ECG - The Economy for the Common Good
Our company is evolving:
In June 2023, we became the first German market research institute and the first company in the district of Gießen to be certified according to criteria of the Common Good Economy (ECG) for environmentally conscious, social and transparent action:
From mid-2022 to mid-2023, whenever day-to-day business allowed, we examined the contents of our first common good balance sheet intensively. During this time, we asked ourselves questions, some of which we had not asked ourselves before, and in the process gained some exciting new insights and developed answers.
Now that our balance sheet has been audited and we have successfully completed our first ‘ECG round’, we can state that the decision was good and right and has given us important ideas for the coming years.
Contact us at any time – we will be happy to report on our experiences and are available to answer any questions you may have on this topic:
Phone: +49 641 39929659 | E-mail: info@hiestermann-froemchen.de
What exactly is Economy for the common good?
ECG is an alternative, ethical economic model developed by the Austrian Christian Felber in 2010. It is about doing business for the sustainable well-being of people, animals and the environment instead of striving for profit maximisation and dividends.
All companies and institutions that draw up a common good balance sheet for themselves undergo a 360° analysis of their business, in which compliance with values such as human dignity, solidarity, ecological sustainability, social justice, democratic co-determination and transparency is examined. The common good balance includes the social environment, i.e. customers and suppliers, competitors and future generations.
The respective performance of the company is assessed by an independent auditor using a point system in order to classify the extent to which the values have already been implemented in practice, what negative aspects still exist and what potential for improvement exists.
You can find our common good balance here:
ECG element: Employees
It was jointly decided by all employees to draw up an ECG balance sheet. In addition, one employee played a decisive role in the preparation of the report together with the management. This led to a higher level of identification with our company among our employees.
The ECG thus forms a substantive framework for the employees that goes beyond joint work. It is important to all employees to live and act in an environmentally conscious way, all experience the social orientation of the company and all employees are much better informed about the company’s goals.
How we want to improve further:
We want to introduce a “Social Day” on which our employees directly support a charitable organisation during their working hours (e.g. food distribution at the Tafel).
ECG element: Suppliers
The analysis of the cooperation with our suppliers carried out within the framework of the ECG balance sheet has shown us how important the long-term and trusting cooperation with partners is. Almost all suppliers have been closely associated with us for many years – in some cases for 20 years. Our customers therefore benefit from well-established processes and impeccable communication.
How we want to improve further:
We want to source our electricity from certified green electricity suppliers and will talk to our suppliers about the background and framework conditions of ECG.
ECG element: Owners and financial partners
Our company has never needed outside capital in the 10 years of its existence and will not need any in the future. This means that we have complete control over the use of funds according to ECG criteria. It is important to us that our financial service provider is also aligned with ECG criteria.
How we want to improve further:
We are preparing to change from our current bank, Sparkasse, to a more community-oriented bank.
ECG element: Customers and other companies
As part of the ECG certification, we analysed the distribution of our turnover according to the duration of the customer relationship.
The result: in 2021, we made almost three quarters of our turnover with companies and institutions with which we have had a business relationship for at least 10 years – loyalty and continuity in action.
How we want to improve further:
We want to make time budgets for pro bono projects available to our staff, e.g. for institutions that cannot afford the costs of surveys or market research or can only afford them to a lesser extent.
In addition, we want to further reduce the share of projects that are critical under ECG criteria, even though it is already below 10 %.
ECG element: Social environment
Our social commitment is to be expanded through the common good economy. We are therefore available to other companies, especially in the district of Gießen, to share our experiences with the ECG certification. In this way, we want to contribute to spreading the values of the ECG.
How we want to improve further:
We want to reduce our annual CO2 emissions as much as possible and offset the remaining emissions – even if they are comparatively low.
