Latest news with #CSRD
Yahoo
9 hours ago
- Business
- Yahoo
Nine Out of Ten Organizations Say Sustainability Efforts Drive Business Success
PLM Users Report Stronger Support for Sustainability and Compliance ANDOVER, Mass., June 03, 2025--(BUSINESS WIRE)--Aras, a leader in product lifecycle management (PLM) and digital thread solutions, today announced findings from its new research report, The Future of PLM and Digital Engineering, highlighting the growing connection between sustainability efforts and business performance. According to the study, 92% of organizations say successful sustainability programs are essential to business success – an increase from 87% in 2024. The report also shows that digital maturity, particularly through PLM solutions, plays a critical role in meeting compliance demands and accelerating sustainability initiatives. "Sustainability today is about aligning regulatory compliance with operational excellence," said Roque Martin, CEO of Aras. "Organizations that embed sustainable practices into their day-to-day operations are better positioned to adapt, compete, and grow – regardless of how the requirements evolve." PLM Users Outperform in Sustainability ReadinessThe research found that 88% of PLM users believe their systems adequately support sustainability compliance – compared to only 60% of non-PLM users. These organizations are more capable of tracking product data, collaborating with suppliers, and addressing increasingly complex regulations such as the EU's Corporate Sustainability Reporting Directive (CSRD) and the Digital Product Passport. Digitally mature companies are also leading in technology adoption. Among PLM users, 87% are leveraging AI for product development – substantially higher than the 59% adoption rate among non-users. The findings reinforce that PLM has evolved beyond its engineering roots to serve as a strategic foundation for digital transformation. Data issues are holding companies backDespite this progress, many organizations still face challenges in operationalizing sustainability goals. Only 37% said their compliance initiatives are "well supported," and 18% acknowledged that their systems are inadequate. Challenges include missing or poor-quality data, disconnected tools, and lack of oversight. These aren't just technical hurdles – they represent real business risks. Without trusted data, organizations struggle to make informed decisions or future-proof their operations. With regulatory demands only increasing, now is the time for businesses to act. The research urges organizations to modernize their systems and strengthen their data foundations to stay ahead and build a lasting competitive edge. About the 2025 Global Industry Survey"The Future of Product Lifecycle Management and Digital Engineering" is a January 2025 survey based on insights from 656 executives in Europe, the US, and Japan. It examines how leading automotive, aerospace, and machinery manufacturers (revenues >$40M) are addressing AI adoption, digital thread integration, and regulatory compliance. Download the full report here. About ArasAras is a leading provider of product lifecycle management and digital thread solutions. Its technology enables the rapid delivery of flexible solutions built on a powerful digital thread backbone and a low-code development platform. Aras' platform and product lifecycle management applications connect users in all disciplines and functions to critical product data and processes across the lifecycle and throughout the extended supply chain. Visit to learn more and follow us on YouTube, X, Facebook, and LinkedIn. Copyright © 2025 by Aras Corporation and/or its affiliates. All rights reserved. Aras and Aras Innovator are registered trademarks of Aras Corporation in the United States and other countries. Third party trademarks mentioned are the property of their respective owners. View source version on Contacts Media: Jeff DrewGuyer Group for ArasP: 617.233.5109E: aras@
Yahoo
a day ago
- Business
- Yahoo
EU's Textile Recycling Excellence Project Creates New Blueprint
