EcoVadis’ Post

👨⚖️ CSDDD was passed into law on 24 April 2024, on the anniversary of the Rana Plaza disaster in Bangladesh, where a building containing garment factories for European fast-fashion houses collapsed, killing 1,134 people. 🔍 Corporate Sustainability Due Diligence Directive (CSDDD) puts the onus on in-scope organisations to pro-actively manage their entire supply chain for environmental risks and human rights. 💸 Non-compliance runs the risk of fines of up to 5% of global turnover. 🌍 One of the most effective ways to assess your supply chain is to insist on independent verification via an external certification, such as EcoVadis. EcoVadis assesses companies across environmental, social, governance and sustainable procurement categories and awards a rating (Unrated, Committed, Bronze, Silver, Gold, Platinum). 💡 Sustainabil-IT is proud to be an official Ecovadis training & consulting partner. 🥇We're here to help you, with initial certification, implementing improvement plans and re-certification - we get you on the podium.

The European Union has refined its proposed sustainability legislation, now targeting only the region's largest businesses for enforcement. With the Corporate Sustainability Due Diligence Directive (CSDDD), around 5,400 companies will be covered, down from the initial 16,400. The CSDDD mandates companies to identify and mitigate negative impacts on the environment and human rights abuses, fostering a more sustainable business ecosystem. Compliance will naturally ripple through global supply chains, highlighting the need for understanding and action. To navigate this evolving landscape, supply chain managers must focus on five key steps: 1️⃣ Define the "value network" encompassing all business relationships. 2️⃣ Assess compliance, requiring proof and contractual agreements from partners. 3️⃣ Monitor networks actively, appointing responsible individuals and leveraging AI. 4️⃣ Implement robust reporting mechanisms for transparency and accountability. 5️⃣ Mitigate risks and violations through preventive and remedial measures. https://lnkd.in/epeKAt-7 #SupplyChain #Sustainability #LifeWorkSearch

For brands and retailers managing extensive product ranges, regulatory compliance is swiftly becoming a critical priority. However, with the current state of sustainability regulations resembling a complex confusion, many businesses find themselves unsure of where to begin. Explore our blog for insights on #sustainabilityregulations, challenges, and automated solutions for regulatory reporting here 👉https://lnkd.in/ecZb8ACv and see how Dayrize simplifies compliance, measuring impact, and ensuring adherence to evolving standards. To discover more, don't miss our upcoming webinar on 'Navigating Sustainability Regulations' next week, scheduled for November 21st at 2 pm 🔗 https://lnkd.in/d748p4WM #sustainabilitleaders #dayrize #complianceexcellence

Had a good conversation with Supply Chain Digital about how businesses can navigate sustainability due diligence regulations for their global supply chains. Key takeaways: 1. Understand what's important for you and your customers 2. Simply and prioritize the actions to take to address risk and drive impact 3. Data is key and the more you collect, the more you'll be able to improve it's reliability over time And what does the future look like for EcoVadis? Exciting stuff! https://lnkd.in/ejFFJjsp

Great insights from our very own Pete Rau on how supply chains can adapt to the upcoming due diligence regulation the CS3D! Feel free to DM me to connect you to our Subject Matter Experts in Pete’s team at EcoVadis!

