War’s Impact on ESG Approaches in Business
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In September, Poland hosted the 32nd International Economic Forum, attracting over 5,000 participants. Subsequently, Poland imposed a permanent ban on imports of agricultural products from Ukraine. The public justification was to support Polish farmers. However, the underlying reason is that Ukrainian producers are more competitive and their products boast superior quality. This is despite Ukraine being a focal point of discussion at the aforementioned economic forum in Karpacz. Experts deliberated on issues such as rebuilding the country post-victory, prospects for EU membership, immigration, and combating corruption. It would have been beneficial if Polish farmers had voiced their needs (which later emerged as their problems) more assertively. The question arises whether it is ethical for the Polish government to prohibit imports from war-ravaged Ukraine, which stands as a security bastion of civilized Europe, while concurrently discussing social responsibility and ESG (Environmental, Social, Governance) approaches in business.
Despite the financial strain on businesses due to the war (supporting the army, security challenges, caring for internally displaced persons, food supply), Ukraine is not falling behind in implementing ESG approaches. What was once a trendy image issue has now become a necessity, as businesses cannot survive without it. The demand for the implementation of these standards emanates from business owners and managers, as well as society and consumers. The problems addressed by the 17 UN goals have never been more pressing. After hearing the reports of my colleagues – representatives of large businesses from the European Union – I concluded that Ukraine will be setting ESG trends post-victory.
Read more about the column by Pavlo Moroz, Director of Corporate Social Responsibility at MHP, on Ukrainska Pravda following the link below.