Organizations internationally include in a growing range of their activities and products ESG (Environment, Social Cohesion and Governance) criteria, said Thanos Vlachopoulos, General Manager of Piraeus Corporate and Investment Bank, speaking today at the 14th R Credit Management Conference organized by ICAP. Piraeus Bank is a pioneer in the promotion of Sustainable Banking in Greece, said Mr. Vlachopoulos, emphasizing that “sustainable development, social approach and responsible banking are fully in line with the business model and values of Piraeus Bank, which seeks to has a consistently positive imprint on society. ”
In his presentation on “Banking in the ESG era. Piraeus Bank leading the way in ESG and sustainable finance”, the General Manager of Piraeus Bank noted that the commitment of companies and banks to green financing and sustainable investments is being strengthened internationally. ambitious targets have been set, but significant steps are still needed to fully adopt the ESG criteria. The European Union has a key role to play in shifting towards sustainable development, and changes in the supervisory framework of the European banking system reinforce this direction, he added.
According to Mr. Vlachopoulos, the action plan of Piraeus Bank on ESG issues, among others, includes:
* doubling the risk intention to 2 billion euros for renewable energy sources, energy savings and storage, energy offset, green housing,
* the allocation of EUR 500 million to support farmers in organic and smart agriculture,
* increase funding by € 1 billion for green public transport, electricity grid and infrastructure and the purchase or rental of electric vehicles,
* increase funding by ESG criteria by 100%.
Mr. Vlachopoulos pointed out that companies are at different degrees of maturity, depending on their size and the industry they belong to, in relation to the understanding and adoption of ESG criteria in their operation and corporate governance and this fact demonstrates the important role Banks need to play a role in raising awareness and educating their customers on Environment, Social Cohesion and Governance.
In order for all stakeholders – the state, banks, institutions and businesses – to meet the principles of sustainable development, new goals must be set, with an orientation that will not be limited to the “economic result” but will focus on the triple dimension of the result. that of people, the planet and profitability, concluded the General Manager of Piraeus Bank.
Source: AMPE
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Source From: Capital
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