The Institute of Public Finance has prepared its first Sustainability Report for 2024, with the aim of systematically monitoring and managing environmental, social and governance (ESG) factors and strengthening transparency in its operations.
Although the Institute is not subject to the Corporate Sustainability Reporting Directive (CSRD) or the European Sustainability Reporting Standards (ESRS), as a public research institution and a beneficiary of public and EU funds – including projects financed under the National Recovery and Resilience Plan and the Horizon Europe programme – the Institute has voluntarily adopted these standards. Of particular importance is the “Do No Significant Harm” (DNSH) principle, which requires that no activity should have a significant negative impact on the environment.
The Report outlines how the Institute contributed to environmental, social, and governance objectives during 2024. The environmental section focuses on the calculation of the Institute’s carbon footprint and the analysis of its main sources of greenhouse gas emissions. The methodological framework for assessing the carbon footprint is based on the National Database of Greenhouse Gas Emission Factors of the Republic of Croatia, aligned with the Greenhouse Gas Protocol and international standards ISO 14064-1 and ISO/TR 14069. Emission calculations were conducted in accordance with the Guidelines for Using the Emission Factor Database and the Methodology Guide for Calculating Greenhouse Gas Emission and Removal Factors. The analysis covers direct emissions from sources under the Institute’s control, emissions related to purchased energy consumption, and other indirect emissions arising from the procurement of goods and services, business travel, and other activities. In addition to emission calculations, the Report includes analyses of energy, water, and resource consumption, as well as measures undertaken by the Institute to reduce its environmental impact.
The social section of the Report analyses the structure of employees, equal opportunity policies, investment in training and education, and contributions to the local community. The governance section focuses on management structure and practices, financial and institutional transparency, research independence, and adherence to ethical standards. The Institute particularly emphasizes the importance of fostering an inclusive and supportive work environment and maintaining high professional standards across all areas of activity.
This form of reporting is intended to become a regular practice, aimed at strengthening public trust, improving institutional efficiency and resilience, and contributing to the development of sustainable practices in the public sector. Transparent monitoring of environmental, social, and governance indicators serves as an important tool for management and strategic planning, while also supporting the achievement of European climate and social objectives.
The full Sustainability Report for 2024 is available in Croatian in the repository of the Institute of Public Finance.
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