“We aim to expand our portfolio of clients and to diversify our range of services“

In 2021, INNOVA Project Consulting consolidated its strategic role as a consultant in the field of sustainability on the Romanian capital market, by increasing the number of supported listed companies, by diversifying the economic sectors in our portfolio, but also by creating the Guide to Responsible Businesses developed in partnership with ARIR – Romanian Investors Relations Association.

“In 2022, we aim to continue our initiatives to promote sustainability and the benefits it can bring to companies and communities, to expand our portfolio of clients and to diversify our range of services. In fact, in the first part of the year we will meet needs of the business environment with new instruments, which will facilitate the approach to sustainability for a wider range of companies in Romania. Thus, we will continue the initiative launched this year to create a culture of sustainability in Romania,“ Mihaela Croitoru, Founder & Managing Partner, INNOVA Project Consulting told The Diplomat-Bucharest.

COMMITMENT TO PERFORMANCE | BUSINESS EVOLUTION,  PROJECTS, PERFORMANCE, FIGURES  

“Unlike other years, 2021 was a year in which sustainability, the field in which INNOVA Project Consulting operates, was a topic of interest for many companies. This is due in part to the recent flow of new regulations governing various aspects of sustainability, such as the proposal for the Corporate Sustainability Reporting Directive or EU Regulation No 852/2020 on European Taxonomy, as well as the maturation of this topic among companies, investors, and the Romanian community in general. This year we saw the largest number of events and articles written in the media on sustainability and ESG (Environment, Social and Governance). The fact that more and more companies are coming to us, choosing to publish qualitative sustainability reports, to implement ambitious and coherent sustainability strategies and to implement impact projects for the communities in which they operate, demonstrates a much higher level of understanding on the benefits that sustainability can bring to a company.

In 2021, we consolidated our strategic role as a consultant in the field of sustainability on the Romanian capital market, by increasing the number of supported listed companies, by diversifying the economic sectors in our portfolio, but also by creating the Guide to Responsible Businesses developed in partnership with ARIR – Romanian Investors Relations Association. The guide is a tool by which companies, regardless of size, can identify concrete measures to improve their level of sustainability performance. This initiative enjoyed the support of both the Bucharest Stock Exchange and that of the most relevant listed companies. Following the appreciation of this guide, available at https://www.innovaconsulting.ro/wp-content/uploads/2021/11/05112021-Ghid-INNOVA_ARIR-interactiv.pdf, INNOVA Project Consulting was awarded in at the Financial Intelligence Gala in early December.”

STRATEGY & VISION |  RETHINK STRATEGY & PRIORITIES

“The economic and social context generated by the Covid-19 Pandemic and exacerbated by political instability has influenced all companies in Romania, but also our lives. We all had to adapt the way we work, the way we relate to our clients, but also to our colleagues. Working methodologies have changed and we have all discovered the advantages, but also the disadvantages of working from home. Therefore, I believe that the biggest challenge for all of us is the lack of direct interaction with most of the people we were used to seeing often, which unfortunately, as already announced, will continue in 2022.

In 2022, we aim to continue our initiatives to promote sustainability and the benefits it can bring to companies and communities, to expand our portfolio of clients and to diversify our range of services. In fact, in the first part of the year we will meet needs of the business environment with new instruments, which will facilitate the approach to sustainability for a wider range of companies in Romania. Thus, we will continue the initiative launched this year to create a culture of sustainability in Romania.”

PEOPLE & COMMUNITY | FOCUS ON SAFETY, SOCIAL APPROACH, LEVERAGE THE POWER OF COMMUNITY

“As mentioned earlier, the most important CSR initiative of our company is the Guide for Responsible Business. The guide is a peer-to-peer learning mechanism, through which companies can identify practical solutions to the various problems they face, thus improving their sustainability performance both through specific actions and good practices included in the guide. The actions are structured in seven principles aligned with the most important international initiatives in the field of sustainability, such as: the Global Sustainable Development Goals (SDGs), the United Nations Global Compact, the Global Reporting Initiative (GRI), but also the requirements of some of the most relevant ESG (Environment , Social and Governance) rating agencies.

Even if at the moment, the guide includes a series of good practices from the listed companies in Romania, it is addressed to any company, regardless of size.”

DIGITAL DNA  | GRASPING TECH, DIGITAL INNOVATION, CUSTOMER -DRIVEN, BUILDING NEW BRIDGES

“Digitization is a hot topic for all sectors, especially as a result of the Covid-19 Pandemic when we all had to adapt and work remotely. Some companies have been trained, some have not. For INNOVA, digitization was already part of our management systems, which allowed us to easily adapt to the new context. In fact, this year, we took another step in this field and developed an application that allowed us to improve and diversify our services in the field of sustainability.

In the field of sustainability, digitization will be mandatory. The text of the proposed directive published by the EC amending Non-Financial Directive 95/2014 states that non-financial information will be published as part of companies ’management reports, and disclosed in a digital, machine-readable format. This requirement has been introduced in view of the opportunities arising from digitization in terms of using information more efficiently and reducing costs. Therefore, after the entry into force of the final form of this Directive, companies will be required to prepare their financial statements and their management report in XHTML format in accordance with Article 3 of Commission Delegated Regulation (EU) 2019 / 815.63 and to mark-up sustainability information.”

2021 IN 3 KEY WORDS

“Responsibility, Continuity, Sustainability”

2022 IN 3 KEY WORDS

“Keep On Going”