Piraeus Bank: Sustainable operation with tangible results

For 10 years, Piraeus Bank has been implementing programs aimed at the continuous reduction of the environmental footprint that comes from its daily operation. It implements, in its infrastructure and activities, an integrated and constantly improving Environmental Management System certified by EMAS.

These programs cover electricity consumption, resource consumption, such as printing paper and water, business travel, recycling of all kinds, and the adoption of new practices, such as the promotion of e-banking. In this way, it achieves a more complete design of the environmental management system and other environmental programs, with perfectly measurable goals, which lead to the reduction of operational impact, but also to the saving of resources.

As a result, the Bank managed to reduce by 22% the total CO2 emissions per employee since 2014, while the annual net economic benefit from the implementation of these environmental programs exceeded 5.5 million euros.

Energy Office

The Energy Office uses specialized software, unique in the Greek banking sector, which monitors energy and water consumption online and in real time in more than 330 building infrastructures of the Bank.

It is an innovative environmental infrastructure program, aimed at saving resources and reducing the environmental footprint and operating costs of the Bank. The software enables:

> Remote interventions in cases of energy errors, failures and exceeds.

> Monitoring the load characteristics of electricity consumption

> Analysis of energy consumption by end use.

> Collection of the necessary data for the performance of the Energy Control.

> Receive comparative energy data and export reports.

Climate risk assessment through Climabiz

Piraeus has also developed the Climabiz application for the financial assessment of the climate risk of the Bank’s business customers based on their turnover as well as the general, operational and technical characteristics of their financial sector.

Climabiz assesses in financial terms the risks arising from climate change in sectors and companies important to the Bank due to the exposure of its loan portfolio.

The Climabiz application identifies and analyzes for each financial sector and business client two main categories of risks related to climate change:

> Physical risk expresses the financial losses that a company may have due to changing climatic conditions, such as increase / decrease in average temperature or average rainfall, sea level rise, severe weather events, such as heat waves, floods etc.

> The Transition Risk concerns the additional costs faced by an enterprise under transition towards a low carbon economy. The Transition Risk is due to the reform of the regulatory framework, the risks arising from the new low carbon technologies, the changes in the market operating conditions, the preferences of the consumers, etc.

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