Sustainability is no longer a ‘nice to have’ option for businesses, it is in the core of the business strategies for future and an elixir to long term success.

It has become a core function of the Board of Directors of organisations and at Grant Thornton Cyprus we are here to help you integrate Sustainability in your strategies, with top industry professionals, always acting with diligence and professionalism.

There is an increasing number of regulations and more legislative and non-legislative initiatives at EU and international level are developed and deployed in regard to:

  • revising and transforming their business strategies aiming to provide sustainable outcomes
  • improving the quality of disclosed sustainability information via the creation of reporting guidelines/standards so that sustainability performance is more accurately and consistently communicated
  • integrating financial reporting with non-financial reporting
  • assisting financial institutions and investors make investment and business decisions incorporating Environmental, Social and Governance (ESG) criteria
  • promoting net zero emissions, energy efficiency, circular economy, and other sustainable practises
  • providing financial and non-financial aid to assist governments and organisations invest in sustainable technologies and practises.

You have the option to act proactively and lead the way for sustainability in your industry or wait until later.

There is however, a cost of inaction which can take the form of:

  • regulatory non-compliance
  • inability to compete in the market
  • ineffective resource allocation
  • increased operational costs in the long run
  • struggle to obtain finance and attract investors
  • weak brand value and reputation
  • difficult to attract and retain talents.

Our sustainability services

Sustainable strategy and capacity building

Our sustainability experts can help your company build a sustainable strategy by preparing a business case to ensure stakeholder and management buy-in, helping you prioritising focus areas based on your specific markets and value chain, building the right targets and measurable KPIs building the right partnerships with key stakeholders, finding the right metrics to evaluate the process and showing you how to be transparent with consumers about the company’s sustainability progress.

Main service components

  • sustainable strategy development
  • sustainable strategy audits (ESG audits)
  • seminars & training programs.


Sustainability reporting

Through sustainability reporting, our sustainability experts can help your company improve its corporate reputation, build consumer confidence, increase innovation and improve risk management by acting proactively. It will also help you better understand the opportunities and risks your organization might face and thus, enhance your competitive advantage.

Sustainability reporting improves your brand’s image, boosts your employees’ morale, enhances your business’ ability to comply with EU laws, and reduces the risk of governance and environmental failures.

Main service components

  • sustainability reporting (GRI, UNGC, ISO 26000)
  • non-financial reporting
  • materiality assessment
  • double materiality assessment
  • setting KBIs and KPIs
  • sustainability reporting assurance.
Sustainable supply chains

To provide a sustainable outcome, it is not sufficient to act within the walls of your organization. Sustainable operation also means a sustainable supply chain.

We can provide expert support and state of the art e-tools for the evaluation and improvement of the sustainability parameters of your organisation’s supply chain. This may involve training programs for your vendors, assessments and audits (remote or physical), online ongoing monitoring, rating and improvement follow up of your supply chain with a state-of-the-art rating and monitoring platform.

Main service components

  • supply chain sustainability ratings
  • green supply chain reports
  • green supply chain assurance
  • green supply chain audits.


Sustainable financial sector

Our sustainability experts can provide you with a personalised approach to your ESG and EU Taxonomy due diligence and valuation, looking at the actual risks identified in your company’s screening assessment. We can also help you integrate ESG into your business strategy, identify your material topics, understand your ESG ratings, align to global & regulatory frameworks and strive for ‘investment grade’ data. As ESG targets are met, green loan’s contractual cash flows (interest) will be adjusted accordingly, and contractual interest rates will be reduced for your company. Along with Grant Thornton’s risk services, we can help you introduce ESG criteria in the risk models of your portfolio of investments.

Main service components

  • sustainability risk management
  • review client investments from a sustainability perspective
  • ESG due diligence
  • ESG performance support
  • taxonomy obligations
  • sustainable accounting
  • green bonds (sustainability finance from the markets)
  • green lending (sustainability linked loans).


Sustainability ratings

Our sustainability experts can support your company prepare and achieve outstanding ESG ratings by carrying out internal screening and gap analysis, identify the quick wins and recommend long-term projects, fix the identified gaps, set up an ESG governance structure and select the ESG rating provider. However, Grant Thornton Cyprus sustainability team offers its own rating solution on which you can subscribe to be rated. The same tool offers a complete solution for ESG indexing and publishes ESG ratings for the companies registered on its indexing platform.

Main service components

  • ESG rating services
  • ESG rating support
  • ESG index publication.
Climate change

Our sustainability experts can offer you all round support for assessing the risks and opportunities for your company’s business model/value chain arising from a range of climate change scenarios and decarbonisation pathways.

Our services will include risk identification, scenario building, modelling and risk quantification, as well as integration within broader Enterprise Risk Management frameworks.

Additionally, we can leverage your company’s climate change audits in order to build a solid bridge between climate-related risks and corporate financial reporting.

Main service components

  • climate risk analysis and modelling
  • climate change audits.
Kyriakos Parpounas
Sustainability Leader
Kyriakos Parpounas
Kyriakos leads the sustainability department at Grant Thornton Cyprus.
Learn more about Kyriakos Parpounas
Kyriakos Parpounas
Sustainability Leader
Kyriakos Parpounas