CSRD Cyprus – ESG Reporting & Sustainability Compliance Guide | GreenNest Solutions

What is CSRD and Why Does It Matter for Businesses in Cyprus?

The Corporate Sustainability Reporting Directive (CSRD) is one of the most significant regulatory changes in the European Union’s ESG landscape. It mandates thousands of companies—including many in Cyprus—to disclose their sustainability performance with detailed Environmental, Social, and Governance (ESG) data.

If your company operates in Cyprus and meets certain size or revenue thresholds, you will need to comply with CSRD starting as early as 2025. Failing to do so could result in fines, reputational risks, and barriers to securing funding.

Who in Cyprus is Affected by CSRD?

Under the new rules, large companies and listed SMEs must provide ESG disclosures aligned with European Sustainability Reporting Standards (ESRS). This means companies in Cyprus must report on:

✅ Carbon footprint and greenhouse gas (GHG) emissions
✅ Social responsibility, diversity, and labor rights
✅ Environmental impact, energy efficiency, and circular economy efforts
✅ Sustainable supply chains and risk assessments

💡 If your business falls into one of the following categories, you must comply with CSRD:
• Large companies with 250+ employees or €40M revenue or €20M in assets
• SMEs listed on EU-regulated markets
• Non-EU companies with significant EU-based subsidiaries

Why CSRD Compliance is a Game-Changer for Cyprus Businesses

How CSRD Compliance Boosts Business Success in Cyprus

✅ Regulatory Pressure: Companies failing to comply risk legal and financial penalties.

✅ Cost Savings: Sustainable practices reduce operational costs, especially in Cyprus, where energy prices and waste management costs are rising.

✅ Investor & Lender Expectations: Banks and investors prioritize ESG-aligned companies, affecting financing and partnerships.

✅ Competitive Advantage: ESG transparency attracts eco-conscious customers and business partners.

How Can Cyprus Businesses Prepare for CSRD?

🚀 1. Conduct a CSRD Readiness Assessment

• Identify ESG data gaps and missing disclosures.
• Evaluate carbon footprint, energy use, and sustainability policies.

📊 2. Implement a Sustainability Strategy

• Align with EU Green Deal, Sustainable Finance Disclosure Regulation (SFDR), and Circular Economy goals.
• Develop clear ESG policies to meet reporting requirements.

🔎 3. Improve ESG Data Collection & Reporting

• Track and report emissions, energy, and social impact.
• Align reports with European Sustainability Reporting Standards (ESRS).

📢 4. Partner with an ESG Consultant

• Avoid compliance risks by working with experts in CSRD and sustainability.
• Ensure accurate, transparent ESG reporting.

Need Help With CSRD Compliance in Cyprus?

At GreenNest Solutions Ltd., we help businesses in Cyprus navigate CSRD compliance, ESG reporting, and sustainability strategy.

📩 Contact us today for a free consultation on how to prepare your company for CSRD and EU sustainability regulations.

Get in touch

Navigating CSRD compliance can be complex, but GreenNest Solutions Ltd. is here to help. Contact us today for expert ESG consulting, sustainability reporting, and compliance solutions tailored for businesses in Cyprus.