Due diligence laws are reshaping sustainability

BERNO, Switzerland, June 13, 2024 /PRNewswire/ — We cannot meet our world’s most pressing challenges unless businesses, governments and partners strengthen due diligence, reporting, supply chains and procurement.

New due diligence rules raise the bar for businesses, but compliance alone is not enough.

For now, a smart combination of regulatory and voluntary measures, together with investment, will be essential to mainstream sustainability for the benefit of all.

These urgent messages galvanized the work at today’s ISEAL Global Sustainability Symposium 2024. Through expert insights, discussions and networking, participants discussed what an effective due diligence partnership will look like and what roles different actors will play to achieve sustainability goals .

Stressing the importance of today’s conversation, Karina KreiderExecutive Director of ISEAL, said: “ISEAL is proud to support and challenge sustainability systems and their partners to achieve greater sustainability impact.”

“Today we welcome a broad debate that helps chart the future of the broader sustainability movement of which we are all a part.”

“As new social and environmental corporate due diligence requirements come into force, how they are implemented is our top priority.”

“We are delighted to see how engaged participants are with these topics and how powerful today’s dialogue was.”

Changing behavior for decades to come

We are seeing new regulations around the world that require companies to report on their sustainability due diligence, eco-declarations and other impacts.

“Now is the game-changing moment in the sustainability movement,” said Karin. “The pressure is on companies and their partners to succeed.”

“Today, the ISEAL Global Sustainability Symposium brings together key corporate stakeholders, decision-makers and sustainability systems to define the future for years to come.”

The story continues

Richard Howittstrategic advisor on corporate responsibility and sustainability, business and human rights and former Member of the European Parliament, was the keynote speaker at today’s event.

“ISEAL is ahead of the curve, but how do we maintain our competitive edge? This future will involve Generation Z, increased investment in the area of ​​ESG, CSR and due diligence,” said Richard.

“On a personal level, this will include all participants in this global movement, as we all stand for progress and people-centeredness, as we all face challenges.”

Supporting a more sustainable business environment

Examining some of the key topics from today’s Symposium, Richard notes that the conditions for accelerating work on sustainable business development are becoming increasingly favorable.

“We must carefully celebrate what has just happened Europeand not only that Europe; it’s happening all over the world,” he continued.

“Of course, there is still a lot of hard work to be done. We need to look at the differences between a compliance approach and a development approach and the choice of how to implement it.”

“It’s largely about this polarization of power, but of course it’s also about standardization. What does striving to change the system give us – and how successful will it be?”

A new reality that changes the rules of the game

“Voluntary standards have made a significant contribution to more sustainable production systems,” said the Ambassador Ivo GermanHead of the Directorate for Foreign Economic Affairs, Swiss Secretariat of State for Economic Affairs (SECO).

“We are confident that they will continue to play an important role in the future in implementing new sustainability regulations in society.”

“Switzerland “It advocates an ‘intelligent combination’ of mandatory and voluntary mechanisms to stimulate more sustainable production that leaves no one behind,” he concluded.

The ISEAL 2024 Global Sustainable Development Symposium is organized with the generous support of: Swiss State Secretariat for Economic Affairs (SECO).

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SOURCE ISEAL Alliance