By Mariusz Witkun, co-founder of Trebbi Polska
In recent years, ESG has become more than just a popular acronym or a recurring topic in annual reports. It is becoming a real test of governance and organisational maturity. When discussing environmental (E) and social (S) responsibility, it’s easy to focus on visible actions such as energy certificates, green roofs, or photovoltaic panels installed in new developments. Yet it is the ‘G’ governance that determines whether these actions have true meaning and long-term impact. Governance is not an add-on, but the foundation of how a company operates, decides, prioritises, and measures outcomes. Without true value-based management, environmental, and social initiatives remain at the level of declarations.
Since early 2025, the topic of corporate governance has become more visible, especially with new regulations. The so-called Omnibus Package, announced by the European Commission, has simplified certain reporting obligations under the CSRD framework, but at the same time clearly outlined the direction companies should follow. Less bureaucracy, more substance. Fewer declarations, more meaning. ESG should not be a formality. It must offer a clear and honest picture of how the organisation operates. This applies not only to reporting teams, but also to employees, partners, and clients who co-create the company. It’s a challenge for governance boards as well, who must set the tone and rhythm for daily decision-making.
That is why we should not perceive ‘G’ merely as a set of legally compliant procedures. What truly matters is what happens inside the company. Organisational culture, even though difficult to measure, reveals a lot about the values guiding everyday behaviour – not in presentations, but in small decisions, rituals and unwritten norms. Codes of ethics, risk management policies, and decision-making practices only make sense when actively used, not when stored in a ‘compliance’ folder. If teams do not know how to make ethical decisions in practice, then even the best-written regulations remain ineffective.
A useful indicator of whether a company takes its values seriously is whether people can speak up about difficult issues. Do they feel safe reporting irregularities? It’s not about anonymity for its own sake, but about genuine spaces free of retaliation. Although such mechanisms are already a legal requirement, many organisations have yet to implement even the simplest solutions. Where these systems are in place, problems surface earlier, companies can respond in time, and unwanted situations do not escalate into crises. Importantly, this strengthens team ownership, leading to genuine engagement with the organisation’s performance.
Another, slightly more technical, but equally important aspect of governance, is how companies manage supplier relationships. Here too, ESG has overturned traditional models. Price and quality are no longer enough. What matters now is how a supplier treats people, where materials come from, how documentation is handled, and whether ethical standards are truly followed. And it goes both ways. Organisations that expect responsibility must also practice it – such as by paying invoices on time. For small businesses, this can mean the difference between growth and collapse. In the long term, it’s these small, daily decisions that build trust. Many business relationships fail, not because of mistakes, but due to a lack of transparency and reliability. It’s not just about reputation; it’s also about operational stability throughout the value chain.
Discussions around governance increasingly raise the topic of political engagement. Uncomfortable, but necessary. European regulations are clear: companies should communicate how they interact with public administration, what the transparency of these interactions looks like, and who is responsible. A lack of clarity here may become as risky as having no anti-corruption policy. The same applies to sectors involving animal production. Taxonomy guidelines clearly call for policies regarding animal welfare. The point is not to have all the answers immediately, but to ask the right questions, and treat the topic with seriousness.
Responsible governance also means being ready to address abuse and corruption – without sweeping issues under the rug or pretending that ‘it doesn’t concern us’. The sooner these risks are acknowledged, the better. Training clearly communicated policies, and real independence of the teams in charge of response are essential. Internal transparency is now something expected not only by business partners, but also by employees, and potential candidates. Lack of transparency has both financial and reputational costs.
It’s also worth looking at solutions already in place on regulated markets – not to copy them, but to understand their mechanisms. The Good Practices of Companies Listed on the Warsaw Stock Exchange show how governance can be approached both systematically and flexibly. The ‘comply or explain’ principle is not a rigid rulebook, but an invitation to reflect. Admitting gaps is better than pretending they don’t exist. Such denial leads to stagnation, not improvement. And stagnation, dynamic regulatory, and social expectations quickly turn into a real business risk.
Value-based governance is no longer optional, it’s becoming essential. Governance, as the backbone of the ESG approach, requires not only courage and integrity, but also readiness to change everyday habits. More and more companies realise that true responsibility does not begin with strategy, but with mindset, and daily decisions. In a world of constant change, the strongest advantage is the alignment between what we say and what we do, something only good governance can ensure. Ultimately, it all comes down to one thing: trust.
ESG as a concept, has evolved significantly, gaining traction not only for sustainability teams, but also for leadership. In many industries, it has become a benchmark for resilience, strategic foresight and public credibility. Within teams, culture shapes not only formal behaviours but also subtle dynamics: who speaks up in meetings, how feedback is given and whether dilemmas are discussed. These aspects, although rarely included in reports, are critical for building lasting organisational integrity.
In supplier relations, transparency is more than a virtue, it is an operational necessity. Predictable processes, accessible documentation, and equitable treatment of smaller partners all contribute to more stable delivery chains, and fewer disruptions. Trust, once lost, is difficult to rebuild, especially in ecosystems where accountability is increasingly demanded by regulators, investors and clients.
At Trebbi Polska we view governance not simply as compliance, but as a practical framework that strengthens our work across technical due diligence, investment oversight, and project delivery. In a sector where predictability underpins every phase sound governance enables better decisions, safer outcomes, and stronger relationships. It’s not a formality. It’s the foundation we build on.
