Social risks prove tripping point in early CSRD compliance efforts
By 
Neil Hodge2023-10-24T14:00:00
Companies are still struggling to report meaningfully on societal risks as part of their efforts to meet demands for better environmental, social, and governance (ESG) disclosures.
Speaking at Compliance Week’s Europe conference in London, Geert Vermeulen, chief executive officer at independent firm The Integrity Coordinator, told attendees his clients often complain the hardest part of ESG reporting for them to address is the social aspect and how they can get assurance on issues such as child labor and slavery.
He added companies are anxious about any potential penalties they might face for failing to report properly.
Related articles
-
PremiumQ&A: LKQ sustainability VP on importance of environmental data
Richard Brasher, vice-president of sustainability at multinational automotive parts company LKQ Corp., discusses with Compliance Week his view on the added attention sustainability initiatives are receiving and where improvement remains.
-
PremiumCompliance with CSRD, CS3D, national laws an EU balancing act
Companies could be in danger of failing to comply with a raft of social responsibility-minded legislation at the European Union and national level because they might mistakenly think duties on corporates overlap when they do not.
-
PremiumMore companies enter ‘discovery phase’ of ESG reporting in 2023
Climate-related disclosure efforts are amplifying year over year, despite persistent and persnickety pain points, as more organizations widen the scope of their ESG journeys, our “Inside the Mind of the CCO” survey found.
More from ESG/Social Responsibility
-
News BriefDOJ says BlackRock, Vanguard, State Street pressed ESG goals to lower U.S. coal output
The Department of Justice and Federal Trade Commission have bolstered a conservative legal effort to dismantle environmental, social, and governance-based investment strategies from three large asset managers by claiming they illegally conspired to artificially raise energy prices.
-
News BriefNot satisfied with gutting federal laws, Trump turns towards states
In support of President Donald Trump’s deregulation agenda, U.S. Department of Justice sued four states in its ongoing attempt to derail state efforts to force energy companies to pay for damage they caused to the environment.
-
News BriefTrump attempts to block state climate laws with executive order
President Donald Trump has issued an executive order slamming state-led efforts to address climate change, reduce greenhouse gas emissions, and other environmental, social, and governance (ESG)-related laws.