Diplomacy&Trade 2023-08

2023/VIII

Enjoy the Delights of the Festive Season!

INSPIRING OFFERS BY HUNGARIAN HOTELS FOR CHRISTMAS AND THE END OF THE YEAR

SEE COMPILATION ON page 22

Sustainability

industry

FOCUS

Nowadays, the pursuit of sustainability is increasingly important for business actors as identifying their Sustainable Development Goals (SDGs) and integrating them into their strategy is positively valued by their economic partners/ customers. In the lead article of the Sustainability Focus, the sustainability situation in Hungary is discussed by BCSDH President, Attila Chikán, Jr. and the section also features several firms presenting their efforts in this field. see articles on pages 10-17

A Singing Sparrow April next year, the audience in Budapest’s Erkel Theater will witness the Hungarian premiere of ‘PIAF! The Show’ a worldwide success French musical performance about the life and career of Edith Piaf, a French singer best known for performing songs in the cabaret and modern chanson genres. She is widely regarded as France's greatest popular singer and one of the most celebrated performers of the 20th century. see article on page 18

HUF 1710

EUR 6

Happy Holidays!

Wishing you a healthy and prosperous New Year!

ALL THE BEST FOR 2024

DO NOT HESITATE TO CONTACT US!

+36 70 320 3010 consult@dunaelektronika.com

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As we joyously step into the enchanting embrace of the festive season, we are delighted to bring you a glimpse of Budapest adorned in the splendor of end-ofyear decorations. The city's spirit comes alive, and this year, our major hotels are joining in the celebration with an array of Christmas offerings that promise to elevate your holiday experience.

The focus topic in the current issue is sustainability. Heeding the call of this matter that refers to the ability to meet the current needs of society without compromising the future has now become a necessity in many areas of business as such an effort is positively valued by economic partners and customers. As you can learn from a Hungarian central bank official, a Swiss environmentalist and others in the compilation, there is growing interest in sustainability in the business sector as well but there is still a lot to do. And a lot is already being done as demonstrated by the actions taken by Hungarian firms that present their efforts in this issue.

Our international analyst takes a look at the bleak prospects of the Conservative Party in the United Kingdom. While the Tories were hoping Rishi Sunak could improve the party’s image and chances as prime minister, the polls seem to like Sir Keir Starmer to head the new government after the next elections, despite his being one of the most undistinctive Labour leaders.

The WittyLeaks column is authored by the Ambassador of Malaysia who shares his experience with the readers after his return from the Hungarian countryside with good vibes and memories. He spent a day outing with farmer Sándor and his wife, Aranka who introduced him to their life and work in the farm – a rural experience that evoked some memories from the surroundings of his own hometown back in Malaysia.

To our readers, contributors, and the entire diplomatic and business community, I extend my warmest wishes for a New Year brimming with prosperity, good health, and moments of profound happiness and above all peace. May 2024 be a year of growth, unity, and new possibilities.

Thank you for being a part of our story. Here's to a splendid conclusion to 2023 and the exciting adventures that await us in the editions of 2024.

With sincere appreciation and anticipation,

Peter Freed PUBLISHER

Ambassador visits the Hungarian countryside

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Event guide to the Hungarian capital

AND DON’T FORGET

www.dteurope.com

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contents 05 ON THE RECORD 06-07 COMPANY BRIEFS 08 ANALYSIS

monthly in print - daily on the web

Labour Party likely to regain power in upcoming UK elections

Declining popularity of the Tory party in the UK 10-17 SUSTAINABILITY FOCUS Interview with BCSDH President Attila Chikán, Jr.; National Bank of Hungary; Swiss explorer Dr. Bertrand Piccard; E.ON; Spar; Progressive

18 CULTURE

PIAF! The Show coming to Budapest

20 WITTYLEAKS

by the Ambassador of Malaysia 22 CHRISTMAS Offers in the festive season 23 WHAT’S ON Concerts, festivals, events and exhibitions in and out of Budapest

PUBLISHER: Peter Freed PHOTO EDITOR: Dávid Harangozó SALES & MARKETING DIRECTOR: Tamás Varga ADMINISTRATION: Blanka Szalontai CONTRIBUTORS: Sándor Laczkó, Tamás Magyarics, Francisco Munis PHOTO CONTRIBUTORS: depositphotos.com (cover), Koncertpromo.hu (cover), Diplomatic Spouses of Budapest Facebook, ahkungarn.hu, depositphotos.com, Genesys Hungary Facebook, Audi Hungaria, ceglass.eu, UK Parliament/Wikipedia, Z. László Nagy, MNB, E.ON, Bence Kovács, Zsolt Molnár, SPAR, Koncertpromo.hu, Embassy of Malaysia, Four Seasons Hotel Gresham Palace Budapest, Kempinski Hotel Corvinus Budapest, Matild Palace, a Luxury Collection Hotel, Budapest, LUA Resort Balatonfüred, Dorothea Hotel, Budapest, Autograph Collection, László Mihály, Live Nation, M. Nishada, Michelle Hayward, MTI Photos: Szilárd Koszticsák, Noémi Bruzák, Péter Komka, Zoltán Máthé, Lajos Soós

Copyright 2004-2023 DUAX Kft., all rights reserved | ISSN 1589-8075 This magazine is produced by DUAX Kft. The opinions published in the magazine do not necessarily reflect the opinions of DUAX Kft.

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SPANISH FOCUS – COMING SOON

In its next edition, Diplomacy & Trade is to publish a special Focus section on Spain that holds the rotating presidency of the European Union in the second half of this year with the motto of ‘Europe, closer’. Economic relations between Spain and Hungary are well characterized by the good number of Spanish companies present in Hungary in different areas, mostly in the automotive, agricultural, fashion and hospitality sectors and the picture is similar in the cultural field where Spaniards are important contributors to the Hungarian cultural scene. All these topics and more will be discussed in an extensive interview with the Ambassador of the Kingdom of Spain in Budapest, Alfonso Dastis. In addition, we present the activities of Spanish companies with important role in Hungarian-Spanish business relations.

We welcome inquires for advertising in this issue.

PLEASE CALL TAMÁS VARGA FOR FURTHER INFORMATION +36 209 350 250 - tvarga@budapestweek.com 2 0 2 3 / V III

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photo by EMBASSY OF MALAYSIA, LIVE NATION, UK PARLIAMENT/WIKIPEDIA, DEPOSITPHOTOS.COM

letter from the publisher

on the record

VÖRÖSMARTY CLASSIC CHRISTMAS

Until the dawn of the New Year, the Christmas Market is again open to everyone in one of the most beautiful locations of Budapest, in downtown Vörösmarty Square. That is where organizers invited people to celebrate the most beautiful holiday of the year under the name 'Vörösmarty Classic Xmas'.

The Vörösmarty statue in the center of the square is covered in a transparent ‘snow globe’, and a led wall has been built around the statue, which also serves as a multimedia information point: in addition to the information content, visitors are also able to participate in a community game that can be activated by a QR code.

UPCOMING NATIONAL DAYS 1 January 26 6 February 15 16 23 24 25 28

Cuba Australia New Zealand Serbia Lithuania Japan Estonia Kuwait Egypt

National Day National Day National Day National Day National Day National Day National Day National Day Independence Day

photo by SZILÁRD KOSZTICSÁK/MTI, NOÉMI BRUZÁK/MTI, DÁVID HARANGOZÓ, DIPLOMATIC SPOUSES OF BUDAPEST FACEBOOK, DEPOSITPHOTOS.COM, AHKUNGARN.HU

2023 HUNGARIAN NOBEL LAUREATES RECEIVE PRIZE IN STOCKHOLM The two Hungarian scientists awarded the Nobel Prize this year, Katalin Karikó and Ferenc Krausz, received their prizes at a ceremony at the Royal Swedish Academy of Sciences in the Swedish capital, Stockholm on December 10, on the anniversary of the death of Alfred Nobel, the founder of the prize.

Hungarian-American biochemist Katalin Karikó shares the 2023 Nobel Prize in Physiology or Medicine with American physicianscientist Drew Weissman for their discoveries concerning nucleoside base modifications that enabled the development of effective mRNA vaccines against COVID-19.

Hungarian-born experimental physicist Ferenc Krausz, who has been the Director of the Max Planck Institute of Optics in Germany, shares the 2023 Nobel Prize in Physics with French scientists Pierre Agostini and Anne L’Huillier for experimental methods that generate attosecond pulses of light for the study of electron dynamics in matter.

In order to honor the Hungarian Nobel laureates, the Municipality of Budapest illuminated the Chain Bridge in the city with Hungarian colors.

The organizers have called attention to the Crystal Palace also featuring a giant Christmas tree and a free train, which allows families to see the festive decorations of the Lion's Fountain up close. Visitors can also enjoy light installations featuring Alice in Wonderland characters.

The gastronomic exhibitors of the Vörösmarty Classic Xmas offer the public traditional Hungarian food and drink, culture dishes related to the Christmas holiday. This year, the organizers have again ensured that everyone can choose the food and drink that suits their budget, there is also a wine-pairing menu, and one dish per day is available at each large kitchen, which visitors can buy at a fixed price.

Handicraft exhibitors selected their traditional handicraft products in the spirit of preserving tradition, but there was also a craft house as an educational venue where interested children could take part in weekend workshops.

In addition to the exhibitors, the organizers also provided supporting space for the Heim Pál Children's Hospital.

At the Christmas market, craftsmen and exhibitors will be present until December 28, after which preparations will take place for what organizers promise to be a fantastic New Year's Eve party looking forward to the New Year.

DIPLOMATIC FAIR TO RAISE MONEY FOR CHARITY BUDAPEST CELEBRATES 150TH BIRTHDAY Today's Budapest was created on November 17, 1873. On January 1, 1873, Pest, Buda and Óbuda were united under the name of Budapest. It was on November 17 of that year that the new municipality took over the administration of the unified capital.

On January 1, 1950, the municipalities around Budapest were annexed to form the so-called Greater Budapest, the population of which almost reached 2.1 million in the 1980s.

To mark the 150th anniversary, a varied program of events, including a party tram, performances, concerts and an open-air exhibition, were organized in the capital.

One of these was a gala assembly held on the 150th anniversary by the Municipality of Budapest at the Hungarian Academy of Sciences. The event included the presentation of the Awards for Budapest, the Pro Urbe Budapest Awards and the Citizen of Budapest Awards. The anniversary day's events closed with a gala evening at the Vígszínház theater. w w w . d t e u r o p e . c o m

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A fundraiser for needy families and children with autism, among others, was held at this year's Diplomatic Fair at the Bálna Defense Center in Budapest.