The European Union-funded Textile Recycling Excellence (T-Rex) Project wrapped with the completion of a blueprint for scaling textile-to-textile recycling processes for post-consumer polyester, polyamide 6 and cellulosic materials. The blueprint, which spotlights insights and recommendations for each phase of the value chain, has been informed by in-depth analysis conducted by the T-Rex consortium throughout the project. That analysis included assessing the technical feasibility, economic viability and environmental impact of the recycling value chain. More from Sourcing Journal EXCLUSIVE: Feben's Mini Twist Finds Pulp Friction With OnceMore Is Europe Ready for a Textile-to-Textile Recycling 'Tipping Point'? Trump Threatens EU With 50% Duties, Says Trade Talks 'Going Nowhere' The plan was formulated to address four key challenges: technical scalability, business viability, environmental impact and policy recommendations. Within technical scalability, two major obstacles stand in the way of textile-to-textile recycling—inefficient sorting processes and the need for pre-processing of garments. Current manual sorting methods have proven to inefficient and costly to scale, but advancements in automated sorting technology such as near infrared (NIR) and AI-powered systems could improve yield, throughput and identification of multi-layer or blended garments. Though the market potential of textile-to-textile recycling in the EU looks promising—with volumes of post-consumer textile waste suitable for recycling projected to reach 1.2 million metric tons by 2030—business viability remains challenging. That's primarily due to limited access to quality feedstock and a lack of infrastructure at scale. Scaling textile-to-textile recycling in Europe will require coordinated financial, regulatory and industrial efforts to overcome these issues. Ensuring textile-to-textile recycling reduces the environmental impact of fiber production hinges on both the type of material being recycled and the specific recycling technology used. Energy efficiency during the recycling process, as well as the entirety of the manufacturing and supply chain is critical for decreasing environmental impact. While the EU has some of the most progressive regulatory protocols for textile sustainability through its Corporate Sustainability Reporting Directive (CSRD) and European Sustainability Reporting Standards (ESRS), the T-Rex Project calls for additional governmental support and oversight. Proposed initiatives include economic incentives, end-of-waste criteria, recyclability standards and setting realistic, achievable targets for recycled content. According to the European Environmental Agency, more than 6.95 million metric tons of textile waste are generated annually in the EU, and that's projected to increase to 7.3 million metric tons by 2030. Much of that waste is incinerated or ends up in a landfill, with only 2 percent of post-consumer textiles in Europe diverted to fiber-to-fiber recycling. The T-Rex Project launched in 2022 to help combat that problem, assembling 13 stakeholders from across the textile value chain, including Adidas, Aalto University and Infinited Fiber Company, to develop a plan for closed-loop recycling of post-consumer household textile waste in the EU. While the project's recommendations create a framework for implementing scalable textile-to-textile recycling, the group maintains that this should be just one aspect of a larger-scale effort to reduce textile waste. That strategy should also prioritize reuse, repair and demand management of garments and other textiles. The full T-Rex blueprint will be available on the project's website,
Business Upturn
2 days ago
- Business
- Business Upturn
Camfil Releases 2024 Sustainability Report Emphasizing Transparency, Circularity, and Climate Action
Riverdale, NJ, June 01, 2025 (GLOBE NEWSWIRE) — In a year defined by heightened global expectations around corporate climate accountability, Camfil, a global leader in clean air technology, has published its 2024 Sustainability Report. The document offers a comprehensive, evidence-based account of the company's ESG progress, centered around measurable goals, rigorous data collection, and alignment with the EU's Corporate Sustainability Reporting Directive (CSRD). A Clear Shift from Rhetoric to Responsibility Camfil's latest sustainability report distinguishes itself with clear metrics and transparent reporting. The company disclosed total Scope 1 and 2 greenhouse gas emissions of 33,262 metric tons of CO₂ equivalent in 2024, up from 30,866 in 2023. The increase is attributed to business expansion, with mitigation efforts underway, including LED retrofit programs at its Conover facility in North Carolina and solar energy installations in Haslingden, UK and Ipoh, Malaysia. Camfil also advanced its commitment to circular design. Its AirCair Service—an end-to-end air filtration lifecycle solution—uses 100 percent renewable coconut-shell activated carbon and refillable CamCarb