Yesterday, we concluded a 1.5-day experience exchange session on sustainability. Key stakeholders involved in the formulation of sustainability strategies, concepts, and reporting for TROX and ZIEHL-ABEGG were sitting together to discuss the current state of sustainability within our companies and the establishment of global industrial sustainability standards. We came to the consensus that existing regulations and standards require further development. There is a pressing need for a more clearly defined framework across different industries for the preparation of sustainability reports, as the current landscape allows for too much variance in the interpretation of fundamental data.
Comparing the current discourse on sustainability in industry, academia, and politics with the well-established norms for financial reporting, it becomes evident that sustainability reporting is still in its infancy. It took accounting standards over a century to reach the level of sophistication we have today.
As an industry, it is imperative that we develop a transparent, comprehensive, and standardized sustainability reporting system that is obligatory for all market participants. Realistically, this development will take time. The primary challenge lies in obtaining the necessary raw data to accurately measure environmental impact, rather than in conceptualizing the framework.
We perceive sustainability as a cornerstone of modern industrial strategies.
Companies unwilling to embrace sustainability as a fundamental obligation will struggle to survive in the long run.
The team from TROX GmbH and Heinz Trox-Stiftung
Christine Roßkothen
Clara Lammermann
Pia Bossems
Lars Gruyters
And ZIEHL-ABEGG SE
Felix Beck
Jessica Sommer
Victoria Gebhardt
Michael Marzina
Marc Wucherer
Marco Rüttgers
Uwe Richter
#BesteKollegen #CSRD #Sustainability