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 57 is higher than 74% 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, with significant contributions from Scope 3 emissions, which accounted for about 21,876,756,000 kg CO2e. Scope 1 emissions were reported at approximately 10,449,000 kg CO2e, while Scope 2 emissions totalled about 121,721,000 kg CO2e (market-based). In 2023, the bank's emissions were notably lower, with total emissions of about 14,950,000 kg CO2e, primarily driven by Scope 3 emissions at approximately 18,472,059,001 kg CO2e. Scope 1 emissions were around 1,238,411 kg CO2e, and Scope 2 emissions were minimal at 5 kg CO2e (market-based). Piraeus Bank has set ambitious climate commitments, aiming to steer its lending portfolio towards net zero by 2050 or sooner, focusing on carbon-intensive sectors. This commitment was initiated in 2023 and is part of a broader strategy to align lending with climate and nature solutions. Additionally, the bank has established near-term targets consistent with a 1.5°C pathway, covering 9% of its total investment and lending activities as of 2019. The bank's emissions data and climate targets are sourced from Piraeus Financial Holdings S.A., with no cascaded data from parent organizations. Piraeus Bank is actively working towards reducing its carbon footprint while addressing the challenges posed by climate change in the financial 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