March 2010 April 2010 May 2010 June 2010 July 2010
August 2010
September 2010 October 2010
November 2010
December 2010
January 2011
February 2011 March 2011 April 2011 May 2011 June 2011 July 2011 August 2011 September 2011 October 2011 November 2011 December 2011 January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 January 2013 February 2013 March 2013 April 2013 May 2013 June 2013 July 2013 August 2013 September 2013 October 2013 November 2013 December 2013 January 2014 February 2014 March 2014 April 2014 May 2014 June 2014 July 2014 August 2014 September 2014 October 2014 November 2014 December 2014 January 2015 February 2015 March 2015 April 2015 May 2015 June 2015 July 2015 August 2015 September 2015 October 2015 November 2015 December 2015 January 2016 February 2016 March 2016 April 2016 May 2016 June 2016 July 2016 August 2016 September 2016 October 2016 November 2016 December 2016 January 2017 February 2017 March 2017 April 2017 May 2017 June 2017 July 2017 August 2017 September 2017 October 2017 November 2017 December 2017 January 2018 February 2018 March 2018 April 2018 May 2018 June 2018 July 2018 August 2018 September 2018 October 2018 November 2018 December 2018 January 2019 February 2019 March 2019 April 2019 May 2019 June 2019 July 2019 August 2019 September 2019 October 2019 November 2019 December 2019 January 2020 February 2020 March 2020 April 2020 May 2020 June 2020 July 2020 August 2020 September 2020 October 2020 November 2020 December 2020 January 2021 February 2021 March 2021 April 2021 May 2021 June 2021 July 2021 August 2021 September 2021 October 2021 November 2021 December 2021 January 2022 February 2022 March 2022 April 2022 May 2022 June 2022 July 2022 August 2022 September 2022 October 2022 November 2022 December 2022 January 2023 February 2023 March 2023 April 2023 May 2023 June 2023 July 2023 August 2023 September 2023 October 2023 November 2023 December 2023 January 2024 February 2024 March 2024 April 2024
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
News Every Day |

Annita Pavlou: Manager of Investor Relations & ESG, Bank of Cyprus

Our commitment is our adherence to the UN’s Principles of Responsible Banking, a unique framework for sustainable banking developed through a collaboration between banks worldwide and the United Nations Environment Programme Finance Initiative, says Annita Pavlou

Practically, how do you integrate ESG principles into your bank’s core strategies and operations?

The integration of ESG principles into our operations is multifaceted and deeply embedded in our strategic framework. A standout example of our commitment is our adherence to the UN’s Principles of Responsible Banking, a unique framework for sustainable banking developed through a collaboration between banks worldwide and the United Nations Environment Programme Finance Initiative (UNEP FI).

It aligns the operational and strategic facets of banks with the broader vision articulated by society, encapsulated in the UN Sustainable Development Goals and the Paris Climate Agreement. By becoming signatories, we join the largest global banking community committed to sustainable finance, engaging in the exchange of best practices and collaborative development of innovative tools and guidance for the benefit of the banking industry at large.

Signatory banks essentially commit to adopting the six Principles of Responsible Banking:

  • Alignment
  • Impact & Target setting
  • Clients & Customers
  • Stakeholders
  • Governance and Culture
  • Transparency and Accountability

In practice, signatories commit to align their business strategy with individual needs and society’s goals as these are expressed in the UN Sustainable Development Goals, the Paris Climate Agreement, and relevant national and regional frameworks, to enhance their positive impact on people and the environment by limiting any adverse consequences from their operations, to work responsibly with their clients to encourage sustainable practices, to consult and partner with stakeholders to achieve society’s goals, to implement their commitment to the principles through effective corporate governance and a culture of responsible banking, and to be accountable and transparent in disclosing their progress in implementing these principles and their impact on the bank.

How do you engage with stakeholders (e.g., investors, customers, employees) on ESG issues? Are they concerned about these issues?

Engagement with stakeholders on ESG issues is a critical component of our operational ethos. Our investors, clients, and employees are increasingly attuned to the importance of ESG considerations, each viewing them through the lens of their specific interests and concerns. This collective awareness underscores the universal significance of embedding ESG criteria into our business practices to ensure a sustainable future for all parties involved.

