Piraeus Bank joins international financial partnership for biodiversity accounting
Piraeus Bank has recently joined the Partnership for Biodiversity Accounting Financials (PBAF) an international initiative of 21 financial institutions that aims to develop a shared methodology for measuring and reporting the impact of their loans and investments on biodiversity. This new initiative resonates with the Bank’s commitment to the Principles for Responsible Banking. It demonstrates the Bank’s long-standing leadership in sustainable banking as it introduces for the first time in the Greek banking system biodiversity, both as a risk and as an opportunity factor.
Biodiversity loss is recognized as a significant risk driver for society and the economy. The European Union has set specific and ambitious biodiversity targets by 2030, and new global targets will be determined at the conference of parties to the Convention on Biological Diversity taking place this year in China.
By joining the Partnership for Biodiversity Accounting Financials (PBAF), financial institutions commit to measuring their biodiversity footprint and set targets to restore and protect nature through their loans and investments.
Biodiversity underpins many economic activities, such as the agri- business sector. Piraeus Bank the leading provider of financing to the agriculture sector in the Greek market, recognizes the need to support an agri-business economy that provides healthy and safe products to consumers.
