The largest oil Producer (DCOOP) in Spain and the well-known fruit producer LA PALMA are aligned with the AgriCoopValue project. Both cooperatives, DCOOP and LA PALMA, have applied the Social Accounting to show that they generate more than 1.4M€ and 270K€ respectively of social value for their stakeholders.
DCOOP (https://www.dcoop.es/) is the largest world oil producer and it is the largest Spanish
Agrifood cooperative with productions that are around 220,000 tons. LA PALMA is a cooperative recognized for their innovative, first-class production of fruit. Both cooperatives have implemented Social Accounting this year under the collaboration with GEAccounting (LKSNext, Deusto University, Loyola University of Andalusia), and aligned with the AgriCoopValue project (https://agricoopvalue.eu/).”
“It is a big change for Agrifood cooperatives because using the Social Accounting it is shown that the economy can be put at the service of people, and not vice versa. It is possible thanks to the Social Accounting and its process read in a different form the classical financial statements, but also to include all relevant values created and positively value by their stakeholders” explains Alfonso Etxanobe from LKSNext and member of GEAccounting.
In addition to producing quality and insurance foods, they generate employment; they set the population in the rural environment and ensure their sustainable development. Setting values that are intangible that Agrifood cooperatives have been contributing to society, but that they can also be monetized, that is, translated into economic terms.
Social accounting is, therefore, as an extension of economic-financial accounting that “identifies the value generated by the cooperatives that is transferred to third parties (stakeholders); whether workers, clients, testers, consumers, administration, offices… society in general” explains José Luis Retolaza one of the authors of the methodology used to calculate the social value contributed.
The model (MONETIZED SOCIAL ACCOUNTING) that include a methodology (SPOLY) helps understanding what it is the whole value generated by Agrifood companies. It is not only about economical transfer, but also about many more activities, actions, reduction of cost valued by stakeholders and measured in money. It is a challenge, not easy, but gratify to show the Society how important is all those actions for stakeholders and society. “The purpose of Agrifood Company is not limited to economical transfer, that it is a means not an end; therefore, this model provides sustainable competitiveness to Agrifood sector”, says Leire San-Jose, one of the authors of Social Accounting.
It is easy to understand that it is one of the opportunities for Agrifood companies to being competitive not only on economic activity, but also on the value generated to the society, then a sustainability aspect.