Only 15% of the SDGs are achievable by 2030

Despite efforts to achieve the Sustainable Development Goals (SDGs), only 15% of all the established targets by the UN are on track to be reached by 2030.  According to the most recent UN report, it is important to implement specific measures, particularly from the business sector.

At the end of February this year, the European Commission (EC) presented a legislative proposal package aimed at reducing the administrative burdens on companies related to sustainability. However, this change has opened debate about the effective implementation of sustainability measures in this sector: 

• Postponing the implementation of the Corporate Sustainability Reporting Directive (CSRD).  This change is seen as slowing the transition toward greater transparency in sustainability, which could lead to greater uncertainty. 
• Narrowing the scope of the CSRD.  Reporting obligation is limited to large EU companies with more than 1,000 employees (and parent companies). Furthermore, the turnover threshold for non-European groups (such as the EUA) is significantly increased. Therefore, many small companies, such as SMEs, are exempt from reporting obligations under the CSRD. 
• Simplify the European Sustainability Reporting Standards (ESRS). This change makes management easier for companies, but it can reduce the quality and comparability of the reported information, reducing the importance of decision-making around sustainability. 
• Delays and possible weakening of the Corporate Sustainability Due Diligence Directive (CSDDD). This directive is considered crucial to ensuring that companies address their negative impacts on human rights and the environment. 

Although the EC seeks to reduce administrative burdens, sustainability remains a long-term business requirement. Given the challenges companies face in adjusting to the complexity of CSRD regulations and the growing need for transparency, it is essential to develop leaders with a global vision and robust analytical skills. The MSc in Sustainable Financial Management with Data Analytics from TBS Education – Barcelona is one of the many programs focused on providing comprehensive training.  “The real challenge for companies is not only to comply with regulations but to incorporate sustainability as a strategic element that promotes innovation and competitiveness in the global market,” says Diego Ravenda, program manager of the MSc at TBS Education.

Sustainability in Spain and the challenges to face

Although 64% of Spanish companies have already adopted measures to combat climate change, many of them face significant challenges in complying with CSRD regulations: 

• Adaptation to regulations and transparency: constant changes in regulations, need to communicate clearly and credibly
• Strategic and operational integration: sustainable supply chain management, sustainability-profitability balance, investment in net technology
• Financing and talent: difficulty in obtaining sustainable financing, lack of trained professionals, and education and corporate culture in sustainability.

Sustainability is becoming established as an essential criterion in business activities. Given the complexity of regulatory compliance, its constant evolution, and the growing demand for specialised leadership, educational institutions consider it essential to promote effective programs to address this emergency. “ Educating leaders in sustainability is no longer an option, but a requirement to ensure future economic and social progress ,” Ravenda points