European companies do not take advantage of the business opportunities inherent in sustainable operations

By: Trademagazin Date: 2024. 05. 10. 11:23

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The majority of companies are not yet aware of how sustainable operations contribute to business success, according to EY’s recent research with the participation of 200 company managers from 15 European countries. In Hungary, since January of this year, a law has required many domestic organizations to become greener.

Most companies do not yet see how environmental, social and governance (ESG) efforts, such as achieving net zero emissions, contribute to their success. Accordingly, only a quarter of survey respondents (24%) have a clear strategy for achieving climate protection goals.

It is encouraging that in response to the European Union directives on corporate sustainability due diligence (CSDDD) and sustainability reporting (CSRD), almost all respondents are making organizational changes, but most of them do not yet represent a radical transformation. Progress is hindered by the fact that only 40% of those surveyed are aware of how to access the funding sources available under the EU Green Deal.