Published on: 30 July 2024
How are international ESG laws evolving?
We're witnessing a tightening in sustainability reporting requirements. The EU's new directives, such as the CSRD and CSDDD, and Germany's GSCA, are setting precedents. The EU's Regulation on deforestation-free products and the USA's SEC establishing a climate and ESG task force are also significant developments.
What is the ongoing impact of climate change on supply chains?
Climate change, with phenomena like flooding and wildfires, is a significant disruptor. Companies need to adopt proactive strategies, such as supply chain mapping and dual sourcing, and consider supporting local suppliers to mitigate these impacts.
How is the crackdown on greenwashing unfolding?
Greenwashing is being scrutinised more than ever. With new guidance and measures from bodies like the FCA in the UK and the FTC in the US, businesses must focus on transparency and demonstrate their genuine commitment to sustainability. The TISCreport Transparency Score is an ESG-focused metric that can help organisations benchmark and improve their transparency.
What should businesses understand about Scope 3 emissions?
Measuring Scope 3 emissions is challenging yet crucial. From 2025, European companies will be required to disclose these emissions. Transparent supply chains are key to collecting accurate data. You can see some public sector Scope 3 dashboards via our UK public sector transparency map.
How is social value currently being highlighted?
There's an increasing emphasis on embedding social value, moving beyond mere cost considerations. New frameworks are standardising social value processes, offering clarity and best practice guidance.
What is the significance of third-party verification in this context?
Third-party verification is becoming essential for risk management and compliance. It's a critical factor for stakeholders and industries in establishing trustworthy partnerships. Self-certification is a source of huge risk and can no longer be deemed sufficient in verifying a company's credentials and actions.
