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Lutech Adopts the Corporate Sustainability Reporting Directive

The preparation of the Sustainability Report for the year 2023 according to the new European CSRD is underway

Responsibility: A Commitment to Growth

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Lutech has begun drafting the 2023 Sustainability Report with a significant innovation, continuing the trend of constant improvement that has characterized all previous reports. With the first Sustainability Report prepared for the year 2021, Lutech gained awareness of its positioning on key issues and established a reference baseline, objectives, metrics, and a set of internationally recognized indicators necessary to measure future progress. In 2022, internal reflections on the importance of ESG topics were integrated with updates to the Global Reporting Initiative (GRI) reporting methodologies.

This year, in its third year of Sustainability reporting, Lutech will take a further step forward by opting to comply with the Corporate Sustainability Reporting Directive (CSRD) two years ahead of the legal requirement and drafting the Sustainability Report in CSRD simulation. This introduces even more detailed transparency obligations regarding companies' impact on the environment, social standards, and governance based on common criteria aligned with EU policies.

Through this directive, the European Union aims to achieve three main objectives:

  • Extending the current regulation regarding the disclosure of non-financial information. The introduction of the CSRD significantly expands the scope of companies involved in sustainability reporting compared to the current NFRD (Non-Financial Reporting Directive) and will enhance sustainability reporting, equating the relevance of ESG results with traditional financial statements and recognizing their natural connection.
  • Contrasting wokewashing, the practice of simulating environmental and social commitment to improve corporate reputation. Companies will no longer be able to present a falsely ecological and ethical image. Ambiguous, approximate language or unclear technicalities will no longer be accepted; the sustainability report must be transparent and ensure the comparability of ESG performance information among companies.
  1. Strengthening sustainability communication to fully exploit the opportunities offered by the European single market and effectively contribute to the transition towards a more inclusive and sustainable financial and economic system.
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