To achieve its ambitious climate targets, the European Union has established a new framework for sustainability legislation, which will transform the entire structure of the economy both in the European Union and in Hungary, bringing fundamental changes to all economic players in Hungary. The new EU regulatory trends along with international ESG market processes tend to impose rapidly changing and increasingly stringent sustainability regulations and market expectations on Hungarian corporations. This will impact on nearly every aspect of business operations, including fundraising, production, taxation, procurement, supply chain management, human capital, and corporate financial reporting.
As a result, the sustainability indicators of corporations will increasingly become financially material, which will require auditing by trusted partners. We have launched and are constantly expanding the range of our sustainability services because we want to be the trusted partner for our clients in Hungary in this new compliance environment as well. Our services are aimed at ensuring that our clients comply with the ever stricter international and Hungarian sustainability regulations as well as expectations from the market, and thereby maintain their competitiveness. We want to contribute to our clients’ competitive advantage over the long term by assisting them in setting up sustainable operations and adopting best market practices.
Deforestation hinders global CO2 reduction efforts and has a significant negative impact on the homeland of indigenous people. As a result, the EU implemented numerous measures, such as the EU Deforestation Regulation to reduce and stop this negative impact.
The climate crisis is the major challenge of our time. Globally and in Central and Eastern Europe, there is a huge momentum of net zero pledges.
Decarbonisation rates must far outstrip anything seen before to limit warming to 1.5°C, finds PwC’s Net Zero Economy Index.
The European Union Green Deal, adopted in December 2019, is the EU’s ambitious and comprehensive blueprint to become the first climate neutral continent.
PwC is making a worldwide science-based commitment to achieve net zero greenhouse gas (GHG) emissions by 2030. The commitment includes supporting our clients to reduce their emissions as well as reducing those from the PwC network’s operations and suppliers.
