Report on the use of transformative economy

Following the recent approval of the annual accounts for the 2024-2025 financial year by the Board of Trustees, the resource management team has prepared a report on the use of transformative economy at the Itaka-Escolapios Foundation during the past academic year. The report focuses its analysis on four service providers selected for the areas of finance, electricity, insurance, and telecommunications. The report highlights the progress made in selecting providers based on criteria of sustainability and consistency with our mission.

Ethical finance: more operational at Fiare Banca Ética

During the 2024-2025 academic year, 62% of the Foundation's average cash flow was held at Fiare Banca Ética, a leading credit cooperative in ethical finance. The report points out the challenge of continuing to move forward so that Fiare gradually becomes the main banking entity for operations.

Electricity: 100% renewable with Goiener

In the shelters, premises, and rented housing contracted directly by Itaka-Escolapios, electricity consumption is 100% renewable thanks to Goiener, a non-profit cooperative committed to transforming the energy sector.

Insurance: transition to ethical policies with Arç

The Foundation is making progress in insurance mediation through Arç, a cooperative with the EthSI seal that promotes contracting with insurance companies that are also aligned with ethical criteria. 88% of policies (homes, hostels, premises, vehicles, travel, and courses) are already mediated by Arç. However, in terms of turnover, this represents just over half.

Telecommunications: promoting Somos Conexión in homes

Although a significant part of telecommunications is shared with schools, in homes the Foundation is reinforcing its commitment to sustainable telecommunications through the Somos Conexión cooperative. 71% of Internet connections in homes are already made through Somos Conexión.

In addition, the report reflects the support for these organizations with which we share values: Itaka-Escolapios is a partner of Goiener and Somos Conexión, and participates in the share capital of Fiare.

The report is part of our commitment to transparency and accountability: it is included in the financial information available on the Itaka-Escolapios website, in the financial transparency section.