Returning from parental leave may mean lower pay than colleagues. When must the employer raise your salary?
Employment lawReturning from parental leave may mean lower pay than colleagues. When must the employer raise your salary?
The sustainability mindset is making inroads around the world and having an increasing influence on business and organisations.
Today both financial and non-financial data, including management culture and environmental and social issues, are examined carefully when assessing the long-term value of companies. Sustainability is thus critical to achieving long-term profitability for a business.
Sustainable business
We recognise the critical role of sustainability for long-term profitability. Our devoted team offers expert advice and assists clients in Estonia and at the international level.
Sustainable strategy
We focus on environmental (E), social (S) as well as governance aspects (G).
Integral solutions from us
We don’t sell ready-made service solutions. Instead, we work out solutions based on your organisation’s particularities and needs. The key words are “forthcoming” and “flexible”!
Sustainability
Sustainability means conducting activities and making decisions in a way that lets future generations meet their needs just as successfully as the current generation. Sustainability comprises three main elements.
- Environmental – preserving natural resources and ecosystems and countering climate change.
- Economic – long-term economic growth and social welfare that doesn’t harm the environment or society.
- Social – promoting communities, human rights and social well-being.
Sustainability is broadly directed at finding a long-term balance in all walks of life and generating benefits to society. Social development includes global targets such as the UN’s Sustainable Development Goals (SDG).
ESG
ESG is a framework for evaluating a company’s activities in the context of environmental, social and governance topics. ESG focuses on specific factors that directly impact the functioning of companies and investment decisions.
- Environmental – the company’s impact on the environment (e.g. carbon emissions, energy and water use, and waste reduction).
- Social – the company’s relations with employees, communities and stakeholders (e.g. work conditions, diversity, employees’ rights).
- Governance – management procedures and ethics (e.g. independence of the management board, anti-corruption measures, transparency, regulatory compliance).
Differences between sustainability and ESG
- Sustainability is a broader concept that includes all areas related to the balanced development of society and the environment. Its goal is to support long-term economic and social well-being, ensuring the sustainability of natural and human resources. From the standpoint of a business, sustainability means how the main activity of the business contributes to society and how problems are alleviated and solved.
- ESG is a specific framework and management model used by companies and investors to assess and measure the impact organisations have on the environment, society and governance. Above all, ESG is a set of business activity and investing values and boils down to specific parameters that may influence the company’s financial condition and reputation.
In short, sustainability is a broad goal, while ESG is a practical tool and framework that helps to measure and manage that goal at the level of business activity and investment.
Sustainable business ensured by strategizing
We offer specialised services and integral solutions in the field of sustainability. Small, medium-sized and large organisations all receive service in the same professional, forthcoming and flexible manner.
A sustainable mindset makes it easier to:
- attract talented employees
- draw customers
- win the trust of investors
- achieve owners’ satisfaction
- retain long-term and good relationships with suppliers
- comply with state and local rules and regulations
- maintain good relations with the media
Why choose Grant Thornton Baltic’s sustainability services?
We have years of experience helping businesses in developing strategies, reporting and auditing. As a full-service consultancy, we perform top-flight sustainability and impact analyses. We help identify and mitigate risks and recognise opportunities in companies’ business activity to ensure long-term and sustainable development. Naturally we also undergo and implement ESG processes ourselves and embody the same values.
Sense of security / consistent support
For us, project management from start to finish is very important to give you a sense of security. Our advice is based on close cooperation with your business, providing guidance in development strategy and reporting.
Need-based approach
We staff our advisory team based on your business model and your company's specific needs. Our project managers have relevant specialised knowledge for developing effective, beneficial and high-quality projects.
Long-term support and cooperation
We help you create a structure to keep sustainability in the focus. We provide support with activity plans for continuing work and implementation and offer support over a long period.
Financial perspective
We have comprehensive knowledge of the financial sector and understand how sustainability ties in with financial risks and opportunities.
The latest information about the sector
Our sustainability experts who perform review engagements and audits are members of the Auditors’ Association working group engaged in sustainable reporting and methodologies. That helps us to ensure that your reporting complies with all of the requirements.
Testimonial
Since 2009, the mission of Skeleton Technologies has been encouraging innovation and changes in the development of energy storage technologies. We’re grateful to Grant Thornton Baltic for the support we received for our goal of seeking support from the European Commission’s innovation fund to allow us to increase our graphene-based ultracapacitor production. Our collaboration with Grant Thornton Baltic specialists was smooth and efficient. It seemed almost like we had been working on the same team for a long time. In spite of the short deadline, Grant Thornton Baltic completed the work in time. We have a high regard for the contribution Grant Thornton Baltic made in helping us make the world a little more energy-efficient and sustainable place.
Patricia Godel
Head of Grant Financing and Risk at Skeleton Technologies GmbH
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