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Prague Stock Exchange adopts sustainability reporting guidelines

By Svitlana  Pyrkalo

Autumn view to Charles bridge on Vltava river in Prague, Czech Republic.

  • Prague Stock Exchange launches sustainability reporting guidelines developed with EBRD and Taiwanese support
  • Issuers encouraged to meet market expectations on sustainability reporting
  • In 2022, the EBRD invested €111 million in the Czech Republic

The Prague Stock Exchange is adopting its first environmental, social and governance (ESG) reporting guidelines for Czech companies, developed with the technical assistance of the European Bank for Reconstruction and Development (EBRD) and technical cooperation support from the TaiwanBusiness-EBRD Technical Cooperation Fund.

Transitioning to a low-carbon and climate-resilient economy has never been more crucial, and the shift towards green and sustainable assets depends critically on additional and more detailed ESG data to inform investors’ decision-making. With growing pressure from policymakers, regulators and investors to channel global financial flows to sustainable investments, sustainability reporting has become a key element of modern capital market development.

The disclosure of sustainability-related information has become an essential tool for measuring how companies manage sustainability-related risks and opportunities. The guidelines aim to provide issuers with clarity on how to approach ESG reporting in light of investors’ growing expectations and emerging regulatory developments in the European Union (EU).

The guidelines have been prepared with the technical assistance of the consultancies Deloitte Sustainability Consulting Central Europe and Frank Bold Advisory, and are the first EBRD-supported guidelines to take into account the latest EU sustainable finance regulatory requirements. The EBRD has also assisted the Warsaw Stock Exchange, the North Macedonian Stock Exchange and the Bucharest Stock Exchange to develop and publish ESG reporting guidelines.

Victoria Zinchuk, EBRD Regional Head of Central Europe, said: “The EBRD is committed to supporting the Czech Republic in its transition to a low-carbon and climate-resilient economy, in line with the EU sustainable finance package. We are pleased to have been able to support our partner, the Prague Stock Exchange, in developing these sustainability guidelines. The guidelines are timely amid growing demand globally for consistent and comparable corporate ESG data and the rapidly evolving regulatory landscape for sustainability reporting in the EU. As investors increasingly seek long-term value and alignment with sustainability and climate-related objectives, we are confident that the guidelines will increase issuers’ awareness of sustainability reporting practices and play a key role in supporting the Czech Republic’s transition to a climate-neutral and green economy.”

Petr Koblic, CEO of the Prague Stock Exchange, said: “Sustainable investment has received growing attention in recent years. European markets are witnessing increasing pressure to implement ESG criteria in investment strategies and the Czech Republic is no exception. As non-financial reporting is one of the basic tools for companies to achieve the Sustainable Development Goals and, in the absence of a uniform standard on reporting, we have decided to prepare guidelines together with our partners to help companies navigate the issue of non-financial reporting. For our listed companies, we will be preparing seminars together with our partners to help make the implementation of non-financial reporting rules as easy and smooth as possible.”

The EBRD resumed investing in the Czech Republic during the Covid-19 pandemic in 2021 after the Bank’s Board of Directors approved a request by the Czech government to help with the post-Covid-19 recovery. 


The EBRD invested €111 million in the Czech Republic in 2022, of which more than 80 per cent went into green projects. In line with the Bank’s target to increase its green financing, more than 80 per cent of its investment there in 2022 was in green projects.

The EBRD invested a record amount –  €2.35 billion – in central Europe and the Baltic states in 2022, 70 per cent of which went into projects furthering green economy transition, from new renewable-energy generation and e-vehicles to green bonds and similar instruments.

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