European Union Introduces New ESG Directives

In 2024, the European Union will introduce new ESG directives that will affect companies. These regulations are part of the EU's broader strategy to achieve climate neutrality by 2050. To remain competitive and sustainable, companies must begin preparing for compliance with these new requirements.

#Corporate Sustainability and Compliance Dashboards (CSDDD)

What it is: This directive requires companies to conduct compliance checks across their operations and supply chains to prevent and mitigate negative impacts on human rights and the environment.

Who must comply: Companies with a turnover of more than €450 million.

Basic requirements: Companies must conduct thorough audits of their supply chains and take measures to mitigate risks.

Carbon Boundary Assessment Mechanism (CBAM)

What it is: CBAM will impose new carbon pricing standards on imported goods, with the aim of preventing "carbon leakage".

Who must comply: Importers of commodities such as iron, steel, cement and aluminium.

Basic requirements: Companies will need to purchase CBAM certificates that reflect the EU carbon price.

Business Relevance

These regulations are part of the EU's broader strategy to achieve climate neutrality by 2050. Companies need to start preparing for compliance with these new requirements to remain competitive and sustainable.

Need More Information or Advice?

If you need more information or consultation on how to prepare for the new ESG requirements, contact our experts. We will help you take the necessary steps to successfully adapt to the new regulations.