Piraeus Bank: Increases corporate financing through sustainable development criteria (ESG)

Piraeus Bank, in the context of its broader strategy to support the sustainable development of the Greek economy and businesses and the harmonization of its operations with the Principles of Responsible Banking, provides financing to selected companies, with criteria related to Environment, Society and Corporate Governance ( Environmental, Social and Governance – ESG), according to a relevant announcement.

These criteria combine growth and economic performance with social and environmental sustainability and play a key role in the ability of companies to absorb the resources of the Recovery Fund but also to attract investment interest.

Piraeus Bank is the first bank in Greece to provide financing with ESG characteristics and environmental sustainability clauses in sectors, from energy and industry until recently shipping, proving in practice its commitment to promoting a cyclically sustainable economy.

The goals

Under the relevant agreements, companies are committed to supporting sustainable development, setting specific goals on a case-by-case basis, including:

-The optimization of their energy efficiency by reducing the final energy consumption per unit of product produced
The reduction of CO2 emissions per unit of product produced
-The reduction of water consumption per unit of product produced
-The reduction of waste from their production process
-Increasing the use of recycled raw materials
-Implementation of environmental and energy management systems, such as ISO 14001 and ISO 50001

The two companies

Specifically, Piraeus Bank proceeded to new financing by including in it ESG criteria to the companies:

ALUMINCO. The company has been active since 1982 and today is one of the most advanced companies in the design and production of aluminum architectural systems in the world. With continuous investments in new technologies and the most modern production lines, it has developed and consolidated hundreds of aluminum products, many of which are unique in their kind, with many innovations and patents. Provides systems for doors and windows, railings, fences, pergolas as well as specially designed facade systems for airports, towers, stadiums, and generally buildings of demanding specifications. Recently, it added a new product chapter, a premium collection of ‘architectline-friendly Skyline aluminum systems. It has strong export activity and long-term collaborations in more than 60 countries and is firmly committed to continuous research and development of products that meet both qualitatively, aesthetically and functionally in the demanding and rapidly evolving international markets. Through the “A Planet to Love” program, ALUMINCO works with integrated actions around the issue of sustainability throughout the value chain, educating end consumers, producing products with a lower CO2 footprint and developing aluminum systems for passive buildings. In recent years, it has been constantly investing in the improvement of both its building infrastructure and its mechanical equipment, using its own funds and making use of the benefits of development law, while receiving special provision for staff training and the dissemination of the principles of sustainable development with seminars and training programs. With the partnership of Piraeus Bank, the company is contractually committed to supporting sustainable development, setting targets for significant improvement of energy efficiency, increasing the use of secondary raw materials and the marketing of innovative products, high environmental efficiency, low energy imprint. In its 40 years of progress, it leads developments, investing in research and development, but also producing its products in an environmentally friendly way, applying in practice its motto “Building a sustainable future”.

VIOSER SA is a pharmaceutical company with the main object of producing parenteral pharmaceutical solutions, holding a leading position in the market and high know-how, with strict quality standards. The Company was founded in Trikala, Thessaly in 1980, introducing innovative technologies in the production of mountains in Greece. The production plant and the administrative services are housed in privately owned facilities in Trikala, while the Company also has sales branches in Athens and Thessaloniki. In recent years, VIOSER SA has developed strong export activity in countries inside and outside the European Union, with most of its production now available in foreign markets (in more than 20 countries on 4 continents), while continuing its investments in new production lines and storage areas. The company, in addition to utilizing its long experience in the specialized production of pharmaceutical solutions, strengthens its activities in the field of Research and Development (R&D) for the development, production and distribution of new products in the Greek and international market. As part of its commitment to sustainable development, VIOSER SA entered into a new financing agreement with PIRAEUS Bank, setting goals related to the improvement of energy efficiency, the reduction of gaseous pollutant emissions, while receiving special provision in the training of staff on issues related to the health and safety of employees and the protection of environment.

Piraeus Bank, by offering such financing, consistently implements the alignment of its activities with sustainable banking, with multiple benefits for society, the environment, its investors and shareholders.

To date, the Bank has implemented a number of such contracts for large and medium-sized enterprises, with a total amount of financing exceeding € 250 million. Through these contracts, the Bank has actively supported the low carbon circular economy, taking into account issues concerning the impact of funding on society. The environmental benefit that is expected to be achieved in the coming years from the active partnership between the companies and Piraeus Bank is estimated to contribute to the reduction of greenhouse gas emissions, the rational use of raw materials, as well as the protection of the natural environment in general.