COBALT Estonia`s Sustainability Report 2023/2024

The 2023/2024 financial year was a success for COBALT’s Estonian office, both internally as well as externally. This also applies to the sustainability aspects of our activities.

Internally, our focus remained on our people, placing their well-being and personal development at the centre of our efforts. We continued our involvement in the Mindful Business Charter, taking the issue of avoiding unnecessary stress and fostering mental health seriously. Recognizing the significant impact that physical spaces have on mental health, a major step in this area was moving back to our renovated offices at Pärnu mnt 15 (Kawe Plaza) in January 2024. The renovation completely transformed the interior design, which has since been commended and featured in several magazines. The ventilation, other technical systems and energy efficiency of the building were also improved. Consequently, the renewed offices both provide additional space for our employees (with the entire 8th floor designed for recreation) and improve the indoor climate while minimizing environmental impacts.

Externally, COBALT continues to provide legal services to many companies and projects aimed at transforming the Estonian economy into a more sustainable model. This includes our legal support to several high-capacity renewable energy and electricity storage projects, financial institutions seeking to enhance their sustainability, Greentech startups etc. Among other issues, we have helped our clients creating ESG-policies that align with current legal and policy trends, clarifying and implementing EU Taxonomy requirements and navigating EU sustainability reporting rules. To keep our clients up to date with the ever-changing regulatory landscape, we launched a new sustainability newsletter.

At the start of 2025, the outlook for ESG might seem bleak, given the ongoing and escalating armed conflicts, trade wars and political backlash. However, as respect for planetary boundaries, ensuring proper treatment of employees, customers and other stakeholders, and good corporate governance are not luxuries, but necessities for modern businesses, we believe that sustainability issues are here to stay in the long run. We at COBALT Estonia are ready to play our part.

Please see the full report from here.