There is currently no order in sustainability reporting and assessment. Various competing initiatives demonstrate a lack of uniform criteria (and, consequently, understanding). The International Sustainability Standards Board (International Sustainability Standards Board) promises to act, specifically by developing standards so that companies can inform potential investors. Naturally, the best outcome would be to create a new international (global) standard that incorporates all previous ones.
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In recent weeks, both in the Saeima and the Cabinet of Ministers, the thesis has been heard once again: “We must act this way, otherwise there will be penalties, infringement procedures, etc.” Often, such a pseudo-argument completely excludes reasonable disputes, discussions, or alternatives, forcing those responsible to make decisions hastily and not always in the interests of Latvia. Why is that?
Old habits are hardening - someone somewhere knows better, let us rely on them
Lack of sufficient capacity or laziness to defend a different point of view
A generation of cabinet officials has been created who are accustomed to accepting rather than delving into matters
This is a serious problem for Latvia for which no solution is being sought. It will probably be all right somehow...
Universal sustainability (ESG) standards are needed
