The sustainable transformation and reporting obligations such as the Corporate Sustainability Reporting Directive (CSRD) pose major challenges to many companies in the petrochemical industry. As part of the EPCA Talents of Today, Leaders of Tomorrow (TTLT) Committee's ongoing commitment to fostering impactful leadership through ESG, EPCA together with d-fine launched a webinar series on the effective implementation of sustainability initiatives. With a dedicated focus on sustainability reporting, the series explored the basics of CSRD including the recently proposed changes through the EU’s Omnibus simplification initiative as well as sector-specific challenges and best practices to take actionable steps in a company’s sustainability journey. This whitepaper summarises the insights gathered from the webinar series to offer strategic recommendations for successfully navigating CSRD reporting requirements and driving sustainability initiatives amidst the evolving regulatory landscape.
The European Commission’s recent Omnibus initiative which led to an already adopted postponement of reporting requirements for some companies and furthermore proposes extensive simplifications of various sustainability-related obligations, including CSRD, is causing uncertainty among affected companies, since many proposed amendments are expected to be subject to controversial discussions during the course of the legislative process. At the same time, the proposed amendments, if adopted, will allow companies to focus on strategically relevant sustainability initiatives beyond mere compliance with reporting requirements. While the preferred course of action needs be determined by each company on a case-by-case basis, several focus areas should be considered in any case.
Effective sustainability leadership and governance play a crucial role in steering companies through the process of sustainable transformation. Developing the right leadership profiles capable of managing diverse challenges is essential for driving sustainability initiatives forward. By establishing robust governance structures that integrate sustainability into core business practices, companies can ensure that they are not just meeting regulatory requirements but actively contributing to their long-term strategic goals.
Strategic drivers for sustainability must align closely with corporate objectives to add real business value. By utilizing frameworks such as the CSRD's double materiality assessment, companies can identify and prioritize key sustainability aspects that are most relevant to their business and stakeholders. Furthermore, ESG data management is fundamental to ensuring the efficiency and reliability of sustainability reporting and steering. With a focus on strategically relevant KPIs, companies should constantly work on improving their ESG-related data basis by setting up a robust data governance framework and streamlining data collection processes.
By concentrating on these critical areas — sustainability leadership and governance, alignment with business strategy, ESG data management, and pragmatic operationalisation — companies in the petrochemical industry can not only meet their reporting obligations, but also the growing demands from stakeholders for transparent, accountable, and strategic sustainability actions.
CSRD in a nutshell
The Corporate Sustainability Reporting Directive (CSRD) in its current version imposes broad sustainability reporting requirements on about 50,000 companies across Europe. However, on February 26, 2025, the European Commission released legislative proposals referred to as the Omnibus package designed to simplify and streamline regulatory frameworks related to sustainability (Omnibus I2) and investment (Omnibus II). The sustainability package, which includes proposals for CSRD amendments, primarily aims to ease reporting requirements, reduce regulatory burdens, and boost the EU's competitiveness. The following section summarises the main principles and proposed amendments to the CSRD. […]
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Verfasst von
Johannes Rehn, Senior Consultant & Expert for Sustainability
d-fine
Denis Ludwig, Head of Chemical Industry Services
d-fine
