This CBCSW cluster event focused on supporting a variety of cross sectoral businesses and organisations to integrate key knowledge and skills in life cycle assessment and sustainability reporting into their operations. On 5 January 2023, the Corporate Sustainability Reporting Directive (CSRD) came into force. This new directive modernises and strengthens the rules concerning the social and environmental information that companies have to report. A broader set of large companies, as well as listed SMEs, will now be required to report on sustainability – approximately 50,000 companies in total.
The new rules will ensure that investors and other stakeholders have access to the information they need to assess investment risks arising from climate change and other sustainability issues. They will also create a culture of transparency about the impact of companies on people and the environment. Finally, reporting costs will be reduced for companies over the medium to long term by harmonising the information to be provided. The first companies will have to apply the new rules for the first time in the 2024 financial year, for reports published in 2025
As the new regulations begin to take effect and influence companies across Europe this cluster event is timely as organisations begin to predict and prepare for the impact of these new requirements.
Guest speakers included Peter Seymour of Eco Review Ireland who are an approved Enterprise Ireland Environmental Service Provider specialising in Sustainability Reporting; Certification services; Full Life Cycle Assessment analysis and Environmental Product Declarations for all manufactured goods.
Cian Ryan of Position Green, a Swedish SaaS platform that empowers organisations to become sustainability champions detailed the importance of streamlining sustainability reporting for companies, demystifying LCA and provided guidance on ISO14001 plus an overview of current and emerging legislation. Cian also provided key insights into Scope 1,2&3 reporting requirements and supporting organisations to improve competitiveness and ESG performance through approved standards and frameworks.