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Approaching The Future 2024 - Global Launch

Published by Unai Admin

18/07/2025

Approaching The Future 2024 - Global Launch

Approaching The Future. Trends in Reputation and Intangibles Management is the report that Corporate Excellence publishes annually in collaboration with Canvas Sustainable Strategies, and Global Alliance as the worldwide partner, where the impact of intangibles on the business agenda is analyzed.In this 9th edition, 9 key trends are identified based on a sample of almost 2,200 professionals surveyed. The exponential increase in the sample allows: To make a comparison between the most relevant trends and those most worked on by organizations, with corporate reputation being the top priority for 6 out of 10 professionals and corporate communication being the trend to which 54.4% of companies devote the most resources and efforts. To understand the vision by professional roles: senior management, middle management and technical profiles. To analyze the impact of intangibles on large companies (+5,000 employees). To establish the geographic focus on Latin America, with specific analyses for Central America and the Caribbean, Chile, Colombia, Bolivia, Ecuador, Spain, Guatemala, Mexico and Peru.Access all the materials to get closer to the state of the art of intangibles in the business fabric: The full report 🔒 (Subscription to access) The executive summary Trends map Presentation of results 🔒 (Subscription to access) ATF 2024 press releaseIn a context of high social and political polarization, marked by war conflicts that configure a complex geopolitical environment and strong skepticism, this report is more necessary than ever. Approaching the Future has become a compass that allows professionals and organizations to navigate in uncertainty, managing risks from multiple areas, but also understanding and taking advantage of the opportunities of this complex reality.

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30/09/2024

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Reputation and Corporate Communication: Key Intangibles in Business Management

