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The conference will consist of top ranked speakers, giving delegates the opportunity to exchange views and learn about ESG, with the industry specializing in this topic.
Compliance Becomes Paramount: In 2024, sustainability reporting will shift from voluntary to mandatory, driven by regulatory and international body rulings like the CSRD. Businesses must prepare for a significant change in how they report their sustainability impacts. Compliance with new requirements will be a top concern for companies, impacting both publicly and privately held entities.
Greenwashing Consequences: Criticisms of misleading corporate sustainability efforts will be met with stronger legal definitions and consequences. Recent cases, such as the European asset manager’s $19 million charge over misleading ESG disclosures, highlight the importance of adhering to regulatory requirements. ESG teams will work closely with communication and marketing teams to ensure accurate and compliant environmental messaging. Finance and ESG Integration: The integration of finances with sustainability and ESG is becoming the responsibility of CFOs and financial controllers. Carbon emissions are now both an asset and a liability, as companies contemplate global carbon pricing and mandated carbon removal. ESG teams will collaborate closely with finance and risk management teams to navigate these financial implications. Scope 3 Emissions and Supply Chain Transparency: Scope 3 emissions account for a substantial portion of a company’s greenhouse gas footprint. Consumers demand better transparency regarding product footprints and lifecycles, prompting companies to focus on supply chain transparency and disclosure. ESG-focused procurement policies and working with suppliers to improve data collection and environmental and social impact will become essential. SMEs Enter the ESG Realm: Sustainability reporting extends beyond public-listed companies into the SME realm. New climate disclosure laws encompass both public and private companies, especially in scope 3 emissions reporting. This extends the reporting burden to suppliers, leading to significant changes in various industries as all companies work to meet the requirements of larger entities in their field.
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The Forum
Businesses today can no longer afford to ignore sustainability. With climate change intensifying and environmental regulations tightening, sustainability has evolved from an optional corporate social responsibility (CSR) initiative to a business imperative.
Building a future-forward business means embedding sustainability at the сore of your strategic planning. But how exactly do you develop an impactful sustainable business strategy? Cyprus Sustainability Forum 2024 focuses on the step-by-step process of developing an effective, sustainable business strategy through identifying material ESG issues, exploring risks and opportunities, and activating solutions across your value chain. By weaving environmental and social values into our DNA, we can future-proof our model, engage stakeholders, and unlock new profit pools.
Cyprus Sustainability Forum will, among others, focus on:
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