The European Union's new regulatory landscape is setting the stage for transformative changes in how companies report sustainability.
With pending regulations set by the EU's Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS), companies are facing new challenges in how they report on sustainability and environmental impact.
Michael Diegelmann, co-founder of the Global ESG Monitor, discusses the challenges and responsibilities of corporate communications in this new era of transparency and accountability that affects not just European entities but businesses across the globe.
At the core of this evolution is the need for nuanced, ethical communications that not only meet regulatory expectations but reflect a true commitment to sustainability and equity.
Key Takeaways
- New European regulations will significantly impact global corporations and require a new approach to sustainability communications.
- Businesses must perform materiality assessments to identify environmental and social topics that are crucial to their operations and align their reporting accordingly.
- Corporate communications must evolve alongside new regulations to effectively convey the context of sustainability data to stakeholders and avoid greenwashing.
- While the US is beginning to implement its own regulations, American businesses must adapt to meet EU standards to maintain their European operations.
- Non-compliance or misleading sustainability reports can lead to severe consequences, including legal liability and reputational damage.
About the Guest
Michael Diegelmann is co-founder of the Global ESG Monitor and founder and CEO of cometis AG. In his 25-year career he has gained a wealth of experience across the entire spectrum of investor relations. His specialties include IPOs, capital raises, ESG consultations, hostile and friendly takeovers (cross border), bond issues as well as corporate crises and all aspects of investor relations and financial media relations. Michael has a long-standing network of contacts to media, analysts, fund managers and many opinion leaders in the financial community. In addition, he is co-author of numerous specialist publications, including the bestseller “100 Financial Ratios” with more than 300,000 copies sold.
About the Host
Abbie Fink is president of HMA Public Relations in Phoenix, Arizona and a founding member of PRGN. Her marketing communications background includes skills in media relations, digital communications, social media strategies, special event management, crisis communications, community relations, issues management, and marketing promotions for both the private and public sectors, including such industries as healthcare, financial services, professional services, government affairs and tribal affairs, as well as not-for-profit organizations.
PRGN Presents is brought to you by Public Relations Global Network, the world’s local public relations agency. Our executive producer is Adrian McIntyre. The show is produced by the team at Speed of Story, a B2B communications firm in Phoenix, AZ.
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