Last July, the government submitted for public consultation the latest revision of the National Energy and Climate Plan (PNEC 2030), a plan that defines the energy transition policy for our country until 2030.

This new version brings with it more ambitious targets for reducing greenhouse gas emissions, which now aim for a 55% reduction by 2030 (whereas the previous range was 45 to 55%). On the other hand, a new target has also been set for increasing the share of renewable energies in energy consumption, from 47% to 51%.
But are these targets feasible? What does the government propose to do to get there?

Even though the Minister for the Environment and Energy has made this a priority, highlighting the country’s potential in the field of renewable energies and the return this can bring to our country in terms of economic growth, job creation and competitiveness, are these targets real?

Our country faces some challenges, essentially linked to energy storage capacity and the connection to Europe. There’s little point in increasing the production of renewable energy if we can’t store or export it, although the government is committed to these issues, both in negotiating interconnections and in providing PRR support for investments in batteries.

The data released at the end of 2023 on installed capacity shows that in both photovoltaic solar and onshore and offshore wind, we are still far below what was expected and what would allow us to achieve the targets set. Will we be able to recover and increase installed capacity in such a way?

One of the challenges to achieving this has already been identified by the Ministry itself: licensing. The recently created Mission Structure for the Licensing of Renewable Energy Projects 2030 will play a fundamental role here, by being able to contribute (or not) to a real and practical acceleration of the licensing processes which, in the field of renewable energies, are always time-consuming and cause many investors to give up before they even begin.

There’s no doubt about the urgency of decarbonizing the national economy, nor that this path involves a lot of investment in renewable energies, but it’s also true that in Portugal we still have low levels of energy efficiency and an old-fashioned, low-quality building stock. On the other hand, we also need to look at the enormous challenges posed by a marginal wholesale market which, if it continues, could prevent future investment in renewables.

The definition of these more ambitious targets leaves the main players in the sector feeling optimistic, believing that the government may actually be willing to make the much-needed commitment in this area. We all have to make it happen!

Opinion article by Miguel Subtil – Managing Director, published in Ambiente Magazine, August 08, 2024.

For a greener, more decarbonized world, Átomo Capital Partners develops projects for major investors or renewable energy producers in Portugal.

In the case of small and medium-sized enterprises (SMEs), despite the initial investment, “by generating their own energy through self-consumption systems, SMEs can drastically reduce their energy costs, thus reducing their dependence on the conventional electricity grid,” says José Campos e Sousa, Business Development at Átomo Capital Partners, in an interview with PME Magazine.

PME Magazine (PME Mag.) – How did Átomo Capital Partners come about and how does it work?

José Campos e Sousa (J. C. S.) – Átomo Capital Partners arose from the desire to participate actively in the energy sector, especially at a time when there has been a significant revolution in the energy paradigm. The starting point for Átomo materialized with the perception of the great opportunities generated by the first solar auctions in 2019, and the team began to get involved at an earlier stage of preparation and anticipation of these competitive procedures.

Auctions have not only opened the door to new players, they have also contributed, in a way, to the democratization of the sector, attracting the interest of a wider range of entities, in addition to the large utilities that have historically dominated the market. In this context, Átomo’s purpose and ambition is to assist international investors and Independent Power Producers (IPP) in the integrated development of these projects, offering, with a view to one stop shop, knowledge and know-how of a multidisciplinary team with many years of experience in developing large-scale projects.

Átomo has consolidated its position as a valuable partner, playing a significant role as a developer of not only large-scale projects (solar, wind, hydrogen and batteries), but also in the field of self-consumption. In this field, our approach is based on applying our vast experience in developing energy production projects to meet the specific needs of commercial and industrial consumers, recognizing the significant potential for optimizing energy efficiency, reducing costs, increasing the competitiveness of companies and contributing to the decarbonization of the economy.

PME Mag. – What are the advantages and benefits of solar self-consumption for SMEs?

