The ECOnGOOD label of the Economy for the Common Good ( ECOGOP ) is a new sustainability label that takes social, ethical and environmental factors into account. This ground-breaking initiative goes far beyond current standards and proves that it is possible to promote fair and responsible business practices. It assesses the real impact of business operations and supply chains, empowering donors and customers to make better choices that reflect their needs and values. The presentation of this new label took place at BIOFACH 2024, the world's leading trade fair for organic in Nuremberg, Germany, on February 15, 2024.
As a manufacturer of flags and textile advertising materials for the common good, we are among the first companies to present the label to the public. We live and act according to the concept of the common good for a humane coexistence and for our next generation.
FAHNENGÄRTNER has been certified since 2019 and has already been re-audited twice. Responsible treatment of people and nature, as well as sustainable business practices, are important to us. These core values are an integral part of our corporate vision and form the basis for sustainable business practices in a respectful cooperation. It is particularly important to us not only to make internal production steps as resource-saving and sustainable as possible, but also to consider the entire value creation process.
The ECOnGOOD label uses a QR code that leads directly to FAHNENGÄRTNER's results, which can be viewed online. As it is holistic, it covers common CSR reporting standards and goes well beyond them.
With the introduction of the ECOnGOOD label, the Economy for the Common Good movement will take another substantial step forward: This is because successive renaming of the movement organized in national associations to "ECOnGOOD" is to take place. For example, the first to rename itself to "ECOnGOOD" will be the "International Federation for the Economy for the Common Good" before the end of March. Bridget Knapper, member of the federation's management board: "We are thus paying tribute to the successfully advancing internationalization of the movement and creating a strong, internationally uniform brand. The name for the Economy for the Common Good model will remain the same, but the organization will have a new, more accessible name for international use."
The Common Good Balance Sheet was launched in 2010 after the 2008 financial crisis, when there was a call for a fundamentally new approach in the international business world. Formulated by responsible entrepreneurs who no longer see the purpose of their business activities purely in terms of profit maximization, but as an opportunity to meet the basic needs of all people within planetary boundaries and make a positive contribution to society. The ECOnGOOD label now makes this commitment visible and comparable.
"Hundreds of common good balance sheets prove that there is a need for such a standard in the wider business community, especially among family businesses, regionally based and ethically motivated companies. To date, over 1,100 companies and organizations have been audited according to the criteria of the Economy for the Common Good. These include flagship companies such as Sparda Bank München and Sonnentor, as well as municipalities and cities, schools and universities. In December, FC St. Pauli even became the first professional soccer club in the world to publish a common good balance sheet.
