{"id":12215,"date":"2023-10-03T22:21:11","date_gmt":"2023-10-03T20:21:11","guid":{"rendered":"https:\/\/initinere.fr\/?p=12215"},"modified":"2026-04-07T12:37:58","modified_gmt":"2026-04-07T10:37:58","slug":"le-reporting-sur-la-durabilite-ne-doitpas-masquer-la-necessaire-reformedes-entreprises-europeennes","status":"publish","type":"post","link":"https:\/\/initinere.fr\/?p=12215","title":{"rendered":"Le reporting sur la durabilit\u00e9 ne doit pas masquer la n\u00e9cessaire r\u00e9forme des entreprises europ\u00e9ennes"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"12215\" class=\"elementor elementor-12215\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-96ccd20 elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"96ccd20\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container 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elementor-element-af78c0e elementor-widget elementor-widget-image\" data-id=\"af78c0e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"690\" height=\"441\" src=\"https:\/\/initinere.fr\/wp-content\/uploads\/2023\/10\/Capture-decran-2025-07-31-141531.png\" class=\"attachment-medium_large size-medium_large wp-image-12484\" alt=\"\" srcset=\"https:\/\/initinere.fr\/wp-content\/uploads\/2023\/10\/Capture-decran-2025-07-31-141531.png 690w, https:\/\/initinere.fr\/wp-content\/uploads\/2023\/10\/Capture-decran-2025-07-31-141531-300x192.png 300w\" sizes=\"(max-width: 690px) 100vw, 690px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4af2e09 elementor-widget elementor-widget-heading\" data-id=\"4af2e09\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Publi\u00e9 le 3 octobre 2023 par Le Monde<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c4c2e51 elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"c4c2e51\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0c05e7d\" data-id=\"0c05e7d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8a83a63 elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"8a83a63\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a1bff61\" data-id=\"a1bff61\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-43d5379 elementor-widget elementor-widget-halstein_core_section_title\" data-id=\"43d5379\" data-element_type=\"widget\" data-widget_type=\"halstein_core_section_title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"qodef-shortcode qodef-m  qodef-section-title qodef-alignment--left  \">\n\t\t\t<h4 class=\"qodef-m-title\" >\n\t\t\t\t\tDans sa chronique, le professeur des sciences de gestion Armand Hatchuel interroge les cons\u00e9quences de la directive europ\u00e9enne CSRD, qui oblige les soci\u00e9t\u00e9s \u00e0 produire des informations sur leurs impacts sociaux et environnementaux, sans obligation de r\u00e9sultat.\t\t\t<\/h4>\n\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f845353 qodef-standard-images-on-top--no elementor-widget elementor-widget-qi_addons_for_elementor_interactive_link_showcase\" data-id=\"f845353\" data-element_type=\"widget\" data-widget_type=\"qi_addons_for_elementor_interactive_link_showcase.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"qodef-shortcode qodef-m qodef-qi-interactive-link-showcase qodef-layout--standard qodef-hover--underline\">\n\t<div class=\"qodef-m-items\">\n\t\t<a itemprop=\"url\" class=\"qodef-m-item qodef-e\" href=\"https:\/\/www.lemonde.fr\/emploi\/article\/2023\/10\/03\/le-reporting-sur-la-durabilite-ne-doit-pas-%20masquer-la-necessaire-reforme-des-entreprises-europeennes_6192165_1698637.html\" target=\"_self\">\n\t<span class=\"qodef-e-title\"><span class=\"qodef-e-inner-title\">Lire l&#039;article<\/span><\/span>\n\t<\/a>\n\t<\/div>\n\t<div class=\"qodef-m-images\">\n\t\t<div class=\"qodef-e-image qodef-position--left