Annual Report 2020: Once again transparent and integrated

Releasing the Annual Report 2020 of Ericsson Nikola Tesla Group, and the recent research on the topic of large Croatian companies reporting about the negative impacts on climate, are the motive to look back at the long-term tradition of integrated reporting of this Croatian company. Long before it was legally required; to be more precise, at the end of the last century, we have been regularly reporting about the financial, as well as non-financial business results, which included and still include, business, environmental, and social responsibility. Such approach is related to a strategic direction of Ericsson Nikola Tesla Group on the application of the highest standards and practices in doing business and being committed to doing business responsibly.

Why integrated?

The answer presents itself: we want to be an example of a responsible and transparent entrepreneur in a society in which we operate, so that we would also encourage other entrepreneurs in the business environment to follow the positive examples in their business, and thus always bear in mind the full perspective of the overall business value chain. Our long-term experience shows that a responsible approach to business brings new business opportunities, increased efficiency, reduces risks, increases brand value and strengthens market position, strengthens the Group’s position and reputation as the employer of choice, as well as long-term competitiveness.

We strive to raise the bar higher with each new edition of Annual Report, whether it concerns introducing new content, standards, design update, analytics, outlooks, etc.  Along with the praise from various stakeholders, some valuable recognitions were also received, such as the two Red Dot awards for design, etc.

Even in the years that were full of challenges and limitations, such as 2020 that was marked by the pandemic and earthquakes, we have positively surprised the wider community with the scope and the quality of the realized activities and results, described in the annual report, and have announced an interesting technological future in which the Group plays an active role. Despite the mentioned limitations, we have decided to keep the practice of publishing a printed edition of the Annual Report, and thus the report, along with the one in an on-line version on our webpage, was also printed in Croatian and English.

What’s next?

An even more demanding task is ahead of us. European Green Deal is a European strategy of growth, with the aim to improve the wellbeing and health of citizens, make Europe climate-neutral until 2050, as well as to protect, preserve, and improve the natural capital and biodiversity of the Union. As the EU pages highlight, to participate in this, the companies need a detailed frame for sustainability in line with which they will apply their business models. In this, they will rely on the EU taxonomy; a tool for transparency intended for the companies and investors when investing in projects and economic activities with a significant positive impact on climate and the environment. The obligation to report on sustainability is introduced for all large companies and companies listed on the stock exchange, and the participants on financial markets on how sustainability challenges, such as climate change, impact their business, and on the impact of their business activities on the citizens and the environment.

Situation in Croatia

Let’s go back to the results of the mentioned research regarding the topic of large Croatian companies reporting about the negative impacts on climate. They are not encouraging and show how the awareness of the importance of recognizing, eliminating and then reporting on the risks of negative impacts on climate, is still insufficient.

We hope that the new EU rules will initiate positive changes, despite likely difficult first steps in the application itself, and that an increasing number of Croatian companies will join, as shown by the research that encompassed 68 large companies, to Ericsson Nikola Tesla Group as “the only large company in Croatia that comprehensively considers the risks of negative impacts on climate that derive from its activities and is an absolute leader in reporting about the risks of negative impacts on climate.”

The Association for Sustainable Development in Croatia, which is responsible for this research, expects all other entities to be comprehensively informed, educated, and raise awareness regarding the risks of negative impacts on the climate that derive from their activities. And thereupon, as soon as possible, take concrete steps towards a common European goal of preserving a climate that is favorable for life on Earth and for future generations.

Communications Ericsson Nikola Tesla