Business Leaders See Sustainability As a Value

A significant proportion of company managers see sustainable operations as a value, not just a cost, K&H told MTI on Tuesday.

According to their survey, environmental impact remains an important aspect in companies' assessments, despite the fact that it has been somewhat overshadowed by economic difficulties. The largest companies are particularly active, with 54% of those with a turnover of over HUF 4 billion having already prepared a sustainability strategy. For them, this is important because they are required to produce an annual sustainability report similar to their financial statements," they wrote.

According to the statement, the example of large companies will be followed by smaller ones in time, as the European Commission's proposal will account for the entire carbon emissions of the value chain, meaning that large companies will require their suppliers to adapt. Feedback suggests that while many are fearful that sustainability investments could be at the expense of their profits, social responsibility, for example, is growing in strength regardless of the size of the company, they added.

The feedback also shows that the main recent improvements have been in everyday environmental awareness, with 93% now collecting waste separately, 88% reducing their paper consumption and 86% reducing their energy use. In one year, the proportion of companies that have switched to more energy-efficient machines has increased from 76% to 81%, and the proportion that have insulated their buildings and used renewable energy sources has risen from 41 % to 50%.

K&H's sustainability survey, conducted between April 17 and May 9, covered 360 medium and large companies. “The companies surveyed had an annual turnover of more than HUF 300 million and included all sectors and regions according to their weight in the national economy," the statement said.