XG filters, significantly reducing landfill waste and industrial emissions. Global Standards, Local Actions With operations in more than 35 countries and a workforce of 5,700, Camfil's sustainability efforts go well beyond policy. The company's internal CamfilCairing 2024 campaign featured safety and health-focused activities across regional offices. Events ranged from emergency drills in Taiwan to employee wellness checks in the United Kingdom, all built around the theme 'Safety First.' Further, Camfil continues to influence industry-wide air quality benchmarks through its leadership in shaping ISO 16890, ISO 10121, and the upcoming Eurovent 4/26 standards. These contributions position the company not only as a manufacturer but as a global voice for clean air policy. Data-Backed Innovation Driving Results Camfil's proprietary Life Cycle Cost (LCC) software remains a cornerstone of its customer engagement strategy. The tool, backed by decades of real-world data, allows commercial clients to optimize their HVAC filter choices for energy efficiency and cost savings. According to the report, HVAC systems can represent up to 50 percent of a commercial building's energy consumption. Case studies in Thailand and Mexico demonstrated real-world impact, with CO₂ reductions exceeding 8,800 tons annually and energy savings that translated into hundreds of thousands of euros in cost reductions. Policy Meets Practice The report also addresses risks and areas for improvement. Camfil's first Double Materiality Assessment identified product recyclability, energy use, and labor conditions in global supply chains as priority areas. The company has responded by enhancing its supplier contracts, expanding whistleblower protections, and developing new governance frameworks to monitor these risks. On the social front, Camfil has implemented a group-wide Code of Conduct training, expanded anti-corruption programs, and set gender equity targets, including increasing women in leadership roles to 35 percent by 2030. 2024 Sustainability Highlights at a Glance Environmental Sustainability Camfil's guiding vision is rooted in the belief that 'Clean Air is a Human Right.' 55% of Eurovent-rated comfort filters achieved A+ or A energy ratings. The Life Cycle Cost (LCC) software continues to help clients reduce energy usage and cost. CO₂ Reductions: GPSC Thailand saved 8,800 tons CO₂/year—equivalent to 4,400 cars removed from roads. Pesquería, Mexico reduced CO₂ by 1,100 tons/year while adding €555,000 in annual profit. Refillable, recyclable products like CamCarb XG promote circular design. Solar and LED energy projects in the U.S., UK, and Malaysia are cutting emissions and costs. Social Responsibility Camfil employs 5,700 people across 35+ countries. CamfilCairing 2024 featured safety-focused events globally, including Malaysia, Sweden, and China. OSHA incident rate dropped to 1.7 in 2024 from 2.8 in 2023. 100% of new hires enrolled in Code of Conduct training; 75–85% completion rate reported. Over 70% participation in updated anti-corruption and trade compliance training. Resource & Waste Management Total waste decreased 8% year over year; 67% of waste was diverted from landfills. The AirCair Service uses renewable coconut shell carbon for VOC capture. The world's largest AMC filter regeneration center opened in Taiwan, creating 300 jobs. Clean Operations Total energy use for 2024: 101 GWh. Scope 1 & 2 emissions: 33,262 metric tons CO₂e, up due to operational expansion. 100% of Camfil sites are ISO 9001 certified; 40% have ISO 14001 environmental certification. Governance & Transparency A Double Materiality Assessment identified key ESG risks including recyclability and labor conditions. Camfil has aligned sustainability governance with EU CSRD mandates. Conflict mineral policies and a multilingual whistleblowing system support ethical sourcing and reporting. Source Links and Media Contact Official Press Release and Source Citations: Media Contact: Lynne LaakeDirector of Marketing, Camfil USA New Jersey T: 888.599.6620 E: [email protected] F: Friend Camfil USA on FacebookT: Follow Camfil USA on TwitterY: Watch Camfil Videos on YouTubeL: Follow our LinkedIn Page
Forbes
3 days ago
- Business
- Forbes
EU Employment Committee Draft Opinion Opposes Reductions In Sustainability Reporting