Published by Unai Admin

18/07/2025

Reputation and Corporate Communication: Key Intangibles in Business Management

Reputation and Corporate Communication: Key Intangibles in Business Management

The 9th edition of the report created by Corporate Excellence - Centre for Reputation Leadership in collaboration with CANVAS Sustainable Strategies and Global Alliance for Public Relations and Communication Management collects the 9 major trends in intangible asset management that are currently shaping the business agenda. Corporate reputation and reputational risk occupy the top spot in the relevance ranking, and they have seen the greatest increase in resources and investment since the previous edition (+7.8 points). Corporate communication is the trend being worked on the most by companies and the area where senior management invest more resources, demonstrating it strategic role as an essential aspect of the business model of the future. In a global climate of geopolitical instability, political and social polarisation, and increasing environmental and technological risks, uncertainty has become a widespread sentiment. In response to this scenario, companies are evolving towards more committed and responsible management and leadership models that build trust among their stakeholders, with corporate reputation and reputational risk being key elements. This is one of the main findings in the 9th edition of the report Approaching the Future (ATF) 2024: Trends in Reputation and Intangible Asset Management, produced by Corporate Excellence – Centre for Reputation Leadership in collaboration with CANVAS Sustainable Strategies and the Global Alliance for Public Relations and Communication Management as worldwide partner. The international launch of this study, published under “the World PR and Communications Month” promoted by Global Alliance, analyses the impact of intangibles on the business agenda and strategic decision-making, and serves as a benchmark for understanding today’s organisational priorities, the issues to which companies are dedicating the most resources, and the challenges that they face. Based on a survey of nearly 2,200 professionals (40% of whom are senior executives) and the qualitative analysis of 11 leading experts, the report provides a forward-looking perspective on corporate strategy. Predictably, this year, artificial intelligence and its disruptive impact on business is included among the top nine trends for the first time. Companies face disruptive changes in dynamic and highly competitive environments marked by various crises and risks that create significant reputational challenges. As a result, corporate reputation and reputational risk lead the ATF 2024 trends ranking: 60% of professionals consider it the most relevant intangible, and 70% state that its relevance has increased significantly over the past three years. In fact, reputation is the area that has grown the most in investment and resources compared to the previous edition (+7.8 points), with more than half of consulted companies (54%) now actively managing it. Although 57% admit they are not measuring their reputation, they do use direct surveys and reputational rankings. Additionally, reputation is being reported and consolidated in management committees and boards of directors (68%), becoming integral to strategic business decision-making. "The results of this year reflect that managing intangibles and promoting reputational leadership translates into business growth and corporate excellence. Companies that invest in strengthening their intangible assets will find a solid source of trust and support from all their stakeholders” says Ángel Alloza, CEO of Corporate Excellence - Centre for Reputation Leadership. “The report clearly demonstrates that there is a cross-cutting relationship between all trends, highlighting the importance of intangible assets in the business agenda. It is important to see this year the role of reputation as the highest position of the ranking but how communication is again the area where companies are working at their most. For senior management, communication is seen as an essential tool to activate behaviours and amplify the corporate narrative strategy,” emphasises Justin Green, President and CEO at Global Alliance for Public Relations and Communication Management. Responsible leadership, understood as a conscious management model guided by corporate purpose and a strong culture rooted in values and principles, is the second most relevant trend for companies, and the first for senior executives: 53.3% report dedicating resources to its development. The biggest challenge with these new leadership models will be actively listening to stakeholders and aligning their concerns with the company's purpose. Sustainability: Consolidating Triple Impact Business Sustainability ranks third, being the third most worked-on area by surveyed professionals (51.8%), and the main concern for 7 out of 10 large companies (70.3%). The primary focus for organisations making progress in sustainability is integrating it into their business strategy (which is also the biggest challenge), alongside adapting to new regulatory frameworks and identifying potential opportunities for sustainable corporate development. This ATF 2024 edition includes a specific consultation on progress in the areas of triple impact and ESG (environmental, social, and governance). The result shows a balance among the three elements (35.4% of sustainability resources are allocated to social issues, 35% to environmental aspects, and 29.6% to governance), demonstrating that sustainability is increasingly understood and managed as a cross-functional business asset, rather than just an environmental issue as it was perceived traditionally. Purpose and Communication at the Centre of Business Strategy Corporate purpose has risen two positions since the previous edition, now firmly holding fourth spot in the relevance ranking. It is also the area that has grown the most in investment and resources since 2023 according to senior executives (+7.3 points), with over half of consulted organisations (51.7%) currently working on corporate purpose and prioritising its integration into the business as a strategic guide in decision-making processes. Corporate communication is, for the second consecutive year, the most worked-on trend, receiving the most resources regardless of professional roles or company size. It plays a fundamental role in generating branded content and in mobilising efforts to effectively implement and activate the corporate purpose, both internally and externally in terms of stakeholders and society at large. “Conscious leadership guided by corporate purpose and a strong culture rooted in values and principles reflects the evolving and significant role of companies as social and transformative agents in the environments in which they operate and how corporate communication plays a strategic role today can lead social transformation,” asserts Clara Fontán, Director of Intelligence & Operations at Corporate Excellence – Centre for Reputation Leadership and Director of the study. Cybersecurity, Brand, New Work Models and AI Digitalisation is the second most worked-on area for large companies, with 6 out of 10 investing efforts in it. There is a growing concern across all business segments for protecting cybersecurity and data privacy, with 41.3% allocating resources to this area. The brand, understood as the platform for stakeholder engagement, consolidates its relevance in this edition, with 48.5% of organisations prioritising it, and ranking among the top five areas most worked on by Spanish companies, particularly in terms of activating purpose through brand positioning. There is an evolution in work models to adapt to the new social reality, essential for attracting and retaining talent. While implementing hybrid work models continues to be the aspect in which organisations invest the most efforts, 2024 also sees a significant increase in companies focusing on promoting collaboration and cross-functionality to break down silos and improve internal team functioning (38.4%), the biggest challenge that organisations are currently facing in this regard. Finally, generative Artificial Intelligence (AI) enters the list of most relevant trends for companies for the first time: 28.5% of organisations are already making progress in this area, primarily aiming to integrate it into business processes (43%) and train employees in its use (35%). Ensuring the ethical use of AI is one of the biggest challenges, although only 24.9% of companies are currently allocating resources to this end. Methodology and Collaborating Entities In addition to social foresight studies by market research experts Punto de Fuga, the analysis of referenced sources, and nearly 2,200 surveys, the ATF 2024 report incorporates a network of over 30 collaborating entities and interviews with 11 experts: Aitor Jauregui, Director at BlackRock for Latin America; Alberto Andreu, Associate Professor at UNAV and Senior Advisor at EY; Ángel Pascual-Ramsay, Professor and Director of Global Risks at the Centre for Global Economy and Geopolitics at ESADE; Daniel Fernández Trejo, General Director of Deep Learning at LLYC; Gabriela González-Valdés, General Director of the Institute of Internal Auditors of Spain; Lucía Carballeda, Co-General Manager & Head of Reputation at Edelman Spain; Manuel Muñiz, Dean of IE School of Politics, Economics & Global Affairs; Nerea de Luis, PhD in Computer Science and AI advocate; Oriol Iglesias, Full Professor & Member of the Board of Directors at ESADE, co-director of The Global CCO Programme; Perrine Bouhana, Managing Director at GlobeScan; and Ramón Pueyo, Head of Sustainability and Corporate Governance at KPMG Spain.


