Thomas Schanz

Fri 21 January 2022
12:00 CET (Brussels time)

The Economy For The Common Good?

In our quest for new economic narratives, we encounter the Economy for the Common Good (ECG). ECG is an alternative economic model, which makes the Common Good, a good life for everyone on a healthy planet, its primary goal and purpose. At the heart of this concept lies the idea that values-driven businesses are mindful of, and committed to *human dignity, solidarity and social justice, environmental sustainability, as well as transparency and co-determination.

This talk draws insights on how the Economy for the Common Good can transform our current economic model by applying The Common Good Matrix, a model for the organisational development and evaluation of entrepreneurial as well as charitable activities. It assesses and scores the contribution to the common good. The matrix combines values* which promote successful relationships and a good life, with the five stakeholder groups an organisation has most contact with (e.g. suppliers, financial service providers, (co-working) employers, customers, social environment …). At the intersection between the values and the stakeholder groups, common good themes (20) describe and evaluate an organisation’s contribution to the common good.

The purpose of this evaluation is to show the impact of corporate activities on the common good. In the assessment process, an organisation positions itself on a scale depending on how developed each value is in the organisation. The process of creating the report therefore promotes the further development of the organisation in a value-oriented way.

The Common Good Matrix lies at the heart of the Common Good Balance Sheet, a comprehensive documentation of the Common Good orientation of an organisation. Producing a Common Good Report makes it clear how values are perceived by the respective stakeholder groups, what the potential of the theme is, and which areas are worth developing.

But it’s not just businesses and charities that are working towards sustainable global development. More and more municipalities and cities are working to drive sustainability using the ECG model.
Thomas Schanz is Corporate Social Responsibility (CSR) Manager and ECG Consultant. The Economy for the Common Good (ECG) is a global movement of people from all walks of life, organized in Local Chapters and Hubs. Hubs are permanent work groups focused on specific topics. Individuals, companies, communities, non-profits, educational institutions can become members of ECG Associations. The International Federation is an umbrella association coordinating the growing number of National ECG Associations, namely, Austria, Germany, Spain, UK, Sweden, Netherlands, Switzerland, Italy, and Chile. The ECG International Federation is part of the “Transparent Civil Society Initiative.”