The inclusion of ESG (Environmental, Social and Governance) objectives in the variable part of executive compensation has progressively increased over the last decade, as explained in this article by the Spanish financial media outlet Expansion. The piece also indicates that this trend is mainly driven by investors, who assess their investment decisions based on these metrics.

According to the report of the 2023 European Proxy Season Review in Spain, released by Morrow Sodali and echoed in the article, it is a common practice for Ibex companies to use ESG criteria in the remuneration plans to assess the performance of executives. 

Please read the article here (Spanish only).