Economist: ESG yes, but effectively. Ondřej Křivanec comments on current developments in sustainable legislation

In a commentary for the weekly Ekonom, Ondřej Křivanec, Executive Director of the Fidurock group, comments on the topic of ESG regulations and the upcoming standards for non-financial reporting in the European Union. Based on practical experience, he draws attention to the importance of a sustainable approach in the construction industry, but at the same time appeals for the need for greater adequacy and clarity of the new rules.

As a real estate and development group, Fidurock has long invested in projects that reduce the energy consumption of buildings and take into account the impact on the environment. However, according to Křivanec, current proposals for European legislation, such as the European Sustainability Reporting Standards (ESRS), often place disproportionate administrative demands on companies, the real benefit of which for sustainability is questionable.

“We support meaningful changes that lead to improved environmental impact, but at the same time we need clear and enforceable rules. The current form of ESG reporting is sometimes so complex that it threatens to distract companies from their real work,” Křivanec writes in his text.

The commentary also draws attention to the broader debate taking place in Europe about the form of the Green Deal, the level of regulation, and the stability of the business environment. According to Křivanec, the goal is not to question the very idea of sustainability, but to find a functional balance between environmental protection and the ability of companies to operate effectively.

Read the commentary in the Ekonom below.