Piraeus Bank has embedded decarbonisation into its footprint, switching all branches and offices to renewable electricity and rolling out efficiency upgrades that already cut environmental impacts noticeably. At the same time, climate and nature-related risks have been woven into every layer of the risk framework and credit policy, ensuring that lending decisions weigh environmental and social factors as rigorously as traditional financial criteria.
Building on this governance bedrock, the bank refreshed its sustainable finance and green bond frameworks to mirror the latest EU standards. The new structures have underpinned a highly successful green senior bond that attracted broad international demand. A dedicated sustainability-linked loans framework now rewards corporate borrowers that meet clear environmental or social targets. Together, these mechanisms channel mainstream capital towards low-carbon technologies and nature-positive business models.
Climate and nature-related risks have been woven into every layer of the risk framework and credit policy
The bank’s transformation efforts extended to retail and small and medium-sized enterprise clients. A partnership with Visa and ecolitiq introduced Greece’s first in-app carbon calculator, giving cardholders real-time insight into the emissions behind everyday purchases and nudging them toward greener choices. Looking ahead, a new buildings retrofitting tool developed with CFP Green Buildings will be offered through e-banking, guiding property owners through energy-efficiency upgrades that align with national climate plans and boost asset values.
Piraeus has also demonstrated structuring expertise in complex sustainable finance deals. It arranged the entire project loan for a portfolio of large solar parks spanning multiple European countries and coordinated financing for the nation’s largest pumped-hydro energy storage scheme – an investment expected to unlock greater renewable penetration across southeast Europe.
