The nature of the business activity of the bank and the group means that their direct impact on the environment is limited to consumption of natural resources. All entities of the group monitor their consumption of natural resources and engage in strategies to reduce it. An indirect impact on the environment relates to financing provided by the bank to business and public entities, and to its product offer. 

PKO Bank Polski adopted a set of ESG metrics and integrated them with the non-financial objectives of the Bank's Capital Group for the following years. The fulfilment of objectives will be verified using reliable and fully measurable data. The bank has committed to eliminating exposure to the coal mining sector by 2030 and increasing green financing by at least 5% y/y. The volume of green financing relative to the bank's assets will be maintained at a level at least 3x higher than financing of the carbon-intensive sectors.

In 2022, the Bank increased green financing by 54% y-o-y, making the value of its commitment to green financing 5 times higher than to high-carbon financing.

None of the group's entities conducted a project that could significantly affect the environment in 2022. [GRI 307-1] There were no pending administrative proceedings related to breaches of the environmental regulations by the bank or its subsidiaries that would result in financial penalties (in one subsidiary, waste collection fees were increased due to failure to meet the obligation of selective collection of municipal waste). 

[GRI 302-4] The Bank is continuing its efforts to implement an Energy Management System in accordance with ISO50001. The aim is to optimise the use of energy in the company, to introduce a single system for controlling energy consumption and to intensify efforts to reduce the consumption of energy carriers.

The Bank has the following policies: Renewable Energy Sources, High-Carbon Energy Sector, Chemicals-Oil-Gas, Revenue Real Estate (adopted and implemented in 2022), Construction and Building Materials, Car Dealers and CFM Companies, Public Health Care, Trade, Local Authorities (adopted and implemented in 2022).

In addition to the above-mentioned policies, the Bank (in the corporate segment) keeps abreast of market developments and trends in various industries/sectors, publishes internal materials (e.g. industry leaflets outlining current market trends) and organises industry meetings. These activities have a direct impact on the high quality of the loan portfolio.

Consumption of natural resources
Sectoral policies
ESG in the lending process
Green products offer