Hrvatski Telekom and Valamar Riviera are leaders in sustainable business in Croatia, and a significant recognition of the continuous efforts and investments of both companies in environmental preservation, social impact, and excellence in corporate governance (ESG) comes from the esteemed Financial Times, which has placed only these two domestic companies on the prestigious list of European climate leaders for 2022.
Exceptional Implementation of ESG Strategies
Based on extensive research, Financial Times and Statista published a list of European climate leaders selected this year from a total of 4000 companies across 33 European countries, according to the effectiveness of their ESG strategies and activities in the areas of environmental protection, social engagement, and management practices.
This year, the criteria for companies have been further tightened, with two key criteria highlighted: the total reduction of core greenhouse gas emissions in operations from 2015 to 2020, and the reduction of the intensity of those emissions expressed through the ratio of emitted greenhouse gases to revenue.
Hrvatski Telekom reduced its total greenhouse gas emissions from 2015 to 2020 by 68.5 percent, which is the third-best achievement in the entire European telecommunications industry during the observed period. In the same period, it reduced CO2 emissions by nearly 33 tons.
Environmental Care
Valamar Riviera reduced the intensity of greenhouse gas emissions per overnight stay in the same period by as much as 70 percent and is one of six companies from the tourism sector on the list. According to the criterion of reducing total core greenhouse gas emissions, both domestic companies are in the upper part of the ranking. For example, only four companies on the entire list performed better than Valamar Riviera on this indicator.
– We are proud that our activities have been recognized and that we have been identified as a climate leader in a major international selection, which we perceive as a significant recognition for HT, but also for Croatia in general. As a socially conscious company, we have the responsibility and obligation to lead by example and make our tangible contribution to environmental preservation and the fight against climate change, and we systematically address this in all areas of our business.
Thus, we have been using renewable electricity for years, and due to the complete transition to renewable electricity, we did not emit more than 40,000 tons of CO2 into the atmosphere in 2021 alone. Our goal is to contribute to a more sustainable future in which the smart solutions and infrastructure we build enable others to manage resources more efficiently and to operate and live in a more sustainable way in smart cities, “said Marijana Bačić, Vice President for Corporate Sales and ICT Services of Hrvatski Telekom.
– Tourism in Croatia can only reach its full potential based on the principles of sustainable development. At Valamar, we have been paying great attention to environmental protection and natural resources for years, developing the quality of accommodation capacities, destinations, and tourist infrastructure, investing in high added value products and services, and providing employees with long-term attractive careers in tourism.
Valamar has translated its responsibility for sustainable development into numerous projects that have yielded excellent results not only in significantly reducing the carbon footprint but also in developing our destinations and adding value for other stakeholders. We are extremely honored that Financial Times has also recognized the quality of Valamar’s path towards more sustainable tourism,” said Ivana Budin Arhanić, a member of the Management Board of Valamar Riviera.
Largest Investors in Tourism
Valamar Riviera is a leader in innovative management of leisure tourism and a destination partner that continuously creates new value through responsible and sustainable tourism business practices.
As the largest investor in tourism in Croatia, Valamar has invested over 6 billion kuna to date in portfolio development and quality enhancement, with investments in sustainable development programs reaching nearly 500 million kuna since 2015, or over four percent of achieved revenue.
In 2021, a very ambitious solar power plant project was launched in the Croatian market, realized by Valamar and E.ON Solar, thanks to which Valamar produces up to six percent of all electricity through photovoltaic cells. Valamar uses 78 percent of food and beverages from domestic production, and this year it opens the doors to the first sustainable eco-resort in Croatia, Valamar Amicor Green Resort on Hvar.
