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The government of Cyprus has prepared a bill which should be adopted by the Parliament by the end of the year in an attempt to enforce the establishment of companies which adopt policies of corporate social responsibility, Finance Minister Harris Georgiades has said.

Addressing on Friday the 12th conference on corporate social responsibility which took place in Nicosia, the Minister said that the society requires all organizations and businesses to undertake their responsibilities and  account for their actions.

He added that increasing demands for transparency, responsible behavior and the need for everyone to contribute to sustainable development goals require businesses and organizations to adopt actions on the environment and the society.
 
Georgiades said that in this regard, the promotion of policies of corporate social responsibility gains significance and  also stems from the wishes of modern customers and investors, who show their preference to companies that are socially responsible, respect people, legislations, business ethics and the environment.

He added that an increasing number of companies understand this necessity and acknowledge that there are many and long term benefits that come from the implementation of such actions.

Source: StockWatch