CSRD, Corporate Sustainability Reporting Directive, is a new EU law requiring companies to disclose their environmental and social impacts, aiming to help stakeholders better assess sustainability performance and related risks.
In this episode, we hear from ESG experts Anna Csonka, Senior Sustainability Regulations Expert at denxpert; Emmanuel Zinsu, Head of ESG/Sustainability at HPC Germany; Lida Tan, President of Anew Global Consulting; and Richard Taylor, Senior Project Manager at Antea Group USA, on CSRD’s global impact on sustainability practices in businesses.
They explore the complexities and impacts of CSRD, highlighting both the opportunities and challenges of integrating these standards into business practices. They discuss how adopting CSRD can drive positive change and enhance sustainability within operations.
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Guest Quotes
“It's honestly one of the most beautiful things about the CSRD. It's this European focused legislation. The idea of legislation being beautiful is, um, oxymoronic, but it's really this ask to increase transparency regardless of your nationality.” - Richard Taylor
“We are excited that data is going to be audited. So there has to be some validity to it…You really have to put in effort to make sure the data you collect is usable, is credible.” - Lida Tan
“Right now, we are shifting to an era where we are given the opportunity to actually collect data on our non-financial matrices, which in history has never been the case. So now we're actually talking about understanding the total value creation of a company, not only based on finance or capital, you understand? So being able to capture this data, understanding your supply chain, having these matrices within your control helps you, as a firm, to be able to measure, manage them and continuously improve upon them, because we all know you cannot develop what you don't measure.” - Emmanuel Zinsu
“Don't be afraid of being transparent and vulnerable. This technique of telling all the positive sustainability stories just didn't really work out before, people stopped believing in it. By opening up and showing your negative side and negative impact as well, but still show that, okay, yes, I admit to it. I do have this negative footprint, but here are my actions and my plans to actually make up for it, and do it and drive positive change. I think that's just so refreshing for customers, consumers alike.” - Anna Csonka
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Time Stamps
00:00 Introduction to CSRD
03:36 CSRD vs. previous sustainability reporting
07:37 Costs and benefits of CSRD reporting for corporations
13:13 Global impact and implementation challenges
18:12 Importance of data management
22:11 Balancing CSRD auditing and compliance
25:20 Embracing the opportunities and overcoming resistance
28:07 Leveraging EHS for sustainability reporting
29:48 Integrating local practices into a global supply chain
38:54 Driving change and seizing opportunities
44:10 Phil’s key takeaways
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Sponsor copy
Rethinking EHS is brought to you by the Inogen Alliance. Inogen Alliance is a global network of environment, health, safety, sustainability and ESG consulting companies working together to provide one point of contact to guide multinational organizations to meet their global commitments locally. Visit http://www.inogenalliance.com/ to learn more.
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