Transforming Business with CSRD
09/03/24 • 46 min
CSRD, Corporate Sustainability Reporting Directive, is a new EU law requiring companies to disclose their environmental and social impacts, aiming to help stakeholders better assess sustainability performance and related risks.
In this episode, we hear from ESG experts Anna Csonka, Senior Sustainability Regulations Expert at denxpert; Emmanuel Zinsu, Head of ESG/Sustainability at HPC Germany; Lida Tan, President of Anew Global Consulting; and Richard Taylor, Senior Project Manager at Antea Group USA, on CSRD’s global impact on sustainability practices in businesses.
They explore the complexities and impacts of CSRD, highlighting both the opportunities and challenges of integrating these standards into business practices. They discuss how adopting CSRD can drive positive change and enhance sustainability within operations.
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Guest Quotes
“It's honestly one of the most beautiful things about the CSRD. It's this European focused legislation. The idea of legislation being beautiful is, um, oxymoronic, but it's really this ask to increase transparency regardless of your nationality.” - Richard Taylor
“We are excited that data is going to be audited. So there has to be some validity to it...You really have to put in effort to make sure the data you collect is usable, is credible.” - Lida Tan
“Right now, we are shifting to an era where we are given the opportunity to actually collect data on our non-financial matrices, which in history has never been the case. So now we're actually talking about understanding the total value creation of a company, not only based on finance or capital, you understand? So being able to capture this data, understanding your supply chain, having these matrices within your control helps you, as a firm, to be able to measure, manage them and continuously improve upon them, because we all know you cannot develop what you don't measure.” - Emmanuel Zinsu
“Don't be afraid of being transparent and vulnerable. This technique of telling all the positive sustainability stories just didn't really work out before, people stopped believing in it. By opening up and showing your negative side and negative impact as well, but still show that, okay, yes, I admit to it. I do have this negative footprint, but here are my actions and my plans to actually make up for it, and do it and drive positive change. I think that's just so refreshing for customers, consumers alike.” - Anna Csonka
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Time Stamps
00:00 Introduction to CSRD
03:36 CSRD vs. previous sustainability reporting
07:37 Costs and benefits of CSRD reporting for corporations
13:13 Global impact and implementation challenges
18:12 Importance of data management
22:11 Balancing CSRD auditing and compliance
25:20 Embracing the opportunities and overcoming resistance
28:07 Leveraging EHS for sustainability reporting
29:48 Integrating local practices into a global supply chain
38:54 Driving change and seizing opportunities
44:10 Phil’s key takeaways
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Sponsor copy
Rethinking EHS is brought to you by the Inogen Alliance. Inogen Alliance is a global network of environment, health, safety, sustainability and ESG consulting companies working together to provide one point of contact to guide multinational organizations to meet their global commitments locally. Visit http://www.inogenalliance.com/ to learn more.
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Links
CSRD, Corporate Sustainability Reporting Directive, is a new EU law requiring companies to disclose their environmental and social impacts, aiming to help stakeholders better assess sustainability performance and related risks.
In this episode, we hear from ESG experts Anna Csonka, Senior Sustainability Regulations Expert at denxpert; Emmanuel Zinsu, Head of ESG/Sustainability at HPC Germany; Lida Tan, President of Anew Global Consulting; and Richard Taylor, Senior Project Manager at Antea Group USA, on CSRD’s global impact on sustainability practices in businesses.
They explore the complexities and impacts of CSRD, highlighting both the opportunities and challenges of integrating these standards into business practices. They discuss how adopting CSRD can drive positive change and enhance sustainability within operations.
---------
Guest Quotes
“It's honestly one of the most beautiful things about the CSRD. It's this European focused legislation. The idea of legislation being beautiful is, um, oxymoronic, but it's really this ask to increase transparency regardless of your nationality.” - Richard Taylor
“We are excited that data is going to be audited. So there has to be some validity to it...You really have to put in effort to make sure the data you collect is usable, is credible.” - Lida Tan
“Right now, we are shifting to an era where we are given the opportunity to actually collect data on our non-financial matrices, which in history has never been the case. So now we're actually talking about understanding the total value creation of a company, not only based on finance or capital, you understand? So being able to capture this data, understanding your supply chain, having these matrices within your control helps you, as a firm, to be able to measure, manage them and continuously improve upon them, because we all know you cannot develop what you don't measure.” - Emmanuel Zinsu
“Don't be afraid of being transparent and vulnerable. This technique of telling all the positive sustainability stories just didn't really work out before, people stopped believing in it. By opening up and showing your negative side and negative impact as well, but still show that, okay, yes, I admit to it. I do have this negative footprint, but here are my actions and my plans to actually make up for it, and do it and drive positive change. I think that's just so refreshing for customers, consumers alike.” - Anna Csonka
---------
Time Stamps
00:00 Introduction to CSRD
03:36 CSRD vs. previous sustainability reporting
07:37 Costs and benefits of CSRD reporting for corporations
13:13 Global impact and implementation challenges
18:12 Importance of data management
22:11 Balancing CSRD auditing and compliance
25:20 Embracing the opportunities and overcoming resistance
28:07 Leveraging EHS for sustainability reporting
29:48 Integrating local practices into a global supply chain
38:54 Driving change and seizing opportunities
44:10 Phil’s key takeaways
---------
Sponsor copy
Rethinking EHS is brought to you by the Inogen Alliance. Inogen Alliance is a global network of environment, health, safety, sustainability and ESG consulting companies working together to provide one point of contact to guide multinational organizations to meet their global commitments locally. Visit http://www.inogenalliance.com/ to learn more.
