by Michelle Armstrong, TYS Global VP of Value Solutions Consultant
Corporate sustainability has gained unprecedented importance in the face of global challenges like climate change and human rights issues. Businesses are increasingly held accountable for their environmental degradation and social impacts. Legislative and regulatory changes are redefining corporate responsibilities towards sustainability, moving beyond voluntary initiatives to mandatory compliance.
From EU regulations such as the Corporate Sustainability Reporting Directive (CSRD) to the global standards of the International Sustainability Standards Board (ISSB) and the Task Force on Climate-related Financial Disclosures (TCFD), the reporting landscape is transitioning at lightning speed.
The Council and the European Parliament reached a provisional deal on the Corporate Sustainability Due Diligence Directive (CSDDD), which aims to enhance the protection of the environment and human rights in the EU and globally. The due diligence directive will set obligations for large companies regarding actual and potential adverse impacts on human rights and the environment, with respect to their own operations, those of their subsidiaries, and those carried out by their business partners.
Which regulations apply to you?
Key Frameworks: The CSDDD, CSRD, ISSB, and TCFD represent significant legislative and regulatory shifts, mandating comprehensive sustainability practices and reporting.
Implications for Organizations: These frameworks signal a shift from voluntary to mandatory sustainability practices, emphasizing transparency, accountability, and long-term planning.
Read more over the next few days as we provide insight into CSRD, ISSB, TCFD, and the CSDDD.