Stefan Maier from Prior1 during the ECG session at the Sustainable Economy gGmbH in Berlin, Germany.

Economy for the Common Good calls for a new guiding culture for the entire economy

The first Sustainable Economy Summit (SES) ended on December 13th with a clear wake-up call to all political parties in Berlin. For the first time, an alliance of 13 associations – including the Economy for the Common Good- has succeeded in organizing a central event in the heart of Germany´s capital that gives the entire range of the transformative economy a unified, powerful voice. In the next few years, the event which was held under the patronage of Germany´s Minister of Economic Affairs Dr. Robert Habeck is supposed to become the “Davos of the sustainable economy”. The three-day event was attended by 400 CEOs and decision makers, 1,500 have registered for the live-stream.

Martina Dietrich, member of the management board of the International Federation for the Economy for the Common Good says: “The timing of the summit could not have been chosen better in view of COP28. It proves that we need fundamental, systemic change, including a values-driven guiding culture in our entire economy. The transformation of the economy necessary to achieve the climate goals can only be successful if the common good becomes the focus of economic activity instead of maximum profit for a few. Reckless pursuit of profit at the expense of nature and people must be sanctioned whereas sustainable and responsible economics must be rewarded and made financially worthwhile for companies.”  Antje von Dewitz, managing director of the textile manufacturer Vaude and spokeswoman for the ECG, said at the summit: “The Common Good Balance Sheet is a ready template for politicians to create a legal framework for this goal.”

The Common Good Balance Sheet is a values-oriented balance sheet that is prepared in parallel with the financial balance sheet of a company; it measures the contribution to the common good that arises from economic activity. Finding common values and goals that connect and bridge gaps, including those between the “brown” and “green” economy – this was one of the main themes that ran through the second day of the Sustainable Economy Summit in the Axica Congress Forum, co-hosted by the ECG. Alma Spribille, Managing Director of the telecommunications company Wetell: “We need the Sustainable Economy Summit in Berlin so that Berlin sees that sustainability and business belong together. In Davos everyone is talking about sustainability and climate impacts as risk factors. We see sustainability as a central element of the economy and are setting a counterpoint here in Berlin to show that the sustainable economy is loud, strong and driven by meaning.”

Read press release here.

Photo by Jörg Farys