Bank of Cyprus: Promoting Sustainability through a Sustainable Finance Framework

11:49 - 06 April 2023

Financial Services

Bank of Cyprus has announced the establishment of its Sustainable Finance Framework as part of its strategic priority to assist the country's transition into a more sustainable operating model.

According to a Bank announcement, the Framework will allow the Bank to issue Green, Social and Sustainable Bonds. The proceeds from issuance of such bonds will then be used by the Bank to finance sustainable projects.

As noted by Bank of Cyprus, such projects will include Renewable Energy, Energy Efficiency, Clean Transportation, Green Buildings, Access to Essential Services – Healthcare, and Employment Generation and SME Financing.

The Framework also aims to create a link between the bank’s ESG strategy and its funding strategy and aims to provide international and local investors with more opportunities to invest in sustainable developments in Cyprus.

The Framework is supported by a second-party opinion delivered by Moody’s assessing compliance of the Framework with the Green, Social and Sustainability Bond Principles as published by the International Capital Market Association (ICMA), Bank of Cyprus said.

For further details, please refer to the Bank’s website https://www.bankofcyprus.com/en-gb/group/investor-relations/fixed-income/sustainable-finance-framework/

Bank of Cyprus: Promoting Sustainability through a Sustainable Finance Framework

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