On November 28th, 2022, the European directive establishing new principles for corporate sustainability reporting (Corporate Sustainability Reporting Directive – CSRD) was officially adopted.
The reporting obligation is phased in and the new rules shall be applied to companies in the period of time as from 2024 up to 2028, and more in detail:
- as from January 1st, 2024, for large public-interest companies with over 500 employees, that are already subject to the Non-Financial Reporting Directive (NFRD), with data reporting (publication of data) due in 2025;
- as from January 1st, 2025, for all large companies that are not yet subject to the NFRD, with over 250 employees and/or €40 million turnover and/or €20 million total assets, with data reporting (publication of data) due in 2026;
- as from January 1st, 2026, for listed SMEs (with the exception of micro-enterprises), small and non-complex credit institutions, as well as captive insurance companies, with data reporting (publication of data) due in 2027. SMEs may opt out until 2028;
- as from January 1, 2028, for non-European companies generating over €150 million in net sales and performance within the EU, if they own at least one subsidiary or branch company within the EU that exceeds certain thresholds.
Implementation of management systems and certifications through targeted consulting services, based on key international regulations and standards.
Examples may include the following: consulting services on issues connected with social responsibility (SA 8000), quality management systems (ISO 9001), environmental management (ISO 14001), health and safety (ISO 45001), gender equality (UNI PdR 125:22), and integrated management systems. The consultancy process starts with a company status assessment, providing a gap analysis and an improvement and development plan for the management system.
Support in the drawing up sustainability reports, in compliance with European directives, according to the European Sustainability Reporting Standards (ESRS) developed by the European Financial Reporting Advisory Group (EFRAG).
Development of norms, standards, and product certifications, by offering consultancy services as regards the drawing up of product standards and requirements, internal standards concerning product or process compliance, and support as regards auditing, data collection, and compliance analysis activities.
Analysis and compliance declarations for national, international, process, or product regulations and standards, such as by way of example: REACH compliance declarations, Conflict Minerals declarations, and origin declarations, with analysis of traceability and support for implementing upstream data collection systems in the supply chain, necessary for subsequent compliance declarations.
Development of a digital product passport as a form of digital traceability used in order to track product information and origin, allowing this way manufacturers to record and to share information such as composition, quality certificates, production date, origin of raw materials, and so on. These details are stored on a digital platform and they can be accessed by both the producers themselves and by consumers. The primary goal of the digital product passport is to ensure traceability and transparency, by enabling consumers/end users to make informed purchasing decisions about a product and manufacturing companies to demonstrate the origin, quality, and compliance of their products.
Sustainability analysis together with development of data collection system as well as of a data analysis system across the whole supply chain. This especially involves implementing traceability analysis across the Production chain, by means of processing the data collection system of sub-suppliers, revision of the collected data, and preparation the appropriate reports. A proposal for the development of a performance improvement and monitoring plan will be provided at the end of the process.
Implementation of first and second-party audits (environmental, industrial, and social responsibility) and support in the preparation of third-party audits, which are essential tools in order to ensure compliance and transparency in business activities. In particular, environmental audits make it possible to assess the impact of industrial operations on the surrounding ecosystem, by identifying potential risks and by offering recommendations to enhance and to improve sustainable practices; industrial audits focus instead on the analysis of production processes, by checking compliance with safety and quality standards and regulations, so as to prevent accidents and to ensure reliable products; social responsibility audits evaluate a company’s commitment to the respect of human rights, ethics, and local communities, by promoting ethical and responsible practices.
LCA (Life Cycle Assessment) analysis connected with the evaluation of the environmental impact of products by analyzing material, energy, and waste flows throughout the entire lifecycle of a product, process, or service. LCA analysis identifies and quantifies greenhouse gas emissions, natural resource use, as well as impacts on human health and the environment. The primary goal of LCA is to provide objective data that are necessary to support sustainable decision-making and to improve environmental management.
Consulting services on Extended Producer Responsibility (EPR) and environmental labeling. More specifically, the EPR principle requires producers to take responsibility for the entire lifecycle of their products, including disposal and recycling phases, while environmental labeling is a system that provides clear and transparent information to consumers about products and their environmental impact (from energy use to greenhouse gas emissions, from resource use to impact on water quality, and biodegradability).
