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In this news round-up, we'll be talking about the importance of social issues in business, the problem of identifying ESG data, companies lagging behind on duty of care and other CSR topics. One news item is particularly close to our hearts: Novethic is threatened with closure.
One news item is particularly close to our hearts: Novethic is threatened with closure. Novethic is the benchmark online medium for CSR issues. For 20 years, it has dealt with these issues across Europe with transparency and rigor. Annual subsidies could be suspended; to avoid this, employees are mobilizing and a petition is available online to support the medium.
What responsibility does the company have for the mental health of its employees?
According to an Ipsos survey for Axa, nearly one in four French people suffers from a mental health problem. In parallel with this figure, the French Labor Code states that companies must take "the necessary measures to ensure the safety and protect the physical and mental health of workers".
The rationale behind mental health initiatives is twofold: on the one hand, to improve employees' working conditions, and on the other, to improve the company's overall performance by reducing staff turnover and absenteeism, for example.
"If there's no sincerity in the approach, it's going to be cosmetic" Claire Le Roy-Hatala, specialist in mental health issues in the workplace.
EcoVadis strengthens its human rights reporting
Ecovadis, the CSR performance assessment company, recently acquired the Canadian start-up Ulula, which specializes in reporting on social performance, working conditions and human rights. This move sends out a clear message: the social component of CSR must be considered a strategic priority.
Future regulatory innovations are likely to place greater emphasis on respect for human rights and working conditions throughout the corporate value chain. For Ecovadis, this acquisition reflects a desire to further specialize its reporting and social performance assessment tools.
For example, the start-up Ulula, acquired by Ecovadis, used a method of directly surveying workers: an inclusive approach that promotes more democratic corporate governance.
More than a third of companies do not know how to identify their CSRD reporting data
A recent Tennaxia-Traace survey questioned 200 companies on their non-financial reporting policies. Of these, 36% were unable to locate all their CSRD data. This situation reflects the persistence of certain obstacles to action within organizations.
Indeed, if it is to be a real tool for transforming business models, the CSRD must be considered in all its incentives. However, this lack of visibility reveals the unpreparedness of some companies to take all sustainability issues into account.
What's more, "70% of companies express concerns about their data collection processes", revealing the real challenge of data governance. Data reliability and traceability will be at the heart of audits carried out to assess regulatory compliance...
20% of companies lag behind in their duty of care obligations
The associations Sherpa, CCFD-Terres solidaires and the cooperative Datactivist have published their Radar on the duty of vigilance. It reveals that 57 of the 279 companies concerned by the duty of care "have not published their plan".
However, the French "Duty of Vigilance" law requires certain companies to implement a "plan de vigilance". The latter must aim to implement measures to prevent social and environmental damage throughout the value chain of these major companies.
The associations point to the weakness of the legal system in compelling companies to act, on the one hand, and in effectively condemning them in the event of a trial, on the other. However, the gradual structuring of this legal sector should lead to greater judicial efficiency in the years to come.
Who are the champions of sustainable e-commerce in France?
AI and data consultancy Converto has published its 2024 Sustainable E-commerce Barometer. It evaluates the sustainability performance of France's 50 biggest e-commerce players. The three top performers are: Décathlon, Leroy Merlin and Darty.
At the top of the ranking, what sets Décathlon apart from other players is its circular economy model: reparability, reconditioning, upcycling, taking back used products... The French equipment manufacturer meets 86% of the criteria "in terms of taking back old products", compared with an average of 42% among the companies surveyed.
In general, circularity and reconditioning are the key trends of this barometer: "in 2024, 58% of retailers will offer second-hand or reconditioned products".
NEF, France's ethical bank, obtains accreditation
The French Autorité de contrôle prudentiel et de résolution (ACPR) and the European Central Bank (ECB) have granted NEF, a solidarity finance cooperative, approval to exist as a bank in its own right. Until now, NEF was dependent on Crédit Coopératif for its existence.
The key principles of this cooperative, which presents itself as an ethical bank, are: the financing of social and environmental projects, and a high level of transparency.
In theory, this accreditation enables NEF to offer banking services to private individuals, such as opening current accounts.
To date, "Its total outstanding savings amount to €1.07 billion, for outstanding loans of €816 million".
In France, more and more households are repairing their objects
A recent IFOP study on French repair practices reveals that repairing has been on the rise over the last 6 months, during which "two out of three French people have repaired an object or had it repaired".
The main reason analyzed is purchasing power and the desire to save money. Inflation is driving up the trend towards repairing rather than buying a new equivalent item. Remarkably, most of the French people surveyed who claim to repair their items themselves refer to the many resources available online (video tutorials).
While not the primary motivation, ecology is the secondary benefit of this trend, since any repair is a sign of the absence of waste.
Update on biodiversity credits
Based on the same offset model as carbon credits, biodiversity credits are intended to be traded by companies to compensate for damage caused to ecosystems. Not yet fully developed, their development has come in for international criticism.
In this way, ecosystem restoration and preservation projects will generate value that can be exchanged for monetary securities. The latter, in the form of biodiversity credits, can be "bought, sold or traded on a dedicated market". In this case, an offset market for businesses.
Like carbon credits, they are criticized for the risk of financializing and commodifying nature. Not to mention the difficulty of measuring the true value of an ecosystem, which is irreducible to the market and financial logic of traditional goods.
Novethic media threatened with closure
Launched online 20 years ago, Novethic specializes in sustainability issues, ecological transition and sustainable finance. The Caisse des Dépôts et Consignations, the media company's sole shareholder, has reportedly led a vote on the possible suspension of the €1.9 million annual subsidies that are essential to Novethic's survival.
The Editor-in-Chief expresses her astonishment at the financial rhetoric mobilized in recent years by their shareholder. Indeed, Novethic "was created for the general interest mission of accelerating the ecological transition".
Employees are mobilized and a petition is available online in support of the medium.
Finance bill: the impossible social transition
The French government has presented its Finance Bill (PLF2025) and its multi-year strategy for financing the energy transition. Against the backdrop of the crisis in the State's budget deficit, major budget cuts have been announced in the social sphere, risking "weighing on our ability to achieve a fair transition".
If the budget for the ecological transition seems to have increased, this is only the result of the high compensation paid to the renewable sectors as a direct consequence of the fall in electricity prices. Traditional transition policies, on the other hand, have seen real reductions in funding.
As for the SSE (social economy), it is calculating a 25% reduction in funding. And yet, the needs of the ecological transition will only increase over time: 110 billion a year by 2030.
The sources
Carenews "Companies: what are the best practices for protecting employees' mental health?"
Novethic "CSR: EcoVadis invests in human rights reporting".
Youmatter "36% of companies don't know how to locate their CSRD data"
Novethic "McDonald's, Picard, Disney... 57 French companies outside the law on duty of care"
RSE Magazine "CSR, e-commerce and sustainability: who are France's best students?"
Novethic "Pioneering: La Nef, France's first ethical bank, takes off"
RSE Magazine "The growing trend of repair in France".
Carenews "By the way, what are biodiversity credits?"
Green "Novethic, the specialized media, is threatened with closure".
Youmatter "Ecological transition budget: the social dimension suffers"
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