BoG Guv: Urgent need to transition to sustainable development

“The ever-intensifying climate crisis combined with the energy crisis make imperative the need for a rapid transition to a more sustainable development with the contribution and cooperation of all interested parties”, stressed the governor of the Bank of Greece, Yiannis Stournaras, on the occasion of the World Environment Day.

Characteristically, Mr. Stournaras states that “central banks and supervisory authorities, internationally, within the framework of their mandate, continue to contribute to this end by further integrating sustainability issues into their operations. The Bank of Greece continues its work on climate change and sustainability with various actions in a wide range of its activities, in line with its commitment in the context of the United Nations Climate Change Conference (COP 26).

With regard to the environmental footprint of its own activities, in order to fulfill its commitment to reduce this, the Bank of Greece has established an environmental policy, with the aim of harmonizing all of its activities with the principles of environmental protection, through and implementing of a coherent Environmental Management System (EMS), according to the international ISO standard. In addition, it carries out a number of environmental actions, which are part of the “BoGreen – Bank of Green” program.

With the belief that we all have to make a positive impact on society, the Bank of Greece aims to develop its activities in harmony with the environment, as well as to strengthen its actions that reduce environmental impacts and, therefore, promote its triple bottom line social, environmental and economic development”.

The actions of the program

The actions included in the “BoGreen” program concern both the activities of its Mint and the rest of the Bank.

Examples include:

• application of building design principles of high architectural quality with bioclimatic parameters, in its new buildings,
• modernization of the old buildings with energy upgrading projects of its facilities,
• gradual release from energy-consuming burners and use of alternative energy sources,
• rational consumption of water and use of water from boreholes,
• extensive recycling program,
• minimizing waste and optimizing its management,
• energy utilization of damaged banknotes,
• gradual reduction of copies of its regular editions,
• introduction of “green criteria” in procurement and
• actions to inform and raise awareness of its staff