“Our goal is to be a pillar of stability for the Greek economy, to fuel growth and support innovation,” said Piraeus Bank CEO Christos Megalou, speaking at Sustainability for Economy and People, pointing out that we are living in a difficult time with uncertainty for the future as ξ climate change “or rather the climate crisis is here”.

He also emphasized that the bank’s portfolio of serviced loans is close to €32 billion, maintaining the first position in loans in the Greek market with a market share of 25% and the goal is that in 2027 “we will have approached €40 billion, with more than €5 -6 billion of these towards sustainable development and the green transition.”

The speech in detail

Ladies and gentlemen, good evening

It is with great pleasure that I welcome you to this evening’s event.

Your presence here is a testament to our shared commitment to promoting sustainable development and innovation.

Our purpose is to exchange thoughts and experiences that will help us on the path to sustainable development for the economy and people.

We live in a difficult time with uncertainty about the future.

Climate change, or rather the “climate crisis” is here. We see its effects in fires, droughts and floods, and these effects have been further intensified by geopolitical events in our neighborhood.

Big banks like Piraeus have a critical role to play in supporting their customers, helping them to build resilience and move forward in the transition to a sustainable economy.

Piraeus has a long history of supporting sustainable development, based on the United Nations Principles for Responsible Banking, which it co-developed with a small group of UNEP FI member banks in 2019.

Our goal is to be a pillar of stability for the Greek economy, fuel growth and support innovation.

We seek to make our footprint positive and lasting, with benefits for our customers, our people, our shareholders and society as a whole, in full alignment with our vision and values.

Piraeus today holds a leading position and market share in the entire range of banking activities in Greece, with a broad customer base of more than 6 million customers, approximately 60% of the population of our country.

Our portfolio of serviced loans is close to €32 billion, maintaining the first position in loans in the Greek market with a market share of 25%.

Our goal is to reach €40 billion by 2027, with more than €5-6 billion of that towards sustainable development and the green transition.

We fund major infrastructure projects under way, both from the implementation of the RRF National Recovery and Resilience Plan and the National Energy and Climate Plan.

The National Energy and Climate Plan (ESEP), presented on October 11, 2024, is our country’s road map for achieving specific energy and climate goals, with a milestone in 2030 and the final goal of achieving climate neutrality in 2050 .

The revised ESEK aims to reduce greenhouse gas emissions by 59% by 2030 compared to the corresponding values ​​of 1990.

Today, however, I want to bring 4 examples of how in practice we support sustainability and innovation in Piraeus, outside the field of large infrastructures.

First example, the collaboration between Piraeus and CFP Green Buildings.

Piraeus, having sustainable development at the heart of its activities and emphasizing the energy upgrade of its customers’ homes, is entering into a strategic partnership with the company CFP Green Buildings, an innovative software provider that aims to enhance the energy efficiency of properties, with pan-European credentials in large multinational banks.

The collaboration will contribute to the implementation of an integrated new service of the Bank, which will include the development of a specialized tool that facilitates the evaluation of the energy efficiency of properties and proposes measures to optimize it, with a measurable financial benefit, as well as the provision of modern financial tools for the implementation of renovation works through a network of exclusive partners.

Through the service, which will be provided by Piraeus e-banking or with a visit to a store, the Bank’s customers who wish to upgrade their property energy-efficiently, will receive a personalized diagnosis, proposals and solutions for the sustainable renovation of their properties , as well as specialized products with preferential terms from the beginning of 2025.

By supporting, in the first stage, 150,000 existing customers through the financing of energy upgrade works, Piraeus promotes the Sustainable Development Goals and contributes in practice to the achievement of the objectives set by the European Union for 2030 and 2050.

Second example. The strengthening of greenhouse agriculture.

The scientific community predicts that climate change will have significant effects on agricultural production almost throughout Greece. On this particular subject, we will have an opportunity to hear more soon after.

However, proven climate change adaptation practices can reduce these negative impacts on agriculture and livestock.

Piraeus, with the largest market share in this sector, has developed specific strategies to support its customers in the agri-food sector.

It shows practical support with information and education on climate crisis issues, as well as offering specialized solutions, by strengthening precision agriculture, water management, renewable energy, organic agriculture.

We recently created the agri-food center of excellence with a dedicated team to analyze, monitor the agri-food sector, and offer innovative solutions.

In this context, we recently announced the new initiative to support investments in the modernization and installation of new greenhouses, offering a specialized range of consulting and financing solutions.

With modern greenhouses, production per hectare is increased, water and energy are saved, harmful agrochemicals are avoided, the natural environment and biodiversity are protected.
Our ambition is to multiply these units and in a five-year horizon to double the total number of acres of greenhouses throughout Greece, which is currently estimated at 48,000 acres.

Third example. Support in areas affected by fires and floods.

I mention the following only as an example.

We designed and implemented anti-corrosion and anti-flood projects in Parnitha on an area of ​​9,000 hectares, with a budget of more than 2 million euros, which we completed in a record time of 3.5 months, using forestry cooperatives. In the coming month we continue with Mount Penteliko also implementing anti-flood and anti-corrosion projects next to the urban fabric of Attica in an area of ​​9,000 acres and related budget.

We participated in the interbank account for Thessaly with a contribution of 12.5 million euros. As part of our contribution, a study by the specialized Dutch company HVA was completed last year for the Thessaly region, and this year a study on the Gyrtoni-Karla interconnection project was also started. An important project for the water management of the region.

We ran a student support program in the affected areas of Evros and Thessaly. We have supported the beekeepers in Evros with food and equipment and this year after the completion of the study of the Agricultural University we will proceed with planting so that the bees have permanent food.

Fourth example. MBA in Sustainability with the support of Piraeus.

To achieve the sustainability goals we have set, we are strengthening the initiatives we undertake to support young people to enter the labor market with claims, investing in specialized education as a key factor for sustainable development.

Together with the University of Piraeus, we have created the first Master’s Program specializing in Sustainable Development, “MBA in Sustainability powered by Piraeus”, which will be offered to excellent students, without tuition or fees from this year.

Ladies and gentlemen, in Piraeus, we are committed to operating responsibly, looking ahead and creating value for customers and society.

Our strategy sets measurable goals for:
• the sustainable borrowing of the economy
• managing our exposure to environmentally sensitive industries
• the energy upgrade of our customers’ properties
• the timely preparation of customers for the energy transition
• our carbon neutral operation
• optimal climate governance
• the relevant educational activities.

We see challenges as opportunities to contribute to a stronger economy, as well as an equal and inclusive society.

We have done a lot and are planning even more.

We seek to respond to the daily needs of people, businesses, and the real economy.

Thank you very much.