T. Taraba: Green Transformation Mustn't Reduce Competitiveness of Economy

Bratislava, April 19 (TASR) - The transition to a low-carbon economy should be implemented at a pace and scale that doesn't compromise the competitiveness of the economy and doesn't favour countries that don't protect the environment, Environment Minister Tomas Taraba (an SNS nominee) said on Thursday at the American Chamber of Commerce's (AmCham) Beyond Green conference on ESG reporting. "We're aware of the importance of impacts of climate change, but at the same time we're also aware of the fact that the green transformation must be done in a meaningful and effective manner and, above all, it mustn't be implemented at a pace and on a scale that would destroy our competitiveness, put jobs at risk and give an advantage to countries that benefit from not protecting the environment," said Taraba. Taraba noted in this vein that it's important to promote modern, environment-friendly technologies that will also improve the business environment and competitiveness. According to European Parliament Vice-president Martin Hojsik, climate change is a threat not only to nature, but also to civilisation and the economy. "At the same time, tackling the climate crisis is the best and biggest opportunity of our time for the entire business sector and industry," he said. The future success of any company, he said, must be tied to ecology and planet-friendliness. The Corporate Sustainability Reporting Directive, which has been approved by the European Commission, obliges large public interest entities to report sustainability information. This obligation will also apply to other large companies and, from January 1, 2026, to small and medium-sized enterprises that have been admitted to trading on a regulated market in the EU. zel/mcs