With the European Union poised to make environmental, social, and governance(ESG) reporting mandatory for global supply chains, many South African firms with EU customers will soon need to raise their game.
Among the key factors these ESG reports will need to cover in more detail is the question of how companies embrace their role as “stewards” of the country’s scarce water resources.
Companies subject to the CSRD will have to report according to European Sustainability Reporting Standards (ESRS).
South African companies are connected to global markets through commodities and capital markets and should expect ESG reporting soon to be mandatory.
Local suppliers and customers of scoped-in EU companies should prepare for this, as they may have to meet expanded ESG reporting demands from EU companies.
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