Climate Change Data

Environmental Metrics

ESG Focus Areas

• Operational Responsibility
• Environment
• Social
• Economic Impact

Environmental Achievements

• Recycling of 590 tons of waste in 2021
• Solar Park - 28% production of the total energy
• 96% less CO2e Vs 2010
• Achieved 97% LED-technology lighting at both airports

Social Achievements

• Highest Employee Satisfaction Score (4.25/5.00)
• Introduced touch-less technologies for both airports
• Larnaka and Pafos airports were awarded as the Most Accessible Airport in Europe in 2017 and 2018 respectively

Governance Achievements

• Established a Sustainability Steering Committee
• Implemented Enterprise Risk Management (ERM) procedure
• Implemented a Sustainability Policy approved by the Board of Directors

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic significantly impacted passenger traffic and revenue
• Supply chain disruptions

Mitigation Strategies

• Implemented various infrastructure and procedural adaptations to manage the pandemic
• Developed hybrid working arrangements
• Systematic COVID-19 testing procedure for personnel
• Maintained employment levels and avoided salary reductions
• Invested in touchless technologies
• Sourced products and services mainly from local suppliers

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Environmental purchasing policy based on ISO 50001 and ISO 14001
• 90% of purchases from local suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Development of renewable energies (solar park), Greening of vehicle fleets

Reporting Standards

Frameworks Used: GRI Standards: Core option

Certifications: ISO 14001, ISO 45001, ISO 50001, Airport Carbon Accreditation Level 3+ Neutrality, ACI Health Accreditation Certificate

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• CCCI Business Leader award (2021)
• Gold Designation by the MEECO Institute (2021)
• Highly commended at the ACI Best Airport Awards (2019)
• Two awards at the Cyprus Events Awards (2020)
• Highly commended at the 5th Cyprus CSR Competition (2019)
• Two awards at the Business4Climate Awards (2019)
• Three awards at the Cyprus HR Awards (2019)
• HR Excellence Award at the ACI Best Airport Awards (2019)
• Cyprus Quality Leader of the Year Award (2019)
• Platinum Investors in People standard (2019)
• Silver Designation by the MEECO Institute (2018)
• Most Accessible Airport Award (2017)

Environmental Metrics

ESG Focus Areas

• Environment
• People
• Economy

Environmental Achievements

• Reduction in Scope 1 emissions compared to 2022 (4.4% at Pafos, 6.5% at Larnaca)
• Reduction of Scope 2 Gross Location-based emissions
• Reduction in Scope 1 emissions relating to ozone-depleting substances (refrigerant gases) compared to 2022
• Recycling of 885 tons of operational waste
• Construction of two solar power plants, resulting in a total reduction of 1,219 tons of CO2 emissions

Social Achievements

• Highest Employee Satisfaction Score on an annual basis
• CSR actions have taken place
• Hermes continued to participate in several Work Packages of the EU-funded project TULIPS

Governance Achievements

• Achieved Airport Carbon Accreditation Level 4+ “Transition” for Larnaca and Pafos Airports
• Hermes is re-accredited at Platinum level by Investors in People for its People practices.
• Hermes Airports receives Gold accreditation by Investors in People for its Wellbeing practices.

Climate Goals & Targets

Environmental Challenges

• Aircraft availability challenges
• Increased airline switching activity
• Price-sensitive and well-informed passengers
• Increased competition between airports to attract routes
• Macroeconomic climate impacted by geopolitical events
• Long-standing issues of Cyprus as a tourism destination

Mitigation Strategies

• Dynamic airline environment strategies
• Incentive schemes to support growth in new and existing routes
• Marketing funds to promote demand
• Collaboration with nearby destinations for regional product offerings
• Joint efforts to promote Cyprus, particularly regarding off-peak flight activity
• Improvements in stakeholder alignment and development of new products and services

Supply Chain Management

Responsible Procurement

• Code of Business Ethics, Sustainable Procurement Policy (effective January 2024), Supplier Screening Process (2024), incorporation of social impact criteria in KYC review system (2024)

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards: 2021

Certifications: Airport Carbon Accreditation Level 4+ “Transition”, Investors in People Platinum, Investors in People Gold

UN Sustainable Development Goals

• Goal 7, Goal 13

Contribution to the global effort for addressing major sustainability challenges, in line with the UN SDGs and Agenda 2030.

Awards & Recognition

• Routes World Marketing Award, Cyprus Corporate Social Responsibility Awards, Cyprus Export Awards, Investors in People Platinum, Investors in People Gold, MEECO Institute Gold Designation, Business Leader award, ACI Europe Best Airport Awards, ACI Airport Health Accreditation, Cyprus Events Awards, Business4Climate Awards, ACI ACA Level 3+ Neutrality Certificate, Cyprus HR Awards, ACI Europe Best Airport Awards, Cyprus Quality Leader of the Year Award, Air Transport Awards, Investors in People Platinum IIP standard, MEECO Institute Silver Designation, ACI Best Airport Awards, ACI Europe Best Airport Awards