Our response to the growing demand from investors and shareholders for robust ESG practices is proactive and comprehensive. We offer support to our clients through environmentally friendly products and services, encouraging sustainable practices that contribute to economic activities capable of generating shared prosperity for both current and future generations. This responsible engagement with clients and stakeholders is part of our broader commitment to societal goals, including effective governance and a culture of responsible banking. Regular reviews of our adherence to these principles ensure that we remain transparent and accountable, both in terms of our positive impacts and our efforts to mitigate adverse effects.

Moreover, our initiatives extend beyond mere compliance with ESG principles. We actively assess our impact on the environment and society, setting ambitious goals in areas where we can make the most significant difference and openly disclosing our progress. Our commitment also involves a systematic approach to risk assessment and opportunity identification in the transition to a more sustainable economy. For example, our new lending strategies now prioritise financing for energy-efficient residential properties, in line with the Green Loan Principles (GLP) of the Loan Market Association (LMA). This approach not only supports the decarbonisation targets but also enriches our engagement with stakeholders, enhancing our contributions to societal well-being in key areas such as healthcare, education, and environmental sustainability.

In addition, our contribution to society is constantly expanding in a meaningful manner, particularly in the areas of healthcare, education and the environment. An example of the above are the recent educational programmes concerning financial literacy, which are offered to the public and will be extended to schools. We want to help people learn basic financial concepts and familiarise themselves with modern methods of conducting banking. With regards to our people, we continue to offer learning and development opportunities, capitalising on the latest training methods. We also offer wellness programmes aiming to enhance mental, physical, financial and social health.


boc enters unepHow do you assess the environmental or social impact of your actions but also of your lending decisions?

Our approach to assessing the environmental and social impacts of our actions and lending decisions is both strategic and targeted. Throughout 2023, we embarked on several key initiatives, including the following:

  • Set decarbonisation targets on Scope 1 and Scope 2 greenhouse has (GHG) emissions of the Group
  • Set decarbonisation tarqets on Mortgage portfolio
  • Designed the strategy to meet the decarbonisation targets set
  • Estimated the Scope 3 GHG emissions of loan, investment and insurance portfolio (based on methodology availability) by applying PCAF standard and proxies
  • Published the first TCFD report, Pillar 3 disclosures on ESG risks and the sixth Sustainability report
  • Established a structured and detailed Business Environment Scan process on C&E risks
  • Launched ESG questionnaires in the loan origination
  • Restricted lending and investment in specific carbon-intensive sectors
  • Set Green new lending targets
  • Developed a Sustainable Finance Framework
  • Launched a Green Housing product by applying the GLPs of LMA
  • Established thorough sustainability Governance arrangements
  • Performed Board of Directors, Senior Management and Control functions ESG trainings

For 2024 we are already implementing equally significant priorities. These priorities are directly related with our most important stakeholders; our clients, our regulators, our investors, our people.

Looking ahead, what do you perceive as the most significant ESG challenges and opportunities for the Bank of Cyprus over the next five-ten years?

As we navigate the path toward sustainable transformation, we recognise both the immense responsibilities and opportunities that lie ahead. Our proactive stance and leadership in the sector have positioned us at the forefront of the sustainable transformation, not just within the financial industry but across the entire Cypriot economy.

Our goals for the coming decade are bold yet achievable: achieving Carbon Neutrality by 2030, reaching Net Zero emissions by 2050, and consistently increasing our Green Asset and Mortgage Ratios. These ambitious targets reflect our dedication to exceeding expectations and our commitment to making a positive impact on our planet, society, and the individuals within it. Our actions and achievements to date, validated by independent rating agencies, demonstrate our capability and resolve to lead by example in the sustainable transformation journey.

Finally, how does your bank ensure compliance with national and international ESG-related regulations?

Our approach to regulatory compliance transcends mere adherence to existing standards. We strive to lead by example, often achieving regulatory milestones well ahead of prescribed deadlines. A testament to this proactive approach is our early achievement of gender diversity targets within our executive ranks, a goal that was set for 2030 but accomplished much sooner with the appointment of new female General Managers. This achievement demonstrates our commitment to equal opportunities, an inclusive culture but and our broader governance policies designed to sustain stakeholder confidence and create shareholder value.

