#SustainabilityInTheBoardroom
Andreas Rasche is a researching and teaching on corporate sustainability with a focus on ESG, governance and sustainable finance. He currently serves as the Associate Dean for the Full-Time MBA program at Copenhagen Business School. Andreas has published over 60 peer reviewed articles in international journals and authored/edited seven books. He has worked for and collaborated with the UN Global Compact on a number of projects. From 2012-2024, Andreas served as Associate Editor of Business Ethics Quarterly and was a Visiting Professor at Stockholm School of Economics (2017-2020). More at: http://www.arasche.com
01-10-2024
The EU Commission has opened infringement procedures aimed at 17 EU member states for having not (yet) fully transposed the hashtag#CSRD into national law. The deadline was 6 July 2024 and the 17 member states were targeted because they failed "to notify their national measures transposing fully" those Directives that were amended by the CSRD.
The Commission commented: “In the absence of transposition of these new rules it will not be possible to achieve the necessary level of harmonisation of sustainability reporting in the EU and investors will not be in a position to take into account the sustainability performance of companies when making investment decisions.” (see link to press release below)
The formal letters sent to the 17 member states reflect the first step of the infringement procedure. Member states have two months to reply, after this the Commission can send a formal request to comply. In a last step, the European Court of Justice can be involved to impose penalties. (https://lnkd.in/gyfbKeKV)
Letters were sent to: Belgium, Czechia, Germany, Estonia, Greece, Spain, Cyprus, Latvia, Luxembourg, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia and Finland.
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Full press release by the EU Commission: https://lnkd.in/g3baNTs3
Preamble
In a world where complexity reigns, where capitalism's grip on society threatens democracy, and where suffering pervades our organizations, we find ourselves at a crossroads. In order to reshape the future of work, HR must heed the call of transformation, daring to challenge the status quo and driving change for good.
For far too long, HR has grappled with an existential crisis, losing sight of its purpose and its potential to be a force for positive change. We've professionalized, we've gathered brilliant minds, but the truth is, people are no longer truly at the heart of what we do. We've wandered in the wilderness of indifference, too often lost in a labyrinth of bureaucracy and technology.
The path to real change is not lined with quick fixes or superficial solutions. It's a winding road that demands introspection, courage, and radical honesty. HR must confront its own role in creating the suffering it purports to alleviate. We must stop to purchase indulgences in the form of DEI programs, or distract ourselves with the latest technological marvels to atone for our shortcomings.
If we fail to transform, the #futureofwork will be the exact mirroring of our troubled present. HR must take the reins of leadership and commit to subordinate effectiveness to #ethics, #humanism and #sustainability. This calls not only for new ways to imagine our organisations, but for a profound, inward journey. HR must shed the chains of dependency on those in power. It must once again nurture a dual loyalty, towards both the business and the ideals of its profession. It must unify practitioners across organizations in a shared quest for what is right and good.
It takes bravery to confront our deepest fears, and stand up for what is just. The bedrock of any good organization is good people, and HR must be willing to lead the way, so that others might follow. Leadership itself has grown morally mute, and herein might lie an opportunity for HR to show its metal and step into the void. A new HR has the potential to be the vanguard of a coalition of the willing, fostering systemic change within an unjust economic system.
The clock is ticking and it's time to decide which road you are willing to travel. Will you perpetuate the unhappiness of the past, with more of the same but new fancy clothes? Or will you take the courageous leap toward a better world, one where work exudes dignity, the economy serves humanity, and our organizations shine as beacons of a good life for all?
Peter Senge once spoke of leadership as a community's ability to shape its future. Within the HR community, let the spark of unwavering determination to craft a better world of work grow! Let our actions be the testament to our commitment to brighter, more humane organisations. That famous future, the future of work, is already upon us. Friends, let us not squander it!
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