Piraeus Bank Sustainability Profile
Piraeus Bank, officially known as Piraeus Bank S.A., is a prominent financial institution headquartered in Athens, Greece (GR). 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 38 is higher than 58% 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 2020, Piraeus Bank reported approximately 2,988,170 kg CO2e of carbon emissions per employee, with emissions per square metre at about 77.55 kg CO2e. The bank's emissions data for 2019 indicated a slight increase, with approximately 3,164,770 kg CO2e per employee and 85.04 kg CO2e per square metre. The most comprehensive emissions data available is from 2017, where Piraeus Bank disclosed a total of 29,989,940 kg CO2e (Scope 1), 34,671,960 kg CO2e (Scope 2), and 4,958,480 kg CO2e (Scope 3), which includes categories such as employee commute and purchased goods and services. Piraeus Bank has set ambitious climate commitments, aiming for net zero emissions by 2030 for both Scope 1 and Scope 2 emissions. Additionally, the bank previously targeted a 30% reduction in total greenhouse gas emissions (in absolute figures) from a 2014 baseline by 2019. These targets are part of a broader strategy to enhance sustainability and reduce environmental impact. The emissions data and climate commitments are cascaded from Piraeus Bank S.A., a current subsidiary of Piraeus Financial Holdings S.A. This corporate relationship underscores the bank's commitment to aligning with industry standards and best practices in climate action.
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| 2012 | 2016 | 2017 | |
|---|---|---|---|
| Scope 1 | 28,676,640 | 0,000,000 | 0,000,000 |
| Scope 2 | 28,789,730 | 00,000,000 | 00,000,000 |
| Scope 3 | 1,656,537,000 | 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 increased by 58% last year and decreased by approximately 100% since 2012, demonstrating supply chain emissions tracking. Their carbon footprint includes suppliers and value chain emissions, with Scope 3 emissions accounting for 12% of total emissions under the GHG Protocol, with "Purchased Goods and Services" being the largest emissions source at 22% of Scope 3 emissions.
Top Scope 3 Categories
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 not publicly committed to specific 2030 or 2050 climate goals through the major frameworks we track. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
