Aerial photo of a road passing over the countryside with one lone truck on it.

Transportation and Automotive

The 2024 EU ESG (Environmental, Social, and Governance) reporting standards and frameworks are set to significantly challenge the transportation and automotive industries. With the EU’s push towards a greener, more transparent economy, these industries are facing increased scrutiny and regulatory obligations. The 2024 standards, largely influenced by the Corporate Sustainability Reporting Directive (CSRD), aim to provide stakeholders, including investors and consumers, with detailed, transparent, and standardised information on how companies are managing their ESG responsibilities.

These new regulations emphasise environmental accountability for companies in the transport and automotive sectors, which are among the largest contributors to carbon emissions and environmental degradation. The EU’s 2024 ESG standards mandate these sectors to disclose detailed data on their carbon footprint, from production and operations to end-of-life vehicle disposal.

The EU has placed emphasis on resource efficiency, recycling, and waste reduction. Automotive companies must report on their use of raw materials, particularly rare earth metals used in electric vehicles, and how they plan to recycle or reuse these materials. On top of this, companies are also required to provide greater transparency on how they ensure fair wages, safe working conditions, and human rights throughout their global supply chains.

The Challenge

The transportation and automotive industries face challenges in meeting ESG requirements, particularly in reducing emissions, ensuring ethical labor practices, and navigating ever-evolving regulations.

Tracking full lifecycle emissions, ensuring sustainable supply chains, and addressing social impacts increases the complexity of transparent reporting. Companies must make sure they balance their operational demands with the need for detailed and accurate ESG disclosures.

Our Solution

Unannounced Site Inspections

Ground Truth Reporting provides real-time, on-the-ground insights into actual conditions, offering a more accurate and responsive method of assessing ESG performance.

Verifying Supply Chain Compliance

Our Ground Truth Reporting is effective in monitoring labour conditions and ensuring that ethical practices are followed throughout the supply chain.

Empowering Governance

Ground Truth Reporting provides operational insights that can be shared directly with governance bodies, allowing for better decision-making based on accurate and up-to-date information.

The Outcome

The 2024 EU ESG reporting standards present significant challenges for the transportation and automotive industries, requiring comprehensive, accurate, and transparent reporting on environmental, social, and governance practices.

Ground Truth Reporting from VICTVS is an indispensable tool that helps companies navigate these complexities by providing real-time, flexible, and accurate assessments of supply chain conditions. By leveraging Ground Truth Reporting, companies can ensure compliance, improve their sustainability performance, protect their reputation, and stay competitive in an increasingly ESG-driven market.

Countries

Independent Inspectors

180

Source of Truth

What our Clients Say

“VICTVS has revolutionized our ability to maintain oversight over our supply chain. With Ground Truth Reporting, we are able to get real-time data and insights so that we can effectively monitor compliance with ESG regulations, ensuring that our practices meet sustainability and ethical standards.“

H Andrews, Fleet Director

Find out how Ground Truth Reporting can help you.

For more information about our work with the Fashion and Retail industry, please contact us here.