J. C. S. – By generating their own energy through self-consumption systems, SMEs can drastically reduce their energy costs, thus reducing their dependence on the conventional electricity grid. Although the initial investment in these systems may seem high, it actually translates into significant savings in the long term. With short payback periods and an average useful life of between 25 and 30 years, self-consumption plants offer an additional advantage related to predictability and cost stability. This allows SMEs to have a clearer and more consistent view of their long-term energy costs, making them less susceptible to fluctuations in fossil fuel prices and electricity tariffs.

For companies that do not have the capacity to make the initial investment, or that choose not to do so for strategic reasons, Átomo offers self-consumption solutions without the need for investment on the part of customers. We develop and supply self-consumption plants under the PPA (Power Purchase Agreement) modality, where a price per kWh is agreed that is indexed to the actual consumption of energy from the plant. This provides a viable alternative for companies wishing to take advantage of the benefits of solar self-consumption without compromising their financial resources.

In addition to the obvious economic benefits, there is a strong reputational dimension at play. Incorporating solar energy solutions demonstrates a commitment to sustainability and environmental responsibility, which can represent a significant competitive advantage in a market that is increasingly aware of these issues. This can lead to an enhancement of the brand and corporate image of companies, helping to improve their reputation with suppliers and customers.

PME Mag. – Are there any financial and tax benefits to promote the implementation of renewable energies by SMEs?

J. C. S. – The Portuguese government has played an important role in promoting the energy transition and the decarbonization of industry, especially through programas como o Plano de Recuperação e Resiliência (PRR). In recent years, subsidies and grants have been made available specifically for small and medium-sized enterprises, with the aim of encouraging more sustainable investments and projects that will increase the competitiveness of the business fabric.

Currently, although there are no open procedures and little visibility on the imminent launch of new calls, it is important to stress that government support will remain vital to boost the decarbonization of the business sector.

As for financial incentives, several financial institutions have made loans available at more favorable interest rates for investments considered sustainable. These loans offer SMEs the opportunity to invest in renewable energy, energy efficiency and other sustainable initiatives, with more accessible and advantageous financial conditions.

It is essential that companies are aware of the funding and support opportunities available, even if there is no imminent launch of new programs. Keeping abreast of government policies and staying in touch with financial institutions can be crucial to being able to take advantage of these opportunities when they arise.

PME Mag. – What financial return can an SME get from a self-consumption project?

J. C. S. –The financial return on a self-consumption project for an SME can vary depending on several factors, including the size of the system installed, the company’s energy consumption pattern, the initial cost of the investment and the current cost of the energy contracted with the supplier. However, self-consumption projects generally offer a very attractive financial return in the medium and long term.

In general terms, the return on a self-consumption project can be calculated based on the savings generated by reducing the company’s electricity costs. Based on the projects we have developed at Átomo, it is possible to achieve average energy bill savings of around 20% to 30%.

These savings are achieved mainly by reducing or eliminating the need to buy electricity from the grid, replacing it with electricity generated on-site. In cases where there is a surplus, it is also possible to inject it into the grid, thus obtaining additional remuneration for the energy that is not self-consumed, although this is not the main objective of this type of project. It is important to note that the financial return on a self-consumption project is not limited to direct savings in energy costs, but can also include intangible benefits such as a more sustainable and responsible corporate image, potentially resulting in greater customer loyalty and a competitive advantage in the market.

Interview by José Campos e Sousa – Business Development, published in PME Magazine, June 4, 2024.

In the past few weeks, there has been a lot of news about electricity prices and how the wholesale market works.

The truth is that April has been marked by a succession of unprecedented events in the electricity market: average wholesale prices are at multi-year lows, we’re seeing negative prices for the first time, we’re seeing producers paying to inject electricity into the grid and solar power plants stopping production.

But how can we explain all this and are these good or bad news?

Unfortunately, there is no simple answer.

