Since the launch of the project in 2022, each month has been dedicated to promoting and achieving one of the 17 UN Sustainable Development Goals and, in collaboration with more than 200 partners in the fields of sport, culture, health, prevention and business, to encouraging the general public to act sustainably. “The main message of the project is that we are all responsible for securing a more sustainable, green and just future, and that each of us can do something to make a difference today. There is no need to wait for tomorrow,” said Nina Kelemen, head of sustainable business at the Triglav Group.

Triglav is committed to sustainable development in four key areas: insurance and asset management, business processes, a responsible approach to stakeholders and effective corporate governance. With campaigns such as For a Better Tomorrow, Let’s Clean Up Our Mountains, Children of Triglav, Young Hopes, the Triglav Run,Young Hopes and Driving Refresher, as well as the Vozimse.si platform and many other projects, the Group are already taking decisive steps towards a better future. With a commitment to sustainable development, they are also creating a stable long-term basis for safe and secure business operations.

“We are promoting digital business, strengthening an awareness of sustainability among our employees, carrying out comprehensive measurements of our carbon footprint, and focusing hard on the energy renovation of our buildings. Our portfolio already includes insurance for claims arising from damage caused by climate change, as well as solar power and micro-mobility insurance. As far as managing our own portfolios is concerned, we are increasing the share of sustainable and green investment classes aimed at financing the green transition. By carrying out systematic measurements, we are able to ensure high levels of customer satisfaction, develop our employees’ expertise and competence, implement effective health promotion programmes, and promote multidimensional diversity and intergenerational cooperation,” says Kelemen. In the future they intend to strengthen and restrengthen their contribution to a sustainable, just and green future through a variety of activities and awareness-raising efforts.

More than 200 partners who have joined the Let’s Secure the Future (Zavarujmo prihodnost) project have already accepted the challenge to become part of the #Zavarujmoprihodnost community. Everyone can commit to at least one activity for each of the 17 Sustainable Development Goals – one that is close to their heart and that will help them contribute to a sustainable future.

Together with the Disabled Sports Federation of Slovenia (Paralympic Committee), which promotes innovation and the development of (technological) solutions to make involvement in sporting activities easier, the Triglav Group are raising awareness of UN Sustainable Development Goal 9 (Infrastructure, Industrialisation and Innovation) throughout the month of February. Top paracyclist Anej Doplihar reminds us in this video of the importance of providing comprehensive infrastructure and of the need to foster innovation to ensure a better quality of life, greater freedom and more equal integration into in society.

To help and inspire people to find activities that enable everyone to pitch in and play their part in the sustainable transformation process, the www.zavarujmoprihodnost.si website will offer fresh ideas for things we can do as individuals and organisations and that help us to inspire each other, whether it’s cycling instead of driving to work, using digital business approaches, helping out at a local animal shelter or volunteering at a retirement home. #Zavarujmoprihodnost.

Digital experts are a vital part of the Triglav Group’s key business areas, with their combined knowledge and competences in insurance and IT. In order to excel in the digital environment, Triglav need to attract highly skilled staff, the crème de la crème, and that is a significant challenge! Therefore, a focused and targeted approach to the recruitment of digital talent is very important. At Triglav, they have analysed what high calibre employees are looking for in terms of salary, and what they want to achieve once they are hired.

“Judging by some of the interviews we’ve done recently, the introduction of the option to work from home was the biggest step we’ve taken towards meeting the needs of new talent, and this is often their first question. Employer reliability and job security as well as good work and employment conditions are also key requirements.Many candidates come from smaller companies where they are often troubleshooters and all rounders, so many applicants really appreciate the opportunity for the focused professional development and training that we can offer them at Triglav.” says Alenka Bešter, Director of Digital Marketing and Content Management at Zavarovalnica Triglav, highlighting some of the advantages of working for the Triglav Group.

Her recruitment strategy is confirmed by Triglav’s staff and their achievements. Perspective, financial stability and Triglav’s success were among the reasons why Lucija Vermezović, Specialised Sales Channel Coordinator, decided to join Triglav Osiguranje, Belgrade. She says that job security, respect for traditional values and a focus on personal development, all in accordance with European Union standards are her most important criteria for joining a company. The outstanding business performance of the Triglav Group also convinced Mark Prelec, Digital Business and Customer Experience Associate at the Zavarovalnica Triglav, to join the company. The opportunity to co-create the digital future of the largest insurance company in the Adria region was the main reason that he chose to join Triglav.

