In the framework of the European project climabiz carried out by Piraeus Bank in cooperation with WWF Greece and the consultancy Facets, a study was completed titled “Climate Change and Business Opportunities”. This study was prepared by Facets, and it is part of Piraeus Bank’s strategy for promoting green business as the major sustainable development perspective for Greece.

The purpose of this study is to raise awareness among the Greek business community, especially Small and Medium Enterprises, about the business opportunities that arise from climate change. It analyses the sectors of the Greek economy that present investment opportunities, i.e. electricity from Renewable Energy Sources, infrastructure for energy saving in buildings, financial sector, insurance sector, organic farming, biofuels, food and beverage, telecommunications, and tourism. Business opportunities may emerge due to:

• The new climatic conditions that will prevail in a region, which may be favourable for the pursuit of particular activities.
• The regulatory framework adopted for managing climate change and reducing greenhouse gas emissions, which favours the penetration of efficient and clean technologies, creating new markets, such as carbon markets, etc.
• The change in the behaviour of consumers, who, recognizing the importance of environmental issues and especially climate change, modify their habits and adopt new consumption patterns, increasing the demand for specific products and services.
• The technological innovations adopted by businesses in order to adapt to the new circumstances and gain market shares.

Climabiz is an innovative project which prepares the market to adapt to the new conditions created by climate change, giving thus the opportunity to businesses to develop a competitive advantage, especially during the current economic situation in Greece.  The project is co-funded by the European Union under the LIFE+ instrument.

The study can be found on the project’s website  www.climabiz.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.

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