Assembly new European Union necessities for company reporting on sustainability is a problem, sportswear model Puma’s head of sustainability mentioned on Wednesday, forward of what he known as an “avalanche” of regulation within the bloc.
“We’re nowhere close to having the ability to fulfil the necessities of CSRD,” Stefan Seidel mentioned on a panel on the Reuters Impression convention in London, referring to the EU’s Company Sustainability Reporting Directive.
Seidel mentioned this was regardless of Puma reporting on sustainability for 20 years. “So I feel it’s possibly a bit excessive,” he mentioned.
Firms should adjust to the directive — which requires them to analyse environmental dangers, set targets, and get sustainability experiences externally audited — within the 2024 monetary yr for experiences printed in 2025.
Seidel mentioned Puma collects knowledge from its tier one and two suppliers on emissions, vitality, water consumption and waste creation, in addition to social knowledge like employees turnover and wages.
He mentioned the corporate had reduce its emissions by 9 % from 2017 to 2022 whereas doubling its enterprise.
By Helen Reid; Editors: Louise Heavens and Jan Harvey
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