JUNE 26: People walk by an European flag (Photo by) The future of sustainability reporting in the European Union is in peril as legislators debate the Omnibus Simplification Package. The current proposal includes significant changes to the Corporate Sustainability Reporting Directive and the Corporate Sustainability Due Diligence Directives. As the legislative process unfolds in the Parliament, members are submitting proposed amendments through various committees. In the Committee on Employment and Social Affairs, a draft opinion expresses clear opposition to any reductions to the CSRD or the CSDDD. From 2020 - 2024, a trilogy of directives were passed by the EU to force businesses to address climate change and report greenhouse gas missions. The Taxonomy for Sustainable Activities created a classification system for business and investors to know what activities are considered green or climate friendly. The CSRD created requirements for businesses to report GHG emissions and other environmental, social, and governance actions. The CSDDD, also known as the CS3D, created legal liability for companies in relation to their supply chain. While the gains excited activists, the cost of these proposals on businesses and the broader impact on the EU economy became a theme during the 2024 European Parliament elections. The shift to the right in EU politics embolden opponents to the European Green Deal directives. As a result, the Commission proposed a package of new directives to 'reduce the burden' on businesses. The Omnibus Simplification Package was officially adopted by the Commission in February. The proposal is being debated in the Council and the Parliament. In the Parliament, the debate is public and working through multiple committees, giving interest parties and MEPs the opportunity to voice their opinions. The Committee on Legal Affairs, known as JURI, is the primary committee that will produce the legislation that will be sent to the full Parliament for a vote. However, related committees will draft opinions to be considered during the process. Each committee designates a rapporteur to lead the drafting. The Parliament states that a 'rapporteur is appointed in the responsible parliamentary committee to draft a report on proposals of a legislative or budgetary nature, or other issues. In drafting their report, rapporteurs may consult with relevant experts and stakeholders. They are also responsible for the drafting of compromise amendments and negotiations with shadow rapporteurs.' The amendments change the Commission's language in the Omnibus Simplification Package, not the original CSRD and CSDDD. Rather than offering sweeping amendments that encompass every change a MEP or Party wants to see, every change to every subparagraph is offered in a separate amendment. This results in a high volume of amendments. The Committee on Economic and Monetary Affairs, known as ECON, and the Committee on the Environment, Climate and Food Safety, known as ENVI, posted 987 amendments proposed by their respective members. In the Committee on Employment and Social Affairs, known as EMPL, the committee chose to post a draft opinion by the rapporteur before posting amendments by members. Committee members have until June 3 to offer amendments before the June 4 vote. European Parliament The draft opinion was submitted by MEP Li Andersson of The Left, rapporteur for the opinion. The draft included language that directly criticizes the Commission and objects to changes. While the opinion is may not be adopted as the final committee draft, and will likely have minimal impact on the final vote, the language will certainly excite activists and like minded MEPs. In the 'short justification' included in opinions to provide context for canges, Andersson made her opposition to the changes clear. "The current Commission proposal risks watering down the core elements of this newly established sustainability reporting and due diligence framework. Although the aim of simplification in terms of reporting duties for companies is laudable… simplification cannot mean broad sweeping deregulation that changes the entire purposes of the previous directives. Dismantling core parts of the legislation risks not only creating regulatory uncertainty for companies, barring proper access to justice for those harmed, but also hampers the availability of quality, comparable and granular sustainability data that is much called for by investors and business partners alike…" Of the MEP's 49 proposed amendments, 40 simply delete language proposed the Omnibus Simplification Package, leaving the existing language in original directives intact. This includes the employee thresholds for companies to fall under reporting requirements. Three proposed amendments