A Common Good Balance Sheet measures entrepreneurial success not only in terms of financial gain, but also in terms of its contribution to the common good. This includes human dignity, cooperation, environmental sustainability, social justice, and democracy. The objective is a transparent and credible assessment of where a company is in relation to the common good. Unlike other sustainability standards such as GRI or EMAS, an ECG Balance not only provides clear insight into all areas of corporate responsibility, but is also a qualitative assessment.
»The Economy for the Common Good is an important element of sustainability reporting for VAUDE. We are creating even more transparency and engaging in critical dialog with the public and the common good network.«
The balance sheet is initially created as a self-assessment in a detailed ECG report. Then this information is examined and evaluated by an external ECG auditor. Using a point system, the company’s self-assessment and the external ECG auditor’s assessment are directly compared. The results are published in an audit report. In a related audit certificate, total assets are published. As a result, the company’s contribution to the common good is directly comparable.
Video-Statement by Antje von Dewitz (VAUDE CEO) concerning the Economy of the Common Good
VAUDE achieved a balance sheet total of 502 points on a scale from -2850 to +1000. VAUDE was particularly exemplary in the areas of "Ecological Design of Products" and "Reducing Environmental Impact". Also, VAUDE’s positive influence on "Increasing Social and Environmental Industry Standards" throughout the outdoor industry was highlighted. Another positive appraisal was that VAUDE has taken first steps in the ECG aspect "Social Design of Products", such as its cooperation with FairWertung to give used products a second life.
»The ECG balance cannot measure a company’s contribution to the common good down to the millimeter, but serves as a reliable compass pointing the direction in which companies should develop. With over 500 points, VAUDE is far advanced along this path, and in some areas is even an exemplary role model.«
In May 2017, VAUDE CEO Antje von Dewitz was elected ECG spokesperson at the 5th International Delegate’s Assembly, making her an official ambassador for the ECG.
Starting December 31, 2016 Germany, the EU Directive on the Disclosure of Non-financial and Diversity-related Information came into effect. Together with other ECG companies, VAUDE supports the recognition of the ECG Balance as one of the legally binding standards for the implementation of the EU CSR Directive 2014/95 in Germany.