Piraeus upgraded to ‘AAA’ ESG Rating by MSCI

ATHENS, Greece--(BUSINESS WIRE)--MSCI has upgraded Piraeus’ ESG Rating from ‘AA’ to ‘AAA’, which is the highest rating available by MSCI on sustainability.

This is the first time Piraeus has achieved the top score, positioning the Bank as one of the leaders in sustainability in the financial industry at international level.

The Bank has managed to consistently improve its position from the ‘BBB’ rating in late 2020, to a ‘AAA’ rating, being the only Greek company at this level currently. It is worth mentioning that only 18% of the global universe under MSCI ESG rating is now rated ‘AAA’.

MSCI ESG Ratings aim to measure a company's resilience to long-term ESG risks. Companies are scored on an industry-relative ‘AAA’ to ‘CCC’ scale across the most relevant key issues based on their business model.

The upgrade highlights Piraeus’ advancements in several critical areas, building on its existing strengths and improvements in sustainability reporting, particularly its alignment with the EU Corporate Sustainability Reporting Directive.

These initiatives offer enhanced transparency regarding Piraeus' management of environmental, social, and governance matters throughout its operations.

This recognition further reinforces Piraeus’ reputation among institutional clients and investors. As ESG ratings become increasingly significant in capital allocation decisions, MSCI's upgrade highlights our ongoing advancement in integrating sustainability into our overall business strategy.