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Links
Previous Episode
Biodiversity, Natural Wealth, and Resilient Ecosystems
We face a biodiversity crisis around the world, as many countries rush to save their species and habitats. Human interaction and overdevelopment are amongst the major contributors to biodiversity loss, along with climate change.
How can we rethink our traditional development practices in order to better serve our species, our environments and our communities?
In this episode, we hear from biodiversity experts Jose Dengo, Managing Partner at CDG Environmental Advisors, Susan Jackson, Senior Marine Ecologist at Tonkin and Taylor, and Stéphanie Le Bonniec, Project Manager at HPC International.
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Guest Quotes
“The tourism industry exists in Costa Rica because of our biodiversity, because of the natural wealth, natural beauty that you see here. It's what makes it a tourism destination, and tourism itself accounts for over 8 percent of GDP and almost 10 percent of all employment.” - Jose Dengo
“In New Zealand, in Aotearoa, we have a customary practice, which is called kaitiakitanga, and it's the concept of guardianship. So we, as individuals and as collectives, can all be custodians, or we can all be kaitiaki for the species that live here in New Zealand or elsewhere, and for the biodiversity that the place where you live supports. And I think everybody has a role to play.” - Susan Jackson
“Everything is linked. That means all the consequences are linked together, like famine, civil wars, desertifications, armed conflict, and diseases. All is linked and if we don't look for the resilience of ecosystems, that will be crazy soon. For the future generations, we need to take care of it.” - Stéphanie Le Bonniec
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Time Stamps
0:00 Rethinking golf courses
02:04 Biodiversity in Costa Rica with Joes Dengo
22:30 Biodiversity in New Zealand with Susan Jackson
39:49 Biodiversity in France with Stéphanie Le Bonniec
56:17 Phil’s takeaways and closing remarks
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Sponsor copy
Rethinking EHS is brought to you by the Inogen Alliance. Inogen Alliance is a global network of environment, health, safety, sustainability and ESG consulting companies working together to provide one point of contact to guide multinational organizations to meet their global commitments locally. Visit http://www.inogenalliance.com/ to learn more.
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Links
Next Episode
Perspectives on Social and Environmental Justice
In this episode, we dive into the importance and meaning of environmental and social justice across different regions. We hear from Social and Environmental Justice experts Erica Olesson, Sustainability Leader, Tonkin + Taylor in New Zealand, Scott Recker, Environmental Remediation Practice Leader at Antea Group USA, and Valentina Vieri, a Sustainability Specialist for HPC Italy. The group discusses strategies for achieving sustainable development, emphasizing the need for community engagement, regulatory compliance, and addressing vulnerable groups.
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Guest Quotes
“That term, environmental and social justice, is not one that we use very commonly in Australia and New Zealand where I've worked. We talk more about social license to operate, so it's a similar concept, perhaps a bit reversed. It's more about what the company needs to do for, what the organization needs to do for the community to be happy that they're there and to be making sure that they're responding to those community needs.” - Erica Olesson
“So the term environmental justice has been in use in the U.S. for probably at least 40 years. And it's really been indoctrinated into legislation and regulation in the last 3 or 4 years. So, it has a very specific definition in the U.S. and what that really means is equal treatment of community, regardless of your race, color, national origin, your income, where you live, all of those things need to be treated equally. If we go to different parts of the world, and I work with my Inogen associates all over the planet, it means different things in different places.” - Scott Recker
“Sustainability is, I think, a global vision of different topics, of different perspectives. And what we try to do is to integrate these perspectives together, these different points of view, and try to find a common solution that can bring values, not just for a company, a person, but for the environment, the people and the planet. So for everybody, this is what we try to do.” - Valentina Vieri
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Time Stamps
00:00 Te Ara Oteata, or the Mount Messenger Bypass, case study
(02:03) Roundtable conversation
(02:22) Valentina's perspective on environmental and social justice
(06:29) Scott's insights on environmental justice in the U.S.
(10:55) Erica's view on social license to operate
(14:17) Challenges and trends in environmental and social justice
(31:47) Measuring impact and benefits
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Sponsor copy
Rethinking EHS is brought to you by the Inogen Alliance. Inogen Alliance is a global network of environment, health, safety, sustainability and ESG consulting companies working together to provide one point of contact to guide multinational organizations to meet their global commitments locally. Visit http://www.inogenalliance.com/ to learn more.
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Links
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