July 5, 2019

Corporate Responsibility & Sustainability

The 12th Corporate Social Responsibility (“CSR”) Conference was held on 5 July 2019 at Hilton Park Hotel in Nicosia, Cyprus. The Conference consisted of participants from Cyprus, Greece, UK and USA. The presentations made at the Conference ranged from guidance to companies about what investors, partners and customers need to know regarding companies’ sustainability strategy, embedding the UN Sustainable Development Goals (“SDGs”) into business and how digital solutions help achieve the SDGs.

Additionally, the award ceremony for best practices of  CSR and Sustainability was held, through the initiative of CSR Cyprus. The purpose of the ceremony is to highlight the contribution of businesses in managing an array of topics concerning such businesses as well as interested parties, through the design and implementation of CSR and Sustainability initiatives. The winners were the University of Nicosia and the Vassiliko Cement Works PLC, respectively, for the “Mentor” and “Talent Academy” programmes.

CSE is the responsibility of businesses on the impact to the economy, society and the environment.  Indeed, sustainability is on the rise. Particularly considering that the Return on Investment (ROI) for assets and equity increases in companies that invest in CSR and Sustainability. Moreover, a substantial proportion of investors claim that they intend to remove funds from companies not investing in CSR and Sustainability. Consequently, any CSR and Sustainability policy should be correlated to the Business Plan of the company in question.

As a result, the development and implementation of an official, effective CSR and Sustainability policy can provide a competitive edge to such committed organisations. The burden seems to lie heavily on private rather than public organisations. However, efficient collaboration is required between all stakeholders involved.

Importantly, a policy must be customized subject to the specific organisation and industry concerned to have a meaningful impact. Hence, companies must select the SDGs most relevant to their operations that will build on their brand name and responsibility. Such approach requires implementation of best practices through appropriate Key Performance Indicators (KPIs), and stakeholder awareness, to change corporate culture. These actions must be consistently measured and reported in order to be configured as needed.

We advise on a broad variety of local, EU and international environmental and natural resources matters. Given the ongoing course of globalisation, a carefully balanced exercise is required by all stakeholders of a business to comply with environmental regulation. The environmental legal framework must be strategically used to combat critical environmental problems, in the best interest of current and future generations.

We design tailor-made CSR and Sustainability policies for local and international, SMEs and large organisations.

Please do not hesitate to contact us if you require any related advice or support.

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K. A. Kourtellos & Co LLC is regulated by the Cyprus Bar Association
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