We develop and promote new business models and legal frameworks that better integrate societal interests into corporate purpose and governance to improve corporate sustainability, transparency and accountability.
We recognize the key role that corporations play in the current economy and its relevance in society, but we also see the struggles of the corporate sector to act sustainably, ethically and the shortcomings in their responses to fundamental challenges such as climate change and human rights.
By working with businesses, leading scholars and NGOs, we strive to revise the corporation and its relationship with society.
Changing the practice and the legal framework to integrate sustainability into reporting and corporate governance
At the international level, we initiated the Purpose of the Corporation project, which aims to debate how to meaningfully and effectively integrate sustainability into corporate governance.
We lead the Alliance for Corporate Transparency initiative, bringing together 20 leading non-profit organizations dedicated to sustainability reporting and its reform at the EU level. Within the Alliance, we thoroughly analyzed sustainability data disclosed by 1000 large European companies to obtain objective data on the quality of reporting for practice and legislative changes.
As members of an expert committee established by the European Commission, we participated in creating the draft of the EU Non-Financial Reporting Directive, and we are actively working with representatives of European institutions, civil society and progressive business on its revision - Corporate Sustainability Reporting Directive.
We participate in the European Financial Reporting Advisory Group (EFRAG) project, which, based on a mandate from the European Commission, is drafting the first European sustainability reporting standards that will be adopted together with the new legislation.
We have also prepared a comprehensive overview of what sustainability data companies and investors should report according to EU legislation (taxonomy of sustainable activities, SFRD and CSRD). We publish a series of detailed articles on sustainability reporting.
Changing the rules on corporate liability for negative impacts
We chair the European Coalition for Corporate Justice - a coalition of 500 leading European NGOs with which we develop and promote a clear and meaningful framework for corporate responsibility for negative impacts on human rights and the environment based on UN and OECD standards. Its foundation is due diligence, which defines how companies should identify, prevent and minimize the impact of their businesses in supply chains with respect to their share and influence.
We also advocate for the removal of the law obstacles that prevent injured people from accessing courts.
Developing a legal framework for corporate responsibility, which is still voluntary, is crucial to address major issues related to global supply chains, such as forced and child labor and illegal deforestation. Clear liability rules are also essential for fair competition and a level playing field for responsible companies that do not use risky supply chains.
We support B corporation
Since 2013, we have been developing an innovative business model that combines the best of business and the non-profit sector. Within the Frank Bold consortium, the legal services for companies are provided by Frank Bold Lawyers, whose values and established internal process guarantee that they will never defend corruption, cover-up crimes, legalize dirty money, participate in environmental damage or violation of human rights.
The B Corporation certification is a standard for responsible corporate governance that integrates public benefit with a successful business. We have been its holders since April 2016. In addition, a member of our team is also a member of the B Lab Europe advisory board, an organization that develops this certification.