Piraeus Bank S.A. (hereinafter, “the Bank”) received the highest possible rating from Sustainable Fitch for its June 2026 Green Bond Framework, strengthening its role in financing Greece’s transition to a lower-carbon economy.
Sustainable Fitch assigned the Framework an “Excellent” rating and confirmed that it is fully aligned with the 2025 International Capital Market Association (ICMA) Green Bond Principles, the leading international standard for green bond issuance.
Piraeus Bank has issued to date four green bonds, totaling €2.15 billion, highlighting its steady and strong commitment to sustainability. Approximately €1.2 billion of the net proceeds from the Bank’s outstanding green bonds have already been allocated to eligible green projects, confirming the effective use of the funds in environmentally sustainable investments.
Christos Megalou, CEO of Piraeus, stated: “Climate risk is now a real economic issue and not merely an environmental matter. In Greece, climate-related challenges are shaping investment needs in the energy and infrastructure sectors.
Our Green Bond Framework has been designed to mobilize capital for this transition, supporting projects that contribute to the decarbonization of the economy, adaptation to climate change, and the strengthening of its resilience. The “Excellent” rating from Sustainable Fitch is an important recognition of this approach.”
The June 2026 update of the Green Bond Framework reflects evolving capital market practices, regulatory developments, and the Bank’s enhanced sustainability strategy.
The Framework defines eligible green investments in the sectors of renewable energy sources, energy efficiency, green buildings, and clean transportation, supporting the transition to a low-carbon economy and the Bank’s goal of achieving net-zero emissions by 2050.
The Framework also includes a clear commitment that at least 10% of bond proceeds will be directed to projects aligned with the European Taxonomy, while the Bank seeks, to the extent possible, the alignment of financed assets with the Substantial Contribution Criteria and the “Do No Significant Harm” principle of the European Taxonomy.
Projects financed under the Framework are expected to contribute to key United Nations Sustainable Development Goals (SDGs), such as Goal 7 for affordable and clean energy, through the promotion of renewable sources and energy efficiency, Goal 9 for industry, innovation and infrastructure, through sustainable investments, Goal 11 for sustainable cities and communities, through the promotion of green buildings and sustainable transport solutions, as well as Goal 13 for climate action, through the reduction of greenhouse gas emissions and addressing climate change.
Piraeus Bank continues to strengthen its position in sustainable financing, in alignment with its strategy for the 2026–2030 period aimed at profitable growth and support for the Greek economy, the relevant announcement continues. The “Excellent” rating from Sustainable Fitch, combined with the Bank’s presence in the green bond market, underscores its commitment to financing the transition to a low-carbon economy and creating long-term value for its shareholders.