CSR Atelier “Stakeholders’ rights”

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“Roadmap to a sustainable business model”

The new sustainable finance framework recognises the rights of stakeholders to a more fulfilled and adequate information on issues related to the transition to a new economic and business model aligned with the 2030 Sustainable Development Goals (SDGs) and in particular the EU’s goals of complete decarbonisation, maximum use of digital technology and inclusiveness.

According to the EU, stakeholders are defined as employees of the company, employees of its subsidiaries and other individuals, groups, communities or entities whose rights or interests are or could be affected by the products, services and activities of that company, its subsidiaries and its business relationships.

The new EU Taxonomy Regulation, a classification system for environmentally sustainable economic activities, requires that for each product, companies must disclose:

  • how has the EU Taxonomy been used to identify the sustainability attributes of the underlying investments
  • which environmental objective(s) the investments contribute to
  • the percentage of the underlying investments that are aligned with the Taxonomy

At the same time, the new Corporate Sustainability Reporting Directive (CSRD) introduces the requirement for companies to report both on how sustainability issues affect their performance, position and development (an “outside-in” approach) and on their impact on people and the environment (an “inside-out” approach). This approach is often called the ‘double materiality‘ approach, meaning that companies must report on how sustainability issues affect their business and their own impact on people and the environment.

Through their participation in the CSR Atelier “Stakeholder Rights” business executives will be able to understand the Taxonomy and CSRD and the specific issues that arise when adapting businesses to them such as:

  • checking the compatibility of the company’s activities with the Taxonomy (e.g. climate change delegated acts), and
  • the methodology for analysing and applying dual materiality in relation to sustainability under the CSRD.

In addition, during the CSR Atelier thematic workshops, business executives will be able to exchange views, reflections, and good practices on how to more effectively align with the Taxonomy and CSRD not only on corporate sustainability reporting, but also on risk management and how to make the best use of opportunities in adapting to the new institutional framework.

In particular, the CSR Atelier on “Stakeholder Rights” is expected to have the following deliverables:

  • A guide for the implementation of a proactive approach to the management of the issue with examples of good practices from Greece and abroad.
  • “CSR Lab” podcast episodes on the topic with highlighting good practices of pioneering companies.
  • Publication of a thematic “CSR-Focus” on the topic.
  • Participation in a special high-level event on CSR and ESG issues to be held in 2023.
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CSR Atelier
CSR Atelier “Due diligence of supply chains”
CSR Atelier “Disclosure of sustainability information”
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