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All about Approaching The Future 2023: trends in reputation and intangible asset report

Published by Unai Admin

18/07/2025

All about Approaching The Future 2023: trends in reputation and intangible asset report

All about Approaching The Future 2023: trends in reputation and intangible asset report

Approaching the Future 2023. Trends in Reputation and Intangible Asset Management is the eighth edition of this annual report, created by Corporate Excellence - Centre for Reputation Leadership in collaboration with CANVAS Sustainable Strategies and worldwide partner Global Alliance for Public Relations and Communication Management. This report aims to deepen business practices and drive innovation in reputation and intangible asset management. This study was developed using a methodology that combines qualitative and quantitative techniques to explore the key trends that are driving the corporate agenda.Professionals agree that the most relevant trends are related to the raison d’être of organisations and corporate values. This result reflects an increased awareness of the strategic role of companies as social, responsible, and transformative agents in the environments in which they operate. Approaching the Future 2023 presents 10 major trends that are shaping the business agenda, offering a cross-cutting and interconnected view of all analysed trends: Sustainability and ESG integrated into business models Responsible leadership for social cohesion Corporate reputation: a strategic priority Corporate communication in the face of new challenges Technology as a transformative lever for organisations Corporate purpose at the heart of business strategy The era of hybrid and flexible work The role of the corporate brand in contexts marked by uncertainty and constant change Corporate governance and the role of the board of directors in ESG management Last call to respond to the climate emergencyExecutive summary, video launch and top learning points are available under free access. Full report required a Reputation Knowledge Centre+ access.Impact and effects of these trends will be presented at WPRF 2023 in Chennai.Write us if you need further info. > Here you can find all the materials of the report in both Spanish and English:

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13/07/2023

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Top Learning Points. Approaching the Future 2023

Published by Unai Admin

17/07/2025

Top Learning Points. Approaching the Future 2023





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Results preview teaser - Approaching The Future 2023

Published by Unai Admin

17/07/2025







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International trend launch. Approaching The Future 2023

Published by Unai Admin

17/07/2025






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Approaching the Future 2023 - FULL REPORT [★ by subscription]

Published by Unai Admin

17/07/2025

Approaching the Future 2023 - FULL REPORT [★ by subscription]





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Executive Summary. Approaching the Future 2023

Published by Unai Admin

17/07/2025

Executive Summary. Approaching the Future 2023





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Trends Map. Approaching The Future 2023

Published by Unai Admin

17/07/2025

Trends Map. Approaching The Future 2023





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Approaching the Future 2022 Report. Trends in Reputation and Intangible Asset Management

Published by Unai Admin

18/07/2025

Approaching the Future 2022 Report. Trends in Reputation and Intangible Asset Management

Approaching the Future 2022 Report. Trends in Reputation and Intangible Asset Management

