NaDiVeG largely complies with the common good

Two legal opinions confirm: The public interest balance 5.0 complies with the legal requirements for sustainability reporting, subject to minor adjustments.

The general interest balance sheet 5.0 is in line with the objectives of the EU Sustainability Reporting Guidelines (EU NFI Directive) and goes even further. It completely covers all reportable content in accordance with the German CSR Directive Implementation Act (CSR-RUG) and the Austrian Sustainability and Diversity Improvement Act (NaDiVeG). The few adjustments required for full compliance with legal requirements will be made in the next balance sheet version.

Companies reporting on the public interest balance sheet fully comply with their non-financial reporting obligations as required by the EU, the German and Austrian legislators, with regard to reportable content. To ensure that they fully meet the legal requirements in the future, in the next balance sheet version only adjustments to the range of the information to be provided, to the publication deadlines and to the reporting period would have to be made.

This conclusion is reached by recently published reports commissioned by the Gemeinwohl-Wirtschaft (GWÖ) at Fulda University of Applied Sciences and the University of Linz. 

Under the EU's 2014 / 95, CSR-RUG and NaDiVeG regulations, large companies with more than 500 employees will be required to submit 2017 data on environmental, social and labor issues, respect for human rights, and fight against corruption Provide diversity aspects.

"The public interest balance goes beyond some of the legal requirements and calls unlike other reporting models also an external substantive review of the balance sheet," says Andrea Behm, spokeswoman for the GWÖ. "We see it as confirmation of the work of the common good economy that two independent scientific opinions classify the public interest balance not only as a suitable instrument for meeting the legal reporting requirements, but also as a lever for a sustainable and ethical economic system."

The opinions - such as the United Nations Economic Commission for Europe (UNECE), the European Economic and Social Committee (EESC), the Club of Rome and political representatives at European and national level - attach a corresponding potential to the common good and see benefits that go far beyond the fulfillment of legal obligations for large as well as medium and smaller companies (SMEs) who create such a balance sheet.

Expertise | CSR-RUG

Title: First: Does 5.0 comply with the legal requirements of the German CSR Directive Implementation Act (CSR-RUG) of the 11.04.2017 on reporting requirements for non-financial information and diversity aspects? Second, what is the potential benefit of creating an 5.0 public interest accounting by SMEs with regard to the CSR-RUG reporting requirements of certain large companies? For the report.

Expertise | NaDiVeG (AT)

Title: Does the public interest accounting 5.0 comply with the requirements of the entrepreneurial reporting obligation of the Austrian Sustainability and Diversity Improvement Act (NaDiVeG) of the 17.01.2017? For the report.

Questions about the reports:
Andrea Behm, GWÖ spokesperson and lawyer, andrea.behm@ecogood.org

About the common good economy

The global public-benefit economy movement was launched in 2010. It is based on the ideas of the Austrian publicist Christian Felber. Currently, it includes some 11.000 supporters worldwide, more than 4.000 active in 150 regional groups, 31 GWÖ associations, 500-accredited companies and other organizations, almost 60 communities and cities, and 200 universities worldwide, spreading the vision of the common good economy , implement and develop - rising! Since the end of 2018, there is the International GWÖ Association, in which the nine national associations coordinate and pool their resources. (Stand 05 / 2019). 

Questions about the common good economy: Silvia Painer, silvia.painer@ecogood.org

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