The business environment is rapidly changing with the development of various legislative and non-legislative environmental, social and corporate governance (ESG) initiatives, especially in the European Union (EU).
An article co-authored by Elias Neocleous & Co LLC Associates Katerina Krassa and Annabelle Antoniadou, and published in the Phileleftheros, provides a brief insight as to the core values and increasing role of ESG principles in relation to adding value and enhancing the economic performance of global businesses, that are rapidly increasing awareness and adjusting to the demands that the said principles call for.
Specifically, the article analyses the increasing demand of ESG principles and their subsequent effect on financial institutions' decision-making in relation to funding enterprises. As a result of the now- firmly established ESG principles, businesses are urged to cast off greenwashing, commit to sustainability and transparency, and generally abide by the said principles to ensure that the global financial institutions will grant the funding of their projects and most importantly, that stakeholders will applaud of their stance on the ever-growing importance of ESG values.
Moreover, the article explores the increasing demand of implementing ESG within the construction industry, which has proven crucial in prompting socially aware investors to selectively fund projects found to be in alignment with ESG ideologies, as they are slowly but surely being formed into imperative principles through legislation.
The full version of the article in Greek can be found on Phileleftheros here.
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