French Law Revisits Corporate Purpose

In October 2018, the French National Assembly passed Article 61 of the government’s Action Plan for the Business Companies’ Growth and Transformation (Loi PACTE). Article 61 follows recommendations made by business leaders Jean-Dominique Senard, CEO of Michelin, and Nicole Notat, founder of Vigéo, on how to make businesses more sustainable and in line with collective social and environmental interests.