The EU’s new Digital Product Passport (DPP): everything you need to know
Worldfavor Sustainability Blog
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1M ago
Published: March 2024 ..read more
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IFRS S1 and IFRS S2 explained
Worldfavor Sustainability Blog
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4M ago
Published: January 2023 ..read more
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COP28's impact on ESG reporting: key takeaways for your business
Worldfavor Sustainability Blog
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4M ago
Published: December 2023 The 28th annual UN Climate Change Conference, COP28, has just wrapped up. In a year witnessing the hottest months ever recorded, and with time running out to keep the Paris Agreement alive, the stakes for a COP meeting have never been higher. For the first time in COP history, the final draft included the need to “transition away” from fossil fuels, going beyond the previous language of merely "phasing out" or "phasing down.” This change is seen as a huge win – infusing the conference with renewed energy and hope. However, despite this progress, there still remains a ..read more
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What is sustainable procurement?
Worldfavor Sustainability Blog
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5M ago
Published: December 2023 The most impactful and transformative move a company can make towards becoming truly sustainable isn't necessarily through green initiatives or marketing campaigns: it's in the decisions they make every day, particularly in their procurement decisions. Did you know that for most products, about 80-90% of their greenhouse gas emissions fall into the Scope 3 category? These are indirect emissions born across a company’s value chain, and each part of a product's journey – extraction, processing, transport, packaging, consumption, and disposal – produces emissions that co ..read more
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CSDDD vs. CSRD: What’s the difference?
Worldfavor Sustainability Blog
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6M ago
Published: October 2023 In recent years, the European Union (EU) has shown a strong commitment to sustainability by launching its strategy to become a climate-neutral society by 2050, known as the European Green Deal. The Green Deal consists of a package of policies and laws aimed at enhancing sustainability in environmental, social, and governance (ESG) aspects.   Two of these directives are the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD). With these directives in place, companies no longer have the option to ..read more
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How to create an Environmental policy [+free template]
Worldfavor Sustainability Blog
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8M ago
Published: August 2023 An Environmental policy is a way for your company to acknowledge that its actions affect the environment and society. It helps you convey your commitment to environmental responsibility plus acts as guidance to your employees on how to achieve that.  However, creating an environmental policy can be a tricky task. But with the increasing demands from stakeholders and even legal requirements – it's kinda a must for staying relevant.    In this blog, we'll cover all you need to know before diving in, including a free Environmental policy template to kickst ..read more
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The Canadian Modern Slavery Act: fighting forced labor and child labor in supply chains
Worldfavor Sustainability Blog
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8M ago
Published: August 2023 The Canadian government is urging businesses to put the ‘social’ in ESG at the heart of their strategies.   ..read more
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ESRS, ISSB, and SEC Standards: a simple comparison guide
Worldfavor Sustainability Blog
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9M ago
Updated: July 2023 For years now, businesses and investors have called for a simplified sustainability reporting landscape. And at last, it might actually happen.  In 2022, three proposals were introduced for standardized sustainability disclosure: the EU's European Sustainability Reporting Standards (ESRS), SEC's proposed climate disclosure rule in the US, and ISSB's Sustainability Reporting Standards for global capital markets. In this blog, we've put together a short and sweet summary of these standards. What are the similarities and differences between them? How will they affect your ..read more
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CSRD: What is the double materiality assessment?
Worldfavor Sustainability Blog
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10M ago
Published: July 2023 Right now, there’s a total buzz around the concept of  “double materiality” in the corporate sustainability world, and for good reasons: Carrying out a double materiality assessment is actually the essential first step to comply with the EU’s new Corporate Sustainability Reporting Directive (CSRD), which kicks in January 2024 already. In other words: understanding what double materiality is and how to apply it within your company has never been more important.  To help you make sense of it all, we've created this blog. Find out what a double materiality asse ..read more
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EU’s new strategy for sustainable and circular textiles: everything you need to know
Worldfavor Sustainability Blog
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11M ago
Published: May 2023 The textile industry is known for its fast-paced cycles of production and consumption, with new trends emerging every season. But this obsession with newness comes at a great cost, both to our planet and to the people who make our clothes. Garment workers often suffer from inadequate wages and poor working conditions, while the textile industry has continued to roam freely as one of the least sustainable industries in the world.  To try and break this undesired trend, the European Commission has adopted a new strategy for sustainable and circular textiles in March 20 ..read more
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