Welcome to the CSR news for the week of June 24 to 28.
On the agenda, an analysis of the CSR positions of the main parties for the parliamentary elections, a significant increase in shareholder commitment to sustainable initiatives, and an alarming report on the impact of climate change on rugby. Lovers of oval balloons may be disappointed...
We will also discuss the improvement of gender equality in business, the management of eco-anxiety at work, and the progress of solidarity finance in France.
Discover all of the week's CSR news in this article.
CSR and legislative elections: who says what?
The media Carenews has published an article that compares the 4 programs of the major political forces running for the legislative elections. With regard to CSR in its narrowest sense, only the New Popular Front and Ensemble position themselves in their programs:
- NFP: Conditioning of aid to businesses to compliance with social, environmental and anti-discrimination criteria. Also, the establishment of quotas for subcontractors from VSEs/SMEs and local artisans. Finally, reserve a third of the board seats for employees.
- Together: A birth leave for both parents of 3 months “better compensated” is planned. In addition, generalize testing practices to combat discrimination in hiring. Finally, an experiment with a 4-day week for employees who are unable to telework.
Shareholders' CSR commitment on the rise
Diligent Market Intelligence reports that shareholders support the social and environmental initiatives of companies in Europe three times more than before. A trend that is assumed to be strongly influenced by regulatory innovations such as CSRD.
In 2021, proposals encouraging the publication of CSR performance data were supported by an average of 6.2% by shareholders. By 2024, this figure rises to almost 18%. Institutional investors seem to be putting significant pressure on businesses to comply with new social and environmental requirements.
Finally, shareholders weigh in these negotiations through their margin of decision in the remuneration of directors (”Say on pay”), by conditioning their income on the company's CSR performance.
Is climate change a threat to rugby?
The international organization World Rugby has published a report that questions the effects of a rise in global temperature on sports practices. It aims to anticipate the occurrence of extreme climate events “on sport, its athletes, its spectators, its infrastructures and its fields”.
According to their hypothesis of a world at +2°C, 60% of the countries studied would experience heatwaves that would prevent playing rugby for at least 10 days each year. But also, 1 major stadium out of 10 would be exposed to “risks of submersion”.
This study makes it possible to renew our general, ecological and economic outlook on climate change, by raising awareness through sport of the constraints that disruption would impose on its practice.
How to improve respect for gender equality in business?
While the law must protect women from injustice, certain behaviors and bad habits perpetuate a sexist environment in business. Here are some recommendations to overcome this situation:
- Recruiting women to positions of responsibility: the pay difference remains 24% between men and women. The reason is the glass ceiling, which persists in keeping them in positions of lower responsibility.
- Recognize that egalitarian policies promote growth, whether in terms of the performance of successful women workers or an inclusive work environment.
- Combating gender-based violence
- Combating women's self-censorship: through coaching, training and the equal appreciation of all, it is possible to put an end to a culture of self-censorship.
Is eco-anxiety a problem for businesses?
According to UNEDIC, 85% of working people are worried about the climate and environmental future of the world. Among them, 5% would face a “chronic fear of environmental disaster”, likely to develop into “psychological distress” (review Confluence Science and Humanities).
The consequences of such anxiety are not without effects on corporate work. Feeling tired, feeling of not doing enough, isolation... all factors that promote professional disengagement, or even burn-out. In addition, eco-anxiety can generate a dissonance between personal beliefs and the professional obligations of employees.
Psychosocial risks are the responsibility of the company, and eco-anxiety clearly falls into this category. The company must make sure to identify and support employees who are plagued by this discomfort, which is often of professional origin.
In France, solidarity finance is gaining in importance
The 22nd edition of the solidarity finance barometer has just been published. In light of the results, the president of FAIR, the collective of social impact finance actors behind the initiative, affirms that sustainable finance “is gaining further ground and establishing a lasting presence in the French landscape”
Last year, solidarity savings reached 0.5% of the total financial savings of French people, compared to 0.45% in 2022. These investments financed 680 million euros in solidarity projects in 2023, with a majority of social impact initiatives (65%).
Thus, solidarity finance has exceeded the threshold of 30 billion euros in assets, i.e. a growth of +15%, in particular thanks to the support of solidarity employee savings (2.7 billion euros).
EDHEC is radicalising its environmental commitment
The 2024-2028 strategy of the 4th French business school envisions a very ambitious investment trajectory in climate finance. It plans to allocate 270 million euros over four years and to recruit 100 additional professors. To do this, EDHEC intends to welcome 12,300 students, compared to 8,600 today, from a budget of 170 to 250 million euros.
Its stated ambition is to “radicalize” its commitment by “going beyond” the concept of CSR. It invests in a research center, the Center for Net Positive Business, which aims to think about the concept of positive business impact.
Finally, the school is redesigning its educational path in favor of 20% of schooling occupied by “responsible project workshops”.
Fossil gas is still on the agenda of major European electricians
Beyond Fossil Fuels, a coalition of associations, analyzed the transition plans of five major European electricity producers. They note that despite their commitment to renewables, they do not plan to stop investing in fossil fuels in the short term.
However, the IPCC and the International Energy Agency (IEA) recommend the date of 2035 to stop producing electricity from fossil materials.
For example, the French company Engie plans to double its investment in renewable energy, from 42 GW in 2023 to 80 GW in 2030. However, the year 2026 will see between 1 and 2 billion euros invested “in new gas-fired thermal power plants”.
Denmark to tax farmers' emissions
Denmark plans to establish a tax on CO2 emissions from farms for 2030. This carbon tax on livestock is the result of a compromise between the government and the social partners.
The text provides for a tax of 300 Danish kroner (€40) per ton of CO2 from 2030, then 750 crowns (€100) from 2035. But, a 60% tax exemption mechanism reduces the real cost to 120 (€16) and then 300 crowns (€40) in 2035. In addition, farmers who have invested in technologies that reduce their emissions will be exempt from this tax.
The political representatives are mostly mixed, divided between those who find the agreement too timid and others who see it as a decision likely to increase prices and threaten jobs.
Deforestation: big companies lagging behind...
A recent report by Carbon Disclosure Project (CDP) reveals that two-thirds of the large companies among the 1,152 surveyed “cannot support their claims” with accurate deforestation measures. Worse still, of the 900 who operate in a sector that directly threatens forests, only 50% report clearly and reliably on their influence on deforestation.
However, committed to eliminating it from their value chain by 2025, “the majority of businesses are still far from being on track” of an activity without deforestation, warns Tomasz Sawicki, responsible for land use issues at CDP.
The report calls for an acceleration of good reporting practices in order to promote the traceability of supply chains.
The sources
Carenews “Early legislative elections: the CSR and ecology program of the various parties”
Novethic “Will we still be able to play rugby in a +2°C world?”
Carenews “7 solutions to enforce gender equality in your company”
Youmatter “Eco-anxiety at work: how to deal with it?”
The EducPro student: “Edhec confirms its investments in climate finance and develops its campuses”
Le Monde “Denmark, the first country in the world to tax CO2 emissions from farms”
Novethic “Large companies still far behind in the fight against deforestation”
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