What ECG stands for
The Economy for the Common Good (ECG) aims to benefit all stakeholders in an organization – employees, suppliers, customers, business partners, the local community and society at large. It does so with a Common Good Balance Sheet, which measures the impact the organization has on these stakeholders.
Impact on various levels
The Economy for the Common Good has impact at the local and regional level of governments, even at the European Union. Several institutions of higher education offer degree programs and are active in scientific research about the Economy for the Common Good. A growing number of companies apply the ECG in their daily operations.
ECG and the UN’s SDGs
The United Nation’s Social Development Goals (SDGs) are the blueprint to achieve a better and more sustainable future for all. Municipalities and companies alike have reported that a Common Good Report is an appropriate instrument to implement the SDGs. All 17 SDGs are based on the values which are the foundation of the Economy for the Common Good.
EFFECTING CHANGE WITH
ECG targets four groups in order to achieve its goals
Companies are of crucial importance and serve as multipliers for the ECG. To document their efforts, they draw up a Common Good Balance Sheet.
- Municipalities support companies to draw up an ECG Balance Sheet.
- Educational Institutions integrate ECG into their curriculums and research.
Individuals support the ECG financially, with their work in various ECG groups and as activists. However, they are also reflect on their contribution to the Common Good.