The fall in wholesale prices is largely explained by the above-average production of energy from renewable sources, mainly hydro and wind. In Portugal, in the first quarter of 2024, renewable energy supplied 89 per cent of consumption, which is the highest figure since 1978 for this quarter. This helps us understand why March had the lowest average price on the wholesale electricity market in almost four years. On top of this, we started April with a new milestone: on 5 April, Mibel (the Iberian electricity market, created in 2007) recorded negative prices for the first time. What does this mean? That there were producers willing to pay to inject electricity into the grid (typically thermoelectric power stations, where the costs of stopping the production are higher than paying the negative price for a few hours to continue operating). On the other hand, on this day there was also another unprecedented event: several solar power plants stopped producing for a few hours, in order to balance excess production against existing consumption. If for many years we didn’t take advantage of solar energy because we didn’t have the means to do so, in 2024 we have excellent conditions for producing electricity from solar energy, but we have power stations shutting down because we don’t have what to do with so much production.

As a result, we are living through a defining moment in the electricity market, which is forcing us to think about the future of energy, its production and its consumption.

So what can we expect in the coming months? Most likely, as a result of the weather conditions, we will continue to see high levels of renewable energy production in April and May, so we will continue to see very low wholesale prices on the Iberian Peninsula. Even so, it is expected that in the second half of the year there will be a stabilisation, and values will rise, although lower than the 2023 average.

While these facts may represent good news for families with indexed electricity tariffs, as they will see their electricity bills reduced, it is undeniable that they also represent a change in the market paradigm, which should give us food for thought and make us look forward to what the future of the wholesale electricity market will be like at national, Iberian and European level.

Finally, it’s important to emphasise that electricity production does, of course, have a cost, and it’s far from zero.

This represents a problem that will have to be tackled with urgency and courage, as it will be difficult to find investors interested in projects with such low returns over their lifetime, that don’t repay the initial investment.

It’s a very serious issue that interests everyone, from producers to consumers, and it’s one that will be much talked about in the near future.

Opinion article by Miguel Subtil – Managing Director, published in Ambiente Magazine on 23 April 2024.

The transition to renewable energy sources is a significant milestone in the pursuit of a more sustainable energy future. However, this progress is not without challenges. The intermittency in solar and wind energy sources creates moments of excess and shortage of electricity, a problem that can be effectively addressed through the implementation of large-scale energy storage systems.

Batteries can be ‘co-located’ in solar plants and wind farms, playing a crucial role in stabilizing the electrical grid. During periods of high production, the surplus electricity, beyond the capacity to inject into the grid, is stored in these batteries. When there is availability in the grid, and production cannot meet the demand, the batteries come into action, providing supplementary power. This action is essential to ensure a continuous and stable electricity supply.

In addition to storage, ‘co-located’ batteries are multifunctional. They also have the ability to regulate the frequency of electricity flowing in the grid, providing a crucial control element for the stability of the electrical system. In adittion, they can mitigate abrupt fluctuations, ensuring a smooth transition between demand and production peaks.

On the other hand, there is also the possibility of installing large “stand-alone” equipment that can play a crucial role in the stability of the electrical system. These units are independent of generation plants but are directly connected to the electrical grid. In emergencies, such as a sudden increase in demand, the batteries come into action, providing instantaneous energy until regular production can be adjusted.

These batteries can be strategically positioned at critical points in the grid, ensuring a quick and effective response in crisis situations. This immediate response capability is essential to prevent interruptions in electricity supply and maintain grid stability.

In some countries, system services are critical components to maintain the stability and reliability of the electrical system, namely:

Frequency Regulation: This service is responsible for keeping the frequency of the electrical grid within acceptable limits. In case of fluctuations, battery operators can provide or absorb energy to stabilize the frequency.

Capacity Reserve: Involves the immediate availability of additional capacity in case of unexpected peaks in electricity demand or sudden failures in generation.

Demand Response: Involves adjusting electricity production or consumption in response to market signals or unexpected events to maintain the balance between demand and production.

Voltage Management: Ensures that the voltage in the electrical grid stays within safe limits, even in situations of variations in demand or production.

Toward an attractive and sustainable investment in batteries, it is crucial to establish a clear and effective regulatory framework. This includes defining fair tariffs for the services provided by batteries and ensuring that investors receive adequate compensation for their role in grid stability.

Looking beyond our borders, we can observe inspiring examples in other countries. Through favorable policies and financial incentives, some countries have driven the adoption of large-scale batteries.

