ESG reporting key regulatory updates

By the end of the training, participants will be able to:

• identify the regulatory environment on non-financial reporting
• describe the important clauses of the regulation to their colleagues
• define compliance mechanisms
• verify the regulatory landscape for their entity
• transform current action plans to accommodate the changes required or non-financial reporting
• demonstrate their organization’s compliance to the regulatory framework during the submission of the non-financial reporting
• support the implementation of the ESG Strategy within their organization
• encourage the preparation of an action plan for preparatory actions.

This training is addressed to professionals who are involved in sectors such as Risk Management (including ESG), corporate social responsibility, sustainability and reporting. These professionals could be compliance officers, internal auditors, finance officers, risk officers, sustainability officers and other related professionals.

*The number of participants is restricted to 28.

1. Introduction/ Setting the scene (1 hr)

• Objectives and setting the scene
• Historical background
• Legal background

2. The transition from NFRD (Non-Financial Reporting Directive) to CSRD (Corporate Sustainability Reporting Directive) (1 hr & 40 min)

• The NFRD (Non-Financial Reporting Directive) requirements
• CSRD (Corporate Sustainability Reporting Directive) requirements
• ESRS (European Sustainability Reporting Standards)

The trainers will attempt a thorough walkthrough of the NFRD, coupled with a comparative analysis regarding how it is applied at European level, compared to Cyprus. The reasons for which the transition to the CSRD is deemed necessary, will be explained. They will also deep dive into the CSRD clauses, they will analyse what will be required by entities and refer to relevant timelines. The trainers will introduce the ESRS which will serve as the basis for the CSRD non-financial reporting by entities. They will identify the ones that are ready to roll out and explain how they will progress.

3. Other regulatory requirements (2 hrs)

• The SFDR (Sustainable Finance Disclosures Regulation)
• European Union Taxonomy
• The TCFD (Task Force on Climate Related Financial Disclosures)
• Additional benchmarks under development

Upon completing the presentation of the key directive on non-financial reporting i.e. CSRD, the trainers, including a Board Member, will identify some of the key regulations that fall within the reporting obligations realm when businesses deal with sustainability issues. The SFDR and the EU Taxonomy Regulation is the legislative framework introduced for investors, asset managers, and generally professionals within the financial sector. The trainers will explain how these regulations affect financial institutions and how financial institutions should respond.

In addition, the trainers will review the guidelines set by the Task Force on Climate Related Financial Disclosures (TCFD) which gain significant momentum as they are increasingly incorporated into regulation. They will also cover other benchmarks/ guidelines issued by think tanks, pressure groups, NGOs which enhance the accountability by public and private undertakings, through their reporting mechanisms.

4. ESG Strategy: Leading Market Practicess (1 hr)

• Review current landscape
• Strategic Objectives
• Action plan
• Implementation
• Case Studies

5. Concluding remarks (20 min)

• Overall conclusion and synopsis of next steps
• Achievement of training objectives

6. Questions &Answers (15 min)

If you wish to register for the seminar, please complete the registration form.

Once your registration is submitted, you will receive an email stating the participation fee, including any discounts, if applicable. Kindly note that the payment should be settled at least two days prior to the seminar’s date for your registration to be confirmed.

The programme has been approved by the HRDA. Enterprises participating with their employees who satisfy HRDA’s criteria, are entitled to subsidy. Please note that there are limited seats available, therefore enroll in this seminar as soon as possible.

If you do not receive our confirmation e-mail regarding your registration, your participation cannot be guaranteed.

Cost

€264 + VAT.  Net investment after subsidy from the HRDA of €106,25: €207,91(including VAT) for all eligible participants*

*Last Date for 10% Early Bird Discount: 14/6/2023

Discounts available

• For more than two (3+) participants from the same company a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for participants who enroll in the same seminar, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
• For individuals/legal entities who/which register in more than two (3+) seminars during the same semester (January-June & July-December), a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for individuals/legal entities who/which enroll in more than two (3+) seminars during the same semester, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
• There is a 10% discount for alumni members. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the early bird discount and the HRDA subsidy, when applicable. For more information on our alumni scheme, click here.
• There is a 10% early bird discount on selected seminars for participants who enroll in a training course until a specific date which is stated above. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the HRDA subsidy, when applicable.
• HRDA subsidy for all HRDA approved seminars. 

Contact

For any queries, please contact us on +357 22 207 460 or at academy@kpmg.com.cy.

CPD

This seminar may contribute to Continuing Professional Development requirements. At the end of the seminar participants will be given a certificate of attendance confirming the total number of training hours (6,15 CPD).

Eleni Neocleous
Board Member, Risk Consulting, KPMG in Cyprus

Eleni is a Board Member at KPMG’s Risk Consulting practice. She has over 15 years of experience in the area of financial services risk and regulation.

Since the overhaul of the AML regulatory framework in Cyprus in 2012, Eleni managed a number of AML advisory projects in Cyprus for banks investment firms, administrative service providers and regulatory authorities. She assisted clients in the implementation of AML rules, performed independent compliance reviews and provided advice on AML and compliance policy documentation. She has also developed risk-based approach, client risk categorisation tools and delivered numerous trainings to AML practitioners and BoDs.

Eleni has been involved in international projects for designing risk-based approach methodologies for AML risks in the securities sectors.

Eleni is certified by the HRDA as a “Trainer of Vocational Training”. 

Petros Sorokkos
Senior Manager, Risk Consulting, KPMG in Cyprus

Petros is a Senior Manager at Risk Consulting department of KPMG in Cyprus. He holds a bachelor’s degree in Sociology and a master’s degree in European and Comparative Public Policy. He is a member of the Association of Internal Auditors of Cyprus, and the Association of Certified Fraud Examiners. He possesses extensive experience in strategy consulting, public procurement, internal audit, sustainability and regulatory compliance, servicing clients both in the private and public sector. He assists various organisations in setting up Anti-bribery Management Systems. Moreover, he has knowledge of KPMG methodologies geared towards assessing the impact of ESG risks in companies. Finally, he has wide experience in the implementation and management of projects funded by instruments of the European Union both at national and at EU level.

Eva Solomontos
Manager, Risk Consulting, KPMG in Cyprus

Eva is a Manager in the Risk Consulting Department of KPMG in Cyprus and has over seven years of advisory experience in the financial services sector. She is currently managing the central KPMG ESG team in Cyprus which provides business development and client support for businesses in the banking area, pharmaceuticals, telecommunications, shipping and retail clients. It also enhances KPMG’s ESG-related knowledge capabilities through extended research and connecting with the wider KPMG network. Aside from managing the central KPMG ESG team, Eva is responsible for supporting banking clients in implementing regulatory expectations with regards to ESG, and in particular risk management related expectations, such as climate stress testing, materiality assessments, governance and risk appetite. She has also been involved in ESG strategy development projects of banking and pharmaceutical clients.

In the past, she has worked on a wide range of projects including policy development, project management services in large scale projects, regulatory advice and payments services. Prior to joining KPMG in Cyprus, Eva was a member of the FRM (Regulatory) Department of KPMG UK for four years. Her experience includes, amongst others, supporting in the development of a business case for a single model for wholesale cash distribution in the UK and supporting in the establishment of a New Payments architecture for the UK’s leading retail payments authority.

Eva holds a bachelor’s degree in Law from Queen Mary University of London (QMUL) and a master’s in science in Security Studies from the University College London (UCL). She is currently a candidate for the ESG Expert Certification from the EBS Executive School (as part of EBS Universität).