Ecotech Laboratory becomes the first Latin American company to complete their ECG Balance Sheet and audit!
In 2022, as a member of the Economy for the Common Good (ECG) Local Chapter in Uruguay, Ecotech Laboratory committed to completing their first Balance Sheet and were very pleased to score 653 points out of a 1,000. Afterwards, they decided to engage in further evaluation at the hands of a qualified group of auditors from the ECG National Association in Spain.
The Common Good Balance Sheet is a comprehensive document that effectively represents the common good orientation of an organisation. Producing a Balance Sheet is the first of an ongoing, value-creating process with different aspects to be considered. ECG consultants help business representatives understand the themes and adjust the reporting tool to their specific needs. The final product gives the company a good idea of where they are in their journey towards true sustainability and ethical management, making the potential and the opportunities for growth clear to the stakeholders.
In this particular case, Ecotech Laboratory qualified as exemplary (700 points or more) in 9 of the 20 Common Good Matrix themes. In their own words: “It is now time to improve this contribution, to be more aware than ever, to give back to the community and to the planet, to share the good and the future with the people we love and that love us. There is a future, a different way of doing things, we can flourish as companies without growing infinitely, offering shelter and oxygen to be more alive than ever, fulfilling ourselves as people present here and now.”
They also made a comment on their decision to collaborate with the ECG and implement the tools: “The ECG is a movement, a model and a practical and holistic economic proposal that encourages a focus on cooperation and contribution to the common good, rather than profit and competition, which the current system is largely based upon. The contribution of the companies to the common good of people and planet is measured through the Common Good Balance Sheet. This documentation measures the way in which a company, its workers, suppliers, customers and the community experience the core ECG values: human dignity, solidarity and social justice, environmental sustainability, transparency and codetermination.”
Read the original publication in Spanish.
Learn more about ECG Uruguay and the ECG Latin American Continental Chapter (CCAL).