The project's primary goal is to empower SMEs, equipping them with the knowledge and competencies required to implement sustainable business models, green innovation, circular economy, and Corporate Social Responsibility into their operations. The adoption of Environmental, Social, and Governance principles will serve as a catalyst for SMEs to take a structured approach to these vital areas. Several key benefits will be realized:
- Enhanced understanding of ESG aspects relevant to their business, fostering the capacity to recognize and implement ESG practices.
- Preparedness for Directive compliance and the ability to maintain competitiveness throughout the value chains.
- The establishment of connections between process improvements and non-financial reporting.
The project will achieve sustainability in economic, environmental, and social dimensions:
Economic Sustainability: The project will contribute to economic sustainability in two ways. Cleantech Bulgaria Foundation will gain the necessary expertise in ESG training, offering it as a service beyond the project's duration. Simultaneously, the ESG framework will provide the skills and knowledge needed within the companies to drive overall improvements in their businesses, thus positively impacting their economic performance.
Environmental Sustainability: The project centers its efforts on enhancing the competencies of Bulgarian enterprises in the Green Industry sector by implementing ESG reporting. One of the core pillars of ESG is the environment, which will empower companies to adopt sustainable business models, green innovation, and circular economy practices, among others.
Social Sustainability: The project has a clear focus on ensuring social sustainability, requiring companies to incorporate social considerations into their business models, including matters like gender diversity, employee turnover, non-discrimination, child protection, and human rights.