Bringing Ethics to the Core of Business: Insights from the IE-Elecnor Knowledge Hub
The IE-Elecnor Knowledge Hub on Ethical Business—an initiative by Fundación IE and Fundación Elecnor—has transitioned into a renewed phase with greater strategic focus. Originally launched in 2019 as the Observatory on Sustainable Compliance Cultures, the project spent several years focused on advancing sustainable compliance practices, particularly in small and medium-sized enterprises. Today, it evolves naturally into a broader and more ambitious platform: one that brings ethics to the center of business transformation.
A key milestone in this new chapter is the incorporation of EY as a strategic partner. The addition of a global leader in professional services strengthens the Hub’s ambition to generate insights that are both rigorous and actionable, addressing the ethical and governance challenges faced by companies today.
To mark this evolution, IE Foundation, Fundación Elecnor, and EY co-hosted the forum “The Impact of Regulation on Business Ethics”, in collaboration with EXPANSIÓN. The event gathered senior voices from business, law, and academia to discuss Europe’s expanding ESG regulatory framework, from the CSRD and CSDDD to climate legislation and whistleblower directives. Discussions emphasized that regulation alone is not enough: business ethics must be embedded across strategy, leadership, and supply chains. The forum ultimately reframed ESG not as a compliance obligation, but as a strategic lever for innovation, trust, and long-term resilience.
New Report: Purpose, Profit, and ESG Strategy
Led by IE Professor Martina Pasquini, the research explores how the design and implementation of ESG strategies influence financial and reputational performance.
The findings reveal that ESG initiatives deliver greater value when they are aligned with multiple Sustainable Development Goals and fully integrated into business strategy, rather than treated as isolated or symbolic actions. Corporate governance emerged as a critical driver of growth, brand trust, and intangible value. Similarly, innovation in sustainable and socially impactful products helps build deeper connections with customers, especially when ESG commitments are clearly communicated.
The report was presented during a high-level event that featured Rafael Martín de Bustamante, CEO of Elecnor, and Federico Linares, President of EY Spain. Both highlighted the need for a renewed business narrative—one that places ethics, transparency, and value creation at the heart of long-term prosperity.
Ongoing Dialogues on Ethics
The Hub’s work extends beyond corporate boardrooms, actively engaging with the IE University student community. This spring, it partnered with the IE Technology & Innovation Club, the Governance of Change Club, and the International Relations Society to co-host a timely event exploring Big Tech’s growing influence on global power dynamics. The session featured Gregorio Bustos, CEO and Founder of LINK Advisory and Adjunct Professor of International Finance at IE University; François Delerue, Assistant Professor of Law at IE University; and was moderated by Enrique Aznar, Director of the IE-Elecnor Knowledge Hub on Ethical Business. Together, they explored questions around platform regulation, digital sovereignty, and corporate accountability.
As it enters this new stage, the IE-Elecnor Knowledge Hub on Ethical Business stands as a strategic platform for shaping the future of responsible business. By combining applied research, executive dialogue, and student engagement, it contributes to building a culture of integrity that cuts across sectors and generations.
With the continued support of Fundación Elecnor, and EY, the Hub reaffirms its purpose: to ensure that ethics is not just a principle discussed in theory, but a practice embedded in leadership and value creation.