Leveraging EU regulation to conquer sustainability reporting, drive decarbonisation and prevent greenwashing
Deloitte Insights
Time is running out to act on climate change. In Europe, the transition to a lower carbon and more sustainable society is reshaping the economy, creating new opportunities, and altering the cost of doing business. For companies, the implications are stark. Failing to become more sustainable will leave them vulnerable to the loss of revenue and reputation, as well as to litigation and regulatory penalties.
Regulation is an important driver of these changes, and a critical consideration for companies as they plan how to meet the commitments they have made to transition their own businesses. 2024 will be a pivotal year for the roll out of sustainability-related regulations. Several key sustainability initiatives will be finalised and EU Parliament elections in June will determine the direction and level of ambition of the next wave of the EU’s sustainability legislative activity.
Deloitte Insight's Sustainability Regulation Outlook explores the most pressing developments in the year ahead and what these mean for business strategies and operating models.
The EU’s response to the imperative on climate begins with enhanced sustainability reporting and the EU Corporate Sustainability Reporting Directive (CSRD). For most companies, work remains to be done to meet new reporting requirements in full. What is more, sustainability reporting sits at the heart of the EU’s green strategy and the information companies need to disclose draws on data and activities across the organisation. CSRD can be exploited to generate change and efficiencies across other regulatory-driven developments.
Beyond reporting requirements, Deloitte Insight's outlook highlights four themes for companies to focus on this year. Read the detailed report here.
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