The implementation of such systems in Portugal is feasible and can be beneficial for the national electrical system. With the increasing integration of intermittent renewable energies, such as solar and wind, the need for system services becomes increasingly important to ensure grid stability.

However, it is crucial to consider the specificities of the Portuguese electricity market and tailor the compensation model to local characteristics. This may involve consultation and collaboration between regulators, grid operators, and investors in storage and energy production solutions.

Implementing system service compensation in Portugal would not only strengthen the resilience of the electrical grid but also open up opportunities for investments in the energy storage sector, contributing to the transition to a cleaner and more sustainable electrical system.

Opinion article by Miguel Subtil, Managing Director of Átomo, published in Ambiente Magazine on November 15, 2023.

Átomo Capital Partners has moved its offices in Lisbon to the ARCIS Building on Rua Ivone Silva, close to the well-known Entrecampos train station. This new workplace fulfils a desire to significantly improve the quality of the workspace provided to its employees.

According to Miguel Subtil, Managing Director of Átomo Capital Partners, “This move was essential to keep up with the growth of the business and consequently of the team, which has almost doubled in the last year. We’re very pleased with this new workspace, and even more so for the reasons that led us to this change. May it always be like this, and now we’re even better prepared to welcome our clients, who will be able to enjoy an almost 360º view of Lisbon”.

The ARCIS building enjoys a privileged location between Campo Pequeno and Entrecampos, with many access points to various forms of public transport – train, metro and bus – bicycle and electric scooter facilities and access to the city’s main avenues.

In addition to accessibility, the range of services (gyms, laundry, supermarkets, pharmacies, shopping centres, etc.) and restaurants are also very rich and diverse, making it easier to achieve the so-called “worklife-balance”.

Contact us!

In an interview with PME Magazine, Miguel Subtil, the managing director of ÁTOMO Capital Partners, discusses the projects the company has implemented and how they can help SMEs in Portugal.

PME Magazine – What was the objective behind creating ÁTOMO Capital Partners?

Miguel Subtil – It was created with the aim of actively participating in the energy transition and sustainable development process. Companies must have a purpose, a design. We believe there doesn’t have to be a trade-off between having a positive societal impact versus financial return. The biggest challenge we face as a global community is understanding how we can continue to improve our living conditions on a planet with finite resources, a quickly growing global population, and a climate emergency. Our purpose and mission were clear, which we materialize into four business areas – Utility Scale (large energy production projects), Energy as a Service (dedicated to self-consumption and energy communities), Electric Mobility and Real Estate Sustainability.

PME Magazine – What projects have you implemented and what investments have you made in the renewable energy and sustainability sector?

M.S. – The major renewable energy production projects (Utility Scale) that we have developed with investors and independent power producers (IPP) are the most representative because of their size. This area continues to be the most significant in our business volume, primarily because it was the first we started, even before the first solar auctions in 2019, and which subsequently saw significant development. We act as developers of these major projects (solar, wind, hybrid, and hydrogen), integrating all necessary services up to the ‘ready to build’ (RtB) phase, dealing and negotiating with all necessary entities, and obtaining all licenses.

On the other hand, this market is currently in a phase where opportunities for grid access are scarcer, enhancing M&A operations. We have also been sought after to support these processes, especially with DD Technical, Environmental, and Licensing. Besides, we are very committed to the self-consumption and energy communities sector. It is essential that decentralized electricity production becomes widespread, even without investment from customers, which can be our responsibility. Maximizing solar potential near consumption points, with very competitive tariff values, and significant gains for our clients contributes to the electrification of the economy but also to the increased competitiveness of Portuguese companies.

PME Magazine – Why also bet on electric mobility and new technologies?

M.S. – In the field of electric mobility, we are launching the operation. We are charging station operators (OPC) and are in a phase where we are witnessing a rapid adoption phenomenon of electric vehicles by the population. Estimates vary, but it is predicted that, on average, in Portugal, about 30-40% of the new vehicles registered in 2030 will be electric. This is a massive revolution. We completely change the way we use our vehicles and how we equip them with energy to move, we change our habits, and we must adapt the infrastructure to face this new reality. Many charging stations will have to be installed to accommodate this growth in electric vehicles, and public charging will play a crucial role since, with the expected massification, not everyone will be able to charge the EV at home or in the office.

