Brussels, 23 June 2022 – TIC Council is happy to welcome the landmark deal reached on Tuesday by the European Parliament and European Council on the Corporate Sustainability Reporting Directive (CSRD), which will hold companies more accountable for their impact on the environment, social affairs and governance (ESG).
“Europe is now talking to the whole world and paving the way for a more sustainable society” proudly affirmed MEP Pascal Durand during yesterday’s press conference. TIC sector could not agree more with MEP Durand! Indeed, for the first time, third-party verified sustainability reporting will be on an equal footing as financial reporting. Starting from 2024, all large EU and non-EU companies will have to submit public reports not only related to their financial activities but providing information about their sustainability impact. The Directive represents a huge step forward in the sustainability transition, ensuring that the reports on the effect that economic activities have on the planet and the people is verified by accredited independent auditors or certifiers. Thereby, providing more transparency and less greenwashing.
“This legislation puts the European Union at the forefront of a sophisticated framework that will hopefully trailblaze the path towards a sustainability transition of the entire world. We applaud the work of EU institutions and particularly of the Parliament led by MEP Pascal Durand, whose efforts led to this great achievement for our society and our planet”, said Hanane Taidi, Director General of TIC Council.
Certification, accreditation and standards, the building blocks of quality infrastructure, are at the core of this historical agreement, which requires sustainability reporting to be certified by an accredited independent auditor or certifier. The testing, inspection and certification (TIC) sector will verify and assess sustainability claims of companies under the CSRD. TIC Companies will, therefore, have a key role in ensuring that the sustainability information disclosed by other companies complies with the certification standards that have been adopted by the EU.
The TIC sector has the necessary impartiality, international footprint, expertise in personnel and technical capacity to verify all sustainability claims under CSRD through laboratory controls, calculations, onsite visits and other specialized services. The TIC sector has a particularly longstanding experience in offering services related to sustainability, such as supply chain due diligence, energy efficiency, and circular economy.
For this reason, trusting TIC companies for such services will indubitably benefit the successful implementation of the Directive, and, as a result, will benefit the environment and society.
“TIC Council is ready to play its part in the quality infrastructure system that will facilitate the implementation of the Directive, building trust and ensuring transparency”, Ms. Taidi added.