ESG Disclosures

PART A - Task Force on Climate-related Financial Disclosures (TCFD)

Climate change is a reality, with extreme weather events happening more and more frequently such as this year’s unprecedented snow-storms and wildfires in Europe. This trend will have catastrophic impact to the planet; for reversing it, drastic action is needed. The EU has committed to reach net zero emissions by 2050 (with 2030 other intermediate targets) and now each country must define its own, optimum pathway to reach Net Zero. The global focus, in 2023, was climate and environmental related issues with events such as Conference of Parties (‘COP’) 28 on climate change, keeping these topics to the forefront of public and political discourse. The results of the world’s efforts to address climate change under the Paris agreement were presented for the first time on COP28. Having shown that progress was too slow across all areas of climate action, countries responded with a decision on how to accelerate action across all areas by 2030. This includes a call on governments to speed up the transition away from fossil fuels to renewables such as wind and solar power in their next round of climate commitments. As part of its vision to be the leading financial hub in Cyprus, the Group is determined to lead the transition of Cyprus to a sustainable future. The Group systematically moves forward to the alignment with sustainable banking and continues to embed Environmental, Social and Governance (‘ESG’) in its infrastructure, strategies and policies. The Group’s commitment to integrate climate risk considerations into all relevant aspects of the decision-making, governance, strategy and risk management highlights the Group’s aspiration to be a frontrunner in the climate space in Cyprus. This is the second TCFD report published by the Company, presenting the current activities and future plans in the climate field.

PART B - EU Taxonomy Disclosures in accordance with Article 8 of the Taxonomy Regulation

PART C - Non-financial information statement

The Group plays a key role in driving economic growth of Cyprus with a long presence and a dominant market position. Sustainable development, social progress, environmental integrity, climate stability and a viable economy are all among the Group’s key targets for 2023 and beyond. The Group publishes its Annual Non-Financial Results based on the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB) guidelines and standards, which identify and include all the above information.

ESG Disclosures 2023

Additional Information – EU Taxonomy Disclosure Tables 2023

ESG Disclosures 2022