How can we collectively achieve the goals set by the European Union’s “Green Deal”, while enhancing business competitiveness, turning sustainability into an opportunity for economic growth?  

FICIL, in collaboration with the board of CSR Latvia, met with the Speaker of the Saeima, Daiga Mieriņa, to kick-start a structured dialogue on how to work together to meet the objectives of the EU’s “Green Deal” and boost business competitiveness by embracing sustainability as a catalyst for economic growth. 

The EU Green Deal represents a commitment to future generations, aiming to tackle the climate crisis and drive transformative changes in both business and society. FICIL has closely monitored developments in the green economy. Overall, Latvia still lacks effective coordination between public sector institutions and a clear plan for achieving specific targets and key performance indicators. While some long-term strategies have been adopted, many public institutions remain unclear on the top priorities, which in turn impacts the private sector and households. 

FICIL support the concrete proposals put forward by CSR Latvia, which outline the necessary steps to create an environment where sustainability opens new opportunities for businesses. 

Latvia’s economy has strong growth potential, with significant opportunities for innovation and investment. There is also potential for Latvia to become a leader in implementing sustainable business models on the international stage (e.g., by becoming a key player in global value chains). Both organisations believe that Latvia’s business vision could be to position itself as a leader in sustainability development and innovation. FICIL and CSR Latvia see a path to building a dynamic, sustainable, and renewable circular economy, driven by the use of renewable energy and cutting-edge technological solutions, and underpinned by the principles of the circular and bioeconomy, as well as, socially responsible business practices. 

However, as the meeting participants emphasised, much work lies ahead in fostering a shared understanding across the political and administrative spheres and agreeing on a specific action plan—a clear roadmap for driving economic growth through sustainability. 

We remain committed to working together with all stakeholders to ensure that sustainability becomes a core driver of Latvia’s economic future, positioning our country as a leader in sustainable innovation and development.