Commitment to Safeguarding Human Rights

1. Statement of commitment to respect human rights in accordance with internationally accepted standards

Piraeus Bank, since 2004, has adopted the principles of the UN Global Compact and the Declaration of Human Rights. The Bank applies equal opportunity principles to all actions and opposes to any form of discrimination, inequality or human rights violation while, at the same time, recognizes and respects diversity. All of the Bank’s policies, procedures and human resource management practices are governed by respect for human rights.

Piraeus Bank Group is committed to the homogeneous adherence of the principles that govern Human Resources management in consistency with the Group’s value system. This gives priority to humans and society, regulates and supports the progress and development of the Group.

The Human Rights Policy applies to Piraeus Bank Group including the entities in which the Bank holds a majority interest.

Basic Principles of the Piraeus Bank for Human Rights

  • Collective Representation
  • Equal Opportunities
  • Abstention of child labor
  • Elimination of all forms of forced and compulsory labor
  • Reassurance of Human Rights within Piraeus Bank Group through the implementation of policies and procedures.
  • Elimination of harassment and psychological violence in the workplace
  • Communication with the employees and active commitment to clarity at dealing with all Stakeholders
  • Confidentiality and Secrecy Principle
  • Monitoring and management systems for ensuring Human Rights
  • Environmental Responsibility
  • Preservation from Corruption
  • Evaluation and Optimization of Human Rights Policy

2. Commitment with respect to human resources management

In addition, all of the Bank’s policies, procedures and human resource management practices are governed by respect for human rights.

The Piraeus Bank Group is opposed to:

  • any form of discrimination
  • any form of unequal treatment
  • any form of harassment or threatening behavior
  • any form of violation of human rights

3. Actions and procedures undertaken to meet commitment

Piraeus Bank Group, in order to monitor and safeguard the respect for human rights as well as strengthen communication with all employees on human rights issues:

  • Has developed a human rights policy & procedure for complaints regarding the safeguarding of human rights, which is regularly reviewed according to the developments in the legal framework. This procedure effectively manages and settles staff complaints in accordance to the labor relations framework.
  • Has implemented different communication channels including the Intranet, through which employees can raise issues of concern to them regarding human rights in the workplace and receive guidance by specialized partners.
  • Provides the “Human Rights” e-learning training program, which is available to all Group employees and executives in Greece and abroad.

4. Expectations of Piraeus Bank partners and suppliers

The Bank is committed to working with and encouraging its stakeholders to uphold the principles of Human Rights Policy and to adopt similar policies within their businesses.

With the aim of actively contributing to protection of the principles of human rights, specific evaluation criteria have been designed for the Bank’s partners and suppliers, including equal opportunities, non-acceptance of child or forced labor, compliance with business ethics principles and environmental protection.

The Bank has developed a revised Code of Conduct for Suppliers through its Corporate Responsibility Committee, which includes the prerequisites for selection and partnership with suppliers who respect human rights and environmental protection. The revised Code of Conduct is expected to be gradually implemented.