Action 1

Action 1: Project Management and Reporting

Action 1.A: Project Management

Action 1.B: Reporting

Action 1.C: Monitoring

Action 2

Action 2: Identifying Climate Change Risks and Opportunities for the Financial Sector

Action 2 aims at:

(a) identifying and enumerating climate change risks and opportunities for all business sectors in Greece

(b) making a preliminary evaluation of those risks and opportunities for the financial sector and

(c) preparing Piraeus Bank’s climate change adaptation strategy by setting the right priorities.

Action 2.A will aim at (a) an overview of the environmental effects of climate change in Southeastern Europe with special focus on Greece, (b) a preliminary identification of climate change risks and opportunities of all Greek business sectors.

In Action 2.B the simplified methodological framework developed in Action 2.A (at a country level) will be adapted for Piraeus Bank.

Action 2.C aims at gathering all necessary quantitative data needed to feed the models (developed in Action 3) that will calculate climate change risks and opportunities for businesses.

Action 3

Action 3: Quantifying Climate Change Risks and Opportunities

This action involves:

(a) the development of a Climate Risk Quantification Model in order to estimate in quantitative terms the climate change risks.

(b) the development of a Climate Risk Reduction Model that will provide integrated solutions to enhance adaptability to the new environment and to reduce carbon footprint and

(c) the elaboration of a Climate Opportunity Quantification Study highlighting the business opportunities at sectorial / sub-sectorial level..

Action 3.A involves the development of a Climate Risk Quantification Model in order to estimate in quantitative terms the climate change risks associated with specific economic sectors / sub-sectors / companies both due to existing or future regulations pertaining to climate change and the direct losses or gains attributable to increased temperature, drought, precipitation, extreme weather events and other parameters associated with climate change.

Action 3.B: After quantifying the climate risks, Piraeus Bank will proceed with an additional service i.e. the provision of solutions for adapting to climate change, as well as estimates of the cost for these solutions.

Action 3.C: Investments in renewable energy technologies, implementation of energy efficiency projects, promotion of new products enhancing the adaptation to climate change, consulting services for helping companies to deal with emissions trading, etc., are examples of opportunities associated with climate change. The Climate Opportunity Quantification Study will identify the size of these new markets in Greece in the next decade under different economic and policy scenarios

Action 4

Action 4: Motivating Businesses to Adapt to Climate Change

This Action aims to assist businesses to adapt to climate change through specialised services offered by Piraeus Bank with a particular focus on SMEs.

Action 4.A: A user friendly e-tool entitled “Climate Changes our Business Strategy Tool” will be created whereby trained Piraeus Bank personnel will be able to inform local businesses on their climate risks and/or opportunity and adaptation solutions.

Action 4.B: The ‘Climate Adaptation Best Business Practice Portal’ will be an electronic application that will provide a forum for potential investors, businesses and the general public to discover the current top best practices for low carbon products technologies and/ or services to reduce their climate footprints and risks.

Action 5

Action 5: Capacity Building for Business Opportunities in Climate Adaptation

In order to motivate businesses to adapt to climate change, it is imperative to train and motivate the Bank’s staff, especially the front line personnel. The objective is to generate positive attitudes among the staff toward the significance and the urgency of dealing with climate change, and build-up of an understanding that this project contributes to the solution.

Action 5.A: Development of the “Climate change adaptation & business opportunities” e-learning programme. The e-learning programme will comprise of two parts. Part one will describe the objectives of the project, the expected results and general information on global warming, the economic effects of climate change, and what adaptation is. Part two will describe how business opportunities derive from climate adaptation, and will include instructions on how to use the models constructed.

Action 5.B: At least twelve workshops on climate change risk assessment, adaptation and business opportunities will be organised. The workshops will mainly target the credit analysts, business planning staff and managers of selected divisions of the Bank. The purpose is to promote the overall objectives of the project, the e-learning programme and to provide a more interactive and intense training as regards the operation of the models.

Action 5.C: Additionally, information regarding the project’s objectives and international news on climate change adaptation and business, including successful case studies, will be regularly uploaded on the Bank’s intranet.

Action 6

Action 6: Project Communication and Dissemination

This Action aims at communicating the objectives of the project to the internal and external stakeholders. Internal stakeholders for the purpose of this project are defined as the Bank’s employees, and external, the Bank’s clients, the business sector (mainly SMEs), the academia (mainly in economics and climate scientists) and the general public.

Action 6.A: Organizing six road shows

Action 6.B: Publishing of two leaflets for the promotion of the climabiz project

Action 6.C: Drafting of a 3-year Media Plan

Action 6.D: Creating a short promotional material in the format of a DVD

Action 6.E: Launching of the climabiz website

Action 6.F: Design of notice boards

Action 6.G: Participation in international conferences and meetings. Publishing of a technical report: "Climate Change, the Economy and Finance"

Action 6.H: Publishing of a Layman’s report. After-LIFE communication plan

Share this