• Symeon Pogosian LLC

Cyprus soon to adopt ‘Corporate Social Responsibility Policies’

Reporting to Cyprus News Agency, Finance Minister Harris Georgiades said that the government of Cyprus has constructed a new bill to be adopted by the Parliament by the end of the year, with the aim to enforce the establishment of companies which adopt policies of corporate social responsibility.

During his speech at the 12th conference on ‘Corporate Social Responsibility’ which took place in Nicosia, Georgiades said that the society requires all organizations and businesses to undertake their responsibilities and account for their actions.

He further added that, “increasing demands for transparency, responsible behavior and the need for everyone to contribute to sustainable development goals require businesses and organizations to adopt actions on the environment and the society.”

Georgiades also highlighted that: “the promotion of policies of corporate social responsibility gains significance and also stems from the wishes of modern customers and investors, who show their preference to companies that are socially responsible, respect people, legislations, business ethics and the environment.”

Finally, he noted that an increasing number of companies understand this necessity and acknowledge that there are many and long term benefits that come from the implementation of such actions.

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