Capacity Building Workshop on Sustainability Reporting Standards for SARAS

The purpose of the meeting was to raise awareness of environmental, social and governance (ESG) issues among SARAS staff.  The meeting discussed sustainability reporting standards covering ESG issues. The meeting was facilitated by experts in the field invited by IFC - Jerome Lavin and Ralitsa Germanova.

The meeting addressed factors related to environmental, social and governance issues that have an impact on improving the way entities operate. The main directions of the European Directive on corporate sustainability reporting and different editions of international sustainability reporting standards were reviewed. 

The meeting also analyzed the essence of sustainability reporting - strategy, risk and performance - from a business perspective. The experts reviewed the framework principles that have a significant impact on the adoption and subsequent implementation of ESG and CSR policies by entities.

Further activities aimed at raising awareness of entities on environmental, social and governance matters in terms of adoption and implementation of internal policies, and reduction of environmental impacts are planned within the framework of the cooperation between SARAS and IFC.

It should be noted that the continuation of the cooperation with IFC is important for SARAS, as within the framework of Georgia's European perspective, SARAS is actively working towards dynamic approximation to EU directives and regulations. In this regard, one of the directions is the development of the legal framework for sustainability reporting and the introduction of best practices in the country.

See other news related to this topic: The EU Approves New Requirements for Corporate Sustainability Reporting