Information published on 26 June 2018 in the UIC electronic newsletter "UIC eNews" Nr 605.

Latvia: Latvijas dzelzceļš awarded the Platinum Category of the Sustainability Index for the first time

After evaluation of the activities of SJSC Latvijas dzelzceļš (LDz) in the fields of work environment, corporate governance, market relations, environment protection and community support the experts from the Institute for Corporate Sustainability and Responsibility organising the annual Sustainability Index of Latvia have granted outstanding assessment to LDz. Thus, the company has achieved compliance with the Platinum Category for the first time.

LDz has participated in the Sustainability Index since 2011, and the assessment of experts has increased every year, thus allowing the company to rise to the highest level – the Platinum Category.

The highest evaluation marks by the experts were awarded to LDz for its performance in community support area, followed by corporate governance and market relations.

“When I assumed the office, I set a goal: Latvijas dzelzceļš must become the best governed company in the Baltic States. One of the ways to test the progress towards the goal is participation in the Sustainability Index. The high assessment of the experts by awarding Platinum Category confirms that we are on the right path. At the same time, we understand that we have to continue to improve. I would hereby like to express my appreciation to the management team and every individual at the company, who has contributed to achieve this result, and I hope that next year all the group companies shall participate in the evaluation,” said Edvīns Bērziņš, President of LDz.

The Platinum Category of the Sustainability Index is awarded to companies with indices exceeding 90% according to the experts’ assessment. These companies have fully integrated sustainable approaches in their practice, and they have appointed responsible individuals both at the level of the board and executive units. These companies are involved in systemic data collection and assessment of impact. They report their activity with high level of transparency and involvement of affected public, and their public data is approved by an external auditor.

“Platinum Category companies are companies whose management making the key decisions play a significant role in the achievement of the result,” underlined Dace Helmane, Head of the Institute for Corporate Sustainability and Responsibility.

High assessment marks for their activities in the last year in the fields of work environment, market relations, environment protection and community support were also awarded to two subsidiaries of LDz. LDz Cargo Ltd. received a Golden Category award, whereas LDZ Ritošā sastāva serviss takes place among the Silver Category companies. For both companies the assessment results were a category higher than the previous year.

In addition, this year LDZ Ritošā sastāva serviss Ltd. received an award of Champion of Sustainability for achievements in environment protection.

“During the last two years we have taken a large step in the development of our company. The road has not been smooth; therefore I want to thank all the team of LDZ Ritošā sastāva serviss Ltd. for their contribution and professional work. These awards given to the company serve as proof of our professionalism and as an incentive for further growth and development giving significant contribution to the development of economic activity in Latvia,” pointed out Edgars Abrams, Chairman of the Board of LDZ Ritošā sastāva serviss Ltd..

The awards were given within the framework of the Responsible Business Week that also included an award ceremony of Family Friendly Businesses. This award by the Ministry of Welfare was received by all three companies of LDz group participating in the Sustainability Index assessment.

(Source: LDz)

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