Climate change will have an adverse impact on many economic sectors (such as energy, food, construction, tourism, insurance). 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. Climabiz was an innovative LIFE project aimed to quantify risks and opportunities for Greek enterprises deriving from climate change. Piraeus Bank, the coordinating beneficiary, implemented the project in close cooperation with two associated beneficiaries, WWF Greece and Facets, with the goal to trigger the adaptation of the market to the risks and financial impacts of climate change. At the same time, the project was a case study of a financial institution’s attempt to prepare the market to combat (adapt and mitigate) climate change. The project’s innovation regarding the identification of adaptive responses towards climate change rested in the creation of the Climate Risk Management Model, which calculates, in monetized terms, the climate risk for Greek businesses and provides solutions to reducing this risk.