A study on the current situation of CSR in Cyprus was conducted during the first semester of the project. The key elements that outline the current situation of CSR in Cyprus are stated below briefly:
• The recognition of the importance of CSR but failure in integrating it in business decisions,
• The reduced involvement of Cypriot enterprises, mainly due to the lack of knowledge and confusion about the concept of CSR,
• The absence of an overall strategic direction for CSR affecting issues of systematic involvement, management issues, the implementation of international standards and communication,
• The current mentality of detachment of SMEs towards CSR,
• The limited implementation of accountability and reporting practices on CSR issues,
• The role of the public sector in the development of CSR defined as partially supportive whilst it could have developed more of an institutional and participatory character.
For the successful implementation of CSR in Cyprus, three key elements are required: a) the commitment of organizations that want to incorporate the concept into their business strategy, b) the dynamic intervention of civil society that requires and rewards responsible practices and c) active public interventions that form social objectives for creating a positive environment for the development of CSR.
Direction of CSR Activities by Cypriot Enterprises
SWOT Analysis of CSR current situation in Cyprus
