What is the Greek Sustainability Code?

The Greek Sustainability Code has been created in view of becoming a practical tool of transparency and commitment to the issues of Sustainable Development and Corporate Responsibility for all Companies and Organisations active in Greece, regardless of their size or legal status. The Greek Code attempts to give guidance to the Organisations on how to integrate the Sustainable Development and Corporate Responsibility principles in their business operation.

The Greek Sustainability Code is a result of the QualityNet Foundation (QNF) cooperation with the German Council for Sustainable Development (RNE) in the context of the “Sustainable Greece 2020” Initiative.

The “Sustainable Greece 2020” Initiative aspires to create a new model of development for Greece that not only will lead the way out of the crisis but it will also lay down the basis for a Sustainable Economy and Society. An Economy that will ensure Social Cohesion through the equal development of each side of the Economy – Society – Environment triangle. The Initiative by way of a wide dialogue and consultation process aims at contributing in the promotion of the Sustainable Development and supporting the organisations, the institutions and authorities of our country with practical tools and methodologies for the creation of Sustainable Development Strategies and Policies. The Greek Sustainability Code is one of these tools.

The Paper of the Consultation Process of the Greek Sustainability code is the result of the work of the members of the Committee for the Development of the Greek Sustainability Code consisting of representatives of business associations, companies and state institutions. It is also the work of a Team of Technical Consultants.

The Greek Sustainability Code:

  • is in line with the dictates of the Directive of the European Commission for the disclosure of non-financial data,
  • it is based on international standards (such as the Global Reporting Initiative, United Nations Global Compact, OECD Directives for multi-national companies, ISO 26000, EFFAS, EMAS, ISO 14001, ISO 5001, ISO 5002, ISO 9001, SA 8000 etc.),
  • it draws know-how from the respective Sustainability Code developed by the German Council for Sustainable Development (RNE),
  • it is linked with the creation of a European Platform on Sustainable Development “The Sustainability Code”,
  • it takes into consideration the particularities of the Greek market, the size of the Organizations as well as their degree of maturity.

Benefits of participating in the Greek Sustainability Code:

  • It promotes and supports the linkage of the Organizations with the issues of Sustainable Development and Corporate Responsibility using a common, well-established and comprehensive international methodology in the form of user-friendly and practical framework the Organizations can use to report on Sustainable Development and Corporate Responsibility management systems.
  • It is a tool for internal management improvement of an Organization in terms of its approach on the issues of Sustainable Development and Corporate Responsibility.
  • It provides the investors with information and can be used as a means of assessment and comparison of the Organizations results on non-financial data per criterion.
  • It is in line with the dictates of the Directive of the European Commission for the disclosure of non-financial data.
  • It creates a “responsible supplies” framework through which each Organization demands a comparative advantage on the management of its suppliers’ network.
  • It showcases the image of the Organization as a “responsible business civilian” vis-à-vis the government and social institutions as well as the customers-consumers.

The Greek Sustainability Code comprises of 20 Criteria under 4 Themes and is essentially responsive to the need of assessment and measurement of the economic, environmental and social performance.

Taking into consideration the particularities of the Greek market with regards to the size of the Organizations/Companies, the Greek Sustainability Code offers the Organizations the option of gradually adopting its criteria. Thus, although the Greek code comprises of 20 criteria, an Organization can selectively participate in the Code through the Electronic Platform of the Greek Sustainability Code on annual basis, filling in on its different levels depending on the maturity of its internal management and procedures.