Financial framework

The mechanism of EcoCarbon financial governance based on company’s financial strategy ensures the achievement of dynamic balanced development, the alignment of the economic and financial goals in the conditions of market uncertainty and restrictions imposed by the state regulation of companies’ activities.

The EcoCarbon’s financial strategy is directed to establish long-term partner relations with our clients, partner banks, financial institutions and regulatory authorities. The financial strategy is identified and updated on regular terms based on internal and external reviews and studies referring to the global coal market overview, aiming to address the company’s budgetary requirements.

Separate and consolidated financial statements that are drawn up according to the Cyprus Companies Law and EU statutory audit legislation are covered by audit opinion in accordance with the applicable International Standards on Auditing. The enforcement of audit rules and procedures is assured by the top management responsible for financial statements.

EcoCarbon collaborates with European banks and financial institutions allowing access to extended banking facilities including cross-border capital flows and trading in commodity derivatives to meet client’s requests.

The company’s financial management consistently carries out actions to enhance the competitiveness and financial viability through proactive measures in terms of budget management and cost optimization, regulation of financial processes, analysis of the company’s profitability.