The Corporate Sustainability Reporting Directive (CSRD) has recently faced criticism, with some arguing it imposes an excessive regulatory burden on businesses. However, many experts believe the CSRD is not a roadblock but a driver of competitiveness, reinforcing Europe's economic strength and resilience in the face of global challenges.
In an exclusive interview with journalist Clement Fournier for the French newspaper Novethic, Marc Boissonnet, our Sustainability Director, along with MEP Pascal Canfin and former MEP Pascal Durand, shared their perspectives on why the CSRD should be seen as a tool for strengthening Europe’s economy rather than a hindrance:
- A Strategic Asset, Not Just Compliance: The CSRD is a management tool, not just a reporting obligation. Pascal Canfin, MEP and former Chair of the European Parliament's Environment Committee, emphasized that the CSRD should be used for strategic risk management and sustainable transformation rather than seen as an unnecessary burden.
- A Global Competitive Advantage: According to Pascal Durand, former MEP and rapporteur for the CSRD, the directive provides European businesses with a comparative advantage, helping them prepare for inevitable shifts in resource availability, energy costs, and ecosystem degradation.
- A Tool of Economic & Geopolitical Power: The CSRD is also a geopolitical lever for Europe. Pascal Canfin pointed out that without harmonized sustainability standards, European businesses would be at a disadvantage against American and Chinese competitors. The CSRD enables Europe to set global production and reporting standards, ensuring that foreign companies must comply with the same rules as European firms.
- Strengthening Europe’s Economic Model: Pascal Durand argues that without strong sustainability regulations like the CSRD, Europe risks becoming economically dependent on the U.S. and China, both of whom aggressively push their own regulatory frameworks. "If we refuse to define our own standards, we are in a position of vassalage," he warns.
The message is clear: sustainability reporting is not a burden, it’s an opportunity. By refining and improving the CSRD rather than dismantling it, Europe can secure its leadership in sustainable business, economic resilience, and global standard-setting.
Read the full interview.