Business & Economy Czech Republic News

Škoda crowned most sustainable company in Czech Republic

Prague, Czech Republic – The iconic car-maker Škoda has been named the most sustainable company in the Czech Republic, Emerging Europe reported.

The evaluation was carried out by Czech authorities, who praised the emblematic Czech company’s commitment to sustainable and responsible activities since its foundation, at the end of the 19th century.

The assessment takes into account a wide variety of factors, including cooperation with local companies and NGO’s, its impact on innovation, community care or regional development, including in its historic stronghold of Mlada Boleslav, where Škoda last year pledged 780 million Kc to increase the attractiveness of the region.

The company, the biggest private employer in the Czech Republic which accounts for some 5% of national GDP, invests millions of Czech crowns in sustainable, social and charity projects. The Škoda Auto University, for instance, was the first company campus in the Czech Republic when it was founded in 2000.

The company also publishes a sustainability report every two years.

“We are changing the government’s relationship with investors,” said Minister of Industry and Trade Karel Havlíček. “Instead of restricting and raising taxes, we motivate them to invest in developing and supporting the environment around them. That is why we recently established the National Development Fund and therefore we appreciate the most responsible investors, the most respectful of the environment and the ones with the largest social impact.”

Škoda might arguably be the most iconic and well-known Czech company in the world today. Part of the German Volkswagen Group since the early 1990’s, Škoda Group is the driving force of the country’s flagship auto industry, and one of the main reasons why the Czech Republic ranks – albeit behind neighbouring Slovakia – as one of the biggest car producers per capita in the world.

Nearly 1.3 million Škoda cars were manufactured worldwide in 2018, a record-breaking year according to the company’s annual report, not only in its historic Czech factories, but also in car plants located in China, Russia, Slovakia and India. Škoda cars are exported in the entire world, with its top 5 markets being China (nearly 30% of global sales), Germany, Czech Republic, Russia and the United Kingdom.

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