ESG Integration in Albanian Business Practices: Adapting EU appoaches to local implementation

ongoing

Sustainability challenges and Environmental, Social, and Governance (ESG) principles have fundamentally changed the way companies define their purpose and operate. Being one of the key actors of the sustainability shift, companies are no longer measured just by their financial success but also by their impact on the environment, their social responsibility, and the way they are governed. The path that companies are following towards sustainability and ESG integration is not only an adaptation to market expectations, but also a response to policy driven requirements. In Europe, the European Union (EU) and institutional bodies, have established regulatory frameworks and strategic policies to push companies to become more sustainable. The sustainability shift is not changing businesses alone, it is also transforming the job market and the way universities prepare the next generation of employees for their careers. Albania is also experiencing this shift, driven both by market demands and its commitment to aligning with EU policies. The main idea of this project is inspired by two of the EU’s 2024-2029 priorities: enhancing the sustainability and competitiveness of the European business sector and supporting and strengthening people by equipping them with the skills necessary for a sustainable future. Addressing sustainability challenges requires a skilled workforce that understands ESG compliance, corporate responsibility, and sustainable finance. Despite ongoing efforts, there is still limited academic focus on sustainability in finance and accounting programs, making it difficult for businesses to recruit professionals who can support their ESG transition. Our initiative is based on the idea that sustainability should not only be an imperative, but also a mindset. The project will focus on students and it will engage academics, businesses, and policymakers, encouraging a multi-stakeholder dialogue to ensure that sustainability education aligns with market needs.