include language that is worth highlighting. The first proposed amendment addresses the first paragraph of the Omnibus in which the Commission states their reason for the changes. The Commission references 'A simpler and faster Europe: Communication on implementation and simplification' sent on February 11 in which they outline their vision. Andersson, and many like minded individuals, took issue with the process used and the need for action. Original language as proposed by the Commission: '… the European Commission set out a vision for an implementation and simplification agenda that delivers fast and visible improvements for people and business on the ground. This requires more than an incremental approach and the Union must take bold action to achieve this goal…' Andersson's Proposed Amendment: "…the European Commission set out a vision for an implementation and simplification agenda, which is leading to unpredictability and legal uncertainty by rolling back on legal obligations recently adopted at Union level under the guise of reducing administrative burden. The consequences of such an agenda will have rippling effects, with increasing political risks particularly for first movers. In order to safeguard the ambition of the current legal acquis, it is important to oppose such measures." The second proposed amendment addresses the second paragraph in which the Commission states their goals. Andersson not only takes issue with, what some perceive as, an overbearing approach by the Commission, but also addresses concerns relating to the process used. Those concerns have resulted in an investigation by the European Ombudsman, although they are unlikely to impact the final result. Original language as proposed by the Commission: "In the context of the Commission's commitment to reduce reporting burdens and enhance competitiveness, it is necessary to amend Directives 2006/43/EC3 , 2013/34/EU4 , (EU) 2022/24645 and (EU) 2024/1760 of the European Parliament and of the Council, whilst maintaining the policy objectives of the European Green Deal, and the Sustainable Finance Action Plan." Andersson's Proposed Amendment: 'In the context of the Commission's commitment to reduce reporting burdens and enhance competitiveness, the Comission (sic) has declared that it is necessary to amend Directives 2006/43/EC3 , 2013/34/EU4 , (EU) 2022/24645 and (EU) 2024/1760 of the, without conducting any impact assessment and limiting public consultation to a closed-door stakeholder event.' A major theme in the push for simplification is the impact sustainability reporting could have on small and medium-sized enterprises. In addition to the high cost on businesses that are required to comply with sustainability reporting requirements, businesses interests also expressed concerns that the costs will adversely impact SMEs that are not required to report, but are indirectly forced to gather information in the course of doing business with large companies. The Commission has made it clear they want to prevent SMEs from being forced to pay to gather data beyond minimum requirements. Original language as proposed by the Commission: "Member States shall ensure that, for the mapping provided for in paragraph 2, point (a), companies do not seek to obtain information from direct business partners with fewer than 500 employees that exceeds the information specified in the standards for voluntary use referred to in Article 29a of Directive 2013/34/EU…" Andersson's Proposed Amendment: 'Where necessary in the light of resource and knowledge constraints of an SME that is a business partner of a company, Member States shall ensure that companies provide targeted and proportionate support. Support may include financial support, providing or enabling access to capacity building or training, or support in upgrading management systems or facilitating the upgrading of such systems in order to support the identification of adverse impacts.' The Committee on Employment and Social Affairs has placed the draft opinion on the June 4 meeting agenda. Committee members have until June 3 to offer their own amendments. Given the amendments proposed in other committees, expect conflicting opinions to be stated. The draft opinion will be sent to the Committee on Legal Affairs for consideration. The final vote in the Parliament is expected to take place on October 13. The Commission, Council, and Parliament will then meet to negotiate the final changes to the sustainability reporting requirements. They are expected to be approved in December.
