The Croatian Financial Services Supervisory Agency (Hanfa) published the results of its first analysis of sustainability reports and accompanying audit reports for the 2024 financial year, covering issuers listed on the regulated market of the Zagreb Stock Exchange. The review, positioned as an initial assessment of implementation under new national requirements and the European Sustainability Reporting Standards (ESRS), found that reporting and assurance were largely delivered but that disclosures remain uneven in several areas. All 40 issuers prepared sustainability reports and 93% submitted the mandatory auditor’s assurance. Auditors issued unqualified limited assurance conclusions for 35 issuers (88%), while five issuers (12%) received qualified limited assurance conclusions linked to further alignment needs with the Taxonomy Regulation, ESRS and greenhouse gas emissions disclosures. Disclosures most commonly addressed climate change (100%), own workforce (98%), business conduct and corporate culture (98%), and consumers and end users (85%), while more than 75% did not report on workers in the value chain and 65% did not report on affected communities; biodiversity and pollution were the least reported environmental topics. Hanfa also noted gaps in greenhouse gas emissions disclosures (three issuers did not publish them), climate transition plans (seven issuers reported adopting a plan), target-setting for material topics (just over two-thirds fully or partially defined targets), and long-term sustainability strategies. Under the Taxonomy Regulation, only two issuers published no taxonomy indicators, most commonly reporting taxonomy-eligible CapEx, but 87% reported no taxonomy-aligned activities.
Croatian Financial Services Supervisory Agency 2025-10-22
Croatian Financial Services Supervisory Agency publishes first review of 2024 sustainability reporting by Zagreb Stock Exchange issuers, finding gaps in emissions, transition plans and Taxonomy alignment
The Croatian Financial Services Supervisory Agency (Hanfa) released its first analysis of 2024 sustainability and audit reports for Zagreb Stock Exchange issuers, highlighting uneven disclosures. While 88% received unqualified limited assurance, gaps were noted in alignment with the Taxonomy Regulation, ESRS, and greenhouse gas emissions disclosures. Key areas included climate change and workforce, but significant omissions were found in reporting on value chain workers, affected communities, and biodiversity.