Artemis advances standardised ESG assessments for Cyprus businesses

Nicosia, Cyprus. Artemis Credit Bureau has helped Cypriot companies adopt standardised environmental, social and governance (ESG) assessments using an international platform supporting sustainable finance, the Association of Cyprus Banks (ACB) said on Tuesday. Artemis is an ACB subsidiary.

A shared framework for sustainability assessments

According to the association, the initiative uses Synesgy, a platform created by the international CRIF group that enables businesses to assess both their own sustainability performance and that of their supply chains.

ACB said the platform offers banks a shared, transparent framework for ESG assessments. It helps businesses understand their sustainability profiles and allows lenders to assess risks and allocate green financing more effectively.

ACB general manager Marios Skandalis said Artemis had helped guide Cypriot businesses towards sustainability through Synesgy and its framework for assessments across banks.

Preparing businesses for European requirements

The association said Artemis had conducted information campaigns nationwide and delivered presentations to businesses and economic stakeholders in Cyprus, preparing the market before European requirements took effect locally.

According to ACB, the outreach sought to demonstrate to companies of every size that ESG criteria were more than a compliance requirement. It presented them as a strategic means of strengthening competitiveness, obtaining financing and supporting sustainability over the long term.

Annual conference and recognition

The association said the initiative had expanded to include the annual Credit Risk and Sustainability Management Conference, jointly organised by Artemis Credit Bureau and its strategic partner, ICAP CRIF.

This year’s conference also featured special awards titled “Proud Partner for Sustainability”, recognising companies for responsible practices and their contribution to sustainability throughout Cyprus’ economy, ACB said.

Artemis Credit Bureau general manager Yiannis Tomasides said moving towards a sustainable economy depended on collaboration, practical tools and guidance.

He said Artemis had consistently supported Cypriot businesses during the past three years. Tomasides identified Synesgy, continuing information activities, and the annual conference and awards as contributions to strengthening the ESG ecosystem in Cyprus.