SupplyCanvas - Navigating ESG Compliance with Transparent Supply Chain Solutions

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CSDDD

The EU Corporate Sustainability Due Diligence Directive (CSDDD) is a legislative initiative aimed at promoting corporate sustainability by requiring companies to conduct due diligence on environmental, social, and governance (ESG) issues throughout their supply chains. The directive aims to address human rights violations, environmental harm, and other sustainability concerns by obliging companies to identify, prevent, and mitigate potential adverse impacts in their operations and supply chains. It represents a comprehensive approach to corporate responsibility, encouraging businesses to adopt sustainable practices and fostering transparency and accountability in their operations.

EU Deforestation Regulation

As of December 2024, the EUDR (EU Deforestation Regulation) mandates the evaluation and prevention of risks associated with products containing specific raw materials (cattle, cocoa, coffee, palm oil, rubber, soy, and wood) linked to deforestation or forest degradation. The precise origin of these raw materials must be known and documented using geodata. During customs clearance for both imports and exports, a "Due Diligence Statement" must be submitted, including geodata, affirming that a thorough due diligence process was conducted to analyze and address associated risks. Compliance requires a transparent supply chain and the transmission of geodata throughout the supply chain. supplycanvas facilitates the collection and digital analysis of the necessary information, and, if necessary, supports upstream suppliers in providing data and documents.

ESG in Finance

For financial institutions, ESG criteria and reporting have become indispensable. The EU financial supervisory authorities plan to enhance the information landscape in 2024 through more comprehensive disclosure requirements, especially with the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS). Without adequate measures addressing sustainability and climate risks, there is a risk of negative impacts on lending. supplycanvas provides transparent mapping of your supply chains and assessing associated ESG risks, which is crucial for the rating criteria of financial partners.