The question is not only how to make them sustainable, but also regenerative. So, if we now as an industry are already worried about new legislation I can tell you, this is only the start. Compare it with financial reporting. We all hire accountants to do very strict financial reporting according to rules and guidelines. Finance is only a support department, which is not generating revenue. The same goes for sustainability.
What can we expect from the CIE and CONEBI sustainability expert group in 2024?
We are still in the process of making the materiality analysis which will be discussed at the first kick-off meeting next year. We are also considering a priority group for the LCA standardisation. LCA is a different ballgame than measuring carbon footprint. For example, the system boundaries are very, very difficult to define. You really have to look at what is happening in your upstream supply chain. The LCA standardization is important for making fair comparisons between companies. That's why we currently recommend companies to be careful in terms of publishing product carbon footprints.
The circular economy and supply chain priority group will focus eco design and circularity. They will also help companies, if they haven't done yet, to align themselves with industry standards in terms of eco design and sustainable products and product development. Besides these projects, we are very closely looking at the EU Commission to see what priorities they are going to set.
Following the study by the Bicycle Association (BA) in collaboration with CIE on diversity in the industry we are considering creating a new working group to tackle our industry’s lack of proper diversity management. This is a situation we don’t want as an industry, so it is important for our industry to catch up.
Will you be at the Eurobike Sustainability Day again?
We expect this event to take place again in 2024 and we will be present. We are also in contact with the Taipei Cycle Show for a presentation during the event.