The Best Annual Report and Transparency Award (BARTA) ceremony was held today in Tbilisi. BARTA Award Ceremony in partnership with the European Union (EU) and the World Bank (WB) took place at 10:00 am on TV-show Business Morning.
The organizers of the ceremony explain, that the aim of this competition is to increase the quality of reporting and transparency of Georgian companies. Given European and global developments, in particular the steps taken towards the introduction of sustainability reporting, this award has an even more important role to play.
The award ceremony 2021 showcased 18 nominated companies, and was presided over by a distinguished international panel of judges. The selection process was conducted using a robust methodology that emphasized, among other things, the provision of non-financial information which addresses intangible assets such as brand, customer reputation, know-how and goodwill that drive corporate value.
The winners in each of the 7 award nominations announced this year, are as follows:
• Winner Large Financial Institutions – JSC Bank of Georgia
• Honorary Award for Large Financial Institutions - JSC MFO Crystal
• Winner Large Non-Financial Institutions (with 500 or more staff) – JSC Telasi
• Honorary Award for Large Non-Financial Institutions (with 500 or more staff) - JSC Silknet
• Small and Medium Companies (with less than 500 staff) – JSC TBC Leasing
• Honorary Award for Small and Medium Companies (with less than 500 staff) – JSC MFO MBC Capital
• Best Sustainability Report – JSC TBC Bank
"The European Union is very happy to see the family of ‘trusted companies’ in Georgia growing. With a new focus on sustainability, we hope to see even more companies reporting better, more reliable information about sustainability – both in terms of their impact on people and the environment, as well as the impact of possible risks to the company and climate risks. All of this is good for business and investors and Georgia's economic development," said Sigrid Brettel, Head of Cooperation of the European Union Delegation to Georgia.
“I am extremely pleased to see BARTA growing and evolving in-step with global trends and best practices in financial and non-financial reporting. Further improving transparency and boosting the business climate will help Georgia become even more attractive to investors”,- said Sebastian Molineus, World Bank Regional Director for the South Caucasus.
“The transition to a sustainable economy demands that Georgian companies not only comply with current reporting regulations, which were greatly enhanced with the enactment of the Law of Georgia on Accounting, Reporting and Auditing in 2016, but also emulate trends in best reporting practices in the EU and globally. BARTA encourages this and awards those companies showing exemplary reporting,” said Giorgi Tabuashvili, Executive Chairman of RSF.
BARTA was established in 2019 as part of a joint project of financial engagement and accountability between the EU and the World Bank, after the European Union (EU) launched a fundamental review of corporate financial statements.
BARTA 2021 winners Announced