All proceeds from the 12th Diplomatic Charity Fair will be donated to the Together for Autistic People Foundation, the Magic Lamp Foundation and the SOS Children's Villages by the Budapest Diplomatic Spouses' Association (DSB), the organizer of the event.

As in previous years, diplomatic missions from more than 30 countries have joined forces to present traditional products and local flavors typical of their countries.

Visitors were welcomed with themed stands, special souvenirs and handicrafts, gastronomic specialties and local products typical of the region. They were able to watch cultural performances by the participating embassies, and there was also a raffle to win valuable prizes.

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FORBES LISTS THE MOST VALUABLE HUNGARIAN COMPANIES The Hungarian Forbes magazine has again compiled this year a list of the 100 most valuable Hungarian-owned companies, with MPF Holding, Docler Holding and Bonafarm Group ranked in the top three.

MPF Holding, which is mainly known for its machine parts, industrial components, grinding tools and cooling and heating equipment, was valued at HUF 408.3 billion. Last year, Zsolt Felcsuti's company inaugurated the most modern radiator and cutting basket factories in Central Europe, and plans to build a heat pump factory – all from own resources.

The second-placed Docler Holding is owned by György Gattyán, with an estimated value of HUF 361.2 billion. Based in Luxembourg and Budapest, Docler is mainly active in streaming services, IT and sports.

Sándor Csányi's agricultural empire, the Bonafarm Group, came third with an estimated value of HUF 320.4 billion. The company's profile includes livestock farming, meat and dairy products, animal feed and wine.

GERMAN-HUNGARIAN CHAMBER: 2023 FALL BUSINESS SURVEY Businesses are not very optimistic about their prospects, which is also reflected in the fact that they are cutting back on their investment and employment plans, President of the German-Hungarian Chamber of Industry and Commerce (DUIHK), András Sávos, said at the presentation of the body's 2023 fall business survey.

In the DUIK's survey, 209 companies reported on their economic outlook, their own development, the risks affecting their companies, the labor market and investment.

Dirk Wölfer, Head of Communications at DUIHK and author of the study, highlighted that "according to the fall survey, one in two companies expects the general economic situation to deteriorate further, and only 12% of respondents expect an improvement in the next year.”

According to the survey, 40% of companies consider their own business situation to be good, while one in ten companies reported a poor business situation.

Dirk Wölfer said that firms' own business expectations have weakened compared to the spring survey. 18% of respondents expect their business expectations to improve, 34% expect them to worsen.

The subdued business expectations are also reflected in investment and employment intentions, with 37% of respondents saying they would reduce investment spending and 25% saying they would increase it.

According to the DUIHK fall survey, employment plans are subdued, with the balance of positive and negative responses around zero for the first time since 2013, meaning that the number of companies planning to hire more staff is roughly the same as the number planning to cut staff.

The survey found that firms cited weakening demand, a shortage of skilled labor and rising labor costs as risks to their own businesses.

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­company briefs

GENESYS OPENS NEW R&D CENTER IN BUDAPEST Tthe CEO of Genesys Hungary, Attila Vassy described the opening of the R&D center as an important milestone for both the Hungarian and the parent company. The Hungarian team will play a key role in the development of the company's experience management platform (Genesys Cloud CX) based on artificial intelligence and this will be further strengthened in the future, he said.

According to the company's statement, the user base of the cloud communications platform, which is revolutionizing the customer experience, ranges from financial services to retail, healthcare and the public sector.

In the past two and a half years, Genesys has more than tripled its team in Hungary to nearly 200 people and plans to grow further in the future.

BOSCH TO BUILD NEW LOGISTICS CENTER AT ITS MAKLÁR FACTORY The construction of a new logistics center will conclude a multi-year development series worth around HUF 52 billion at the Bosch plant in Maklár, NE Hungary according to Michael Zink, the managing director of the Maklár plant of Robert Bosch Automotive Steering Ltd., a manufacturer of

steering gears for passenger cars and trucks. He added at a press tour and presentation to mark the 20th anniversary of the company that the development, which will consolidate and make more efficient the logistics services currently leased, was scheduled to be handed over this year, but due to unfavorable market conditions and increased costs of the project, construction is expected to be completed by the end of 2024.

Although the new building was originally intended to be the logistics center of the factory, it can also be converted into a production hall, which includes the possibility of future capacity expansion at the Maklár site.

The 70,000-square-meter Bosch plant in Maklár, a leading company and one of the largest employers in the region, plays an important role not only in the production of new-generation electric steering gears, but also in the development of steering columns and axles. Around 6.5 million products and parts are manufactured every year, meaning that on average a product rolls off the production line every three seconds, he said.

According to the manager, the company's two sites in Maklár and nearby Eger produce steering systems for more than 50 vehicle manufacturers, including premium and electric car brands – cars and trucks. In addition, 40 engineers work here with the world's leading commercial vehicle manufacturers to develop steering shafts and columns for buses and trucks, and the team is also responsible for prototype production, he added.

Michael Zink also said that Robert Bosch Automotive Steering Ltd. currently employs around 1,700 people and is constantly expanding. According to a press release distributed at the event, the company achieved a turnover of HUF 295 billion in 2022, 37% more than the previous year. The company spent HUF 8.6 billion on research and development last year, 10% more than in 2021.

EC APPROVES COMMERCIALISATION OF RICHTER PREPARATION The Hungarian pharmaceutical company Gedeon Richter Plc. has announced – together with Sumitomo Pharma America, Inc. and Sumitomo Pharma Switzerland, GmbH –on the website of the Budapest Stock Exchange that the European Commission has granted approval of a Type II Variation application for RYEQO® (relugolix 40 mg, estradiol 1.0 mg, and norethisterone acetate 0.5 mg) for the symptomatic treatment of endometriosis in women with a history of previous medical or surgical treatment for their endometriosis.

This decision followed a positive opinion from the Committee for Medicinal Products for Human Use (‘CHMP’) of the European Medicines Agency (‘EMA’) on September 15, 2023 and is applicable for all Member States in the European Union.

RYEQO® was initially approved by the EMA in July 2021 for the treatment of moderate-to-severe symptoms of uterine fibroids in adult women of reproductive age.

“We are delighted that this approval has opened the way to offer a viable symptomatic treatment option for many women living with endometriosis,” Dr. Peter Turek, Global Head of Women's Health at Gedeon Richter, said. “As we aim to become a leading pharmaceutical company in the field of women’s healthcare, a sustained broadening of the therapeutic reach of our core innovative products is of utmost importance for us,” he added.

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As Adele Gulfo, Chief Executive Officer, Biopharma Commercial Unit at Sumitomo Pharma America, highlighted, “approximately 14 million women in the European Union are living with endometriosis, a chronic condition whose painful symptoms can impact a woman’s ability to engage in certain daily activities. We are pleased that as a result of this decision, women in the EU living with endometriosis now have another safe and effective symptomatic treatment option.”

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30-YEAR-OLD AUDI HUNGARIA STARTS PPE MOTOR PRODUCTION The series production of the new generation of electric motors for the Premium Platform Electric (PPE), which will debut in the Audi Q6 e-tron model series, was officially launched this November at Audi Hungaria's 30th anniversary event in Győr, NW Hungary.

As a result of an investment of EUR 190.2 million, a completely new 15,000-square-meter production area for PPE drives has been built in an existing production hall, where 700 employees in three shifts produce around 2,000 electric drives for the PPE platform every day, the company said in a statement.

"Győr is the perfect location for the production of even more compact and efficient PPE electric motors," Gernot Döllner, Chairman of the Board of Management of AUDI AG, pointed out.

"With its highly skilled team, the company has already produced more than 400,000 electric drives since 2018, an invaluable experience," he added. In addition to the PPE drives for the Audi Q6 e-tron model series, Audi Hungaria is also producing electric drives for the Audi Q8 e-tron and is building a new production unit for the Volkswagen Group's cars based on the MEBeco platform (modular electric drive concept).

"The start of production of the PPE engines in Győr is an important milestone in the ramp-up of the Audi Q6 e-tron," according to Gerd Walker, Member of the Board of Management of AUDI AG responsible for Production and Logistics and Chairman of the Supervisory Board of Audi Hungaria. "I know from my own experience how committed and enthusiastic the team in Győr is, who are consistently working on the transition to e-mobility for the world's largest engine manufacturer. Audi Hungaria's vast experience in engine production and its carbon neutral balance sheet make it an indispensable part of Audi's global production network," Gerd Walker, who was Member of the Board of Management of Audi Hungaria responsible for Vehicle Production from 2012 to 2016, added.

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photo by GENESYS HUNGARY FACEBOOK, PÉTER KOMKA/MTI, DEPOSITPHOTOS.COM, AUDI HUNGARIA

Genesys, one of the world's leading artificial intelligencebased global cloud service providers, has opened a new research and development (R&D) center in Budapest, on a 3,000-square-meter site in Eiffel Square.

The opening of the new R&D center in Budapest demonstrates Genesys' commitment to the Hungarian market and its highly skilled engineering talent, Genesys' CEO Tony Bates said.

Genesys Hungary is the company's second European R&D center after the one in Ireland.

The US-based global company entered the Hungarian market in 2021 and established its Hungarian headquarters after acquiring Hungarian startup LogMein's Bold360 customer service and communications platform.

­company briefs TDK DEVELOPS ITS SZOMBATHELY PLANT

Japanese-owned TDK Hungary Components Ltd. installs a new solar and heat pump system in the value of HUF 3.4 billion, which essentially enables the company to disconnect from the natural gas grid. The investment will be implemented from the company’s own funds and the incentives available under the Hungarian government’s

AMERICAN AUTOMOTIVE SUPPLIER INVESTMENT IN OROSZLÁNY

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equipment and build a system to monitor the company's infrastructure. The investment will also include the construction of energy storage capacity for the solar systems.

The investments covered by the aid will be completed by March 2025 at the latest and will contribute significantly to reducing TDK Hungary Components’ exposure to energy prices.

Thanks to the investment, TDK Szombathely will become almost completely gas-independent.

The company will also contribute to securing the energy supply of the population.

glass gripping cranes capable of lifting up to 350 kilograms of 2,800x5,000 mm glass. Internal production logistics are supported by new forklift trucks and a flexible, 562.5-ton capacity glass storage racking system, which can be easily organized according to requirements, as well as a radio frequency identification system.

