Today, the first comprehensive conference on ESG titled „With ESG Criteria to a Sustainable Economy – Future Perfect Business” was held at the premises of HUP. The conference aimed to open a broader discussion on raising awareness about the sustainability of the economy and society and the implementation of new EU regulations focused on environmental protection, organized by partners of the newly established initiative Future Perfect Business – the International Institute for Climate Action (IICA), Media Val, and the Croatian Employers’ Association (HUP), in partnership with the European Commission.
The Minister of Sustainable Development and Energy, Tomislav Ćorić, in his opening speech at the conference, stated that we are in a time that brings incredible challenges, primarily in the effort to stay on the path of strong green and digital transformation of the economy. This transformational process, he said, represents a great opportunity for the Croatian economy, primarily a step in the direction that suits us as a small open economy – the digitalization of the economy and its greening.
The business sector is expected to face significant changes in the area of reporting and achieving rights to sources of financing in the coming period. The challenges posed to entrepreneurs by the EU need to be recognized as an opportunity to build a better, more agile, and resilient society – one that can easily and quickly cope with all changes and future adjustments. Mihael Furjan, president of HUP, reflected on the obligations that await employers in the new financial period and the reasons why HUP decided to join as a partner in the Future Perfect Business initiative.
– HUP wants to help its members, primarily through training on ESG criteria, to adapt more easily to new conditions, not because it is an obligation, but because it is a way for Croatian companies to differentiate themselves from other countries and be an example to others in sustainable development – said Furjan.
Marija Pujo Tadić, president of the International Institute for Climate Action (IICA), explained the reasons for establishing the Future Perfect Business initiative in her presentation.
– The initiative was established with the primary goal of educating, informing, raising awareness, and networking the business community, as well as all interested individuals, in order to meet the established environmental criteria and jointly find a path to a long-term sustainable society. The initiative invites all to the table: the business community, government representatives, regional and local self-governments, all political options, non-profit (NGO) organizations, and the wider public – said Pujo Tadić.
– The training, which starts on April 11, is intended for all companies preparing for the new financial and reporting period, conducted by the International Institute for Climate Action in collaboration with the International Association for Sustainable Economy (IASE). The training aims to provide professional support to business entities in preparing non-financial reports and implementing the Low Carbon Strategy, Adaptation Strategy, and the European Green Deal into their companies’ business plans. More than 100 professors from around the world participated in preparing the syllabus for the training, including 4 Nobel laureates – she added.
Gabriele Giudice, Deputy Director at the Directorate-General for Economic and Financial Affairs of the European Commission, emphasized at the conference that the European Commission is pleased to partner in events like this that aim to promote dialogue on green sustainable development policies. The priority of the European Green Deal for achieving a low-carbon economy, along with recovery from the pandemic and, more recently, the need for Europe to become independent from Russian fossil fuels well before 2030, represents a significant challenge regarding funding sources for these goals. Therefore, it is crucial to seize the opportunity offered by the National Recovery and Resilience Plan and ensure the successful implementation of reforms and investments that will make the Croatian economy more competitive, green, and resilient, as well as contribute to achieving the common goal of the European Union – to become the first climate-neutral continent by 2050, said Mr. Giudice.
Carmen-Daniela Micu, president of IASE (International Association for Sustainable Economy), and Ante Žigman, president of the Management Board of HANFA, provided an introduction to two panel discussions featuring representatives from successful companies and experts in finance from renowned domestic and global institutions.
– Climate change and corporate business ethics are at the forefront in the new financial period. As a regulator, it is important to us that shareholders are protected and that companies nurture a quality culture and relationship with workers. ESG and non-financial reporting began in the 1990s when the three Ps – planet, profit, and people – started to be mentioned. The EU then launched a sustainable development program in 2015, through the Paris Agreement. The training that HANFA conducts within Croatia is aimed at compliance with new EU regulations, such as the Taxonomy Regulation. An increasingly larger part of non-financial reporting consists of sustainability reports that are mandatory for all companies with more than 500 employees – although the number of those reports that are externally audited is still small, which will change in the future – stated Ante Žigman, president of the Management Board of HANFA.
