CEMS Prague, partner of our NCCC Young Professionals Charter, has developed and started the first ever Czech ESG rating together with the Association of Social Responsibility. The Czech ESG rating focuses on companies with a registered office in the Czech Republic or on multinationals with a subsidiary in the country.
CEMS Prague is the global alliance in management education and part of the Faculty of Business Administration of the Prague University of Economics and Business (VŠE). Their main purpose with the ESG rating is to share Environmental, Social and Governance good practices among participants. The main advantage is that participating firms will receive a report on how they are doing relative to other firms in their sector and relative to their size. In addition to getting acknowledged for recognising the importance of ESG, the key learnings from the top scoring companies will be made available to other firms.
Companies can grasp this opportunity for promotion and positively effect the Czech society in ESG topics for free. The results of the first Czech ESG rating will be announced in the fall issue of Forbes magazine.
The Czech Association of Social Responsibility's vision is to make social responsibility and sustainability a core building block of business strategy in the Czech Republic. The multitude of activities focusing on positive impact and growing demand for ESG made them partner up with the academic institution VSE/CEMS to develop a comprehensive reporting methodology for the country in order to lead the positive change in the right direction.
Growing concern for the environment, well-being of communities and society, and the need to meet regulatory requirements lays a solid foundation for the introduction of the first comprehensive comparison of ESG activities, strategy and reporting in the CZ. The general public, employees and investors are also increasingly interested in the companies they buy products and services from, work for or invest in.
You can apply for participation in the Czech ESG rating here.