Triglav want to stay ahead of the curve by taking a more focused and strategic approach to recruitment while also developing their employees to their full potential by providing them with the right opportunities to develop and progress their career. The Triglav Group offers employees a large number of benefits including the use of the most modern technology, flexible options to work from home, a creative and dynamic working environment, stability, and a highly reputable, family-friendly company with a good work- life balance, as well as on the job mentoring, continued professional education, and a great experience.

Also, according to research by the EU Commission and other institutions, the cost of owning a personal vehicle i.e total cost of ownership will rise in the coming years, which will mean that many people will have to resort to other modes of transport/mobility. How will mobility affect our everyday lives?

In the cities, we will see a boom in different types of transport. We can already see all types of vehicles on the streets, changes are already happening. Just look at the larger cities, where the infrastructure includes: a bike rental system, e-bike rentals, various electric car sharing, privately owned electric-scooters and electricscooter rental systems, many different modes of food delivery, public buses, trams etc. In cities, people will be able to live without their own personal vehicle, and it is expected that within a decade we will already notice the influence of shared self driving vehicles, which will change our habits and needs. The biggest question we face and which could have a strong impact is the development or quality of public infrastructure (railway, bus) in the future.

We asked the biggest energy company in the Adriatic region, Petrol, how they see the future of mobility and they said that they are already implementing their strategy to meet the future needs of mobility and sustainability. For example, at the Kozina motorway location, they carried out a pilot project of installing an electricity storage tank with a capacity of 210 kWh and they also connected fast and two ultrafast charging stations up to 350 kW.

They also implemented a pilot project of the first local self-sufficient community in Slovenia in the small settlement Luče. In the long term, Petrol will also change its sales points. The plan is for multi-story buildings, and at least one for RES (renewable energy sources) as well as electricity storage, with a larger charging park for electric vehicles and other alternative sources of energy, such as hydrogen.

Jože Bajuk, a member of the Petrol executive board, points out that:
“The development of the market for petroleum fuels in the field of mobility will retain an important role in the next ten-year period; however, electricity will complement it to a greater extent than before. This is also indicated in the guidelines of the most important manufacturers in the automotive industry.” He also explains how they plan to accommodate the change in e-mobility and transport: “Because in the coming years we expect accelerated electrification of road transport and an increase in its efficiency, at Petrol, in accordance with our strategy, we are building a network of charging stations throughout Slovenia and in the region and connecting with the growing network of e-charging stations across Europe. Because the biggest increase in the market share of the electric drive will be in personal transport, while in the transport of cargo and people in larger vehicles, electricity will still be in second position for quite some time.”

Petrol has a total of 318 petrol stations in Slovenia and 574 e- charging stations, which are not located only at petrol stations. They have over 590 locations in the Adriatic region and by 2025 they aim to have 1,575 echarging stations under management in the region. Last year, the first DC charging station was opened in Belgrade, as well as one in Montenegro.

“The electric car market is growing significantly faster than was predicted a year or two ago.”

One of the most important challenges for the automotive industry is its transition to e-mobility. Estimates suggest that by 2030, the proportion of electric cars will grow to 25 or 30 per cent of the market share, which is a fact that global car manufacturers are already adapting to.

“The electric car market is growing significantly faster than was predicted a year or two ago. The slogan of one of our biggest partners describes this trend most eloquently. If MercedesBenz had the slogan ‘electric first’ until last September, it now has ‘electric only’. Car manufacturers no longer invest in the development of the classic drivetrain, but merely adapt it to meet future EURO 7 emission standards. Their strategy is e-mobility,” says Andrej Megušar, CEO at LTH Castings, one of Mercedes-Benz’s development partners based in Slovenia. It also has production facilities in Croatia and North Macedonia.

An electric car has fewer components than a classic car. For example, a gear box is not needed in an average electric car, because the electric drivetrain works equally well in a very wide range of revolutions, with immediate effect from standstill to acceleration – and therefore not even a clutch is needed. The term ‘one pedal driving’ has also become established, which means that some electric cars, such as the BMW i3, can only be driven by pressing and releasing the gas pedal. All this has also been taken into account by LTH Castings, a partner of BMW, which has been producing parts for most of their powertrains for more than 30 years. In recent years, however, cooperation has been expanding mainly into the development and production of components for e-mobility.

