ecoDa newsletter – October 2020

Uusi jäsenjärjestö Kreikasta on liittynyt ecoDaan. Kuukausitiedotteessa myös eurooppalaisten yritysten kestävää kehitystä ja kilpailukykyä lokakuun lopulla esittelevän corporate governance -webinaarin ohjelma sekä ecoDan lausunto Euroopan komissiolle kestävästä hallinnoinnista, johon myös DIF on antanut oman lausuntonsa.

1. Joint Event: Corporate Governance for sustainable and competitive European Companies

ecoDa, EuropeanIssuers and BusinessEurope are delighted to invite you to their joint online event.
The topics of Sustainable Corporate Governance and Directors’ Duties are of key importance at European level.
As a consequence, ecoDa, EuropeanIssuers and BusinessEurope are feeding the debate, by bringing together companies, board members and experts in Corporate Governance, to discuss the role of directors in creating long-term value.

Register here.

9:30 – 9:35 Welcome: Michel de Fabiani, Chair of ecoDa’s Policy Committee
9:35 – 9:45 How companies should articulate their long-term strategy? Luc Vansteenkiste,, Chairman EuropeanIssuers
9:45 – 11:15 Table 1: Long-term creation: Towards a stakeholders’ oriented-capitalism? Moderated by Odile de Brosses, Director of the AFEP Legal Department and Chair of the Policy Committee EuropeanIssuers
• Introductory remarks: Corporate interest: a legal myth? Odile de Brosses, EuropeanIssuers
• Testimonies: Companies in action: 1- Romas Švedas, Member of the Supervisory Board at RB Rail; 2- Cyril Rolling, from the Legal Department of L’Oréal
• Discussion: Should all stakeholders be put on a closer footing with shareholders? (Gorazd Podbevšek, Chair of the Slovenian Directors’ Association; Marcello Bianchi, Vice Director general at Assonime and Member of the Board of EuropeanIssuers; a MEP (tbc).
11:15 – 12:20 Table 2: Is a paradigm shift in terms of accountability needed? Moderated by Sandra Gobert, Guberna
• Introductory remarks: From a controlling role towards a more incentive role of shareholders: Sandra Gobert, Guberna
• Testimony: How investors can instill more transparency in ESG matters? Isabelle Cabie, Global Head of Responsible Development, Candriam
• Discussion: What sharing of responsibilities and what accountability systems in companies of tomorrow ? Lara Wolters, MEP, Group of the Progressive Alliance of Socialists and Democrats; Leena Linnainmaa, Secretary General of Directors’ Institute Finland; Philippe Lambrechts, BusinessEurope
12:20 – 12:30 Speech: Maija Laurila, Head of Unit, DG.JUST.A.3
12:30 – 12:40 Concluding remarks: Michel de Fabiani, Chair of ecoDa’s Policy Committee

2. ecoDa’s Response to the Consultation on the EC Impact Assessment on Sustainable Corporate Governance

In its response, ecoDa emphasized on the importance for companies and directors to strengthen their long-term strategies by further integrating the interests of legitimate stakeholders that make sense to their business.
However, ecoDa is concerned about the negative vision the Commission relays on businesses which does not reflect all efforts undertaken by companies to integrate sustainability in their strategies.
As a general principle, ecoDa would like to stress that boards should take into account the interests of both shareholders and the relevant stakeholders of the company, instead of taking into account all stakeholders’ interests on an equal footing, which are often mutually conflicting interests.

3. The Non-Executive Directors’ Club in Greece (NED CLUB) joins ecoDa

ecoDa welcomes the affiliation of a new member, the Non-Executive Directors’ Club based in Greece. Together with directors’ institutes from 20 European nations, NED CLUB will join the European voice of directors.

“Our affiliation to ecoDa is a natural process which testifies to our members’ desire to belong to the same community of values”, stated Leda Condoyanni, Chair of Ned Club in Greece. See Press Release.