Piraeus Bank

Piraeus Bank's reported carbon emissions

Piraeus Bank, headquartered in GR and operating within financial intermediation services (excluding insurance and pension funding), has reported its carbon emissions and outlined climate commitments. For the reporting year 2025, Piraeus Bank reported total emissions of approximately 24.5 billion kg CO2e. This includes approximately 8.6 million kg CO2e for Scope 1 emissions and approximately 75.4 million kg CO2e for Scope 2 (market-based). Scope 3 emissions accounted for the largest portion, totalling approximately 24.4 billion kg CO2e, with investments representing the most significant category. In 2024, the bank's total emissions were approximately 22.0 billion kg CO2e. Scope 1 emissions were approximately 10.4 million kg CO2e, and Scope 2 (market-based) emissions were approximately 121.7 million kg CO2e. Scope 3 emissions amounted to approximately 21.9 billion kg CO2e, with investments again being the primary contributor. Piraeus Bank has set ambitious climate targets. It aims for net-zero CO2 emissions for its portfolio by 2050, aligning with broader industry net-zero goals. Specifically, the bank intends to achieve zero Scope 2 market-based emissions from 2020 onwards and has committed to halving Scope 1 emissions by 2030. Furthermore, under the Science Based Targets initiative (SBTi), Piraeus Bank has set a target of a 73% reduction in Scope 1 and Scope 2 emissions by 2030, using 2019 as a base year. The bank also has operational reduction targets for the period 2020-2025, including a 15% reduction in total electricity consumption and a 10% reduction in total paper consumption. In 2023, the bank focused on improving data accuracy for Scope 3 emissions and implementing the ISO 50001 standard.