Piraeus Bank S A : signed the “Finance for Biodiversity Pledge”

Today, 25 September 2020, during the 75th General Assembly of the United Nations 26 financial institutions, with Piraeus Bank amongst them, announced their pledge to finance biodiversity.

In the 'Finance for Biodiversity Pledge' the signatories call on the member- states ahead of the 15th meeting of the Conference of the Parties (COP 15), to the Convention on Biological Diversity, so as to reverse nature loss in this decade. The signatories also commit to setting targets, no later than 2024, in financing activities that protect and enhance biodiversity.

The Pledge was initiated by a group of European financial institutions that participate in the 'EU Business and Biodiversity Platform'. Piraeus Bank has been for years a member of the Platform and is actively contributing to discussions on how to promote nature protection through business activities.

By signing the 'Finance for Biodiversity Pledge', Piraeus Bank committed to including biodiversity targets within the framework of the Principles for Responsible Banking implementation. The Principles call on banks to align their businesses with the 17 Sustainable Development Goals which include biodiversity. Biodiversity and healthy ecosystems underpin healthy societies and vibrant economies.

As Christos Megalou, the CEO of Piraeus Bank, stated «biodiversity loss and climate change are the two biggest challenges for society and economy. Biodiversity is a significant pillar that supports many economic activities, such as the agri-food industry. As Piraeus Bank holds the largest market share in the agri-food sector, it acknowledges the responsibility it has in supporting agricultural businesses to deliver healthy and safe products to the consumers.

To this end, we will further enhance our cooperation with farmers and experts to set targets in protecting biodiversity and creating added value for our agricultural products. For many years Piraeus Bank has been demonstrating its tangible support to sustainable development, a development that respects the environment and society's needs'.

Athens, 25 September 2020