Video Transcript is available to read below
I’m an enthusiast for sustainability and regulatory reforms. That is why I’m excited to discuss the EU Green Deal with you. My name is Ariane and I’m part of the Veeva Industries strategy team.
The EU Commission named the Green Deal Europe’s Man on the Moon moment as it is setting the course for a climate-neutral economy by 2050. This sweeping initiative is more than just a commitment to environmental responsibility; it’s a call for a complete transformation of how businesses operate within the European Economic Space. The Green Deal affects every sector. These regulations impact not only the life cycle of our everyday objects and products, but far beyond. If you have heard one of these acronyms, you are most likely affected by the EU Green Deal.
So where does it start, where does it end? What should be the highest priorities for consumer product leaders and teams to empower the consumer and society overall and avoid being trapped in a misleading green claim?
Some may say that is like being in a regulatory maze. I agree, it is getting complex as different directives impact your operating model in many dimensions. And on top of that, the y are all kind of interlinked.
Imagine the challenge for a company like Mattel, which faces new requirements under the European Toys Safety Directive. By 2027, they must provide a digital product passport (DPP) for all products sold in the EU. Imagine the challenge for every single CPG company to assess the total amount of polymer materials they place on the EU market to determine their plastic tax, a significant financial consideration. To navigate this complex landscape, companies must not only understand the composition of their products and packaging but also integrate this knowledge into their operating systems.
As a business leader, here are some questions you need to ask yourself to be prepared.
- How well do you know your product and its packaging?
- Do you understand its recycled content, carbon footprint, or whether it’s designed for recycling?
- Are you prepared to meet the demands of the EU taxonomy or the requirements of a digital product passport?
The answers to these questions are no longer optional— and yesterday’s disconnected and siloed data and process management systems aren’t going to rise to tomorrow’s demands.
Increasingly, market-leading consumer product companies are building a single source of product information by investing in unified, cloud-based digital solutions. Solutions like Veeva’s help companies like Estée Lauder and Unilever navigate the regulatory maze efficiently, and keep their growth and innovation engine running.
If you’d like to go deeper into this topic, I encourage you to hear what your peers have been saying at Veeva Summits by watching sessions on-demand. Or contact me to set up an exploratory conversation with one of our industry experts.
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