We approach sustainable development and corporate social responsibility issues with a clear vision and strategy:
- By participating in bodies and organizations supporting sustainable development and CSR
- By participating in international assessment indices
- By implementing international standards and guidelines
Sustainable growth is our goal
In the context of our business operations and our commitment to corporate governance issues, NBG participates in national and international bodies, associations and organizations aiming to promote sustainable development. We interact with other bodies such as UNEP, FI, UN Global Compact, Sustainable Development Committee of the HBA, CSR Hellas etc., which perform coordinated actions with respect to sustainability-sensitive issues. We also undertake a series of commitments with respect to actions and initiatives that are fully aligned with our Sustainable Development Policy pillars.
- Participations in institutions and international initiatives
UN Global Compact:
United Nations Environment Program Finance Initiative (UNEP FI)
The Principles for Responsible Banking set out the banking industry’s role and responsibility in shaping a sustainable future and in aligning the banking sector with the objectives of the UN Sustainable Development Goals and the 2015 Paris Climate Agreement.
Mr. Pavlos Mylonas, NBG’s CEO stated: “With pride, NBG endorses the UNEP FI Principles for Responsible Βanking in the context of the United Nations Environment Program. NBG, throughout its long history dating back to 1841, has successfully addressed the challenges of the future. And today, CSR has become a pivotal part of our strategy. We are constantly taking new initiatives so as to invest in a sustainable future and create long-term value”.
Greek Sustainability Code
The Greek Sustainability Code provides a structured system regarding the transparency and commitment of businesses towards Sustainable Development and Responsible Entrepreneurship. It is based on international standards (such as the Global Reporting Initiative, United Nations Global Compact, OECD’s guidelines for multinational enterprises, EFFAS, EMAS) and on management systems applied by organizations (such as the ISO 26000, 9000, 14000). It is aligned with the European Sustainability Code providing added value to the participating organizations / enterprises, as it provides guidance regarind sustainable development and responsible operation both at a national and European level.
Hellenic Bank Association (HBA)
NBG is one of the core members of the HBA, which acts as a representative of the Greek and foreign financial institutions that conduct operations in Greece.
We participate in:
- Interbank Sustainable Development Committee of HBA
- ESG Risk Working Group
- ESG Financial Markets Group
Global Reporting Initiative (GRI) Standards
We publish a Corporate Social Responsibility Report pursuant to GRI standards.
ISO 26000:2010 on Corporate Social Responsibility
In the context of the bank’s compliance with the international best practices and CSR standards and following a successful audit performed by the independent audit and inspection organization TÜV AUSTRIA Hellas, NBG has received certification for the effective implementation, monitoring and coordination of the CSR principles in the bank and the group, as set out in ISO 26000:2010 International Guide.
Furthermore, we have successfully completed the certification procedure for four more international standards, namely:
- The Bank and Group Compliance Management System, as set out in the ISO 19600:2014 International Guide
- Τhe European Banking Authority's (EBA) Internal Governance Guidelines (EBAGL-2017-11)
- Quality Management (ISO 9001:2015)
- Anti-Bribery Management System (ISO 37001:2016)
These standards provide guidance for the creation, implementation, evaluation, maintenance and improvement of a flexible and efficient compliance management system within an organization, and are based on the principles of good governance, proportionality, transparency and sustainability.
Since 2007, NBG publishes, through the independent not-for-profit organization CARBON DISCLOSURE PROJECT (CDP), information and data regarding our strategy, policy and actions in the sectors of sustainability and climate change.
In 2020, the bank was classified under category C “Awareness” (scale ranges from D- to A+). Category C includes enterprises that have been proven to recognize both the impact of climate change in their operations, as well as the impact of their operations on the environment.
Participations in benchmarks
Bloomberg Gender-Equality Index 2022, for the fifth consecutive year
Following our assessment, we were included for the fifth consecutive year in Bloomberg’s Gender-Equality Index 2022.
The “Gender Equality Index 2022” recognizes businesses throughout the world that are committed to publishing data on gender with transparency and to promoting equality. In 2022, 418 businesses from 11 industries and 45 countries and regions are included in the index.
For the Bank's inclusion in the index, its policies on gender equality, avoidance of any kind of discrimination (such as wage discrimination, education, and development, benefits, etc.), and its corporate culture, which is distinguished for its balanced and equal opportunities working environment, were evaluated.
NBG’s participation in the Bloomberg Gender Equality Index (GEI) is evidence of its firm commitment to CSR and sustainable development issues, its commitment to continue and strengthen its initiatives on gender equality issues and the elimination of all forms of discrimination, while aligning wiith the UN's 2030 Development Goals (SDGs) Agenda, specifically Goal 5 (Achieve gender equality and empower all women and girls), Goal 8 (Promote constant, sustainable and inclusive economic growth and full and productive employment and decent work for all) and Goal 10 (Reduce inequality within and between countries).
In the FTSE4Good sustainability stock index for the seventh consecutive year
In verification of our commitment towards sustainable development and following an independent assessment pursuant to the FTSE4Good index, NBG was included, for the seventh consecutive year since 2014, in the FTSE4Good Index Series.
The FTSE4Good index series was created by FTSE Russell (trading name of FTSE International Limited and Frank Russell Company), the global provider of stock market indices, and was designed so as to measure the performance of businesses that implement strong practices in the Environment, the Society and Governance (ESG) sectors. The FTSE4Good indices are used by many market organizations for the creation and evaluation of socially responsible investment funds and other products.
The FTSE Russell rating scale and standards allow investors to understand, at many levels, a company's exposure to ESG issues and how it manages them. NBG was assessed for its performance across the three pillars, Environment, Society, Governance, on topics including but not limited to climate change, labor standards, human rights and society, corporate governance, and anti-corruption, which are also aligned with the UN Sustainable Development Goals (SDGs). This distinction confirms NBG’s consistently high performance on sustainable development issues.