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Environmental Management System

Piraeus Bank, in the context of its commitment for constant reduction of the environmental impacts from its operation, has developed and implements an Environmental Management System (EMS) in all its branches and administration buildings.

An Environmental Management System (EMS) is a tool that provides organisations with a method to systematically manage and improve the environmental aspects of their production processes. Piraeus Bank’s EMS meets the requirements of EMAS regulation.

Moreover, through the procedures of EMS, the Bank sets goals for continuous improvement and implementing the relevant environmental programs to achieve these goals.

The net economic benefit from the implementation of environmental programmes is €5 million, annually.

EMAS & ISO 14001: 2015 Environmental Certification

Since 2011, the Bank’s Environmental Management System (EMS) has been certified under ISO 14001 and EMAS (the strictest environmental management system).

In 2017, Piraeus Bank’s EMS was updated as to its overall documentation (procedures and documents) to comply with the requirements of the new ISO 14001:2015 standard and the modified EMAS (1505/2017) regulation.

The Environmental Statement, conducted on an annual basis, validates the Bank’s compliance to the EMAS regulation. The Environmental Statement is verified externally, and the same company certified that Piraeus Bank’s EMS in accordance with the requirements of the Standard ISO 14001.

With over 700 buildings and more than 900 directly involved employees in the EMS, Piraeus Bank is one of the largest organizations in Europe -in number of employees and buildings- to implement such a strict standard of environmental management.

Environmental Footprint Database

Piraeus Bank monitors its operational environmental impact in terms of energy, water and other resources, as well as the use of consumables and employees’ travels, by means of a special tool that estimates its environmental footprint over time and space (geographic distribution of the Bank’s network): the “Environmental Footprint Database”.

The Environmental Footprint Database allows for:

  • Automated data collection process for the calculation of the environmental footprint
  • The faster processing and control of all environmental data (about 350,000 entries per year)
  • More comprehensive environmental data analysis, to improve environmental reporting.

A major advantage of the Environmental Footprint Database is that the Bank can better plan its environmental projects, with measurable targets, leading to reduced operational impacts and resource savings. This tool also enables the follow-up and assessment of the Bank’s environmental performance and its benchmarking against policies of other organisations.

The Database was developed in the framework of the EU co-funded Greenbanking4life project and follows the data collection and processing methods developed according to the Greenhouse Gas Protocol (GHG) Initiative guidelines of the World Resources Institute (WRI).

Database on Environmental Legislation & Case Law

Α Database on Environmental Legislation & Case Law (DEL&CL) has been developed and is constantly updated, with the aim to support Piraeus Bank’s compliance with the applicable legal requirements and corporate responsibility commitments regarding the environment.

The DEL&CL provides the Bank with the necessary legal information regarding:

  • the general obligations and trends of environmental law,
  • the development and implementation of programs for the prevention and reduction of direct (operational) environmental impacts, particularly in the framework of the Environmental Management System, and
  • the task to reduce indirect (business) environmental impacts through environmental risk assessment, adaptation to climate change and the promotion of environmentally friendly investments and green business.

Environmental Objectives and Targets

The Bank yearly sets Environmental Objectives and Environmental Targets according to specific procedures of the EMS, in order to measure, monitor and control all its main operational activities and create adequate Environmental Programs for its continuous environmental improvement.

Environmental Programs

Piraeus Bank develops special Environmental Programs in order to be able to reduce its environmental footprint. Various Environmental Programs like energy and water saving programs in its buildings, solid waste management and recycling, business travel reduction activities and green procurement, have been applied effectively in the Bank since 2005, leading to a significant improvement of the Bank’s environmental performance.