The EU has set ambitious targets to decarbonize the economy by 2050. Citizens and businesses are committed to bold moves to achieve net-zero CO2 emissions over the coming decades.
To achieve these targets and the radical changes needed in the way we produce, transport and use goods and services, one element is essential: trust.
We know that consumers are confused about the right choices to make to ensure the goods and services we use are produced in a sustainable way.
A bewildering range of labels claiming products are ‘green’ or ‘sustainable’ can add to confusion rather than bring clarity. Challenges in verifying the accuracy and reliability of these labels serve only to undermine trust.
A 2020 study by the European Commission found that 53 percent of environmental claims made by companies were vague, misleading or unfounded, while 40 percent were unsubstantiated.
Like consumers, investors also need certainty that they are backing projects that will help to decarbonize the economy.
Similarly, we will not be able to achieve the transformation of our economy, business and energy sectors without massive investment. Like consumers, investors also need certainty that they are backing projects that will help to decarbonize the economy. Regulation setting out new standards is essential to set out the direction that businesses need to pursue. But rules will not be enough on their own.
We must therefore ensure that investors have accurate and comparable information about companies’ impacts on the environment to guide their investment decisions.
Trust, from consumers and businesses, is essential.
Fortunately, the EU has taken and continues to take steps to boost confidence in companies’ green claims and to provide investors with a reliable framework to guide where they put their money.
Rules on green claims are currently being discussed by national governments and MEPs. When agreed and implemented, these rules will make it easier for consumers to decide which products to buy and therefore to encourage sustainable production.
The EU’s legislation on corporate sustainability reporting and accompanying standards will require companies to be more transparent about how their products and services are produced, so that private consumers and businesses can make purchasing and investment decisions based on reliable and verifiable declarations.
Verifiability is a key word in the drive for more dependable information.
Building collective confidence in actions taken in the name of sustainability will be essential to driving the transition to a net-zero economy.
Building collective confidence in actions taken in the name of sustainability will be essential to driving the transition to a net-zero economy. That is where the testing, inspection and certification (TIC) industry can play its part in the transition. Members of the TIC Council offer a wide range of services that can deliver the trust that is needed to successfully incentivize consumers and businesses to make pro-sustainability decisions.
Our members offer, for example, conformity assessment services to a diverse range of industry sectors — from energy and utilities, to food, agriculture and chemicals — as well as on issues that cut across industry sectors, such as climate change and artificial intelligence.
When it comes to reporting on the environmental impact of companies’ operations, independent, accredited third parties can establish the trust that has to date been lacking. Furthermore, the application of recognized standards at EU or international level, including the sustainability frameworks set up by the International Organization for Standards (ISO), ensures comparability for consumers, investors and businesses.
The TIC sector has long-standing technical expertise and in-depth knowledge of processes. It uses these to help companies to report their sustainability performance in a standardized and verifiable way.
Thanks to our global, multisectoral network, we can send expert teams to the premises of our customers and their international suppliers to assess and evaluate sustainability practices. Our expertise and experience in verification and certification makes us the best-qualified organizations to carry out this work.
We will be hosting our annual summit in Brussels on May 25, ‘How to reach net-zero in an uncertain world: will the EU’s ambitious policy framework speed up decarbonization across the globe?’ The summit will highlight the ways in which TIC companies can help the EU deliver its climate and sustainability promises.
The EU has made massive progress in putting in place the regulatory frameworks required to drive a successful green transition. Now, as we move to implementation, we must ensure that this ambition is matched with a corresponding increase in trust.
to deliver the green deal that European businesses, investors and consumers want, we need independent quality assurance.
Investors and consumers must have confidence in companies’ sustainability performance. In turn, companies deserve the opportunity to demonstrate their compliance with robust regulatory frameworks and to show that the move to a sustainable, decarbonized economy is at their heart of the business model and practices.
Simply put: to deliver the green deal that European businesses, investors and consumers want, we need independent quality assurance. To reach a future where the planet can thrive, society needs the TIC industry.
About the TIC Council
The TIC Council is an international nonprofit association acting as the voice of the testing, inspection and certification industry. The TIC Council brings together over 100 member companies and organizations active in more than 160 countries, spanning every continent, and speaking with one voice worldwide.