Despite ongoing uncertainty around sustainability reporting requirements in the European Union, Virši continues to advance its sustainability efforts based on its core values relating to the environment, people, and governance. In 2024, the Company conducted a double materiality assessment to identify the most significant topics, risks, and opportunities influencing its long-term development and impact. Virši remains committed to investing in environmentally friendly solutions, employee development, and responsible governance.
In 2024, the Company made significant progress in the field of sustainability by carrying out a double materiality analysis, which helped to identify strategically important areas and prioritise key actions. This approach enables Virši to align with both regulatory requirements and societal expectations.
“Sustainability at our Company is not just a response to regulatory obligations – it is an integral part of our long-term strategy. We actively invest in sustainable solutions that bring tangible value both to the company and to society as a whole,” emphasised Vita Čirjevska, Member of the Board at Virši.
The development of the company’s sustainability strategy is rooted in Virši`s values and is driven by three strategic pillars: Environment and Climate, Social Responsibility, and Governance.
Environment and Climate
Virši is developing alternative fuel and energy solutions that reduce environmental impact and promote the sustainable consumption of energy resources. As part of its strategic development, the Company places significant emphasis on transport decarbonisation. Currently, compressed natural gas (CNG) is available at 10 of Virši’s stations, and electric charging is offered at 26 locations, where only fully renewable electricity is used. Long-term plans include investments in the development of biomethane, liquefied natural gas (LNG), and hydrogen. At the same time, the Company is taking steps to protect water and soil within its network areas, by minimising the risk of oil product leakage and reducing threats from historically contaminated sites.
Social Responsibility
Virši prioritises the wellbeing of its employees and customers. The Company ensures a safe and stable working environment, with special attention paid to occupational safety, health, and the protection of privacy. Fair remuneration and social protection are also key aspects that contribute to the Company’s sustainable development. Results from employee satisfaction surveys (eNPS) at Virši exceed the industry average, confirming a positive working environment. The Company is regularly recognised as one of the top employers in the country and offers a competitive benefits package.
Governance
High standards of business ethics and governance form the foundation of Virši’s operations. Within the area of governance, adherence to business ethics was identified as the most material sub-topic, encompassing corporate culture as well as measures to prevent and detect corruption. To promote open dialogue and better understand societal expectations, Virši actively engages with its stakeholders. This feedback forms a vital basis for the development of the sustainability strategy and strengthens the Company’s role within the industry. Virši implements and maintains internationally recognised management system certifications, which affirm its compliance with high standards in quality, environment, and safety. The Company actively participates in industry organisations and ensures transparent information disclosure.
To reinforce sustainability governance, in 2024 the Company established a Sustainability Management Team, which – alongside an employee working group – sets short- and medium-term goals and monitors their implementation, ensuring transparency and keeping the public informed of progress. Virši has published its latest Sustainability Report, available on the Company’s website.
About Virši:
Virši is a rapidly growing local energy commodities trader and convenience store network with 30 years of experience. Currently, Virši has 85 sales points, 82 of which are service stations, and employs more than 900 people across Latvia. Since 11 November 2021, the shares of AS VIRŠI-A have been listed on the Nasdaq Riga First North Alternative Market.
Further information:
Undīne Priekule
Communications Manager
Phone: +371 26 141 219
E-mail: undine.priekule@virsi.lv
www.virsi.lv
