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Nature as a shareholder : a revolution for organizational governance

Wednesday the 18th of December 2024

Nature as a shareholder : a revolution for organizational governance

In his latest book, "La nature au travail" (Nature at work), Frantz Gault invites us to rethink the relationship between humans and nature and presents his concrete proposals to give nature a voice in corporate governance.

You just published La nature au travail (Nature at work) (EPFL), a book as unprecedented as it is crucial. Before discussing it, could you elaborate on the founding concept of your reflection: natura laborata?

Frantz Gault: Unlike some popular theories, my book does not claim that nature works (natura laborans). Rather, I start from the premise that nature is put to work (natura laborata) by humans, especially by us Moderns. Beyond the nod to Spinoza, this is an observation anyone can make, which allows us to think about nature differently—not as a commodity or raw material, but as a subject with which we maintain a relationship, a working relationship. This is a powerful lens because it instantly transforms our view of nature, without invoking legal arguments or mystical musings. Today, we can all sense that nature is reduced to a state of slavery. And one can ask: What other working relationship could we establish with it to better respect it?

You suggest, for example, considering nature as a shareholder in our companies. Could you elaborate on your concrete proposals?

The scenario of thinking of nature as a shareholder is the most ambitious. First, because it allows for sharing dividends and funding ecosystem regeneration. But also because it gives nature a voice, influence, and a vote on the board of directors. Some companies are already doing this, but others prefer less radical scenarios. In the book, I also propose two additional scenarios. One involves nature asserting its interests through unions because, after all, if nature works, then unions must defend its interests. Lastly, there is the idea of nature having a seat on the executive committee, as is becoming more common. Each company can choose the formula that works best for them.

Could you present some companies that have advanced along this path of representing nature in their governance?

Yes, it is important to give examples to demonstrate the feasibility of these various scenarios. The oldest and most numerous examples can be found in Belgium, where, since 2021, around ten companies have set up committees to represent nature and future generations to their leaders. Readers are probably familiar with other more recent examples, such as Patagonia and Faith in Nature. However, the most inspiring example seems to be Norsys. In this French company with 750 employees, all three scenarios I mentioned have been adopted. At various levels of governance, several nature representatives coexist in a High Council. And the cherry on top: nature is also a shareholder, can summon the board of directors, and even has a veto right over the company’s strategy! This is a significant step forward because when I first began working on this topic in 2020, there were no examples, and I was mostly met with… ridicule (laughs).

With this book, you’re attempting a high-wire act: reconciling business and nature. But do our mental and legal frameworks allow for such a project?

Legally, it is true that nature cannot be treated as a true worker or shareholder because our old countries refuse to grant it legal personhood. However, there are various tricks that can circumvent this limitation, which is why my scenarios have been easily applied. Mentally, however, it’s more complicated... It’s true that many of us want to save the planet, but there’s confusion about what this fight actually means. Often, it’s humans, especially future generations, we’re trying to save. We remain in an anthropocentric, Western mindset, which makes me doubt our ability to change the course of history… That being said, a breach has been opened by eminent thinkers like Philippe Descola and Bruno Latour, and I’ve walked through that gap to raise a question too often ignored by these intellectuals: how can we rethink the economy and business if nature emancipates itself from its condition as raw material?

You’ll be a speaker at the Université de la terre on March 14, 2025. What do you want to say that’s essential during your talk?

I will, of course, remind the audience that at the heart of the ecological crisis lies our way of thinking about nature—our habit of treating it as a resource. Fortunately, this is not a foregone conclusion, as it’s never more than an axiom, a belief. It is possible to change this paradigm, and that’s what I’m trying to do modestly by giving nature a voice in the governance of our organizations. By March, I’ll also have more material to demonstrate the value of this new way of organizing our companies. Indeed, the company Norsys, which I mentioned earlier, has tasked me with representing nature on its board of directors. I am truly honored, while also fully aware of the scale of the task. To paraphrase Victor Hugo: nature speaks, but we’ve lost the habit of listening!

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