On October 15, 2024, EARSC participated in a panel discussion on Corporate Sustainability Reporting (CSR) at the “Reframing the EU Landscape for Corporate Sustainability Information” event, organized by GreenDIA and the 2° Investing Initiative. The event also marked the launch of the policy paper, “Reframing the EU Landscape for Corporate Sustainability Information”.
The event brought together policymakers, NGOs, and associations focused on sustainability, discussing data strategies to improve the validity and connectivity of sustainability information. EARSC was part of a panel the following panel, which included:
- Michael Remiorz from Verband Region Rhein-Neckar, who delivered an impulse speech on the need for better SDG monitoring through corporate data.
- -Felicitas Sommer, Project Manager at TUM University, who spoke on the role of georeferenced data.
- David Cooke, Law and Policy Lead at the 2° Investing Initiative, who moderated the discussion and presented the policy paper alongside #GreenDIA representatives.
The panel emphasized that CSR is multifaceted, covering Environmental, Social, and Governance (ESG) metrics and the Sustainable Development Goals (SDGs). While CSR helps companies showcase their societal contributions, it often focuses narrowly on corporate initiatives, lacking holistic integration of environmental and societal impacts. The discussion highlighted the need for a shift toward using satellite-derived and Earth Observation (EO) data in Monitoring, Reporting, and Verification (MRV) processes. Geospatial data can significantly improve the credibility and accuracy of sustainability reports by providing real-time insights into environmental and social impacts. An emerging focus of the panel was on integrating carbon credits and biodiversity credits into CSR reporting, as well as tracking CO2 emissions and energy efficiency.
The discussion concluded with how incorporating EO data can enhance sustainability certification processes, improving transparency and streamlining reporting. EO data can also standardize practices, offering tangible, location-based insights that go beyond compliance checklists. For example, geolocation and EO data are already used in the EU Regulation on Deforestation-Free products (EUDR) to track cocoa imports from Central America, providing this connection in the framework of a sustainability voluntary approach.
Incorporating satellite imagery and geospatial data into European Sustainability Reporting Standards could revolutionize how companies assess and report their environmental and social impacts.
The SDGs-EYES project is organising user uptake webinars to foster engagement among the SDGs-EYES pilots and community of users that can benefit from EO-driven solutions to monitor SDGs indicators. Do not hesitate to contact francesca.piatto@earsc.org and monica.migue-lago@earsc.org for more information.