Pledges
Pledge formulated by Institute for Economic Democracy, Slovenia
Pledges
Publishing organisations:
Institute for Economic Democracy
Relevant countries:
Slovenia
Organisation types:
Business Support Organization
Economists dream of a market economy where agents following their own self-interest will be led, as if by an "invisible hand," to further social goals. But that dream in a country of locally/family-owned businesses has long been undermined by the modern corporate economy built on absentee ownership, and as of recently, by the private equity sector. There is a lesson to be learned in the American case of the CEO of an oil company doing fracking in the Dakotas who then led the opposition to another oil company doing fracking near his Texas ranch – no one wants the fouling of their "own nest." The European ESOP structurally embeds environmental responsibility in corporate governance by ensuring decision-making power is shared democratically among those affected by the environmental impact of the company (that is, the employees, who inhabit the local communities in which the business operates) and so, by design, partly internalizes negative externalities of business operation. Instead of more greenwashing "pledges" from the corporate executives and campaigning politicians, we pledge to disseminate and eventually scale an ownership model that puts environmental responsibility in the self-interest of the decision-makers. We pledge to continue to implement democratic models of employee ownership in the businesses we help transition to employee ownership, with a minimum of 50 ownership restructuring projects by the end of 2030, therefore contributing directly to achieving the EU net zero goals. Even more importantly, the proof of concept will serve as a practical demonstration that a more socially responsible market economy is viable through increased local/employee ownership.
Institute for Economic Democracy
Topics
Slovenia
Business Support Organization
-
Thematic area
-
-
Regenerative Green Transition
-
-
Interlinkages with other sectors
-
-
Proximity and social economy
-
-
Action areas and keywords
-
-
Greening infrastructures and business operations
-
-
Ecosystem focus
-
-
Social economy
-
-
Scope of activity
-
-
International
-
Share
Comments (0)
Login / create an account to be able to comment
See also
-
1 view
Pledge formulated by Impact Hub Liepāja
Relevant countries: Latvia
Organisation types: Business Support Organization
- Categories
- Energy intensive industries Energy-renewables Greening infrastructures and business operations +3 more
-
2
Pledge formulated by Institute for Economic Democracy
Relevant countries: Slovenia
Organisation types: Business Support Organization
- Categories
- Working conditions and governance Proximity and social economy Creating financial incentives and supportive regulation for green and circular social economy business models +2 more
-
1 view
Pledge formulated by Institute for Economic Democracy
Relevant countries: Slovenia
Organisation types: Business Support Organization
- Categories
- Cultural and creative industries Innovation as enabler for green transition and business development in the social economy Social economy +1 more