company foundation sector, obtaining 16 of the 19 points assessed.
The eighth “Informe de transparencia y buen gobierno en la web de las fundaciones españolas” (Report on transparency and good governance on the websites of Spanish foundations) placed special emphasis on the governance of the foundations and penalised any foundations without an independent trustee as a member of their patronage. According to J.M. Cavanna, Chairman of the Commitment and Transparency Foundation, “a patronage consisting exclusively of executives from the company is an organisation that is not likely to benefit from independent opinions”.
The Atresmedia and Iberdrola Foundations obtained 17 out of the 19 points assessed (one more than the Gas Natural Fenosa Foundation).
The Gas Natural Fenosa Foundation has been leading this transparency ranking since 2010, and has improved its score over these years, from 10 points in 2010 to 17 this year.
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