What are UN Sustainable Development Goals and the forthcoming Corporate Sustainability Reporting Directive (CSRD)

The UN Sustainable Development Goals (SDGs) are a set of 17 global goals adopted by the United Nations in 2015 to address pressing global challenges and guide efforts towards a more sustainable future. The Corporate Sustainability Reporting Directive (CSRD) is an EU directive that mandates companies to disclose information on how they manage a wide range of environmental, social, and governance (ESG) issues and their impact on the planet. Essentially, the CSRD aims to enhance corporate accountability and transparency regarding sustainability, while the SDGs provide the overarching framework for global sustainable development. UN Sustainable Development Goals (SDGs): Purpose: The SDGs are a universal call to action to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity. Scope: They address a broad range of global challenges, including poverty, hunger, health, education, gender equality, clean water and sanitation, affordable and clean energy, decent work and economic growth, industry, innovation, and infrastructure, reduced inequalities, sustainable cities and communities, responsible consumption and production, climate action, life below water, life on land, peace, justice, and strong institutions, and partnerships for the goals. Interconnectedness: The SDGs are interconnected, meaning that progress on one goal can positively impact others, and that challenges related to one goal may hinder progress on others. Corporate Sustainability Reporting Directive (CSRD): Purpose: The CSRD aims to improve the quality and consistency of sustainability reporting by companies, making it easier for investors and other stakeholders to assess a company's sustainability performance and make informed decisions. Scope: The CSRD expands the scope of companies required to report on sustainability matters, compared to previous regulations, and it specifies detailed reporting requirements, including the use of European Sustainability Reporting Standards (ESRS). Double Materiality: The CSRD requires companies to report on both the risks they face from sustainability issues (financial materiality) and the impact their operations have on the environment and society (impact materiality). Key Dates: The CSRD is being phased in, with different categories of companies subject to the reporting requirements at different times, starting with large public interest companies in 2024 for reporting year 2025. Alignment with SDGs: The CSRD aligns with the SDGs, encouraging companies to disclose their contributions to achieving these global goals. Relationship between SDGs and CSRD: The CSRD can be seen as a tool to help achieve the SDGs by promoting greater corporate transparency and accountability in relation to sustainability issues. Companies that report under the CSRD are expected to consider the SDGs in their sustainability reporting, demonstrating how their activities contribute to the global goals. By increasing the focus on sustainability in corporate reporting, the CSRD aims to drive investment towards sustainable projects and practices, contributing to the achievement of the SDGs. THE 17 GOALS - Sustainable Development Goals - the United Nations They recognize that ending poverty and other deprivations must go hand-in-hand with strategies that improve health and education, Sustainable Development Goals Understanding the Corporate Sustainability Reporting ... The Corporate Sustainability Reporting Directive (CSRD) is a piece of legislation that came into effect in January 2023, and which... Figures.hr UN Sustainable Development Goals | Minimum.com What are the 17 UN sustainable development goals? The United Nations Sustainable Development Goals - also known as SDGs - are a se... Minimum Show all

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