CSR Barometer 2024

The operationalization of CSR within companies shows significant progress. Companies appear to have recognized the importance of re-evaluating their business models to align with planetary boundaries. This concept refers to nine critical ecological thresholds humanity must not exceed to avoid major disruptions to Earth’s systems.

This involves integrating sustainable practices to anticipate crises, manage resource costs, and secure supply chains. This shift in perspective requires not only “greening” the current economy but also producing essential goods and services while adhering to sustainability principles.

The lack of specific CSR skills has been identified as a major barrier to deploying effective strategies. This challenge is particularly critical in high-pressure sectors where rapid changes are difficult to implement.

Companies also report a shortage of human and financial resources necessary to support these initiatives, despite the potential long-term benefits such as return on investment and regulatory compliance. The lack of clear guidelines and the deprioritization disrgard for CSR issues are also cited as contributing factors to this resource deficit.

It is therefore crucial to promote CSR initiatives within every function, enriching jobs and fostering the emergence of new skills. By allocating sufficient resources and clarifying objectives, companies could improve their overall performance and ensure sustainability in line with societal and market expectations.

Clients play a crucial role in developing CSR strategies. Their influence pushes companies to be more transparent and responsible. This phenomenon is global, with consumers increasingly demanding that companies adopt sustainable and ethical practices.

At the same time, a majority of respondents indicate that a large proportion of their employees show interest in CSR issues.

As internal and external stakeholders become increasingly aware of environmental and social issues, companies, and especially their top management, must demonstrate concrete action and transparency.

The CSRD, a recent directive from the European Union, requires over 50,000 companies in Europe to disclose a comprehensive set of CSR data, mainly covering environmental, social, and governance aspects. To comply, companies must publish detailed information on their sustainability risks, opportunities, and impacts, as well as their policies, action plans, and targets in this area. Additionally, they must ensure the traceability and auditability of this information by implementing robust processes to collect and structure the necessary data for their new reporting.

Although complex, the CSRD is seen as a major opportunity to improve performance and transform companies. By putting sustainability at the heart of their strategy, companies can not only meet regulatory and stakeholder expectations but also ensure sustainable and innovative prosperity.

The CSRD is therefore a potential catalyst for transforming companies and evolving their business models towards greater sustainability. It can serve as a model for other regions of the world seeking to strengthen their own sustainability standards.