Source: CSRwire

Press Release: Piraeus Bank : Piraeus Bank Publishes 2016 Sustainable Development Report

Piraeus Bank Group has published its 2016 Sustainable Development Report, in accordance with the GRI Standards of the Global Reporting Initiative. The report presents the important non-financial aspects of the organization's work in relation to its governance, its customers, suppliers, employees, society and the environment. A materiality survey was conducted for a fourth consecutive year, based on a questionnaire compiled for the purpose of assessing 16 CSR issues related to the stakeholders' reasonable expectations and interests, which consequently have an impact on society, the economy and the environment. These 16 issues were ranked based on their materiality in relation to judgments and decisions of the stakeholders as well as to their contribution to sustainable development. Adopting new technological solutions of superior standards in order to enhance the quality of products / services to its customers, offering a unique Customer Service and aiming at top Customer Satisfaction are among the significantly material issues that Piraeus Bank places a high priority. The Bank systematically focuses on its clients' individual needs and promotes products and services with responsibility and transparency.The Bank maintains its commitment to preserving and promoting the cultural heritage of Greece through the Piraeus Bank Group Cultural Foundation (PIOP), with emphasis on artisanal and industrial technology, while promoting the connection of Culture with the Environment. The Foundation aims at the functional interconnection and the balanced promotion of culture and the environment through the action plan of its network of thematic Museums in the regions of Greece. In 2016, PIOP inaugurated two new thematic museums: the Chios Mastic Museum and the Silversmithing Museum in Ioannina. Meanwhile, there has been a significant increase of the actions of the Foundation in the regions of Greece and Athens, supporting local communities.Piraeus Bank is strongly committed to protecting the environment and is one of the largest organizations (in terms of infrastructure area and number of employees) to have received the EMAS environmental certification and the new ISO 14001:2015, for the Environmental Management System it applies, with more than 700 buildings and over 900 employees directly involved. In 2016, Piraeus Bank proceeded with the creation of the virtual "Energy Office" through which energy and water consumption in approximately 300 branches is constantly monitored on-line in real time.Regarding its environmental footprint, compared to 2015, in 2016 Piraeus Bank:Reduced electricity consumption per employee by 3%Reduced CO2 emissions per employee by 2%Recycled more than 1,000 tonnes of paper and 27,400 tonersPiraeus Bank's Green Banking resulted in a total capacity of RES projects funded by the Group amounting to 1,017MW, translating to 19.3% of the total RES capacity in Greece and preventing the emission of over 2.120 mn tonnes of CO2 into the atmosphere. Additionally, in the 2011-2016 period approximately 6,000 jobs were created and preserved through targeted Green Banking loans. In 2016, Piraeus Bank Group proceeded with the design and development of a new integrated Environmental and Social Management System (ESMS), in order to monitor and evaluate the environmental and social performance of funded projects. The new ESMS constitutes a complete framework of operation and methodology for the recognition, evaluation and management of environmental and social risks that stem from business activities of financed customers.Piraeus Bank assesses on a yearly basis the climate exposure of its business borrowers, who are active in sectors of the economy that might be affected financially by climate change. The climate exposure assessment has been the first coordinated effort of financial evaluation of climate exposure of businesses that are active in Greece. The assessment is completed through the upgraded Climate Risk Management Model application that evaluates in monetary terms the climate exposure of Greek companies.The detailed progress of the European co-funded project LIFE-Stymfalia, for the protection of the biodiversity of Lake Stymphalia, is also presented. The LIFE-Stymfalia project proposes an alternative financing scheme based on the protection of the Lake and the commercial utilisation of the biomass and other renewable energy resources of the region, in order to secure the sustainability of management actions after the completion of the project. The 2016 Sustainable Development Report also focuses on Piraeus Bank's approach regarding the management of its Human Resources -a key success factor for achieving the Group's strategic goals- and the respect of Human Rights. Piraeus Bank, since 2004, has adopted the principles of the UN Global Compact and the Declaration of Human Rights. The Bank applies equal opportunity principles to all actions and opposes any form of discrimination, inequality or human rights violation while at the same time recognizes and respects diversity. All of the Bank's policies, procedures and human resource management practices are governed by those principles.Piraeus Bank Group ensures that its people continually enhance their skills by means of specialized programs and employment opportunities, thus securing and promoting their employability.Through rotation programs, the Bank ensures the facilitation of its people reassignments according to company needs while at the same time strengthening their comprehensive understanding of the financial sector.In 2016, Group Human Resources & Organizational Learning continued to invest in the shaping of a uniform corporate culture, the consolidation of the Values model, the development and training of employees, new technologies and means of two-way and open communication, as well as in the balanced and with transparent procedures utilization and allocation of its people within the Organization.Selected figures associated with Corporate Responsibility concerning Human Resources:Piraeus Bank Group Human Resources18,995employees Training man-hours at Group level813,735Volunteerism118 actions / 35,810 beneficiariesFinally, in depth information about key HR issues can be found in this report, such as: Commitment to Safeguarding Human Rights, Equal Opportunities for Career Development, Employee Assistance Programmes(EAPs) and more.To view the report, click here.For more information, please visit Piraeus Bank Group website:

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Christos Megalou's photo - CEO of Piraeus Bank S.A.


Christos Megalou

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Piraeus Bank provides investment banking, treasury and asset management services for individuals and institutions. Read more