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 ESG performance and employee share ownership

Environmental, Social and Governance performance is a key point for employee shareholders.

A new research work identifies a very strong link between a company's ESG performance and employees investing in employee share plans.

After ESG incidents, employees are less likely to invest and they invest smaller amounts in their company’s stock. Incidents in the “Social” category, especially those related to working conditions and local incidents, are the ones that affect these investment decisions the most. Pecuniary motives are unlikely to explain this finding. Overall, the results suggest that ESG policies directly impacting the well-being of employees affect employee satisfaction and loyalty the most.

These results indicate that employees do not react according to purely financial motivations. Today, employees are increasingly concerned by the corporate social responsibility practised by their companies.

Employees are also highly sensitive to ESG policies when they invest in their employer’s shares. However, of the various aspects of ESG policy, those directly associated with working conditions have the strongest impact for employee shareholders.

The schizophrenia sometimes attributed to employee shareholders does not stand up to examination of the facts.

See the full study   

Press review
We have a selection of 34 remarkable articles in 7 countries in December 2022: Belgium, France, Morocco, Romania, Slovenia, UK, US.
Belgium: Belgium sees only advantages in employee share ownership.
France: New employee share plans for Believe, for Renault, for Alstom. A new workers' cooperative to save Scopelec, the largest workers' cooperative in France? Bad blow for employee shareholders at EDF. The Socialist Party wants to make employee share ownership compulsory in all French companies.
Morocco: Growth of employee share ownership in Morocco.
Romania: Employee share plans are still a rarity in Romania.
Slovenia: Call for help from Domel, the largest employee-owned company in Slovenia against the threats of the new government.
UK: Labour Party proposal of a new employee share ownership schemes bill, which would give low-income workers preferential access to schemes. Every day a new SME is transferred to employees. This month, among others, the cases of: Leader Marketing Partnership, Inspired Cycle Engineering, Creed Communications, Camargue, YesTax, Bisley, Peter Ambrose, Futureserv, Franklin Ellis Architects, Bennett Oakley Solicitors, Dent Instrumentation, Sledge, SWM Partners.
USA: Private Equity is this part of the investment world that everybody loves to demonize.

The full press review is available on:


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Marc Mathieu
Secretary General
Avenue Voltaire 135, B-1030 Brussels
Tel: +32 (0)2 242 64 30 - Fax: +32 (0)2 791 96 00
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EFES' objective is to act as the umbrella organization of employee owners, companies and all persons, trade unions, experts, researchers, institutions looking to promote employee share ownership and participation in Europe.