Hellenic Bank on Monday released a statement reaffirming its leadership in sustainability by becoming the first company in Cyprus to voluntarily adopt the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS).

In doing so, the bank explained, it has established “a new benchmark for transparent and comprehensive sustainability reporting”, well ahead of the regulatory deadlines.

“Hellenic Bank is the first company in Cyprus to voluntarily adopt the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS), setting a new benchmark for transparent and comprehensive sustainability reporting,” the bank said.

The bank’s announcement coincided with the publication of its Sustainability Statement for the year ended December 31, 2024, marking what it described as “a significant milestone in its commitment to sustainability”.

The statement outlines progress and goals across three main pillars: environmental, social, and governance (ESG).

In the environmental area, the report includes details on energy consumption, greenhouse gas emissions, climate change mitigation actions, biodiversity and ecosystems, and waste management.

On social matters, the bank provides insights into workforce-related issues, human rights, data privacy, social inclusion, and the impact on consumers.

Regarding governance, the report highlights information on business conduct, corporate culture, and the roles of administrative, management, and supervisory bodies.

“Looking ahead, the bank plans to further enhance its sustainability efforts, by setting targets for reducing greenhouse gas emissions, increasing social inclusion programs, and strengthening governance practices in collaboration with Eurobank Group,” the announcement said.

“Hellenic Bank is committed to its ESG strategy goals and consistently plans actions to improve its impact on environmental sustainability, social responsibility, and corporate governance,” it added.

“By voluntarily adopting these standards ahead of their legal requirement, Hellenic Bank demonstrates leadership in sustainability and sets a benchmark for other companies in Cyprus,” the bank concluded.