July 2019 - June 2020
Our CR programme focuses on promoting youth entrepreneurship, supporting vulnerable social groups, protecting the environment and sharing our people’s knowledge and expertise with our communities. Our activities for FY20, which are based on the values of giving back to society and volunteerism are summarised in our CR Review 2020.
“With PwC’s values in mind, we are aware of our responsibility towards the society. Our aim is to bring about positive change and contribute to the creation of future leaders and a better tomorrow for the generations to come.”
During FY20, we sponsored 13 awards to top performing students of the University of Cyprus and other educational institutes in Cyprus. With the support and active participation of our people, we organise annual events such as blood donation, support the Movember initiative and collect essential items in support of underserved families. During the year, we have also supported many other charitable institutions such as the Radiomarathon, the Cyprus Cancer Association, the Alkionides foundation, the Sophia Foundation For Children etc. We also support cultural foundations, which through their activities promote the Arts and Culture, such as the Cyprus Symphony Orchestra and the Pharos Arts Foundation.
At PwC, we believe that we can be part of the solution to the global challenges in two ways; by doing the right thing, which means playing our part on responsible business issues that are central to our business and by being a catalyst for change, which is about using our skills, voice and relationships to work with others and influence activities that have a lasting impact on the world around us. During FY20, we supported the business community with 8 thought leadership pieces, 10 events and webcasts as well as two surveys in which Cypriot CEOs and CFOs shared their views on pressing issues. In addition, €125.000 worth of pro-bono and discounted services were donated to community organisations and charitable institutions.
We recognise our environmental responsibility and the importance of taking action to minimise our environmental footprint. To this effect, we implement a comprehensive Environmental Management System and integrate environmental management best practices into our daily business operations. During the financial year 2020, PwC Cyprus has obtained two environmental certifications. The first one being the certification of our premises as “Green Offices”, an innovative eco-label for offices and buildings. In addition, our environmental team reviewed and updated the organisation’s Environmental Management System according to the requirements of the international standard ISO 14001:2015. The Environmental Management System Certificate of Conformity is applicable to all activities carried out from the four building locations of PwC in Cyprus.
It is important to note that due to the pandemic and the respective safety measures such as the lockdown period, the cease of travel as well as other operational measures related to the reduced number of people working from office on a rotational basis, the increase of people working from home, the cease of events and the avoidance of physical meetings and trainings our KPIs have shown a significant decrease in comparison to FY19.
Amid an environment filled with challenges resulting from the COVID-19 pandemic, the need to support entrepreneurship as a basic tool for economic recovery seems more imperative than ever. PwC has always supported the local society and promotes youth entrepreneurship and innovation by establishing strategic partnerships with educators and business stakeholders such as the University of Cyprus, Junior Achievement Cyprus, Chrysalis LEAP and the Research Centre on Interactive Media Smart Systems and Emerging Technologies (RISE).
During FY20, our people invested more than 654 hours of volunteering by participating in various programmes as mentors of students and young entrepreneurs. In addition during the year, more than €74.000 were invested in our entrepreneurship initiatives.
Even though COVID-19 was a challenge for our business, it gave our purpose an even greater importance. Recognising our responsibility towards our clients, the business community and the society, our values came to life during this crisis.
We created a number of thought leadership pieces for the business community as well as a dedicated local webpage to show our response to COVID-19 with our services, advice and updates, including our two webcasts. In collaboration with our global network we host on our local website the PwC’s COVID-19 Navigator, a diagnostic tool that anybody can use to assess the potential impact to their business and their readiness to respond. At a local level, during the year, we published three in-depth studies on the economic impact of COVID-19 as well as our suggestions for restarting the economy and achieving sustainable growth. These are "Restart Cyprus", "Covid-19 - Impact of the pandemic on the Cyprus economy" and "Restart Cyprus: Now", which was published in December 2020 in Greek and English. In addition, we participated in 3 rounds of the CFO Pulse survey, a global initiative to get fact-based insights by CFOs on the COVID-19 impact on businesses, as well as their expectations going forward.
We had also announced the launch of a free version of our Digital Fitness app (DFA), including additional resources to help navigate our new reality. DFA is a PwC service, offering an extensive content-rich library with learning pathways and assessments, informing and helping users gain an in-depth understanding of contemporary tech trends, so that they can adapt to the new digital world and become digitally fit. DFA that ranked #3 in the CyprusApp Store (Education) is part of PwC’s “New World, New Skills” initiative aiming to improve the skills of our people, clients and partners and prepare them for the future world of work.
To support our community, we have also announced our financial support of €25.000 to the Cyprus Red Cross Society contributing to its initiative to help the elderly and vulnerable people by buying and delivering their groceries and medicines during the COVID-19 crisis.
It is worth noting that PwC Cyprus holds the Business Continuity Management System Certificate of Conformity from the Cyprus Certification Company and in this framework, we have successfully implemented our business continuity plan very early on. We have also created a special google site to communicate with our people and hosted 3 internal webcasts, providing them with ongoing guidance and support. Taking advantage of the solid technological infrastructure and modern work practices that the organisation has adopted in recent years, our people have been working either from home or on a rotation basis. To support our people, we have also provided them with enhanced flexibility to be able to balance work-life demands.
All the above are part of our commitment to support our people, the business community as well as the entire society. The post-COVID-19 era will certainly be different but by working together we can achieve the goal of recovery and return to growth
Partner, In charge of Corporate Responsibility, PwC Cyprus