On 1 January 2025, a new EU directive will require large companies to report on sustainability, affecting both EU-based and non-EU companies generating over €150 million in the EU market.
While the CSRD could benefit citizens, employees, suppliers, and workers, its lack of transparency may primarily enrich corporate shareholders and consultancy firms, leading to superficial compliance.
Instead of enforcing compliance, the EU should incentivize companies to invest in societal needs, turning CSR into a movement that enhances local community infrastructure like sports and education.
Cities and local authorities must set the agenda for social impact, presenting actionable data to drive investments from companies, thereby unlocking the 'S' in ESG.
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