Strategic ESG Integration and Sustainability Reporting in the Greek Banking Sector: A Comparative Assessment

Abstract

This study investigates the integration of ESG principles in the Greek banking sector through a comparative analysis of the four systemic banks—National Bank of Greece, Eurobank, Piraeus Bank, and Alpha Bank—during 2019–2023. Using a qualitative approach based on secondary data, including sustainability reports, GRI-aligned indicators, and the ATHEX ESG Index, the research evaluates ESG performance across governance, environmental, and social dimensions. Findings highlight disparities in maturity: Eurobank and Alpha Bank demonstrate more advanced and transparent governance and environmental practices, while social indicators remain inconsistently reported. The ATHEX ESG Index is shown to enhance disclosure, though its methodology poses challenges for data quality and comparability. Results suggest that effective ESG integration strengthens resilience, transparency, and long-term competitiveness within the banking sector. However, greater standardization and innovative approaches are needed for Greek banks to align fully with international sustainability frameworks and the UN Sustainable Development Goals.