Green Procurement

Piraeus Bank applies a green procurement policy since 2005. More specifically, the Bank selects environmentally-friendly products (chlorine free FSC¹ paper, recycled consumables, light bulbs, replacement of company fleet with low fuel-consumption vehicles, gradual replacement of electric and electronic equipment with energy-efficient appliances) which contribute to, among others, reducing the environmental footprint and awareness-raising of employees about green supplies.

Since 2015, Piraeus Bank uses paper certified under FSC (Forest Stewardship Council) for the documents to be sent to customers (account statements, loan statements, notice letters, transactions confirmations, stock exchange statements, trade order confirmations).

In 2017, 74% of the total amount of paper consumed is eco-label or FSC.
ΟElectrical and electronic equipment (screens, laptops and refurbished computers) are gradually being replaced with energy-efficient appliances ("energy star" label). The rating company “oekom research” graded Piraeus Bank with A+, for its IT procurements.

¹ FSC^® (Forest Stewardship Council^®): Its mission is to promote environmentally responsible, socially beneficial and economically viable management of the world’s forests.

Recycled, Chlorine free Paper

The environmental benefits for using recycled and chlorine free paper from 2006 to 2015 are impressive at Piraeus Bank. By using recycled paper it was not necessary to fell 106,000 trees, while consumption of 24.500.000 KWh of energy and 189.000.000 litres of water was avoided.

Replacement of corporate vehicles

Within the framework of the green procurement programme, Piraeus Bank is gradually replacing its corporate fleet of conventional cars with low emission vehicles. On the basis of the average distance travelled by the Piraeus Bank fleet, the annual consumption cost for a low-emission car is 36% less than a conventional car of the same size.

By covering the average distance travelled by a Piraeus Bank fleet car in a year using a low-emission car (109gr/km), we avoid the emission of one tonne of CO2, compared to a conventional car of a similar size. This is equivalent to the CΟ2 absorbed by 75 trees in a year.

Proportionately, the CΟ2 absorption savings for all the low-emission cars to be provided to Piraeus Bank executives are equivalent to the annual absorption of 26,250 trees.