Home » Corporate social responsibility » Initiatives from the public authorities and other stakeholders » France: will draft legislation that aims to broaden businesses goals beyond pure profit really change anything? France: will draft legislation that aims to broaden businesses goals beyond pure profit really change anything? In February 2017, attention turned to France as it adopted landmark due diligence legislation requiring certain French corporates to anticipate and prevent environmental and human rights violations both at it foreign subsidiaries as well as along its supply chains (cf. article No. 10132). This new draft legislation called the ‘Plan, d’action pour la croissance et la transformation des entreprises (Pacte)’ (Corporate growth and transformation action plan) intends to encourage companies to better consider the social and environmental aspects of their businesses. Although it won’t make it to the statute books before Spring 2019 (it’s first reading has just been adopted by the National Assembly, and is scheduled to move to the Senate in January 2019) the legislation will result in changes to both the Civil Code and the Commercial Code in order to introduce the idea that companies can have more than one social objective (profit). Repercussion and impacts remain the subject of discussion and debate. Through . Published on 16 October 2018 à 14h12 - Update on 16 October 2018 à 14h19 Resources More of a CSR hue in the Civil and Commercial Codes. Article 61 of the draft text address these issues and draws on a government commissioned report published in March 2018 (c.f. article No. 10598) that was co-authored by Nicole Notat, founder and president of Vigeo Eiris, and Jean-Dominique Senard, CEO of Michelin, and which examined links between business and the general public interest. The March report recommended several legal modifications that would ‘strengthen the inclusion of social and environmental issues in companies’ strategic business plans.’ In line with the experts’ recommendations, this Pacte draft law is first seeking to alter article 1833 of the Civil Code,… Need more info ? Contact mind's on-demand study service Which service do you want to contact :WritingCommercial serviceTechnical SupportFirst name Last name Organization Function email* Object of the message Your messageRGPD J’accepte la politique de confidentialité.EmailThis field is for validation purposes and should be left unchanged. Essentials Les dernières publications Supporting parenthood in the workplace: a win-win strategy Supporting employee carers: a CSR challenge Analyzes Les dernières publications Paternity leave: data observations from 41 countries EU: during H1 2022 five EU Member States have raised their minimum salary levels