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Is the European Green Deal a BIG DEAL for my business?

Is the European Green Deal a BIG DEAL for my business? | ESG Insights | EisnerAmper Ireland

Yes, and here are a few reasons why –

The European Green Deal aims to decouple economic growth from resource use and ensure that all regions and Union citizens participate in a socially just transition to a sustainable economic system whereby no person and no place is left behind. This is addressed through several policy initiatives, including the Non-Financial Reporting Directive (NFRD), the Taxonomy Directive, the Sustainable Finance Reporting Directive (SFDR) and the Corporate Sustainability Directive (CSRD).

As part of the Green Deal initiative, the CSRD requires all in-scope companies to publish a comprehensive Annual Sustainability Report starting from 2024, including policies, business models, targets, actions and metrics, and how these are aligned with environment, social and governance objectives. This directive expands on the NFRD by bringing many more companies into scope and requiring more extensive disclosures. Companies will need to assess the impact of their actions on the environment, employees and communities in addition to considering the risks to their business from climate change and other external factors. This impact and risk assessment informs the policies, targets, actions and metrics to be disclosed.

But, transitioning to a sustainable business model also has direct benefits for your business:

  • customers demand more sustainable products and services;
  • employees want their work to be fair and positive for the environment;
  • investors seek out opportunities to deploy their capital responsibly; and
  • communities favour companies that care.

Preparing to tell a compelling and verifiable story in your first Annual Sustainability Report will shape your transition to a sustainable business model, and bring lasting benefits to your business and all stakeholders.

Going sustainable is simply good business.

At EisnerAmper we make sustainability simply sustainable.

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The content above is provided for general information purposes only and is not intended to provide, nor does it constitute, professional advice on any particular matter. If you would like more information or would like to discuss any of the topics raised above, please contact the author(s).

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