Financial Times includes Hrvatski Telekom and Valamar on the list of European climate leaders

Based on a large-scale study, the Financial Times and Statista published list of European climate leaders which they chose this year from a total of 4000 companies from 33 European countries, and according to the success of their ESG strategies and activities in the field of environmental protection, social engagement and management methods.

Two Croatian companies, Hrvatski Telekom and Valamar Riviera, are on the prestigious list of European climate leaders for 2022. This is a great recognition of the continuous efforts and investments of both companies in environmental protection, impact on society and excellence in corporate governance (ESG).

This year, the criteria for companies have been further tightened, and two key criteria are the total reduction in the amount of underlying greenhouse gas emissions in business operations in the period from 2015 to 2020, and the reduction in the intensity of these emissions expressed through the ratio of greenhouse gas emissions to revenue.

In the aforementioned period, Hrvatski Telekom reduced its total greenhouse gas emissions by as much as 68,5%, which is the third best achievement in the entire European telecommunications industry in the observed period. In the same period, it reduced its CO emissions₂ for almost 33 tons.

Valamar Riviera reduced its greenhouse gas emissions per night by as much as 70% in the same period and is one of only six companies from the tourism sector on the list. According to the criterion of reducing overall baseline greenhouse gas emissions, both domestic companies are in the upper part of the ranking. For example, only four companies on the entire list are better than Valamar Riviera in this indicator.

"We have been using renewable electricity for years, and due to the 100% switch to renewable electricity, we did not release more than 40.000 tons of CO into the air in 2021 alone₂"Our goal is to contribute to a more sustainable future in which the smart solutions and infrastructure we build enable others to manage resources more efficiently, and to do business and live more sustainably in smart cities.", she stated Marijana Bacic, Vice President for Corporate Sales and ICT Services at Hrvatski Telekom.

"Tourism in Croatia can only achieve its full potential based on the principles of sustainable development. At Valamar, we have been paying great attention to the protection of the environment and natural resources for years, developing the quality of accommodation facilities, destinations and tourist infrastructure, investing in high added value products and services, and providing employees with long-term attractive careers in tourism. Valamar has translated its responsibility for sustainable development into numerous projects that have yielded excellent results not only in significantly reducing its carbon footprint but also in the development of our destinations and added value for other stakeholders. We are extremely flattered that the Financial Times has also recognized the quality of Valamar's path towards more sustainable tourism.", said a member of the Valamar Riviera Management Board Ivana Budin Arhanić.

Valamar Riviera is a leader in innovative resort tourism management and a destination partner that continuously creates new value through responsible and sustainable tourism operations. As the largest investor in tourism in Croatia, Valamar has so far invested over 6 billion kuna in portfolio development and quality improvement, with investments in sustainable development programs reaching almost 500 million kuna since 2015, or over 4% of revenue.

In 2021, the most ambitious project was launched solar power plant project on the Croatian market, which was implemented by Valamar and E.ON Solar, thanks to which Valamar produces up to six percent of all electricity through photovoltaic cells. Valamar uses 78% of its food and beverages from domestic production, and this year opens the doors of the first sustainable eco-resort in Croatia, the Valamar Amicor Green Resort on Hvar. Valamar has won numerous awards and certificates for quality and environmental protection.

Hrvatski Telekom is the largest investor in digital infrastructure in Croatia, as evidenced by more than 10 billion kuna of investments in the past few years, which is a major contribution to the economy, but also an incentive for the digitalization and development of the entire society. The recognition by the Financial Times is a great recognition for HT's quality corporate governance, implementation of a sustainable development strategy, continuous investments, development of highly efficient infrastructure and for the introduction of modern ICT services and innovative network solutions, based on which HT positively contributes to environmental preservation and more efficient use of natural resources.

Along with digitization, sustainable business (ESG) is a leading trend in the corporate sector, so the inclusion of domestic companies on the list of climate leaders further strengthens Croatia's position in European and global business.