Furthermore, we are intensifying our efforts to be compliant with the new Corporate Sustainability Reporting Directive (effective for FY2024) which modernises and strengthens the rules concerning the environmental, social and governance information that we have to report. The CSRD aims to ensure that investors and other stakeholders have access to the information they need to assess the impact of companies on people and the environment and for investors to assess financial risks and opportunities arising from climate change and other sustainability issues. Simultaneously, we aim to be aligned with ECB’s expectations defined by ECB’s Guide on Climate related and Environmental risks and EU Taxonomy.


Сергей Собянин. Главное за день

The Masters 2024: Rory McIlroy feels he can still win at Augusta National despite swing ‘feeling horrific’ in round two

The Masters 2024 prize money: How much does Green Jacket winner take home from Augusta National?

Nvidia employees are getting richer with a 'special Jensen grant' that boosts their stock awards by 25%

Couple who won Come Dine With Me posed as customs officers to steal drugs as part of scam

Read also

NE Portland street takeover leads to arrests, tows, gun

Rockets beat playoff-bound Clippers 116-105 to salvage a .500 season. Kawhi Leonard still out for LA

Here's the latest severe storm timeline

News, articles, comments, with a minute-by-minute update, now on

News Every Day

The Masters 2024: Rory McIlroy feels he can still win at Augusta National despite swing ‘feeling horrific’ in round two — latest news 24/7. You can add your news instantly now — here

News Every Day

Couple who won Come Dine With Me posed as customs officers to steal drugs as part of scam

Sports today

Новости тенниса
Ана Иванович

Любимые брюки Аны Иванович и Елены Джокович

Спорт в России и мире

Более 30 студентов академии физкультуры осудили за дачу взяток профессору

All sports news today

Sports in Russia today


Экс-футболист Деменко призвал назначить в "Спартак" российского тренера

Новости России

Game News

In this strategy city builder you'll grow your capital through 2,500 years of history


"Предстоящая встреча Путина и Пашиняна может стать переломным моментом в российско-армянских отношениях": Михаил Александров

Губернаторы России

В России пройдет масштабный Фестиваль национальных театров

Подключение системы теплого пола в Москве и Московской области

"Вопреки глубоким разногласиям". США передали России данные по теракту в "Крокусе"

Шапки женские на Wildberries — скидки от 398 руб. (на новые оттенки)

Постпред Ульянов рассказал о причине обострения ситуации на Ближнем Востоке

Шапки женские вязаные на Wildberries, 2024 — новый цвет от 392 руб. (модель 466)

Оззи Осборн «решил» поправить здоровье в Ставропольском крае

SHOT: Социальный фонд РФ выиграл у рэпера Сереги суд из-за долга в 500 рублей

Shot: Социальный фонд России отсудил у певца Сереги 500 рублей

Юлия Путинцева выразила отношение к выступлениям за сборную Казахстана

Любимые брюки Аны Иванович и Елены Джокович

WTA вынесла вердикт Рыбакиной в противостоянии со Швентек и Соболенко

Казахстан разгромили в «Кубке Билли Джин Кинг»

Travel-эксперт Тариел Гажиенко: как сделать индивидуальный тур дешевле


Шапки женские вязаные на Wildberries, 2024 — новый цвет от 392 руб. (модель 466)

Кредиты оказались чисто женскими // По делу о хищении средств Промсвязьбанка судят лишь предполагаемых исполнителей

Собянин рассказал о грантах для разработчиков образовательных материалов МЭШ

"Спартак" ни разу не выиграл в гостях у "Сочи" в матчах РПЛ

"Локомотив" и ЦСКА забили 6 мячей в рамках РПЛ

К ДНЮ ВЕЛИКОЙ ПОБЕДЫ !!! Военная проза русского вологодского писателя Андрея Малышева

Генерал Деспорт: "Русские боятся Францию даже больше, чем США"

Эксперт назвала предпочтения покупателей жилья: «Хотелось бы дешевле»

В Санкт-Петербурге курьер спас российского 97-летнего ветерана от мошенников

Дочь Леонида Агутина и Анжелики Варум выходит замуж

Путин в России и мире

Персональные новости

Певец Николай Расторгуев назвал полной ерундой массовую отмену концертов "Любэ"

News Every Day

Couple who won Come Dine With Me posed as customs officers to steal drugs as part of scam

Friends of Today24

Музыкальные новости

Персональные новости