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In the CSR news for the week of September 16 to 20, French companies stand out from the crowd on CSR issues, turning this approach into a strategic lever.
According to a number of recent studies, citizens are expressing growing expectations of corporate commitment, while initiatives such as the Nef and the rise of artificial intelligence are opening up new prospects.
However, challenges remain, such as taking biodiversity into account and maintaining management's interest in sustainability in an uncertain economic climate.
Read all the latest CSR news in this article.
French companies ahead in CSR
French companies are among the best performers when it comes to the maturity of their CSR initiatives. TheAccenture study carried out in conjunction with the Giverny Forum, entitled "ESG: transforming compliance into a strategic advantage", consulted 730 CFOs, 72 of them French.
More specifically, this survey questions the level of maturity of companies in taking into account CSR regulations as strategic advantages in their sustainability policies.
In fact, 97% of the CFOs of French companies surveyed said that CSR would be "at the heart of their concerns" over the next 5 years (compared with 90% worldwide).
Finally, the study states that 97% of French companies have a "moderate level" of preparation to "go beyond mere compliance and create a competitive advantage", compared with 73% worldwide, i.e. 24% less.
Citizens expect a strong CSR commitment from companies
The Forum de Giverny commissioned an Ifop study to examine French expectations in terms of CSR. Carried out on a sample of 1,000 people, the main finding was that 77% of respondents were in favor of encouraging companies to finance sustainable projects outside their own field of activity.
What's more, almost 90% consider it "decisive or important" that CSE representatives are trained in environmental issues. This figure reflects the importance of corporate governance and democracy in relation to CSR.
Finally, the study reveals that, in addition to companies, respondents recognize the essential role that politics must play in the development and implementation of realistic sustainability trajectories.
La Nef, an ethical bank to transform finance?
La Nef is a solidarity finance cooperative that has been in existence for 36 years. However, just a few days ago, it managed to extricate itself from the Crédit Coopératif fold, following a joint decision by the ECB and the ACPR (Autorité de Contrôle Prudentiel et de Résolution). It thus becomes a fully-fledged bank, on a par with the major national banking institutions.
Over the course of its history, La Nef's balance sheet has exceeded one billion euros, and it now has over 87,000 customers. La Nef has always upheld the values of transparency and the financing of ecological and sustainable projects.
From now on, this bank will be able to extend its range of services to include those traditionally offered by Europe's leading banks.
AI and CSR: risk or opportunity?
The advent of generative AI and the promise of the progress it will make rapidly over time raises real questions about potential productivity gains in the enterprise.
For example, climate modeling and innovation in renewable energies are taking full advantage of the technical opportunities offered by AI. But also in the healthcare sector. In short, it seems that AIs can be put to work for sustainable development.
However, while the stock market value of the AI sector could reach $1.3 trillion by 2032, massive use of AI solutions raises serious ethical questions. "Not least in terms of data security, privacy, or transparency." Not to mention the risks associated with malicious use of AI, likely to undermine the dignity of the people who could be its target.
CSR portal: a public service to facilitate reporting
Two years ago, the French government launched the programming of a digital service to support companies in their CSR initiatives. What's more, the service is intended to be a real work tool for this purpose.
In just a few seconds, you can :
- Identify all the regulations affecting your business
- Access an interface for managing and monitoring compliance procedures
- Consult fact sheets and memos on CSR and the issues surrounding it, particularly in terms of regulations (CSRD, CSDDD, etc.).
Ultimately, this online platform aims to offer companies a "single, free space to enter their ESG indicators and manage their extra-financial obligations".
SBF120 governance models: the rise of CSR
The recent IFA-Ethics & Boards 2024 Barometer reveals a simple figure: 86% of SBF120 companies have a committee dedicated to CSR issues. This compares with an average of 63% in the euro zone. In this respect, France is well ahead of its European neighbors.
Boards of directors are therefore renewing their governance models to take greater account of sustainability issues. Between 2021 and 2023, one out of every two CAC40 boards will have organized training on CSR/ESG issues.
Finally, the question of value sharing is also gaining in interest, with 82.5% of CAC40 companies communicating on this subject. In 2019, only 55% did so.
Biodiversity still under-recognized within the company
A study conducted between 2022 and 2024 by the World Benchmarking Alliance looks at the ways in which companies are factoring biodiversity issues into their business models. More specifically, it shows that companies do not understand the extent of their dependence on biodiversity.
"Only 5% of the companies analyzed assess their impact, and less than 1% have carried out an assessment of their dependence on nature".
For example, the growing scarcity of water requires a real awareness on their part and the implementation of internal policies to preserve this resource.
The study concludes that big business takes nature for granted, without considering "that a healthy planet is the basis of a healthy economy".
Indonesia: deforestation project spells ecological disaster
The Indonesian island of Papua is about to undergo colossal deforestation, covering an area 112 times the size of Washington! Although there are still many preserved tropical forests, this project could wipe out a wealth of flora and fauna.
The threat to Papua's biodiversity posed by this deforestation is due to the ambition of the government and industrialists to install rice and sugarcane plantations. They justify their move by claiming that it will be used to produce bioethanol as a way of getting away from fossil fuels.
More than 2,000 excavators are currently deployed on the island and ready for use. A threat that also weighs on the indigenous populations who live in this 3rd green lung of the world, which has lost "25% of its forests rich in biodiversity since 1990".
CSR is of less and less interest to managers...
A recent barometer published online by Bain & Company reveals a real decline in interest in CSR and sustainability issues among business leaders. They observe a 30% drop in ecological and social concerns among CEOs.
The study explains that this trend is the result of growing concerns about other issues: inflation, geopolitical instabilities or even the advent of AI. They speak of a "trough of disillusionment" that CSR is going through, where executives realize that the transition will require a lot of time, investment and effort.
At a time when the validity of European CSR regulations is being called into question, we can fear the emergence of dynamics that relegate corporate sustainability issues to the background.
How can we ensure responsible communication?
Conducting communication and marketing campaigns in line with CSR principles can sometimes prove difficult. Indeed, a company's economic health sometimes depends on promoting business practices that have a negative impact on the environment.
Responsible communication rests on 4 pillars, designed by Ademe:
- "Message responsibility": don't indulge in greenwashing and misleading advertising
- Media quality: measuring the effectiveness/environmental impact ratio of message distribution
- Dialogue and listening: integrating and listening to stakeholders
- Business ethics: "Strive for maximum efficiency to optimize resources".
The sources
Carenews "Companies' ESG maturity is relatively high".
RSE Magazine "CSR: the French expect strong commitments from companies".
L'Humanité "What's the Nef, the ethical bank that's set to revolutionize finance?"
Sustainable info "Artificial intelligence: between opportunities and ESG risks".
Novethic "CSRD: the CSR Portal refines its tools to support companies".
RSE Magazine "CSR: 8 out of 10 SBF120 companies have a dedicated committee".
Youmatter "Less than 1% of companies understand their dependence on biodiversity"
Novethic "In Indonesia, a deforestation project 112 times the size of Washington"
Novethic "Faced with the economic and political crisis, CSR is taking a back seat for executives"
Carenews "Responsible communication: why it's time to start".
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