Piraeus Bank

Piraeus Bank, a financial intermediation services provider headquartered in Greece, reported its most recent emissions for 2024. The bank's Scope 1 emissions were 10,268 kg CO2e, and its Scope 2 emissions (market-based) were 121,280 kg CO2e. For Scope 3, key categories included investments at 353,141 kg CO2e, purchased goods and services at 33,019 kg CO2e, and upstream transportation and distribution at 333,000 kg CO2e.

Piraeus Bank has set ambitious climate commitments, including a long-term goal of net-zero CO2 emissions for its portfolio by 2050. The bank aims to achieve zero Scope 2 market-based emissions from 2020 onwards and to halve Scope 1 emissions by 2030. Under the Science Based Targets initiative (SBTi), Piraeus Bank has committed to a 73% reduction in Scope 1 and Scope 2 emissions by 2030, using a 2019 base year. These targets cover 9% of its total investment and lending activities as of 2019, as cascaded from Piraeus Financial Holdings S.A. The bank also targets a 15% reduction in total electricity consumption and a 25% reduction in total heating oil consumption between 2020 and 2025. Piraeus Bank sources 100% of the electricity in its buildings from renewables, contributing to zero market-based Scope 2 emissions from 2020.