As part of the investment, the plant's IT system was upgraded and the use of renewable energy was expanded. According to a company statement, the market in Hungary and abroad for architectural flat glass is increasingly demanding products with more complex technical content

and unique designs, and glass is being used in more and more versatile solutions. As a result of this development, the company is able to produce, tempered heat-treated safety glass in high quality, quickly and accurately, in line with specific requests. The aesthetic role of glass is becoming more important, as it gives an elegant and modern look to the space and different visual effects can be achieved with different types of glass. In addition to thermal insulation, light and sound insulation are also increasingly being highlighted as important parameters.

CE GLASS PLC. IMPROVES ITS PRODUCTION CAPACITY CE Glass Plc., a manufacturer of insulating and safety glass, has upgraded its production capacity at its plant in Szatymaz, on the outskirts of Szeged, SE Hungary, with the help of EU funding and an investment of HUF half a billion. Implemented with a conditional non-refundable grant of around HUF 352 million, the project is aimed at increasing production efficiency and adapting to changing market needs.

As part of the investment, a state-of-the-art vertical grinding machine for the production of polished edge-ground and corner-rounded glass structures was installed. The automated feeding of jumbo glass, and thus the efficient operation of the cutting tables, is ensured by the new feeding system, which is supported by pneumatic

LIDL TO USE SUSTAINABLE TRANSPORT VEHICLES In line with its commitment to sustainability and climate protection, the store chain is starting to transform its fleet with four electric and six LNG vehicles in Hungary. This also means that Lidl has the largest fleet of alternative propulsion vehicles for in-store delivery of goods among the domestic grocery chains.

For Lidl, as a responsible company, sustainable operations are one of the most important objectives to create a livable future, while at the same time being aware that the transport of goods has a significant impact on the environment. Therefore, in line with the "avoid, then reduce and, if not possible, compensate"

photo by ZOLTÁN MÁTHÉ/MTI, LAJOS SOÓS/MTI, DEPOSITPHOTOS.COM, CEGLASS.EU

Thanks to a EUR 59.6 million investment, BorgWarner takes its Hungarian operation to the next level in Oroszlány, west of Budapest.

The American automotive supplier will add new products to its portfolio to serve demand in the hybrid and electric drivetrain segment.

According to a government decision, over a fifth of the investment costs of the project, which promises to create 60 new jobs, are provided as state subsidy.

BorgWarner is an American automotive corporation with a tradition of nearly 100 years that has presence in 19 countries across the world, including Hungary. The site of the Hungarian subsidiary in Oroszlány that has been functioning since 2000 will now be extended thanks to this new investment.

As a result, the company can start manufacturing new products for hybrid and electric vehicles on top of the currently produced turbo chargers. The new machinery is scheduled to be installed in early 2024, the Hungarian Investment Promotion Agency Diplomacy-n-Trade.ai 1 2017. 02. 27. 11:22:30 (HIPA) reports.

Factory Rescue Program. TDK Hungary Components Ltd. is a member of the leading electronics concern, Tokyo-based TDK, and it is also deemed as its most significant European hub for development and manufacturing. The Hungarian subsidiary that functions in Szombathely, W Hungary, develops and produces electronics parts not only in automotive but also in the field of consumer electronics, among others.

The amount invested now will be used to expand its use of renewable energy (solar panel system), install more energy-efficient air handling

approach set out in its climate strategy, the discount chain has put new alternative-fueled trucks into daily service. As a result, three electric trucks of 18 tons, one electric truck of 40 tons and six LNG trucks of 40 tons are now making daily deliveries. The 18-ton electric trucks deliver from the company's logistics center in Ecseri Road to Lidl stores elsewhere in Budapest, while the electric tractor-trailer trucks deliver to stores in Budapest and Pest County. The LNG trucks mainly deliver fresh goods from the warehouse in Törökszentmiklós to Lidl stores across the country. The new e-trucks are charged with 100% renewable electricity.

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analysis

ANOTHER TAMWORTH MOMENT FOR THE TORIES? LABOUR PARTY LIKELY TO REGAIN POWER IN UPCOMING UK ELECTIONS

Prime Minister Rishi Sunak decided on a major cabinet reshuffle in November – arguably the last one before the general elections next year, or on January 28, 2025 at the latest. The shift is towards less ideologically committed, and a more pragmatic, centrist policies during the last few months of the current Conservative government. In fact, given Labour’s 18-point lead over the Tories, the upcoming election may as well be a repeat of the one in 1997 when John Major’s party got a drubbing at the hands of the Labour Party led by Tony Blair.

Decline of the Tories A general election calculus predicts a 232seat strong Labour majority; the worstcase scenario for the Tories is a mere 48-seat parliamentary group, and the bestcase scenario is a 247-seat Conservative representation in the House of Commons; true, on the other side, the best-case scenario for the Labour is an overwhelming 534-majority in a Lower House of altogether 650 seats.

Sir Keir Starmer is on his way to ’kiss hands’ after the elections, despite his being one of the most undistinctive Labour leaders – and there have been quite a number of them.

However, he seems to be at the right place, at the right time: the Conservatives have been keeping shooting themselves in the foot since they won a comfortable 80-seat majority in 2019. Since then, Rishi Sunak is the third Prime Minister, after both his predecessors had to leave ignominiously; and it is only the aficionados of British politics

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who are able to keep track of the various cabinet members, the diverse groupings and platforms within the Conservative Party. Its decline was shown in black and white in the latest six by-elections in seats holding by them, of which they lost five, including such ones as Tamworth where they won by 20,000 votes last time. The constituency historically has a special relevance to the party: it was here that Robert Peel had issued his famous manifesto in 1834 that was considered to be the beginning of modern Toryism in the 19th century. Alas, if Sir Keir Harding is not ’the best and brightest’, the Conservative Party is also lacking politicians of the caliber of Sir Robert Peel or, for that matter, Margaret Thatcher to give a more recent example.

Cabinet shake-up The latest cabinet shake-up was triggered by Home Secretary Suella Braverman’s article in The Times on November 8, in which she criticized the Scotland Yard for double standard in favor of the pro-Palestine demonstrators in the wake of the Hamas attack on October 7.

She also urged stricter rules for immigrants; in general, she is one of the ’strongmen’ of the Tory Right. Her ousting may be due to Mr. Sunak’s idea that his party should have better chances if it moves to the center. Bringing in Baron Cameron of Chipping Norton into the cabinet as Foreign Secretary may be regarded as a step in this direction, while the ’good [Tory] soldier’ James Cleverly was moved to fill in Ms. Braverman’s vacated position.

The other changes in the cabinet and subcabinet posts also seem to strengthen this strategy, which may mean, coincidentally,

giving up the Red Wall constituencies in the Midlands and the North: i. e., former Labour safe seats which went over to the Conservatives and the Brexiteers in the past few years. However, these gains are balanced

by Labour wins in the Blue Wall (i.e., safe Tory) seats in the South; overall, a major party realignment may be shaping up.

Immigration or economy?

Mr. Sunak has pledged itself to pursue tough immigration policies, and to find ways to bypass the Supreme Court ruling that banned the so-called refoulment to Rwanda. The question of the deportation of illegal migrants to Rwanda has broader implications as well: if the U.K. decides to withdraw from the European Human Rights Convention (under which the deportation is illegal), as some on the Right of the Tory Party recommend, that would affect the Good Friday Agreement as the 1998 treaty incorporates the convention.

Observers are skeptical that putting immigration into the center of Tory policies would be a winning issue in the elections when most people are worried about the state of the economy and the rather deplorable position of the NHS (the Tory Achilles heel). In reality, Rishi Sunak has brought down inflation to 4.6%, and Chancellor Jeremy Hunt promised a 2% cut of national insurance in his autumn statement, but these measures do not seem to convince the majority of the voters.

Likely win in Scotland, too It therefore seems that the Labour Party is on the course of winning the next parliamentary election if it did not make a huge mistake – 2 0 2 3 / VIII

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and Sir Keir Starmer is not known for bold moves. The political scenario in Scotland is also playing into the hands of the Labour Party. Humza Yousaf, who succeeded Nicola Sturgeon, who resigned abruptly when a financial scandal broke out in her family and party, is not, at least for the time being, who inspires enthusiasm among the SNP followers. The Labour Party, currently having 22 seats out of 129 in Holyrood, is now polling some 30%, and is very likely to increase its seats for Westminster in Scotland too.

Regretting Brexit Although Brexit is a done deal, David Cameron wants the U.K. a ’friend, neighbor, and partner’ with the European Union. The Tory Right fear that the pro-EU Cameron may reignite the Brexit debate, which may be another albatross on the shoulder of the Conservative and Unionist Party as the majority of people regret leaving the EU right now. The general view is that Rishi Sunak’s months as Prime Minister are numbered – and possibly together with his days as the Leader of the Conservative Party. An electoral defeat on a large scale will most likely seal the fate of Mr. Sunak as the Tory leader, and there are signs that some politicians, including Suella Braverman or Penny Mordaunt, who is currently the Leader of the House of Commons, will throw in their hats for the leadership contest after the elections.

Personal changes on the top are not likely to be enough for the Conservative Party to remain competitive: it should renew as it did in the past several times, among others, in 1834.

Tamás Magyarics is a foreign policy analyst

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photo by UK PARLIAMENT/WIKIPEDIA

BY TAMÁS MAGYARICS

TAKENAKA EUROPE GmbH HUNGARY BRANCH OFFICE Architecture / Engineering / Construction www.takenaka.eu info@takenaka.hu

ASPIRING TO FINE FORM

for a future generation

THERE IS NO BUSINESS WITHOUT NATURE BCSDH HAS A RECOMMENDATION ON A COMPLEX UNDERSTANDING OF CORPORATE SUSTAINABILITY

The Business Council for Sustainable Development in Hungary (BCSDH) is a coalition of forward-thinking CEOs of over 140 leading companies that account for around 40% of the Hungarian GDP, working together to accelerate the system transformations necessary for a climateneutral, nature-positive and fairer future. As a partner of the World Business Council for Sustainable Development (WBCSD), BCSDH aims to generate changes in models and business solutions in Hungary that have a real impact on climate change and can generate real responses to domestic challenges due to their take-up by other companies.

Diplomacy&Trade asked BCSDH President Attila Chikán, Jr. to share his thoughts about the major issues of sustainability.

