Mar 27 2024

CSRD Obligations on Decarbonization Strategies
Divers

Conference: Examining the Implications of CSRD Obligations on Decarbonization Strategies

The Luxembourg Maritime Cluster, the Cluster for Logistics and KPMG Luxembourg invited to a conference on the implications of the Corporate Sustainability Reporting Directive (CSRD) on decarbonization strategies on 26th March 2024. Mr. Henri Prijot, Partner at KPMG Luxembourg, welcomed the over 70 participants at the premises KPMG. Ms. Jil Brimaire of the Cluster for Logistics led through the conference with expert panelists with transportation, logistics, finance, and consulting backgrounds.

Mr. Thibaud Bastien, Advisor at the House of Sustainability gave an introduction to CSRD and Decarbonization. He explained the implications and the timeline for the different levels of companies.The Corporate Sustainability Reporting Directive (CSRD) aims to standardize non-financial reporting by companies, enhancing the consistency and quality of data. These new standards impact a vast array of companies and came into effect on 1st January 2024.

Mr. Charbel Moussa, Partner Sustainability at KPMG Netherlands, presented the strategy and reporting with examples derived from maritime companies. Regarding decarbonization, the companies are looking at several ways to reduce their impact. New energy sources and technologies as well as working with vendors to reduce strategies are some of the levers they can influence. Regarding the reporting, Mr Moussa notes that the companies should avoid to reinvent the wheel. A lot of information is already available but has to be connected. The initiative has another benefit: "CSRD will create a common language on the market."

Mr. Florian Czech, Head of Sustainable Development at CFL, gave an overview of the CFL strategy regarding CSRD reporting. The company needs to be CSRD compliant for the year 2025, which has to be reported in 2026. Working towards the CSRD goals are also an opportunity to bring everyone on board.

The dynamic panel discussion was moderated by Mr. Thibaud Bastien, Sustainability Advisor at the House of Sustainability. The panel included Mr Charbel Moussa, Mr Florian Czech, Ms. Julie Castiaux, Partner & Sustainability Lead at KPMG Luxembourg, and Ms. Catherine Wurth, Head of Sustainability at BGL BNP Paribas.

Mr. Daniel Kohl, Director of the Cluster for Logistics, and thanked KPMG and Ms. Axelle Salvage from the Cluster Maritime for their support with the conference. After the conference, the participants took part in the networking event sponsored by KPMG Luxembourg.