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Initiative

Sustainable Development at Eurobank

Sustainable Development at Eurobank
SUBMITTED FROM:

Eurobank S.A.

The Eurobank Group, consisting of Eurobank S.A. (Eurobank) and its subsidiaries, is a strong banking group active in six countries, with total assets of €67.7 billion and 11,394 employees. Eurobank Ergasias Services and Holdings S.A. (Eurobank Holdings) is the parent company of Eurobank Group. With a total network of 625 branches in Greece and abroad, Eurobank offers a comprehensive range of financial products and services to its retail and corporate customers. In Greece, Eurobank operations encompass a retail banking network, dedicated business centers, a Private Banking network and a dynamic digital presence. Eurobank also has presence in Bulgaria, Serbia, Cyprus, Luxembourg and United Kingdom (London). Eurobank’s philosophy focuses on providing quality services to its customers, paying attention to their particular and diverse needs. Beyond core business activity Eurobank, responding to the needs of today’s everchanging environment, consistently designs actions relating to social and environmental issues, adopting responsible practices that promote transparency and business ethics. Eurobank links its business decisions to environmental sustainability, social responsibility and corporate governance (ESG).


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Objective Action

Eurobank pays particular attention to the pillars of the economy, society and environment by developing actions and initiatives that promote sustainable growth and responsible entrepreneurship.

 

Target Audience

Eurobank employees as well as the customers and suppliers of the Group

 

Duration

The Group Sustainability Policy was adopted in 2016 and to date is the framework for promoting competitive, innovative and sustainable economic growth.


Description

Eurobank recognizes that its business affects the economic, environmental and social landscape in which it operates. The integration of all Sustainable Development issues into decision-making processes is achieved through the implementation and continuous improvement of the Group's Environmental and Social Management System, using inter alia detailed Group Guidelines and Procedures. In Eurobank’s financing and investing activities the environmental and social risks are monitored in order to adequately meet and manage the objectives set in the Sustainability Policy as well as the requirements and expectations of Eurobank stakeholders.

With the Sustainability Policy, the Group commits to taking its business decisions on the basis of environmental protection and sustainability. The Sustainable Development Policy is designed based on the best international sustainability practices and is implemented in all aspects of Eurobank's activity. In the daily operations of the Group, specific sustainability goals have been set, through which Eurobank achieves:

  • Optimal use of natural resources
  • Minimization of waste production
  • Pollution prevention
  • Climate change mitigation
  • Biodiversity and ecosystems protection.

The responsibility for the sustainable development and environmental issues is assigned to the Group's Environmental & Sustainability Committee, chaired by a Deputy Chief Executive Officer and Heads from all Bank units. The Committee provides strategic guidelines for sustainable development and monitors key sustainability indicators, while ensuring that the relevant Policies and Procedures of Eurobank's Quality, Environment and Energy Management Systems are properly implemented.

The Sustainability Policy is supported by individual policies such as the Quality Policy, the Environmental Policy, the Energy Management Policy and the Health and Safety Policy. As part of the implementation of the Policies, the Group applies certified Management Systems in accordance with International Standards, including the Quality Management System (ISO 9001), the Environmental Management System (ISO 14001, EMAS), the Energy Management System (ISO 50001) and the Health and Safety Management System (OHSAS 18001 / ELOT 1801).

Eurobank recognizes entrepreneurship as a main driver of the Greek economy, and designs and implements relevant actions that support the extroversion of Greek businesses, innovation and encourage new entrepreneurial initiatives. In this context, the Bank implements the “Go International” Business Mission Program. At the same time, the Bank, in cooperation with major export agents, has developed Exportgate.gr, a pioneering internet portal for international trade and business networking. In the field of innovative youth entrepreneurship, Eurobank, in collaboration with Corallia, implements the "egg-enter" grow • go” program, which provides an integrated framework for business incubation, acceleration and co-operation. To encourage innovation, the Bank is organizing in collaboration the “Beyond Hackathon” Regional Contest in order to develop innovative products and services oriented to FinTech.

In view of the responsible corporate function, Eurobank has undertaken a series of initiatives to support society. In the pillar "Education", the Bank has been implementing since 2003 the "Great Moment for Education" Program, which rewards every year the top-performing Lyceum graduates throughout the country. At the same time, from 2014 Eurobank, in collaboration with the "Apostoli" (“Mission”) of the Holy Archdiocese of Athens, supports the "Apostoli supports pupils" Program. Eurobank also supports a significant number of non-profit / charity organizations that support mainly children but also vulnerable social groups. At the same time Eurobank is actively involved in the promotion of culture and sports in the country.

We invest in a workplace where human and labor rights as well as health and safety are considered as top priority issues, in compliance with the existing social legislation.

Eurobank, in order to fully inform stakeholders regarding its performance in the pillars of sustainable development, issues the Corporate Responsibility Report following the Global Reporting Initiative's Guidelines.

In this context and in order to capture the expectations, concerns and demands of the stakeholders, the Bank conducts a materiality analysis, with a view to identifying the material issues relating to the Bank's sustainable development.

Eurobank recognizes the role of businesses in supporting the 17 United Nations Sustainable Development Goals and will be an active participant in the National Implementation Plan. 

More information is provided in the Corporate Responsibility Report and the annual Environmental Report.


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Impact on Society

Eurobank with a sense of corporate responsibility, and with sensitivity and respect has planned a series of actions and initiatives with a view to actively contributing to the improvement of the economic and social environment.

In more detail, Eurobank's performance in the pillars of sustainable development (economy, society and environment) is presented in the annual Corporate Responsibility Report and more information on environmental protection in the Environmental Report.



Initiative Location

The Sustainability Policy is implemented by all Group companies. The Group has presence in seven countries in total (Greece, Bulgaria, Romania, Serbia, Cyprus, Luxembourg and the United Kingdom).


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Working with Organization

Eurobank is actively involved in organizations and initiatives that promote responsible entrepreneurship and sustainable development:

  • United Nations Environment Programme – Finance Initiative (UNEP FI)
  • Energy Efficiency Financial Institutions Group (EEFIG)
  • Sustainable Development Committee of the Hellenic Bank Association (HBA)
  • Sustainable Greece 2020 Initiative
  • Hellenic Network for Corporate Social Responsibility –CSR Hellas

Additionally, the Bank follows internationally recognized standards and principles such as the UN Global Compact and the European Commission's Eco-Management and Audit Scheme (EMAS), while the Corporate Social Responsibility Report follows the guidelines of the Global Reporting Initiative and the ISO 26000 standard.


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Workers Participation

The Sustainability Policy concerns all the Eurobank Group employees.


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