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News from Members Deloitte Romania Launches the Green Frog Award Competition

Deloitte Romania Launches the Green Frog Award Competition

by Deloitte October 19, 2015

Website www.deloitte.ro

The Best Sustainability Reports Will Be Recognized

Deloitte launches the Green Frog Award competition that recognizes the best sustainability reports in Central and South-Eastern Europe. This year marks the 15th anniversary of the competition at regional level and is the first time it has been organized in Romania.

“Starting from 2017, the EU will require the largest companies to disclose non-financial and diversity information. In order to be ready for the new legislation, companies should already start preparing for then. Participation in the Green Frog Award competition is a good opportunity to do that. It is also a chance for organizations to showcase their sustainability practices and the way they consciously and actively manage their economic, social and environmental impact,” said Andrei Ionescu, Enterprise Risk Services (ERS) Partner at Deloitte Romania and Moldova. “Furthermore, it is a way of attracting investors, that is why we encourage as many Romanian companies as possible to join our initiative.”

Sustainability reporting is in its early stages in Romania and currently there is no clear data regarding the number of companies which implement this type of reporting, be it reporting based on international standards or their own. Non-financial reporting is a promotional and external communication tool, particularly used voluntarily by large foreign investors on the local market. Non-financial reporting in Romania shows the transparency of companies and helps the distribution of CSR resources thus creating a premises for attracting investors, who make their investment decisions on information regarding sustainability and the long term impact of local businesses.

“Non-financial reporting can deliver numerous benefits to companies - it can build a stronger investor confidence, a better understanding of the business model, strategy and risks as well as identification of new business opportunities. Therefore, with the Green Frog Award we want to identify, reward and promote companies that have already embraced this type of reporting and encourage other companies to follow their path,” says Irena Pichola, Partner, Leader of Sustainability Consulting Central Europe.

In 2015, Green Frog Award will have a national and a Central European category. The reports which pass the national level will be automatically nominated to the regional level. Organizations can submit social reports, CSR reports, sustainability reports, integrated reports that cover previous 1-2 financial year(s). The reports should be prepared according to the following guidelines: GRI G3.1, GRI G4, IIRC, EU Directive 2014/95/EU, UN Global Compact, ISO 26000 etc. They can be submitted by private companies, public organizations, as well as foundations or universities.

The application deadline is 30 October 2015. Details on the participation in the Green Frog Award: www.deloitte.com/DCE_greenfrog. Apart from Romania, the Green Frog Award 2015 competition will be organized in Albania, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Serbia, Slovakia and Slovenia.

About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.

Deloitte provides audit, consulting, financial advisory, risk management, tax and related services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries and territories, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. Deloitte’s more than 200,000 professionals are committed to becoming the standard of excellence.

© 2015 Deloitte Romania

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