Innovation: Climate Drives Business

Last update: 10.10.2013
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Case studies in: 
climabiz, adaptation to climate change, financial institution, piraeus bank, life programm, environmental policy and government
Climate change will have an adverse impact on many economic sectors (such as energy, food, construction, tourism, insurance), but will also create new market opportunities.

In the banking sector, it is acknowledged that risks faced by clients also create risks for banks. Risk management activities should therefore aim at the management of risk for the benefit of the clients, the financial institutions and the business community alike.


The main goal is to trigger the adaptation of the market to the risks and opportunities of climate change.
Our main approach to reaching the projects aim was to develop a tool, the Climate Risk Management Model, in order to provide calculations for the costs of physical and regulatory climate risk at a sector, subsector and company level which are influenced by climate change, the costs and the benefits of the practices that a company can apply in order to reduce climate risk as well as the environmental footprint (air pollutants, greenhouse gases, liquid waste, solid waste) at a subsector and company level. This tool is used when clients-businesses ask for our advice.

All the necessary know-how gained through this experience was summarised into three reports , Climate change and Greek businesses: Risks and Opportunities, Climate change and business opportunities and Climate Change and Financial Sector, which were distributed to clients and personnel.

The dissemination of this know-how was enhanced by training and motivating the Banks staff, especially the front line personnel, who in turn would motivate businesses to adapt to climate change.
- Development of the "Climate Risk Management Model"
- Creation of the climabiz calculator (a simplified tool derived from the Climate Risk Management Model)

- Report: Climate change and Greek businesses: Risks and Opportunities
- Report: Climate change and business opportunities
- Report: Climate Change and Financial Sector

- 22 workshops on climate change risk assessment, adaptation and business opportunities have been organised
- Launching of the Green Banking Portal (
- Publication of two leaflets, one explaining the project, and a second one concerning the Green Banking Portal
-25 videos were being played in the bank branches and administration buildings as well as in the social media (
- Website
- Presentation of the climabiz project during the UNFCCC COP 18 held in Doha, Qatar.
- Laymans report
Climabiz E-Learning Program
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This innovation is the result of the project

Title: Financial Institutions: Preparing The Market For Adapting To Climate Change


11.01.2010 to 31.12.2012

completed project

Organisations and people involved in this eco-innovation.

Please click on an entry to view all contact details.


Field: Finance and insurance (Greece)

Role in project: Project Coordination

Contact person: Mr. DIMOPOULOS Dimitris





Role in project: Associated partner

Contact person: Mr. MIRASGEDIS Sevastianos




Role in project: Associated partner

Contact person: Mr. LIARIKOS Konstantinos