The European Union Sustainability Reporting Standards (ESRS) are a set of EU compliance and disclosure requirements adopted on July 31, 2023 by the European Commission, to meet the requirements of the EU CSRD (Corporate Sustainability Reporting Directive). In addition the EU Corporate Sustainability due dilligence directive (CSDDD) will be finally defined in spring 2024.

lt will affect most companies doing business in Europe with a gradual phase in over the next years with the first wave of larger companies will start to report in 2024. This will fairly soon give pressure to their main suppliers to report their data.
ESRS gives companies some freedom to evaluate what parts need to be reported according to their specific situation. A system with about 1000 reporting points has been published. Each of these points should be evaluated for relevance, or materiality as they define it. This require both experience and ability to make judgements.
Scandic Sourcing, having worked over 15 years with sustainability audits in supply chains we know that the situation at suppliers once you start to look at them in more detail, often have substantial gaps. It takes time and active work to change this and lacking a possibility to show a 100% compliance, the level of gradual improvement in relevant area becomes an important reporting factor.

If you have sourcing or production in Asia and China start early and map your supply chain in preparation for CSRD/ESRS/CSDDD. Scandic Sourcing can provide a supply chain risk and materiality analysis. Our team of GRI certified auditors can design a program that both clarifies current status and drives improvements in your supplier pool and give you real data for your sustainability report. Contact us to learn more at .



Scandic Supplier Code of Conduct Program