The Azores Sustainability & CSR Services Agency launched the fifth edition of the Romania CSR Index ranking, the most important assessment of the field of sustainability and corporate responsibility in Romania. The ranking results were announced during the fifth anniversary edition of the virtual event, Best Practices in Romanian CSR, broadcast live on the Facebook page of the agency on November 19, 2020, under the slogan Sustainability is Unstoppable.
What is Romania CSR Index?
Romania CSR Index is a complex analysis, unique in Romania, which evaluates the involvement of companies with over 500 employees from the perspective of the level of transparency and performance in the field of corporate sustainability.
To achieve this index, more than 700 companies were analyzed, more precisely companies in Romania that have over 500 employees. According to Order 3456/2018, published in the Official Gazette of Romania on November 7, 2018, all companies with more than 500 employees will have the obligation to publish sustainability reports or non-financial statements, starting with the 2019 financial year.
What methodology does Romania have behind the CSR Index?
Romania CSR Index is an analysis with 10 categories and 64 indicators that addresses information regarding the sustainability strategy and the impact of companies from an economic, environmental and social point of view. The total score is weighted according to the industry to which the companies belong.
All public information of the companies, reported for 2019, in Romanian, was evaluated and the ranking was based on an evaluation tool that is aligned with the most important international standards or references in the field of sustainability and social responsibility:
- UN Sustainable Development Goals (SDGs)
- Directive 2014/95/EU
- GRI Sustainability Reporting Standards (GRI Standards)
- CDP (Carbon Disclosure Project)
- London Benchmarking Group (LBG) International – Measuring Community Investment
What are the objectives of the analysis?
The ranking results can be used for various purposes: developing a roadmap to increase performance on corporate sustainability, raising awareness of the Sustainable Development Goals and ensuring the alignment of corporate strategy with the SDGs.
“Adopting the principles of corporate sustainability is often difficult and involves important changes in a company’s activities and strategy. Through the evaluations we make for Romania CSR Index we try to highlight the best practices and successful examples of some Romanian companies that have advanced a lot as they have integrated sustainability in the business strategy and have reached a very high level of transparency of information on social, economic and environmental impact, positive but also negative. ”, explains Alina Liciu, Founder and Managing Partner of The Azores.
In the 2019 analysis report, there was an increase in the number of industries interested in sustainability, in the sense that several companies in Food Retail and IT have started to invest in this field, in addition to companies in the field of Beverages and Telecom, which were already present in the index with very good scores. The 2020 report highlights a number of changes that came as a surprise to analysts, such as a higher number of sustainability indicators in the sustainability reports and increased attention to the engagement of key stakeholders for reporting companies.
Recognized companies in Romania CSR Index 2020:
- Gold Level Recognition: Coca-Cola HBC România, Kaufland România, HeidelbergCement România, Raiffeisen Bank, Grupul CEZ în România, Romgaz, Telekom România, Lidl România
- Silver Level Recognition: Ursus Breweries, GreenPoint Management
- Bronze Level Recognition: Translectrica, Grupul Digi | RCS-RDS
What are the most important changes in the evaluation of Romania CSR Index 2020?
The year 2020 brought some important changes regarding the Romania CSR Index indicators. Between August and September, there was an extensive process of engagement of important stakeholders for the ranking: companies, consultants, CSR and corporate sustainability experts and representatives from the university environment, both from Romania and internationally. Of particular importance was the involvement of two international organizations, Sustainalytics -a Morningstar Company, a leading independent ESG and corporate governance research, ratings and analytics firm, and Carbon Disclosure Project, a unique global system dedicated to companies that measure, manage and distribute information related to the environment.
What type of content could be watched at the virtual event Best Practices in Romanian CSR?
The virtual event was based on a hybrid format, bringing to the audience a mix of presentations, a speech by a globally renowned Star Speaker (Elaine Cohen – Beyond Business), and a message sent for the first time for Best Practices in Romanian CSR by an international sustainability expert, Nick de Mey – Board of Innovation. The speakers from Romania, representatives of some companies with very good results in the field of corporate sustainability, were Alice Nichita, Coca-Cola HBC Romania, Adrian Moraru – Transelectrica, Loredana Samoilă – Kaufland Romania and Ioana Abramiuc – Romgaz. The Moderator of the event was Victor Georgescu, owner of LifeHax Solutions. This year’s slogan of the event, “Sustainability is Unstoppable. So are you! ” emphasizes that, today, sustainability and responsibility have become the norm, they are unstoppable and only individuals and businesses that master these concepts and integrate them into their DNA will be on an upward slope.
Discussions focused on four key sessions, which presented sustainability strategies, projects or investment programs in communities, but also best practices arising from sustainability reporting. Top professionals from Romania but also from the international level have shown how the market trends in our country are outlined and have provided valuable insights on how a company can achieve the best results from investing in sustainability and communities.
The Best Practices in Romanian CSR event was supported by: Coca-Cola HBC România, Transelectrica, Romgaz, GreenPoint Management, Marcom Hub, LifeHax Solutions.
More details are available on the agency’s website: www.theazores.ro