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CSR Policy of NBG and its Group

Throughout its long history, National Bank of Greece has been at the forefront of Greek social and cultural life. Today, its socio-cultural role has been extended to embrace communities and cultures of other countries also, as NBG increasingly expands beyond the borders of Greece, but always retaining the principles of its essential nature and commitment. These are crystallized in the NBG Group’s Corporate Social Responsibility Policy (the “CSR Policy”), as adopted by NBG’s Board, which defines the fundamental values and objectives underlying NBG’s activities.

The CSR Policy reflects the keystones of the CSR framework and determines the CSR Action framework for the Bank and its Group. The CSR Policy should be used by the Boards of Directors of NBG subsidiaries as a guide for delegating authorities and responsibilities for the planning, implementation and control of each subsidiary’s CSR Action framework.

  • The purpose of our CSR Action

The Bank and its subsidiaries aim for high standards of corporate citizenship by preserving and promoting universal human values as well as the social, intellectual and cultural value systems of the countries in which NBG operates. The Bank further ensures that the CRS Action framework also remains aligned to the long-term interests of its shareholders.

 

  • Our Values
    • Respect for Human Rights
      The Bank and its subsidiaries fully comply with decisions that forbid cooperation with countries, businesses or persons supporting violence and terrorism.
    • Respect for the environment
      The Bank and its subsidiaries believe that environmental responsibility, through the adoption and implementation of specific environmental policies, constitutes an integral part of good corporate conduct.
    • Social contribution
      The Bank and its subsidiaries seek to contribute to social cohesion and advancement in their respective countries of operation and support efforts to address global social and development issues.
    • Contribution to Art, Culture and Education
      The Bank and its subsidiaries endeavour to enhance and promote cultural values and actions in the realms of art and education in each country of operation.
    • Independence
      All the CSR Action of the Bank and its subsidiaries is undertaken independently of any individual customer, shareholder or other related party interest. The Bank and its subsidiaries do not provide direct or indirect contribution or funding to political parties.

 

  • CSR Action Areas

The NBG Group’s CSR Action, reflecting NBG’s CSR values, is implemented in the following major areas:

1.The community
 
The Bank and its subsidiaries seek to extend support to social solidarity programmes, to the work of widely respected bodies and organizations addressing social issues, and to vulnerable social groups and individuals.
 
Their contribution is translated into sponsorships for awards, scholarships, research, publication of various works, books and special editions, support of scientific work, particularly conferences, covering the full range of the sciences. Their support and assistance extends also to various organizations promoting environmental protection and sustainable development, which reflects NBG’s commitment to contributing to an environmentally sustainable future for all. They also provide for knowledge and research needs, offering books to the libraries of various Universities, Technological Institutes and other social organizations, and NBG-owned IT equipment to educational and social foundations.
 
Lastly, they sponsor various national and international athletic events, such as the organization of meetings and sports federations, as well as individual athletes for their preparation and participation in international championships and Olympic Games.


 
2. Culture 
The Bank and its subsidiaries support music and the visual and performing arts through contributions to various cultural activities and events, and sponsorships for encouraging and promoting historical and cultural awareness and continuity, the preservation and restoration of monuments, archaeological excavations and publications of cultural and historical interest.
 
They further contribute to the organization of various conferences and other investment and finance-related events by offering support and assistance, including availability of NBG premises to third parties for events.
 
They provide for the recording, maintenance, preservation and enrichment of the works of art belonging to NBG’s Art Collection, lending works of art to various cultural bodies for their participation in various exhibitions in Athens or elsewhere in Greece as well as digital photographs of works of art to various bodies and individuals.

 

3. The Environment
 
The Bank and its subsidiaries consistently implement NBG’s policy for environmental protection and sustainable development, with a view to contributing to the staff’s and, in turn, shareholders’ and customers’ awareness of environmental issues. The Bank monitors and constantly improves its Environmental Management System, in compliance with international standard ISO 14001 and in line with international trends. It also provides for compliance with the relevant environmental legislation and integrates environmental protection standards into NBG business, setting targets on the basis of appropriate criteria and assessing the direct and indirect impact of its activities on the environment.
 
NBG’s Environmental Management System focuses on the conservation of natural resources, the rationalization of work-related travel and commuting, the effective management of paper and reduction of solid waste, the adoption of environmental standards in procurements and the implementation of a policy for the analysis and assessment of environmental risks in the processing of financing.

 

  • Authorities and Responsibilities

The Board of Directors of the Bank and of its subsidiaries, where appropriate, approves the annual budget for CSR-related activities as part of the Group’s budget.
 
Legal entities’ CEOs have primary responsibility for the implementation of NBG’s CSR policy.
 
The Bank’s CEO authorizes any commitment within the approved CSR budget and reports his most important decisions to the Board, and the Board authorizes any commitment in excess of the budget.
 
The Manager of the Board of Directors Secretariat Division is responsible for the implementation of the CSR policy and submits the annual CSR budget to the CEO in order to inform the Board and the shareholders, along with an annual summary report of CSR Action of NBG’s major subsidiaries.
 
The CEO may authorize the Manager of the Board of Directors Secretariat Division to take decisions for grants, where applicable, up to the amount of €30,000, not exceeding, in aggregate, 10% of the approved annual CSR budget.
 
The Boards of the NBG subsidiaries adopt their own frameworks of authorities and responsibilities, guided by NBG’s CSR policy.

 

  • Conflict of interest

In the event that a member of the Bank’s and the Group’s Board of Directors, senior manager or major shareholder is affiliated to a legal entity or body receiving a CSR commitment, Board approval is required, and at the time any such decision is taken the person concerned cannot be present. The definition of an affiliated person is included in NBG’s Corporate Governance Code.