Despite the simplification of sustainability reporting requirements, companies continue to face significant economic, financial and environmental compliance demands, making sustainability an ongoing business priority, Mihaela Frăsineanu, State Counsellor at the Prime Minister’s Chancellery, said at the Sustainability in Business Forum, organised by Sustainability Today and The Diplomat-Bucharest.
“Beyond the simplification of sustainability reporting requirements and the reduction in the number of companies covered, based on employee numbers and turnover, I believe these efforts continue and remain consistent,” Frăsineanu said.
She stressed that companies must continue to meet a broad range of requirements, maintain partnerships and adapt to regulatory and market expectations, even when formal reporting obligations no longer apply to all businesses.
“We are talking about the same companies, the same partnerships and the same requirements, even if these are no longer related to sustainability reporting, but rather to compliance with the entire range of economic, financial and environmental issues, not only within the European Union,” she added.
Frăsineanu noted that businesses are operating in an increasingly challenging environment, shaped by overlapping economic, geopolitical and financial crises that are putting additional pressure on markets in Romania and worldwide.
“Against this backdrop, it is all the more important to come together at an event where we not only discuss sustainability and companies’ efforts but also highlight those leading the way in this field,” she said.
She emphasised the importance of recognising organisations making progress across environmental protection, financial sustainability and social responsibility, while also acknowledging the efforts of businesses that work consistently to implement projects and integrate sustainability into their operations.
“We must recognise those at the forefront of sustainability, whether in environmental protection, finance or social responsibility, without overlooking all the others who work day by day to implement projects across one or all of these areas,” Frăsineanu said.
The State Counsellor also highlighted the challenge of maintaining business continuity amid geopolitical uncertainty, socioeconomic pressures and intensifying competition, including competition from products originating in other parts of the world.
For companies, she argued, sustainability goes beyond regulatory compliance and reporting. It is also about remaining viable, competitive and capable of creating value for the environments and communities in which they operate.
“I believe this is where true sustainability lies: in continuing to exist in an increasingly competitive market, one that is increasingly challenged by products coming from other parts of the world, while also generating added value in the environment in which companies operate,” she said.
Frăsineanu underlined that people remain central to this process, as their commitment and ability to respond to challenges ultimately determine whether organisations can make a meaningful difference.
“Added value comes first and foremost from people, from the way each of them strives — and each of us strives — to face these challenges and find opportunities, through collective effort, to make a real difference in our communities,” she concluded.
The Sustainability in Business Forum brings together business leaders, policymakers and sustainability professionals to discuss corporate responsibility, environmental performance, social impact and the evolving role of sustainability in business strategy.
