Financial development through eco-friendly investments arises nowadays as yet another need for the creation of thousands of new jobs, in new economy sectors, judged necessary to fight the planet's big environmental problems. Especially today, during a time of recession, these investments contribute to the creation of recovery prerequisites, while at the same time protecting the environment.
Turning to the eco-friendly model of financial development is estimated to require from Greece a total investment of 45-55 billion euro until the year 2020. As far as the five following years (2009-2014) are concerned, it is predicted that the public and private investment required will reach at least 11 to 12 billion euro and it is estimated it may create a total of 60.000 new full-time employment positions. These investments, of approximately 7 to 8 billion euro, will be covered by bank loans.
During the past five years, Piraeus Bank has undertaken initiatives concerning the recording, appraisal and evaluation of its operational and enterprising activities' "ecological footprint". The Bank reduces its share of carbon dioxide (CO2) emissions, applies energy saving practices and adopts ecological waste management systems.
At the same time, the Bank has actively supported the eco-friendly enterprising activity, as well as the application of respective technologies in a series of Greek enterprises, having approved to date loans of up to 500,000,000 €.
In order to provide the best possible services to both small and large enterprises, as well as to private customers, Piraeus Bank has created the so called "green" banking products, opening thus a new chapter in the category's financing.
The Bank estimates that, apart from the already approved loans of up to 500 million euro, during the two following years they will allocate an additional 1.2 million euro to finance new enterprising and private investments, in the environmental protection economic sector.
In this context, the Bank also takes advantage of its tested cooperation with the ACCI, which started in January 2009, concerning the support of small and middle-scale enterprises. The immediate response of the Chamber's management to the needs of both the enterprises and the market proved that this cooperation may continue as equally successful, to the economy's benefit.
The loans will be allocated in more favorable than the usual terms and it is estimated that this initiative will stimulate the Greek market concerning eco-friendly actions, with main advantage the creation of 10,000 job positions.
At the same time, Piraeus Bank along with the ACCI request, in order for the further facilitation of the sector's financing, the exception of the particular loans from the L.128/75 0.6% fee.
The new loans concern all aspects of green enterprising.
More specifically:
RENEWABLE ENERGY SOURCES
Especially concerning Renewable Energy Sources, Piraeus Bank will support investments in the sectors of:
- photovoltaic systems,
- Aeolian parks (wind farms),
- small hydroelectric stations,
- solar thermal systems,
- geothermy and biomass technologies and applications.
Financing of each sector concerns both the processing and the trade and services. Enterprising activity has already been developed around the photovoltaic sector, regarding not only the creation of photovoltaic stations, but also the production and trade of panels and inverters, the production and trade of support systems, the stations' monitoring and maintenance services, as well as design and insurance services.
Piraeus Bank has the possibility to finance the purchase and installation of Renewable Energy Sources in favorable terms, regardless whether they have been subject to the developmental law or not. They provide the possibility of financing versus granting, while providing a specially designed insurance package. These loans differ depending on the enterprising plan's needs, while there are special products for each category: project finance, small and middle-scale enterprises, very small enterprises and domestic sector.
ENERGY SAVING
Similarly to energy saving, Piraeus Bank is willing to finance all sectors concerning:
- bioclimatic buildings,
- ecologic construction,
- energy saving technologies, as well as
- energy inspectors and service enterprises.
In the energy saving sector, the Bank provides a special loan to enterprises and private individuals, concerning the installation of energy saving systems in the construction sector. This way, the Bank supports both the enterprises and private individuals purchasing better energy performance engineering equipment (i.e. energy class A air-conditioners, new boilers and better energy performance burners) as well as equipment aiming to ameliorate the building shell in order to save energy (i.e. low-e glass panes, thermal-proof window frames, insulation, shading). The Bank will also reward the business and private customers who will decide to construct, restore or buy a building of good energy performance, with a specially designed housing loan.
GREEN TRANSPORTATION
Especially concerning green transportation, the Bank is willing to finance both companies that will decide to purchase transportation means with low carbon dioxide emissions, and private individuals. These loans are specially designed to meet the needs of the private investor.
WASTE MANAGEMENT
Moreover, there will be considerable support for all enterprises that will decide to turn to the alternative waste management (recycling, composting, etc.) and the application of special certification systems (EMAS, ISO14001). The Bank will also support companies providing equipment for such technologies, materials and services. In each case, the Bank provides the possibility of financing according to the needs of each entrepreneur.
ORGANIC FARMING - AGRITOURISM - ECOTOURISM
Piraeus Bank will finance farmers adopting the application of certified organic cultivation, while supporting the whole organic production chain. Finally, the Bank will finance both the certification bodies of such products and the investments linked with this certification.
The Bank also supports all aspects of agritourism and ecotourism. Regarding all such investments, the Bank has designed a special business loan, in especially attractive terms.
GREEN CHEMISTRY
Moreover, regarding "green" chemistry products (i.e. mild detergents, biopolymers, natural cosmetics), financing refers to both their production and packaging and distribution for sale. In this case too, Piraeus Bank proposes a special business loan.
All the above open a new pathway in bank financing, based on the new challenges and needs of our era. They confirm the conviction and active support of Piraeus Bank to the environment protecting economy, contributing in the reduction of the greenhouse effect and the consequences of climate changes. At the same time, it contributes to the creation of prerequisites for recovery and the creation of thousands of new job positions.
So, the supporting of "green" entrepreneurship, through the financing of investments in Renewable Energy Sources, energy saving, "green" transportation, waste management, organic cultivation, agritourism and "green" chemistry, gets set on a well established base and perspective.
SPECIAL SERVICES BY Piraeus Bank and ACCI
With its privileged financing terms and highly specialized personnel, Piraeus Bank is there for all interested, small or large-scale enterprises and private individuals, in order to provide them with advice and specially designed financing programs.
Those interested may acquire all pertinent information from the Bank's Green Banking Store, 18, Panepistimiou street, Athens (+30 210 3739035-6, e-mail: greenbanking@piraeusbank.gr).
At the same time, the ACCI will constitute a Special Green Enterprising Office, which will start operating from the 1st of August 2009, aiming to inform its member enterprises about the green enterprising financing programs by Piraeus Bank.
The ACCI will also immediately inform its member enterprises, in electronic form too, regarding the respective programs, and provide instructions concerning where and what documents they should file, in order to initiate their financing procedures. The applications and respective portfolios presented to the ACCI will be put through a preliminary check and then forwarded to Piraeus Bank.
Athens, July 9, 2009