The recent passing of the Corporate Sustainability Due Diligence Directive (CSDDD) legislation marks a historic milestone for businesses and their supply chains globally. This new directive represents not just a shift but a significant leap towards truly sustainable and responsible business practices. Why is the CSDDD a game changer for sustainable supply chains? 1. Enhanced Transparency: The CSDDD mandates companies to conduct thorough due diligence on their supply chains. This means greater transparency in operations, pushing companies to uncover and address environmental and social risks. For businesses committed to sustainability, this provides a structured framework to showcase their efforts and drive real change. 2. Level Playing Field: One of the challenges in adopting sustainable practices has been the uneven playing field, where companies bearing the cost of sustainability could be at a competitive disadvantage. The CSDDD levels this field, ensuring that all players adhere to the same high standards of environmental and social responsibility. 3. Risk Mitigation: By requiring companies to identify, prevent, and mitigate human rights and environmental risks in their supply chains, the CSDDD significantly reduces potential legal, reputational, and financial risks. This proactive approach is not only good for the planet and people but also a smart business strategy. 4. Stakeholder Confidence: Consumers, investors, and partners are increasingly demanding sustainable practices. The CSDDD provides a clear framework that companies can use to demonstrate their commitment to sustainability, thereby boosting stakeholder confidence and potentially driving better business outcomes. 5. Innovation and Collaboration: The directive encourages innovation in sustainable practices and technologies. It also promotes collaboration between businesses, suppliers, and other stakeholders to improve sustainability performance throughout the supply chain. The passage of the CSDDD is a clear signal that the era of voluntary sustainability is evolving into an era of accountability and action. It's an acknowledgment that for business to thrive long-term, it must not only generate economic value but also uphold environmental integrity and social justice. As professionals in the supply chain, sustainability, or corporate governance sectors, this legislation offers us an unprecedented opportunity to lead the way in building a more sustainable, equitable, and resilient future. 🙌🏾 The journey towards sustainable supply chains is complex, but with the CSDDD, we have a clearer map and a shared direction. Here's to a sustainable future, powered by responsible supply chains! #supplychain #sustainability #circulareconomy

The Corporate Sustainability Due Diligence Directive (CSDDD) is like a gust of fresh wind sweeping through the intricate labyrinth of global supply chains. Let’s unravel why it’s a game changer: **#ClearingtheFog: Supply chains resemble mazes with hidden corners. The CSDDD shines a spotlight, revealing every twist and turn. It’s the map we’ve been waiting for. #BenchmarkingExcellence: Imagine a marathon where every runner knows the finish line. The CSDDD sets strong benchmarks for due diligence. Companies can’t just jog; they must sprint toward sustainability. #SubcontractorSpotlight: Often, subcontractors toil in shadows. The CSDDD pulls them into the spotlight. Now, companies must ensure their subcontractors dance to the same eco-friendly tune. #GameTheoryNavigation: Picture supply chains as chessboards. Each move affects the entire game. Using Game Theory, businesses strategize: “How do we win while ensuring fair play?” #TheCSDDD adds #new pieces—#humanrights, environmental impact, and climate goals. **The 1.5°C #Challenge: Companies used to sip lukewarm coffee on climate change. Not anymore.The CSDDD hands them a steaming cup: “Your business model must align with limiting global warming to 1.5. C. **Civil Liability Regime: The CSDDD isn’t a gentle nudge; it’s a firm handshake. Companies face civil liability for damages. Penalties loom—up to 5% of global turnover. It’s like a referee saying, “Play fair or pay the price.” **Supply Chain Rethink: CEOs huddle in boardrooms. “How do we weave sustainability into our DNA?”. The CSDDD whispers: “Revise strategies. Reimagine supply chains. Be the change.” **Ethical Consumerism Spotlight: Shoppers now wield ethical magnifying glasses. They scrutinize supply chains. The CSDDD nudges companies: “Your choices ripple through hearts and wallets.” **The Ripple Effect: Imagine dropping a pebble in a pond. Ripples spread. The CSDDD’s impact? It’s the pebble—the ripple effect reaches suppliers, partners, and beyond. **The New Chapter: The CSDDD writes a fresh chapter in the supply chain saga.It’s not just about profit margins; it’s about purpose. Companies flip the page, eyes wide open. Sustainability isn’t a buzzword; it’s the plot twist. So, fellow corporate players, let’s roll the dice. The CSDDD reshuffles the deck. Sustainable supply chains? It’s not a bonus level; it’s the main quest. 🌍🔍🌱 #circulareconomy #supplychain #sustainable #valuechain

