VA PURPOSE

We are here to help companies in achieving their sustainability and social responsibility ambitions

USG 2020 - we continue to follow expectations of Latvia's society towards businesses
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Posted by
Elina Egle

About Us

The role of businesses is changing. Expectations towards companies increase. Society at large, but investors and international partners, in particular, put a significant focus on environmental, social and governance principles, also known as the ESG. Assessment of these risks as part of your business plans is essential when making investment decisions and ensuring presence in the supply chain. Therefore companies are encouraged to pay more attention to the ESG standards as they are directly linked to company performance and results.

We combine professionals with different backgrounds to help companies create and communicate their sustainability and social responsibility ambitions.

VA PURPOSE:

Elina Egle
Partner
Elizabete van der Steina
Consultant
Ralfs Vīlands
Partner
Vladlens Kovaļevs
Partner
SERVICES

Materiality Analysis

Understanding the economic, environmental and social impact of your business, is the first step towards a comprehensive sustainability program in any company. Materiality analysis helps to prioritise sustainability efforts of your business and invest your resources in areas that actually make a difference to the company and its stakeholders. Engaging suppliers, employees, business partners, customers, investors, policy makers, NGOs and other stakeholders is essential in the materiality analysis process.

Sustainability Strategy Development

Once a company knows its key economic, environmental and social impacts, it can plan, avoid or mitigate risks and create new opportunities both for the business and society. Sustainability strategy must go hand in hand with the overall strategic plans of the company. A successful sustainability strategy has clear and measurable short and long-term objectives and an action plan to achieve them. It also needs a regular measurement process in place and the engagement of the leadership team all through the way.

ESG//Sustainability Reporting

Depending on its size and sector, companies should consider periodic reporting on their sustainability performance and achievements. For many companies it is mandatory and a regulatory requirement. Assessment of progress based on internationally recognised non-financial reporting standards or guidelines (GRI, Nasdaq, etc.), creates openness and builds trust with stakeholders.

Sustainability Communication

Communication has an essential role in building sustainability leadership, but very often the hardest part of all. A comprehensive communication program can begin only when there are clearly defined sustainability goals, targets and plans within the company. It is the last step in the process of a corporate sustainability agenda development. Starting too early can lead to “greenwashing” and as a result reputation risks to any business.

Measuring CO2 footprint

The EU Green Deal sets ambitious greenhouse gas (GHG) emission reduction targets for member countries. Businesses also have to play their role in achieving these climate goals. Both foreign and domestic companies can already request information on the climate impact of a product or service from their suppliers. Measuring a company's CO2 footprint, setting related climate targets and building a CO2 reduction plan will help in improving export potential and also achieve the goals set by the EU Green Deal.

Sustainable product development and eco-labelling

Life Cycle Assessment (LCA) is one of the key methodologies for understanding and improving the environmental impact of a given product. Once a company is aware of and works to mitigate the biggest impacts of its product, only then a business can position its product as sustainable without making a false green claim.

write to us!

elina.egle@vilands.lv

T: (+371) 29 654 616
(+371) 26 826 777


40-39 Brivibas street,
RIGA, LV-1050