BDO in Ukraine publishes BDO Chronicles 2022-2023: 365 Days of Resilience

The war in Ukraine exposed the weaknesses of the global economy and showed that the world is fragile and needs greater unity and partnership to face global challenges and ensure the goals of sustainable development.

The invasion of Ukraine has raised several important ESG issues at the global level: the independence of countries in terms of renewable energy sources, human rights violated by russia’s unprovoked attack, and the declining credibility of governments of russia and belarus.

What ESG factors are currently relevant for the Ukrainian business?

Since the first days of the war, the social component (S) has been at the forefront for all companies. Businesses are working together to support the population of Ukraine and the country. In addition, the war has significantly exacerbated environmental issues (E), and experts provide more and more staggering data on the consequences of the war for the environment. It may seem that corporate governance (G) is not a priority today, but it is the successful and effective management of internal processes and risk controls that has allowed Ukrainian executives to keep their businesses afloat.

Today, adherence to the ESG strategy is more important than ever for Ukraine and Ukrainian businesses. When developing the post-war reconstruction concept, it is necessary to consider which factors make Ukraine the most attractive for investment in terms of its long-term sustainable development. Global statistics show that investors take into account the ESG factors of an entity they are considering as an investment option. Therefore, if Ukrainian businesses do not consider this fact, raising capital will be much more expensive or even impossible.

In “Chronicles of BDO in Ukraine 2022-2023: 365 Days of Resilience", we will talk about the year of the war and its impact on our company and Ukraine as a whole.

“Chronicles of BDO in Ukraine 2022-2023: 365 Days of Resilience” contain three sections: Environment, Social and Governance. These key ESG criteria reflect how focused the company is on the strategic development during the war and readiness for the post-Victory reconstruction. We will pay attention to each area so that readers can consider the impact of the war from different angles and rethink the meaning of the ESG values it has shaken.
 

In the Environment section we talk about:

• On the Road to Net Zero by 2050: opportunities and challenges.
• Counting the environmental cost of the war - one year on.
• Environmental vectors — Ukraine and the EU Green Deal.
• Compliance with environmental principles at BDO in Ukraine

In section Social you will read about huge challenges facing society and the country, complex coordination of the amazing BDO network support and the many human experience stories from colleagues who continue to work for the benefit of Ukraine no matter what. The social factor in the ESG concept of BDO in Ukraine is disclosed in the following subsections:

• Life or survival during the war?
• A year of war from the perspective of our people.
• Support of BDO global community.
• Volunteering of the company and employees

BDO in Ukraine we keep on operating smoothly all this time that enables us to fulfill our obligations to our employees, clients, partners and the country. We tell about it in the Governance section:

• Ukraine-2023: Victory and preparation for Ukraine recovery
• Fulfillment of obligations to employees, customers, partners, and the country.
• Working mode of BDO in Ukraine during the war.
• Business Service Shared Hub (BSSH) in Ukraine.
• Ukraine Recovery Initiatives.

Over the past year, the world around us has changed significantly. And it's not just about Ukraine.

There has been a significant rethinking of values and the environment. The war has shown that everything that seemed important before February 24, 2022, only seemed so. We have heard so many times of disappointment in loved ones and extraordinary support from strangers. Unfortunately, it is only in such a situation you can learn about your value in the life of another person.

Over the past year, Ukraine has adapted to living in a “new” reality. Despite all the horrors of the past year, we did not bow to the enemy. We are gradually restoring the devastation left behind by the “russian peace,” continuing to work and adapt our activities to the current situation, and making plans for the future, although it is not easy. And most importantly, we continue to defend freedom for the sake of all those who have fallen victim to the russian aggression, all those who have returned “on the shield” to defend Ukraine’s independence. It is our duty to continue the fight, and with the support of the entire civilized world, the war will surely end in our Victory.

We continue to hold the economic front and help those on the front line. We are preparing the ground for future reconstruction and look forward to the yellow and blue flag flattering across all Ukrainian lands. WE WILL WIN! WE WILL REBUILD!

DOWNLOAD CHRONICLES OF BDO IN UKRAINE 2022-2023