Green Assist: Empowering SODENA to drive a greener future in Navarre

SODENA, the financial tool and business development agency of the Government of Navarre, a region in the North of Spain, is raising its environmental ambitions with the tailored support from Green Assist. Over the next year, this partnership will focus on embedding sustainability deeply into SODENA’s investment strategy and operations, especially in areas like the circular economy, biodiversity, and environmental performance. 

SODENA: The Engine of Sustainable Development in Navarre

SODENA plays a key role in driving the region’s economic transformation, specifically in promoting economically and socially profitable business projects through financial support, investment attraction, and regional development, all while prioritising innovation, sustainability and focusing on environmentally and socially responsible technological and industrial solutions.

SODENA's aim is to align its financial flows and strategic objectives with the Sustainable Development Goals (SDGs) and climate action to create long-term sustainable value. Even though this journey began some years ago, further work is needed to set and apply robust environmental standards before 2027 — and that’s where Green Assist comes in.

Turning Ambition into Action

SODENA has already been instrumental in boosting Navarre’s economy. With Green Assist’s tailored support over the next 12 months (completely financed by CINEA) it will make a significant leap to become a leading green investor and promoter of sustainable growth.

Ricardo has been selected by CINEA as the environmental consultancy to support SODENA throughout this journey, leveraging its international expertise and in-depth local knowledge to help achieve these ambitious sustainability goals. Its team of specialists will offer guidance on environmental strategy development, ESG benchmarking, and the implementation of international best practices for tools and processes across five key workstreams:

• Strengthening the environmental strategy: Starting with a full assessment of existing practices, Green Assist is helping SODENA create its first comprehensive environmental strategy, aligned with the SDGs. This plan will guide how the agency integrates sustainability into all its activities, from project assessments to investment decisions.
• Embedding the green approach in the daily work: Sustainability won’t be just a buzzword. With expert support, SODENA will incorporate environmental criteria into its daily tasks, making sure employees are trained and equipped to evaluate projects through a green lens.
• Improving Green Screening for Projects and Companies: Green Assist will help SODENA develop and apply environmental screening tools for better assessing how sustainable their supported projects and companies are. This includes defining relevant indicators, setting clear evaluation criteria and building internal skills to assess environmental risks and opportunities.
• Leading in circular economy and biodiversity: As the coordinator of the Navarra Zirkular regional hub supporting companies, SODENA will get specialised support to refine its services. This includes tools to assess circular business models and criteria for biodiversity impact. Special focus will be on water resilience and restoration of natural areas.
• Engaging stakeholders through communication: A targeted communication strategy will ensure that investors, portfolio companies, and local stakeholders understand and engage with SODENA’s enhanced sustainability practices.

Building Capacity for Long-Term Impact

This project is more than an internal strategy update; it’s a model for how regional development can embrace and drive green transition. 

With Green Assist’s advisory support, SODENA is making a decisive move to increase its leadership as a reference in sustainable finance, including the environmental approach to the sustainable business development, and circular economy leadership in Spain and beyond, while fulfilling its mission to make Navarre’s economy greener, more resilient, and future-ready.