Innovation is the Future Conference (ESG)
Tuesday, Jun 21, 2022 From 09:00 to 14:00
EINPARK, Einsteinova 33, Bratislava
Making our environment, society and businesses more sustainable through ESG
Considering the current top challenges for businesses around the world, the climate change risk together with the supply chain and cybersecurity risk share the unfortunate top tier. Following the business logic, it should therefore be among each company’s top priorities to enrich its strategies and the overall governance with measures that contribute to minimizing this risk.
For this reason, AmCham Slovakia has decided to organize its first ever "green" conference devoted to one specific strategy that touches upon two out of the three top challenges businesses nowadays face: environmental social governance (ESG).
The term was coined in 2005 in the conference report “Who Cares, Wins”and yet, even after 17 years since its creation many firms neither understand its benefits nor its necessity. Thus,the main goal of this is to inform and educate the business community about both the necessity as well as the benefits of incorporating the ESG strategy into their business plan.
The conference will first elaborate on the fundamentals of the concept of ESG and will follow by explaining the importance of innovation in reaching the global ESG goals as quickly as possible. Due to the gravity of the Ukrainian crisis and the severe impact it already has on businesses and the national, EU and global ESG goals the last part of the conference will be dedicated to this topic. You can find more information about the panels in the document attached above.
Regarding the time and place of the event, the venue of the conference has been carefully selected to correspond with the principles of sustainability. Hence, the event will take place at the greenest building in Slovakia that, moreover, ranks among the 1% of sustainable buildings in the world: EINPARK. The conference will take place on the 21st of June and will start at 9AM.
Panel 1: The what, the why and the how of ESG
Following the urgency of wide implementation of ESG strategy within companies, this panel will have an informative and educative character and will first elaborate on what does the E, the S, and the G in the ESG term mean. Next, it will clarify how each of them create value for businesses and hence why it is crucial to incorporate them into every business strategy that strives for growth. The why question will also touch upon the influence of ESG strategy on financial performance of companies as it is often seen as damaging, rather than beneficial and will be followed by a discussion about the importance of ESG for investors. The panel will be concluded by explaining the taxonomy of green investing and what does such investing mean for businesses.
- WHAT does the E, the S, and the G mean and HOW do they create business value?
- WHY is it important to incorporate ESG into every business strategy?
- Influence of ESG on (not only) financial performance of firms (ESGrisks and opportunities, rate of return on investments: long vs. short term); impact on the investors’ decision-making process
- What is taxonomy of green investing and what does such investing mean for businesses?
- ESG reporting: qualitative and quantitative indicators that serve as a decision-making tool for company investment
Fireside chat: The Key to Effective Reporting: Big Data Processing
The adoption of digital technologies and their ability to impact ESG priorities are becoming increasingly intertwined. Improving data collecting, reporting, and analysis are among the most immediate benefits that can feed into every part of the organization going through a digital transformation. While digitalization serves as a catalyst in the sustainability transition, digitalization can also stimulate digital innovation and create new chances for the digital industry to innovate and become more competitive. Thus, this chat will dig into the topic of the transition to a circular or carbon-free economy and the need of the development of new digitally enabled sustainable business models and opportunities to foster this transition.
- How to measure and report on ESG strategy to be able to evaluate whether it is effective: big data, quantifying the ESG performance (performance, effectiveness, commitment)
Panel 2: New approaches for the greener future: innovative technologies and strategies
In 2022, it's not just about getting rid of things anymore: getting rid of plastic, getting rid of carbon, but also about how businesses can elevate the consumer experience to be perceived by the customers as more innovative and valuable. In 2022, the signals are very clear: organizations must continue to shift direction and resources to innovative business models, products, and markets to ensure sustainable growth, meet changing needs and expectations of sustainably minded customers, address urgent sustainability issues, and achieve the UN Sustainable Development Goals (SDGs). For this reason, this panel will be dedicated to a discussion on how innovation catalyzes sustainability and how, in turn, the urge to operate more sustainably serves as a stimulant for innovation. We will dedicate special attention to the leaders in innovative ESG transformation in Slovakia and intend to gain some of their know-how. The discussion will also dig into new investment opportunities arising from this transition and the role of the government in encouraging further engagement of companies as well as local communities in it.
- What role does innovation play in a path towards effective implementation of an ESG strategy?
- Who are the leaders in innovative/digital transformation on the market and what can we learn from them?
- Are there any new investment opportunities innovation/digitalization brings that help to bring us closer to the green economy?
- How can the government encourage broader and deeper engagement in innovative transformation within companies/local communities?
Panel 3: Impact of the Ukrainian crisis on businesses and ESG goals
On the February 24th, the Russian invasion of Ukraine has split the business world into two camps: the ones who ceased their activities within the Russian territory and the ones that stayed. After almost half a year since the invasion we can evaluate at least some of the consequences these decisions have had on the firms from both categories. Thus, one of the issues this panel will seek to touch upon is the impact these decisions had on things like the overall functioning of the companies, the investments, the consumer behavior or B2B (e.g., with banks) relations and position it within the broader framework of international law and risk management.
Moreover, for Slovakia, Russia is the key natural gas and oil supplier. This means two things: first, Slovakia is dependent on Russia and second, we are indirectly financing the Ukrainian crisis by buying these commodities from Russia. Hence, this panel will open a discussion about the impact of the crisis (not only) on energy companies within Slovakia and the national/EU progress on diversification of energy sources with the aim to minimize the dependence on Russia through the RePower EU initiative. Furthermore, the aim is to clarify the impact of this crisis on the progress towards the ESG goals within the private as well as the public sector on the EU and the national level.
- What consequences have the decision to leave Russia had on businesses that ceased their activity within the country? What about those who stayed? Consequences for the businesses & the state.
- How do we see such decision from the risk management and international law point of view? What should businesses avoid in the future if a similar situation occurs.
- What are the long-term consequences of the Ukraine crisis for businesses?
- How has the situation in Ukraine affected the national/European ESG goals and the progress towards them? How companies’ ESG priorities and agendas will evolve in the future? States vs. EU vs. companies; the Repower EU initiative
- If we meet in 5 years, what will we discuss? What the mains topics will be? Key drivers of ESG?
Documents to download
Format: .pdf, size: 0.45MB