The recent passing of the Corporate Sustainability Due Diligence Directive (CSDDD) legislation marks a historic milestone for businesses and their supply chains globally. This new directive represents not just a shift but a significant leap towards truly sustainable and responsible business practices. Why is the CSDDD a game changer for sustainable supply chains? 1. Enhanced Transparency: The CSDDD mandates companies to conduct thorough due diligence on their supply chains. This means greater transparency in operations, pushing companies to uncover and address environmental and social risks. For businesses committed to sustainability, this provides a structured framework to showcase their efforts and drive real change. 2. Level Playing Field: One of the challenges in adopting sustainable practices has been the uneven playing field, where companies bearing the cost of sustainability could be at a competitive disadvantage. The CSDDD levels this field, ensuring that all players adhere to the same high standards of environmental and social responsibility. 3. Risk Mitigation: By requiring companies to identify, prevent, and mitigate human rights and environmental risks in their supply chains, the CSDDD significantly reduces potential legal, reputational, and financial risks. This proactive approach is not only good for the planet and people but also a smart business strategy. 4. Stakeholder Confidence: Consumers, investors, and partners are increasingly demanding sustainable practices. The CSDDD provides a clear framework that companies can use to demonstrate their commitment to sustainability, thereby boosting stakeholder confidence and potentially driving better business outcomes. 5. Innovation and Collaboration: The directive encourages innovation in sustainable practices and technologies. It also promotes collaboration between businesses, suppliers, and other stakeholders to improve sustainability performance throughout the supply chain. The passage of the CSDDD is a clear signal that the era of voluntary sustainability is evolving into an era of accountability and action. It's an acknowledgment that for business to thrive long-term, it must not only generate economic value but also uphold environmental integrity and social justice. As professionals in the supply chain, sustainability, or corporate governance sectors, this legislation offers us an unprecedented opportunity to lead the way in building a more sustainable, equitable, and resilient future. 🙌🏾 The journey towards sustainable supply chains is complex, but with the CSDDD, we have a clearer map and a shared direction. Here's to a sustainable future, powered by responsible supply chains! #supplychain #sustainability #circulareconomy

What is CSDDD? (Corporate Sustainability Due Diligence Directive) ♻️🌿 The goal of CSDDD is to foster sustainable and responsible corporate behaviour and to anchor human rights and environmental considerations in companies’ operations and corporate governance. Commissions’ proposed CSDDD draft, on 23 Feb 2022. Know more about CSDDD➡ https://lnkd.in/dFMpGj6Q The revised CSDDD, key takeaways from this revised: 1️⃣ Reduced the pool of companies affected by increasing the thresholds to 1,000 employees, up from 500, and requiring revenue greater than €450 million, up from €150 million. 2️⃣ Starting with companies exceeding 5,000 employees and €1.5 billion in revenue in 2027, followed by those with over 3,000 employees and revenues of €900 million in 2028, and extending to all other companies covered by the law in 2029. Discover more➡ https://lnkd.in/dfDu3uT8 What can you do for those coming up with new regulations of the European Commission, if your company is not big enough to get involved with? 🔄 All you have to know is, starting now rethink about your business models, is it circular business model enough? Is it traceable for your digital product passport? Or is your organization transparent enough? 👗 If you don’t change now, the coming up of new EU’s policies will push you to transition if you still want the European market. Last but not least, recommended some traceability platforms: for traceability definitely you can lean on Fairly Made® Satma CE Made2Flow Still want to know more? Check Fashion for Good ➡ https://lnkd.in/dxgffiHd Curious how to ask suppliers in China to cooperate with you either in transparency or transability, or for your data collecting? Love to hear your opinions. #europeancommission #parliament #supplier #manufacturing #garments #fashionindustry #sustainabablefashion #sustainability

Being able to demonstrate your #sustainability is difficult, right? Wrong! Try Traxed for free. With one click you can also invite an auditor to verify that your #supplychain complies with #esg and #csrd rules.