Eolo becomes a benefit corporation, not just profit but general benefit

The die is cast. And sooner or later, this was to be expected of Luca Spada, the President and founder of Eolo, who has called his company a happy factory, inside and out. He is able to look after the wellbeing of his workers and, at the same time, that of the communities he operates in. Thus, Eolo, Italy’s leading provider of connectivity using FWA technology, which today reaches more than 6500 communities, is changing its legal status and becoming a benefit corporation.

The legal status of a benefit corporation, which was introduced in Italy in 2016, identifies companies that, in addition to profit, pursue specific aims of general benefit.  Eolo formally includes its stakeholders in its business model and sets itself concrete and measurable sustainability goals, which are now included in its statute (or corporate purpose). Thus, the company has confirmed the commitment it has been pursuing for over 15 years, to the communities, the territory and all of its stakeholders. This result has been achieved with the support of Nativa, Regenerative Innovation Company, which is supporting Eolo in its evolution towards becoming more and more sustainable.

BRINGING THE INTERNET TO PLACES WHERE OTHERS DO NOT GO

“Since it was founded, Eolo has had an inclusive mission and the goal of generating a positive impact on the territories it operates in. Our mission was, and still is, to bring the internet to places that others don’t go, enabling parts of the country that are disadvantaged because they are difficult to get to or because they have a low population density. This statutory change is the natural evolution of our commitment, the formalisation of what we do every day on the ground, and of what we can still do to support an increasingly digital and inclusive Italy, which guarantees the right to connectivity for everyone, regardless of the mountain features of the territory they were born in,” said Luca Spada.

As a benefit corporation, Eolo pursues, and will continue to pursue in the future, some specific goals that generally benefit society and the environment and have a positive impact on them: the promotion of broad access to online and digital services as a fundamental instrument of social inclusion, the promotion of the universal right to internet connection, and education on a correct and constructive use of those services for any citizen.

THE SOCIAL WELLBEING OF THE TERRITORIES

Support is provided for the prosperity of the economic system and for the social wellbeing in several territories, with particular attention to disadvantaged geographical areas, which are more difficult to reach and are at risk of depopulation, by increasing the connectivity and access to online and digital services. There is the search for and continuous development of synergies with the authorities and other territorial bodies at various levels, in order to reduce the digital divide in Italy, and to contribute with expertise and solutions for connectivity and digitisation, paying particular attention to emergency situations.

“Over the years, we’ve grown and built a lot. Today, we reach over 6500 communities, and with the Progetto Manifesto, our goal is to accomplish full internet coverage in Italy by the end of 2021. We’ve never forgotten our mission, which we established in order to respond to a real need: the right to be connected, as broadly and inclusively as possible. This need continues to evolve along with the ever-changing demands of communities, which have emerged unmistakably during the pandemic, and which we have responded to over the years with our projects to fight the depopulation of small municipalities, or our support to communities that have had to adopt smart working and distance learning in order to live with the pandemic,” Spada concluded. “Today, we are happy. Happy with our journey and what we’ve done, happy to have been born and raised in Italy, happy to confirm our commitment to helping the country grow, to enriching the territories and supporting the citizens. Whatever the future may hold, we at Eolo will try to plan it with all of the communities we operate in, and we’ll be there with them, to face it together.”

EOLO IS INNOVATION

Eric Ezechieli, the co-founder of Nativa, a regenerative innovation company, said, “Innovation has always been in Eolo’s DNA. In this case too, by becoming a benefit corporation, Eolo has chosen to be one step ahead. The future belongs to those who are able to include people and the environment in their business models and we’re certain that this concrete example will inspire many others to evolve in the same direction.”

Today, thanks to its network of more than 3000 BTS, Eolo connects more than 1.2 million people, including consumer customers, businesses and public administration organisations, and employs about 15,000 people, including installers, commercial partners and collaborators. Eolo’s commitment to sustainability and to ESG is also described in a dedicated section on the corporate website: https://www.eolo.it/page/eolo-sostenibilita/

 

Luca Spada: “Sono felice come la mia impresa”

 

Tranlsated by Chiara Brovelli, Giorgia Perinelli and Micol Viviani

Reviewed by Prof. Rolf Cook