Deloitte Romania Launches the Green Frog Award Competition
Bucharest, 16 October 2015 – Deloitte launches the Green Frog Award competition that recognizes the best sustainability reports in Central and South-Eastern Europe. This year marks the 15th anniversary of the competition at regional level and is the first time it has been organized in Romania.
“Starting from 2017, the EU will require the largest companies to disclose non-financial and diversity information. In order to be ready for the new legislation, companies should already start preparing for then. Participation in the Green Frog Award competition is a good opportunity to do that. It is also a chance for organizations to showcase their sustainability practices and the way they consciously and actively manage their economic, social and environmental impact,” said Andrei Ionescu, Enterprise Risk Services (ERS) Partner at Deloitte Romania and Moldova.
“Furthermore, it is a way of attracting investors, that is why we encourage as many Romanian companies as possible to join our initiative.”
Sustainability reporting is in its early stages in Romania and currently there is no clear data regarding the number of companies which implement this type of reporting, be it reporting based on international standards or their own. Non-financial reporting is a promotional and external communication tool, particularly used voluntarily by large foreign investors on the local market. Non-financial reporting in Romania shows the transparency of companies and helps the distribution of CSR resources thus creating a premises for attracting investors, who make their investment decisions on information regarding sustainability and the long term impact of local businesses.
“Non-financial reporting can deliver numerous benefits to companies - it can build a stronger investor confidence, a better understanding of the business model, strategy and risks as well as identification of new business opportunities. Therefore, with the Green Frog Award we want to identify, reward and promote companies that have already embraced this type of reporting and encourage other companies to follow their path,” says Irena Pichola, Partner, Leader of Sustainability Consulting Central Europe.
In 2015, Green Frog Award will have a national and a Central European category. The reports which pass the national level will be automatically nominated to the regional level. Organizations can submit social reports, CSR reports, sustainability reports, integrated reports that cover previous 1-2 financial year(s). The reports should be prepared according to the following guidelines: GRI G3.1, GRI G4, IIRC, EU Directive 2014/95/EU, UN Global Compact, ISO 26000 etc. They can be submitted by private companies, public organizations, as well as foundations or universities.
The application deadline is 30 October 2015. Details on the participation in the Green Frog Award: www.deloitte.com/DCE_greenfrog. Apart from Romania, the Green Frog Award 2015 competition will be organized in Albania, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Serbia, Slovakia and Slovenia.