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• ESG regulation and what lies behind it - opportunities and challenges in preparing businesses for ESG in Hungary

  Orsolya Szendrey

  Gábor Bányai

  Mihály Dombi

  Judit Futó

  Dávid János Gulyás

  Andrea Karcagi-Kováts

  Piroska Harazin

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  On 12 December 2023, the Parliament adopted the proposal on the rules of corporate social responsibility (CSR) and other related laws to promote sustainable financing and unified corporate responsibility (ESG Act). Companies subject to the Act will gradually have to comply with several qualitative and quantitative requirements, which will pose significant challenges for market players and regulators monitoring their operations. This paper aims to review how the gradual extension of the scope of the Act will affect market and industry players, highlighting the opportunities and challenges for stakeholders in meeting regulatory requirements in environmental, corporate governance and social matters.