AmCham: ESG Not Only about Regulation, But Resilience and Innovation as Well

Bratislava, 27 September (TASR) - At a time when Slovakia is facing slower economic growth, high energy costs and geopolitical pressures, discussions on the sustainability of ESG (Environmental, Social and Corporate Governance) are essential, said Erika Vitalosova, ESG leader at the American Chamber of Commerce in Slovakia (AmCham Slovakia) during a conference organised by AmCham earlier this week. Vitalosova said that the European Commission has simplified the conditions for companies this year, meaning that the ESG reporting obligation will apply only to a fraction of them. According to her, ESG is not only about regulation, but also about resilience, innovation and long-term value creation. Companies that decide to take action voluntarily and transparently will be better poised to succeed from the perspective of investors, customers and employees, she stressed. Maria Makrovska, director of the Accounting Legislation and Methodology Department at the Slovak Finance Ministry, recommended that companies should set out a vision and goals relevant to their business for 2026 and then align their ESG focus accordingly. In regard to the so-called Omnibus Package introduced by the European Commission in 2025 to simplify the requirements of the Corporate Sustainability Reporting Directive, she said that "for small companies, I'd recommend monitoring Omnibus and, subsequently, the legislative process. Reporting is the tip of the iceberg. The key point is that companies should approach sustainability as a competitive advantage," added Makrovska. Thomas Madreiter, head of the City of Vienna's planning department, pointed out that the changes needed as a result of the global climate crisis will transform corporate strategies. "Active and intensive participation by all stakeholders is key to managing the global climate crisis. Vienna can serve as an example, as it's focused for many years on development that puts people first, while at the same time promoting environmental protection and sustainability," he emphasised. The ESG conference also addressed the current challenges facing Slovakia and the wider region. Through discussions and workshops, it offered solutions that will help companies to transform regulatory and geopolitical pressure into opportunities for innovation and long-term resilience. jrg/df/ko