"Sustainability Governance" News Archive

The European Union's Approach to Deforestation and Its Global Implications

The European Union’s forthcoming Corporate Sustainability Reporting Directive (CSRD) is poised to reshape the landscape of mergers and acquisitions (M&A) across the continent. This landmark legislation, mandating comprehensive ESG disclosures, has raised significant concerns within the business community about its potential impact on M&A activity.

Join CommonShare's CEO Martin Smith at the USFIA 2024 Conference on November 13th to explore solutions for trade, transportation, and compliance challenges in the fashion industry.

Despite strong support from environmental advocates, the New York Fashion Act faces significant resistance from influential trade groups like the AAFA, posing ongoing legislative challenges for the fashion industry.

The European Commission has recently implemented an EU-wide restriction on the use of siloxanes, a class of solvents previously marketed as a safer and more environmentally friendly alternative to perchloroethylene (Perc) for dry cleaning textiles.

The CSRD affects all companies on EU regulated markets, including non-EU entities, with U.S. subsidiaries needing compliance based on specific thresholds, and many companies proactively aligning with its stringent standards.

The United Nations' Sustainable Development Goals (SDGs), adopted in 2015, are 17 interlinked objectives aimed at addressing global challenges by 2030, but experts stress that intensified governmental efforts are needed to achieve them.

The European Union's commitment to sustainability is exemplified by its comprehensive and ambitious regulatory framework, encompassing historical milestones, key directives, sector-specific regulations, and robust enforcement mechanisms to ensure environmental protection and sustainable development.

Europe leads in sustainability with regulations like the European Green Deal, Circular Economy Action Plan, and CSRD to reduce environmental impact and promote social responsibility.

The EU's initiative for Digital Product Passports mandates transparency throughout product lifecycles, nurturing sustainability and circular economy practices by 2026. Businesses are required to adjust to meet compliance standards and cultivate consumer trust.