Corporate Sustainability Supporting Framework

Project facts

Project promoter:
Cyprus Authority for Cooperative Societies(CY)
Project Number:
CY-LOCALDEV-0001
Status:
Completed
Initial project cost:
€300,000
Final project cost:
€70,000

Description

The project aims to motivate and encourage businesses to behave responsibly towards the environment, move away from a growth alone perspective and to make sustainable development part of businesses’ core policy. This implies focusing both on economic and financial factors, as well as on environmental and social dimensions, thus contributing also to achieving the Global Sustainability Goals. The project will seek to enhance knowledge about and capabilities of businesses to adopt  Corporate Social Responsibility (CSR) principles and encourage them to adopt, in a structured manner, a CSR Strategy including measures reducing their negative impact on environment and society. In addition, it will also aim at increasing awareness of CSR among various stakeholders (consumers, investors, potential clients and the general public). 

Main activities shall include:

  • development of the Subsidising Scheme for the enterprises /organisations interested to adopt the Specification Tool (Corporate Sustainability Label); 
  • informative/training sessions on the benefits of CSR and the availability and the use of the Subsidising Scheme and Tool;
  • awareness-raising campaign on CSR;
  • issuance of CSR certificates to the businesses and organisations that have successfully met the Specification’s criteria and development of the registry of certified enterprises.

Summary of project results

The project aimed to strengthen the knowledge and capabilities of businesses, regarding Corporate Social Responsibility and the coordination between interested parties and is expected to result in the development of a Corporate Sustainability Support Framework.

Design and development of a CSR Registry, launch of an information campaign and raising awareness of businesses and delivery of informative/educational days in all cities in relation to CSR, the adoption of the national CSR specification, the benefits for businesses and their registration in the state CSR Registry.

Businesses that will receive certification from an accredited body for the adoption of the national CSR specification and will be registered in the state CSR Registry will receive a registration certificate.

Information on the projects funded by the EEA and Norway Grants is provided by the Programme and Fund Operators in the Beneficiary States, who are responsible for the completeness and accuracy of this information.