Teplárna České Budějovice and Frank Bold Pioneer Sustainability Reporting in the Czech Republic

České Budějovice Heating Plant (Teplárna České Budějovice  –⁠⁠⁠⁠⁠⁠ TČB) has become one of the first companies in the Czech Republic to publish a Sustainability Report aligned with European ESG principles (Environmental, Social, and Governance) under the ESRS framework — despite not yet being legally required to do so. The ESG report was developed in collaboration with experts from Frank Bold Advisory and was finalized in early 2025. An executive summary is now available on the company’s website.

Sustainability Reporting as a Strategic Priority

For TČB, sustainability is a key area for long-term development, as outlined in its Green City Strategy 2020–2048. The sustainability report will become part of the company’s annual reporting and will also undergo independent assurance in the future.

“We want to be an example of responsible and sustainable development. Our focus goes beyond annual profit — we also track defined sustainability metrics in line with European standards,” says Tomáš Kollarczyk, Vice Chairman of the Board at TČB.

Proactive Approach as a Competitive Advantage

Interest in ESG data from the report is already growing among TČB’s large energy buyers. At the same time, banks are tightening their requirements regarding ESG compliance. Although the reporting process is administratively, financially, and time-intensive, early preparation may offer a competitive edge.

This is echoed by Marie Machálková, ESG Consultant at Frank Bold Advisory, in her interview for Teplárenský zpravodaj:

“While ESG reporting is still voluntary for many companies, a few in the Czech Republic are already getting started. Their main motivation is to be ready for what’s coming — and to show investors, customers, partners, and the public that they take responsible business seriously.”

Data That Makes a Difference

Whether mandatory or not, the ESG data collected during the reporting process can offer significant value. Banks use such data — often gathered via questionnaires — to assess financing eligibility or interest rates. The double materiality analysis, a core component of ESG reporting, helps companies identify the impacts, risks, and opportunities connected to sustainability and turn those insights into targeted business strategies.

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