Estonia: ESG – A Journey from Nice-to-Have to Must-Have
2022 - 08 - 08
ESG has moved from conference halls to a daily function for many companies.
In Estonia, stakeholder expectations for corporate ESG are still evolving, yet rising.
The UN Sustainable Development Goals (SDGs) are reflected in the Estonia 2035 development plan, designed to power the sustainable development agenda in Estonia. Along with stakeholder expectations, regulatory scrutiny is also increasing, showing a dramatic increase in ESG reporting requirements that companies need to comply with, while not neglecting due diligence responsibilities towards supply chain(s).
Currently, financial market participants, large companies, and public interest entities are in the limelight in Estonia – but the scope is widening as new regulations are taking effect. Compliance monitoring capabilities by the national competent authorities are also improving.