• Following the success of the solution for companies present in the Stock Market, the Spanish entity highlights the importance of highlighting these good practices in non-listed companies.
• This new certificate is in addition to the Good Corporate Governance Index certificate launched in 2021 and improved in 2023, aimed primarily at listed companies.

Madrid, November 28, 2024. - In 2021, AENOR launched the first certification solution in the field of good corporate governance. A certification that, to date, has supported the good practices of major companies on the Spanish Stock Exchange such as Prosegur, Banco Santander, CaixaBank or Enagas, among others. However, after this success and the growing interest in good practices in this area, the leading entity in generating trust has seen the need to develop a scheme specially adapted to the characteristics of unlisted companies, such as family companies. For this reason, AENOR has created a Good Government and Governance certification for unlisted companies .

This solution was created with the intention that companies and other private legal entities can generate security and value, above all, for their stakeholders. According to a recent study by ESADE, 88% of Spanish non-listed companies define Corporate Governance as a priority area for their organization. So much so that companies themselves recognize that there is a greater approach to the requirements of Good Governance, in aspects already required by regulations for listed companies and the financial sector.

AENOR's new Good Governance and Governance solution is an innovative certification designed to improve and support governance practices in all types of organizations, including commercial companies, associations, foundations and cooperatives. It is based on the UNE ISO 37000 Governance of organizations: Guidance and UNE ISO 37004 Governance of organizations. Governance maturity model: guidance standards, as well as on specialized guides on the subject.

This solution collects the best updated practices in good governance and improves its content, allowing companies to demonstrate their good performance in this field to their stakeholders : investors, proxies , customers, employees, the regulator itself and society in general.

The professionalization and evolution of good governance models in organizations is a guarantee of long-term sustainability and a responsibility that must be undertaken in an appropriate and proportional manner. For this reason, the following key points have been established:

• Continuous improvement: Implementation of a management system that promotes constant improvement in practices related to the solution.
• Recognition: Certification endorses good governance and good government practices before third parties, including shareholders and other interested parties.
• Adaptability: Flexible solution that adapts to different types of organizations and government structures.
• Regulatory Compliance: Helps organizations comply with increasing regulations and expectations regarding governance and non-financial reporting.