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Next Hellenic Bank leads sustainable development HOME • INSIDER • BUSINESS • Hellenic Bank leads sustainable development
The energy future of Cyprus, the transition to a green economy and the necessary shift towards renewable energy sources were developed during the Renewable Energy Holistic Solutions Conference held at the Hilton Hotel on Tuesday 19 April, with the support of Hellenic Bank.
The conference heard the trends and challenges of the time, exchanged ideas and suggestions for a sustainable energy model, emphasizing the investment opportunities that exist in the field of Renewable Energy Sources.
Hellenic Bank invests in sustainable development and leads the transition to a green economy through the adoption of sustainable operating practices, the financing of “green” companies, but also its participation in green initiatives. In particular, the Bank has established specific criteria for assessing social and environmental risks in the process of approving new financing, while it has set up a specialized team for sustainability and ESG (Environment, Society, Governance).
Speaking during the Neophytos Stefanou, Relationship Officer of Hellenic Bank, explained that the Bank's shift towards Renewable Energy is reflected in three pillars: Sustainability Strategy, Green Economy and Green Financing.
As he stressed, Hellenic Bank is committed to promoting sustainable business development by combining economic growth with environmental and social responsibility and good governance practices. The Bank's goal is to lead the turn in the Green Economy, with renewables having a catalytic role in this transition. With this in mind, the Bank has set up a specialized group for financing investments in renewable energy projects where potential investors can apply for financing. As he mentioned, Hellenic Bank has so far provided a very significant number of financing in green energy, while in the last 2 years the loans granted to RES projects amounted to over € 130 million.
Furthermore, Neophytos Stefanou analyzed in detail the financing process you follow at Hellenic Bank regarding the RES projects that will be included in the Competitive Electricity Market and provided useful information on a practical level regarding the general financing package.