The future of European green policy, including the so-called Green Deal, has been questioned quite often recently. However, lectures and debates at the conference organized by Frank Bold showed that for many entrepreneurs and companies, sustainable measures and mitigation of environmental impacts are already a reality, or rather an integral part of the business strategy. They represent both a challenge and an opportunity for them.

“Despite all the criticism, the Green Deal is successful in its goals. In a situation where each of the twenty-seven European governments has a slightly different opinion and approach, we have already managed to reduce CO2 emissions by 37 percent compared to 1990 in 2023. And this is due to aggressive savings and intensive construction of renewable sources,” said Pavel Franc, director of Frank Bold, about the situation in Europe at the beginning of the conference.

Economic and security aspects of sustainability
Transforming the European economy and reducing CO2 emissions, thanks to the strengthening of renewable energy sources, is a key strategy for Europe not only from an environmental perspective, but also from an economic and security perspective, as the conference participants agreed. The war in Ukraine clearly revealed how risky energy dependence on authoritarian political regimes – in this case, Russia – can be.

Moreover, companies and states are repeatedly discovering that taking sustainability into account is also economically beneficial. "Investments in green measures are not only necessary for our survival at all, but often we can make significant economic and financial gains from them as a society," stated Minister of Industry and Trade Lukáš Vlček at the Bold Future conference. He was joined by economist Tomáš Sedláček, Member of Parliament of the Czech Republic Martin Kolovratník, and Pavlína Žáková, Deputy Minister for European Affairs.

Confirmed direction
Combined with the expected efficiency gains from ESG reporting, sustainability represents a significant competitive advantage for Europe. This is the main reason why the European Union is not expected to make a major political shift away from green policies, according to Richard Howitt, a former MEP and pioneer of non-financial reporting who also spoke at the conference. Equally important, he says, is the fact that a number of new European Commissioners support and promote the green transition. "This confirms that the Green Deal is actually on the right track. It will slow down in terms of new developments. But the objectives are clear and confirmed. In the new period, the Green Deal will be reframed as an economic and competitiveness issue, and the emphasis will shift from policymaking to implementation," predicts European green policy expert Richard Howitt.

Integration into corporate strategy and culture
Specific examples of sustainable approaches in their fields were presented by, for example, David Bečvář, Head of Strategy at MTX Group, Jan Šipan, Sales Director of PPG for the Czech Republic, investor Silke Horáková from the Tilia Impact Ventures fund, or Martin Vohánka, Founder and CEO of Eurowag, which provides sustainable solutions for road freight transport. "If we think of sustainability as some kind of addition or sticker for reporting or marketing reasons, then it is wrong and we will not gain anything. On the contrary, if the concept of sustainability becomes an integral part of the company's strategy and culture, then it is a real business opportunity," said Martin Vohánka in his speech.

Municipality versus new construction
A panel discussion on the topic of sustainable cooperation between cities with investors and developers and the possible acceleration of construction was held as part of the afternoon program of the Bold Future conference. It was attended by Petr Kulhánek, Minister for Regional Development, Petr Hlaváček, Deputy Mayor of the Capital City of Prague, Lukáš Řádek, Deputy Mayor of Hradec Králové, and Matěj Hejma, Regional Development Director at Panattoni CZ. The problematic budget allocation of taxes and the long-term unsustainable economic situation of some municipalities pose complicated questions for local governments. The main issue is how to invest in the development of municipalities and retain residents who are increasingly moving to large cities, and how to cooperate with the private sector in construction.