We are currently negotiating with investors to quickly scale up the business and, on the other hand, with owners, real estate investors, promoters, and public entities to obtain a pipeline of locations that boost the growth we project. We are also very attentive to new technologies in the storage area. Efficient storage is essential for the stability of the electrical system, and many technologies are being tested that we are interested in deepening.

PME Magazine – How does ÁTOMO Capital Partners support SMEs in Portugal?

M.S. – This is a crucial point in our strategy, central to our purpose of contributing to the decarbonization of the economy, increasing the competitiveness of companies. Energy costs and adapting to a new energy paradigm are essential for SMEs to face future challenges more competitively. Currently, energy production using solar technology, for example, is the cheapest way to obtain the electricity needed for company operations. It’s a unique opportunity to anticipate a transition that’s here to stay and start reducing costs as soon as possible. Often, company financial management is directed towards its core business, with little availability to invest in renewable solutions, even with a financial return. In these cases, the investment can also be on us, with companies benefiting without investment costs.

What we do is design a solution according to company needs, implementing, building, and operating the plants without any investment cost for our clients, who will benefit from reduced energy costs, also contributing to the decarbonization of the economy. On the other hand, it is also possible to design energy communities by extending these benefits to other nearby companies and entities, optimizing the sizing of these systems. Átomo positions itself as a fundamental partner for increasing SME competitiveness without them having to seek support or subsidies that always delay, delaying decisions, with evident opportunity costs.

PME Magazine – What is the balance of the company’s three years of activity?

M.S. – We make a very positive balance. We have developed more than 900MW of projects, which will amount to about 600 million euros of associated investment. Clearly, the company’s ambitious and uninstalled DNA never allows us to be satisfied, not even when the objectives are widely exceeded. Things have been going very well, and the company’s positioning has been appropriate to the climate transition we are experiencing. Uncertainty always generates opportunities, but the important thing is to have the necessary knowledge to take advantage of them and make our clients and partners benefit from it. We are in a transition time, and many paradigms are changing, generating risks that many did not consider and others did not expect to incorporate. In this context, immobility seems much riskier than structuring this change appropriately. The energy and climate transition has costs, of course, but they are associated with enormous opportunities. In this sense, we always want more and will try to take good advantage of them.

PME Magazine – Is internationalization part of ÁTOMO’s future prospects?

M.S. – Yes, clearly! This is a moment of global transition, with identical challenges and opportunities in all countries. We closely follow both technological development and global regulatory changes, which, with the experience and capacity we have, put us in an excellent position in this sector in various geographies.

Interview with Miguel Subtil, published in PME Magazine on September 19th, 2023.

BREEAM In-Use certifies the level of performance of buildings in terms of their sustainability in operation, and is the result of a series of measures identified with the support of Átomo Capital Partners, a specialist in the renewable energy and sustainability sector.

In a statement, Átomo said that “the commitment of the owner represented by South to the good operational performance practices of Towers G and E is reflected in the various improvements implemented in these assets, valued within the scope of the BREEAM certification”. It highlights measures such as optimising the water efficiency of the equipment installed, modernising the air treatment units, replacing the heating boilers and converting all the lighting to LED technology.

For Átomo, “the BREEAM Very Good performance level is very commendable, especially considering the age and intensive use of the assets. The certification obtained places Towers G and E at the forefront of the capital’s office spaces, making them eligible to house companies with high corporate sustainability requirements.

“For his part, Miguel Subtil, Managing Director of Átomo Capital Partners, emphasises that “our team has technicians accredited to certify any variant of the LEED /BREEAM and WELL frameworks, which allows us to advise and suggest to our clients the certification strategies to adopt that best suit their interests. Our support is individual and highly personalised, so that we can provide the best possible response for each specific case.”

