GR
Our ESG strategy and goals

Contributing to sustainable development with a sound strategy

Our holistic approach to ESG

Aiming to contribute to shaping a new environment for banking and business, we have placed sustainability at the core of our strategy. We integrate ESG criteria across all our activities and promote sustainable business practices. This way we ensure long-term value for our investors and society.

In 2023 we developed our comprehensive ESG strategy, which allows us to:

  • Contribute to an environmentally sustainable economy.
  • Foster healthy economies and societal progress.
  • Ensure robust and transparent governance.
DISCOVER OUR ESG GOVERNANCE MODEL

Our targets until 2025 for the environment

New sustainable financing
3 billion €
Zero financing to targeted activities with a negative impact on the environment
Set targets for net-zero emissions

Our targets until 2025 for society

Women in managerial posts
>40%
Young hires
+20%
Zero financing to targeted activities with a negative impact on health

Our targets until 2025 for governance

Female Independent Board Members
>40%
Incorporate ESG criteria in our remuneration and risk management frameworks
Independent Committee Chairs
100%
Independent Board Members in their majority

1st Greek bank to join the Net-Zero Banking Alliance

In 2023 we were the 1st Greek bank to become a signatory of the UN-convened Net-Zero Banking Alliance (NZBA). NZBA is the flagship climate initiative under the UN Principles for Responsible Banking, targeting net-zero emissions across the finance industry.

This initiative aims to reinforce and accelerate decarbonisation strategies, by providing an international framework and guidelines, in compliance with the Paris Agreement on climate change.

By joining the Net-Zero Banking Alliance, we are officially committing to aligning with net-zero emissions by 2050.

Taking on solid commitments and setting measurable targets

Based on clear and measurable targets, we review and monitor our impact on the 3 ESG pillars.

Our commitments towards a net-zero economy

By integrating environmental parameters in our strategy and decision-making, we:

  • Support our clients’ decarbonisation efforts.
  • Align our portfolio emissions to the objectives specified in the Paris Agreement on climate change.
  • Mitigate key drivers of biodiversity loss.
  • Support the transition to a circular economy.
  • Aim to achieve net-zero emissions in our own operation.

Our targets: from pledges to environmental action

To meet our commitments to support our clients and align our portfolio emissions, we plan to:

  • Allocate €3 billion in total to sustainable financing by 2025.
  • Allocate at least €1 billion for investments in renewable energy sources, as part of the total €3 billion in sustainable financing.
  • Allocate at least €300 million to retail green loans, including small businesses.
  • Launch new sustainability-based retail products, such as mortgages, personal loans and credit cards.\
  • Extend zero financing to new investments in thermal coal mining, upstream oil exploration or coal-fired energy production.


To meet our commitments to protect biodiversity and support the transition to a circular economy, we plan to:

  • Extend zero new financing to targeted activities harming species diversity, habitats and waterbodies.
  • Reduce annual paper consumption by 50% by the end of 2025, compared to 2019.


To fulfil our commitments to achieve net-zero emissions, we plan to:

  • Reduce our operating footprint and set net-zero targets within 2023.
  • Reduce our Scope 1 and 2 GHG emissions by 20% by the end of 2025.
  • Upgrade to LED lightning across our entire network.
  • Continue to procure 100% renewable electricity for all our buildings and branches.
  • Replace 70% of our corporate fleet with electric and/or hybrid vehicles.

Our commitments on healthy economies and societal progress

Through internal and external initiatives that foster healthy social paradigms and objectives, we:

  • Enhance people’s financial health through inclusive access to financing.
  • Provide an inclusive and safe work environment.
  • Support equal access to healthcare, education, culture and heritage.

