How not to kill your business with ESG? Ladislav Tyll spoke at the European Regulation and ESG conference

Academic Director Ladislav Tyll was a speaker at the conference European Regulation and ESG: Implications for the Czech Energy Sector, held as part of the “Institut pro veřejnou diskusi” (IVD) successful series of debates.

The topic of his presentation was “How not to kill your business with ESG”.

He talked about how internal and external stakeholders often have different perspectives on how a company operates in terms of its impact on the environment.

Questions to be answered:

• Who are the stakeholders?
• What are their expectations?
• How can we manage those expectations?

He pointed out the need to balance the needs of all stakeholders, rather than prioritising selected groups.

He also emphasised the need of a multidisciplinary approach and the ability to see the “big picture” are required for overall ESG management.

• Who is responsible for managing expectations?
• Who is in charge of the ESG strategy?
• What profile should the ESG manager have?

In the panel discussion that followed, he clarified that ESG is no different from other intangible assets that have long been known to drive shareholder value, such as corporate culture, management quality and innovation capabilities.

He also emphasised that ESG is not about a standardised reporting system; a proper ESG strategy is about constant rebalancing.

Other speakers of the conference:

Alice Machová, Climate Change and Sustainability Services Leader, EY Czech Republic

Michaela Chaloupková, Member of the Board of Directors, ČEZ Group

Petr Holub, Chief Director of the Section of the Climate Change Protection, Ministry of the Environment