Environmental, Social and Governance has become the primary concern for the vast majority of company leaders in Cyprus and implementing it will contribute to long-term economic progress
Understanding Environmental, Social and Governance (ESG) is simple and straightforward. It is the consideration of an organisation’s information that respects social values, its behaviour towards the environment, its governance and its social commitment to make better decisions, which, if done correctly, should contribute to long-term economic progress. Incorporating ESG analysis with traditional financial elements improves our overall understanding of risk and opportunity, as well as long-term value outcomes.
As a result, ESG has become the primary concern for the vast majority of company leaders in Cyprus. With environmental issues topping the list on every organisation’s agenda, ESG is also becoming more relevant for financial institutions. Compared to many of Cyprus’ other sectors, the island’s banks, including financial services firms, have made considerable progress integrating ESG information and practices into their operations.