E461 – Current & Critical – Conor Chell, Global Regulatory Trends: New Compliance Demands and Business Adaptation
“The impact and reach is more significant with Bill C-59 because it doesn’t apply only to publicly traded companies. It applies to any company.”
Conor emphasizes the opportunities these regulations present, explaining how companies that substantiate their sustainability claims can stand out in a crowded marketplace. However, he also doesn’t hesitate to discuss many organizations’ frustrations, particularly the lack of clarity and consultation in how these laws are implemented. The compliance burden can seem overwhelming for many, especially with the increasing need to audit global supply chains. However, Conor argues that those who invest in understanding and acting on these requirements can emerge as industry leaders. Businesses must stop viewing ESG reporting as a compliance burden and start seeing it as a competitive advantage. By embracing transparency and tackling issues like forced labour head-on, companies can build stronger brands and foster trust with consumers and investors.