On Wednesday, December 11, the Sustainable Governance Awards were presented to Latvian companies that think about long-term development and care for a favorable environment for employees, clients and partners, Latvian Television reports.
The awards were introduced by the Latvian central bank (Bank of Latvia) four years ago to promote the efficiency and long-term value of Latvian companies through public recognition of best practices.
“Companies have developed their strategies, they have realized that it is not only profit-making that is important, but how the employee feels in the company, how decisions are made, how corporate governance works – the company’s management board, supervisory board, shareholder expectations,” said Kristīne Černaja-Mežmale, Member of the Supervisory Board of the Bank of Latvia.
This year, the Latvian Sustainable Governance Award was presented to real estate manager State JSC “Valsts nekustamie īpašumi” and waste manager JSC “CleanR Grupa”. Special awards for growth in sustainable management were presented to the Latvian State Radio and Television Center, the State Land Service and the insurance company Balcia.
Several companies, including plywood producer Latvijas finieris, received recognition for their efforts in the field of sustainable management.
This year, a total of 28 applications were submitted for the award, which were assessed by members of the Corporate Governance Advisory Board of the Ministry of Justice.
