Sanja Tišma, PhD, and Maja Janković from the Institute for Development and International Relations participated in the 6th International Conference on European Company Law and Corporate Governance – “New Era in Corporate Governance: Sustainability at Crossroads,” held on November 28-29, 2024, organized by the University of Zagreb, Faculty of Economics and Business, Department of Business Law, in partnership with ICC Croatia, the ELI Business & Financial Law SIG, and the ELI Croatian Hub. As part of the BORE project – The Essence and Colors of Sustainable Regional Development in the Republic of Croatia, research was conducted with the aim of illuminating the level of national implementation of Sustainable Development Goals (SDGs) and its impact on the evolution of corporate governance practices in Croatia, particularly the integration of social and environmental goals into the creation of added value for organizations.
The research findings indicate that the evolution of sustainable development, measured by the level of national implementation of SDGs, has influenced the evolution of corporate governance practices in Croatia by incorporating social and environmental goals into value creation for businesses. The newly shaped Croatian Word Cloud on Sustainability-Governance for the country-specific context reveals that environment, governance, sustainability, diversity, and ESG constitute the core of corporate sustainability communication today. By emphasizing these keywords, one can conclude that changes in focal communication on corporate governance also moderate national corporate practices. The convergence of corporate governance within the closed EU market has been ongoing for a long time; however, the “one size fits all” approach does not provide a viable solution for the further enhancement of corporate governance practices globally and locally, as presented in the paper titled “The Evolution of Sustainable Development as a Moderator of Corporate Governance Practices – Case of Croatia.”
