Common Good Balance Sheet

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For me, orientation towards the common good is the most important foundation of the future and thus of any increase of productivity in the future." Helmut Lind, Chairman of the Management Board, Sparda Bank München eG.

Does your company meet the
European Union's non-financial information
reporting requirements
?

The Common Good Balance Sheet measures success by new standards: increasing the common good becomes the main goal, not only 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 these 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 activities that go beyond the fulfilment of the legal minimum standard.

Educational establishments and local authorities can generate a balance sheet just like commercial 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:

  1. First produce a Common Good Report
  2. Get the resulting report audited, resulting in a Certificate
  3. Finally publish the Common Good Balance Sheet

A condition of publishing a Common Good Balance Sheet is membership of your local ECG association.

Benefits

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
+ innovation

Benefits in the market place

+ more attractive to customers
+ stand out from competitors
+ increased profile
+ cooperation
+ network

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 they shape our world.

You can have a look at an example from elobau or Vaude:

Balance Sheet Vaude 2018.png

 

Market profile

Economy for the Common Good
Supporter company

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.

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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.

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150520_gwoe_logorelaunch_ml_B-06-06.jpgECG product labelling (work in progress)