Over the last 30 years, corporate social responsibility (CSR) has become a controversial term, reflecting a combination of factors associated with concerns relating to a wider approach of corporate volunteerism, and actions linked with social issues such as the environment and international human rights.
However, this reality has undergone major changes in recent years, especially after the publication of the Directive on Non-Financial Reporting in 2014. More recently, the European Commission has undertaken an initiative for the update of the formerly published NFR-D through the Corporate Sustainability Reporting Directive proposal CSR-D.
As a result, CSR HELLAS organized a webinar on 31 May 2021 to inform its members on the relative developments on the aforementioned issue, during which the basic themes that tend to create questions in the business world will be addressed, such as:
- Why was there a need to review the Non-Financial Reporting Directive (NFRD)?
- Why does the proposed Corporate Sustainability Reporting Directive cover more companies?
- What does the proposal mean for smaller companies?
- How and by whom will these new EU sustainability-reporting standards be developed?
- How will EU reporting standards fit with global standards, especially the standards that the International Financial Reporting Standards Foundation is planning?
- What does the proposal say about the audit of sustainability information?
- Will the proposal make information available in a digital format?
- Will this proposal create extra costs for companies?
- Timing and next steps
The panel of distinguished speakers consisted of:
- Maria Alexiou, Chair BoD, CSR HELLAS; Member BoD, CSR Europe; ESG Senior Advisor, Titan Cement International; Member, European Lab PTF on Reporting of Non-financial Risks and Opportunities and Linkage to the Business Model (PTF-RNFRO), European Financial Advisory Group (EFRAG)
- Giorgia Miccoli, EU Affairs, CSR Europe
- Noémi Robert, Director Members & Business Management, Accountancy Europe
- Moderation: Pavlos Vlachos, Associate Professor, ALBA Graduate Business School, The American College Of Greece