In the framework of the European co-funded under LIFE instrument climabiz project, run by Piraeus Bank in partnership with WWF Greece and Facets, a report titled "Climate change and Greek businesses: Risks and opportunities" was recently published (in Greek). The report was elaborated by WWF Greece and it aims to raise the awareness of the Greek business sector on the impacts of climate change on the local economy. The first section of the report includes the fundamentals of climate change and explains the impacts on the planet and human societies in general. The second part provides a review of the risks and opportunities deriving from climate change for all relevant economic Greek sectors. The report is being distributed to businesses and other concerned stakeholders.

It is stressed in the report that climate change does not only concern large companies but also smaller ones. Small- and medium-enterprises (SMEs) in Greece comprise the pillar of the national economy. There are approximately 800,000 SMEs with a large contribution to the national GDP. This implies a significant environmental footprint that requires long-term planning in order to be dealt with effectively.

The report concludes that climate change, both locally and globally, constitutes an opportunity for redesigning businesses and developing innovative products and processes. This may prove to be fruitful both for business and the environment. Ongoing international developments strongly suggest that prudent entrepreneurship is inextricably linked with environmental responsibility, and this applies to smaller companies too. Greek SMEs can only remain competitive, up-to-date and sustainable when they are equipped with the knowledge required to face the environmental challenges of our times.

For more information about Piraeus Bank, please visit www.piraeusbank.gr.

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.

More from Piraeus Bank