A new era of sustainability reporting: EIMV is one step closer to a sustainable future

At a time when the global community is increasingly feeling the effects of environmental degradation, social inequalities and economic instability, the role of business in sustainable development is gaining importance. Corporate responsibility for its impact on society and the environment is no longer a matter of choice; it has become a necessity. In this context, sustainability reporting is not just a contemporary trend, but is based on a long-term transformation of business practices and an understanding of the wider social impact of companies. Today, corporate success is measured through the prism of financial performance, transparency, accountability and positive change for society and the environment.

The current European Corporate Sustainability Reporting Directive brings in-depth periodic sustainability reports, which will need to be revised. Environmental (E), social (S) and governance (G) activities of business entities are an important starting point. A large part of these activities is covered by quality systems compliant with international standards (ISO 9001, ISO 14001, etc.) and other commitments of business entities stemming from the legal environment. However, some of the reporting baselines will need to be redeveloped.

The EIMV conducts research on energy technologies and their role in sustainable development. With the knowledge we have developed, we help to overcome the various professional dilemmas that arise in projects, through all stages – from project preparation, implementation to completion. We are also involved in a regional knowledge-sharing platform on sustainable finance and environmental impact assessment. We work to support different sectors in their planning, development and operations in the electrical, industrial and public sectors. We are committed to strengthening cooperation between as many stakeholders as possible and transferring the environmental knowledge developed between them.

With the aim of strengthening the networking with higher education institutions, this year the representatives from the Environment Department participated in a pilot training on sustainability reporting under the CSRD, co-funded by the Ministry of Higher Education, Science and Innovation and the European Union under the NextGenerationEU financial instrument.

Sustainable development is a key factor for the future of business and society as a whole. By committing to sustainable practices, the EIMV is helping to create positive change that brings economic benefits to society and, in turn, financial benefits to the companies in our environment.