Panel Discussion: Due Diligence of Sustainability Impacts

April 20, 2023 – Yesterday, a conference focused on sustainable business practices, titled “Sustainability – How to Successfully Navigate the Sea of Regulations?” was held in Zagreb. It was organized by the Croatian Business Council for Sustainable Development (HR PSOR) and msg global solutions. One of the participants in the panel “Due Diligence of Sustainability Impacts” was the Head of our Department of Nature Protection and Landscape Architecture, Andreja Pavlović, who shared insights on assessments of a company’s main impacts and how a broader perspective is needed for an in-depth sustainability assessment. The panel was moderated by Mirjana Matešić, and the two other panellists were Amorella Horvat Topić from PwC and Nataša Gladović from Atlantic Grupa.

The panel focused on a recently introduced requirement of the Corporate Sustainability Reporting Directive (CSRD) concerning the preparation of sustainability due diligence. The Organisation for Economic Co-operation and Development (OECD) refers to these assessments as “due diligence,” which involves proactive management of actual and potential negative impacts and effects associated with a company’s operations and value chain.

Although this is a major undertaking for many companies as it implies familiarity with at least three international instruments of the UN and OECD concerning human rights and responsible business conduct, this requirement is a crucial prerequisite for a thorough examination of risks, opportunities, and impacts in business and across the entire value chain. It aims to enhance the capacity of the administrative, management and supervisory bodies to recognize risks and opportunities related to the identification and monitoring of a company’s impact on the environment and society, which must be reported under the cross-cutting European Sustainability Reporting Standard General Discloses ESRS 2.

We thank the organizers for inviting us to participate.

You can find more about our sustainability reporting services here: link.

Oikon d.o.o.
Oikon d.o.o.