The Economic Development Ministry is launching a public debate on a bill on establishing a national environmental, social and governance (ESG) framework to be submitted to parliament with the aim of boosting the competitiveness of Hungarian businesses.
The ministry said in a statement that a large share of Hungarian companies already receive data requests and face expectations related to ESG. This calls for clear regulations and forward-looking support for businesses, it added. It said the government is planning to submit an ESG bill to parliament in line with the goals of its SME strategy in the interest of boosting business competitiveness. Another aim, it added, was for consumers to be able to make informed decisions. The bill’s submission will be preceded by a public debate in which the government is seeking the opinions of stakeholders, the ministry said.