New trends and challenges reshaping the business environment, and the future of shipping in Cyprus, were the focus of a Limassol conference organised this week by PwC Cyprus, attended by over 50 senior executives from the sector and the Shipping Deputy Ministry.

Speaking at the event, PwC Cyprus Partner and ESG Platform Leader Antonis Christodoulides analysed the impact of Environmental, Social and Governance (ESG) factors on shipping. Given that ESG aims, holistically, to cover and coordinate all corporate actions related to the environment, society and corporate governance, organisations’ operations and their social impact are subject to substantial change.

Addressing participants thereafter, Cleo Papadopoulou, Partner, In charge of Transportation and Logistics, and Inclusion and Diversity Leader at PwC, spoke on the benefits of inclusive environments, as well as of ways of achieving workplace inclusion and diversity.

PwC Investment Services Managing Director Omiros Pissarides also presented on how PwC Cyprus can support its clients with investment services and provident funds transfer and monitoring, as well as via research and analysis services.

Furthermore, the conference raised issues such as unlocking business value through data and automation, the role of technology, transfer pricing documentation regulations and cybersecurity issues.

Bringing it all together, Ms. Papadopoulou stressed the importance of shipping for the Cypriot economy, noting that “global trends that include, among other things, the evolution of technology and climate change in combination with local developments in various sectors, give rise to significant challenges as well as opportunities for businesses”.

“Our team of professionals has always supported the shipping industry, helping companies to create and implement effective strategies for the future,” she said.