Piraeus Group initiated its ESG and climate governance structure since 2022, when it established the Board Ethics and ESG Committee to provide Board-level oversight of strategic climate-related risk and opportunity management.
The objective of the Board Ethics & ESG Committee is to consider the material ethical, environmental, social and governance issues relevant to Piraeus Group’s business activities and to support the Group in maintaining its position as a reference leader in ethical and ESG issues. The Committee works closely, also by holding joint sessions, with the other Board Committees for climate and ESG issues which are also related to their mandate. It is furthermore supported in its work by respective management committees of the Group, namely the ESG and Corporate Responsibility Committee of Piraeus Bank.
Τhe ESG and Corporate Responsibility Committee at management level is chaired by the Group’s CEO. Members of the Committee are Executive General Managers as well as other Top Management Executives of the Bank. The composition of the Committee, consisting of cross-functional C-suite and senior executives, reflects the prominent role the management of the Group is expected to play in shaping the Group’s approach to managing sustainability issues and integrating the Climate and ESG criteria into the Bank’s strategy, recognising that this is a key factor in ensuring long-term success and reflecting the fact that these issues are becoming materially relevant to the Group as well as to key stakeholders, such as customers and regulators. The ESG and Corporate Responsibility Committee is the management level “mirror” of the Board of Directors Committee for ESG and Ethics matters, aiming to ensure the existence of a holistic Group ESG and Corporate Responsibility strategy plan with tangible and defined medium and long-term goals.
By the ESG Governance, Piraeus wants to ensure that ESG is shared, steered, and accounted for at different levels of the Group. This governance setup allows to holistically steer across ESG themes like climate, biodiversity, human rights, gender diversity and financial health. Implementing a strategy that involves the necessary scale and complexity to achieve climate and ESG aspirations implies changing the way a financial institution does everything from developing products to measuring success.
The objective of the Board Ethics & ESG Committee is to consider the material ethical, environmental, social and governance issues relevant to Piraeus Group’s business activities and to support the Group in maintaining its position as a reference leader in ethical and ESG issues. The Committee works closely, also by holding joint sessions, with the other Board Committees for climate and ESG issues which are also related to their mandate. It is furthermore supported in its work by respective management committees of the Group, namely the ESG and Corporate Responsibility Committee of Piraeus Bank.
Τhe ESG and Corporate Responsibility Committee at management level is chaired by the Group’s CEO. Members of the Committee are Executive General Managers as well as other Top Management Executives of the Bank. The composition of the Committee, consisting of cross-functional C-suite and senior executives, reflects the prominent role the management of the Group is expected to play in shaping the Group’s approach to managing sustainability issues and integrating the Climate and ESG criteria into the Bank’s strategy, recognising that this is a key factor in ensuring long-term success and reflecting the fact that these issues are becoming materially relevant to the Group as well as to key stakeholders, such as customers and regulators. The ESG and Corporate Responsibility Committee is the management level “mirror” of the Board of Directors Committee for ESG and Ethics matters, aiming to ensure the existence of a holistic Group ESG and Corporate Responsibility strategy plan with tangible and defined medium and long-term goals.
By the ESG Governance, Piraeus wants to ensure that ESG is shared, steered, and accounted for at different levels of the Group. This governance setup allows to holistically steer across ESG themes like climate, biodiversity, human rights, gender diversity and financial health. Implementing a strategy that involves the necessary scale and complexity to achieve climate and ESG aspirations implies changing the way a financial institution does everything from developing products to measuring success.