The biggest trends in intangible asset management: Approaching the Future 2022 is already available Society demands greater commitment from companies, and managing reputation and intangibles is now a strategic must for all businesses Close to 50% of companies are working to define and integrate purpose in their business, and four in ten are working to drive responsible leadership and improve diversity, equity, and inclusion. The 2030 Agenda has regained relevance among organisations as compared to last year, with a commitment to aligning sustainability strategies with the SDGs, while climate action and ESG investment are of less interest. The 7th edition of this annual report, produced by Corporate Excellence - Centre for Reputation Leadership, CANVAS Estrategias Sostenibles and Global Alliance as worldwide partner, brings together the biggest trends in intangible asset management that organisations are concerned about and working on. Madrid, June 16th, 2022. Companies play an increasingly important role in societies, and their own evolution, priorities and decisions depend to a large extent on the socio-economic context. Faced with the recent crisis and uncertainty, citizens are demanding greater involvement, commitment, and social and environmental activism from organisations, and topics such as purpose, reputation and responsible leadership are taking on unprecedented dimensions, forcing companies to integrate them into their business management strategies. This finding has been revealed in the report Approaching the Future 2022: Trends in Reputation and Intangible Asset Management, produced by Corporate Excellence - Centre for Reputation Leadership, CANVAS Estrategias Sostenibles and Global Alliance for Public Relations and Communication Management.Now in its 7th edition, this study has established itself as an essential tool for analysing the biggest global trends in reputation and intangible asset management that impact the business agenda, both from the point of view of issues considered most relevant and those that organisations are working on as a priority. This year, for the first time in the entire series, there is a generalised synchrony and coherence between both perspectives: "The global trends that companies consider most important coincide with those to which they are devoting the most efforts, in an attempt to adapt their corporate reality to the new realities and challenges of the current context", says Angel Alloza, CEO at Corporate Excellence - Centre for Reputation Leadership.Top 5 trends being worked on the most by organisationsApproaching the Future 2022 identifies 16 global trends that are impacting the business agenda. The first of these is corporate purpose, which has been consolidated, climbing four positions as compared to 2021 and becoming not only the trend that organisations are working on the most, but also the most relevant on the map of organisational priorities. Purpose is consolidated as a key business transformation asset in a context of increasing social and regulatory expectations. As a result, almost half of organisations (48.2%) are already working on the integration of purpose in their business, compared to less than 36% in the previous edition. "There is an increasing need for an integrated vision of the value that a company brings to the world and managing the definition and activation of purpose provides that coherence, long-term vision, trust, and reputation, both within and outside of organisations. Purpose is no longer "for" stakeholders; it is something that is created "with" stakeholders, fostering the creation of a collective identity that provides meaning and a force for mass transformation towards a common goal", explains Justin Green, President and CEO at Global Alliance for Public Relations and Communication Management.The second trend being worked on the most by companies is digitalisation. Although there has been a decrease in relevance as compared to the previous edition (from 61.4% to 48.1%), when new working and relationship models imposed by the pandemic forced companies to prioritise this trend, it is still relevant, and it has acquired a degree of consolidation. The third trend that organisations are focusing on is diversity, equity, and inclusion, which has increased in relevance the most as compared to the previous edition of the report, rising eight positions. Compared to 26.5% in 2021, in 2022, 42.8% of companies are dedicating their efforts to driving inclusive growth at a global level in order to move towards more diverse, inclusive, and equitable working environments.The fourth trend being prioritised is responsible leadership, which has increased from 25.3% to 43.3% of companies that are committed to new forms of leadership capable of providing trust and commitment to society, and of becoming drivers of transformation and generators of positive impact. Finally, the management of communication completes the Top 5 trends being worked on the most by companies, with 41.7% of organisations making progress in this area. In the last year, communication has evolved towards increasingly digital and innovative formats with the arrival of disruptive technologies such as the metaverse and advances in artificial intelligence. These technologies offer new immersive and unique experiences, as well as providing organisations with personalised information about their stakeholders. New trends: the importance of trust In the 7th edition of Approaching the Future, two new trends which have never been included in past editions have been introduced: stakeholder trust, in eighth position, and CEO reputation, which is