Consultation on Gender imbalance in
corporate boards in the EU
The European Commission is considering possible EU-level measures to enhance female participation in economic decision-making. A public consultation has been launched by the Commission to which the CEC took part.
The CEC supports the Commission’s initiative. Imbalance between men and women cannot be fixed without common national or European binding objectives.
However, the CEC invites the Commission to remain cautious on matters of positive discrimination. The level of qualification of a candidate and his or her “fit” to an individual post in a corporate board should continue to be the decisive factor.
The European Commission has published a report on national policies promoting Corporate Social Responsibility across the European Union
In the aftermath of the recent economic and financial crisis, Corporate Social Responsibility is more pertinent than ever to drive European companies towards smart, sustainable and inclusive growth. Social and environmental commitments of undertakings are deemed necessary to restore confidence between citizens and economic actors. Beyond companies, national governments and the whole society must have a proactive approach towards the promotion of CSR principles, as social and green society and economy are shared objectives.
This report provides an update of national practices and policies on Corporate Social Responsibility among Member States. Indeed, the European legal landscape is characterized by a great diversity of national frameworks regulating CSR principles, for example regarding Responsible Supply Chain Management.
More and more companies disclose information on their environmental, social and governance performances (at international level, specific reports are estimated to amount to 4000 every year). Nevertheless, companies disclosing information still represent a weak share among companies worldwide. Yet, in the framework of Corporate Social Responsibility, stronger contributions of companies in the fight against climate change and socially responsible investments can yield better competitiveness.
CEC responds to the European Commission's Green Paper on Corporate Governance
On 5 April 2011, the European Commission has launched a public consultation on the revision of the EU corporate governance framework, aiming at increasing the effectiveness of the current rules for European companies. (Please check the European Commission website for further information: http://europa.eu:rapid/pressReleasesAction.do?reference=MEMO/11/218&format=HTML&aged=0&language=EN&guiLanguage=en)
Indeed, the economic and financial crisis showed that supervision was not as effective as it should have been, and the application of the corporate governance code was unsatisfactory.
The Green Paper identifies the most relevant issues to good corporate governance in the EU and focuses on three chapters: board of directors, shareholders and enforcement and monitoring of national corporate governance codes.