Agrokoncernas Group is the first representative of Lithuania’s agricultural sector to present a sustainability report prepared in accordance with the latest European Union requirements. The document has been included in Agrokoncernas’ consolidated management report for the 2023–2024 financial year.
Although the implementation of EU sustainability reporting requirements was postponed due to the so-called “Stop the Clock” directive, the decision was made not to delay and to begin implementing the set sustainability goals immediately.
According to Dr Miglė Jakučionytė-Skodienė, Head of Sustainability and Innovation at Agrokoncernas, the decision to prepare the report earlier was driven by several important reasons.
“This report will help us prepare for mandatory reporting, as preparation takes more than a year. With this step, we are also beginning to implement a sustainability strategy based on significant impacts, risks, and opportunities. We aim to systematically reduce our negative environmental impact and contribute to climate change mitigation. Moreover, the sustainability report is a sign of transparency, accountability, and innovation in our operations, helping to attract investors, clients, and talent,” says M. Jakučionytė-Skodienė.
The report included in the consolidated management report was prepared using a double materiality assessment methodology. Special sessions were organised for this purpose, involving experts from various fields within the Group’s companies and all top-level executives.
These sessions were dedicated to assessing both impact and financial materiality, discussing identified risks, opportunities, and impacts, and making decisions on their significance.
“All materiality assessment results were discussed and approved during the sessions – this ensured the justification, transparency, and alignment of decisions with the Group’s strategic priorities. Key stakeholders were also identified, and their insights helped to more accurately assess potential impacts and determine their significance,” explains the department head.
The sustainability report was prepared in accordance with the European Union’s Corporate Sustainability Reporting Directive (CSRD) and its standards.
“We are implementing our sustainability goals consistently and confidently. As leaders in the agricultural sector, we strive for transparency, environmental protection, and social responsibility. Regardless of regulatory changes, we will continue to prepare and publish sustainability reports annually in line with the latest EU requirements,” emphasises M. Jakučionytė-Skodienė.
According to her, the main goal is not only to comply with formal reporting rules but also to consistently reduce environmental impact, better meet stakeholder expectations, and build long-term, sustainability-based partnerships.
