Sustainable reporting on the impact of companies on the environment, society, and governance (ESG) is becoming increasingly important. Together with experts from the Faculty of Economics at the University of Ljubljana, we therefore organized a consultation for our members, where we used specific examples to highlight ways and methods for effective sustainable reporting.
To kick things off, Dr. Adrijana Rejc Bukovac from the Faculty of Economics at the University of Ljubljana gave a detailed presentation on the double materiality matrix. This helps companies figure out how they impact the environment, society, and management, as well as what trends and events affect their business. She emphasized that companies must obtain accurate data from their employees, customers, suppliers, local communities, and similar sources in order to develop the right strategic directions.
The matrix developed by the Faculty of Economics is already being used by some Slovenian companies. Barbara Bertoncelj from Domel emphasized that, in the process of collecting and analyzing data using this method, they learned that ESG reporting is not only an obligation for companies but also a good way to find out how different stakeholders view Domel’s operations. The company’s management was therefore actively involved in the process, as the final findings provide a good basis for future strategic business directions.
Those present also emphasized the importance of measuring the implementation of the ESG strategy. This should be reviewed at least four times a year at the company level, as this communicates to employees how important sustainable development is to the company. The process should also identify the financial effects of ESG measures and the segments in which the company should invest more. In many cases, the opinion of auditors and, consequently, the approval of loans also depend on the quality of ESG reporting.
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Additional information: SRIP ACS+, Erik Blatnik, +386 1 236 17 35, erik.blatnik@acs-giz.si
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The automotive industry in Slovenia generates approximately 10% of gross domestic product and nearly 25% of Slovenian exports (source: SPIRIT Slovenia). All members of SRIP ACS+, including all areas of mobility, contribute more than 17% to Slovenia’s GDP. Our members generate more than €8 billion in annual revenue, with most of them operating as Tier 1 and Tier 2 suppliers to global vehicle manufacturers. Each year, SRIP ACS+ members receive more than 25% of all innovation awards from the Slovenian Chamber of Commerce and Industry in the automotive industry.