As part of Ancoria Bank’s ESG (Environmental, Social, and Governance) strategy, the bank organized a tree planting initiative, in collaboration with the Laona Foundation. This specific initiative is part of the framework of the LIFE AgrOassis project, co-financed by the European Union, dedicated to making a positive impact for a sustainable future and a greener planet.
During the tree planting, which took place on Friday 06 December 2024 in Pera Orinis, deep-rooted olive and carob trees were planted which are known for being adept at surviving during droughts. The purpose of the action is the reconstitution of traditional hedgerows in degraded rural areas with the aim of mitigating the effects of climate change on the agricultural land of Cyprus.
The tree-planting event brought together the bank’s employees in a wonderful day of collaboration, where participants worked hand-in-hand and learned about the importance of deep-rooted plants. Overall, the bank’s volunteers planted a total of 143 deep-rooted trees.
What is ESG and why is it important?
ESG consists of a set of criteria, which evaluate the way a company operates, emphasizing environmental responsibility its contribution to society and fair governance.
- Environmental: This pillar focuses on the ways in which we can contribute to the reduction of carbon emissions, the management of natural resources and in general the protection of the environment, not only for today, but to ensure a better future.
- Social: The correlation that every company has with society, its employees, customers and partners is strengthened based on the actions, which are implemented with the ultimate goal of social welfare, well-being, human rights and the application of fair working conditions practices.
- Governance: The criteria for Governance concerns transparency, ethics and good practices that guide how a company is managed, ensuring it operates responsibly.
This effort aligns with our broader ESG strategy, which includes supporting renewable energy projects, and promoting sustainable business practices. We firmly believe that banks have a role to play in addressing global challenges, and we’re proud to do our part.
