On 19 September 2024, EuroCham Food, Agri & Aqua Business Sector Committee (FAABS) hosted an insightful Breakfast Talk, bringing together experts from KPMG, De Heus, and Les Verges Du Mekong to discuss the Corporate Sustainability Reporting Directive (CSRD) and its implications for Vietnam’s agriculture and food sector.
The focus of the event was on understanding the challenges and opportunities posed by the CSRD, a new EU regulation set to impact Vietnamese companies supplying or operating in the EU market. The directive, which emphasises “double materiality” by assessing both financial and environmental/social impacts, will require compliance from 2025 onwards.
Key Insights from Industry Leaders
Experts at the event outlined both the benefits and hurdles of CSRD compliance. While it can enhance a company’s reputation and open doors to new markets, it also brings challenges such as managing vast amounts of data and navigating complex sector-specific regulations.
- Sustainability Initiatives: De Heus highlighted their efforts to reduce antibiotic use in farming, invest in renewable energy, and enhance sustainable sourcing practices to align with global climate goals.
- Pesticide-Free Agriculture: Les Verges Du Mekong shared their successful efforts in creating safer, pesticide-free agricultural supply chains through collaborations with global partners.
Our Call to Action
EuroCham encouraged Vietnam’s food and agriculture businesses to stay ahead of these evolving sustainability standards to ensure compliance and take advantage of new market opportunities. The Breakfast Talk offered a platform for these businesses to engage with the growing importance of sustainability in their operations, fostering progress in Vietnam’s agricultural sector.
For more information on upcoming EuroCham events and initiatives, please visit our website.
For FAABS inquiries, please kindly contact Sector Committee Coordinator Mr. Nguyen Minh Dang KHOA via khoa.nguyen@eurochamvn.org
