The implementation of the new European CSRD Directive in France from January 2024 comes at a time of increased environmental and social regulatory pressure for French companies.
Recent years have seen an increase in environmental challenges in France, with more frequent droughts and floods, tensions over energy supplies, and questions about pollution from emerging chemicals and pesticides, all of which point to new threats to the quality of water and the quality of life.
In response to these environmental challenges, many national regulations have been introduced in the last years. The Energy Transition Act and the tertiary sector decree, requiring a gradual reduction in the energy consumption of office buildings, various texts requiring classified facilities to monitor new substances in their aqueous discharges and to use water sparingly, and the law on the fight against waste and the circular economy are examples of a rapidly evolving regulatory framework that is increasingly focused on environmental performance.
In addition to these developments aimed at speeding up the energy and ecological transition, companies are now being called upon to differentiate themselves on environmental, social and governance issues, particularly during mergers and acquisitions, for which the vast majority of investors now include ESG criteria or even full ESG due diligence audits.
The financial, image and talent recruitment risks are real in France for companies that do not integrate this culture at all levels and throughout their value chain, from the sourcing of raw materials to the final disposal of their products, from the well-being of their employees to the ethical values that define their raison d’être.
The implementation of the CSRD is also having an impact on companies currently outside its scope, with large companies increasingly demanding accountability, and even certification, from their service providers with regard to their ESG policies.
Committing to an ambitious ESG approach, whether as a regulatory obligation under the CSRD Directive, at the request of partners or as a differentiating factor compared with competitors, is now a necessity for all economic players in France.
Not sure where to start? Contact the HPC sustainability team and get tips and facts on how to get started with ESG and sustainability in your company!
HPC is your partner in ESG and sustainability. We support you in setting your sustainability goals, implementing and building an ESG management system to minimize your sustainability risks and seize potential opportunities.
We help you to move forward!
PS: If you like, we can help you with a pre-Test using our ESG pre-screening tool. This allows you to validate your own status and can serve as a basis for designing the optimal steps.
Emmanuel Zinsu – HPC AG, Germany
Emmanuel.Zinsu@hpc.ag | +49 177 5845611
Xavier Pellier – HPC Envirotec, France
Xavier.Pellier@hpc-envirotec.com | +33 625 0215 05
Valentina Vieri – HPC Italia, Italy
Valentina.Vieri@hpc.ag | +39 342 3338132