becoming increasingly visible and recognised as a reputational platform, now ranking in fourteenth position. "Trust is an essential factor for business growth and sustainability. While trust in governments has been declining in recent years, for many citizens, companies are positioning themselves as the only trustworthy institution. Companies are aware of the opportunity this represents, and 35.5% are already working on strengthening stakeholder trust through the practice of active listening and dialogue in order to understand what matters most to them and what concerns them", highlights Clara Fontan, Director of Intelligence and Knowledge at Corporate Excellence - Centre for Reputation Leadership. Concern for sustainability is rising againAfter overcoming the worst of the pandemic, when companies prioritised adapting to an unknown reality (as indicated in the previous edition of this report), the 2030 Agenda, as a framework for action for sustainable development, has regained its position of relevance in the list of priorities highlighted by organisations. In fact, it has risen four places and 29.6% of organisations claim to be focusing efforts on contributing to the Sustainable Development Goals (SDGs).However, although the public is increasingly aware that climate change is one of the greatest threats to humanity, and, according to the World Economic Forum, the failure of climate action is the risk with the greatest potential for negative impact on people and the planet, the proportion of organisations working on climate action has reduced from 25.9% in 2021 to 17.7% in 2022. Most companies have not yet set initial targets to reduce their emissions, and only 36.8% have announced plans to tackle their direct emissions or those associated with their energy consumption.Something similar occurs with sustainable and ESG investment (environmental, social and governance), which continues to grow in the biggest international markets, already representing 35.9% of total assets according to Global Sustainable Investment Alliance. Despite this fact, only 9.9% of organisations are working on investing in and attracting sustainable funding.The challenge of measuring and demonstrating business impactWhen organisations were asked about the challenges that they face in terms of implementing measures related to intangible asset management and the trends that are marking their business agenda, two aspects recurred across the board. On the one hand is the ability to measure the impact of actions taken, whether related to driving corporate purpose, responsible leadership, or reputation management. On the other is the ability to demonstrate the scope or impact that these actions have on business activities."Undoubtably, although there is still some way to go, big efforts are being made to integrate intangibles as a strategic element of business management, from the development of reputational metrics to aligning them with employee remuneration systems", explains Clara Fontan, Director of Intelligence and Knowledge at Corporate Excellence - Centre for Reputation Leadership.The report incorporates over 400 national and international sources and studies, a survey of over 600 professionals from 55 countries, and interviews with 9 international experts in the fields studied in this report. In addition, the report has relied on the support of worldwide partner Public Relations and Communication Management; the participation of partner and market research experts Punto de Fuga; and the Chair of Metrics and Management of Intangibles from the Centre for Applied Social Research (CISA) at the University of Malaga. It has also benefited from the expert vision of the following professionals: Aitor Jauregui, Country Head for BlackRock in Iberia (Spain, Portugal and Andorra); Andrea-Bonime Blanc, CEO GEC Risk Advisory; Farid Baddache, CEO Ksapa Sustainability; Gabriela González-Valdés, General Director at the Institute of Internal Auditors in Spain; Italo Pizzolante, Executive Chair and Founding Partner Pizzolante; José Luis Fernández, Director of the Iberdrola Chair of Economic and Business Ethics; Oriol Iglesias, Professor of Brand Management at ESADE Business School, Co-Director of the executive programme The Global CCO, and member of the think tank for brands with a conscious, Medinge Group; Perrine Bouhana, Managing Director GlobeScan; and, Silvina Bacigalupo, President Transparencia Internacional.Furthermore, the report has received support from the following collaborating entities: Association of Public Relations Professionals of Puerto Rico (ARPPR); Marketing Association of Spain; Association for Progressive Communications (APC); B Lab Spain; DCH - International Organization of Human Capital Managers; Association of Communication Directors (Dircom Spain); Association of Communication Directors (Dircom Panama); Spanish Association of Sustainability Managers (ASG), DIRSE; the Iberdrola Chair of Economic and Business Ethics (Comillas Pontifical University); ESADE Business School; Corporate Communication Forum (FOCCO); Leading Brands of Spain Forum; Máshumano Foundation; Forética; GEK Risk Advisory; GlobeScan; Institute of Internal Auditors; International Public Relations Network (IPRN); KANTAR; KPMG; Ksapa; Pizzolante institute of brands with values; Mexican Association of Public Relations Professionals (PRORP); Reputation Lab; University of Navarra - Master in Corporate Reputation (MERC); Weber Shandwick; World Compliance Association; Villafañe & Associates; and Women Action Sustainability (WAS). More information: www.approachingthefuture.com Consult here all the materials of the report.


