"A series of indicators regarding the environment (Environment), social responsibility (Social), and governance (Governance) are used to evaluate the business practices and performance of an organization concerning various aspects of sustainability and ethics. Also, these ESG criteria offer a way to measure business risks and opportunities, and on the capital market they are used to evaluate companies and their investment plans", says the Romanian ESG Employers' Council.

At the European Union level, it is expected that, from the beginning of 2024 to 2028, more and more companies will be subject to ESG reporting obligations, according to the Corporate Sustainability Reporting Directive (CSRD). ).

The Council of ESG Employers in Romania considers of vital importance the collaboration between ESG specialists within a Working Group for the development of the first Guide for ESG implementation in Romania, already sending invitations to the Presidency of Romania, the Government, the National Bank, banking institutions, the representatives in Bucharest of some international financial bodies (World Bank, EBRD, International Financial Corporation) and other organizations.

Participation in the Working Group will be voluntary and free of charge. Teamwork will involve brainstorming sessions, analysis, and content development.

"The good functioning of a company can no longer be conceived, these days, without the fulfillment of ESG criteria, and from 2024, non-financial reporting will also become mandatory in the European Union, first for large companies, then also for smaller firms (2026) and even those registered outside the EU (2028). Therefore, we believe that the time has come to create a first Guide for the implementation of ESG, adapted to the realities of the Romanian economy, for which we invite the best specialists in the field to join us. We are convinced that, through a collective effort, we will succeed in taking an important step, which will contribute to the development of the business environment in Romania and society as a whole", said Andrei Botiș, Vice-President of CPESGR and coordinator of the Working Group dedicated to the elaboration Guidelines for ESG implementation.

After the establishment of the Working Group, which will include experts from all sectors of the Romanian economy, the Council of ESG Employers in Romania will announce the schedule of meetings and establish a calendar of stages for the realization of the Guide for the implementation of ESG.