{"id":991201,"date":"2025-03-06T13:00:00","date_gmt":"2025-03-06T11:00:00","guid":{"rendered":"https:\/\/staging.cpakudos.gr\/cpa-kudos-greece-and-mrb-hellas-survey-the-application-of-esg-criteria-in-greece\/"},"modified":"2025-05-30T09:10:47","modified_gmt":"2025-05-30T07:10:47","slug":"cpa-kudos-greece-and-mrb-hellas-survey-the-application-of-esg-criteria-in-greece","status":"publish","type":"post","link":"https:\/\/staging.cpakudos.gr\/en\/cpa-kudos-greece-and-mrb-hellas-survey-the-application-of-esg-criteria-in-greece\/","title":{"rendered":"CPA Kudos Greece and MRB Hellas survey: the application of ESG criteria in Greece"},"content":{"rendered":"
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Two-speed and horizontal implementation of ESG criteria in Greece<\/strong>: Small and medium-sized enterprises lagging behind<\/strong><\/p>\n\n

The catalytic role played by SMEs, as the backbone of the Greek economy, in the sustainable transformation of the Greek economy is highlighted by the research \u201cESG and SMEs\u201d<\/strong> conducted by MRB Hellas<\/strong> on behalf of CPA Kudos Greece.<\/strong><\/p>\n\n

Challenges and opportunities<\/u><\/em><\/p>\n\n

As the survey findings show, 34%<\/strong> of respondents could <\/strong> not answer the question what <\/strong>ESG<\/strong> is <\/strong>, while a large percentage of respondents identified the concept of sustainability with the existence of environmental policies rather than with social responsibility or corporate governance.<\/p>\n\n

Despite the fact that the study finds that SMEs are unaware of the definition of ESG, there is a paradoxically positive inclination towards the relevant legislation, with 68.3% of<\/strong> SMEs acknowledging its necessity<\/strong>. In the same context, the vast majority of companies consider the implementation of ESG policies by companies of all sizes to be a positive development, with more than 60% of responses<\/strong>. These percentages indicate that there is fertile ground for SMEs to comply with ESG criteria.<\/p>\n\n

Existing gap between large and small businesses<\/u><\/em><\/p>\n\n

32.5% <\/strong>of the companies that participated in the survey stated that they implement ESG policies in their company<\/strong>, 24.3%<\/strong> stated that they do not implement them but intend to do so at some point in the near future, while 38.4%<\/strong> stated that they do not implement them and do not intend to do so immediately.<\/p>\n\n

These figures show the difficulty faced by SMEs in making a sustainable transition compared to large enterprises, where the corresponding implementation rate is significantly higher (46%)<\/strong> compared to the sample as a whole.<\/p>\n\n

At the same time, the study finds that the implementation of ESG by SMEs is mainly fragmented and does not concern the whole organisation. Specifically, 90%<\/strong> implement policies related to the Environment<\/strong>, 78.3%<\/strong> to Society<\/strong> and 63.2%<\/strong> to Governance. In only 10% of the companies<\/strong> that implement Sustainability policies , these policies govern the entire operations of the company.<\/strong> <\/p>\n\n

Which programmes <\/u><\/em>ESG<\/u><\/em> are implemented by SMEs<\/u><\/em><\/p>\n\n

Human resources development actions<\/strong> (brain-drain, training, inclusion, etc.) have the lead in programme implementation at 70.2%<\/strong>.<\/p>\n\n

This is followed by investments in the circular economy <\/strong>(recycling, reuse of resources, waste reduction) at 69.6%<\/strong>.<\/p>\n\n

The development of new \u201cgreen\u201d products and services <\/strong>is in third place with 62.4%<\/strong>.<\/p>\n\n

Urgent need for action<\/u><\/em><\/p>\n\n

A number of respondents raised concerns about the need to apply sustainability policies to small businesses.<\/p>\n\n

Lack of information (70.9%), lack<\/strong> of expertise (50.5%)<\/strong> and increased costs (46.9%)<\/strong> were identified as factors inhibiting the implementation of ESG by SMEs.<\/p>\n\n

When asked about incentives that could enhance compliance with ESG criteria, 47.6% mentioned financial support\/resource enhancement\/financing<\/strong> and 18.8%<\/strong> mentioned<\/strong> tax incentives<\/strong>.<\/p>\n\n

These findings show that the horizontal approach of ESG measures does not favour SMEs and additional measures are needed from the State both in terms of funding and training of SMEs (through Special Advisors).<\/p>\n\n

Commenting on the results of the study, Dimitris Demetriou, Founder & CEO CPA Kudos Greece <\/strong>stressed: “We consider the conclusions reached in this research to be particularly useful for the adoption of additional measures that will facilitate SMEs and not only SMEs, both at the level of their own policy and at the sectoral level. We hope to make a catalytic contribution to the launch of a national dialogue on ESG, in which the voice of the \u201csmall\u201d can be heard in a way that benefits the economy and society. <\/em><\/p>\n\n

On behalf of MRB Hellas<\/strong>, Dimitris Mavros, CEO<\/strong> said:<\/p>\n\n

In the world of Business, everything new and of course unknown at its start, is incorporated in Greece at different speeds, with the <\/em>Early <\/em> Adopters always be Big Business. This is exactly the phase that the <\/em>ESG in Greece.<\/em><\/p>\n\n

While the Larger Enterprises have incorporated the logic <\/em>ESG in the way they act, or are moving in that direction, a numerically strong group of companies, while carrying out, however fragmented, actions on the environment or society, remains \u201cexcluded\u201d due to non-exposure to this information. There are thus many enterprises that are more \u201cready\u201d for <\/em>ESG, than they think<\/em><\/p>\n\n

The information deficit is the most important barrier on the road to <\/em>ESG. This lack of information and knowledge always creates a fear of two kinds a)The fear of a big costly \u201cmonster\u201d and b)The fear of \u201cguilt\u201d of whether any company is capable of meeting the challenge. At the same time, the imminent linking of the <\/em>ESG with business financial assessment is not yet widely known to the business community.<\/em><\/p>\n\n

H concept<\/em> “<\/em>Business <\/em> Ethics” and “Right” Entrepreneurship is not the prerogative of the Big, the Listed and the Multinationals. At this point it should be emphasized that businesses are living and operating in a new era where their own “Success” is not, as in the past, based only on one pillar, which is Economic Development. There are two additional pillars equally important, perhaps even more important since they feed back as has been proven Economic Growth, which create a more general narrative for the prosperity of a business a) Progress<\/strong> consisting of the sub-pillars of Discipline, Transparency & Processes and b) Success<\/strong> which consists of the sub-pillars Humanity, Ethics & Spirituality. <\/em><\/p>\n\n

Therefore, the big issue for businesses today is the \u201cbackbone\u201d…<\/em><\/p>\n\n

Development – Progress – Success<\/em><\/strong><\/p>\n\n

…whose central vertebra is the <\/em>ESG.<\/em><\/p>\n\n

This path to Success <\/strong>consists of the following steps:<\/em><\/p>\n\n