GREEN FINANCING – BUSINESSES

The Bank effectively supports small and medium-sized enterprises which intend to invest in green energy or to improve their energy and environmental footprint, by providing a series of specialized products that cover all their needs: Piraeus Green Business 360^o.

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Through the Fund, Piraeus Bank will finance “clean” energy projects, such as wind farms, photovoltaic power stations, biogas and biomass installations, as well as hydropower plants. At the same time, new investments can be financed to improve energy efficiency of public and private buildings.

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• Sustainability Assessment, designed to holistically assess the credit risks that may occur in a new investment and/or existing investment activities and business facilities, while also assessing the financial, environmental and social risks that may arise;


• Techno-economic Assessment of Green Entrepreneurship Projects, designed to assess new business Projects related to “green” investments by examining the technology implemented and its cost, the choice of equipment, the project’s expected productivity, the installer’s experience and licensing maturity.

In the context of the long-term financing of TERNA ENERGY Group Renewable Energy Source (RES) projects, Piraeus Bank was the first in Greece to include principles of Environmental, Social and Corporate Governance in financing criteria.
These principles promote sustainable growth and take into account, among other things, the following:

• Reduction of annual carbon dioxide equivalent (CO2eq) emissions, within the next five years overall, by at least 20%.
• Implementation of the Eco-Management and Audit System (EMAS).

This financing reflects €150 million in TERNA ENERGY investments for Renewable Energy Sources in Greece (wind parks, hydroelectric projects and solar parks) producing a total power of over 120 MW.

In this way, Piraeus Bank is consolidating its leading position in financing of the RES sector, while at the same time manifesting its commitment to the Principles of Responsible Banking, transparently implementing ESG principles in its banking procedures that take into account environmental protection and society’s support.

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