elementor-repeater-item-ee69f87\">\n\t<\/div>\n\t<\/div>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6ec71f0 elementor-section-boxed elementor-section-height-default elementor-section-height-default qodef-elementor-content-no\" data-id=\"6ec71f0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e6c8dc5\" data-id=\"e6c8dc5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-100c222 elementor-widget elementor-widget-text-editor\" data-id=\"100c222\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Entreprises. En\u00a02024 entrera en application la directive europ\u00e9enne sur la publication<br \/>d\u2019informations extra-financi\u00e8res relatives \u00e0 la durabilit\u00e9, dite \u00ab\u00a0CSRD\u00a0\u00bb (Corporate<br \/>Sustainability Reporting Directive). Elle impose aux entreprises d\u2019\u00e9valuer leurs impacts sur<br \/>l\u2019environnement et la soci\u00e9t\u00e9 en suivant des standards d\u00e9finis par l\u2019Union europ\u00e9enne (UE).<br \/>La directive inclut les impacts sur le climat, la biodiversit\u00e9, l\u2019eau et les ressources marines, et<br \/>l\u2019\u00e9conomie circulaire.<\/p><p>Sur le plan social, elle concerne aussi les droits des travailleurs tout au long de la cha\u00eene de<br \/>valeur. Cette directive a \u00e9t\u00e9 largement salu\u00e9e, tant par les gouvernements que par des<br \/>ONG.\u00a0Cependant, ce consensus ne doit pas masquer les limites du texte.<\/p><p>D\u2019une part, ces mesures n\u2019imposent pas aux entreprises de r\u00e9duire ou d\u2019am\u00e9liorer leurs<br \/>impacts, mais seulement de fournir une information fiable et standardis\u00e9e sur ceux-ci.<\/p><p>D\u2019autre part, les sciences de gestion ont souvent rappel\u00e9 que l\u2019obligation de reporting<br \/>n\u2019entra\u00eene pas n\u00e9cessairement un comportement vertueux\u2026<\/p><p>\u00a0<\/p><p><strong>Des choix \u00e9clair\u00e9s<\/strong><\/p><p>Certes, ces donn\u00e9es pourraient \u00eatre pr\u00e9cieuses pour l\u2019action des ONG et d\u2019autres acteurs<br \/>concern\u00e9s. Mais pour influer directement sur l\u2019action des entreprises, la directive cherche<br \/>avant tout \u00e0 fournir aux investisseurs une information extrafinanci\u00e8re fiable et comparable qui<br \/>leur permettra de faire des choix \u00e9clair\u00e9s et d\u2019am\u00e9liorer leurs propres impacts. La logique de<br \/>la directive est donc fond\u00e9e sur l\u2019id\u00e9e \u2013 peu habituelle, il est vrai \u2013 que les investisseurs et les<br \/>actionnaires sont engag\u00e9s en faveur de la durabilit\u00e9, et qu\u2019il leur manquait une information<br \/>cr\u00e9dible et normalis\u00e9e pour d\u00e9cider.<\/p><p>Or, qu\u2019est-ce qui garantit que les investisseurs ne privil\u00e9gieront pas la rentabilit\u00e9 et seront<br \/>sensibles aux nouveaux reportings\u00a0? Et s\u2019ils n\u2019en tiennent pas compte, quel sera alors le<br \/>comportement des entreprises\u00a0? Forc\u00e9es de mesurer et de publier des r\u00e9sultats qui laissent<br \/>indiff\u00e9rents leurs futurs actionnaires, elles se limiteront \u00e0 une conformit\u00e9 minimale \u00e0 leurs<br \/>obligations, en m\u00e9nageant leur r\u00e9putation vis-\u00e0-vis des ONG et du grand public. <br \/>Ce ph\u00e9nom\u00e8ne s\u2019observe depuis longtemps dans le reporting financier. Un devoir majeur des<br \/>entreprises est leur contribution fiscale.<\/p><p>On sait, h\u00e9las, que le reporting du b\u00e9n\u00e9fice imposable, m\u00eame sinc\u00e8re et juste, n\u2019a pas arr\u00eat\u00e9<br \/>les tentations d\u2019optimisation fiscale\u2026 L\u2019UE esp\u00e8re-t-elle que le reporting sur la durabilit\u00e9<br \/>permettra aux dirigeants d\u2019entreprise d\u2019imposer \u00e0 leurs actionnaires un nouvel arbitrage entre<br \/>rentabilit\u00e9\u00a0et durabilit\u00e9\u00a0? C\u2019est le pari (trop\u00a0?) risqu\u00e9 de la CSRD.