Sustainability Reporting when sourcing from China
Understanding the European Union Sustainability Reporting Standards (ESRS)
Adopted by the European Commission on July 31, 2023, the European Union Sustainability Reporting Standards (ESRS) are part of the Corporate Sustainability Reporting Directive (CSRD). These standards outline compliance and disclosure requirements that will gradually affect most companies doing business in Europe, starting with larger enterprises reporting in 2024.
The ESRS allows companies some flexibility in determining which areas to report on, tailoring their sustainability disclosures to their specific operations. However, compliance is a journey. It's not about achieving immediate perfection but making continuous improvements in key sustainability areas.
For businesses with sourcing or production in China, early preparation is crucial. Scandic Sourcing can assist by conducting a comprehensive supply chain risk and materiality analysis. Our team of GRI-certified auditors can design a program that assesses your current status, drives measurable improvements, and provides reliable data for your sustainability reporting.
Start early and ensure your company is on the right path toward ESRS compliance.