Common Good Balance Sheet
The process of producing a Common Good Report and Balance Sheet brings deep insights and creates valuable strategies for the future. And it creates complete transparency for all stakeholders." Lisa Muhr, Joint Managing Director, Göttin des Glücks GmbH
Does your company meet the
European Union's non-financial information
The Common Good Balance Sheet measures success by new standards:
Increasing the common good becomes the main goal, not simply financial gain.
The contribution to the common good is assessed and scored through the Common Good Matrix. It allows a systematic examination of all activities from a 360° perspective and really focuses on the essentials:
- What impact are economic activities having on the general quality of life, today and for future generations?
- What attention is being paid to human dignity?
- Is social justice being promoted?
- Is environmental sustainability assured?
- Are business goals achieved democratically and through cooperation? How transparent is the process?
Points are only awarded for such activities, which go beyond the fulfilment of the legal minimum standard.
Educational establishments and local authorities can also draw up a balance sheet as well as companies. They all are pioneers for a more sustainable world. The Economy for the Common Good has been endorsed as a model for the widespread establishment of an ethical economic system in Europe by the European Economic and Social Committee (EESC): EESC opinion statement
How to publish a Common Good Balance Sheet
It takes three steps to publish the balance sheet: first, produce a Common Good Report, then get the results audited. Finally, publish the Common Good Balance Sheet. A condition of publishing a Common Good Balance Sheet is valid membership of a recognised ECG association.
Producing a CG Balance Sheet has advantages on many levels - within the organisation, in the market place, and in the wider society
Benefits for the organisation
+ 360°sustainability management
+ relationship management
+ motivation in the workplace
Benefits in the market place
+ more attractive to customers
+ stand out from competitors
+ increased profile
Benefits for society
+ common values
+ quality of life
+ conservation of nature and environment
+ fair and sustainable products
Common Good Pioneers: Leading by example
ECG companies have long appreciated the added value of a holistic approach. They are pioneers in doing sustainable business which respects human dignity. Transparency is a core value for them: their Common Good Balance Sheets give a comprehensive overview of how to shape a better world. Take a look at these examples here.
Economy for the Common Good
Companies that are making their first steps with the Economy for the Common Good and towards their first balance sheet and who pay an ECG membership fee, can be publicly recognised as a supporter organisation. They can complete and publish an introductory report as a precursor to the balance sheet.
Economy for the Common Good
Audited ECG company
Companies that have created a Common Good Report, and had it audited can be named 'Audited ECG company'. Audited companies can use this identification, as well as the point scores even at the product level.