On 25th of August, leader of the FICIL Investment Protection and Court Efficiency work group Māris Vainovskis participated at the annual forum on the capital companies of Riga municipality.

The forum gathers Riga’s capital companies board and supervisory board (council) representatives to discuss the challenges of corporate governance with this year’s discussion focusing on sustainability. The event “Management of capital companies of Riga municipality for achieving sustainable development goals” was held at House of the Black Heads.

During the event Māris Vainovskis presented the current Latvia’s trends, in the context of environmental, social, and corporate governance (ESG) and implementation of EU Taxonomy. FICIL’s work group leader concentrated his presentation on regulation, development trends and opportunities for capital companies’ approach to sustainable finance, foremost, highlighting what will be expected from companies when it comes to ESG reporting, such as the proposed EU’s Corporate Sustainability Reporting Directive that makes ESG reporting mandatory for the largest companies. Moreover, Māris Vainovskis also presented and explained all the different options for capital companies to raise sustainable finance, including further examining the multiple successful examples of businesses using either green or blue bonds or an initial public offering (IPO) to raise finance for implementation of sustainability goals.

FICIL recognizes the continuous improvements and implementation of good corporate governance practices in the management and supervision of Riga City capital companies.

You can listen to the recording of the event on Facebook by clicking here.