In information published on Tuesday, the consulting company Deloitte She pointed out that of all the favorable provisions decarbonizationthis EU CSRD directive (Corporate Sustainability Reporting Directive) will likely have the greatest impact in 2024 on all industry sectorsexcept public services.
Everyone to the emissions report
It was recalled that the CSRD Directive obliges enterprises to: reporting not only about yours own business (in terms of sustainable development – PAP), but also activities of entities in supply chains. “This means that companies must invest more resources in relationships with their suppliers and include sustainability risk assessment in their purchasing decisions,” experts said.
They noted that in 2023, the European Union took action in key areas of decarbonization, including: in terms of reporting under CSRD, carbon taxessustainable fuels, renewable energy, electricity markets, buildings and green infrastructure and CO2 sequestration.
The EU focuses on ecology and human rights
Experts listed several factors that companies should evaluate, including:use of rare earth metalscontributing to deforestation and relationships with companies in countries where human rights are violated.”
Deloitte's analysis showed that the CSRD obliges enterprises to: emissions tracking and reporting reduction targets. “As a result, companies will need to report emissions data on imported high-carbon products such as: aluminum, steel and cement. Importantly, from 2026 they will be covered carbon tax” – experts noted.
Revolution in companies
In their opinion, in 2024 “all eyes will be on” CSRD and the corresponding European reporting standards on sustainable development, i.e. ESRS (European Sustainability Reporting Standards).
“To adequately prepare for emerging regulations, companies must consider how implementing reporting requirements will result in broader changes to their strategy, management, operations and data. New reporting obligations will also force the need to assign responsibility for sustainable development issues at the management board level,” noted Magdalena Osowiecka from Deloitte.
Emission reduction spread over years
Experts believe that in order to “achieve their short-term goals (until 2025 and 2030), companies must ensure the process reducing carbon emissions throughout the value chain“In their opinion, entrepreneurs will also have to be sure that their medium-term plans (until 2040) and long-term plans (until 2050) implement the expected CO2 emission reduction trajectory, which aims to maintain the target increase in global temperature by 1.5 degrees. C
They also pointed out that “an important sector in the context of the need to implement dynamic decarbonization is real estate“. “Action in this area is essential for the European Union to achieve its carbon dioxide emission reduction targets. Representatives of this sector will have to rethink and adapt their strategy and investment processes,” said Tomasz Gasiński, partner in the sustainable development team in Deloitte in Poland and Central Europe.
author: Anna Bytniewska
