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Hellenic Bank: Commitment to the Green Transition of Cyprus

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 Ελληνικor Τρπ εζα: Προλση Πρσιεβ ;αση τησρουThe vision and actions for the green transition of the Cypriot economy were discussed during the first

  • Goals and commitments during the “Green Agenda Cyprus Summit< /li>

    The vision and actions for the green transition of the Cypriot economy were discussed during the first “Green Agenda Cyprus Summit”, organized with the support of the Hellenic Bank on Monday, May 20 in Nicosia .

    At the center of the discussions were the risks of climate change and their impact on human life, the banking system, industry, real estate and the insurance sector. The aim was to support the effort in the Green Transition of Cyprus so that our country becomes an example of an ecological lifestyle and sustainable development.

    As the transitional Chief Executive Officer of Hellenic Bank, Antonis Rouvas, emphasized during his speech, Hellenic has set clear goals and indicators aimed at reducing the organization's environmental footprint, while the purpose of the new ESG Strategy is to benefit all stakeholders of the Bank, i.e. customers, staff, investors and society.

    “We are committed to achieving a zero carbon balance by 2050 and we will achieve this through our operations, the financing we offer and our investments,” Mr. Rouvas emphasized. “To bring about change we need to engage our customers on this journey too, supporting them with the right finance products and giving them the tools they need to make the green transition,” he said.

    Hellenic Bank offers its customers specialized green products aimed at tackling climate change and upgrading their energy efficiency, both for businesses and households. Mr. Rouvas also referred to the Framework for Issuing Sustainable Bonds established by Hellenic Bank, which enables the Bank to issue green bonds. “Investors can diversify their portfolios, achieve the desired returns and at the same time their environmental and social goals”, he added.

    It is worth noting that Hellenic Bank's revised ESG Strategy from 2023 is now included in the Bank's Strategic Plan, incorporating specific objectives at all levels of the organization's operation. Consisting of four main pillars, which are in line with the UN sustainable development axes, as well as with the EU Green Deal and the Paris Agreement, Hellenic's ESG Strategy proposes:

    • The achievement of a zero balance carbon,

    • Creating the workforce of the future,

    • Increasing the resilience and efficiency of banking services and products and

    • Supporting the sustainability of the ecosystem.

    Source: politis.com.cy

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