Schneider Electric, recently named the world’s most sustainable company by TIME magazine, has for the first time awarded Bulgarian companies in its global competition for sustainable development – the Schneider Sustainability IMPACT Awards. Two Bulgarian participants, Arexim Engineering – a Smolyan-based manufacturer of high-precision technical plastic components and tooling, and Hotel Sol Marina Palace, Nessebar, have qualified for the European round of the contest. The national awards took place in early April at Hilton Sofia in the presence of Prof. Dr. Georgi Angelov, Deputy Minister of Innovation and Growth; Ms. Mila Nenova, Executive Director of the Bulgarian Investment Agency; and Mr. Nikola Barbutov, Deputy Mayor of Sofia for European Policies, International Affairs, and Tourism. The event was moderated by journalist Boyko Vassilev.
The Sustainability IMPACT Awards is a global initiative launched by Schneider Electric in 2022. This marks the third edition of the program, but the first time Bulgarian companies have been selected to compete at the European level. Twelve global winners from various industries and regions will be announced later this year after the regional rounds conclude. Arexim Engineering and Hotel Sol Marina Palace, Nessebar were recognized at the national level for their sustainability measures.
During the ceremony, Prof. Dr. Georgi Angelov noted that the ministry is focused on multiplying the positive examples of companies like Schneider Electric in the field of sustainability.
“We believe that this kind of business model, based on innovation and responsibility, is the engine of long-term growth in Bulgaria,” he said. Mr. Nikola Barbutov emphasized the need for action and commitment regarding sustainable development and ESG policies. “If we don’t act as businesses and as communities we will fall behind not only economically, but also in terms of quality of life,” he added. Ms. Mila Nenova shared the government’s efforts in supporting new investments in business and industrial sustainability.
“The fact that our winners come from two entirely different sectors of the economy proves that sustainability is relevant and applicable to every business,” said Ivelina Nikolova, General Manager for South Balkans at Schneider Electric. “For us, maintaining an ongoing conversation about sustainability with all stakeholders and especially with businesses is crucial, because embedding modern technological solutions into core processes yields the most visible results. Energy independence, cost control, resource optimization – that’s the sustainable path forward, which in turn creates competitiveness and long-term viability. The technologies that make this path possible are already within our reach,” she added.
The competition’s criteria become increasingly stringent at each level, requiring a comprehensive approach to sustainability from the very beginning. Candidates must not only demonstrate concrete energy management technologies and processes, but also show strategic thinking and company-wide integration of sustainable practices.
The Bulgarian winners shared their individual approaches, including the use of renewable energy, energy monitoring and visualization, employee engagement, and building a company-wide sustainability culture. Both companies agreed that being a sustainable provider of goods or services is becoming a market and client expectation and a strong driver of change.