Sustainability Timeline

Piraeus Bank Group recognizing the importance of the 17 Sustainable Development Goals (SDGs) and the widespread acceptance of the Goals globally has identified the most material goals for the Group.

Piraeus Bank is the only Greek bank that participated in the development of the Principles for Responsible Banking, along with 29 other UNEP FI-banking members from around the world. The adoption of the Principles will make a decisive contribution to the global banking sector’s alignment with the UN Sustainable Development Goals (SDGs) and the Paris Climate Agreement.

Piraeus Bank received Guarantees of Origin certifying that 100% of the electricity consumed in the Bank’s facilities derived from Renewable Energy Sources.

Piraeus Bank completed the five-year European co-funded LIFE-Stymfalia project. The aim of this innovative project was to restore important wetland habitats at Lake Stymphalia and create the appropriate conditions for their long-term protection and management, linking business and biodiversity protection for the first time.

The CEO of Piraeus Bank, Mr. Christos Megalou, signed the Principles for Responsible Banking at the official ceremony held at the United Nations Headquarters in New York, in September 2019. Piraeus Bank drafted an Action Plan and established a concrete internal governance structure for the implementation of the Principles.

Piraeus Bank participates in the “Collective Commitment to Climate Action”, along with other banks that have signed the Principles for Responsible Banking, and have pledged to align their portfolios and boost the financing for sustainable development required to limit the increase in global warming to 1.5 degrees Celsius.

Piraeus Bank, following the TCFD Recommendations (“Task Force on Climate Related Financial Disclosures” of the Financial Stability Board), conducted a study for the recording and analysis of the recommendations, in order to determine future actions for the optimal management of climate risk.

Piraeus Bank actively participates in UNEP FI working groups and supports the implementation of the Principles for Responsible Banking, contributing to the creation of tools that help enhance sustainable financing.

Piraeus Bank provided targeted financing to businesses using ESG (Environmental, Social and Governance) considerations when selecting investment opportunities (Sustainability Linked Loans). Thus, the Bank contributes to the achievement of the UN SDGs.