Deloitte is once again looking for the best sustainability report
A large percentage of large Hungarian enterprises regularly prepare sustainability reports, but an increasing number of small and medium-sized enterprises also see the importance of having such a report in place. Launched by Deloitte Hungary, the Green Frog Award not only recognises the companies with the best sustainability reports, but also provides companies with an excellent opportunity to assess the progress they have made in meeting the EU’s reporting requirement. In addition, the Green Frog Award lets companies showcase themselves on the international stage as well.
For those Hungarian enterprises which are not focused purely on profits but also consider the importance of social responsibility when making business decisions, sustainability initiatives and environmental protection are becoming a fundamental part of day-to-day operations. This is confirmed by the fact that the quality of the reports submitted as entries for the Green Frog Award launched by Deloitte Hungary is improving steadily each year.
The 17th edition
Deloitte Hungary issues the Green Frog Award (which was first launched in 2000) as an acknowledgement of the companies’ environmental and social responsibility, as well as their reports which reflect their achievements in this area. Applications for the 17th edition of the competition can be submitted between 18 August and 18 September, and applicants will have the opportunity to compete not only within Hungary, but also at regional level.
Reports rewarded at the national level will automatically participate at the regional level competition as well. Organisations can submit CSR reports, sustainability reports or integrated reports that cover the previous one or two financial year(s).
Deloitte’s professionals are here to help
Experience suggests that, in many cases, a lack of knowledge and a fear from the volume of administrative tasks involved in the preparation of reports are the factors that keep companies from preparing sustainability reports. However, when drafting a report that effectively supports the entity’s operation and strategy, companies are not forced to rely only on their own knowledge as Deloitte Hungary’s advisors are there to assist them in these matters. Deloitte’s staff are able to support companies seeking their help not only in preparing reports, but also in transitioning to an environmentally conscious and sustainable business operation.
Any report may be nominated for the Green Frog Award; however, in accordance with the evaluation criteria, preference may be given to reports which comply with at least one of the following: the GRI G4 guidelines, the GRI Standards guidelines, the IIRC’s guidelines, the UN’s Global Compact guidelines, the ISO 26000 guidance, and EU Directive 2014/95/EU on the disclosure of non-financial and diversity information by certain large undertakings and groups. They can be submitted by private companies, public organisations, as well as foundations or universities. At the national level, companies can submit the reports in the local language or English.
For more information about the Green Frog Award, including the details of the competition and application requirements, please visit Deloitte’s website. The results of the competition are expected to be published in November after an independent jury has evaluated the submitted sustainability reports.
“Starting this year, the EU requires the largest companies to disclose non-financial and diversity reports as well. Applying for the Green Frog Award can help companies assess what progress they have made so far in meeting this requirement. In addition to strengthening investor trust by making the business model, the strategy and potential risks more transparent, a good sustainability report can also enable companies to identify new business opportunities” – said Ákos Lukács, leader of Deloitte’s Sustainability and Climate Change service line.
Deloitte provides audit, tax and other advisory, as well as legal services to public and private clients spanning a number of industries. (Legal services are provided through our correspondent Deloitte Legal Erdős and Partners Law Firm.) With a globally connected network of member firms in over 150 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte’s approximately 225,000 professionals are committed to becoming the standard of excellence.
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