EMAS (Environmental Management Audit Scheme)

Piraeus Bank implements programs whose main goal is the constant reduction of its carbon footprint, deriving from its day to day operation. It implements a complete and ever improving Environmental Management System in its facilities, which is certified under EMAS. These programs are related to energy efficiency, water consumption, waste management, commuting reduction initiatives and the adoption of new practices, such as electronic banking and paperless office.

With these actions the Bank has managed to reduce its total CO₂ emissions by 22% per employee since 2014, while the annual average cost savings by these environmental programs is €5.5 mn. Piraeus Bank has received many distinctions in Greece and internationally for the above and is always ranked first about its environmental image according to consumer surveys. Furthermore, Piraeus’ environmental performance receives a high scored from sustainability rating agencies, compared to the largest banks internationally.

Piraeus Bank calculates both direct and indirect emissions Scope 1 & 2 deriving from its activities. Since 2018 the Bank also calculates the Scope 3 indirect emissions. The emissions attributed to the Bank due to mortgages (Scope 3: Category 15) where calculated in 2019 for the first time. For 2020, the Bank’s emissions from active mortgage loans were calculated using the new PCAF (Partnership for Carbon Accounting Financials) methodology, following a commitment to the Science Based Targets initiative (SBTi).

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