He believes that “due to the urgency of change and growing environmental concerns, it makes sense to apply sustainability benchmarks that promote more efficient asset management and operation, while also bringing benefits to owners by favouring their performance in terms of efficiency and reducing operating costs”. Commenting on this partnership, South said that “with the advice and support of Átomo Capital Partners, it has obtained the very good classification of the BREEAM In -Use International Commercial certification for its assets in the Torres de Lisboa complex – Torre G and E. BREEAM will allow Southcap to valorise its assets.

He believes that “due to the urgency of change and growing environmental concerns, it makes sense to apply sustainability benchmarks that promote more efficient management and operation of assets, also bringing benefits to owners by favouring their performance in terms of efficiency and reduction of operating costs”.

Commenting on this partnership, South said that “with the advice and support of Átomo Capital Partners, it has obtained the very good classification of the BREEAM In -Use International Commercial certification for its assets in the Torres de Lisboa complex – Torre G and E. BREEAM will enable Southcap to valorise its portfolio of assets and make them more competitive according to the best practices in sustainable building construction and operation. This partnership between Átomo and South results in a model in this area that is constantly evolving and reflects South’s growing concern to ensure sustainable management with the creation of healthier environments.”

Article published in Vida Imobiliária on 3rd August 2023

Initially, the focus was only on socially responsible investment, which aimed to avoid “objectionable” practices that exploited human or natural resources in an unacceptable way in order to make a profit. This exclusionary approach has, in fact, become one of the most widely used strategies over the years, bringing various benefits to investors and creditors.

However, today, far more than having a policy of exclusion, businesses are required to have a purpose, to act positively, to influence change, to have a positive impact.

And it seems to be a fact that companies with a purpose are more likely to succeed in the modern world. This is because as well as being financially viable, such businesses can also be socially relevant and for long periods of time, creating strong bonds of empathy and recognition with all stakeholders and not just shareholders, which positively influences the company’s bottom line for a long time. Purpose and profit are therefore not mutually exclusive variables, but are now complementary to the point where one cannot exist without the other.

According to several recent studies, a brand that has a strong purpose increases its chances of winning the trust of its customers by 3 to 4 times, promoting customer loyalty [1].
According to a Forrester survey [2], for example, more than 31% of respondents say that a company’s social reputation influences their purchasing behaviour. But that’s not all: companies with a strong purpose outperform the market average by 5% to 7% a year, grow faster and make more profits, according to another study by Harvard Business Review.

Is that so? But how? Why?

According to George Serafeim [3] purpose does matter. But it only matters if it is well implemented, with a clear, concise, top-down orientation and in such a way that the company’s middle management feels fully integrated. In his latest book “Purpose + Profit”, Serafeim details some of these concepts, which also lead him to claim that purpose and results are interdependent.
Purpose-driven companies, he says, have better results – partly because there are incredible ways of using sustainability factors as business drivers, motivating more innovation, informing decisions about products and services and also, often, because companies that care about these issues inspire employees who care and are therefore willing to dedicate themselves and work harder. The rewards for individuals are much greater when they feel proud of the contribution they make on a daily basis to a purpose they believe in.

In fact, the idea seems to be forming that corporate leadership with sustainability underpinnings is not just a new management fad, but the only way to run a successful business in the long term [4]. Corporate sustainability offers enormous opportunities and this is how it should be viewed – it reduces risk, increases brand value, increases talent attraction and retention and provides a new lens, a new way of seeing the world, promoting innovation that meets new customer needs and demands.

According to the BCSD, there will be at least USD12 trillion of opportunities available to companies that fulfil the UN SDGs by 2030, and the best evidence suggests that strong corporate sustainability performance generates better financial returns in the long term [5].

This idea of a new corporate leadership that also focuses on ESG issues is corroborated by a survey of Fortune 500 CEOs where only 7 per cent of respondents believe that their companies should “focus primarily on making profits and not be distracted by social goals” [6].

