The President of the National Bank, Gikas Hardouvelis, spoke today at the conference of the Hellenic Capital Market Commission “The Future of Sustainable Finance” about two great opportunities in the banking sector in the context of the goals for dealing with the energy crisis.
This is the great shift towards sustainable energy sources and scaling wind and solar projects, which according to McKinsey, will require investments of more than 15 billion euros by 2030 and more than 50 billion euros by 2050, he said.
At the same time, Greek companies outside the energy sector and Greek households, will also invest in a more sustainable model in transport, real estate, industry and agriculture.
As Mr. Hardouvelis explained “to achieve this will require investments of more than 65 billion euros in these areas by 2030 and about 380 billion euros by 2050. In order to implement these, Greek banks will have to operate in addition to “Private investment and public funds (including the Recovery Fund) are an ambitious goal, but we have a duty as banks to help implement it.”
Mr. Hardouvelis reminded that Greece has set a goal to reduce emissions by 55% by 2030, 80% by 2040 and to have zero emissions by 2050.
He also said that although temporarily, global, European and national planning are affected by the energy crisis due to the war in Ukraine, “they are not overthrown”.
The imprint of the National is stable
At the National Bank, we have created a solid footprint in the financing of the renewable energy sector and we also maintain a strong banking tradition in relation to the “S” and “G” pillars of ESG, having received the Diamond ESG & Social award. “Responsibility of the Institute of Corporate Responsibility (CRI). Four times in the 14 years it is awarded in Greece”, said Mr. Hardouvelis in his speech.
As he pointed out, “guided by our experience to date, the transformation of banks in terms of viability requires active top-down guidance, by the Board of Directors and the CEO and continuous bottom-up cooperation by cross-sectoral teams covering all three lines of defense “.
“We are still in the early stages of this process. However, implementation is accelerating. It is important that we have chosen to update our Statement of Purpose to reflect the new reality that is emerging. That is, to create a healthier and more sustainable future, together with “Our clients and executives, in line with the vision of policymakers and the expectations of our regulators, our investors and society at large. This is the goal that will lead us forward and I feel confident that we all share its importance.” , he added.
Source: Capital
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