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According to a 1987 UN document, sustainable development is a process that "meets the needs of the present without compromising the ability of future generations to meet their own needs." Whether he believes this description is accurate almost half a century later, or he would you define ‘sustainable development’ differently, the BCSDH President says “in essence, yes. In our vision, we say that the goal is to create a world where more than nine billion people are all living well and within planetary boundaries, by 2050. And the focus here is on the well-being and platenary boundaries. We are already using 1.75 Earth equivalent of resources to sustain our current way of life, and ecosystems are failing to keep pace with our needs, 2 0 2 3 / VII I

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threatening our food security, biodiversity and health for the foreseeable future, as well as exacerbating climate emergency and social inequalities. It is fair to say that we are not doing very well, because while 30% less material would be enough to meet real societal needs, our economy is still on an upward trajectory in material use. If we were content with just enough, the negative trends could still be stopped or even reversed and we could create this enough well-being for our children.”

Growing interest in sustainability The Business Council for Sustainable Development in Hungary was founded in 2007. As to how much the concept and practice of sustainability itself have changed in Hungary over the last decade and a half, Attila Chikán, Jr. states that the growing interest in sustainability in the business sector is shown by the fact that while there were 15 founders at the beginning, today, BCSDH has more than 140 member companies, which produce 40% of the country’s GDP, i.e. a significant share of the Hungarian economy. While at its inception, only a few companies and their managers thought that this concept went beyond CSR activities and environmental protection when they created the BCSDH's executive recommendation on a complex

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photo by DÁVID HARANGOZÓ, Z. LÁSZLÓ NAGY, DEPOSITPHOTOS.COM

sustainability

sustainability several related to so-called Social Indicators, such as employee well-being, health and safety, transparency and ethical operations.

There is also a growing number of business solutions by our member companies, solutions that have a significant positive impact on local communities, disadvantaged people or people with disabilities.”

understanding of corporate sustainability, “today, 73% of leading companies want to become carbon neutral by 2050, and our Environmental, Social and Governance (ESG) survey this year showed that 85% of them are already collecting some ESG data and 60% are reporting. They are beginning to understand the implications of this for their business and where they need to act.”

Social Indicators Although people generally use the term ‘sustainable development’ to mean addressing environmental problems, it also includes taking account social issues. According to the BCSDH President, the business sector has recognized that among the increasingly pressing challenges of our world, where immediate action is needed, there are dramatically growing social inequalities, alongside climate emergency, rapid biodiversity decline. For domestic companies, too, their responsibility towards their communities and the wider world became clear during the pandemic.

“Our ESG survey also revealed that among the most important areas of data collection are

One of the key elements of the drive for sustainable development is to help the transition to a circular economy. Regarding the progress of this much-needed model change in Hungary nowadays, Attila Chikán Jr. notes that the circular economy is key to de-risking investments and meeting climate and biodiversity targets.

“However, we are not doing well. The circular index of global material use is getting worse. Here at home, there are high expectations among companies due to changes in government incentives and the regulatory environment, according to our Circular Economy Survey. A real paradigm shift is still a long way off, with the most popular activities among responding companies still being the easiest to implement ‘low-hanging fruit’, such as consumer education, selective waste collection or circularity in procurement. More complex circular economy models are still negligible.”

SOURCE, BCSDH ESG SURVEY, 2023

SOURCE, BCSDH ESG SURVEY, 2023

Circular economy

Gaining competitive advantage

In many cases, the costs of protecting the environment and moving to sustainable management can be a cause for alarm for decision-makers at businesses. Today, however, most companies recognize that the first to move towards sustainability can gain a competitive advantage. “Most sustainable solutions lead to significant cost reductions and savings, which, together with higher energy prices, for example,

can lead to predictable profits. But changes in international regulations, the CSRD or even the German supply chain act mean that those who do not make such investments are excluded from certain markets and lose out on investor money. 90% of companies believe that they could benefit from ESG-based reporting in the next five years,” the BCSDH President points out.

An ‘ultima ratio’ answer to the costs of protecting the environment and moving to sustainable management issue could be the title of this year's BCSDH publication, "There is no business without nature."

Attila Chikán, Jr. is of the view that dramatic biodiversity loss has become a business risk – a bigger problem faster than climate change.

“There is no business that is not dependent on and impacted by nature. Business leaders have a key responsibility and opportunity to make positive changes in this area too.”

BCSDH for better action Comparing the Hungarian situation in terms of the drive/transition to sustainable management to the surrounding countries, and in particular the EU Member States, he adds that “for too long, we thought that we were in a good position, but today, we are seeing, for example, water-related problems, desertification and signs of extreme weather.

The figures for Hungary are not good. For example, there is a measure that shows what percentage of the country's land area is covered by artificial cover: this has increased by 12% between 2009 and 2018, which is exactly the opposite of our ambition. A lot has been – and is being – done in Hungary, companies are committed to sustainability and circular economy, but this much action is not enough. BCSDH can help a lot to show how to start taking better action.”

SOURCE: SECOND REPORT ABOUT THE CIRCULAR ECONOMY IN HUNGARY, BCSDH 2023

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ENCOURAGING GREEN FINANCES NATIONAL BANK COMMITTED TO SUSTAINABILITY AT CORPORATE AND INDIVIDUAL LEVEL

The National Bank of Hungary was one of the first among central banks and domestic financial institutions to produce a Climate Change Finance (TCFD) report. The aim of the document published two years ago is to identify, measure and transparently disclose the climate risks associated with MNB's operational activities and the financial assets on its balance sheet in the broadest possible way, thereby providing guidance to the domestic financial sector stakeholders.

“In the short term, mainly due to data availability constraints, MNB produces a report that is representative, but not exhaustive, of its total asset base. The analysis covers a very wide range of assets, which is outstanding by international standards. As regards foreign exchange reserves, the focus of the analysis is on sovereign exposures, which make up the core of the reserve base.

In the case of monetary policy instruments, the analysis covers not only sovereign but also mortgage bonds and corporate exposures. MNB has analyzed the climate risk exposure of financial asset portfolios according to the two main climate change-related categories, namely transition and physical risks, broken down by portfolios.

MNB will publish the report annually, with the 3rd one expected in early 2024. Although the structure of the documentary report remains constant, the central bank seeks to improve the report every year, taking into account international best practices, in terms of the coverage of assets and the indicators and data used,” Norbert Holczinger highlights.

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Green recommendations In 2019, MNB launched its Green Program, which aims to reduce risks related to climate change and other environmental issues, expand domestic green financial services, increase the related knowledge base and further reduce the ecological footprint of financial actors and MNB itself. The target audience is broad: primarily financial institutions in Hungary, including credit institutions, insurers and capital market players but MNB is also partnering with universities, research institutes and professional organizations to increase the relevant knowledge base.

According to the Head of Department, the first four years of the Green Program have produced a number of results. “In order to improve the sustainability of the financial system, we have issued our Green Recommendations available to banks, insurers and cash processors, and their monitoring is now a daily practice in the supervision of banks. To support transparency in green capital markets and help retail investors to make informed decisions, MNB has launched the Green Financial Product Finder, and sustainability checks have been launched in capital market supervision. MNB recently decided to extend the Green Preferential Capital Requirement Program, a unique initiative in the world to encourage the development

of green lending in Hungary, which has now entered its third year of successful operation.

Research and analysis now also cover climate and environmental risks, including long and short-term climate stress tests for banks and insurance companies, as well as financial risks from biodiversity loss. MNB has also been successful in reducing the environmental impact of its own operations: in three years, carbon emissions related to its operations have been less than halved, with the remaining emissions being offset by the central bank's financing of habitat restoration programs.”

For sustainable and responsible investment MNB has recently demonstrated its commitment to environmental sustainability by issuing a Sustainable and Responsible Investment Charter. In addition to serving as a guide for foreign reserve investment strategies to integrate green considerations, the document can serve as a model for financial market participants and contribute to market development. In the Charter, the central bank structures the greening of reserve management and the steps to be taken along four pillars: measurement, investment strategy, transparency/ active engagement and monitoring.

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Not only at corporate level “The choices we make every day have a significant impact on the future of our planet, and also on our wallets. In some cases, they can be tangible and visible (such as the use of plastic bags, straws and disposable cups), but on closer inspection, they can be seen in almost every aspect of life. A careful look at the issue reveals that planning, thinking long-term and living a sustainable lifestyle is good for our wallets and the environment.

In other words, we find a link between conscious, sustainable consumer choices and saving in the everyday sense. This suggests that it is financially worthwhile to make prudent and conscious consumption choices,” the Head of Department points out.

MNB has launched the Family Green Finance website to provide practical and useful help for individuals and businesses to realize that managing their finances in a responsible way can also help the environment. The site aims to raise public awareness of green financial products as well. MNB also pays special attention to green awareness in its public information campaigns, with special articles offering tips and practical ‘green’ advice on starting school, saving money or preparing for Christmas.

Given that MNB considers ‘learning by playing’, i.e. gamification/edutainment tools, to be a priority in its educational outreach to the public, it was a key aspect to link the Green Finance program to a platform where visitors could access information in a playful way, feeling their own involvement in the topic.

MNB’s Family Green Finance website features an ecological footprint calculator to calculate the environmental impact of a household's or family's consumption habits, i.e. their individual ecological footprint. “Users are not only given a number but also practical advice and useful information on how to reduce their own ecological footprint, related to four main areas of family spending and environmental impact: food, housing and utilities, transport and shopping. The feedback on the program has been positive, confirming its role and the need for it,” Norbert Holczinger concludes.

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photo by DÁVID HARANGOZÓ, MNB

The National Bank of Hungary (MNB) is among the most active central banks internationally in the field of green finance.

Its aim is to ensure that the domestic sector recognizes the importance of environmental sustainability, understands and is aware of the risks and business opportunities arising from environmental change. The role of financial institutions is crucial: by selling green financial products, they not only promote sustainability, but also shape the attitudes of their c ustomers, the Head of MNB’s Sustainable Finance Department, Norbert Holczinger explains to Diplomacy&Trade.

to the expected improvements in data quality and availability, a more comprehensive analysis of the climate impact of reserve investments.

“The central bank will also seek to use forwardlooking indicators as well as backward-looking ones in its analysis. While qualitative targets can be set in the short term, the long-term objective is to decarbonize reserve portfolios as much as possible, taking into account the priority reserve maintenance targets and expectations,” Norbert Holczinger says.

