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ViskoTeepak was the first in the industry to publish a Sustainability report based on the GRI standard, 11 years ago. Today, we continue to lead in the field of sustainability as we work to improve our processes and products. Below are some of the latest developments in the ESG (Environmental, Social, and Governance) area.
One important change is the European Union’s Corporate Sustainability Reporting Directive (CSRD). This directive will raise the bar for sustainability reporting, requiring larger companies to be more transparent about their environmental and social impacts, as well as their general compliance. While ViskoTeepak has been publishing a Sustainability report for over 11 years, the new CSRD rules will require a more detailed assessment of how our business affects people, society, and the environment. The report, based on a comprehensive evaluation called the Double Materiality Assessment (DMA), helps us structure our sustainability efforts and defines the actions we need to take and report.
A lot is happening, and it’s natural to ask: Are these efforts benefiting our partners and customers, and how? The answer lies in transparency. As the CSRD requires companies to report on their ESG practices, it increases transparency, which helps build trust. This allows customers to make more informed decisions and encourages companies to adopt sustainable practices. In the end, it means higher quality and safer products, and customers who care about sustainability can support companies that share their values, promoting ethical consumption.