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European Parliament 20192024CommissionDEVECommittee on Development/CommissionRefProc2021/0422/RefProcRefTypeProc(COD)/RefTypeProc Date07/12/202207.12.2022/Date TitreTypeOPINION/TitreType CommissionRespof
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How to fill out corporate sustainability due diligence

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How to fill out corporate sustainability due diligence

01
Identify the relevant laws, regulations, and standards related to corporate sustainability that need to be considered.
02
Gather information about the company's operations, supply chain, and impact on the environment, society, and economy.
03
Assess the company's current sustainability practices and performance against industry benchmarks and best practices.
04
Identify key stakeholders and engage with them to understand their expectations and concerns regarding sustainability.
05
Develop a comprehensive sustainability due diligence report outlining findings and recommendations for improvement.
06
Implement the recommended actions to address gaps and improve the company's sustainability performance.

Who needs corporate sustainability due diligence?

01
Companies looking to enhance their reputation and credibility in the eyes of customers, investors, and other stakeholders.
02
Investors and shareholders interested in assessing the long-term viability and sustainability of a company before making investment decisions.
03
Regulatory authorities and government agencies seeking to ensure that companies comply with environmental, social, and governance (ESG) standards.
04
Non-profit organizations and advocacy groups promoting sustainable business practices and corporate responsibility.

What is Corporate Sustainability Due Diligence - Thursday, 1 June 2023 Form?

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Corporate sustainability due diligence is the process through which companies assess and manage their environmental, social, and governance (ESG) risks and impacts. This involves evaluating the sustainability practices and policies of businesses to ensure compliance with regulations and to promote responsible corporate behavior.
Companies that meet certain criteria, such as having a specific turnover threshold, operating in particular sectors, or those listed on stock exchanges may be required to file corporate sustainability due diligence reports. This typically applies to larger corporations and those heavily involved in industries with significant ESG impacts.
To fill out corporate sustainability due diligence, organizations should gather information related to their environmental impact, social responsibilities, and governance practices. They must analyze data, assess risks, consult with stakeholders, and compile a comprehensive report detailing their findings, actions, and future commitments regarding sustainability.
The purpose of corporate sustainability due diligence is to ensure that companies are aware of and actively managing their ESG risks and impacts, promoting transparency, accountability, and responsible business practices. This process helps to mitigate risks, improve stakeholder trust, and contribute to sustainable development.
Information to be reported includes an analysis of the company’s ESG risks and impacts, metrics related to sustainability performance, stakeholder engagement practices, compliance with relevant regulations, and the effectiveness of policies and actions taken to improve sustainability outcomes.
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