Economy for the Common Good

Key points:

The EESC

• considers that the Economy for the Common Good (ECG) model is conceived to be included both in the European and the domestic legal framework.

• underlines that the ECG is a model to be realised within the market economy, it is not opposed to the market economy.

• believes that the ECG will contribute to the transition towards a "European Ethical Market" which will foster social innovation, boost the employment rate and benefit the environment.

• hopes that the "European Ethical Market" will be built through the implementation of several strategies:

• Measuring indicators of wellbeing and social development beyond the GDP such as the Common Good Product and the Common Good Balance Sheet.
• Policy-making aimed at recognizing companies with higher contributions to the common good, such as ethical public procurement and the promotion of ethical internal trade.
• Promoting ethical external trade as the "Brand Europe". In this way, European companies will lead the global ethical market and will contribute to the enhancement of human rights, labour standards and the protection of the environment throughout the world.
• Encouraging all kind of entrepreneurs who start up organisations aimed at contributing to the common good.
• Fostering ethical consumption and awareness among European consumers.
• Increasing the diversity of the financial ecosystem by promoting networks of ethical banks and stock markets throughout the EU.

• demands from the European Commission, in the framework of the renewed CSR strategy, to make a qualitative step in order to reward (in terms of public procurement, access to external markets, tax advantages, etc.) those enterprises that can demonstrate higher ethical performance.