Empowering businesses through sustainable practices
2024 03 14
WALLESS partner Alina Makovska and associate partner Enrika Tamašauskaitė, uncovered the complexities of sustainability! At the “Sustainability: the changes that await” conference, they highlighted the legal mandates and strategic advantages of integrated sustainability in business.
Here are the key takeaways:
- Step by step, around 75% of EU companies will be legally obliged to prepare sustainability reports, reflecting a broader trend towards transparency and accountability.
- Suppliers, partners, and clients, particularly those obligated to prepare their own sustainability reports, will require detailed sustainability data, especially about their supply chain. This makes it crucial for all companies, regardless of size, to be prepared to share their sustainability performance.
- Embracing sustainability helps attract and retain talent, fostering a motivated and engaged workforce.
- Companies that prioritize sustainability can benefit from lower borrowing costs, as sustainable practices are increasingly recognized in financial risk assessments.
- Sustainability efforts can positively impact a company’s value and attractiveness to investors.
- Beyond compliance, preparing these reports allows companies to assess and benchmark their sustainability performance and identify areas for improvement.