Scope 1 are the greenhouse gas emissions a company produces directly from sources it owns or controls, like fuel burned in company vehicles, boilers, or on-site factories. Think of it as the smoke coming out of a business’s own chimney versus electricity it buys from the grid. Investors watch Scope 1 because these direct emissions can create regulatory costs, operational changes, and reputational risks that affect profitability and long-term value.
scope 2technical
Scope 2 covers the greenhouse gas emissions produced indirectly when a business uses energy it buys from others—most commonly electricity, but also steam, heating or cooling. Think of it like the pollution linked to your household’s electricity bill: you didn’t burn the fuel yourself, but your consumption still causes emissions. Investors watch Scope 2 because it affects a company’s climate footprint, energy costs, regulatory exposure and reputation, all of which can influence long‑term financial performance.
carbon emissions intensitytechnical
Carbon emissions intensity measures the amount of greenhouse gases a company or operation produces for each unit of output—commonly per dollar of revenue, per product made, or per unit of energy generated. Think of it like a car’s miles-per-gallon: lower intensity means fewer emissions for the same activity. Investors use it to compare environmental efficiency, assess regulatory and transition risks, and judge potential costs or reputation impacts tied to a company’s carbon footprint.
cdp scoretechnical
A CDP score is a grade given to an organization based on how well it reports and manages environmental impacts such as greenhouse gas emissions, water use, and deforestation. Investors use it like a company’s environmental report card to judge transparency and risk: higher scores suggest better tracking and management of environmental problems, which can mean fewer surprises and long-term costs, while lower scores can signal potential liabilities or governance gaps.
science based targets initiative (sbti)technical
The Science Based Targets initiative (SBTi) is a nonprofit group that helps companies set and validate measurable plans to cut their greenhouse gas emissions in line with climate science. For investors, an SBTi-validated commitment is like a credible road map showing a company is planning concrete steps to reduce climate risk and comply with future regulations, which can affect long-term costs, competitiveness and asset value.
decarbonization targetstechnical
Planned goals a company sets to lower its greenhouse gas emissions over a specified timeline, often expressed as percentage reductions or a target year for ‘net-zero’ emissions and sometimes covering suppliers and products as well. Investors care because these targets shape future costs, regulatory risk, access to financing, and customer demand; they act like a roadmap a business uses to cut its pollution footprint and avoid unexpected expenses or reputational damage.
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ATHENS, Greece--(BUSINESS WIRE)--
Piraeus has been recognised for the sixth consecutive year in the FT’s Europe’s Climate Leaders 2026 ranking, compiled by Financial Times and Statista, as one of the 600 leading European companies that are acknowledged for their outstanding performance in reducing greenhouse gas emissions and advancing climate-related commitments.
This distinction reflects the Bank’s consistent progress in lowering its environmental footprint across operations and taking meaningful climate actions for its clients.
Notably, Piraeus is the only Greek company to have been included in the FT’s ranking for six consecutive years.
In the 2026 edition, Piraeus achieved the following:
5th place overall among 600 European companies
1st place in the Financial Services sector among 62 companies
1st place among 6 Greek companies included in the ranking
These outcomes are the result of significant emissions reductions across the Bank’s branch network and administration buildings between 2019 and 2024. Specifically, Piraeus recorded:
A 70.9% absolute reduction in direct emissions (Scope 1) and indirect emissions from electricity consumption (Scope 2 location-based emissions)
A 28.1% annualized reduction in carbon emissions intensity in Scope 1 and Scope 2 (i.e. tonnes of CO₂e per €1mn in revenue)
Further to emissions reductions, the recognition is also attributed to Piraeus’ high CDP score and its alignment with the Science Based Targets initiative (SBTi), demonstrating the Bank’s continuous commitment to credible, transparent, climate action.
Christos Megalou, Chief Executive Officer of Piraeus Bank commented: “This inclusion by the Financial Times highlights the progress Piraeus Bank has made in consistently advancing its climate objectives and strengthening its operational performance. Sustainability remains a core pillar of our strategy, guiding how we strengthen transparency, deliver measurable emissions reductions and support our clients as they transition towards a more resilient, low‑carbon economy.”
In response to the growing impact of climate change on economies and societies, Piraeus continues to implement a comprehensive sustainability strategy focused on responsible business practices and long-term value creation. Through policies and clearly defined decarbonization targets, disciplined business planning and active engagement with clients and investors, the Bank aims to contribute meaningfully to the transition toward a more sustainable, resilient, and inclusive economy.
About Piraeus
Piraeus, established in 1916, is the leading financial institution in Greece, in terms of market shares in loans, deposits, and branch presence. The Bank provides a comprehensive range of financial products and services, with recognized leadership in SME banking, retail banking, digital banking, and capital markets. Headquartered in Athens and listed on the Athens Stock Exchange, Piraeus employs approximately 8.1 thousand professionals and operates a nationwide network of 368 branches. 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.
