A green bond framework is a public set of rules and checks a borrower creates to show how money raised from green bonds will be used, tracked and reported for environmental projects — like a recipe or blueprint explaining eligible projects, how proceeds are kept separate, and how outcomes will be measured. Investors use the framework to judge credibility, reduce the chance of greenwashing, and compare projects’ environmental impact and risk, which can affect demand, pricing and ongoing monitoring.
green bond principlesfinancial
A set of voluntary guidelines that describe how debt can be raised to fund projects with clear environmental benefits, such as clean energy, pollution reduction, or sustainable buildings. They matter to investors because they provide a common checklist—covering what the money will pay for, how projects are chosen and monitored, and how progress is reported—so buyers can judge whether a bond truly supports green outcomes, much like a recipe reveals a product’s ingredients and quality.
eu taxonomyregulatory
A rulebook created by the European Union that lists which economic activities count as environmentally sustainable. It helps investors spot and compare genuinely “green” projects by setting clear criteria—like a recipe that tells you which ingredients qualify as organic—so firms and funds can report consistently and investors can judge environmental risks and opportunities more confidently.
do no significant harmregulatory
A standard that requires an activity, investment or product to avoid causing major negative impacts on other important goals (for example environmental, social or health objectives). Investors use it as a check against “greenwashing” and hidden risks: an investment can be marketed as beneficial in one area only if it does not substantially harm another. Think of it like renovating one room in a house while ensuring you don’t damage the foundation or other rooms.
sustainable development goalsother
A set of widely recognized, interlinked goals aimed at improving health, education, equality, economic opportunity and environmental protection around the world. Investors use these goals like a common roadmap or checklist to judge whether a company’s products, operations and long‑term plans reduce risks and capture new markets; alignment with the goals can signal resilience, regulatory readiness and access to customers and capital.
second-party opinionfinancial
An external expert’s written assessment that checks whether a company’s sustainability claims, green bond framework, or related project meets accepted industry standards. It gives investors an outside check — like getting a mechanic’s report before buying a used car — so they can judge how credible the environmental or social claims are, reducing the risk of misleading promises and helping compare opportunities more reliably.
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ATHENS, Greece--(BUSINESS WIRE)--
Piraeus Bank S.A. (hereinafter, “the Bank”) has received the highest assessment from Sustainable Fitch for its Green Bond Framework June 2026, reinforcing its role in financing Greece’s transition to a lower-carbon economy.
Sustainable Fitch assigned the Framework an “Excellent” assessment and confirmed that it is fully aligned with the International Capital Market Association Green Bond Principles 2025, a leading international standard for green bond issuance.
Piraeus Bank has issued four green bonds to date, with a total of €2.15 billion outstanding, demonstrating its strong and consistent commitment to sustainability. Approximately €1.2 billion of the net proceeds of the Bank’s outstanding green bonds have already been allocated to eligible green assets, further evidencing the effective deployment of funds towards environmentally & sustainable beneficial investments.
Christos Megalou, CEO of Piraeus, said: “Climate risk is now a real economic issue, not just an environmental one. In Greece, climate issues are shaping investment needs across energy and infrastructure. Our Green Bond Framework is designed to mobilise capital for that transition, supporting projects that help the economy decarbonise, adapt and become more resilient. Sustainable Fitch’s ‘Excellent’ assessment is an important recognition of that approach.”
The June 2026 update of the Green Bond Framework reflects evolving market practices, regulatory developments and the Bank’s strengthened sustainability strategy. The Framework defines eligible green investments across renewable energy, energy efficiency, green buildings and clean transportation, supporting the transition to a low-carbon economy and the Bank’s agenda towards achieving net zero by 2050. It also incorporates a clear commitment that at least 10% of bond proceeds will be allocated to EU Taxonomy-aligned projects, while the Bank aims to align financed assets with the EU Taxonomy Substantial Contribution Criteria and the “Do No Significant Harm” criteria on a best-efforts basis.
The financed projects under the Framework are expected to contribute to key United Nations Sustainable Development Goals (SDG), including SDG 7 on affordable and clean energy through the promotion of renewable energy and energy efficiency, SDG 9 on industry, innovation and infrastructure through sustainable infrastructure investments, SDG 11 on sustainable cities and communities through green buildings and transportation solutions, and SDG 13 on climate action through the reduction of greenhouse gas emissions and climate change mitigation.
Piraeus Bank continues to strengthen its position in sustainable finance, in line with its 2026–2030 strategy to grow profitably and support the Greek economy. The “Excellent” assessment by Sustainable Fitch, together with the Bank’s presence in the green bond market, highlights its commitment to financing the transition to a low-carbon economy and creating long-term value for its stakeholders.
About Piraeus Bank
Piraeus, established in 1916, is the leading financial institution in Greece, in terms of market shares in loans, deposits, and branch presence. As of 31 December 2025, Piraeus Group reported total assets of €91 billion. Piraeus is committed to supporting the country’s economic development and delivering long-term value for customers, shareholders, and society. Through disciplined execution, innovation, and sustainable banking principles, Piraeus aims to drive growth and resilience across its operations.
About Sustainable Fitch
Sustainable Fitch Ratings offer a global solution to assess Environmental, Social and Governance performance of all asset classes at an entity, framework and instrument level, helping the financial community make better, informed decisions. It has developed a modular analysis framework, enabling it to provide a Second-Party Opinion and a monitored suite of Sustainable Fitch Ratings including Entity Rating, Framework Rating and Instrument Rating.
