Responsible Capitalism: An opportunity for Europe

Paris, Friday 11 September 2020

Corporate

Institut Montaigne and the Comité Médicis, think tank supported by Amundi, publish a new report today, "Responsible Capitalism: An Opportunity for Europe"

Written under the direction of Jean-Dominique Senard, President of the Renault Group, Vice-President of Institut Montaigne, and Yves Perrier, CEO of Amundi, President of the Comité Médicis, the report calls on Europe to become the continent of responsible capitalism. This would ensure the continent’s prosperity and the independence of European nations and companies

It is organized around three key points:

  • A new purpose: the company’s social function and the value it brings to all its stakeholders (employees, customers, communities, shareholders) are at the core of this responsible capitalism.
  • The challenge of combining economic efficiency and sustainability, responding to the two major challenges of global warming and social cohesion.
  • The alignment of shareholder interests with the company's purpose and the systematic use of ESG criteria reflecting European values.

Globalization is not going to stop, but it will have to be governed in such a way that the independence and cohesion of European nations are ensured. This will be one of the responsibilities of companies. Therefore, the question of responsible capitalism must be at the heart of the reconstruction of the European Union. The time ahead will be that of a New Deal between each European nation and its companies, with the notion of responsibility at its core. 

comment Jean-Dominique Senard, President of the Renault Group, Vice-President of the Institut Montaigne and Yves Perrier, CEO of Amundi, President of the Comité Médicis.

Through 17 proposals the authors elaborated three priorities for the creation of a European movement:

  1. Encouraging long-term investment in Europe at a time when short-term capitalism is still prevailing.
  2. Taking back control over financial and extra-financial accounting information to align it with European values.
  3. Creating a common legal framework to support responsible European businesses.

Access to the report