New EU Regulation May Require Reporting by US Suppliers
The European Union’s Corporate Sustainability Reporting Directive (CSRD), with requirements effective in a phased manner starting in 2024, is expected to directly impact about 10,000 non-EU companies, with more than 30 percent of these located in the US, according to the legal firm DLA Piper.
The CSRD requires companies to report sustainability risks throughout their value chain, and even companies that are not directly regulated may see an increase in calls to submit information from customers and other business partners reporting under the CSRD. US businesses can begin to assess whether they will be indirectly brought into the CSRD’s reporting regime through value chain reporting, either by familiarizing themselves with the regulations or proactively reaching out to their partners to begin discussions on what may be required from them. For more information, contact John Schweitzer at ACMA.