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Video presentation. Approaching The Future 2022

Published by Unai Admin

17/07/2025







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Executive Summary. Approaching the Future 2022

Published by Unai Admin

17/07/2025

Executive Summary. Approaching the Future 2022





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Presentation of Global Results. Approaching the Future 2022

Published by Unai Admin

25/07/2025

Presentation of Global Results. Approaching the Future 2022




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Teaser. Approaching the Future 2022

Published by Unai Admin

17/07/2025






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Top 15 Trends Worldwide: A Global Perspective

Published by Unai Admin

17/07/2025

Top 15 Trends Worldwide: A Global Perspective





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Approaching the Future 2021 International Launch

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17/07/2025






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Approaching The Future 2021. Materials of the report and presentation

Published by Unai Admin

18/07/2025

Approaching The Future 2021. Materials of the report and presentation

Approaching The Future 2021. Materials of the report and presentation

Do you know the trends that mark the business agenda in 2021?One year after the start of the pandemic, we published a new edition of Approaching the Future 2021: Trends in reputation and management of intangibles, with the aim of helping companies and all professionals to discover the evolution of the main trends that mark the present and future of organizations and to make decisions in an uncertain, complex and changing world that requires a profound transformation.Approaching the Future is presented as a practical and essential tool to know and navigate correctly in this new reality, identifying the 15 most important issues today and in the future, as well as the procedures that organizations are implementing to respond to these challenges, with special focus on Spain and Latin America.We have had the contributions of more than 500 professionals, as well as in-depth interviews with 8 great experts in reputation, brand, sustainability, ethics and transparency. In addition, we have incorporated the prospective of social trends from Punto de Fuga and the analysis of digital ecosystems of the Aula de Mecenazgo para la Innovación de Metrics y Gestión de Intangibles of the University of Malaga.It has been developed by Corporate Excellence - Centre for Reputation Leadership, a leading think tank that focuses on reputation, communication, and intangible assets management, and CANVAS Estrategias Sostenibles, a consultancy company specialized in sustainability, in partnership with Global Alliance for Public Relations and Communication Management as "worldwide partner".Now is your turn! We need your feedback to discover the relevance of this major trends in your country. Participate in the TOP 15 Trends Worldwide Survey: A Global Perspective. As a recognittion for your contribution you will have the opportunity to win two signed hardcopy of Corporate Reputation Handbook and Purpose-Driven Organizations Handbook.

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27/07/2021

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Rethinking Capitalism: The Power of Creative Destruction

