The American Chamber of Commerce in Cyprus (AmCham Cyprus) successfully hosted the event “ESG: Transforming the Economy,” bringing together leaders, experts, and professionals to address the critical role of Environmental, Social, and Governance (ESG) factors in shaping the future of commerce and industry.
With a hundred (100) participants, including CEOs, policymakers, sustainability professionals, and compliance officers, the event created a dynamic platform for dialogue, collaboration, and innovation. The agenda featured keynote speeches, interactive sessions and discussions led by distinguished speakers who are renowned for their expertise and leadership in ESG:
►Ms. Louiza Papageorgiou, Public and Government Affairs Manager at ExxonMobil Cyprus, Chairperson of AmCham’s Committee on Energy and Sustainability: As the event’s moderator and a key contributor, Ms. Papageorgiou opened the discussion and emphasized the role of collaborations in driving ESG forward. She highlighted the importance of aligning business practices with sustainability goals and creating partnerships to ensure a shared commitment to ESG integration across industries.
►Mr. Christos M. Paschalides, Economic Counsellor at the Representation of the European Commission in Cyprus. In his speech titled “Making Europe Simpler and Faster,” Mr. Paschalides outlined the European Union’s initiatives and strategies to support ESG integration. He discussed the simplification of regulations such as the Corporate Sustainability Reporting Directive (CSRD), emphasizing how these policies aim to empower businesses in Cyprus and Europe to adopt effective ESG frameworks while remaining competitive in global markets.
► Ms. Antonia Theodosiou, Commissioner for the Environment: Ms. Theodosiou delivered a compelling presentation on “ESG as a Cornerstone of Business Strategy: Embedding ESG in Public Sector and Business Practices.” She explored the interconnected roles of public and private sectors in advancing sustainable practices and demonstrated how businesses can integrate ESG principles into their strategies and how these contribute to environmental protection and societal well-being.
► Dr. George Theocharides, Chairman of the Cyprus Securities and Exchange Commission (CySEC): In his talk on “ESG in Financial Services: Upcoming Developments and Ensuing Obligations,” Dr. Theocharides discussed about the EU sustainability regulatory framework and the state of the ESG Industry in Cyprus, explaining the various actions that CySEC is taking to monitor the compliance of the industry but also educate investors about the market.
► Mr. Mark Lumsdon-Taylor, Partner at MHA, UK Member of Baker Tilly International: Mr. Lumsdon-Taylor’s engaging session, “ESG Compliance Bootcamp: What You Need to Do to Get the Basics Right,” provided a practical guide for businesses starting their ESG journey. He emphasized the importance of measurable ESG outcomes, actionable steps for compliance, and ensuring alignment with global best practices. His presentation included tools and frameworks for effectively mapping and managing emissions and other ESG factors, as well as building a competitive edge through sustainability.
Key outcomes of the event included:
- Knowledge Sharing: Attendees gained valuable insights into ESG legislation, such as the Corporate Sustainability Reporting Directive (CSRD), and practical strategies for integrating ESG into business operations.
- Best Practices: Discussions centered on innovative approaches to managing emissions, green financing, and establishing competitive advantages through ESG.
- Commitment to Action: The event emphasized the importance of collaboration between the public and private sectors in advancing ESG compliance and sustainability initiatives.
The Secretary General of Cyprus Chamber of Commerce and Industry, Mr. Philokypros Roussounides, commented: “This event has underscored the importance of ESG as an economic imperative. It is only through collaboration, shared knowledge, and proactive measures that we can drive transformative change for a more resilient and sustainable future.”
The event concluded with a vibrant networking session, where participants connected and explored synergies to propel ESG initiatives forward.
For the presentations of the speakers, please use the relevant links.
Presentation Mr. Mark Lumdson – Taylor
Presentation Mr. Christos Paschalides