AmCham Slovakia

Every company will eventually face a request to provide ESG (Environmental, Social, and Governance) information. Today, an increasing number of entrepreneurs are prioritizing sustainability and social responsibility. Naďa Roštek from RUŽIČKA AND PARTNERS Law Firm offers practical tips on how to effectively complete ESG questionnaires and maintain a competitive edge.   

If you haven’t yet encountered a request from your business partners for information about the long-term sustainability of your business, you will soon. More and more entrepreneurs, and not just large corporations, are now emphasizing sustainability and social responsibility. If they themselves are investing resources and energy in ESG improvements and implementing large-scale strategies and projects, it is only logical that they will choose business partners who are also proactive in this area.

ESG is applied across the supply chain and a customer’s ESG score is influenced not only by their own activities but also by their suppliers. It is therefore not worth working with suppliers who are lax in this area and do not care about the environmental impacts of their business. The supplier’s performance is determined through an ESG questionnaire.

Completing an ESG questionnaire should not just be a routine formality. It is also a great opportunity to demonstrate that your company is ready for the challenges of the 21st century. This process can be a challenge for many companies, but it is also a way to gain the trust of partners and strengthen your reputation.

How to approach ESG questionnaires to meet the expectations of your business partners and qualify as a supplier worth working with?

1. ESG as a key priority, not a bureaucratic obstacle

Many entrepreneurs view ESG questionnaires as an administrative burden. In fact, they are a tool that will show your partners how your company approaches environmental issues, working conditions and employee care, fairness and business ethics, and risk management. Instead of seeing them as just an annoying obligation, see them as a marketing tool and an opportunity to present your company in the best light.

Practical tip:  Before you start the questionnaire, choose one or more concrete examples from your own experience that illustrate your responsible approach. For example, saving energy, supporting your local community, or implementing ethical business practices. Use these concrete examples to highlight your commitment to long-term sustainability. This will help you answer more confidently and better communicate your values and approach.

2. Answer honestly but strategically

ESG is a tool for building reputation and trust. If your company is just starting to implement ESG principles, you don’t need to have all the answers “perfect.” If you don’t have specific data, such as your carbon footprint, state that you are working to collect it and analyze opportunities for improvement. Partners often appreciate honesty and a clear commitment to action.

3. Think ahead: ESG as an investment in the future

Completing the ESG questionnaire is just the first step. Real success comes when ESG principles become a natural part of your business. The world is moving towards stricter regulations and higher sustainability requirements. Companies that start today will gain a head start and prepare for the challenges of the future.

Consider developing an ESG strategy that reflects your values and business goals, as well as your ESG commitments for the future, to avoid being caught off guard by any new demands from your partners.

With a comprehensive ESG agenda, you will not only be able to meet the requirements of your business partners, but you will also be prepared to respond effectively to new legislative challenges. Continuous recording of ESG activities and a high-quality sustainability report will make it easier for you to answer questionnaires, save time and resources, and help you gain a competitive advantage in the market.

In addition, a sustainability report will allow you to clearly and attractively present your ESG activities and results – from environmental measures to management improvements, in accordance with legislation. Once you have it ready, you also have most of the data available for further use, which simplifies administration, saves time and speeds up communication with partners.

RUŽIČKA AND PARTNERS Law Firm offers comprehensive professional support in the field of ESG through a multidisciplinary team led by Nada Roštek.

NAĎA ROŠTEK
Partner, RUŽIČKA AND PARTNERS

Naďa Roštek is the leading partner of RUŽIČKA AND PARTNERS' competition law, compliance and ESG practise. In addition to her work in Slovakia, she is also active in this area in the Czech Republic within the CCS Legal & Tax partner office. The latter is a member of the Association of Sustainable Business, where Naďa actively engages. Together with a multidisciplinary ESG team, she is involved in the development of corporate ESG strategies and ESG implementation projects in both jurisdictions. These activities serve as a key tool to increase value and build credibility for companies in the eyes of consumers and business partners. Thanks to her presence in both the Czech Republic and Slovakia, she is able to create unique solutions that take advantage of both markets. This enables more effective implementation of ESG strategies for clients in both countries.