By 2025, over 50.000 companies worldwide will be required to disclose their sustainability impacts under an upcoming EU regulation. This regulation isn’t just about compliance, it is about transforming the way the value chain operates globally.
What is the CSRD?
The Corporate Sustainability Reporting Directive (CSRD) is a recent EU regulation requiring extensive sustainability reporting from large companies on Environmental, Social, and Governance (ESG) aspects. All companies that fall within this regulation will follow the European Sustainability Reporting Standards (ESRS), thereby proving a first crucial step towards more transparency and a sustainable global economy.
Why do we need change?
Our planet is facing significant environmental challenges: the climate is changing, we are depleting natural resources at an unsustainable rate, and chemical run-off from fertilizers have been linked to human health issues.
- According to WWF, we have lost approximately 70% of vertebrate species populations since 1970
- The food sector is responsible for roughly 25% of the global energy use
- And for nearly 1/3 of the total greenhouse gas emissions.
Why does the CSRD matter?
The (CSRD) is not just another regulatory requirement; it represents a fundamental shift towards sustainability and transparency within the corporate landscape, the CSRD compels corporations to integrate sustainability objectives into their core operations, thereby enhancing their overall efficiency and resilience.
- Transparency: Central to the CSRD is the emphasis on transparency as the foundational element for transitioning towards a more environmentally and socially conscious global economy, rather than offering instant performance feedback.
- Driving Towards a Sustainable Future: It encourages companies to adopt proactive measures towards reducing their environmental footprint, improving social impacts, and fostering ethical governance practices. By embracing these principles, businesses not only meet regulatory requirements but also position themselves as leaders in sustainability, attracting conscientious consumers and investors alike
Exploring the essentials with our ESG Controller
In our informative video, our ESG controller, Asia, will explain everything you need to know! She will guide you through the origin and the essentials of the CSRD. You will gain insights into its purpose and understand how this regulation impacts the entire global value chain, including suppliers worldwide like yourself.
In summary, you’ll learn about:
- The foundation and scope of the CSRD, including its worldwide impact.
- What the CSRD means for you as a supplier and business operations worldwide.
- What mutual benefits and business opportunity it presents.
- What you can do to strengthen your position in working with EU companies.
Stay informed and engaged
In our upcoming newsletters, we’ll keep you informed about regulatory changes impacting our business and our partnership with you. Stay tuned for insightful updates on topics such as the CSRD, ESRS (reporting standards), and other related subjects. If you would like to receive these newsletters, please send us a message.
Connect with us
We also invite you to connect with us at the Fruit Attraction in Madrid in October. If you would like to discuss CSRD and explore how we can enhance your project, we would be delighted to schedule a meeting with you. You can contact us via email at sustainability@olympicfoodgroup.com
We’re excited about the journey ahead and look forward to partnering with you on this transformative path towards sustainability!