A leader, these leaders, by pushing their companies to define and live their purpose consistently, are challenging the status quo in such a way that it can be disruptive and risky for employees and even themselves.Championing this change requires courage and knowing how to lead with empathy – which, according to a McKinsey study [7], means developing a broad vision of the future that extends beyond the immediate problem, inspiring and building trust with others, finding common ground and leading by example.This new data suggests that a redefinition of leadership norms may be important as the leader strives to define and live the purpose of their organisation, which must be and prove to be coherent and appropriate to the style and actions of the leader themselves, their management team and other employees.

Paul Polman, former CEO of Unilever, is of the same opinion when he says that “the main reason for any company to exist is to fulfil the needs of customers and make their lives better”[8]. While obviously out of line with Milton Friedman’s view that a leader’s sole focus should be profit, it’s important to emphasise that many of Friedman’s assumptions have changed a lot in recent decades. And it may well be that in order to adequately remunerate shareholders, as he intended, we now have to take many issues, such as the company’s purpose, that were once considered mere distractions, seriously.Aiming for long-term, more sustainable and less volatile success will not be an easy path, especially with the voracious demand for short-term results, quarterly if possible.

Paul Polman, quoting Peter Drucker, reminds us, however, that “profit for a company is like oxygen for a person. If you don’t have enough, you’re out of the game. But if you think that the purpose of your life is to breathe, you’re missing something”.

Are we missing something?

[1] Forbes, 2023

[2] US market research company

[3] George Serafeim – Professor of Business Administration at Harvard Business School, where he leads the Climate and Sustainability Impact AI Lab.

[4] “All in: the future of business leadership”, David Grayson et al, 2018

[5] “The Impact of Corporate Sustainability on Organizational Processes and Performance”, Harvard Business School, Robert G. Eccles, Ioannis Ioannou e George Serafeim, 2016

[6] Fortune, maio de 2019

[7] Responder ao apelo da sociedade: Um novo imperativo de liderança, 2019

[8] “Net Positive: How courageous companies thrive by giving more than they take”, Paul Polman et al., 2021

Opinion Article by Miguel Subtil, Managing Diretor of Átomo Capital Partners, published in Executive Digest on 27th July 2023.

By subscribing to the Charter of Principles, Átomo Capital Partners recognises that the sustainable management of companies is a factor of competitiveness. At the same time, Átomo invites its suppliers to sign up to the Charter of Principles, thereby promoting the principles of sustainable management throughout its value chain. The company implements the Charter of Principles through Jornada 2030 – the common agenda of companies for sustainability in Portugal.

According to Miguel Subtil, Managing Director of Átomo, “Signing up to the BCDS Portugal Charter of Principles is a natural step for an organisation like Átomo. Our mission is to be disruptive and innovative in the context of an energy transition that is intended to be fast, effective and fair, advocating that profit combined with purpose leads to perhaps surprising positive results. We want to change the world, but we also have to incorporate this change internally towards a sustainable future.”

The BCSD Portugal Charter of Principles, which has already been signed by more than 170 companies, is inspired by the Universal Declaration of Human Rights, the Fundamental Principles and Rights at Work of the International Labour Organization and the United Nations Global Compact.
It also encourages the reporting of non-financial information by companies that are not yet directly covered by Decree-Law no. 89/2017 of 28 July regarding the mandatory annual disclosure of non-financial information and information on diversity by certain large companies.

More information:

Charter of Principles for download

Learn more about the Charter of Principles

About BCSD Portugal – Business Council for Sustainable Development

BCSD Portugal – Business Council for Sustainable Development brings together and represents companies that are actively committed to sustainability and is one of the national driving forces behind the transition to a low-carbon economy that values ecosystems and generates well-being in society. Through the development of inter-company projects that stimulate sustainable development, BCSD Portugal is an influential and inspiring player in new, competitive, innovative, responsible, sustainable and inclusive business models. With broad sectoral representation, BCSD Portugal has more than 130 companies that directly employ more than 270,000 people. The turnover of BCSD Portugal’s non-financial members represents more than 38 per cent of national GDP, which translates into more than 65 billion euros in turnover and a GVA of between 6 and 8 per cent of GDP.

19th June 2023