Piraeus Bank on Wednesday held a seminar to present a project designed to assess risks and opportunities for businesses in Greece and southeastern Europe as a result of climate change.

Dubbed 'Climabiz', the project is part-financed by the European Union's "Life+ Environment Policy and Governance" funding instrument, with Piraeus Bank acting as coordinator, while other participants and 'associated beneficiaries' include WWF Hellas and the FACE3TS, a consulting company specialising in energy, environment and climate change issues.

The aims of the project are to:

- Quantify financial impacts and business opportunities that arise from climate change in SE Europe, with special focus on Greece.

- Develop mechanisms that will monitor the financial impacts of climate change on Greek companies.

- Develop the necessary tools that will determine business opportunities deriving from climate change.

- Raising awareness, guiding and supporting companies towards a smoother adaptation to climate change.

- Informing and raising awareness among shareholders, suppliers, employees and the broader public with regard to tackling climate change and adapting to the new conditions.

The project will run in Greece, Bulgaria, Romania and Cyprus until the end of 2012.