In Hungary, domestic companies shape their sustainability strategies mainly due to regulatory pressures and risk reduction—not market forces—according to the latest competitiveness report by Corvinus University of Budapest.
The survey, covering over 330 firms, reveals that cutting environmental risks to lower business risks is now the top driver of corporate green efforts, up from fourth place in 2019. EU regulations and their local implementation stand out as the strongest influence on environmental investments, surpassing considerations like customer expectations or return on investment.
While measuring carbon emissions (65.4%) and adopting environmental management systems (63.9%) have become common, the human side of sustainability still lags, with fewer than a third of companies using environmental criteria in employee evaluations.
Most firms that invest in sustainability (around 70%) report benefits such as enhanced image, more durable products, and reduced environmental impact. Larger and foreign-owned companies typically show greater commitment, reflecting targeted regulatory impacts.
The study, conducted for 30 years by Corvinus’s Competitiveness Research Centre, also highlights wide disparities in how firms approach green practices depending on their size, ownership, and competitiveness levels.
Source: Budapesti Corvinus Egyetem
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