The global MSCI Index has upgraded Piraeus Bank’s ESG rating from “AA” to “AAA,” the highest score awarded for performance in environmental, social, and governance criteria (ESG). It is the first time the bank has received the top rating, placing it among global leaders in sustainability.
Piraeus Bank has steadily improved its standing since holding a “BBB” rating at the end of 2020 and is now the only Greek company to hold an “AAA” classification. Only 18% of banks assessed worldwide by MSCI ESG Ratings currently reach this level.
The MSCI Index measures a company’s resilience to long-term ESG risks linked to environmental impact, social responsibility, and corporate governance. Firms are rated within their industry on a scale from “CCC” to “AAA,” based on their performance and solutions to key issues relevant to their business model.
The upgraded rating reflects the bank’s commitment to reinforcing its sustainability foundation through the adoption of the EU’s Corporate Sustainability Reporting Directive (CSRD). These initiatives have further increased transparency across all areas of its operations.
The assessment is expected to bolster the Greek systemic bank’s reputation among institutional clients and investors.
The MSCI upgrade underscores the bank’s continued progress in integrating sustainability into its broader business strategy.
Source: tovima.com
