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Piraeus Bank Among Europe’s Climate Leaders for 2022

Piraeus Bank climate
Piraeus Bank is among European companies that integrate the best environmental, social, and corporate criteria in its operations. Credit: Piraeus Bank

Piraeus Bank is among the top 400 Climate Leader companies in Europe for the second consecutive year, according to the Financial Times.

Piraeus Bank is the only Greek company included in the Financial Times list of “Europe’s Climate Leaders” in 2022 thanks to the great reduction of its Scope 1 and Scope 2 greenhouse gas emissions over the five-year period from 2015 to 2020.

Since 2019, when the bank became one of the founding partners of the United Nations Principles for Responsible Banking, Piraeus Bank has been systematically progressing towards sustainable banking by developing infrastructure, policies, and strategies that integrate the best ESG (Environmental, Social, and Corporate) criteria in its operations.

Climate change is a priority for Piraeus Bank

Climate change remains high on the organization’s agenda, and climate action is a priority.

Piraeus Bank systematically measures its GHG (greenhouse gas) emissions stemming from its operational and financing activities, through its Environmental Management System that is certified under EMAS and ISO 14001:2015, as well as through its participation in international initiatives.

The Bank’s carbon footprint saw a further reduction of Scope 1 and Scope 2 emissions by 33 percent and 56 percent, respectively, in the years 2016 to 2021.

Along with its financial performance aspirations, Piraeus Group systematically steps forward in the direction of sustainable banking and creates the infrastructure, policies, and strategies that further incorporate Environmental, Social, and Governance criteria, known as ESG criteria, in its operations.

This strategy will enable the Group to maximize its contribution to the achievement of the Paris Climate Agreement’s targets and the United Nations’ Sustainable Development Goals.

In the years 2022 to 2025, the Bank aims to grow its sustainable banking loan book by approximately €9bn.

With these strategic actions, the company expects to serve its vision as the most sustainable bank in Greece by empowering and supporting clients to a net-zero pathway and by aspiring to have a continuously positive impact on the economy, society, and environment.

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