The CSR experience in Cyprus

Abstract

Cypriot companies have begun in recent years to take CSR more seriously2 and to realise that CSR is not simply helping out disadvantaged groups and the government when they needed to build a bridge or a park, but forming strategic plans, appointing an employee in charge of CSR and proving that they are ethical. Two Charters were set up, one following a European project and the other being an initiative of the Cyprus Chamber of Commerce and Industry. The former, the European Road Safety Charter was signed by 82 companies and the latter, the Climate Change signed by 56 companies. As far as the legislative and regulatory framework is concerned the Cyprus Chamber of Commerce and Industry has created a platform for Corporate Responsibility. This platform, which is in constant evolution, promotes, supports and enhances the interest of businesses in Cyprus to integrate in their strategy effective corporate responsibility activities. The aim is to improve economic performance, enhance their ability to manage risk and maximise their positive impact on society and the environment. The Cyprus Chamber of Commerce and Industry has further proceeded to the development of a tool that can help companies measure their emission reductions. The signing of 56 Cypriot businesses, including larger firms in Cyprus, of the Charter on Climate Change is a very important first step towards sustainable development and achieving the targets for reducing greenhouse gas emissions.