Non-profit
Social & Labor Convergence Program (SLCP) has published new guidance on how
its actionable and reliable data can help with EU Corporate Sustainability
Reporting Directive (CSRD) compliance.
The guidance illustrates
which aspects of SLCP’s Converged Assessment Framework (CAF) can support EU
CSRD compliance, and which are out of its scope.
International Trade Centre Head of Trade for
Sustainable Development Joe Wozniak says: “Clear and transparent guidance that
outlines SLCP’s role in supporting European Sustainability Reporting Standards
implementation is essential particularly for smaller companies to effectively
navigate the Corporate Sustainability Reporting Directive (CSRD).
“To ensure robust disclosures, companies
must rely on credible data that furthers transparency of their supply chain
impacts on workers – something that adopting SLCP can facilitate as this
Guidance demonstrates.”
SLCP explains as the world moves towards mandatory corporate
sustainability reporting, the CSRD emerges as a pivotal regulatory development
for companies both within and outside the EU.
It continues: “The Directive aims to enhance
transparency and accountability in addressing human rights risks across global
supply chains. SLCP’s CAF, which is designed to align with international labour
standards and national labour laws, provides actionable and reliable data to
support effective human rights disclosures.”
SLCP’s CAF is mapped against international
labour standards and national labour laws, which allows users to collect data
that can be valuable for human rights disclosures.
Foundational social assessment: The CAF is a broad social assessment that can
support companies when reporting under the CSRD. By capturing data on a wide
range of social and labour compliance topics, it comprehensively covers many of
the relevant disclosure requirements.
Priority on data quality and
integrity: Credible and
actionable data, a priority for effective disclosures, is one of SLCP’s four
strategic aims in its 2024-2028 strategy. SLCP commits to nurturing,
maintaining, and evolving a programme that delivers credible, trustworthy,
quality data enabling integration, comparability and insights. SLCP aligns with
the data quality principles stated in qualitative characteristics of
information ESRS-1 section – relevance, faithful representation, comparability,
verifiability, and understandability.
Alignment with international labour
standards and national labour laws: SLCP works with key industry stakeholders to map the CAF against
international labour standards and national labour laws. This means that the
data collected is highly relevant to any emerging policy which aligns with the
existing standards. Likewise, SLCP annually maps the Tool questions against key
policies and regulations to strive towards further alignment.