MK Group has released its annual ESG report for 2024 titled “The Power of Trust on a Responsible Path,” which showcases progress in results and confirms goals set for 2026. Guided by ESG principles, the company has established ambitious targets – investments worth 900 million euros in renewable energy projects, achieving 1 GW of installed capacity, and reducing emissions from scope 1 and 2 by 25%. At the same time, MK Group continues to enhance reporting processes and integrate ESG standards across all segments of its business.
“Thanks to the collaborative efforts of all teams within MK Group in 2024, we have more strongly embedded sustainability into our daily business operations. Given our diversified business, we have established a centralized and reliable ESG database, along with significant investments in procedures and organizational frameworks for collecting and analyzing information. ESG principles are becoming strategically important for all companies, not just those operating in the EU but also for those collaborating with European partners. National regulations that ensure compliance with EU standards will be an important step forward and a prerequisite for the competitive advantage of all market participants. It is essential to set a direction, clear guidelines, and a framework that will encourage companies to develop their ESG policies and strengthen responsible business practices,” stated Beata Fridrich, Chair of the ESG Committee at MK Group.
Regarding environmental protection, the company’s four wind farms produced 463 GWh of electricity in 2024, representing a remarkable 107% increase compared to the previous year, thereby avoiding emissions of approximately 300,000 tons of CO2. The company’s solar systems generated over 2.5 GWh of energy from renewable sources, an increase of nearly 94% compared to 2023. The biogas plant delivered 7.1 GWh of electricity to the grid in the second half of the year, marking a 145% increase compared to the previous year. In 2024, MK Group produced 472.63 GWh from renewable sources, while total energy consumption for the year was 115.97 GWh. This means that the company generated four times more energy from renewable sources than it consumed.
MK Group remains a key partner to communities across the region, with a special focus on projects that contribute to social development and the enhancement of education. A significant initiative is the opening of the Miodrag Kostić Endowment – the Palace of Science in Belgrade, which represents one of the largest philanthropic endeavors in the recent history of the region. The regional CSR program “Support for Families” has also continued, which, in addition to monetary donations to employees who have become parents, has donated 350,000 euros for the improvement of student dormitories in Belgrade, Podgorica, Zagreb, and Ljubljana, thereby enhancing living and learning conditions for nearly 6,000 students. Alongside these activities, MK Group consistently implements policies of diversity, equal opportunities, and social inclusion. In 2024, women made up over 50% of the Board of Directors and held 41% of leadership positions, with more than 9,000 hours of training conducted and 650,000 euros invested in employee development.
MK Group’s vision is for ESG to become a natural part of every business process and a foundation for creating lasting value for employees, partners, and the communities in which the company operates. The complete ESG report for 2024 can be viewed at the LINK.