Eurobank Greenhouse Gas Εmissions Reduction

Eurobank Greenhouse Gas Εmissions Reduction

Eurobank Ergasias S.A.

Eurobank is one of the four pillars of the Greek banking system. Moreover, Eurobank group is present in Bulgaria, Serbia, Cyprus, Luxembourg and London.


Read more: www.eurobank.gr


Objective Action

Eurobank Greenhouse Gas Emissions Reduction through Energy Efficiency.


Target Audience

All Bank’s Employees.



Since 2008


Eurobank Ergasias S.A. implements an ISO 14001 certified and EMAS compliant Environmental Management System (EMS) and is the first bank in Greece and one of the few companies in Greece that implements an ISO 5001:2011 certified Energy Management System. In this context, it aims via energy saving (electricity, oil and natural gas) to Greenhouse Gas emissions reduction and contribution to Climate Change as, due to the nature of Bank’s activities, its emissions derive primarily from electricity consumption. For Carbon Footprint calculation, the Bank has been using the internationally accepted Greenhouse Gas Protocol (GHG protocol).

Beginning with procurement sector, the Bank assesses both the power supply requirements of energy providers and electrical and electronic equipment supplied. Following the Green Procurement Policy, the assessment gives emphasis on, inter alia, the potential ecological equipment labeling ( eg Energy class A +++, Energy Star).

On a periodic basis energy usage data (electricity, natural gas, oil) are collected through both HEDNO S.A. (Hellenic Electricity Distribution Network Operator S.A.) and energy providers, as well as automatic control systems such as specialized meters, etc. placed by the Bank. A special Electronic Application, the Bank has developed, has a significant contribution to energy use data collection and analysis per building/branch as it allows calculation of energy use in many different places (branches /buildings), while enabling ranking of different sites per electricity usage (top spenders /top savers).

The data above are criteria (among others) for the prioritization of the sites where energy audit is conducted according to ASHRAE Guideline 14-2002 and IPMVP (EVO) 1: 2014 Standard. Subsequently, a saving actions feasibility study is performed including techno-economic planning and energy saving technical intervention scenarios proposals, by calculating the energy savings and the expected return on investment. Following relevant assessments/approvals, the technical interventions are implemented.

The technical interventions are related to the electromechanical facilities performance improvement, the upgrade of mechanical /building infrastructure, while it shall be noted that, similar interventions are implemented in all new branches /areas and wherever extensive renovations are applied.

Some typical technical innervations that are implemented are presented below:

  • Installation of Building Management Systems (BMS) in the Bank’s administration buildings
  • Installation of motion detectors for the operation of the lighting systems and placement of LED systems in underground parking areas
  • Installation of VRF and autonomous air conditioning systems as well as ‘A’ class air cooled systems
  • Installation of supply and/or exhaust air ventilation systems with air recovery functions
  • Installation of lighting systems with energy saving (T5 fluorescent lamps with electronic ballasts) technologies.

Moreover, the Bank, recognizing human resources’ critical role in energy management efficiency and greenhouse gas emissions reduction, it designs and implements employee awareness actions through educational programs and participatory activities.

The Bank has set the target for 10% greenhouse gases emissions reduction (for scope 1 and 2) by 2020, through energy saving. 


Impact on Society

In 2015 compared to 2014 the Bank achieved:

  • over 7,400tn CO2e GHG emissions avoidance release
  • 15.48 % reduction of GHG emissions from energy consumption
  • 15.30 % reduction of GHG emissions from energy consumption/employee
  • 11.16 % reduction of electricity consumption/employee

In 2015 Employees’ participation was significant and it is consider that pertinent good performance will continue in 2016.

Initiative Location

All Bank’s Buildings and Branches in Greece.

Working with Organization

In order for Eurobank to reduce demand for energy consumption, it cooperates under an "Shared Savings Energy Performance Contract" with Eurobank Property Services, as Energy Services Company-ESCO, since the beginning of 2015. 


Workers Participation

The educational programs and employee awareness and participation activities are:

  • Branches’ Environmental Officers participation in an interactive educational program (e-learning) on Bank’s environmental issues, energy saving including.
  • Branches’ ranking according to their energy consumption, which further activates branches in order to improve their performance while the completion of a specialized Environmental Questionnaire is required.
  • Energy-Saving Campaigns Implementation: The first was conducted in 2008, and the second which began in early 2015 with annual duration titled “Good Energy — Don’t waste it, use it for something good”. Its aim was to raise employees’ awareness, by combining over environmental and social benefits and incentives, since part of the energy savings was donated to heat the Lyreio Children’s Foundation. The campaign included the following actions:
    • Communication of the campaign and the Ten Energy-Saving Tips (intranet site, e-mails etc.)
    • Placement of special energy-saving stickers in all administration buildings and branches, next to light and air conditioning switches and Managed Print Service devices, for permanent staff motivation/awareness.
    • Distribution of a quarterly Newsletter (highlighting the building with the largest energy savings in the pertinent quarter compared to previous year's performance as well as including other Bank’s environmental issues)

Employees’ participation was significant for energy saving goal achievement.

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