ESG Ranking 2024: Which companies are leading in sustainability?
11/11/2024
Three-quarters of Czechs believe that companies should care about sustainability just as much as they care about profit-making. People themselves are incorporating sustainability into their lives—just in the past year, nearly 6 out of 10 Czechs have changed their purchasing behavior in some way with regard to sustainability and corporate responsibility. Which companies are meeting these expectations—not only from customers but also employees and the wider community—by integrating sustainability into their operations and inspiring others at the same time? The latest ESG Ranking revealed the answer. This is the third year it has been published by the Association of Social Responsibility in collaboration with Forbes magazine.
Ten top large companies and five top small and medium-sized enterprises—this is the shape of this year’s ESG Ranking, showcasing the extent to which Czech companies monitor and communicate their impact on the environment, society, and corporate governance.
“Seventy-nine companies applied, with roughly half being large enterprises and half SMEs. This year, we significantly simplified the questionnaire and based it on the ESRS standards, which companies must learn to work with in line with European legislation,” explained Lucie Mádlová, founder and director of the Association of Social Responsibility. From a methodological standpoint, the main goal was to ensure maximum completion of the questionnaires. “We succeeded—reaching an 84% completion rate,” she added.
The ranking includes companies that truly have the potential to inspire others in how they approach and implement a real, ongoing sustainability strategy. One surprise for the organizers was the strong participation of social enterprises, which are keeping pace with the market and view sustainability as a major competitive advantage. Two social enterprises also ranked in the TOP 5 SMEs.
Analysis of the completed questionnaires also revealed that SMEs are highly advanced in focusing on specific subtopics of the ESRS standards and are capable of effectively assessing materiality. At the same time, companies that have been engaged in sustainability over the long term have clearly mapped their impacts and know how to work with the topic. However, a major issue remains in translating global strategies into local approaches.
The spectrum of participating companies was diverse in terms of industry sectors, with the banking sector being the most represented—traditionally. This sector is also closely connected with the general partner of the ranking, Visa. “Visa is committed to acting as a responsible, ethical, inclusive, and sustainable company. We strive to use our products, services, network, expertise, brand, and partnerships to minimize the environmental footprint of our operations, inspire and empower sustainable commerce, and support the global transition to a low-carbon economy. That’s why we continue to develop products and services aimed at supporting digital equity and the economic empowerment of small and medium-sized businesses,” said Hana Wasserburger, Director of Advisory Services at Visa for the Czech Republic, Hungary, and Slovakia.
The organizers, in collaboration with CIRA Advisory, approached the methodology with the aim of spotlighting those who excel in sustainability and can positively motivate other companies to communicate their sustainability strategies. Based on ESRS standards, they outlined a set of questions that helped create a cross-sectional overview of each company’s activities. This was followed by verification and validation of the submitted information by an expert jury. For many companies, the ESG Ranking thus serves as an educational tool to help them understand what ESG really means in practice.
The general partner of the ESG Ranking is Visa.
The official diploma ceremony for the ranked companies took place at the Prague Congress Centre.
Data source: Ipsos research for the Association of Social Responsibility, September 2024.
