L'évolution du rôle des sociétés depuis la loi PACTE ; The evolution of the role of companies since the PACTE Law

The article comments on the recent Law, adopted by the French Parliament last May (Law No. 2019-486 of 22 May 2019, the so-called “Loi PACTE”), relating to the growth and transformation of businesses, highlighting its objectives (mainly, the development of corporate social and environmental responsibility), the process that led to its adoption and its most notable amendments to French company law.The analysis firstly focuses on the new paragraph added to Article 1833 of the French Civil Code – which applies to all companies – that explicitly mentions the concept of interest of the company and provides that directors, in managing a company, shall pursue this interest, while taking into due consideration social and environmental issues in company activities. Secondly, this article focuses on the introduction of the chance for companies to specify in their articles of association “a raison d’être”, that is, the principles a company gives to itself to guide its business policy and strategic decisions. Thirdly, it focuses on the new status of “société à mission”, which constitutes a middle way between social and solidarity economy (SSE) and capitalism.