CYPRadar 🇨🇾💰 Over 1,200 Cypriot businesses advance in ESG adoption through Synesgy platform
More than 1,200 Cypriot companies have completed their Environmental, Social, and Governance (ESG) assessments via the Synesgy platform, marking steady progress two years after the Interbank ESG project launch. Artemis Credit Bureau, managing the initiative in collaboration with ICAP CRIF, reported that out of 2,319 invited businesses, 1,213 have participated, representing a strong response given Cyprus’s emerging sustainability market.
Notably, small and medium-sized enterprises (SMEs), which constitute 90% of the certified businesses, have taken significant steps despite not being legally required to disclose sustainability data. This underscores the sector's recognition of ESG factors as integral to resilience, competitiveness, and future growth opportunities.
Assessment results averaged a ‘C’ grade, consistent with international benchmarks on the Synesgy platform and indicating gradual market maturation. Progress was seen across environmental management, social responsibility practices, and corporate governance structures, reflecting a broad commitment to enhancing transparency, accountability, and sustainable development in Cypriot business practices.
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