ESG consulting – new rules
Many people offer ESG-related services in Hungary today, but from July 1, 2026, professional experience or sustainability knowledge alone will no longer be sufficient for someone to legally operate as an ESG consultant.
After this deadline, only appropriately qualified, accredited and officially registered professionals can carry out certain ESG consulting activities, and violating the rules can result in fines of up to several million.
There are many companies, consultants and sole proprietors in Hungary who offer ESG-related services, appear on the market as ESG experts, or support clients in sustainability, corporate governance and compliance issues.
Not all ESG-related activities are ESG consulting, however. Based on the definition in the ESG Act (Act CVIII of 2023), risk arises when the service provider is involved in the specific ESG data provision, sustainability due diligence, risk analysis, ESG strategy or reporting process of the company. The line is not drawn by the professional background of the service provider, but by the actual content of the service, and just because someone holds a 1-hour workshop, they do not necessarily become an ESG consultant.
However, if someone actually provides ESG consulting within the legal definition, they can only do so as an accredited professional or specialist company registered with the Hungarian Institute of Financial Services – emphasized Dr. Gergely Gábor Szabó, a member of the Bán, S. Szabó, Rausch & Partners Law Firm.
In addition, entry into and stay in the consultancy market is also limited, as the previously granted transitional period expires on June 30, 2026, and thereafter, in order to maintain the registration status, the 29/2024. (VIII. 8.) NGM Decree and the 11/2024. (VIII. 8.) SZTFH Regulation requires that the consultant concerned has the necessary qualifications and has submitted the document (micro-certificate) proving this to the SZTFH.
The authority may impose a penalty
In practice, this means that anyone who does not prove by June 30, 2026 that they have been trained by an institution that trains ESG consultants accredited by the Hungarian Economic Development Agency (MGFÜ) has obtained the ESG Consultant qualification within the framework of an organized ESG consultant training, he risks maintaining his accredited status, and as a new applicant he cannot expect to be registered in the absence of this condition.
Anyone who is not registered but carries out ESG consulting activities (including the offering of such services) risks a serious fine, which may range from 200,000 forints to 10,000,000 forints due to unauthorized ESG contributory activities under Act 276/2025. (VIII. 21.) Government Decree.
All this can have unpleasant consequences for many experienced professionals – added Dr. Gergely Gábor Szabó. Someone can be an international authority, teach at a university, work on ESG projects for years, or be a serious lawyer, auditor, compliance expert or strategic consultant. If they do not meet the accreditation conditions and are not registered with the SZTFH, they cannot be treated as an ESG consultant.
From July 1, 2026, it is especially worth treating any website, offer or advertisement that can be interpreted as offering ESG consulting services with caution. Based on all this, it is worth reviewing all market players’ actual services and communication, and also using an accredited ESG consultant registered with the SZTFH for clients’ advisory activities in accordance with the ESG Act – emphasized Dr. Gergely Gábor Szabó, attorney.
Source: trademagazin.hu
