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In modern business, sustainable management is becoming an increasingly important aspect that not only contributes to environmental preservation but also enhances a company's reputation and profitability. This article explores the key aspects of sustainable management that business leaders can implement to improve their operations while benefiting society and the planet. Additionally, we will examine which practices can provide long-term advantages for companies.

Today, in a fast-paced and competitive business environment, every decision an entrepreneur makes has long-term impact. One of the most crucial functions that can significantly impact a company's success, which is often overlooked, is procurement. By analysing procurement processes, businesses can not only save costs but also enhance efficiency, reduce risk, and even contribute to sustainable development. Here’s why every company should seriously consider procurement analysis as a key element of their operations.

ESG (an acronym for Environmental, Social, and Governance) is a set of factors related to environmental, social, and governance issues that companies consider when managing their business, and investors take into account when making investment decisions. These factors help assess risks, impacts, and opportunities associated with sustainability. This definition is provided by the International Finance Corporation (IFC).

The Corporate Sustainability Reporting Directive (CSRD) came into effect in January 2023. This directive modernizes and strengthens the rules regarding the social and environmental information that companies are required to report. A broader range of large companies, as well as small and medium-sized enterprises (SMEs) listed on the stock exchange, will now be obligated to report on sustainability. Companies outside the European Union (EU) will also be required to report if they generate more than €150 million in revenue within the EU market.