Nostra
Diamond Member
- Oct 7, 2019
- 90,091
- 81,880
- 3,615
The Democrats care nothing about how much Americans pay from MMGW green scam regulations.
Been paying them for decades, and they obviously hurt the poor most.
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Client Challenge
Many companies are reluctant to talk about costs. But one multinational, which did not want to be identified, tells the FT that the only cost-effective way to comply with the 2023 Corporate Sustainability Reporting Directive is to digitalise everything — which can be difficult in some developing countries where suppliers still provide paper invoices.
The CSRD, which will apply to reports published from next year, demands information about companies’ impact on people and the environment, allowing investors to assess the financial risks and opportunities arising from sustainability issues.
The company estimates it has spent $18mn in the past three years on automating its carbon emissions data, and expects to spend another $50mn-$60mn over the next three to five years to comply fully with the CSRD. On top of this, it anticipates millions of dollars in annual costs for data compliance and auditing.
The company will also have to comply with the Carbon Border Adjustment Mechanism, at a cost of at least $500,000 a year. The CBAM is intended to protect EU heavy industry, which must pay for its carbon emissions under the bloc’s emissions trading scheme, from being undercut by producers in countries with more lenient rules. From 2030, it will levy a charge on imports of steel, cement and other products to account for the carbon emitted while making them
Client Challenge
Been paying them for decades, and they obviously hurt the poor most.
Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at What is a Gift Article?.
Client Challenge
Many companies are reluctant to talk about costs. But one multinational, which did not want to be identified, tells the FT that the only cost-effective way to comply with the 2023 Corporate Sustainability Reporting Directive is to digitalise everything — which can be difficult in some developing countries where suppliers still provide paper invoices.
The CSRD, which will apply to reports published from next year, demands information about companies’ impact on people and the environment, allowing investors to assess the financial risks and opportunities arising from sustainability issues.
The company estimates it has spent $18mn in the past three years on automating its carbon emissions data, and expects to spend another $50mn-$60mn over the next three to five years to comply fully with the CSRD. On top of this, it anticipates millions of dollars in annual costs for data compliance and auditing.
The company will also have to comply with the Carbon Border Adjustment Mechanism, at a cost of at least $500,000 a year. The CBAM is intended to protect EU heavy industry, which must pay for its carbon emissions under the bloc’s emissions trading scheme, from being undercut by producers in countries with more lenient rules. From 2030, it will levy a charge on imports of steel, cement and other products to account for the carbon emitted while making them
Client Challenge
