Sustainability is not yet a central issue for family companies

By: Trademagazin Date: 2023. 09. 15. 10:48

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Companies with a minimum of 250 employees have two years to incorporate ESG aspects into their business processes. According to the sustainability index of K&H family companies, this is currently a big challenge for companies, as only 10 percent of them have a strategy for this. There is a similarly low proportion of companies that pay attention to sustainability in all areas of their activities.

For this reason, the financial institution recognized the domestic companies that have already started on this path and that sustainability appears more and more consciously in their business processes with the K&H family companies excellence award for the 8th time this year. In addition, long-term strategy, generational change and innovation were also awarded for setting an example.

2025 is approaching, when most companies will have to report on their ESG, i.e. environmental, social and management practices, in a sustainability report.

“In the coming years, the number of companies for which the EU imposes a reporting obligation to demonstrate their sustainability practices will increase significantly: from 2026, i.e. for the financial year 2025, companies with more than 250 employees will also be affected. Therefore, the preparation of a sustainability report will be relevant for a significant part of family companies in 2 years, for which it is time to start preparing”

– pointed out Ákos Ékes, head of the K&H family companies center.