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Climate Change and Business Opportunities: The Piraeus Bank Project

Submitted by: Piraeus Bank

Categories: Socially Responsible Investing, Finance

Posted: Jun 11, 2014 – 10:25 AM EST


ATHENS, Jun. 11 /CSRwire/ - The Piraeus Bank project entitled, "Financial Institutions: Preparing the Market for Adapting to Climate Change," (ClimaBiz) was selected as one of the 21 Best LIFE Environment projects. This innovative project co-funded 50% by the European Union’s “LIFE+ Environment Policy and Governance” funding instrument, was completed in 2012.

The aim of ClimaBiz is to trigger the timely adaptation of the market to the risks and opportunities of climate change.

The award was received on behalf of the Bank by Mr. Vrasidas Zavras, General Manager of Piraeus Bank, Head of Green Banking Sector, at a special event held on Wednesday 4 July in Brussels, during the Green Week, which this year focused on “Circular economy-saving resources, creating jobs.”

On the occasion of receiving the award Mr. Vrasidas Zavras stated:

“Piraeus Bank’s pivotal strategy is to support and finance companies, institutions, organizations and projects which offer added value and which benefit people and the environment by supporting deposit accounts holders and investors wishing to promote individual and corporate social responsibility in a sustainable society.”

It is worthwhile to mention the leading role Piraeus Bank has, as a financial institution in tackling climate change, both by measuring economic risks and by identifying business opportunities deriving from global warming.

Mr. Vrasidas Zavras is also reporting that in the context of its overall Environmental Policy, the Bank has committed to applying strategies that reduce its environmental impacts from both its operation and business activities.

The first LIFE-Environment project, GREENbanking4Life (2006-2009), carried out by Piraeus Bank, actually set the foundations of its “green” policy. In fact, Piraeus Bank is the only bank in Greece and Europe that has taken advantage of the LIFE funding instrument and has completed two projects approved by the EU.

In October 2013, the Bank embarked upon a third project LIFE-Stymfalia, which is co-funded through “LIFE+ Nature and Biodiversity.” The restoration of Lake Stymphalia at Peloponnese Region, Greece, and its long-term conservation through a systematic re-financing process, is the aim of the project. Through LIFE-Stymfalia it is expected to combine business and biodiversity and to provide practical solutions to funding Natura 2000 sites in the European Union.

Up to date, Piraeus Bank financed green projects with €1.58 billion, supporting a total of €3 billion investments in the field of circular economy. Over 7,000 SMEs have been supported so far in their green choices. It is also important to mention that over 17,700 green – Full Time Equivalent – jobs have been supported by Piraeus Bank green financing.

Piraeus Bank, having a firm strategy, acknowledges that dealing with contemporary environmental challenges paves a path for new business opportunities through investments in clean technologies, energy saving and other sectors that invigorate the economy, create new jobs and improve life quality.

For more information, please contact:

Mavromati Dora Senior Advisor on Press Communication, Piraeus Bank
Primikiri Elena Director, Green Banking Operations, Piraeus Bank
Dimopoulos Dimitrios Head Environment Unit, Piraeus Bank

For more from this organization:

Piraeus Bank


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