Deloitte Romania launches the 2018 edition of the Green Frog Award

Deloitte Romania opens for application this year’s edition of Green Frog Award competition, which rewards the best sustainability reports from companies all over Central and South-Eastern Europe. Romanian companies can submit their application by filling in the form available on the dedicated website section, by November 15, 2018, consisting of social reports, CSR reports, sustainability reports and integrated reports covering the previous 1-2 financial years. The winner automatically qualifies for the regional CE competition, which will recognize The Best Non-Financial Report, The Best Integrated Report and the honourable mentions.

“Taking part in the Green Frog Award competition is a way for Romanian companies to present their sustainability practices and thus build in a direction which is increasingly important for businesses’ employees, clients, partners and suppliers: the impact on environment as part of the wider social impact. Green Frog Award offers a better understanding of business models, strategic engagements and risks”, said Andrei Ionescu, Risk Advisory Partner, Deloitte Romania.

From 2018 onwards, the European Union, under the 2014/95/EU Directive, requires large public-interest companies with more than 500 employees to include non-financial statements in their annual reports. Over the past years, Green Frog Award served as a good practice for companies to prepare and adapt to the new EU legal legislation.

Each year, the competition draws in over 60 reports at national level from various industries such as banking, financial services, consumer goods, pharmaceuticals, IT and the oil and gas sector. Last year’s edition in Romania had, so far, the largest number of companies to take part in the Green Frog Award and was won by Raiffeisen Bank, which further qualified for the regional stage of the competition.

The assessment procedure took into account indicators such as sustainability performance and strategic engagement, materiality, content, structure and creativity in communication, impact measurement, financial and non-financial integration of data.

The Green Frog Award was launched in Hungary in 2000 and it has gradually expanded its scope to other Central and South-Eastern European countries ever since. Beginning from 2015 GFA is divided into two levels: national and regional. The reports that win or are honourably mentioned at the national level, automatically qualify for the regional level.

The following types of reports can enter the contest: social reports, CSR reports, sustainability reports, and integrated reports covering previous 1-2 financial years. They can be submitted by large companies, holdings, capital groups, SMEs as well as foundations and universities. All report must be focused on the local market and the jury will not evaluate global reports translated in the local language. Reports should follow GRI G4, IIRC, UN Global Compact, ISO 26000, EU Directive 2014/95/EU on disclosure of non-financial and diversity information by certain large undertakings and groups.

More details of the Green Frog Award are available here.

Deloitte provides worldwide audit, consulting, legal, financial advisory, risk advisory, tax and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500 companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights, and high-quality service to address clients' most complex business challenges. Deloitte's goal is to make an impact that matters through its approximately 286,000 professionals.

Deloitte Romania is one of the leading professional services organizations in the country providing, in cooperation with Reff & Associates, services in audit, tax, legal, consulting, financial advisory, risk advisory, business processes and technology services and other related services with more than 1,200 professionals.