I look forward to promoting stronger U.S.-Latvia ties and working with AmCham members to ensure Latvia is a trusted destination for international business.
John Tully, Chairman of the Board of MikroTik
On 6 December, Rīga Stradiņš University (RSU) received a special award for growth at the Latvian Sustainable Governance Awards 2023 ceremony at the Bank of Latvia. RSU was praised for its contribution to sustainable governance and growth, as well as for improving corporate governance and ensuring that the University's activities are in line with the defined values. The event honored Latvian companies that have demonstrated excellence in the different award categories and discussed different aspects of sustainable management.
The award was established by the Bank of Latvia and the Corporate Governance Advisory Board. The award aims to strengthen the sustainability of Latvian companies and promote the practical implementation of the Latvian Corporate Governance Code. The award seeks to enhance the efficiency of company operations and foster long-term value growth while providing public recognition to companies with a sustainable governance model.
‘We are pleased that our persistent work in establishing effective governance at the University has been recognised,’ said RSU Rector Prof. Aigars Pētersons. ‘A lot of effort has been invested in our development – we are a leader in higher education export not only in the Baltic States but also in Northern Europe. We have more than ten international student education centres in several countries and modern study programmes, and we are on our way to becoming a high-level research university. This would not have been possible without the work of the RSU Council, Senate, Constitutional Assembly, Student Council and the work of other colleagues.’
‘We can see the positive impact that the RSU Council's presence has had on the university's development and strategic direction. Education, social responsibility, and science are our future – without an educated society, we cannot live in a developed, safe, and prosperous country,’ Kristīne Černaja-Mežmale, a Member of the Council of the Bank of Latvia and the Corporate Governance Advisory Board, said when presenting the award.
The Latvian Sustainable Governance Award was presented in four categories, as well as one special category for growth, which is the award presented to RSU.
Lidl Latvija received the award in the Diversity and Equal Opportunities category, for demonstrating a concern for the well-being of its employees and an inclusive work environment prioritising employees and promoting growth in various ways. The company fosters the creation of a fair working environment, recognising that this approach is key to its success and sustainability.
In the category Strategic Engagement of the Board, the award was presented to the building management company Rīgas namu pārvaldnieks, as its board actively participated in the company's growth by setting ambitious and forward-looking strategic goals. The board has ensured sustainable and thoughtful crisis management and decision communication within the company, as well as systematically paid attention to sustainable development and corporate governance issues.
Kalve Coffee was recognised as the best company in the Responsible Cooperation with Partners category. The company has set sustainability goals and develops collaborations that build sustainable supply chains, thereby contributing to environmental conservation, social responsibility and long-term business sustainability. This approach not only adheres to ethical and environmental principles, but also responds to the growing demand from consumers and investors for more sustainable business practices.
In the Stakeholder Management Practitioner category, water management company Rīgas ūdens received the award for defining its stakeholders and implementing targeted measures to engage them. Despite challenges in the field, the company managed to significantly strengthen relationships with stakeholders, ensuring a good reputation and successful growth in the future.
The award was presented for the third time this year. To adapt to global trends and priorities, the award has been restructured from being the Corporate Governance Award to the Sustainable Governance Award. 28 applications were submitted for this year’s awards, which were assessed by members of the Corporate Governance Advisory Board. The heads of Latvia's largest companies and experts from various sectors who care about good governance and sustainable development attended discussions on aspects of sustainable governance and participate in the awards ceremony.
I would highly recommend membership to other professionals looking to expand their business connections.
Gundars Ziemanis, Latvia branch Country Manager, Siemens Healthineers