What is sustainability
In 1987, the world united in the United Nations and accepted this definition of sustainable development:
'Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.'
It is the definition originating from the report by the World Commission on Environment and Development (WCED), better known as the Brundlandt Commission.
The quest for greater sustainability resulted in more companies taking increasing responsibility, not only for profit, but also for people and planet. This concept is known by the term: Corporate Social Responsibility (CSR).
The new Dutch corporate governance code now explicitly mentions CSR in its preamble 5, principle III.16 and best practice provision III.1.67 and, most importantly, in principle II.18, which stipulates:
"The role of the management board is to manage the company, which means, among other things, that it is responsible for achieving the company’s aims, the strategy and associated risk profile, the development of results and corporate social responsibility issues that are relevant to the enterprise. The management board is accountable for this to the supervisory board and to the general meeting. In discharging its role, the management board shall be guided by the interests of the company and its affiliated enterprise, taking into consideration the interests of the company's stakeholders. The management board shall provide the supervisory board in good time with all information necessary for the exercise of the duties of the supervisory board.”
Eumedion approaches CSR of listed companies by looking at risk management, remuneration and transparency and reporting.