After intensive negotiations, the EU countries today agreed on the EU Supply Chain Act. CRIF Austria supports companies in evaluating their supply chains.
Vienna (OTS) – The EU states today agreed on the Corporate Sustainability Due Diligence Directive (CSDDD), known in this country as the EU Supply Chain Act. It requires companies to ensure that their supply chains are free from human rights violations and climate-damaging practices. CRIF Austria, a leading provider of data solutions, welcomes this development and emphasizes once again that the implementation of the CSDDD is easy to manage with the right technology. With SYNESGY, this has been around since 2020, so Boris RecseyManaging Director of CRIF Austria: “Our ESG platform SYNESGY evaluates the supply chains and their sustainability and presents them transparently. The administrative effort for companies is kept low. More than 400,000 companies successfully use SYNESGY worldwide.”
The use of SYNESGY is free for all companies in the first year; further certifications cost 200 euros each.
CRIF has been working in EU projects since 2017 to develop standards for evaluating the level of sustainability of companies and their supply chains. This enables the efficient and transparent evaluation of global supply chains. CRIF launched the ESG platform SYNESGY in 2020. Using data provided in a company self-assessment, the platform evaluates the supply chains and their sustainability and presents them transparently. Thanks to the automatic invitation management and performance dashboards, the administrative effort regarding the supply chain evaluation is low. The platform is available globally, enabling the visualization and evaluation of complex global supply chains. An internal rating agency certifies the level of sustainability of a company or its supply chain.
Important milestone for the European economy
The adoption of the CSDDD marks a significant step in the positive and sustainable transformation of the European economy “The purpose of this law goes far beyond simply collecting data: companies learn valuable information that they can use to improve their business and generate more revenue. The feared bureaucratic effort can be managed with SYNESGY at the click of a mouse.”
concludes Recsey away. The parliamentary committee responsible for the area could deal with the new law as early as the end of March or beginning of April, and a formal decision is expected in June – before the EU elections from June 6th to 9th.
About CRIF
CRIF is a strong solution provider with more than 70 branches in over 35 countries on four continents. The group’s focus is on protecting and strengthening the local economy. The focus of the CRIF group of companies is on data-based solutions for identity, risk management, fraud prevention and sustainability. Retail, banks, insurance companies and payment providers, along with consumers, are protected and strengthened by CRIF’s solutions. CRIF combines the best of two worlds: innovative technology with the best information & analytics. CRIF shapes the future of companies through innovative solutions that go far beyond comprehensive economic strengthening: They strengthen companies and offer preventive, holistic and efficient protection against possible risks. As part of the CRIF Group, CRIF Ratings is an ESMA-approved rating agency. www.crif.at
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