ESG Report2025 v2 - Flipbook - Page 52
PREPARING FOR THE
FUTURE
GETTING IT RIGHT
& STAYING AHEAD
IS ESSENTIAL
SMI’S APPROACH
TO CSRD
COMPLIANCE
As part of our ongoing dedication to
responsible business practices and
transparency, we are proactively preparing
to comply with the upcoming Corporate
Sustainability Reporting Directive (CSRD)
and Corporate Sustainability Due Diligence
Directive (CSDDD) regulations. These new
EU regulations will signi昀椀cantly reshape the
way businesses report on their sustainability
impacts and manage risks related to human
rights, environmental issues, and governance
practices across their supply chains.
The CSRD marks a noteworthy shift
regarding reporting as it expands the
scope of non-昀椀nancial reportage to provide
stakeholders with more detailed, accurate,
and accessible information about a wide
range of ESG topics and the company’s
impact on the planet. The primary objective
it to drive accountability and transparency
as the report moves past regulatory
requirements or compliance and o昀昀ers
companies the chance to broaden their
oversight on any risks or opportunities facing
them.
SMI’S APPROACH
TO CSDDD
The CSDDD is another anticipated regulation
by the European Union. The directive
requires companies to conduct thorough due
diligence to identify, prevent, and address
potential or actual adverse impacts related
to environmental issues, human rights
violations, and governance concerns within
their operations and supply chains.
Key aspects of CSDDD include:
• Due diligence requirements
• Stakeholder accountability
• Transparency and reporting
• Liability
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We are committed to meeting these
requirements by:
• Strengthening our reporting mechanisms
to ensure comprehensive disclosure of
our ESG monitoring methodology and
sustainability performance.
• SMI in line with CSRD standards will work
towards aligning our internal systems to
collect, analyse, and report data ensuring
transparency and consistency in our
sustainability disclosures.
• To ensure the accurateness of our reports,
we will collaborate with external auditors
and certi昀椀cation bodies to validate our
sustainability data and claims.
