High requirements

Creating a modern, resource-efficient and competitive economy - one that emits zero net greenhouse gases while enabling growth without leaving people or regions behind - requires a comprehensive social transformation. This change has a significant impact on companies. They must face up to new, additional guidelines and requirements, such as the circular economy.
 

New regulations

The EU is building on the 2030 Agenda and the Paris Agreement with the European Green Deal and a number of other regulations such as the Taxonomy Regulation. Climate neutrality in 2050 is enshrined in the European Climate Law.

In 2023, the Corporate Sustainability Reporting Directive (CSRD) will come into force, which is intended to ensure greater transparency and sustainability-oriented investments. This will change the way companies have been reporting to date in the direction of comprehensive sustainability reporting.

For us at Woco, the German Corporate Governance Code also provides guidance for the "G" in ESG. It stands for good and responsible corporate governance that takes particular account of social and environmental factors.

Significance for companies

As a result, sustainability aspects - in particular climate change and climate protection - will have an increasing impact on companies' business models. Almost all stakeholders, such as contractual partners in the supply chain, end customers, NGOs and many others, will be put in a position to formulate requirements and expectations for corporate actions with regard to the environment and society as a result of the expansion of regulation. This makes it necessary to implement ESG measures and provide evidence of this commitment to sustainability.

Let's face this challenge together!