“Romania needs specially trained auditors to implement the CSRD directive. We need to improve the legislation and the educational system if we want Romanian companies to remain attractive. The business environment needs the simplification of discussions regarding the implementation of CSRD. The authority that governs this reporting must be well defined. We submitted and are submitting this non-financial report to ANAF, which is a financial authority. The question is who read those reports and what were the conclusions,” Constantin Damov, Chairman and Co-Founder, Green Group said during Romanian Sustainability Forum.
“CSRD is a high European ambition. There is a lot of European political enthusiasm, but we are playing on a global market. It is difficult to remain in a global competition, with a local ambition.
To prepare for these non-financial reports, you need a specialized person to take data from all company departments.
Auditing is very important. We must approach the legislative aspect much more seriously because we need auditors. It is hard to believe that, today, an auditor with accounting background can do a complete audit regarding CO2 emissions. An ESG auditor has a much more complex job than financial auditors.
Our company wants to be an example of sustainability. We do not consume virgin raw materials. 100% of the material we use is the result of other activities. The environmental impact should be minimal, but even the recycling activity leaves some traces that will be highlighted, measured, and possibly penalized by these evaluations.
If in the 20th century we consumed 500 billion tons of raw materials, the consumption of the last 6 years meant the same amount of materials. Governments and financial institutions are also responsible. I hope that this legislation does not turn companies into scapegoats.
If the green businesses will not work and will go bankrupt, the Green Deal principle will go bankrupt.”
Romanian Sustainability Forum is organized by Financial Intelligence, with The Diplomat-Bucharest and Sustainability-Today among the media partners.
