In the United States, inclusion policies are being challenged in all sectors. Marie-Aude Thépaut, CEO of CNP Assurances, warns us about the possibility of similar reversals in France and calls on companies to remain models of stability and equity.
Business policies on promoting diversity have once again come under attack in the United States in recent weeks. French and European companies are being “invited” to purely and simply abandon their commitments in this area.
Major US companies and employers are giving up on their diversity policies and cutting their environmental and social commitments. This movement is afoot across all activity sectors, from tech and entertainment to retail and automotive.
We need to see this as a wake-up call, and one that concerns us directly, as many of these companies are multinational companies with employees, suppliers and customers around the world.
Social progress on the decline
If these companies give up on their proactive policies on diversity, it will necessarily have a knock-on effect internationally. The first companies to drop these commitments are no doubt those that from the outset were reluctant to implement them or did so only under public duress. So what kind of value will their future commitments have?
This shift is calling into question decades of economic and social progress. Any reversal on the part of our companies concerning gender equality, diversity, equity and inclusion would have far-reaching implications for the future of our economies and societies.
As a business leader and, more specifically, as a public insurer, I am extremely worried that policies that were just beginning to produce results, after years of dialogue and negotiations, will be wiped out with the stroke of a pen. Looking beyond the fundamental question of equal opportunities, this makes no sense economically.
Diversity is a corporate value
First, all the studies in the last 30 years have consistently shown, supported by figures, that diversity fosters the strong financial performance and productivity of businesses and their ability to innovate and increase their market share.
Second, reversing such commitments would undoubtedly undermine a company’s credibility with its customers, employees and all its stakeholders. Company values cannot be adjusted on a whim. They are the foundation of its identity. They unite employees around a shared project that drives the company and attracts new talent.
We have the opportunity to prove that inclusion is a strength for our businesses and for society.
Marie-Aude Thépaut
At CNP Assurances, a subsidiary of La Banque Postale, we work every day to ensure that no-one is excluded, regardless of their origin, identity, gender, disability or situation. This is true for our employees, and we are proud to have obtained the score of 100/100 in the 2024 professional gender equality index. It is also true for our policyholders.
Our model is based on the idea that solidarity is a fundamental principle that must inform and guide all our actions, from the simplest to the most strategic.
In accordance with the La Poste group's values of openness and fairness, we are working to push the limits of insurability for all life courses and give everyone a chance. We illustrated this commitment recently by enabling women who have survived breast cancer to obtain loan insurance without additional premiums or coverage reductions linked to their cancer, as soon as they end their treatment protocol.
Implementation of proactive policies
In France today, the law serves as a safeguard. The country’s laws have served to raise our awareness and compelled us to implement principles that are now essential. For example, under the Copé-Zimmermann law, women must account for at least 40% of the members of the boards of directors and supervisory boards of listed companies or companies with over 250 employees, while the Rixain law requires the same for management committees. But will this be true tomorrow? If these laws were to disappear, how many companies would give up on these commitments?
French, European and international companies, including CNP Assurances, must play their part here. We have a duty to implement visible, concrete and proactive policies, develop broadly accessible products and services, and support projects that champion diversity. Businesses must continue to stand as models of stability, equity and solidarity. Today, in the face of these headwinds, we have the opportunity to prove, and say loud and clear, that inclusion is a strength for our businesses and for society. Diversity drives sustainable growth and boosts our resilience to the growing number of societal and economic crises. If we are to build a fairer, more united and prosperous society, this is not an option; it is a necessity.
Marie-Aude Thépaut,
Chief Executive Officer of CNP Assurances