The fact that there is no need for parts such as the clutch, which are among the more expensive parts of a classic car, represents a new approach to the development and production of parts by manufacturers, parts such as battery cases and powertrains, and components for the conversion of electrical energy. “Changes don’t happen overnight. We follow developments in technology and reckon that electrification will largely flow through hybridization – mainly due to objective capacity limitations, both in the infrastructure for the use of electric cars and in production. There is no longer any debate about the electric car coming, it is here. The key is how the roles will be divided in the production chain since new typical pieces appear with the electric car. There are quite a few of them, and to a considerable extent they are pressure castings, which is good news for LTH Castings,” says Igor Grilc, CEO at LTH Castings.

At NLB’s traditional regional business events in Slovenia, NLB encouraged people to embark on the path of sustainable development and to adopt a caring and responsible attitude towards the environment and society. The events were dedicated to current conditions and the realization of a sustainable future. One of most important questions was how to deal with new challenges and opportunities for the sustainable transformation of the company.

Blaž Brodnjak, President of the Management Board is convinced that responsibility does not start with companies, but with each individual. “Until we change our habits, we cannot talk about change. We need focus, a clear vision and clearly defined priorities, but everyone has to start with themselves and apply sustainability principles in their everyday life”, Brodnjak added.

Orientation towards the future

Dr Vasja Rant, associate Professor of Money and Finance at the School of Economics and Business in Ljubljana believes that orientation towards sustainability is the direction of the future. Sustainable finance, in addition to adhering to the traditional principles of due diligence, must also look at a broader perspective, and take into account the wider economic impact of social and environmental activities. Sustainable financing is intended for sustainable and environmentally friendly investments. “We are talking about the green and digital transition the first major transformation of the economy since the industrial revolution. The transition brings both opportunities and challenges for companies; it will be a dynamic process with substantial changes for both technology and value chains. Banks will be partners with companies involved in this process because banks can only succeed if businesses succeed, as it is a symbiotic relationship. For banks to provide financing, they will need to have adequate information and perform appropriate due diligence on the overall impact that the companies will have on the environment and society as well as how sustainability risks will affect companies.”

The central pillar of sustainable finance is taxonomy

The basis of sustainable finance in the EU is taxonomy, i.e. a classification system of environmentally sustainable economic activities. It acts as a reference point that defines when specific economic activities are environmentally sustainable and when they are not. The other two pillars of the EU sustainable finance framework are the rules governing sustainability information disclosures and sustainability tools for measurement and comparison.

Environmentally sustainable activities are those that significantly contribute to at least one of the six environmental sustainability goals, defined in the Taxonomy Regulations. Non-financial companies bound by the CSRD (Corporate Sustainability Reporting Directive) are obliged to report on at least three key performance indicators (KPIs) on compliance in relation to the taxonomy regulations, namely – turnover, capex and opex KPIs. Financial enterprises, including banks, will have their own KPIs with respect to the taxonomy criteria.

A basic use of the taxonomy is to review the compliance of a company’s existing operations with respect to the taxonomy criteria, while an advanced use of the taxonomy is applied when working with a bank on the green transition. An example of such advanced use of taxonomy could include:

• Assessing the degree of non-compliance of the company’s operations with respect to taxonomy criteria
• Developing a strategy and setting measurable goals to achieve compliance with the regulations
• Obtaining green financing to implement the strategy in agreement with the bank

In this way, the taxonomy can bring about a triple benefit – not only to the company itself, by increasing its competitiveness, but also to the bank by increasing the long-term sustainability of its portfolio and also to the government by supporting country level green transition objectives.

Green transition as an opportunity

In conclusion, Rant said that orientation towards sustainability and climate neutrality is imminent. It is also a long-term answer to the current energy crisis. There is no option for plan B because there is no other planet. The EU has developed a regulatory framework for sustainable finance as part of the broader strategy of the European Green Deal.

