This week, in CSR news, we explore recent economic and social initiatives that show how businesses and governments are trying to respond to environmental and social challenges.
Between the commitment to gender equality and the impact of the economy on the environment, the topics discussed reveal tensions and possible solutions to current challenges.
Discover how these actions shape our society and why they are at the heart of concerns today.
Top leaders commit to gender equality in business
In a forum that they give to Echoes, major business leaders are committed to better valuing women in positions of responsibility, with the current situation still being “far from reaching acceptable levels”.
These managers of SNCF, Sodexo and Crédit Mutuel Arkéa declare that they are “personally” committed to implementing more ambitious policies to include women in positions of power in the company.
Their approach aims at work-life balance, for which the mental burden that generally weighs on women generates gender inequalities in the “concrete material conditions” of professional success. The challenge is to accelerate the change in mentalities so that the perception of this mostly female burden is no longer an obstacle in their careers.
Two French people at the top of a CSR performance ranking
La World Benchmark Alliance (WBA) has updated its ranking of 800 businesses based on their impact on nature. In first and fifth place respectively are the luxury group Kering and the multinational food company Danone.
The sustainability indicators used to establish this ranking focus on the performance of companies in terms of biodiversity, but also on social and governance practices. The WBA is sorry for a “poor overall performance” companies studied.
This delay is largely due to the lack of consideration of the impact of companies on nature within departments, since among those in the ranking only 5% “have carried out an assessment of the impact of their activities on nature”.
A correlation between forced marriages and climate change?
In Pakistan, Le Monde notes that families severely affected by extreme weather events are hastening the forced marriage of their daughters in order to obtain a dowry to cope with disasters. Often “very young”, they suffer the full brunt of a situation of great inequality between the sexes.
The monsoons are getting stronger and more intense, causing floods that destroy crops. Pakistanis call these young women who are forced to marry “monsoon wives” for the economic rewards that this implies.
According to a study, following major floods, “the marriage rate of girls aged 15 to 19 increased from 10.7% to 16%” between 2010 and 2011, for example.
Unlimited air travel: the anti-sobriety subscription
The airline Wizz Air has sold its 10,000 subscriptions, which offer €599 per year to travel unlimited and at the last minute between Europe, Asia and certain Gulf countries. A proposal that has aroused the outrage and criticism of many environmental associations and NGOs.
While low-cost airlines are already considerably increasing CO2 emissions from the aviation sector, with more than 20 million tons emitted in 2023, this approach is as questionable as it is worrying.
The Hungarian company Wizz Air defends itself and replies that precisely, this approach aims to maximize the occupancy rate of its planes, which would have the effect of “reducing the intensity of emissions”. An argument that seems to omit the fact that tickets sold at the last minute tend to generate new needs “among people who did not plan to take a plane”.
Green employee savings soon?
By a decree of July 5, French employees will soon be able to use their business savings plan to benefit the ecological transition. These funds come from incentive bonuses, participation or recent value sharing bonuses (PVV).
Unlocking these savings will now be possible for the purchase of “clean” vehicles, from cars to electric bikes. In addition, the energy renovation of homes is also affected by this extension of the savings plan undertaken.
This approach aims to deepen the ambitions of better sharing value in the company. And, we note its strong incentive power since the French Financial Management Association (AFG) estimates the outstanding amount of employee savings at nearly 188 billion euros, of which more than 12 million workers would benefit.
Requests for advance payments on the rise sharply
While the month of September generally rhymes with large expenses, the impact company Rosaly reveals in a study that 37% of employees “plan to ask for a salary deposit” in order to resist the additional costs of the new school year.
The deposit is different from the advance on salary in that it concerns the hours already worked. This practice increased by 7% in September compared to June this year.
Employers are required by the right to respond positively to these requests, considering that the amount paid is in principle due to the employee, as the hours have already been worked. While the increase in this practice reflects a weakening of the financial situation of some households, it is also an opportunity for the employer to improve its social impact by providing appropriate support to its most precarious employees.
Higher borrowing rates for big polluters
A study by the European Central Bank (ECB) reveals that the companies that emit the most GHGs pay on average a higher bank loan rate of 0.14 percentage points more than the greenest companies.
Even more importantly, companies that show realistic approaches to reducing their carbon impact have access to more advantageous rates than others.
This reflects a transformation in financial analysis practices, which consider the failure of companies to take sustainability issues into account as an additional risk. In other words, CSR reassures investors.
However, the most recent green innovations still sometimes suffer from a lack of confidence from banks who prefer brown technologies, which are still considered less risky than new low-carbon technologies.
South Korea considers climate to be a constitutional obligation
The government of South Korea has been legally recognized as obligated to plan a path to reduce its greenhouse gas emissions by the country's Constitutional Court. Based on the rights of future generations, this decision requires the adoption of binding and ambitious measures for the period 2031 - 2049.
After 4 years of legal battle, this marks a major advance in the South Korean legal framework. “Not having specific plans beyond 2030 transfers an excessive burden to future generations”, which was deemed unconstitutional.
This situation puts into perspective the essential role that justice in all countries of the world can play in imposing ecological and environmental policies on governments that are up to the challenges that await future generations.
Between Germany and France, which has the greenest industry?
A Think Tank study The Factory of Industry conducted a study to compare the low-carbon strategies of the two major European industrial players. While industry accounts for 21% of global European emissions, the issue is very topical.
Of the two countries, France is less efficient if we consider its Scope 1 emissions (direct emissions from companies), but its impact is less significant than Germany at the Scope 2 scale (energy consumption by companies).
French business sectors are therefore more direct emitters (metallurgy, chemicals, chemicals, cement and oil refining), but their energy mix driven by nuclear power largely offsets global emissions compared to industry across the Rhine. Indeed, the French mix is “six times less carbon-intensive” than that of its German counterpart.
Sustainable finance: transition funds go beyond simple green funds
The European Securities and Markets Authority (ESMA) reports in a recent report that investment funds dedicated to transition are now more financed than traditional green funds. Their growth is now higher, but they remain less endowed in total value.
The fundamental difference between them is that transition funds focus on businesses in transition, unlike green funds that fund sectors that are already sustainable. In other words, it makes it possible to invest under a “sustainable” label in fossil projects for example.
However, investments are mainly directed to green bonds issued by major energy companies, which “coincides with the recent recommendation by European regulators to extend the EU taxonomy to transition activities.”
The sources
Les Echos To accelerate gender diversity, the image of power must change
Le Monde In Pakistan, forced marriages on the rise in families made vulnerable by climate change
Novethic Unlimited flights with Wizz Air: an offer that goes against the tide of calls for sobriety
RSE Magazine: Requests for advance payments on the rise
Youmatter The CSR figure: +0.14 pt for loans from the most issuer companies
RSE Magazine Climate, a fundamental right: South Korean justice orders concrete actions
RSE Magazine ESG investment: transition funds win over green funds
We can help you turn CSRD into an opportunity
We'll help you understand the requirements of CSRD and integrate them seamlessly into your CSR approach.
.png)
