Deloitte invited companies from across the Baltic region to showcase their sustainability reports and be awarded in the categories “Rising Star” and “Best Sustainability report in the Baltics” for small, medium and large companies.
“ESG in Action” contest received 27 submissions for the 2024 edition from companies in Lithuania, Latvia and Estonia, with majority of companies participating in the contest for the 1st time. Each report was evaluated by independent jury members working within the sustainability field (full list of jury members available here. Contestants were evaluated according to Deloitte methodology, that evaluates not only report itself, but overall efforts and transparency of the company in the field of sustainability.
In the evaluation methodology four key areas of evaluation criteria center around communication, credibility, completeness and integration of financial and non-financial information. Considering the Corporate Sustainability Reporting Directive requirements the jury focused on evaluating overall information disclosures that would allow readers to discern whether and how companies manage their sustainability agenda. Additionally, jury looked at the overall content of the report, how structured and understandable the report is in listing strategic commitments, showing historic performance data, governance and getting the message across based on materiality assessments.
Following evaluations and discussions by the jury, each category with submissions has a designated winner. In the "Rising Star" category, the winner is "Getliņi EKO" for delivering an inspiring first-time report. The jury praised the report for its effective balance between relevant information and usability. In the category of "Best Sustainability Report in the Baltics – Medium Companies," the award goes to "Vilniaus pakuotė," while "Valstybinių miškų urėdija" wins the "Best Sustainability Report in the Baltics – Large Companies" category. Runner-up awards were given to "Latvenergo" and "Conexus Baltic Grid."
The winning reports showcase a high level of detail, a focus on material ESG topics, and measurable results, highlighting clear priorities with defined targets, activities, and progress over time. The jury noted that these reports provide a transparent view of the company's sustainability journey, allowing for an assessment of their progress, actions, and business practices in relation to their stated goals.
The "ESG in Action" contest, organized in Central Europe since 2007, is being held in the Baltic states for the second time.