As part of the finals of this year’s SME EnterPRIZE edition, a leading initiative of the Generali Group, awards were presented in Brussels at the end of November for 10 “Sustainability Heroes” selected from over 7,000 small and medium enterprises across Europe. Alongside Humana Nova from Croatia, which stood out in the European competition by winning special recognition for sustainable business, the remaining nine Heroes come from Austria, the Czech Republic, France, Germany, Hungary, Italy, Portugal, Slovenia, and Spain. Generali, together with an expert advisory board composed of members from academia, business, and think tanks, evaluated candidates based on their social and ecological commitment, including the implementation of significant sustainability initiatives in their business activities.
The importance of the SME EnterPRIZE initiative is best evidenced by the presence of high European policymakers at the finals of the third edition of SME EnterPRIZE, including Valdis Dombrovskis, Executive Vice-President of the European Commission for an Economy that Works for People and European Commissioner for Trade; Paolo Gentiloni, European Commissioner for Economy; Martina Dlabajová, Member of the European Parliament and Co-Chair of the Parliamentary Intergroup for Small and Medium Enterprises; and Pina Picierno, Vice-President of the European Parliament. Academic leaders as well as senior management from Generali also participated. On this occasion, Marcos Neto, Assistant Secretary-General and Director of the UNDP Office for Policy and Programme Support, addressed the attendees via video message.
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Meet the Croatian Sustainability Hero
Humana Nova is a social cooperative from Čakovec that offers employment opportunities to people with disabilities, involving them in clothing processing through repair and alteration, as well as recovering yarn from clothing that is no longer usable to create new clothing without resorting to “virgin” yarn.
– The award we received in Brussels means a tremendous confirmation of our existence and work, but also a confirmation of the correctness of our path. It motivates us to continue working in line with our plans. Social, ecological, and economic goals are equally represented in our business, and we have managed to round off all three goals in an innovative and sustainable way. Participation in the SME EnterPRIZE initiative primarily gave us confirmation of the cooperative’s value. It has also helped us in further positioning, opening new doors for potential collaborations in the domestic and EU markets. Results are already coming in as we have quickly found new potential partners in several segments of work, both existing and developmental, said Ivan Božić, manager of the Social Cooperative Humana Nova Čakovec.
He emphasized that the entire event is extremely motivating for all employees and members of Humana Nova, which further contributes to the unity and approach to the work of each individual.
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The winners of SME EnterPRIZE are a true inspiration for fellow entrepreneurs and real ambassadors of sustainability, emphasized Mario Carini, CEO of Generali Insurance.
– In Croatia, SME EnterPRIZE was organized in collaboration with initiative partners Privredna banka Zagreb and the Association Glas poduzetnika, generating significant interest among small and medium enterprises. We are pleased to state that a truly large number of companies recognize the importance of sustainable business, as evidenced by this year’s edition of the White Paper, which confirms that the sustainable transition of the SME sector in Europe remains strong, despite the challenges they face, he added.
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As he emphasizes, the SME EnterPRIZE initiative is part of Generali’s efforts to become a lifelong partner to small and medium enterprises across Europe, and is also an integral part of Generali Group’s strategic plan titled “Lifetime Partner 24: Driving Growth,” which promotes a more inclusive and greener economy in line with the European Green Deal and the Next Generation EU initiative.
– Through its role as an insurer, investor, and employer, we will continue to take responsibility, firmly establishing our role as a Lifetime partner for all our stakeholders, said Mario Carini.
Comprehensive Research on the Sustainability of the SME Sector
On this occasion, Generali presented in detail the results of the third edition of the White Paper on Sustainable Small and Medium Enterprises, developed in collaboration with the SDA Bocconi Business School. The research, which involved over 1,000 small and medium enterprises across Europe, confirms strong growth among SMEs engaged in sustainable transformation and highlights the benefits of adopting sustainable business practices.
Overall, the sustainable transition of small and medium enterprises in Europe has remained strong, despite numerous challenges that companies need to overcome.
In Croatia, in 2023, 31% of small and medium enterprises have already implemented or were in the process of implementing a sustainability strategy or action plan. According to the research, small and medium enterprises in Croatia have achieved significant advantages by applying structured sustainability strategies. For example, 86% of Croatian companies that adopted a more structured approach to sustainability report positive results regarding environmental impact, 84% improved employee satisfaction, 76% increased customer satisfaction and gained competitive advantages (impact on revenue), and 68% increased their efficiency (impact on costs).
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The White Paper also called on financial institutions to engage and empower small and medium enterprises by explaining and raising awareness about financial instruments and opportunities to stimulate their transition. Financial institutions can further support European small and medium enterprises by designing sustainable financial initiatives and reaching more small and medium enterprises through partnerships and collaboration.
SMEs that have embarked on the path of sustainable transformation have not only realized numerous benefits but have also improved their business at various levels – from organizational to market spheres. For all small and medium enterprises that are still weighing whether to invest in a sustainable approach to business or not, Stefano Pogutz, Professor of Corporate Sustainability Practice and Director of the Regular MBA Program at SDA Bocconi, emphasizes that sustainability is not just a cost, but an investment with a positive return. To see what sustainability looks like in practice, check out examples of good practice – this year’s finalists and winners of the SME EnterPRIZE initiative. The comprehensive report of the White Paper, which includes detailed information about each country participating in Generali’s SME EnterPRIZE initiative, can be downloaded here.
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