BlogpostNew legislation makes sustainability reporting in 2024 mandatory
Sustainability reporting in 2024 will become mandatory for publicly listed companies across Europe. This obligation arises from the Corporate Sustainability Reporting Directive (CSRD) and the proposed Corporate Sustainability Due Diligence Directive (CSDDD).
The goal? Increased transparency about social and environmental performance. However, many companies are uncertain about what exactly they need to disclose. The rules remain vague, causing hesitation instead of action.
From Transparency to Uncertainty
Many previous sustainability reports painted an overly optimistic picture. With the new legislation, companies now risk legal consequences if their reports are too positive or inaccurate.
Sustainability reporting in 2024 must be honest and well-substantiated. But without clear guidelines, fear of mistakes grows, which dampens the motivation to take real steps toward sustainability.
ImpactBuying Advocates Positive Incentives
At ImpactBuying, we believe fighting greenwashing is crucial. But regulations should also encourage improvement—not push companies into a defensive stance.
We advocate for a clear, joint approach:
- Clear boundaries set by governments
- Room for action for companies
- Focus on progress, not just accountability
Companies need practical tools to operate sustainably. Without support, sustainability risks becoming just a checkbox exercise.
Making Sustainability an Integral Part of Business
Transparent reporting is important but should not be an end goal. Only when companies and governments collaborate on clear frameworks can real change happen. Want to know more about how we help companies with CSRD compliance? Visit our CRSD page!
Let’s work together to make sustainability in 2024 more than just a reporting obligation. It should become a natural part of responsible business.