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Welcome to the CSR news for the week of June 24 to 28.
On the program: an analysis of the CSR positions of the main parties for the parliamentary elections, a significant rise in shareholder commitment to sustainable initiatives, and an alarming report on the impact of climate change on rugby. Oval ball fans may be disappointed...
We'll also look at improving gender equality in the workplace, managing eco-anxiety in the workplace, and advances in solidarity finance in France.
Find out all about the week's CSR news in this article.
CSR and legislative elections: who says what?
The media outlet Carenews has published an article comparing the 4 programs of the major political forces contesting the parliamentary elections. When it comes to CSR in its narrowest sense, only the Nouveau Front Populaire and Ensemble position themselves in their programs:
- NFP: Condition business aid on compliance with social, environmental and anti-discrimination criteria. Also, the introduction of quotas for subcontractors from VSE/SMEs and local craftsmen. Finally, reserve one-third of Board seats for employees.
- Together: A 3-month "better compensated" birth leave for both parents is planned. In addition, testing practices will be extended to combat discrimination in hiring. Finally, a 4-day working week for employees unable to telework.
Shareholder commitment to CSR on the rise
Diligent Market Intelligence reports that shareholder support for corporate social and environmental initiatives in Europe is three times higher than in the past. This trend is likely to be strongly influenced by regulatory innovations such as the CSRD.
In 2021, shareholder support for proposals to publish CSR performance data averaged 6.2%. By 2024, this figure had risen to almost 18%. Institutional investors appear to be exerting significant pressure on companies to comply with new social and environmental requirements.
Last but not least, shareholders play an important role in these negotiations through their say on pay, by making their income contingent on the company's CSR performance.
Is climate change a threat to rugby?
The international organization World Rugby has published a report that examines the effects of a rise in global temperatures on sporting practices. It aims to anticipate the occurrence of extreme weather events "on sport, its athletes, spectators, infrastructure and pitches".
According to their hypothesis of a +2°C world, 60% of the countries studied would experience heatwaves that would make it impossible to play rugby for at least 10 days each year. In addition, 1 in 10 major stadiums would be at "risk of flooding".
This study enables us to take a fresh look at climate change from a general, ecological and economic perspective, by using sport to raise awareness of the constraints that climate change would place on the practice of sport.
How can we improve gender equality in the workplace?
While the law must protect women from injustice, certain behaviors and bad habits perpetuate a sexist atmosphere in the workplace. Here are a few recommendations for overcoming this situation:
- Recruiting women to positions of responsibility: the pay gap between men and women remains 24%. This is due to the glass ceiling that keeps women in positions of lesser responsibility.
- Recognize that egalitarian policies promote growth, whether in terms of the performance of fulfilled female workers or an inclusive work environment.
- Combating gender-based violence
- Combating women's self-censorship: through coaching, training and equal recognition for all, it's possible to put an end to a culture of self-censorship.
Eco-anxiety: a business problem?
According to UNEDIC, 85% of working people are worried about the world's climatic and environmental future. Of these, 5% suffer from a "chronic fear of environmental catastrophe", which can lead to "psychological distress" ( Confluence Sciences et humanités magazine).
The consequences of such anxiety are not without their effects on the workplace. Feelings of fatigue, of not doing enough, isolation... these are all factors that can lead to professional disengagement, or even burn-out. What's more, eco-anxiety can create a dissonance between employees' personal convictions and their professional obligations.
Psychosocial risks are the responsibility of the company, and eco-anxiety clearly falls into this category. The company must ensure that it identifies and supports employees suffering from this malaise, which often originates at work.
In France, solidarity finance is gaining in importance
The 22nd edition of the barometer of solidarity finance has just been published. In light of the results, the Chairman of FAIR, the collective of social impact finance players behind the initiative, asserts that sustainable finance is "still gaining ground and establishing itself firmly in the French landscape".
Last year, solidarity savings accounted for 0.5% of total French financial savings, compared with 0.45% in 2022. These investments financed 680 million euros of solidarity projects in 2023, with a majority of social impact initiatives (65%).
Solidarity finance exceeded the 30 billion euro mark in assets under management, representing growth of +15%, thanks in particular to the support of solidarity-based employee savings (2.7 billion euros).
EDHEC radicalizes its environmental commitment
The 2024-2028 strategy of France's 4th-largest business school envisages a highly ambitious trajectory of investment in climate finance. It plans to allocate 270 million euros over four years and to recruit 100 additional professors. To achieve this, EDHEC plans to welcome 12,300 students, up from the current 8,600, and increase its budget from 170 to 250 million euros.
Its stated ambition is to "radicalize" its commitment by "going beyond" the concept of CSR. It is investing in a research center, the Centre for Net Positive Business, which aims to explore the notion of the positive impact of business.
Last but not least, the school is redesigning its curriculum, with 20% of tuition devoted to "responsible project workshops".
Fossil gas still on the agenda for Europe's major utilities
Beyond Fossil Fuels, a coalition of associations, has analyzed the transition plans of five major European electricity producers. They found that, despite their commitment to renewables, they have no short-term plans to stop investing in fossil fuels.
However, the IPCC and the International Energy Agency (IEA) recommend 2035 as the date to stop producing electricity from fossil fuels.
For example, France's Engie plans to double its investment in renewable energies, from 42 GW in 2023 to 80 GW in 2030. However, 2026 will see between 1 and 2 billion euros invested "in new gas-fired power plants".
Denmark to tax farmers' emissions
Denmark plans to introduce a tax on farm CO2 emissions by 2030. This carbon tax on livestock farming is the result of a compromise between the government and the social partners.
The text envisages taxing each tonne of CO2 at 300 Danish kroner (€40) from 2030, then 750 kroner (€100) from 2035. However, a 60% tax exemption mechanism reduces the real cost to 120 (€16) then 300 kroner (€40) in 2035. In addition, farmers who have invested in emission-reducing technologies will be exempt from the tax.
Political representatives are mostly mixed, divided between those who find the agreement too timid and others who see it as a decision likely to drive up prices and threaten jobs.
Deforestation: major companies lag behind...
A recent report by the Carbon Disclosure Project (CDP ) reveals that two-thirds of the 1,152 large companies surveyed "fail to back up their claims" with precise deforestation measurements. Worse still, of the 900 that operate in a sector directly threatening forests, only 50% report clearly and credibly on their influence on deforestation.
Despite their commitment to eliminate deforestation from their value chain by 2025, "the majority of companies are still far from being on the road" to deforestation-free operations, warns Tomasz Sawicki, head of land use issues at CDP.
The report calls for an acceleration of good reporting practices to promote supply chain traceability.
The sources
Carenews "Early parliamentary elections: the CSR and ecological programs 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 cope?"
L'étudiant EducPro "Edhec confirms its investment in climate finance and expands its campuses".
Le Monde "Denmark, the first country in the world to tax CO2 emissions from farms"
Novethic "Large companies still a long way off the mark when it comes to fighting deforestation".
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