Prof. dr. Igor Lončarski received the award for the article titled Sustainability and Sovereign Credit Risk, published in the International Review of Financial Analysis. The article explores the connection between sustainability factors, such as environmental, social, and governance (ESG) practices at the corporate level, and various measures of country risk. The analysis shows that more pronounced sustainability practices are negatively correlated with country risk—countries that are more sustainability-oriented have lower credit risk premiums. While this suggests potential long-term benefits of sustainability policies for national economies and investors, the authors cannot directly confirm causality between a country's sustainability orientation and country risk, as there is a significant impact from the development and wealth of countries on sustainability practices.