From now on, “cultural and sporting issues” must also be considered by companies. This new obligation is imposed on the boards of directors and management boards of public limited companies by the law of 2 March 2022 aimed at democratising sport in France.
This movement to extend the considerations that should guide the actions of companies began with the law of 22 May 2019 (the famous, “Loi Pacte”) which provided the obligation for companies to operate having regard to the “social and environmental challenges” of their activities.
It should be noted that cultural and sporting issues only concern public limited companies, as the Civil Code was not amended on this occasion.
This should be seen as a form of specialisation of the limited company. Indeed, the same law of 2 March 2022 adds a new statement to be provided in the extra-financial performance declaration specific to public limited companies.
As a reminder, provided they exceed certain thresholds in terms of balance sheet, turnover and number of employees, they must include in their management report a declaration containing information relating in particular to the consequences of the company’s activity on climate change, commitments in favour of sustainable development, the circular economy, the fight against food waste, and collective agreements concluded in the company.
From now on, they must also include information on “actions to promote the practice of physical and sports activities”.