Published by Unai Admin

18/07/2025

Rethinking Capitalism: The Power of Creative Destruction

Let’s face it: Capitalism has a bad reputation these days. While it is still seen as the “least awful” of alternatives, many accuse it of having led to exploding inequality, disastrous climate change and fractured societies. For some, these consequences are enough to advocate abandoning it altogether. In The Power of Creative Destruction, economists Philippe Aghion, Céline Antonin and Simon Bunel argue that abolishing capitalism is not the solution. Historically, a market economy has proved to be a formidable engine of prosperity, enabling societies to develop in ways that were unimaginable even two centuries ago. However, market forces cannot be given free rein. The state and civil society both have a role to play in guiding the forces of disruptive innovation that underpin growth. Creative destruction refers to the process by which innovations continually displace existing technologies and ways of doing things. New firms continually step up to the plate and new jobs replace obsoleted ones. In sum, the new destroys the old. This constant innovation is the driving force of capitalism and the catalyst of long-term growth. However, feats of innovation aren’t heaven-sent. They are achieved by entrepreneurs motivated by the prospect of dominating over a given market. The problem is that once they manage that, they often use their might to maintain the status quo and block the natural Darwinian process. The originator of the notion of creative destruction, Joseph Schumpeter (1883-1950), was pessimistic about the future of capitalism. He believed that powerful incumbents – think conglomerates – would eventually dominate every sector. By stifling competition, they would kill innovation and growth softly. On the strength of about 30 years of global research that yielded the body of theory and empirical evidence that Schumpeter lacked, Aghion and his co-authors are unquestionably more upbeat. Advocating a fighting optimism, their book shows there are ways to reward growth-creating innovators and, at the same time, prevent them from entrenching themselves. Revisiting the main enigmas of economic history History has left us with some enigmas about economic growth. Among them: Why did economic growth suddenly pick up from 1820, after being negligible for close to 2000 years? Why do some countries start to converge to the standards of living of developed countries but sputter mid-way? And why have technological revolutions so far not brought about the mass unemployment feared by the Luddites in 19th-century England and by John Maynard Keynes in 1930? The body of knowledge accumulated around creative destruction helps us solve all these enigmas and more, as shown by the following three vignettes. The 1820 starting point of growth: The world per capita GDP was the same in the year 1000 as in the year 1 CE. From there, the average rate of yearly growth barely reached one twentieth of 1 percent. But in 1820, in the United Kingdom and then in France, economic growth suddenly picked up, reaching about 0.5 percent per year for 50 years. Why? Because of the convergence of four factors: greater transfer of knowledge (e.g. the Encyclopaedists, the weakening of overprotective guilds), effective protection of property rights, healthy competition between European nations (inventors not welcome in one country could take their brilliance elsewhere) and the development of financial instruments that dynamised innovation and risk taking. The middle-income trap: Developing countries must implement investment-focused policies to catch up initially, but at some point, they must switch to innovation-promoting policies to compete within the world of developed economies. A crisis can help with that painful transition to a more Darwinian setting. If not, the nation’s growth stalls as the well-fed incumbents guard their turf and block new competition. Technology as the end of jobs: The fear that machines will destroy human jobs began long ago. When William Lee presented a stocking-knitting machine to Queen Elizabeth I in 1589 (in order to get a patent), she refused, declaring: “Consider what thy invention could do to my poor subjects. It would assuredly bring them ruin by depriving them of employment, thus making them beggars.” However, we now have data to show that the impact of automation on jobs is not only positive, but it also increases over time. A 1 percent increase in automation in a plant today increases employment by 0.25 percent after two years and by 0.4 percent after ten years. This effect holds even for unskilled manufacturing workers. Automation generates productivity gains that benefit employees, consumers (via lower prices) and firms (via increased sales). Questioning some common bits of wisdom Creative destruction also gives us a useful lens through which to assess policy prescriptions. For instance, some believe that taxation is the sole method of making growth more inclusive. Along the same line of thinking, some insist we should tax robots, especially since they will (allegedly) create mass unemployment. Others view a complete ban on growth as the best way to fight climate change. Aghion and his co-authors believe these policies are misguided and explain why in the book. Taxation is but one economic tool; it is just as important for the state to promote innovation to boost social mobility and raise standards of living. The focus should be on investing in education and science. More recently, the state has emerged as an investor in innovation. This is a smart move. Taxing robots, or any new technology for that matter, goes against innovation. The state should always preserve the free entry of goods and services in the market. Will some jobs be displaced in the process? Of course, and that is why creative destruction has an important caveat, or perhaps corollary: The state must insure employees against the potentially adverse consequences of job loss. Zero or negative growth is not the best response to climate change. Green innovation is. However, a laissez-faire economy doesn’t move spontaneously towards green innovation. On the contrary, polluting firms will naturally prefer to innovate in the same polluting technologies. So, the state must provide incentives to redirect innovation efforts. Several levers can achieve this: a carbon tax, subsidies for green innovation, technology transfers to developing countries and carbon tariffs to discourage pollution havens. Civil society also has an important role to play to persuade firms to pursue green technologies. Rethinking the future of capitalism Lastly, the creative destruction paradigm helps us rethink capitalism. The Covid crisis has revealed the pitfalls of capitalism, which turn out to be very different across countries. The United States has a great model of innovation, but its social model is broken. Europe (broadly) offers social welfare, but its innovation model is inadequate. The book explains how we should work towards a model of capitalism that combines the dynamism of the US innovation with the social protections afforded by a country like Denmark. Despite Schumpeter’s initial gloom, capitalism isn’t doomed. There are ways to overcome its apparent curse. But just like innovation isn’t heaven-sent, fixing capitalism will require coordinated action, based on a solid understanding of the determinants of economic growth and prosperity. States should pursue two types of policies simultaneously: protecting intellectual property rights on innovation on the one hand and safeguarding competition on the other. Merger and acquisition policies should also take into account the impact on innovation. The entry of smaller, potentially more innovative players, cannot be left to the good will (or distraction) of the incumbents. Optimal innovation policies will never please the firms that have already achieved market dominance. Proper separation of power, supported and enforced by a strong civil society, is required to ensure minimal collusion between behemoth firms and the executive power. Think of it as a “magic triangle” that includes the state, the market and civil society acting as a watchdog. Does fixing capitalism somehow involve getting rid of the 1%? The short answer is no. While innovation does help the top 1% get richer, it doesn’t impact the Gini coefficient (an index of wealth inequality within a nation). This is because innovation lifts society as a whole through promoting social mobility. This contrasts with lobbying, which also helps the rich get richer, but does nothing for innovation on top of increasing the Gini coefficient. In sum, society can reward innovators, but should never leave them in charge of policymaking. As the engine of prosperity, creative destruction can generate a growth that is sustained, inclusive and green. Innovation is indispensable to growth, and capitalism is indispensable for innovation, but it needs to be regulated. Philippe Aghion is a Professor of Economics at INSEAD. He is also a Professor at the College de France, a visiting professor at the London School of Economics and a fellow of the Econometric Society and of the American Academy of Arts and Sciences. Aghion, P. (June 14, 2021). Rethinking Capitalism: The Power of Creative Destruction. INSEAD Knowledge. Recovered from: https://knowledge.insead.edu


