5 December 2022

Kiwa welcomes final approval Corporate Sustainability Reporting Directive

Kiwa welcomes the historic proposal recently adopted by the Council of the European Union on the Corporate Sustainability Reporting Directive (CSRD), which is finally ready to come into force.

Starting from 2025, all large EU and non-EU companies will have to submit public reports going beyond financial reporting to disclose their sustainability impact. The CSRD has the potential to accelerate responsible change and create transparency across all sectors by standardising the disclosure, reporting and assurance of sustainability metrics.

Sustainability claims will be verified by independent, accredited and impartial auditors, finally placing sustainability reporting on an equal footing with financial reporting. TIC companies like Kiwa have the necessary impartiality, international footprint, expertise in personnel and technical capacity to verify all sustainability claims under CSRD by applying laboratory controls, calculations, onsite visits and other specialised services. The involvement of independent assurance services providers in the verification process adds an additional layer of control to ensure trust, transparency, and validity of claims.

The TIC Council actively monitored the CSRD proposal and prepared recommendations. Kiwa is a proud member of the council and we wholeheartedly welcome the CSRD, because organisations whose products and/or services can actually be called sustainable now have the opportunity to distinguish themselves from greenwashers.