Taxonomy is a central pillar of sustainable finance in the EU, but at present, SMEs are not yet obliged to report on their compliance to the taxonomy, but they can benefit from using the taxonomy in cooperation with a bank. The main benefits provided are improvement of competitive position, easier access to financing and a timely management of physical, transitory and regulatory risks. At NLB they follow the taxonomy “When monitoring a company we are interested in how sustainable the business model is. This question is relevant to every company,” says Matjaž Rupnik, Director of Evaluation and Control at NLB. “We are trying to create a more sustainable portfolio”, adds Andrej Meža, Director of SME Business. “We think this is where we can make the biggest impact. We are looking at the whole region. For us, this is also an investment, and in the long run – a relief. We have started earlier than others because we have foreign owners, of which EBRD is one of the largest, and therefore we have certain standards to maintain. If you have sustainable investors, they will support you – the green transition will be a huge opportunity for all of us.”

Discover Slovenia’s green, creative and smart competitive advantages and seize its favourable working environment for your own business endeavours.

With sustainability at its heart, it doesn’t come as a surprise that Slovenia’s environmental committment plays a fundamental role in its drive to promote green technology, corporate social responsibility and a culture of transparency. One of the companies working towards a greener future is Aquafil. Aquafil produces a groundbreaking nylon alternative derived from waste products such as ghost nets, rugs and carpets. Denis Jahić Managing Director at AquafilSLO, says Slovenia’s green credentials and skilled workforce make the country an obvious choice for the company’s operations.

Many investors are already tapping into Slovenia’s inherent advantages – its natural riches, a favourable geostrategic position, backing from strong research institutions and technology parks, business accelerators and, above all, an informed and motivated population.

Slovenia’s economy is thriving. The country has become an attractive place for investment and cross-border trade, with its highly skilled talent pool undoubtedly constituting the backbone of the country’s business development.

Attributing much of its success to first-rate talent is the heating solutions firm KRONOTERM. Bogdan Kronovšek, the company’s Co-owner and Managing Director, lists an excellent geographical position in Europe, good infrastructure, a quality education system and the government support as what has enabled the heat pump producer to scale to new heights of success. The hard-working, innovative, technically as well as linguistically skilled employees contribute to KRONOTERM’s goal to increase the number of people with access to modern, energy-saving and environmentally-friendly heating. The entire region can learn a lot from KRONOTERM, which has been named one of the 19 companies leading Europe’s heating sector out of fossil fuels with their breakthrough heat pump technology.

Dušan Olaj, the Founder and General Manager of Duol, agrees that Slovenia’s talent pool is essential for success: “Slovenia’s focus-oriented and free education system allows companies to choose from a diverse pool of professions and skills. Cooperation between universities and industry allows for a wide range of student grants, supporting the correct level of education of your future employees.” Duol, world-renowned for designing, manufacturing and installing inflatable halls, is one of the many Slovenian companies that push the boundaries and empower other entrepreneurs and corporates alike to take on ambitious projects that require technological know how themselves. Central to supporting entrepreneurship, internationalisation, foreign investment and technology is SPIRIT Slovenia Business Development Agency that remains available for any enquiries your business may have.

The challenge of providing Europe and the wider world with energy security is as pressing as ever and it is reassuring to know that Slovenia possesses a range of innovative businesses that play a vital role in achieving the green energy transition.

And what makes Slovenia a competitive place to do business? Uroš Salobir, Director of the Strategic Innovation Department at ELES (operator of Slovenia’s electric power transmission network), believes it is the strong support from the government, industry and, in particular, the citizens. »Employees are future-oriented and the culture is characterised by adaptation to change.«

Boris Šajnović, Head of Project Management Office at Iskra – is another Slovenian company working towards green goals within the sustainable transportation sector, and it finds the country »a truly good pilot environment to test and demonstrate innovative projects with the full support of local people, government and positive business climate.« He adds the environment for innovation is supportive, strict intellectual property laws are in place and there is a good network of public agencies that help businesses at every stage of growth.

Business and investors looking for new opportunities are invited to get in touch with SPIRIT Slovenia Business Development Agency which offers strategic advice and operational support. The Agency provides practical information and advice on various business opportunities such as individual investment locations, Slovenian suppliers, specific industries and markets.

Find out more about doing business in Slovenia at www.Sloveniabusiness.eu.

The Minister of Labour, Family, Social Affairs, and Equal Opportunities, Luka Mesec, opened a conversation on how to work smarter and better by stating that the role of the state has changed in recent times. In his view, the solution to the challenges facing society lies in cooperation between the state and other spheres, as well as the promotion of social dialogue. He cited Scandinavia as an example of a region where this approach has been successful, noting that the state’s role is to enable such dialogue, rather than dictate it. The Minister also addressed the issue of the four-day working week, acknowledging that no country can exist in isolation in today’s globalized world, and that international competitiveness must be taken into account when making policy decisions.

