United Nations Environment Programme – Finance Initiative (UNEP FI)
Since 2005 Eurobank has been a member of United Nations Environment Programme Finance Initiative (UNEP FI).
From 2010 to 2014, we were a member of the Banking Commission and the Global Steering Committee, and chaired the UNEP FI European Task Force.
UNEP FI Principles for Responsible Banking
In September 2019, Eurobank signed the Principles for Responsible Banking (PRB). This solidifies our commitment to undertake an active role in the pursuit of the UN Sustainable Development Goals (SDGs) and the Paris Agreement on climate change.
The Principles for Responsible Banking:
- Set the framework for the future development of a sustainable banking system with a strong positive mark on society and the environment.
- Are supported by over 200 banks around the world.
- Were shaped by the global banking industry through the United Nations Environment Programme Finance Initiative (UNEP FI).
- Signal the start of the most significant partnership to date between the global banking industry and the UN.
The 6 Principles, listed below, provide an effective framework to identify the role and responsibilities of the global banking sector in the context of the common effort towards creating a sustainable future.
UN Sustainable Development Goals (SDGs)
We have made sustainable development one of the foundations of our strategic planning. To this end, we link and align our business decisions with the UN Sustainable Development Goals (SDGs).
The SDGs, also known as the Global Goals, were adopted by all UN Member States in 2015 as a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity by 2030.
The 17 SDGs are integrated. This means they recognise that:
- Action in one area will affect outcomes in others.
- Development must balance social, economic and environmental sustainability.
UN Global Compact
A member since 2008, Eurobank has been participating voluntarily in the UN Global Compact initiative for sustainability and responsible business practices.
The UN Global Compact provides a framework of 10 internationally accepted principles in the areas of human rights, labour rights, protection of the environment and anti-corruption. To this end:
- We align our strategy and operations with these 10 internationally accepted principles.
- We publish an annual report with the activities that reflect our commitments to these principles on human rights, labour, the environment and anti-corruption.
Principles for Responsible Investment (PRI)
In 2018, subsidiary Eurobank Asset Management MFMC was the first asset management company in Greece to sign the Principles for Responsible Investment (PRI).
The PRIs were developed by an international group of institutional investors and reflect the increasing relevance of environmental, social and governance (ESG) issues to investment practices.
The PRI initiative numbers over 3,820 signatories, representing USD 121 trillion assets under management. It commenced in 2006, endorsed by the UN and UNEP FI, and supports the 17 Sustainable Development Goals adopted by the UN in 2015.
Priceless Planet Coalition
Eurobank is the only Greek bank that participates in the international Priceless Planet Coalition initiative by Mastercard®.
It is a platform with a global reach, dedicated to the fight against climate change. Bank institutions and organisations from all over the world are part of the action.
The goal is to plant 100 million trees within the next 5 years, all over the world.
Find out more about Eurobank’s participation in the Priceless Planet Coalition.
Eco-Management and Audit Scheme (EMAS)
Since 2009 Eurobank has been included in the Eco-Management and Audit Scheme (EMAS) register for following the EC Regulation on eco-management.
EMAS is a premium environmental management instrument promoted by the EU member states. It stands for performance, transparency and credibility.
Sustainable Greece 2020
Supporting the Sustainable Greece 2020 initiative since 2014, Eurobank has been instrumental in establishing the QualityNet Foundation:
- We work with the largest industry bodies in Greece.
- We raise awareness on sustainability, responsible business practices and social responsibility within the Greek business community and society at large.
- We help create methodologies and tools, such as the Sustainability Observatory, which relate to the three pillars of sustainable development: economy, the environment and society.
A member of CSR Hellas since 2003, Eurobank has been promoting the values and principles of Corporate Social Responsibility (CSR) among Greek enterprises and organisations.
- We apply best CSR practices.
- We carry out actions that foster social cohesion and sustainable development.
- We participate in CSR initiatives.
Steering Committee for Sustainability, Governance and Green Banking
A member since 2010, Eurobank played a leading part in the establishment of the Sustainable Development Committee of the Hellenic Bank Association (HBA). The Committee was replaced by the Steering Committee for Sustainability, Governance and Green Banking, which is chaired by Eurobank.
The HBA Committee:
- Is informed on and monitors developments in the international, European and national regulatory and legislative framework.
- Handles issues relating to sustainability and sustainable financing.
- Works with public bodies, business associations and other organisations of the private sector specialising on matters of sustainable development, as well as with the Financial Stability Fund (FSF), the Bank of Greece (BoG), and the European Banking Federation, to promote sustainable financing and development.
- Promotes interbank cooperation in addressing climate change, transitioning businesses and households to sustainable operating models and practices, and meeting educational needs in matters of sustainable development.
- Develops interbank collaborations, assisting the banks in meeting the requirements of the UNEP FI Principles for Responsible Banking and other important initiatives, such as the Principles for Responsible Investment, the Net Zero Banking Alliance, the TCFD, the TNFD, etc.
- Promotes horizontal cooperation in general, in alignment with UN SDG 17, forming or participating in relevant working groups.
The HBA Committee is supported by 2 working groups:
The Sustainability Working Group, handling ESG interactions with the market.
The Executive Committee (ExCo) Working Group, handling the completion of the TIRESIAS ESG Data Repository and Scoring project.
Energy Efficiency Financial Institutions Group (EEFIG)
Since 2013 Eurobank has been a member of the Energy Efficiency Financial Institutions Group (EEFIG), a permanent European Commission expert panel on Energy Efficiency Financing (EEF).
Set up by the European Commission Directorate-General for Energy (DG Energy) and the United Nations Environment Programme Finance Initiative (UNEP FI), the EEFIG aims to:
- Initiate dialogue with all entities involved.
- Promote the long-term financing of energy saving projects.