<\/p><p>\u00a0<\/p><p><strong>Des engagements de durabilit\u00e9 consentis<\/strong><\/p><p>Mais ne doit-on pas inverser cette logique\u00a0? L\u2019UE ne devrait-elle pas imposer \u00e0 l\u2019entreprise,<br \/>donc aux investisseurs, une responsabilit\u00e9 sociale et environnementale inh\u00e9rente \u00e0 leur<br \/>activit\u00e9\u00a0? En d\u00e9coulerait alors des engagements de durabilit\u00e9 consentis, assign\u00e9s aux<br \/>dirigeants, et le reporting qui en permet l\u2019\u00e9valuation.<\/p><p>A l\u2019instar de la loi Pacte fran\u00e7aise (Plan d\u2019action pour la croissance et la transformation des<br \/>entreprises, de 2019), cette logique conduirait \u00e0 r\u00e9former le droit des soci\u00e9t\u00e9s dans l\u2019UE.<br \/>D\u2019ailleurs, en\u00a02020, le Parlement europ\u00e9en avait demand\u00e9 \u00e0 la Commission d\u2019\u00e9tudier une<br \/>directive sur la gouvernance d\u2019entreprise durable ( Sustainable Corporate Governance ) qui<br \/>donnerait un cadre l\u00e9gal unifi\u00e9 aux engagements sociaux et environnementaux des entreprises.<\/p><p>On peut imaginer les difficult\u00e9s d\u2019un tel projet. Mais il ne faudrait pas que les efforts<br \/>consacr\u00e9s \u00e0 mettre en place des indicateurs de durabilit\u00e9 emp\u00eachent une r\u00e9forme qui<br \/>engagerait les entreprises dans l\u2019action et non dans le seul reporting.<\/p><p><br \/><strong>Armand Hatchuel<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Publi\u00e9 le 3 octobre 2023 par Le Monde Dans sa chronique, le professeur des sciences de gestion Armand Hatchuel interroge les cons\u00e9quences de la directive europ\u00e9enne CSRD, qui oblige les soci\u00e9t\u00e9s \u00e0 produire des informations sur leurs impacts sociaux et environnementaux, sans obligation de r\u00e9sultat. Lire l&#039;article Entreprises. En\u00a02024 entrera en application la directive europ\u00e9enne [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[17,18],"tags":[],"class_list":["post-12215","post","type-post","status-publish","format-standard","hentry","category-economy","category-finance"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Le reporting sur la durabilit\u00e9 ne doit pas masquer la n\u00e9cessaire r\u00e9forme des entreprises europ\u00e9ennes - IN ITINERE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/initinere.fr\/?p=12215\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Le reporting sur la durabilit\u00e9 ne doit pas masquer la n\u00e9cessaire r\u00e9forme des entreprises europ\u00e9ennes - IN ITINERE\" \/>\n<meta property=\"og:description\" content=\"Publi\u00e9 le 3 octobre 2023 par Le Monde Dans sa chronique, le professeur des sciences de gestion Armand Hatchuel interroge les cons\u00e9quences de la directive europ\u00e9enne CSRD, qui oblige les soci\u00e9t\u00e9s \u00e0 produire des informations sur leurs impacts sociaux et environnementaux, sans obligation de r\u00e9sultat. 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IN ITINERE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/initinere.fr\/?p=12215","og_locale":"fr_FR","og_type":"article","og_title":"Le reporting sur la durabilit\u00e9 ne doit pas masquer la n\u00e9cessaire r\u00e9forme des entreprises europ\u00e9ennes - IN ITINERE","og_description":"Publi\u00e9 le 3 octobre 2023 par Le Monde Dans sa chronique, le professeur des sciences de gestion Armand Hatchuel interroge les cons\u00e9quences de la directive europ\u00e9enne CSRD, qui oblige les soci\u00e9t\u00e9s \u00e0 produire des informations sur leurs impacts sociaux et environnementaux, sans obligation de r\u00e9sultat. 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