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GREENbanking4Life: turning Piraeus Bank’s environmental responsibility to action
GREENbanking4Life: turning Piraeus Bank’s environmental responsibility to action
Published 05-02-08
Submitted by Piraeus Bank
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:
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.
Piraeus Bank
Piraeus Bank
Piraeus Bank Group is one of the most dynamic and active financial organisations in Greece today. Founded in 1916, Piraeus Bank went through a period of state-ownership and management (1975-1991) before it was privatised in December 1991. Today, Piraeus Bank leads a group of companies covering all financial and banking activities in the Greek market (universal bank). Piraeus Bank possesses particular know-how in the areas of retail banking, small and medium-sized enterprises (SMEs), capital markets and investment banking, leasing and financing of the shipping sector. Piraeus Bank Group has a growing international presence, focused in Southeastern Europe and Eastern Mediterranean, but also in the financial centres of London and New York. Main strategic targets of Piraeus Bank Group are: further enhancing market shares in Greece and abroad wherever it operates, improving service quality and customer satisfaction, creating innovative products, further enhancing the Group's position in retail banking and small and medium-sized enterprises financing, strengthening the Group in the areas of asset management and bancassurance and, finally, strengthening profitability with a view of constantly increasing shareholder value.
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