Corporate workshops that are tailored to the specific needs of each Member Company. These may include on-site training programs at the company’s premises, that are designed to improve employee skills and knowledge as regards sustainability, compliance, management systems and project management. An analysis of the company’s knowledge level will be conducted in accordance with the company, and it shall be followed by the development of a tailored training plan, differentiated according to the company’s specific requirements.
Implementation of management systems and certifications through targeted consulting services, based on key international regulations and standards.
Examples may include the following: consulting services on issues connected with social responsibility (SA 8000), quality management systems (ISO 9001), environmental management (ISO 14001), health and safety (ISO 45001), gender equality (UNI PdR 125:22), and integrated management systems. The consultancy process starts with a company status assessment, providing a gap analysis and an improvement and development plan for the management system.
Sustainability analysis together with development of data collection system as well as of a data analysis system across the whole supply chain. This especially involves implementing traceability analysis across the Production chain, by means of processing the data collection system of sub-suppliers, revision of the collected data, and preparation the appropriate reports. A proposal for the development of a performance improvement and monitoring plan will be provided at the end of the process.
Support in the drawing up sustainability reports, in compliance with European directives, according to the European Sustainability Reporting Standards (ESRS) developed by the European Financial Reporting Advisory Group (EFRAG).
Implementation of first and second-party audits (environmental, industrial, and social responsibility) and support in the preparation of third-party audits, which are essential tools in order to ensure compliance and transparency in business activities. In particular, environmental audits make it possible to assess the impact of industrial operations on the surrounding ecosystem, by identifying potential risks and by offering recommendations to enhance and to improve sustainable practices; industrial audits focus instead on the analysis of production processes, by checking compliance with safety and quality standards and regulations, so as to prevent accidents and to ensure reliable products; social responsibility audits evaluate a company’s commitment to the respect of human rights, ethics, and local communities, by promoting ethical and responsible practices.
Development of norms, standards, and product certifications, by offering consultancy services as regards the drawing up of product standards and requirements, internal standards concerning product or process compliance, and support as regards auditing, data collection, and compliance analysis activities.
LCA (Life Cycle Assessment) analysis connected with the evaluation of the environmental impact of products by analyzing material, energy, and waste flows throughout the entire lifecycle of a product, process, or service. LCA analysis identifies and quantifies greenhouse gas emissions, natural resource use, as well as impacts on human health and the environment. The primary goal of LCA is to provide objective data that are necessary to support sustainable decision-making and to improve environmental management.
Analysis and compliance declarations for national, international, process, or product regulations and standards, such as by way of example: REACH compliance declarations, Conflict Minerals declarations, and origin declarations, with analysis of traceability and support for implementing upstream data collection systems in the supply chain, necessary for subsequent compliance declarations.
Consulting services on Extended Producer Responsibility (EPR) and environmental labeling. More specifically, the EPR principle requires producers to take responsibility for the entire lifecycle of their products, including disposal and recycling phases, while environmental labeling is a system that provides clear and transparent information to consumers about products and their environmental impact (from energy use to greenhouse gas emissions, from resource use to impact on water quality, and biodegradability).
Development of a digital product passport as a form of digital traceability used in order to track product information and origin, allowing this way manufacturers to record and to share information such as composition, quality certificates, production date, origin of raw materials, and so on. These details are stored on a digital platform and they can be accessed by both the producers themselves and by consumers. The primary goal of the digital product passport is to ensure traceability and transparency, by enabling consumers/end users to make informed purchasing decisions about a product and manufacturing companies to demonstrate the origin, quality, and compliance of their products.
Corporate workshops that are tailored to the specific needs of each Member Company. These may include on-site training programs at the company’s premises, that are designed to improve employee skills and knowledge as regards sustainability, compliance, management systems and project management. An analysis of the company’s knowledge level will be conducted in accordance with the company, and it shall be followed by the development of a tailored training plan, differentiated according to the company’s specific requirements.