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News from Members KMG International and Ursus Breweries win the Deloitte Green Frog Award in Romania

KMG International and Ursus Breweries win the Deloitte Green Frog Award in Romania

by Deloitte February 10, 2016

Website www.deloitte.ro

The two companies qualify for the regional competition

Deloitte Romania announces the winners of the first local edition of the Green Frog Award competition, which honours the best sustainability reports: KMG International and Ursus Breweries. Romania is the only country to have two winning reports in the local competition for "Best non-financial report" category. The two companies are automatically nominated for the Central European (CE) competition, together with organisations from six other countries in the region.

“Mandatory starting 2017, non-financial reporting can deliver numerous benefits to companies: it can build stronger investor confidence, a better understanding of the business model, strategy and risks, as well as help identify new business opportunities. I would like to congratulate both KMG International and Ursus Breweries, who understood this and chose to enrol in our competition, thus showing that they have managed to develop valuable reports that are appreciated by specialists in the field", said Andrei Ionescu, Partner Enterprise Risk Services (ERS) Deloitte Romania and Moldova.

Deloitte Green Frog Award competition for sustainability and CSR reports in CE aims to identify and reward excellence in corporate non-financial reporting in the region, honouring the content, significance, structure and creativity in communication, as well as sustainability performance and strategic commitments of the reports. In the national competition, the seven participating countries have selected 17 sustainability reports that have qualified into the regional competition. Eight companies have won the "Best report" category and nine other companies received special awards.

Other countries that have companies qualified into the regional competition are Croatia, The Czech Republic, Hungary, Poland, Serbia and Slovenia. The best non-financial report in Central Europe will be selected after the analysis of a mixed jury made up of professionals from various practice areas, representing well known NGOs or organizations developing activities in the area of sustainability.

Currently, companies provide non-financial information voluntarily. Non-financial data reporting will become mandatory starting 2017, and an increased effort in supporting social causes is expected form companies from then on, to the benefit of both society and companies. According to Deloitte’s recent CSR Managers Survey, the main benefits of CSR initiatives for companies include increased involvement of employees, improved reputation and a better relationship with local communities.

Green Frog Award 2015 has a national and a Central European category. The reports which passed the national level were automatically nominated to the regional level whose results are expected in early March. For this edition, organizations submitted social reports, CSR reports, sustainability reports, integrated reports that cover previous one-two financial year(s). The reports were prepared according to the following guidelines: GRI G3.1, GRI G4, IIRC, EU Directive 2014/95/EU, UN Global Compact, ISO 26000 etc. and were submitted by private companies, public organizations, as well as foundations or universities. Green Frog Award 2015 marks the 15th anniversary of the competition at regional level and the first time it has been organized in Romania.

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. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see the Deloitte website 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, 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 225,000 professionals are committed to making an impact that matters.

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