The inclusion of sustainability considerations in reserve management and the associated green investments do not affect the expected return in terms of merit, their risk-return characteristics are similar to those of other bond-type investments in the foreign exchange market, while they can have a real, short-term positive environmental impact, he adds.

sustainability

SUSTAINABLE MODERNIZATION MAKES ECONOMIC SENSE SWISS ENVIRONMENTALIST USES POPULARITY TO PROMOTE SUSTAINABLE CAUSES

mentions a Hungarian invention that gathers unrecyclable city waste, mix it with a special molecule and transform it into concrete thus creating building material with just waste instead of using sand or gravel. Another example in the construction business is putting some steel staples inside the concrete, instead of putting iron bars to reinforce the concrete. This way, less concrete and less iron are used. “I love all these types of things that make processes efficient,” he says. It is yet another Hungarian invention in which bones from the meat industry are recycled, made into a powder to extract the phosphorus, and then used to spread over the soil as a fertilizer, a completely natural fertilizer. “All these solutions happen to exist. You can take them and use them. It's wonderful. So, you need more and more smart things. Sometimes it's just common sense,” he adds.

Qualitative economy

In 2015-16, Swiss explorer, psychiatrist and environmentalist Dr. Bertrand Piccard made the first successful round-the-world solar-powered flight on the plane 'Solar Impulse 2'. He used the worldwide interest to call people’s attention to the importance of protecting the environment and using Earth’s resources in a sustainable way.

Diplomacy&Trade caught up with him at his recent visit to Budapest.

When it comes to describing what Dr. Bertrand Piccard has done in his rich career, one is spoilt for choice with a plethora of activities like explorer, psychiatrist, environmentalist and a host of other things.

When asked how he would characterize himself, he says he is “an explorer of new ways to do, new ways to think in order to have a better quality of life on Earth.”

photo by DÁVID HARANGOZÓ

Success is only a step to do better later Speaking about the most important things that he has been involved in throughout his career, he stresses that “each time I achieve something, I think, wow, that's the biggest thing I have achieved. When I was a student, my best achievement was to have my medical degree, then, to make my first looping with a hang glider, then crossing of the Atlantic in a hot air balloon. I thought that's the biggest thing I've done. And then, I flew around the world, which was the biggest thing I've done with the Breitling Orbiter 3 hot air balloon. And then came the Solar Impulse flight around the world. And the selection of 1,500 solutions to protect the environment in a profitable way.

I thought, I will never be able to top this.

Now, I want to fly around the world in a hydrogen airplane, and I want to bring all these w w w . d t e u r o p e . c o m

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solutions to the political decision-makers.

So, I think a success is never a goal in itself.

Success is only a step to do better later.

Speak the language of the audience A psychiatrist by trade, Dr. Piccard says being a doctor gives him a different perspective even when looking at – and promoting – sustainability.

As a medical doctor and a therapist, he always learned to speak the language of the people he wants to convince. “When you speak about protecting the environment and making sacrifices for the ecology to the people who are in the economy, in the finance, in the industry, it's not the language they can understand. You need to speak their language, which is job creation and economic development. You have to show these people the solutions that can create jobs and make economic sense and, at the same time, protect the environment. This is how you can attract their attention and their interest.”

Modernization makes economic sense One of the means for him to promote sustainability is his Solar Impulse Foundation, the goal of which is to select innovative solutions to the environmental crisis and promote them to decision-makers in order to accelerate the ecological transition to a sustainable economy.

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“Speaking to climate change deniers and showing them that it makes economic sense to modernize the infrastructure, to modernize the systems, to be more efficient, to stop losing energy and money – it all makes sense. Of course, this is just a question of money, but I see also the question of energy and pollution. We have managed to change some regulations with our initiative Prêt a Voter (or Ready to Vote), like making it mandatory to have a geothermal study before every new construction in France. Thus, people will have in their hands the proof that a geothermic heat pump would be cheaper and possible and make a good return on investment even if they have never understood how a heat pump works. So, when we made this change in the French legislation, I thought that was a big step forward. And we have done the same for agrivoltaïsm, where you put solar cells above the cultures, floating solar panels over artificial lakes, etc., “Dr. Piccard highlights.

Smart things, common sense He often proclaims that he has over a thousand and five hundred examples to prove that profitable and sustainable businesses exist. One of the “fabulous” examples is the mechanism that utilizes the heat in the subways, in the drains, in underground parking lots, in order to use that heat for the heat pumps for buildings. He also

Dr. Bertrand Piccard says he is happy to speak about sustainability to all sorts of audience, especially to CEOs and company managers as they have more power to create a more sustainable future. “I want to show them all the new business opportunities in sustainability: more efficient infrastructures, more efficient ways to use energy – that's business. You have companies like Engie in France that comes to the customer and says, ‘it doesn't cost you anything, we will invest at your place in order to reduce your energy consumption and you will reimburse us with the savings that you have’, which means that the more efficiency they achieve, the more money they make. This is what I call a qualitative economy. By reducing the consumption, they make more money.”

Producing hydrogen in a green way Many people believe that electric batteries are the solution to do away with traffic pollution – including the Hungarian government that subsidizes the establishment of battery factories. Dr. Piccard agrees, and also promotes hydrogen technology that can be used for storing solar or wind energy. He stresses that there is already huge consumption of hydrogen by the steel and fertilizer industries.

“However, this is made in a dirty way by breaking the molecules of gas to extract the hydrogen, which means you release a lot of CO₂ in the atmosphere.

So, the first thing to do is to make this industrial hydrogen come from renewable sources and make a green hydrogen for steel and fertilizer production.

The second thing is to use hydrogen technology for heavy transport like trucks, trains, airplanes and maybe ships where it would be too heavy to have batteries. But honestly, I don't see the development of a lot of hydrogen cars because currently, it's much more efficient to use batteries than hydrogen for light transport. However, when you have excess solar or wind energy, you can use this electricity to go through electrolysis and produce hydrogen that is then to be used in environmentally friendly technologies and processes,” he concludes.

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E.ON: BUILDING THE ENERGY WORLD OF THE FUTURE GROUP STRATEGY DESIGNED IN LINE WITH UN SUSTAINABLE DEVELOPMENT GOALS Despite the extraordinary circumstances in the recent years, E.ON Hungária Group has not only ensured reliable, secure and uninterrupted electricity and gas supply in its service area, but remained committed to its ultimate goal: being a key player in building the new energy world in Hungary. The company believes that by developing its power grids and offering cost conscious and green energy solutions, it can support its customers to live their lives or operate their businesses in a more sustainable way.

In Hungary, and throughout Europe, an energy transition is taking place: fossil fuels are increasingly being replaced by renewable energy sources. E.ON Hungária Group is playing a key role in building this new energy world and is therefore increasingly focusing on new, innovative and complex energy solutions that increase energy efficiency, support conscious and sustainable energy management as well as enable the deployment and spread of renewable energy systems.

An electricity and gas supplier Today, E.ON Hungária Group's electricity grid companies deliver electricity to customers in nine counties in Transdanubia as well as in most of Budapest and Pest county. Its 88,000-kilometer network more than doubles the circumference of the equator. In addition to the electricity network, the Group also operates an 18,000-kilometer gas network, with gas distribution companies in six counties in Transdanubia. In total, the two energy networks supply natural gas or electricity to around four million customers in homes, institutions and businesses.

Although there has been a decrease this year, in the longer term, customers' energy demand

will constantly increase, as is the amount of energy coming from solar panels during the day. However, this energy is typically used later and geographically elsewhere, so, to be able to receive as much renewable electricity as possible, it is necessary to develop the networks capable of delivering it.

In addition to operating and developing its distribution networks, E.ON works across Europe to promote sustainable technologies and provide solutions that support customers' sustainability ambitions. From the implementation of solar PV systems to solutions that increase energy efficiency and optimize energy management, E.ON is a partner for green-minded customers planning energy-conscious transitions.

New energy world formulating The effects of the energy crisis starting in 2021 have been amplified by the political and economic consequences of the war in Ukraine, in particular, the almost complete and immediate reorganization of the fossil fuel market. The search for new supplies of conventional energy sources, in particular natural gas, and the parallel increase in demand for alternative energy sources have created new challenges for

governments and energy suppliers. Despite the extraordinary circumstances, the E.ON Hungária Group ensured reliable, secure and uninterrupted electricity and gas services in its service area.

In addition to maintaining and increasing stable service levels, another priority for the Group is to prepare its network for the energy transition.

“We need to prepare today for the future growth of solar farms, small household-scale power plants and energy communities. As well as upgrading our central distribution networks, we are supporting the ‘commoditization’ of individual consumers, increasing energy security and the resilience of our networks. The growing demand for electrification, alongside smart solutions, is also driving the need for network upgrades,” Gergely Losonczi, head of corporate communications at E.ON Hungária said.

Sustainability above all Without the energy transition, Europe’s ambitious sustainability goals cannot be reached. E.ON Hungária wishes to be the green energy provider of the future in Hungary, while at the same time transforming its own operations towards specific climate goals: joining the international E.ON Group's commitment to

reduce direct and indirect greenhouse gas emissions by 75% by 2030 and 100% by 2040.

To achieve these commitments, E.ON raised sustainability as one of its three strategic pillars. The Group’s sustainability strategy has been designed in line with the Sustainable Development Goals (SDGs) of the United Nations, taking into account the targets set out in the SDGs. Through its core activities, the Group can make the greatest contribution to the following goals: health and well-being; affordable clean energy; industry, innovation and infrastructure; reducing inequalities; sustainable cities and communities; and climate action.

At the heart of corporate governance is the need to put sustainability on a firm footing in the Group's operations. An important part of this pillar is that it has developed a much more detailed sustainability strategy. Another key element of its sustainability strategy is climate protection. The Group believes in a fossil-free future, and creating such a future is a guideline in its daily operations. Its energy grids play a central role in enabling the integration of renewable energy sources and thus form the backbone of decarbonizing society. In the area of consumer solutions, customers are helped to achieve zero emissions with energyefficient, green and smart solutions, whether it's e-mobility, advanced energy-efficient cooling and heating solutions or solar PV systems.

E.ON also focuses on supporting employees and a diverse society. As the company states, “without our employees, our business would not work, and neither would sustainability. Protecting their safety and health remains our top priority.”

Annual sustainability report E.ON Hungária is part of the international E.ON Group, one of Europe's largest energy network and infrastructure operators. Taking into account the core strategy of the international E.ON Group, E.ON Hungária Group renewed its corporate strategy based on three main pillars: growth, digitalization and sustainability. Accordingly, the strategic framework prioritizes sustainability, with key elements being the reduction of the negative impact of its operations on the environment and the protection of the safety and health of the employees.

