Case study: How Alpha Services and Holdings Group works with its clients and customers to encourage sustainable practices

Stakeholder identification and consultation

Please describe which stakeholders (or groups/ types of stakeholders) you have identified, consulted, engaged, collaborated or partnered with for the purpose of implementing the Principles and improving your bank’s impacts. This should include a high-level overview of how your bank has identified relevant stakeholders, what issues were addressed/results achieved and how they fed into the action planning process.

Alpha Services and Holdings Group acknowledges that meaningful stakeholder engagement is a cornerstone of its responsible banking philosophy and vital for developing a sustainability strategy that is relevant, future-oriented, and capable of generating long-term value for its stakeholders. The Group’s stakeholder engagement strategy involves a broad spectrum of internal and external stakeholders, whose priorities and expectations directly shape its strategic decisions and operational activities.

The Group has identified four primary stakeholder groups with which it maintains active relationships, and whose insights and expertise influence its decision-making processes. Its engagement approach is founded on the principles of transparency, consistent communication, and constructive dialogue.

The Group’s activities are conducted on an annual, bi-annual, quarterly, and ad hoc basis, aligned with emerging issues and stakeholder priorities. A variety of channels and mechanisms are utilized, customized to meet the needs of different stakeholder groups:

• Investors: Engagement is carried out through the release of comprehensive sustainability disclosures, the Annual Governance & Sustainability Roadshow, regular meetings with ESG-focused institutional investors, quarterly earnings calls featuring sustainability updates, General Meetings with ESG disclosures, participation in sustainable finance conferences, and membership in sustainability indices and ESG rating assessments.
• Customers: Engagement occurs via customer satisfaction surveys, feedback mechanisms, and direct interactions with large corporate clients, SMEs, and small businesses.
• Employees and Society: The Group conducts regular employee engagement surveys, townhall meetings, targeted internal communications and training, engagement with employee representative bodies and trade unions, along with initiatives related to finance, corporate sustainability, local economic development, and participation in civil society forums.
• Official and Regulatory Authorities: Alpha Services and Holdings Group actively participates in banking associations (such as the Hellenic Banks Association and the European Banking Federation), contributes to sustainable finance working groups, and collaborates on the development of internationally recognized ESG standards and best practices.

In 2024, Alpha Services and Holdings Group further refined its approach by integrating stakeholder feedback more deeply into its business strategy and sustainability initiatives. The Group engaged both internal and external stakeholders to identify its most significant environmental and social impacts through the double materiality assessment. Following this process, no changes to its business model or overarching strategy were deemed necessary.

Key stakeholder concerns addressed in 2024 included:

• Establishing the initial set of sector-specific Net Zero greenhouse gas targets, aligned with the principles of the Net Zero Banking Alliance.
• Expanding the range of sustainable finance products to better support clients aiming to align their financing activities with environmental and social goals.
• Becoming a signatory to the United Nations Global Compact, reaffirming the Group’s commitment to the Ten Principles of responsible business.
• Improving accessibility to digital banking services to ensure technological innovations effectively serve all segments of society.
• Enhancing ESG criteria within vendor selection and management processes to extend sustainability commitments throughout the supply chain and business partnerships.
• Strengthening sustainability disclosures and regular progress updates.
• Actively supporting the development of sustainable finance policies and engaging in regulatory consultation processes.
• Promoting financial literacy among customers and society at large, empowering individuals and businesses to make informed financial decisions that support their long-term well-being.
• Leveraging the EU Recovery and Resilience Facility (RRF) under the National Recovery and Resilience Plan to accelerate green investments, helping small businesses improve their environmental footprint and reduce energy consumption through programs with the Hellenic Development Bank. The Group also continued supporting public infrastructure projects that deliver environmental and social benefits.
• Endorsed the Finance Statement on Plastic Pollution, launched by UNEP FI and other prominent organizations, acknowledging the significant impact of plastic pollution on the planet and the well-being of future generations.

Updates resulting from stakeholder engagement were presented to the Board of Directors and its Committees through designated meetings focused on integrating stakeholder perspectives on sustainability-related impacts into strategic planning and decision-making processes.

The Group’s stakeholder engagement practices are reviewed annually to ensure they remain inclusive, relevant, and adaptable to changing expectations. Alpha Services and Holdings Group upholds open and transparent communication channels, providing regular updates via sustainability disclosures and investor briefings.

In 2025, the Group aims to expand its engagement efforts to reach a wider range of stakeholders and promote more interactive dialogue. Alpha Services and Holdings Group will continue strengthening its partnerships with civil society organizations and exploring new collaborative initiatives that leverage its expertise and resources to generate positive social and environmental outcomes.

How did Alpha Services and Holdings Group work with its clients and customers to encourage sustainable practices and enable sustainable economic activities?

In its 2024 Responsible Banking Progress Statement Alpha Services and Holdings Group reports that it works with its clients and customers to encourage sustainable practices and enable sustainable economic activities as follows:

Alpha Services and Holdings Group is dedicated to supporting its customers’ decarbonization efforts by evolving its business model and implementing actions that promote sustainable practices in a comprehensive manner. The Group is actively increasing transparency, managing reputational, financial, and regulatory risks, and fostering long-term value creation for all stakeholders.

In line with this commitment, Alpha Services and Holdings Group provides customized financial products and services to its clients, empowering corporate and SME clients to invest in renewable energy, reduce waste, and transition to sustainable operations—driving systemic change across various sectors. Through its initiatives and the introduction of new sustainability-focused offerings, the Group enables customers to make sustainable financial decisions and access finance and affordable housing. Additionally, Alpha Services and Holdings Group delivers inclusive banking services to underserved communities, promoting financial inclusion.

Additionally, Alpha Services and Holdings Group supports its customers’ transition to a low-carbon economy by closely monitoring relevant carbon-related data and providing guidance and flexible financing solutions. The Group facilitates access to funding through tools such as the EU Resilience and Recovery Facility and the Hellenic Development Bank.

In 2024, the Group’s dedication to sustainable lending activities resulted in:
• €1.809 billion of new financing classified in accordance with the criteria of the Sustainable Finance Framework, including:

• €356 million allocated to Renewable Energy Systems;
• €67.5 million in new Retail Green and Social Loans;
• €1.8 million in Recycling and Reuse financing.

Alpha Bank has established an ESG due diligence process applicable to all non-individual clients. This process leverages an inter-banking initiative that has developed ESG questionnaires, including sector-specific and simplified versions for smaller businesses. Consequently, clients are encouraged to clearly articulate their commitments and to develop and implement effective strategies to mitigate risks and enhance their ESG performance.

UN Principles for Responsible Banking: Accelerating a positive global transition for people and the planet

With over 300 signatory banks representing almost half of the global banking industry, the Principles for Responsible Banking are the world’s foremost sustainable banking framework. Through these Principles, the banking community takes action to align core strategies, decision-making, lending and investment with the UN Sustainable Development Goals and international agreements such as the Paris Climate Agreement.

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The combination of all the above empowers FBRH to provide first class Principles for Responsible Banking (PRB) assurance services.

References:

This case study is based on published information by Alpha Services and Holdings Group, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.alpha.gr/-/media/AlphaHoldings/Files/enimerosi-ependuton/apologismoi-drastiriotiton/PRB_Responsible-Banking-Progress-Statement_Alpha-Services-and-Holdings-Group_260625.pdf

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