Guiding Small and Medium Enterprises: Strategy for Successful Corporate Social Responsibility Execution
In the ever-evolving landscape of the European Union, a new regulatory framework known as the Corporate Sustainability Reporting Directive (CSRD) is set to reshape the corporate world. This expansive directive aims to broaden the CSR reporting obligations from 12,000 firms to around 50,000, encompassing a diverse range of industries.
The CSRD is poised to bring about significant economic benefits for participating companies. By fostering increased efficiency, resilience, and attractiveness, businesses stand to gain from this transformative initiative.
A key aspect of the CSRD is the engagement of external stakeholders, such as suppliers, in the process of creating mutual value. This holistic approach ensures that the benefits of sustainability are shared across the value chain.
Operators, often the pioneers in sustainability, are the real drivers of change in implementing the CSRD. Wassim Daoud, CSR Director at Ponant, underscores the importance of good organisation and resource identification for achieving ambitious CSR objectives.
The CSR strategy should be presented as an integral part of the company's general strategy to ensure full engagement from teams. Prioritisation is a key success factor, with companies focusing on themes that are impactful and material to their business operations.
David Petrovic, General Director of Estémi, emphasises that CSR is a strategic development opportunity for the company, not a regulatory constraint. Marion Ringotte, CSR Manager of Estémi, highlights the importance of a materiality analysis in identifying strategic issues for the CSR strategy.
The CSRD consists of three key pillars: standardization, measurability, and transparency, which aim to prevent greenwashing. A systemic and holistic approach is crucial, engaging all employees, activities, and production sites.
Nils Joyeux, from Windcoop, shares that the company manufactures and operates cargo ships equipped with sails to reduce CO2 emissions in maritime freight. Dominique Thillaud, from Compagnie des Alpes, discusses measures such as recycling used oils from amusement parks for grooming ski slopes.
The data collection and consolidation process for CSRD reporting is complex, time-consuming, costly, and energy-intensive. However, the benefits of transparency and accountability far outweigh these challenges.
Catherine Piante discusses the pressures that maritime economic growth places on marine ecosystems, specifically the Posidonia seagrass meadows. The CSRD focuses on impact and value creation, encouraging companies to consider both macroeconomic and microeconomic factors.
Christophe Caille states that the CSRD represents a significant transformation for businesses, with SMEs having the opportunity to either embrace it or endure it. The CSRD applies to larger small and mid-sized enterprises and is part of a broader regulatory framework in application of the European Green Deal.
This directive is not just a regulatory obligation, but a strategic development opportunity for businesses. Embracing the CSRD can lead to increased efficiency, resilience, and attractiveness, ultimately driving long-term success in the sustainable economy.
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