In addition to these, the corporate strategy also places a strong emphasis on customer focus and continuous improvement of the Group’s operations.

The aim is that the majority of the activities fall into the category of sustainable activities according to the EU’s Taxonomy Regulation methodology. As part of its efforts to make its operations more transparent, E.ON Hungária Group reports its sustainability performance annually in the form of a Sustainability Report prepared according to the guidelines of the internationally accepted GRI Standard Framework.

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WE ARE WORKING FOR A SUSTAINABLE FUTURE SPAR takes on an active and pioneering role in matters affecting the future of our planet. In the autumn of 2019, we organized these activities into a unified system, connecting the branches of sustainable development that are important to us, such as environmental protection, support for a healthy lifestyle, food safety, employee support and social responsibility.

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sustainability

SPAR – FOR A SUSTAINABLE FUTURE

THE COMPANY'S EFFORTS ARE CLOSELY LINKED TO THE UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS

certification in November 2022. This certification assures that food safety concerns are identified, prevented, mitigated, or even eliminated, if necessary. The Regnum meat-processing plant has had such certification since 2010. For logistics processes, the IFS Logistics 2.3 standard ensures that safety and quality are guaranteed, from the arrival of goods, all along till delivery to the stores.

In addition to this, the company hub in Bicske, west of the capital, and the whole store network have had the ISO certification since 2008, with the ISO 9001:2015 standard currently in. All stores also have the HACCP certification.”

Teaching customers sustainability

In July this year, SPAR Hungary Ltd. published its first sustainability report, which includes the results for the financial year of 2022. The President-CEO of the company, Gabriella Heiszler explains to Diplomacy&Trade that “as an international corporation, we have been producing Group-level reports on our sustainability measures for many years, covering fields such as products, employees, the environment and society.

Sustainability is becoming increasingly important in all walks of life, which is why we felt it was important to provide our customers and partners with a deeper insight into our activities in Hungary.”

space increased. We switched to CO₂-based cooling technology several years ago and last year, we completed the first such ejector-based system, resulting in a further 10% cut of energy use. We take efforts to fight food waste: we have been the first retail chain to join the Munch food-saving app, and we work with the Hungarian Charity Service of the Order of Malta to deliver food donations to people in need.”

Lifestyle program

Quantifiable results Regarding the key findings of the report, she highlights that they are proud to say that they have achieved apparent and quantifiable results in almost all areas. “Last year, we produced more than 2,200 tons or 6.4% less waste than in 2021, and our total energy consumption was also reduced by 3%. We phased out single-use plastic bags from our fruit and vegetable departments, reducing the annual plastic consumption by 450 tons, and we have saved an additional 84 tons of plastic through the introduction of reusable packaging materials in the field of logistics. We are also supporting our customers along this journey: we made it easier for shoppers to find sorted waste collection bins with a map-based online search function.”

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In line with UN goals of sustainability The five main pillars that support the sustainability activities of SPAR (protection of the environment, food safety, promoting healthy lifestyles, protection of employees and social responsibility) are closely linked to the United Nations Sustainable Development Goals (SDGs). As to how and to what extent SPAR Hungary has achieved the objectives in these areas, the President-CEO underlines that “since 2015, our Group has reduced its greenhouse gas emissions by 45.5% across all its operations, including all the subsidiaries, even though its retail

She adds that in 2022, the SPAR Lifestyle program “already included more than 1,500 health-conscious and ‘free from’ products in our range, while the Treasures of Regions program and the Hungaricool product competition have been helping small and family enterprises in Hungary to enter the market, which also reduces the length of supplier journeys.

We provide employees with competitive salaries and career opportunities, mentoring for new recruits, equal opportunities programs for people living with disabilities, and we counter discrimination.”

Food safety ensured In the SPAR ‘enjoy. convenience’ plant in Üllő, southeast of Budapest, mayonnaise salads, sandwiches, sandwich spreads and cold platters are produced. As Gabriella Heiszler points out, “it is an outstanding achievement for the company that the plant that has been in operation since 2018 received the ISO 22000:2018 quality management 2 0 2 3 / V III

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Positive feedback As the topic of sustainability constantly comes up in SPAR Hungary’s interaction with its customers and business partners, the company is continuously getting feedback from them about the sustainability measures. And this feedback, as Gabriella Heiszler puts it, is “absolutely positive.” She stresses that “this is true for both the feedback given to the staff in the stores and the feedback we receive on our online platforms. We also feel that our customers and partners are aware of SPAR's environmental and sustainability actions and recognize the consistency with which we always translate our promises into action for the right causes.”

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photo by BENCE KOVÁCS, ZSOLT MOLNÁR, SPAR

SPAR Hungary takes an active and pioneering role in matters affecting the future of the Earth, and one of the cornerstones of its business philosophy is environmentally conscious corporate governance. The retail store chain is using more and more environmentally friendly solutions, from waste management through logistics to advertising, and is also involving its customers in their operation.

The social benefits of sustainability measures are indisputable, but they can also be difficult or inconvenient sometimes. Therefore, it might not be easy to “convince” customers that it is worth taking such efforts in the long run. As regards their approach, the SPAR Hungary President-CEO highlights that they believe it is worth starting as early as possible, and thus, the try to reach children also. “Under the title SPAR ÖKO KALAND (ECO ADVENTURE), we produced a ten-part animated mini-series for kindergarten and school children about sustainability topics, such as sorted waste collection and single-use plastics. In 2020, SPAR Hungary published its educational booklet ‘How to be an environmentally-conscious shopper?’ in partnership with Nestlé Hungária, followed by another one this year with the title ‘Don’t throw out food, plan smarter instead’. In these publications, we support customer efforts to adopt more sustainable lifestyles and consumption habits with raising awareness and giving practical advice. Our sustainability goals have also been marked by an umbrella brand from 2019, with the slogan: ‘SPAR – for a sustainable future’. Through a dedicated interface, the www.sparafenntarthatojovoert.hu website, we inform partners and customers about our sustainability efforts, actions and results through videos, images and text information.”

sustainability

SUSTAINABLE COMMUNICATION

AGENCY OFFERING MORE AND MORE GREEN OPTIONS TO CLIENTS The Progressive Advertising Agency has been in the business for over two decades, listing an impressive array of companies as clients. Heeding the call of times, more and more of their projects reflect various aspects of sustainability.

which induce employees to live more sustainably, and also demonstrates how their company – e.g. a financial service provider or a manufacturing company – contributes to the sustainability of the whole process. I find this very exciting; we are absolutely self-funding this,” he explains.

Sustainable on their own way The Progressive agency moved offices last year. The Managing Partner stresses that it's a rental property, so they have to work with quite a lot of constraints. “Basically, for us, it was the character or the environment that was important in that respect. It is good to be able to work in an atmosphere where we are in the middle of the city but with a beautiful garden, always green, with natural light, in a wellconnected, centrally located environment. To make it even more sustainable, we have had the thermostats reprogrammed, we've banished all the nylon bins from the office area. Collecting rubbish selectively is not a big thing but we take our share: we have one or two municipal waste bins, we collect paper separately as we do with compost, for example, coffee grounds and fruit scraps: we collect them separately and I take them home to our garden. So, the choice of office was pretty much along those lines.”

As Managing Partner Tibor Hodik recalls to Diplomacy&Trade, “my colleagues and I have been quite conscious of trying to live sustainably as private individuals, but in business, this issue emerged only 10-12 years ago, and it was actually our pro-activity that resulted in recommendations to clients. The root of that is that we worked with NGOs anyway, and many of us are still involved in different NGO initiatives. We took the norm from there and put it into business practice.”

He notes that in the last 3-4 years, there has been a growing demand for these proposals from their clients. “We are working in a multinational environment and this has come to the forefront in the last few years with the large international companies that already included in tender documents that there must be a sustainability leg to the project. This is obviously being driven by the ESG reporting that will be introduced next year and compliance with the ESG guidelines, thus, everyone is looking for solutions.”

Sustainability as added value In more and more areas of business, sustainability is not only becoming a cost element, but also a factor that actually pays off.

In agreement with that, the Managing Partner states that “if we bring these suggestions, or certain elements or tools into campaigns or projects, it will be well received by the target audience. Clients are rarely asking for specific tools, but it is in the calls for proposals to add some elements of sustainability. We have a lot of work to do on this anyway, developing our own program in this respect. However, I see it as a return on investment because some people are now turning to us just because they know that we are doing this, and there are projects in which we are putting in place elements that have a greater internal added value. From our point of view, it is also worth it and customers get more because they do not get a standard market solution, but something extra. I see the importance of it, for instance, in the internal communication of a large international company operating in Hungary to somehow expose what it is doing for sustainability.”

Within the company itself, Progressive has its guidelines, which are not mandatory but help staff to do a lot of things in-house that contribute to being able to operate sustainably. “We started by looking at ourselves to find points where we could reduce the ecological footprint of our activities. And from that conversation, we then looked at what else we could export to the w w w . d t e u r o p e . c o m

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market. So, it is absolutely an initiative from within. I can see that the younger our colleagues are – and here in the advertising business we work with young colleagues – the more important it is for them to work on projects that somehow contribute to a sustainable future, or to work for a company that does,” Tibor Hodik adds.

Sustainable communication One of the commitments at Progressive is to develop a sustainable communication product.

“Incidentally, since last year, we have our own in-house studio where we work on content development. In addition to incorporating

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sustainable elements into our clients' campaigns, we also develop our own communication products. This is a higher level of cooperation.

We are now starting a new collaboration with WWF. We've been working with them for a long time in a number of areas, and we're now producing an educational, experiential and interactive webinar series, where we're going to take a look at different general sustainability topics and we're going to offer these to our customers, initially for internal communication purposes. Thus, on the one hand, it includes general education so that you can now deal with the ecological crisis and other ecological issues,

When asked what kind of results he would be satisfied with if he looked back at the company's sustainability activities in a couple of years' time, Tibor Hodik highlights that they happen to be doing an audit that looks at the ecological footprint of their own operations and activities.

“So, it will be a pretty transparent thing, quite measurable and it will be completed early next year. In line with that, in the beginning of 2024, we have to adopt a reduction plan.

We are implementing the commitments in the reduction plan, but with the rented office, the already existing electric car fleet and our conscious operation, we see that we can have a much greater impact on the activities of our customers than transforming our own operations. I am happy if more and more green ideas are accepted by our customers, because we always include alternatives in our proposals anyway. We have already achieved significant results in the field of event organization and our customers often choose environmentally conscious solutions.