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Proposed climate law divides France

Published by Unai Admin

18/07/2025

Proposed climate law divides France

Less meat in French cafeterias. Bans on short-distance flights. Gas heaters on cafe terraces would be outlawed. As President Emmanuel Macron moves to make France a global champion in the fight against climate change, a wide-ranging environmental bill passed by the French National Assembly this month promises to change the way the French live, work and consume. It would require more vegetarian meals at state-funded canteens, block expansion of France's airports and curb wasteful plastics packaging. Polluters could be found guilty of "ecocide," anew offense carrying jail terms of up to 10 years for destroying the environment. If Mr. Macron gets his way, the fight against climate change would even be enshrined in the French constitution through a referendum. But those lofty ambitions are running into a barrage of resistance. Environmentalists and_ politicians from France's Green party, rather than backing the legislation, have accused Mr. Macron's government of watering down ambitious measures and putting corporate interests above tough proposals by a 150-person "citizens climate panel," which Mr. Macron himself convened last year to address climate concerns. France's influential business federations have joined forces to push back against what they view as overregulation and job-killing populism that could threaten their ability to recover from the economic blow of the Covid-19 pandemic. The bill now moves to the Senate where, if approved, it would go to a joint parliamentary commission for final approval. If the commission fails to come to an agreement, the National Assembly, which is controlled by Mr. Macron's party, will have the final say. Mr. Macron's signature is not necessary for the bill to become law. The clash comes at a delicate time for Mr. Macron, who is facing re-election next year against an array of challengers. He prides himself as a leader on climate issues and wants the legislation to bolster his credentials. "We must find a smooth transition to a low-carbon economy," he said shortly after taking office. "Let's face it: There is no Planet B." But the sharp divide could destabilize one of his major campaign platforms before the voting even starts. On a recent Sunday in cities throughout France, tens of thousands of climate activists took to the streets to denounce the legislation. They issued a warning that was also an insult: The bill had been so diluted that France would be unable to meet its commitments to the Paris climate agreement, the 2015 international accord signed in its own capital to avert a climate catastrophe. Extinction Rebellion activists in Paris chained themselves to gates of the National Assembly and lit smoke bombs that poured out a thick red fog. Camille Etienne, 22, a leading figure among climate change demonstrators, said in an interview that the bill would amount to a "greenwashing" operation. Mr. Macron has sought to burnish his image as a champion of the Paris accord ever since former President Donald J. Trump withdrew the United States from the agreement in 2017. The same day, a defiant Mr. Macron rebuked the American president, riffing off Mr. Trump's campaign slogan as he declared from the Elysée Palace that he wanted to "make the planet great again." Since then, European countries have enacted laws to cut greenhouse gas emissions at least 40 percent by 2030 compared to 1990 levels. The European Union agreed to anew 55 percent reduction target in December. Environmental concerns have gained traction in France as the climate crisis becomes more pressing. Cafe terraces (warmed by outdoor heaters) and holiday skating rinks (chilled to create ice in above-freezing temperatures) have prompted consciousness-raising. Elite university students are demanding climate change curriculums, and local mayors have defied the national government in banning some pesticides. Mr. Macron last fall sought to make the transition to a greener economy a cornerstone of a 100 billion euro, or $122 billion, "Relaunch France" stimulus package to reverse the pandemic-induced recession. With the climate becoming a major election theme, he faces fresh pressure as France's main Green party rises on the political stage, mirroring a wider rise of environmental parties around Europe. Even Marine Le Pen, the leader of the far-right National Rally and Mr. Macron's chief rival for the presidency, has embraced her own brand of downto-earth environmentalism. But Mr. Macron has had to walk a tightrope between addressing climate change and economic insecurity since the Yellow Vest movement exploded across France in late 2018, Those violent protests began as a grass-roots rebel lion among working class people after the government raised taxes on gasoline and diesel to fight global warming. Mr. Macron attempted to defuse the anger by setting up a panel of randomly selected people from across France to formulate proposals, with the help of experts, for ambitious climate legislation balanced with economic fairness. The climate bill, which now heads to the Senate, whichis dominated by opposition conservatives, for debate in June, stems largely from those proposals. It prohibits domestic flights for journeys that can be made by train in less than 2.5 hours (unless they connect to an international flight). Outdoor gas heaters used to warm cafe patrons would be banned beginning next April. Supermarkets will have to reduce wasteful plastics packaging, while clothing and other goods would carry an "ecoscore" of their environmental impact. Landlords won't be allowed to rent poorly insulated properties, and advertising for fossil fuel energy, like gasoline, would be phased out. Business groups have zeroed in on certain measures that they say amount to costly overregulation. They have also cast doubt on the wisdom of having citi zens propose climate change policy. The main employers lobby, the Movement of the Enterprises of France, or Medef, which represents large corporations, went through the citizens' group's proposals line by line, highlighting those considered to be the harshest and recommending softened versions of the text, according to Journal du Dimanche, a weekly newspaper. Medef was especially opposed to making "ecocide," - defined as deliberate and lasting pollution - a crime. Geoffroy Roux de Bézieux, Medef's president, told a Senate panel that his members worried that it would stigmatize business and penalize economic activity. He said lawmakers, not random citizens, should write laws. Tougher rules could also hobble companies weakened by the pandemic, Francois Asselin, president of the Confederation of Small and Medium-Sized Enterprises, told the panel. "So be careful not to bring them to their knees with too restrictive measures," he said. BASE, a German multinational chemical company and a major producer of pesticides with operations in France, was more blunt. In a post on its website, it singled out recommendations by the citizens panel to reduce pesticides and fertilizer in agriculture, saying they "reflect a profound ignorance of reality." "In seeking to re-energize democracy,' BASF added, referring to the citizens' proposals, "aren't we running the risk of weakening our democratic institutions and fueling populism?" The criticism may be having an impact. In the legislation passed by the National Assembly, "ecocide" was changed from being labeled a crime, as proposed by the citizens' panel, to a civil offense. It could still result in jail time. The proposal to ban short-haul flights originally barred trips that could be covered by a four-hour train trip. After airlines and airports objected, the rule was scaled back to cover only flights that could be replaced by a rail trip of 2.5 hours - achange that barred only eight routes. A measure that would have made it more difficult to pave over empty fields and lots for Amazon-style warehouses now exempts e-commerce companies. The climate bill in its current form will make it nearly impossible for France to fulfill its Paris accord pledges by 2030, the High Council on Climate, an independent body, warned in arecent report. Inresponse, the government said that the modified measures, combined with other climate change regulations passed since 2017, would allow it to meet the goals. But another independent study commissioned by the government, by the Boston Consulting Group, concluded that France would fall short even in the best-case scenario. And this month, the French Senate replaced language that would have the constitution "guarantee" the fight against climate change with wording stating that France would "protect" the climate. Daniel Boy, a political scientist at Sciences Po university in Paris, said that environmentalism "was not really part of Macron's DNA." But he added that Mr. Macron had favored a "pragmatic ecology" made of small steps and concrete measures, reflecting a liberal electorate sensitive to economic interests, and had opposed "a more radical ecology" with wide-ranging changes. That cautious approach is what has drawn the ire of many climate activists - and pulled protesters back into the streets. Ms. Etienne, the activist, said the climate bill in its current form amounted to a "betrayal" of the citizens' convention's proposals and a wasted opportunity for Mr. Macron. "They had the science, the people, the political moment,' she said. "To deliberately lack the will and fall for industry lobbies now - I can't think of any other word than betrayal." Alderman, L. (May 22, 2021). Proposed climate law divides France. The New York Times. pp. 7


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Presentation Video: Approaching The Future 2021

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Approaching the Future 2021: Trends in reputation and management of intangibles

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The promoters of the new communication model offer exclusive express sessions to members of the Global Alliance associations

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The promoters of the new communication model offer exclusive express sessions to members of the Global Alliance associations

The promoters of the new communication model offer exclusive express sessions to members of the Global Alliance associations

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