For companies in Slovakia, ESG reports are becoming increasingly important – from 2025 the European Union is introducing them for larger companies. However, ESG reporting does not have to be just an obligation: for companies that start voluntarily, it brings better relationships with banks and investors, a stronger reputation and a competitive advantage.
Lately there has been a lot of talk about the ESG acronym, which refers to the environmental, social and governance aspects of doing business. Put simply, ESG shows how a company cares for the environment, how it treats its employees and the community, and how fairly it runs its business.
For companies in Slovakia, ESG reports are becoming increasingly important. This is not just a passing trend, but a new standard that the European Union is introducing for larger companies from 2025. These rules are expected to gradually affect smaller businesses as well. So why not prepare for it today?
ESG reporting, however, does not have to be just an obligation. Companies that voluntarily start disclosing information about their ESG activities gain a number of benefits. One of them is better relationships with banks and investors, who increasingly favour transparent and responsible companies.
Customers also appreciate companies that openly communicate their responsible business activities and their approach to the environment. ESG reporting can thus be a way for your company to improve its reputation and gain a competitive advantage.
Getting started with ESG reports does not have to be complicated. First, you need to identify which indicators are relevant to your company. Then you need to ensure the systematic collection of data – for example on energy consumption, waste, employee satisfaction or the way the company is managed. You then process this data into a clear and transparent ESG report, which can be part of your corporate reporting.
If you want to start with ESG reporting, you do not have to do it alone. Experts like us at ESG Live will help you with it – from calculating your carbon footprint through data collection and analysis to preparing a professional ESG report in line with international standards.
In this way we will help you not only to meet legislative requirements, but above all to seize the opportunity for long-term growth and the development of your business.
What actually belongs in an ESG report and how it should look
1. Environmental (Environment)
This part assesses how the company affects the environment and what it does to protect it. Key indicators include:
- The company's carbon footprint (CO₂ emissions)
- Energy consumption and the share of renewable sources
- Waste management and recycling
- Efficiency of water use
- Strategies to reduce the negative impact on nature (e.g. eco-friendly packaging, reducing emissions in production)
Example: If a company has installed solar panels or introduced water-saving measures, these are precisely the activities reported here.
2. Social (Social responsibility)
In this part of the report, the company presents how it cares for people – employees, customers and the wider community. Important topics include:
- Employee working conditions and safety
- Equal opportunities, diversity and inclusion in the workplace
- Cooperation with communities and charitable activities
- Ethical supply chains and the protection of human rights
- Customer satisfaction and the protection of personal data
Example: A company that supports local communities, organises volunteering activities or has a clear gender equality policy will disclose this information here.
3. Governance (Corporate governance)
This section focuses on how the company is managed and what ethical standards it has. It includes:
- The composition and diversity of the board and management
- Anti-corruption policies and the company's code of ethics
- Rules for transparent and responsible management
- Risk management and compliance processes
- Policies on the protection of personal data and cybersecurity
Example: If a company has independent supervisory bodies, regular audits and anti-corruption measures in place, these activities belong in this part.
Why an ESG report matters
- It helps companies build credibility with investors and business partners.
- It improves access to more favourable financial resources (banks and investors increasingly take ESG criteria into account).
- It increases the brand's appeal to customers and employees who prefer socially responsible companies.
- It helps prevent reputational and legislative risks.
Not sure where to start? We will be happy to help you prepare your ESG report. Just contact us!
