Only every fourth company prepared for sustainability criteria
According to the study "Europe's Changing Industry," the new EU Corporate Sustainability Reporting Directive (CSRD) is no longer an unknown quantity for a good two-thirds of European industrial companies - even in non-EU countries. But implementing the statutory ESG requirements still poses major problems for around three out of four companies.24 May 2023
In addition to the energy crisis, staff shortages and a lack of knowledge are major concerns. For one third, poorly prepared data also prevents the transparency urgently needed for greater sustainability. For the study, more than 440 top decision-makers from 19 European countries were surveyed on behalf of the product innovation platform Aras.
The industry has long since recognized the importance of strategically positioning itself as a sustainable company. Nine out of ten companies in the study, for example, stated that lasting economic success is only possible through sustainable action. But now things are getting serious: the days when it was enough to simply put on a green coat are over. As part of the European Green Deal, politicians are taking business to task. From 2024, around 50,000 companies in the EU will have to publish detailed and reliable sustainability information on an annual basis on the basis of comprehensive standards in the areas of environment (Environmental), social (Social) and corporate management (Governance). "In their own interest, manufacturers therefore need a high level of transparency on product data at every stage of production in order to comply with ESG reporting requirements and avoid penalties," says Jens Rollenmüller, Managing Director of Aras Germany.
HANNOVER MESSE offers further information on the subject of ESG. There, in April, experts discussed various requirements for industry arising from the EU Sustainability Directive.
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