Trade association European Travel Retail Confederation (ETRC) has published a report for its membership with the aim to help them better navigate incoming EU sustainability regulation.
Titled ‘Mapping and Impact Analysis of EU Sustainability Regulation’, the report was unveiled during a members’ webinar yesterday (19 September).
The document was developed in partnership with Brussels-based agency Kreab Worldwide. It provides a comprehensive review into EU sustainability initiatives and their potential implications for travel retail.
It also aims to give members a better understanding of the wider EU sustainability and corporate social responsibility (CSR) legislative landscape.
As reported during TR Sustainability Week, ETRC Secretary General Julie Lassaigne said the document will help members “in their understanding and implementation of regulatory changes.”
The paper includes analysis on circular economy initiatives, waste and packaging, corporate reporting, and sustainable finance. It also covers carbon reduction, transport, energy and other regulations.
Direct and indirect impacts of legislative changes are explored for retailers, suppliers, ports, airports and beyond.
EU sustainability regulation: ‘Distinct challenges’ for travel retail
ETRC said suppliers would be most affected by new product legislation. Retailers face “distinct challenges” due to their position in the value chain, the trade association continued. These include issues around due diligence and environmental, social and governance (ESG) reporting obligations.
Travel retail as a sector stands at the “centre of major developments” when it comes to sustainability, with implications that could require action, ETRC added.
“ETRC is fully committed to assist our members in their efforts to advance towards a more sustainable travel retail sector,” said Lassaigne.
“This initiative is designed to assist our members in assessing potential consequences, initiating internal discussions at various organisational levels, and effectively addressing the risks associated with these critical issues.
“In addition, our objective is that this report will serve as the baseline for future ETRC work on sustainability, including dedicated webinars and guidance to further support our members across three pillars: informing, educating, inspiring.”
In April, ETRC released data from its Business Performance Index which showed Europe-wide passenger spend had surpassed 2019 levels by 4%.