Piraeus Bank CEO: Investments of 500 billion euros until 2050 to make Greece green

Investments of 500 billion euros will be required by Greece to zero out carbon dioxide emissions from Greek industries, in accordance with the objectives of the National Climate Plan.

Piraeus Bank CEO Christos Megalou said this while speaking at the Reuters Responsible Business Europe 2023 conference held in London, underlining that “this transition will have a clear positive macroeconomic impact for the economy.”

As he said, “the transition to a carbon-free economy that protects the environment and helps tackle climate change is feasible and economically viable.”

According to Mr. Megalou, “for this reason we have placed sustainability at the heart of Piraeus Bank’s business strategy”.

He noted that “Piraeus Bank has supported and supports sectors such as Renewable Energy Sources (RES), Energy Storage, Responsible Agriculture, etc., playing an essential role in the sustainable development of the Greek economy”.

When asked about the role played by banks in sustainability issues, Mr. Megalou pointed out that “it is a challenge for Piraeus Bank and other Greek banks to provide comprehensive support to Greek businesses for investments in clean technologies, through specialized financial tools and consulting services”.

Mr. Megalou explained that “our role requires us to enable Greek businesses to adapt to the new model of sustainable development and energy saving that will allow them to strengthen their competitiveness in the market, reduce their operating costs and enter into new innovative areas. At Piraeus Bank we are ready to continue to facilitate progress and support our customers in the green transition.”