CSR news from 02/16/2024

1. Administrative Tsunami and CSRD Directive: CPME Alert

François Asselin, President of the Confédération des petites et moyennes entreprises (CPME), expresses his concern about a potential "administrative tsunami" linked to the CSRD directive. He proposes two urgent measures to protect VSEs and SMEs: raising social thresholds and introducing an "SME test" to assess the impact of legislation on these companies. In his view, although the law does not target them directly, VSEs and SMEs are indirectly affected by the obligations of major groups.

• Source: Le Journal des entreprises, "Interview Directive CSRD : " Personne ne voit la catastrophe arriver " alerte François Asselin, président de la CPME" (in French)

2. The Margaret 2024: Highlighting Women of Influence in Innovation

The Journée de la Femme Digitale (JFD) Foundation announces the finalists for its Margaret 2024 Awards, honoring female creativity and innovation in digital. The award, named after NASA's Margaret Hamilton, comprises three categories: Entrepreneur, Intrapreneur, and Junior, rewarding a variety of innovative projects.

• Source: RSE Magazine, "Les Margaret 2024: spotlight on influential women in innovation".

3. The Importance of CSR Labels and Certifications for Companies

Despite their lack of legal standing, CSR labels and certifications offer companies legitimacy and significant advantages, enabling them to measure themselves against others and share beneficial practices. Afnor underlines their positive impact on companies' finances, reputation and gender diversity.

• Source: Le Monde, "La fabrique des labels d'entreprise : B Corp, Afnor, Great Place to Work..."

4. AMF Guide to Corporate CSR Reporting

The Autorité des Marchés Financiers (AMF) has published a guide to help companies prepare their climate transition plans, in line with the CSRD directives, offering crucial support in the context of increasing CSR obligations.

• Source: RSE Magazine, "CSRD: the AMF publishes a guide for finance companies".

5. SBTi strengthens its Compliance Policy

The Science based target initiative (SBTi) is strengthening its compliance policy to increase transparency and accountability, by publicly announcing companies that fail to meet their CSR commitments, in an effort to discourage greenwashing.

• Source: Novethic, "More than 170 companies banned from the Science Based Target Initiative".

6. Reconciliation of financial and CSR reporting in 2024

According to C3D's Sébastien Mandron, the 2023 regulatory requirements are driving the convergence of financial and non-financial reporting. The aim is to make extra-financial reporting as essential and robust as its financial counterpart, despite the challenges posed by the diversity of indicators and units of measurement.

• Source: DAF MAG, "CSRD will inevitably bring the CSR and finance functions closer together".

7. Legalization of CSR and CSDSD: Companies in the Blur

The European duty of care directive, CSDDD, complicates the regulatory landscape for companies in Europe, requiring preventive measures against human rights and environmental abuses. Discussions in Brussels are dragging on, reflecting the complexity and ambition of the directive.

• Source: Novethic, "European directive on duty of care: where do we stand?"