International CSR: big companies and sustainable development... towards a marriage of reason?

The U.S. Business Roundtable lobby, which brings together 181 directors of major U.S. companies (Amazon, Apple, Coca Cola, IBM, Walmart,...) has just released a statement proposing a new definition of the mission of the U.S. company, questioning the shareholder's supremacy.

In this new paradigm, the American society of the 21st century must now provide value to all its stakeholders:

• by meeting the expectations of consumers on corporate social, ethical and environmental responsibility;
• by investing in meeting the needs of Employees (decent salary, training, inclusion, respect and dignity);
• processing suppliers ethically and fairly;
• supporting communities who work around the company;
• protectingenvironment;
• and generating long-term value for shareholders.

Integrating societal values into business models It is essential to deal with the profound changes that are currently taking place in the world: increasing inequalities, climate change, increasing ethical demands of citizens and investors, etc.

It appears to be the best solution to achieve a shared prosperity between companies and society, with a common good objective.

Large European companies are not left behind on this subject At the beginning of August, at the initiative of CSR Europe, 200 executives of large companies (Total, Sodexo, Engie,...) called on their peers to commit, by 2030, a joint strategy for a « Sustainable Europe », guided by UN Sustainable Development Goals.

They want to put pressure on the new Presidents of the Commission, the Council and the European Parliament, for more effective collaboration between politics, civil society and business to fight climate change urgently and promote more inclusive growth.

Again, Social engagement must be placed at the heart of European business strategy, in order to ensure their sustainable performance and thus contribute to a stronger and more inclusive European society.

At the national level, it should be recalled that in May France just promulgated the PACTE Act (Action Plan for Enterprise Growth and Transformation)which provides, inter alia, for the introduction into law (Civil Code and Commercial Code) of the concept of the social interest of the enterprise, and opens the possibility for companies which so wish to adopt a « raison d'être » in their statutes, in order to strengthen the consideration of social and environmental issues in their strategies and activities.