In December 2022, the European Commission finalized the adoption of a new directive. This is the Corporate Sustainability Reporting Directive (C.S.R.D.), increasing legal obligations for companies to publish extra-financial reporting and fight against greenwashing. The retail sector will have to work hard to match these requirements and provide guarantees for the growing number of customers who demand proof of ecological initiatives.
On 10th November 2022, the European Parliament approved the new C.S.R.D. regulations with a large majority (525 votes out of 705). This new European initiative, applicable from 2024, modifies the existing Non-Financial Reporting Directive (N.F.R.D) and adds 55,000 companies to the compliance laws. This is five times as many companies as before.
Retail is lagging behind for sustainability
Faced with increasingly demanding consumers, retail firms have been multiplying ecological initiatives....
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