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Corporate Social Responsibility
News
5.02.2008 - 08:00am ET
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GREENbanking4Life: turning Piraeus Bank’s environmental responsibility to action
(CSRwire) ATHENS, GREECE - May 2, 2008 - In an era, marked by climate change and
other environmental problems, safeguarding the planet and combating global
warming is presenting a raft of practical challenges to businesses,
governments and the general public.
With challenges, however, also come solutions.
In keeping with a long-standing commitment to both environmental and
social responsibility, Piraeus Bank, one of Greece’s leading financial
institutions, has launched an ambitious, 3-year initiative in an effort to
meet those challenges — the "GREENbanking4Life" project.
Supported by the European Commission’s LIFE ENVIRONMENT financial
instrument, GREENbanking4Life will implement a range of actions designed
not only to reduce the Bank's ecological footprint and improve energy
performance, but also to improve recycling, and bring innovative "green
banking" opportunities to its corporate and individual clients.
The Ecological Recycling Society, a Greek NGO, is partnering Piraeus Bank
in this project.
The initiative also marks a “first” for the EU, in that it is the
first time that the LIFE ENVIRONMENT financial instrument has supported a
bank in implementing its environmental policy.
“GREENbanking4Life recognizes that all have impacts upon the environment
— businesses and private individuals alike,” says Mr. Vrassidas Zavras,
Head of Piraeus Bank’s Environmental Department. “Banks are no
exception”.
The expected results of GREENbanking4Life include:
Reduction in carbon dioxide (CO2) emissions by improving energy
performance of the Bank’s facilities, installation of photovoltaic solar
systems and management of business trips.
Development of an integrated system for measuring and evaluating
environmental impacts.
Compilation of best practice guides for managing environmental
impacts.
Recycling of paper, ink cartridges, plastic bottles, electronic
equipment etc.
Water saving in the Bank’s branches located in areas facing water
shortages.
Procurement of goods that are environmentally friendly (recycled and
chlorine-free paper, non-toxic cleaning products etc.).
Designing and launching green banking products that promote
environmentally friendly investments, and encourage businesses and private
individuals to invest in renewable sources of energy.
Development and strengthening of green markets and green investments
in Greece.
Educating and motivating the personnel to transfer expertise to
clients, especially SMEs, and to the general public.
Among specific targets, the Bank has committed itself to achieving
recycling targets of 70% in its disposed paper, 50% of PET plastics and
70% of toners and ink cartridges. It also aims to reduce water consumption
overall by 30%, and to achieve an overall reduction in transport of 5%.
Additionally, it intends that 80% of its cleaning products be
eco-labelled, and for 80% of all A4 paper it uses to be recycled and
chlorine free.
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