According to Tine Kračun, the Director of the Institute for Strategic Solutions (ISR), the key to navigating the current crisis and emerging victorious lies in the ability to adapt, cooperate, and innovate. Speaking on the potential for integration within the Adriatic region, Kračun emphasized the importance of the economy and the integration of the region into the European Union. “The well-being of individuals is closely tied to the health of the economy,” Kračun stated. “As such, we see great opportunities for Slovenia in the integration of the Adriatic region within the EU.”

According to Dr. Jure Stojan, Director of Research and Development at the ISR, the current state of the economy is in a period of uncertainty, characterized by volatile market conditions. “Data shows that we are currently experiencing a period of economic fluctuations, with the prices of German producers experiencing a reversal, while remaining high but no longer at record-breaking levels,” said Stojan. He also highlighted that the current pressures on the economy are not just limited to the ongoing pandemic, but also include issues such as climate change and other conflicts. Stojan emphasized the need for swift action and adaptation in order to navigate these uncertain times, stating, “We must not rely on time, and must take proactive measures to address the changes that we ourselves are making to the economy.

Navigating Uncertainty: The Role of Innovation in Shaping the Future

As interest rates continue to rise after more than a decade of being stuck near or even below zero, companies are faced with the reality of limited government borrowing options. Domen Prašnikar, Director of the consultancy Valior, emphasizes the need for businesses to protect themselves and build resilience through the use of modern technologies and management strategies. Prašnikar stresses that innovation is key to adapting to the current uncertain environment.

Maja Krumberger, Director of the Slovenian Insurance Association, also highlighted the pressing issue of demography in Europe, with Slovenia ranking among the highest on the continent. “With an aging population and fewer active workers, we will rely less on pensions,” Krumberger said. “Insurance companies have responded by offering products that ease the burden on public healthcare systems.” Krumberger underscores the importance of collaborating with regulators and finding solutions that benefit society as a whole

In uncertain times, the role of innovation in shaping the future cannot be overstated. This was a sentiment echoed by Andrej Lasič, a member of the NLB board, who emphasized the challenge of demography in the region as a pressing issue that affects many areas. “Just a decade ago, the Slovenian economy was indebted to the extent of 40% of GDP. Today, it is indebted to the extent of 20% of GDP,” Lasič noted. “We can use credit for innovation and investment. In the current situation, Slovenian companies have an exceptional opportunity to make good use of the current turbulent times, as they are among the least indebted in Europe. Not just Europe, but even the world.”

He went on to highlight the importance of diversification, pointing out that the Slovenian economy is one of the most diversified in the world, which means it is not dependent on a single industry. Jože Bajuk, a member of the board of Petrol, concurred, stating that diversification is extremely important for large companies such as Petrol, as it does not limit companies territorially in terms of production and operations. Bajuk also emphasized the importance of innovation in applied technologies, saying, “We are a highly innovative company that runs its business efficiently. You can upgrade solutions and processes through purchases and acquisition of people who have come up with findings and innovative solutions. And new technologies coming to the market mean a new opportunity for us.”

As the world continues to grapple with the impact of technological advancements, the importance of innovation in navigating uncertain times has become increasingly clear. This was the focus of a recent round table discussion hosted by the Atlantic Monthly, featuring leaders from the insurance, energy, and banking sectors in Slovenia.

Aljoša Tušek, founder of Tushek Hypercars, noted that while multiple drive technologies will likely remain available, there will not be a definitive displacement of any one technology from the market. He emphasized the unique strengths of his company’s electric drive, which is 30% more efficient and 50% lighter than other electric drives on the market.

Valentin Hajdinjak, President of the board of DARS, highlighted the importance of innovative leadership, emphasizing the company’s focus on investing in employees and upgrading processes through digitalization. DARS has transformed from a highway builder to an active traffic manager, with a focus on ensuring greater traffic flow and safety for drivers.

Maja Krumberger emphasized the importance of a blended approach, noting that “only digital approach and with the help of artificial intelligence is not the right answer.” The round table agreed that demography, with Slovenia having one of the oldest populations in Europe, is a key challenge in the region, and that the right mix of human and digital approaches is crucial for success.

The conclusion was marked by a networking reception, featuring refreshments provided by Mercator and a selection of wines from Kleti Brda.