SVI and EsImpact Officialise Collaboration to Advance the True & Fair Project in Spain
Social Value International (SVI) has signed a new Partnership Agreement with EsImpact, SVI’s Joint Member Network in Spain, to roll out the True & Fair Project nationally and accelerate the integration of sustainability into mainstream financial accounting.
The partnership marks a major step in scaling the True & Fair Project regionally, moving from global research and legal analysis to practical action with Spanish companies, investors and other market actors.
At the core of this work is a simple but powerful question: do company accounts truly reflect the full picture of a company’s performance?
In Spanish law, the principle of imagen fiel (true and fair view) already exists and requires company directors to consider this question. The collaboration with EsImpact is about putting this legal requirement into practice, ensuring that the cost of doing harm is no longer invisible within financial statements.
Engaging decision-makers around imagen fiel
Through the partnership, EsImpact will:
Raise awareness of imagen fiel across Spain, building on existing research and practical guidance
Host multi-stakeholder roundtables with companies, investors and consultants
Support organisations to consider sustainability impacts directly within financial statements
These efforts build on two foundational publications released in 2025:
A concise research summary on how the “true and fair” requirement appears in four EU jurisdictions, including Spain, with the Spanish section produced by legal consultant Insight4.
A practical guide for company directors in Spain who have concluded that sustainability issues are relevant to ensuring their financial statements present a true and fair view
By partnering with EsImpact, Spain now becomes a key region for turning legal foundations into true accountability.
Charles Castro, Chair of EsImpact, says: “Spain already has the legal foundation through the principle of imagen fiel. What has been missing is practical guidance, real-world dialogue and the confidence to apply it to sustainability impacts.
This partnership with SVI allows us to move from theory to action – supporting company directors and investors to reflect the full economic reality of companies’ activities in financial statements.”
Jo Fackler, Director of Global Affairs at SVI, says: “Financial accounting excludes the social and environmental costs that inform real economic performance and systemic risk. The True & Fair Project is about changing that, and regional partnerships like this one with EsImpact are how transformation actually happens.”
Building a global movement, one region at a time
This milestone follows last year’s launch of the True & Fair Project in Australia through SVI’s partnership announcement with SIMNA, which marks the beginning of a growing network of regional delivery partners.
More country partnerships will be announced over the coming months as SVI scales the True & Fair Project globally; supporting companies and investors to consider sustainability impacts directly within financial statements, in line with existing “true and fair” legal requirements.
Get involved
Read the guide to imagen fiel for company directors in Spain
Contact EsImpact to learn more or join upcoming roundtables