Experts at Olympia Forum Stress Urgent Need for ESG Adoption Support for Greek Businesses

08:10 21/10/2024 - Πηγή: iEfimerida

While Greece boasts a diverse array of financial tools for businesses, experts at the 5th Olympia Forum in Ancient Olympia emphasized the urgent need for increased support in navigating ESG (Environmental, Social, and Governance)

criteria.

The panel discussion on "Funding Opportunities & Public-Private Partnerships" highlighted the challenges and opportunities facing Greek businesses, particularly small and medium-sized enterprises (SMEs), in accessing funding and adapting to the rapidly evolving landscape of ESG standards.

Haris Lambropoulos, President of the Hellenic Development Bank of Investments, affirmed the availability of ample financial resources, showcasing the bank's significant role in supporting entrepreneurship and fostering a thriving venture capital ecosystem.

Mr. Lambropoulos underscored the bank's commitment to driving investments in innovative businesses aligned with ESG principles.

Ismini Papakyriyllou, CEO of the Hellenic Development Bank, reiterated the bank's focus on empowering SMEs through improved access to finance and tailored financial tools.

Ms. Papakyriyllou cited programs like the Entrepreneurship Fund III (TEPIX III) and initiatives for Just Development Transition as key resources for small businesses. She stressed the crucial link between research, patents, and market demands, noting the bank's ongoing efforts to adapt financial programs to meet these needs, particularly concerning ESG criteria.

"With stringent regulatory frameworks and the growing importance of ESG in determining creditworthiness, collaboration is crucial to ensure that no business is left behind," Ms. Papakyriyllou warned.

Giorgos Pappas, President of the Economic Chamber for Western Greece, underscored the importance of robust internal structures for companies engaging in public-private partnerships (PPPs) to ensure their long-term sustainability.

Mr. Pappas also highlighted the critical need for increased awareness and support in adopting ESG criteria.

Myron Flouri, an advisor for innovative businesses, acknowledged the significant progress made in recent years in developing institutions and financial tools for the innovation and technology ecosystem.

Mr. Flouri stressed the importance of businesses staying informed about these evolving resources.

"While the challenge remains in translating research into marketable products, the situation is improving," he noted, advocating for the continuous redesign of programs and financial tools to align with market demands.

The Olympia Forum discussions underscored the urgency for Greek businesses, especially SMEs, to proactively embrace ESG principles with adequate support and guidance to ensure their competitiveness and sustainability in the evolving global market.

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