Examples include abandoning plastic-based decorations and replacing them with digital content, streamlining transportation, or minimizing food waste.” The Managing Partner foresees a great future in content development.

“We're not a typical content company, and we're not going to be one anyway, but content targeted at corporate communications, like the WWF project, is going on at the moment, that's where I'd like to go further. I see that there is a demand for it, there is a market for it, so, we will be coming out with more and more of these own products. I would like to build a portfolio of these proprietary products, which will probably be content typically, but we will see what happens next when we finally get going with that.”

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photo by DÁVID HARANGOZÓ

More green options for customers

­­culture A SPARROW SINGING IN BUDAPEST

THE LIFE, MUSIC AND MEMORIES OF ÉDITH PIAF PRESENTED IN BUDAPEST April next year, the audience in Budapest’s Erkel Theater will witness the Hungarian premiere of ‘PIAF! The Show’ a worldwide success French musical performance about the life and career of Edith Piaf, a French singer best known for performing songs in the cabaret and modern chanson genres. She is widely regarded as France's greatest popular singer and one of the most celebrated performers of the 20th century.

The best tribute ever ‘Piaf! The Show’ is performed in two 45-minute episodes and tells the story of the singer's life using her best-known songs, with unique sets and never-before-seen images. It will bring life, music and memories together in one of the most memorable concerts of the year, a show that welcome all those who want to be part of an unforgettable evening.

Close friends of Edith Piaf, such as Ginou Richer, Edith Piaf's private secretary, Germaine Ricord, her friend and Charles Dumont and Charles Aznavour, agree that it is "...the best tribute ever made to Edith Piaf's career...".

A singing sparrow Édith Piaf (1915-1963) was born in Paris as Édith Giovanna Gassion to parents with theater and singing background – with both parts of her name having its own story. ‘Édith’ was inspired by British nurse Edith Cavell, who was executed two months before Édith's birth for helping French soldiers escape from German captivity during World War I. She was twenty years old when stage surname Piaf was created by her first promoter, based on a French term for ‘sparrow’.

She first began to sing in public at age 14, when she was taken by her father to join him in his acrobatic street performances all over France.

A year later, she met her half-sister, Simone who became a companion for most of her life.

Together, they toured the streets singing and earning money for themselves.

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Piaf's career and fame gained momentum in the early 1940s. She began forming friendships with prominent people, such as actor and singer Maurice Chevalier.

In 1945, she recorded her signature song ‘La Vie En Rose’ that she herself wrote the lyrics of. After World War II, she was in great demand and very successful in Paris as France's most popular entertainer, performing together with people like singer/actor Yves Montand. Then, she became known internationally, touring Europe, the United States, and South America.

Singing from early age Since 2015, it has been the ‘Piaf! The Show’ that has been touring the world, being the biggest French success internationally over the past eight years.

The show, to be staged in the Hungarian capital, stars Nathalie Lermitte, one of the best interpreters of Edith Piaf. Story has it that at the age of she listened to ‘Les blouses blanche’ sung by Édith Piaf over and over again. This experience had an impact on here life and future career.

Singing is certainly a true vocation for Nathalie Lermitte. At the age of six, she already performed in a rock band led by her father. Her eighteenth birthday saw the release of her first album ‘Tu es tout ce que j'aime’ with Carrere, of which more than 400 000 copies have been sold.

This was just one of her several record successes in the 1980s as a singer. However, she still decided to change and pursue a career in musical comedies and musical theater performances, including a succession of musical roles, most of them as Edith Piaf. Nathalie played the role of Cristal in the musical Starmania, recorded theme songs for two television series as well as cartoon theme songs (or covers), or CDs for children. She also lent her speaking voice to several children's books/CDs.

Intact emotions Giving Diplomacy&Trade a reason for that change, she says that “in 1989, I was engaged in a very famous rock opera 'Starmania', which was a revelation for me, I adored playing a role, singing with several singers!”

The most successful of those musical theater performances are the ones evoking the life of Edith Piaf. As to what attracted her to the life and music of Édith Piaf, she points out that “it is essentially the emotion that she carries. I realized that throughout the world, this emotion is intact and the public vibrates and cries to the sound of her songs.”

After participating in two other musical shows about the life of Édith Piaf since 2004 in France, Nathalie Lermitte joined the ‘Piaf! The Show’ in 2018. Regarding the experience of performing this show for more than five years now throughout the world, she mentions that this is her fourth show on Édith Piaf and “it’s always a repeat but it is the new energy and happiness that is intact!”

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she utilizes, means that help her to present these to the audience, she repeats that it is the emotion that the songs carry. “Their memories are written very deeply in each of us.

We are only reveilleurs...”

As to what she thinks makes this musical performance so special, Nathalie Lermitte underlines that “we always go towards the sincerity of the present moment dear to Edith Piaf. We must be closer to the emotion Piaf!”

Those watching the performance in Budapest – like anywhere else in the world – are most likely to be familiar with the songs of Édith Piaf. Explaining how much the performers usually involve the audience and what those attending the show in the Erkel Theater can expect in this regard next April and what she expects from the Hungarian audience, the singer/actress highlights that “we owe it to ourselves to be most sincere in the present moment dear to Édith Piaf. Édith Piaf’s songs belong to the public! Édith Piaf worked for this.

She also worked for eternity. The whole world sings with us her songs and I’m sure Budapest will too!”

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photo by KONCERTPROMO.HU

‘Piaf! The Show’, directed and produced

by Gil Marsalla, has been staged in over 50 countries with 400 performances and over one million tickets sold worldwide. In Hungary, it is presented by Koncertpromo that – experiencing a great demand for the show – booked four consecutive days in the theater.

witty leaks LE A K S

IN THIS SERIES, DIPLOMATS SHARE PERSONAL ACCOUNTS OF THEIR EXPERIENCES ON “EXCURSIONS” into Hungarian culture, art, gastronomy & scenery.

A DAY WELL SPENT WITH A HUNGARIAN FARMER

AMBASSADOR RETURNS FROM THE HUNGARIAN COUNTRYSIDE WITH GOOD VIBES AND MEMORIES

BY THE AMBASSADOR OF MALAYSIA, FRANCISCO MUNIS

The day started early when I visited farmer Sándor and Aranka. As I arrived in a cold morning around 7 am, at the entry gate of farmer Sándor’s humble home, I was first greeted by their two friendly dogs, one of which a Hungarian breed, the vizsla.

It took me a while to reach the door, as the two dogs were too excited to welcome their foreign visitor.

Sándor had spent a lot of time and passion into his farm. He turned his average plot of land into a smallscale food and income generating machine. From his zealous elaboration, I can see that farmer Sándor managed his daily routine around his farm with discipline.

The art of pálinka-making

Heavy breakfast to start the day Their home is a typical rural Hungarian home. It’s detached and fully surrounded by consumable greeneries. As a welcome gesture, farmer Sándor and Aranka insisted to first serve rural style, Hungarian home prepared breakfast. It was a heavy breakfast, consisting of a large sausage, freshly baked bread and the local meat soup (húsleves). While enjoying breakfast, farmer Sándor regaled me with lots of personal stories, about his family, his early years as a soldier, his farming work and of a battle between the Hungarian and Croatian armies that took place a long time ago, around the area they are living.

From time to time, Aranka would interject with jest, but farmer Sándor simply took her comments in stride.

After breakfast, farmer Sándor impressed that the day would not be valid without the ritual tradition of starting the day with a little drink, the famous Hungarian traditional pálinka … and so I partook in the ritual. Both the breakfast and ritual pálinka were indeed helpful in battling the cold morning.

A lot of time and passion Thereafter, as the sun began to shine, farmer Sándor gave a tour of his small farm that is located next to his house. He showed and explained what, why and how he planted certain types of vegetables, fruits and trees and where the produces would go. He also reared chicken and fish, and at one point, pigs too.

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However, due to his advancing age and his health condition, he could no longer rear such livestock as pigs. He also informed that he has another, larger plot of land not far from his house, although, he now only tends to it seasonally. There, he planted more fruit trees and also manages a small vineyard. Next, he showed how he goes about his self-assembled technologies to complement his home and farm, from solar energy to rainwater

harvesting and to recycling waste.

In the background, running and jumping squirrels, singing birds, happy cats hunting and, of course, his two dogs roaming around the farm and coming in and out of the farm house. It was as if the dogs were also occupied with their own routine as farm dogs.

Farmer Sándor’s farm, house and himself, were the image of selfsustainability and man co-existing with nature. I could see that farmer

After the insightful tour around his farm, we proceeded to a small covered yard for lunch, which was simple but with lots of traditional Hungarian pastries, again, courtesy of Aranka. I continued listening to farmer Sándor’s stories during lunch and also asked him many questions, from farming issues, trading of his produces to his opinions on rural and city living. He was also interested to hear about me and my country. After lunch, farmer Sándor demonstrated the art of making the pálinka at a small garage-like structure and showed all of his pálinka making apparatus, all self-assembled, of course. The garage was surrounded by large containers of fermenting fruits. He said that leftovers from his fruit harvest would be turned into pálinka. According to farmer Sándor, the law allows for Hungarian families to produce their own pálinka at a reasonable volume, for home use and family consumption.

Farmer Sándor patiently explained in detail, the process of making a good homemade pálinka. He mentioned that common fruits used are apricots, plums or pears and that fifty kilos of fruit will produce about a liter of pálinka. The first part of the process, from preparing the fruit to fermentation takes about a month.

“Anything that can be fermented can be turned into pálinka!” exclaimed farmer Sándor, while implying that the first part of pálinka making is an easy process and not to be worried about. My thoughts drifted back to my hometown, pondering if local tropical fruits, such as the rambutan, durian, manga liar, nenas,

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tarap, nangka, ciku, jambu batu, manggis, buah naga etc. could all be turned into a pálinka-like drinks, as all these fruits can be fermented.

So far, I haven’t heard of anyone from back home attempting to do so. I wonder why. Farmer Sándor stressed that the second part, distilling, is the most important, and also the most dangerous if not properly done. He explained and demonstrated all the technicalities.

It is not as simple as it looks.

Good vibes and memories from the farm The day ended in the evening with a session of pálinka tasting with some food, courtesy of farmer Sándor and Aranka. Pálinka made from different types of fruit and mixes were tasted.

