For Europe to achieve climate neutrality by 2050, European regulation is strengthening the sustainability requirements for companies and economic and financial actors.
Applicable from 2024, companies from the EU will have to comply with the Corporate Sustainability Reporting Directive (CSRD) depending on their size and previous reporting obligations. The CSRD will require large and listed companies to disclose information regarding the following areas by setting determined targets and reporting on their performance:
- Their environmental, societal and governmental practices
- How they are impacting the environment
- How the environment is impacting their activities
Even if not directly impacted, all SMEs – as part of the value chain of larger companies – will inevitably have to report to those directly impacted by the CSRD.
At the regional level of Brussels, under the impetus of the Shifting Economy, public bodies are currently adapting their services and support by paying attention to the ESG (Environmental, Social & Governance) practices of a company. For instance, investment from finance&invest.brussels will be provided to an entity only if its projects contribute to a more sustainable, resilient, socially inclusive and job-creating society in the Region.
In other words: prepare yourself today!
The benefits
Implementing your company’s transition process as soon as possible has many benefits, such as:
- Boosting your competitiveness and capturing new opportunities
- Enhancing transparency and attracting investors
- Staying ahead of future regulations by being compliant with regulatory requirements
- Becoming more resilient in an unpredictable world
- Retaining and attracting the right employees
How to prepare?
Feel lost? Do not know where to start with your sustainability journey?
Enterprise Europe Brussels and its experts will help your company set up a sustainable strategy. Take action now and schedule a meeting with our experts!
Together we understand where you are, we define where you should go and we help you find out how to get there.
– Enterprise Europe Network