Irish Examiner
4 days ago
- Business
- Irish Examiner
Accountability and clearer government strategies key to incentivise action
Ireland's sustainable future is at a crossroads. For businesses, sustainability has moved from a niche topic to a crucial factor directly influencing their financial health and operational future. As tough EU regulations loom, Irish companies are wrestling with complex legal requirements, financial risks, and the urgency of meaningful action. Liam McKenna, partner at Forvis Mazars, actively guides Irish businesses through this intricate sustainability landscape. The firm itself has evolved to meet global business demands. Initially known simply as Mazars, the Irish operation was part of a vast international network but lacked visibility in the critical US market. The strategic merger with Forvis, the eighth-largest financial advisory firm in the United States, filled this gap. Liam McKenna, partner at Forvis Mazars. 'US clients frequently needed international expertise, but Mazars had a relatively low profile stateside," says McKenna. "On the other hand, Forvis had substantial recognition in the US but lacked global reach. The network made perfect sense because of our aligned geographic interests and similar corporate cultures." Since June 2024, Forvis Mazars has leveraged this combined strength, helping clients navigate increasingly rigorous global sustainability requirements. EU regulation and the Omnibus Shift Central to current business anxieties is the EU's Corporate Sustainability Reporting Directive (CSRD), originally designed to increase corporate transparency. However, McKenna highlights that it has been controversial, particularly due to heavy burdens placed on SMEs. The Omnibus Directive, inspired by Mario Draghi's EU competitiveness report, seeks to ease these burdens by significantly scaling back and delaying reporting obligations. Initially, CSRD requirements applied to companies with over 250 employees; this threshold will now rise to over 1,000 employees, and enforcement timelines will extend by two years. Yet McKenna warns against complacency. 'Yes, the reporting obligations were tough, but they brought clarity and urgency,' he says. 'Without them, there's a risk companies will lose momentum toward real sustainability.' The bigger picture: Financial enalties and Irish Preparedness Ireland faces broader sustainability obligations under the national Climate Action Plan, closely tied to EU climate goals. With stringent emission targets approaching, McKenna points out the genuine risk of massive financial penalties. "Current estimates suggest Ireland could face fines ranging between €12 billion to €26 billion," McKenna says. "The irony is clear, taking action now would be considerably cheaper than paying huge fines later." Despite this logic, both Irish businesses and government actions have lagged. McKenna emphasizes the need for accountability and clearer government strategies to incentivise action. Gross EU consumption of renewable energy per type, figures supplied by the South East Energy Agency. Source: European Commission "The question we need answered is how the government intends to pass potential EU penalties onto businesses to encourage meaningful sustainability changes," he says. One discussed measure is significantly increasing carbon taxation. Currently at €63 per tonne, the tax could rise dramatically if Ireland faces EU fines. "We could see carbon taxes soar to €300 or €400 per tonne, drastically impacting business costs," McKenna says. From reporting to action: Genuine sustainability strategies With reporting pressures potentially easing, McKenna sees an opportunity for businesses to focus more on real sustainability initiatives. He advocates practical measures such as 'double materiality' assessments, a key CSRD element, which help businesses understand both their environmental impact and how climate change could affect their operations. "Double materiality assessments offer genuine business insights, far beyond ticking compliance boxes," McKenna says. "They guide strategic planning, help businesses anticipate climate-related impacts, and uncover efficiencies and growth opportunities." Voluntary standards and business opportunities Despite regulatory shifts, many companies are adopting voluntary sustainability frameworks aligned with CSRD principles. Forvis Mazars advises clients on such adopting standards tailored to their specific business needs and stakeholder expectations. "Many companies voluntarily report sustainability data because their stakeholders including banks, investors, and customers, value sustainable credentials," McKenna says. "Increasingly, sustainability translates directly into competitive advantage, lower costs, and stronger market positions." McKenna stresses that Irish businesses, although behind their international peers, must urgently shift from reactive compliance toward proactive sustainability strategies. "Even if sustainability seems a lower priority right now, global market expectations are rapidly shifting. Companies that fail to adapt will soon face serious disadvantages," he says. Time to act is now Ireland's approach to sustainability remains inconsistent, frequently distracted by immediate crises rather than addressing the underlying urgency of climate action. McKenna sees this as deeply problematic, suggesting Ireland has lost around five critical years due to delays. "Climate change doesn't pause for economic or political convenience," McKenna says. "We're already experiencing significant impacts, from extreme weather events to soaring insurance claims and infrastructure damage. Every delay makes solutions more expensive and complicated." He urges immediate action from businesses, independent of regulatory timelines, arguing sustainable practices aren't just ethically necessary, they're financially prudent. "Sustainability isn't just a regulatory hurdle; it's essential to future-proofing businesses," McKenna says. As Irish companies navigate uncertainty around regulation, McKenna's message is straightforward: sustainability must become a competitive advantage, not just a compliance obligation. "The risk of inaction isn't hypothetical," he says. "It's a certainty of future financial pain and operational challenges. Irish businesses face a stark choice, and the moment to act decisively is now.'