It was enthralling to observe the art of pálinka making from farmer Sándor. I must acknowledge that farmer Sándor is well-versed and is an expert of pálinka making. At first, I assumed that homemade pálinka making would be similar to producing the homemade montoku (rice liquor), a traditional pálinkalike drink originating from my hometown. There are similarities, but there are also some considerable differences. I got to know farmer Sándor from a Hungarian friend who also arranged for the visit and later introduced me to him. As farmer Sándor and Aranka do not speak English, the English-speaking Hungarian friend was also present to be the translator. Initially, farmer Sándor was shocked that a foreign Ambassador would like to spend a day with him and Aranka at their farm house. However, in just a few hours, we quickly became acquainted, as if we had known each other for long.

I returned to Budapest with the feeling of spending a day with a longtime friend, good vibes and memories and with varieties of farmer Sándor’s quality homemade pálinka, given as a courtesy parting gift. Farmer Sándor’s lamentation, however, lingered on my mind. He is concerned about the future of his farmland. I thank farmer Sándor and Aranka for receiving and finding time to host me the whole day long and for sharing their experiences and perspectives as small-scale farmers. Their hospitality is very much admired.

I wish them a good and happy life.

The day outing with farmer Sándor added to the list of my experiences and was truly, a day well spent with a Hungarian farmer.

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photo by EMBASSY OF MALAYSIA

WITTY

SSANGYONG FÁBIÁN BUDAPEST | SZÉKESFEHÉRVÁR www.ssangyongfabian.hu

The NEW SSANGYONG TORRES model is available in our dealerships.

For further infomation check the ssangyongfabian.hu website. The picture is an illustration.

SsangYong Torres mixed CO2 emissions: 181-207 g / km (WLTP); mixed consumption: 7,94 - 9,08 l / 100 km (WLTP).

festive season

FOUR SEASONS HOTEL GRESHAM PALACE BUDAPEST

photo by FOUR SEASONS HOTEL GRESHAM PALACE BUDAPEST, KEMPINSKI HOTEL CORVINUS BUDAPEST, MATILD PALACE, A LUXURY COLLECTION HOTEL, BUDAPEST, LUA RESORT BALATONFÜRED, DOROTHEA HOTEL, BUDAPEST, AUTOGRAPH COLLECTION

A great place to experience the magic of the holiday season is the Four Seasons Hotel Gresham Palace Budapest, nestled near the renowned Budapest Christmas markets. Entering the lobby dressed up in Christmas decorations, people can reconnect with their loved ones over holiday dinners, savor their Herend Afternoon Tea or raise a toast to the new year with late-night champagne celebrations at the MÚZSA lobby bar and lounge, which awaits, with a festive feast, afternoon tea enthusiasts who can enjoy exquisite teacakes and savory delights served in hand-painted Herend porcelain sets, while piano, cymbal or harp melodies fill the air. A family feast at the hotel includes roasted turkey with gravy, homemade cranberry marmalade, mashed potatoes and apple-pear pie.

KEMPINSKI HOTEL CORVINUS BUDAPEST

At the Kempinski Hotel Corvinus Budapest, the end of the year brings delight and happiness to people’s life like no other time. You can throw yourself into the celebrations heart and soul, and leave the chore of preparations to the hotel staff who have festive offers for you and your family and friends so all you have to do is celebrate and enjoy.

Offers include a cup of mulled wine on ÉS Bisztró’s Christmas Terrace; a turkey or goose feast ordered to your home; quality time and great brunch by the hotel’s Festive Family Tables; bubbly Festive Afternoon Teas; a precious ' Flavours & Harmony' menu on Christmas Eve; a stylish celebration of the New Year's Eve; or even a Hangover Brunch 'Benediction'; not to speak of ultimate gift tips.

MATILD PALACE

The elegant and stunning halls of the premier luxury hotel, Matild Palace come alive with a plethora of lavish programs and enticing offers for the holiday season.

The historic palace bids farewell to the year in a splendid circus-themed spectacle. Spago Budapest, Matild Café & Cabaret and The Duchess Rooftop Bar take center stage behind the curtains, unveiling the most exclusive festive experiences. The hotel's upscale restaurants serve as showcases of culinary mastery, featuring Christmas and festive menus, family feasts available for takeaway, festive brunches and gourmet New Year's Eve dinners. The grand finale of the year includes a special Cabaret Show & Gala Dinner, followed by a lively party infused with cocktails at the clandestine rooftop liquor library.

LUA RESORT BALATONFÜRED

The LUA Resort Balatonfüred at Lake Balaton is one of the hospitality establishments awaiting guests with a Christmas festive menu outside Budapest. The hotel’s gastronomic philosophy is close to modern simplicity, an approach that builds on the roots of the past but follows the world's movements. Its contemporary cuisine respects the ingredients, sometimes complementing traditional methods with flavors from different cuisines around the world, sometimes more restrained, sometimes more intense.

Between December 22 and 26, guests are invited to enjoy a festive menu. Dreamed up by chef Károly Pintér and created with his team, the dishes present the essence of his unique gastronomic vision as the NOON Restaurant & Lounge offers a comprehensive experience that appeals to all the senses. The unconventional decoration is inspired by the mysterious world of the jungle.

DOROTHEA HOTEL BUDAPEST

For the festive season, the Dorothea Hotel, Budapest, Autograph Collection has prepared a very special Christmas food and drinks menu in the Anton Bar & Deli for its guests and those visiting from outside the hotel. The building is located near several Christmas markets – so much so that you can admire the magnificent lights of the Christmas market on Vörösmarty Square from the prestigious terrace of the Presidential Suite of the hotel. It is a special Christmas feature connected to the hotel that, according to legend, the first Christmas tree in Hungary was originally installed by Archduchess Maria Dorothea of Austria, whom the hotel is named after, in their Buda Castle home. To celebrate her legacy, you can enjoy a dazzling display of Christmas trees in several common areas of the hotel.

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STING BACK IN BUDAPEST

CLASSICAL AND JAZZ MUSIC, DANCE SHOWS AT MÜPA

MAY 31, 2024, BUDAPEST ARENA

THROUGHOUT 2024, MÜPA PALACE OF ARTS, BUDAPEST

The National Philharmonic Orchestra under György Vashegyi will perform Puccini's masterpiece Manon Lescaut on the centenary of the Italian composer's death. Directed by Csaba Káel, the semi-scenic performance is brought to life by Italian soprano Monica Zanettin, who has performed brilliantly in Puccini and Verdi roles. Gergely Kesselyák and the Pannon Philharmonic, which will turn 200 next year, are preparing for the season's premiere of the latest composition by the composer of the season, György Orbán, alongside Mozart's popular Symphony No. IV in G minor and Mahler's perhaps most vivacious Symphony No. 4 in G major.

Fans of lighter genres will also have something to look forward to next year. The world's most Grammynominated musician, American banjo legend Béla Fleck – named after Béla Bartók – will return to Budapest in 2021 with songs from his Grammy-winning album and a truly all-star bluegrass band.

In addition to music, dance is also at home at MÜPA Budapest, where the Győr Ballet's Peer Gynt, premiered in the winter of 2022, will be performed for the first time. László Velekei's full-length choreography offers his own interpretation of one of the most complex figures of 19th century drama. The Szeged Contemporary Ballet's popular fairytale ballet Cinderella will return, while Pécs Ballet and Balázs Vincze's contemporary choreography Carmina Burana, based on classical foundations, will be back, as will János Feledi's three-part dance work, which will make its debut at the Liszt Festival.

mupa.hu

The Cherrytree Music Company and Live Nation have confirmed that 17-time Grammy Award winning artist Sting will perform a special concert at Budapest Arena on May 31, 2024.

Sting, joined by an electrifying rock band, is set to deliver an exuberant and dynamic performance showcasing his most beloved hits spanning his illustrious career both as a member of The Police and as a solo artist. The concert will feature timeless classics like ‘Fields of Gold’, ‘Roxanne’, ‘Every Breath You Take’, ‘Message in a Bottle’, among many more of his iconic songs.

Sting’s recent performances have been hailed a “masterclass” by The Times (UK); "Sting remains an undeniably skilled performer with a gold-plated back catalogue.” Described as a "rare treat" by The Telegraph, Sting himself was lauded as "near peerless" by The Guardian for his sublime pop alchemy. livenation.hu

LENNY KRAVITZ: BLUE ELECTRIC LIGHT TOUR JULY 30, 2024

photo by LÁSZLÓ MIHÁLY, LIVE NATION, M. NISHADA, MICHELLE HAYWARD

BUDAPEST ARENA Timeless. Explosive.

Romantic. Inspiring. How else to characterize Blue Electric Light, Lenny Kravitz’s 12th studio album?

Kravitz wrote and recorded the album in his studio in the Bahamas and his mastery of deep-soul rock ‘n roll is once again established here. As a relentless creative force – musician, writer, producer, actor, author, designer – he continues to be a global dynamic presence throughout music, art and culture. Blue Electric Light is an impassioned suite of songs, that broadens this distinction and is the latest contribution of a man whose music – not to mention his singular style – continues to inspire millions the world over. On the album, Kravitz's talents as a writer, producer and multi-instrumentalist resonate as he wrote and played most of the instruments himself, with longtime guitarist Craig Ross.

Ultimately, he crafted 12 tracks that are reflective of his legacy as a genre-breaking trailblazer, yet also firmly entrenched in the energy of the 21st century and beyond.

Throughout his career, Lenny Kravitz has won four GRAMMY Awards and sold over 40 million copies worldwide. He was recently selected as a candidate for the 2023 Hollywood Walk of Fame, underlining his undeniable role as an icon of style and music. livenation.hu

PALOZNAK JAZZ PICNIC: MUSICAL DIVERSITY, GENERATIONAL MISSION AUGUST 1-3, 2024, PALOZNAK AT LAKE BALATON

In the spirit of festive preparation, the organizers have announced the first main stage performers of the 12th Paloznak Jazz Picnic, which will take place in August, 2024. The boutique festival will be one of the most anticipated events of the Balaton summer next year: on August 2, the uncrowned king of funky, ‘The Brand New Heavies’, will perform, followed by Tony Hadley, former lead singer of the Spandau Ballet, who will rock the picnic weekend. On August 3, the Dutch pop band Son Mieux will be on stage, followed by Morcheeba, a long-standing wish of the organizers, in a moonlit concert on the side of the vineyard.

Alongside legendary international musicians and bands, the picnic will also feature the best of local jazz and the latest experimental music. jazzpiknik.hu

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Energy Infrastructure Solutions Let’s join forces to make your company’s energy management more efficient and more sustainable

eon.hu/integrated