Our targets: from pledges to social action

To fulfil our commitments, we plan to:

  • Hire 20% more young people by 2025.
  • Maintain our high percentage of women in managerial positions (>40%).
  • Support financial inclusion through educational programmes addressed to teachers, students and people over 55.
  • Increase access for people with mobility impairments to 85% of our branches by 2025.
  • Provide a safe and inclusive work environment.
  • Support equal access to culture for people with physical and cognitive impairments, the elderly, and children in remote areas.
  • Reduce financing to activities that harm our health and well-being, such as gambling, tobacco products and alcohol.

Our commitments on best practices for corporate governance

By introducing policies and regulations that align our corporate governance with our shareholders’ expectations, we:

  • Ensure a diversified and independent Board of Directors.
  • Integrate sustainability in our governance practices and strategy.
  • Promote transparency and safeguard business ethics.

Our targets: from pledges to governance action

To fulfil our commitments, we plan to:

  • Ensure that our Board of Directors and its Committees consist of independent members in their majority.
  • Make sure that a minimum of 40% of Non-Executive Board members are female.
  • Continuously engage with our investors and other stakeholders to align our priorities with their expectations.
  • Increase material information disclosure to all stakeholders.
  • Incorporate ESG criteria in our remuneration and risk management frameworks.
  • Safeguard internal risk controls that protect our clients’ data.

Promoting sustainable banking and investments

Our sustainable finance strategy is key to promoting sustainable banking and investments. It provides for the development of specific financial products that will allow us to support our clients’ transition to low-carbon business models, and also investments in technologies fostering decarbonisation and protecting the environment. In this context, we develop an ESG partner ecosystem to further promote green transition.

To effectively implement our strategy, and meet our sustainability objectives and commitments, we have established a Sustainable Finance Framework, to mobilise capital for sustainable economic activities. Our Sustainable Finance Framework:

  • Integrates environmental and social credentials into lending activities.
  • Defines eligibility criteria and process for classifying our financial products and services as sustainable.

This way, we are able to increase green lending and deliver positive impact on the UN Sustainable Development Goals (SDGs) and the Paris Agreement Climate goals.

To promote transparency and objectivity, we received an external review of our Sustainable Finance Framework by ISS Corporate Solutions, confirming the alignment to international best practices.

Our goal is to address new business opportunities and client needs, while improving the positive impact of our portfolio on the environment and society.


Shaping the future in a responsible and transparent manner

We champion progress and growth through developing our transformation programme, fostering proper governance and integrating sustainability practices in our operations. By redefining our corporate purpose and values, we aligned our day-to-day activities with sustainability principles.

In 2023 we launched the ESG Academy, aiming to raise awareness and train our employees, and consequently our clients, on climate-related risks and on adopting sustainable practices. This way, our strong brand complements the wider efforts to transition to a sustainable economy.

To ensure that all information is reliable, transparent and full, all sustainability disclosures are based on measurable, comparable and verifiable data. We make sure that investors, our clients and all stakeholders have access to proper information.

This way we manage to have a responsible attitude towards our clients make investors feel secure and protect them from greenwashing.

LEARN MORE ABOUT TRANSPARENCY IN DISCLOSURES

Institutional partnerships and initiatives

Working with Greek, European and international organisations that promote sustainability.
DISCOVER MORE
  • Through partnerships and initiatives, we:
  • Adopt and promote responsible practices.
  • Champion our commitment to a more sustainable and resilient banking system.

Discover the ESG pillars

With our sights set on a sustainable future, we are standing by our society and aim at effective corporate governance. 

Environment
We have adopted a responsible Environmental Policy and an advanced Environmental Management System, aiming at protecting the environment and mitigating climate change. 
Society
Standing by the society where we operate, we ensure all people enjoy equal access to healthcare services and cultural activities. We care for our people and offer equal opportunities to all. 
Governance
Our aim is to promote effective corporate governance. We operate based on the institutional framework, and the best practices at an international and European level.
ESG reporting hub
Through well-rounded reporting, we advocate transparency and accountability. We track our financial, environmental and social performance, and comply with the international standards and regulations, providing comprehensive and reliable disclosures.
FIND ESG REPORTS