The new ECOnGOOD sustainability seal - which takes more than just individual areas into account - we are part of it!
The ECOnGOOD Label from the Economy for the Common Good (GWÖP) is a new sustainability seal that takes social, ethical, and environmental factors into account. This groundbreaking initiative goes far beyond current standards and demonstrates that it is possible to promote fair and responsible business practices. It assesses the actual impacts of business operations and supply chains, thereby enabling investors and customers to make better decisions that align with their needs and values. The launch of this new label took place on February 15, 2024, at BIOFACH 2024, the world’s leading trade fair for organic products, in Nuremberg, Germany.
As a flag and textile promotional product manufacturer certified under the Common Good Balance, we are among the first companies to publicly display this label. For the sake of humane coexistence and our next generation, we live and act in accordance with the Common Good concept.
FAHNENGÄRTNER has been certified since 2019 and has already undergone two re-audits. Treating people and nature responsibly, as well as conducting business sustainably, are close to our hearts. These core values are an integral part of our corporate vision and form the basis for sustainable business practices in a spirit of mutual respect. In doing so, it is particularly important to us not only to design internal production steps to be as resource-efficient and sustainable as possible, but also to consider the entire value chain.
The ECOnGOOD label uses a QR code that links directly to FAHNENGÄRTNER’s results, which are available online. Because it takes a holistic approach, 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: The movement, organized in national associations, will gradually be renamed “ECOnGOOD.” As a first step, for example, the “International Federation for the Economy for the Common Good” will be renamed “ECOnGOOD” as early as March. Bridget Knapper, a member of the association’s executive board, said:“We are thereby acknowledging the movement’s successful international expansion and creating a strong, internationally unified brand. The name for the Economy for the Common Good model will remain, but the organization will adopt a new, more accessible name for its international activities.”
The Economy for the Common Good Balance Sheet was launched in 2010 following the 2008 financial crisis, when calls for a fundamentally new approach in the international business world grew louder. It was formulated by socially responsible entrepreneurs who no longer see the purpose of their economic activities as merely maximizing profits, but rather as an opportunity to meet the basic needs of all people within planetary boundaries and to make a positive contribution to society. The ECOnGOOD label now makes this commitment visible and comparable.
“Hundreds of Economy for the Common Good assessments prove that there is a need among the broader business community for such a standard, particularly among family-owned businesses, regionally rooted companies, and ethically motivated enterprises. To date, over 1,100 companies and organizations have been audited according to the criteria of the Economy for the Common Good. These include not only flagship companies such as Sparda Bank Munich and Sonnentor, but also municipalities and cities, schools, and universities. In December, FC St. Pauli became the first professional soccer club in the world to publish a Common Good Balance Sheet.
