Piraeus Bank Sustainability Profile
Piraeus Bank, officially known as Piraeus Bank S.A., is a prominent financial institution headquartered in Athens, Greece. Established in 1916, the bank has evolved into a key player in the Greek banking sector, with a strong presence across Southeast Europe. Piraeus Bank primarily operates in retail and corporate banking, offering a diverse range of services including loans, deposits, and investment products tailored to meet the needs of both individual and business clients. With a commitment to innovation, Piraeus Bank has introduced unique digital banking solutions that enhance customer experience. The bank has achieved significant milestones, including its successful restructuring and expansion into international markets. Recognised for its robust market position, Piraeus Bank continues to be a trusted partner for financial services, contributing to the economic development of the regions it serves.
DitchCarbon Score
How does Piraeus Bank's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Financial Intermediation industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Piraeus Bank's score of 54 is higher than 73% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Piraeus Bank's reported carbon emissions
In 2024, Piraeus Bank reported total carbon emissions of approximately 22,008,926,000 kg CO2e. This figure includes Scope 1 emissions of about 10,449,000 kg CO2e, primarily from stationary combustion, and Scope 2 emissions of approximately 121,721,000 kg CO2e (market-based). The bank's Scope 3 emissions were significant, totalling around 21,876,756,000 kg CO2e, with the majority stemming from investments (about 21,819,814,000 kg CO2e). In 2023, Piraeus Bank's emissions were reported globally at approximately 1,495,000 kg CO2e, with Scope 1 emissions at about 495,000 kg CO2e and Scope 3 emissions reaching around 1,000,000 kg CO2e. Notably, in Greece for the same year, the bank's Scope 1 emissions were about 1,238,411 kg CO2e, while Scope 2 emissions were minimal at 5 kg CO2e. Piraeus Bank has set ambitious climate commitments, aiming for its lending portfolio to achieve net zero by 2050 or sooner, focusing on carbon-intensive sectors. The bank has established near-term targets aligned with a 1.5°C pathway, covering 9% of its total investment and lending activities as of 2019. These targets are designed to ensure that emissions from company operations (Scopes 1 and 2) are consistent with necessary reductions to limit global warming. Overall, Piraeus Bank is actively working towards significant emissions reductions and aligning its financial activities with climate and nature solutions, reflecting a commitment to sustainability in the banking sector.
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| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Scope 1 | 2,819,760 | 0,000,000 | 000,000 | 000,000 |
| Scope 2 | - | 00,000,000 | - | - |
| Scope 3 | 368,636,000 | 000,000,000 | 0,000,000 | 0,000,000 |
How Carbon Intensive is Piraeus Bank's Industry?
How Carbon Intensive is Piraeus Bank's Location?
Piraeus Bank's Scope 3 Categories Breakdown
Piraeus Bank's Scope 3 emissions, which decreased by 9% last year and decreased by approximately 100% since 2020, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 67% of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 1063% of Scope 3 emissions.
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Piraeus Bank's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Piraeus Bank has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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Frequently Asked Questions
Common questions about Piraeus Bank's sustainability data and climate commitments