CSRD news and archive

How can brands and retailers navigate EU textile and garment regulations?

In the European Union, a person consumes on average 19 kilograms of textiles per year according to the European Environment Agency (EEA). Of those, 8 kilograms are clothing, 7 kilograms are household textiles and 4 kilograms are shoes. “Nineteen kilograms basically compare to what can fit in a large travel suitcase,” compared EEA expert on...

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Accompanying report helps navigate new GFA Fashion Impact Toolkit

A new Fashion Impact Toolkit, presented by the Global Fashion Agenda (GFA) and Deloitte at the Global Fashion Summit in June, wants to share a meaningful inventory of industry impacts for guidance on strategy assessment. But how to use it? And what are some of the key findings from the impact inventory? An accompanying report, published...

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Global Fashion Agenda and Deloitte launch new open-source Fashion Impact Toolkit

An new open-source and free to use toolkit has been developed by the Global Fashion Agenda (GFA) and Deloitte to share a meaningful inventory of industry impacts for guidance on strategy assessment. It keeps fashion sustainability teams in mind to help them understand, measure and leverage large amounts of data to drive positive change,...

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Dutch political party says European sustainability rules threaten competitiveness

The Dutch political party, VVD, has sent a strong message to Brussels. On June 12, members of parliament Thom van Campen and Claire Martens-America submitted a motion to the House of Representatives stating that two European directives concerning sustainability hinder European businesses from competing with businesses outside the EU, such as...

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EU’s sustainability reporting shake-up: What’s changing and what it means for fashion

The European Commission is moving forward with amendments to the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD) through its “Simplification Omnibus Package.” A leaked draft has sparked heated debate, revealing major shifts in reporting thresholds, compliance timelines, and due...

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Is the EU simplifying or weakening corporate sustainability standards?

The European Union has introduced a raft of sustainability regulations to ensure that companies meet certain due diligence and reporting standards. But recent political moves have raised concerns that these laws, still in their infancy, could be weakened before they are even properly implemented. This raises an important question: could the EU...

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How to comply with the CSRD? Frontrunner Schijvens Corporate Fashion shares the tips for SME companies

Schijvens Corporate Fashion is a leader in sustainability and has taken a pioneering role in preparing for the CSRD. Although the reporting requirement is not yet in effect for SMEs, the Brabant-based family business, which falls into this category, has already provided sustainability information with its latest annual financial statement...

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The 7 biggest sustainability reporting mistakes that damage fashion brands’ reputation

The end of the year is approaching, bringing with it a recap of everything accomplished over the past months. December is a time for wrapping up, and fashion brands begin preparing their annual reports. Sustainability stands out as the key focus in non-financial reports. Whether due to regulatory requirements or the need to convey transparency...

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“Status of German Fashion 2024”: Between tradition and digitalisation

The Fashion Council Germany (FCG) and eBay Germany recently published the study “Status of German Fashion 2024”, which, in conjunction with the research institute Oxford Economics, examined the economic significance of the German fashion industry (clothing, footwear, accessories, bags and jewellery). The study also looked at the key challenges...

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Comprehensive reporting on sustainability is or will become mandatory: Here's what you need to know about the Corporate Sustainability Reporting Directive (CSRD)

“Traditionally, financial reports have been the main focus of corporate reporting,” explains fashion professional Melissa Wijngaarden. Many companies compile annual reports that recount their activities over the last year. An integral part of this report is the financial statements, which summarize the company's financial situation. This allows...

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New environmental regulation and a greenwashing crackdown: So what does that mean for fashion?

The EU’s Corporate Sustainability Reporting Directive (CSRD) was just passed in January 2023. Encompassed in the EU Strategy for Sustainable Textiles which itself is anchored among other wider schemes such as the Circular Economy Action Plan (CEAP) and The European Green Deal, the new CSRD will require nearly 50,000 qualifying large...