We welcome you to familiarise yourself with the INVEGA Sustainability Report

Sustainability is an important and inherent value in INVEGA’s activities, reinforcing the integrity of the company and shaping its strategic and operational attitudes. The Sustainability Report for 2023 highlights how INVEGA contributes to the environment and society, promotes sustainable governance and applies the principles of sustainability in its activities, in line with its vision, mission, values and strategic objectives.

INVEGA aims to ensure that the sustainability policy is not just a formal document, but also a practical process implemented within the company that makes a real difference. One of the important initiatives implemented in 2023 was the establishment of the Green Finance Institute, one of the main objectives of which is to fill the gaps in sustainability competences and private–public cooperation, and to help the Lithuanian economy effectively transition to a green economy.

In 2023, for the first time INVEGA’s Sustainability Report is based on the Global Reporting Initiative standards to take stock of the most relevant sustainability topics for INVEGA and its stakeholders. Once the consolidation process has been completed and the sustainability activities and strategic objectives for 2023 have been assessed, INVEGA will start a detailed process of developing a Sustainability Strategy for the newly formed group in 2024.

The Sustainability Report assesses INVEGA’s performance by focusing on three sustainability areas: environmental, socio-economic and governance (ESG).

INVEGA’s Environmental Policy is the main document setting out INVEGA’s principles and measures in the field of environmental protection. In 2023, INVEGA’s carbon footprint was assessed for the first time; INVEGA’s administrative activities do not cause significant direct environmental impacts and damage. It should be noted that INVEGA’s indirect carbon footprint is considerably higher due to the goods and services it purchases. The environmental impact of INVEGA’s investments, which is likely to be significant, has not been assessed in 2023. INVEGA designs and implements financial instruments that help channel investments into improving energy infrastructure, clean energy technologies and energy efficiency.

In the social area, INVEGA’s main objectives are to create mutual value between the company and its employees. This includes strengthening an organisational culture based on shared values, to develop an attractive working environment that encourages employee engagement and personal commitment, and to create an efficient, competent company. This is INVEGA’s most important area of sustainability. During the 2023 consolidation period of the four national development institutions, the aim was to maintain a positive or stable level of employee engagement by creating a positive working environment, improving and consistently implementing good HR practices.

In the economic and governance area, INVEGA is implementing measures to ensure transparent governance and prevent corruption, conflicts of interest, improve public procurement procedures and update the indicators for assessing the socio-economic impact of financial instruments. The Governance Coordination Centre’s annual assessment of the quality of governance of state-owned enterprises (the Good Governance Index) issued an A rating to INVEGA in 2023. This score is based on the aggregate of the consolidated Corporate Governance Index scores.

For more information on INVEGA’s activities in the field of sustainability, please visit INVEGA’s website under ‘Sustainability’ (in Lithuanian language).