Piraeus Bank in the context of its broader strategy for supporting 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 enterprises; with criteria relating to issues Environmental, Social and Corporate Governance (ESG). These criteria combine the development and economic performance with social and environmental sustainability and play a decisive role in the ability of companies to absorb the resources of the Recovery Fund but also to attract investment interest.

"Piraeus is the first Bank in Greece to provide financing with ESG characteristics and environmental sustainability clauses in sectors, from energy and industry to shipping, demonstrating in practice its commitment to promoting the circular sustainable economy," according to the announcement.

Under the relevant agreements, businesses are committed to supporting sustainable development. Aiming at

• reducing the environmental impact associated with their operation
• ensuring optimal working conditions
• maximizing their contribution to the local and wider community

To date, the Bank has implemented a number of such contracts involving large and medium-sized enterprises. The total amount of funding exceeds EUR 300 million. euros. Through these agreements the Bank has actively supported the low carbon footprint circular economy. At the same time it takes into account and issues relating to the impact of funding on society. The environmental benefit that is expected to be achieved in the coming years from the active partnership between businesses and Piraeus Bank is expected to contribute to:

• reducing greenhouse gas emissions
• the rational use of raw materials
• in general the protection of the natural environment