The PKO Bank Polski Group and PKO Bank Polski for the third time present their Statement on the non-financial information.
[GRI 102-1] The Statement forms a separate part of the Group Directors' Report. [GRI 102-51] The last Statement was prepared for the year 2019. [GRI 102-50, 102-52] It presents the operating activities of the group in the period from 1 January to 31 December 2020 and is published annually. [GRI 102-54] The Statement has been prepared in accordance with the GRI Standards: Core option and the domestic non-financial reporting requirements defined in the Accounting Act. Both the parent entity (PKO Bank Polski) and the bank's group satisfy the criteria designated for an entity that is required to draw up such Statement. The individual issues covered in the Statement have been presented on a group basis, along separate disclosures for the bank. [GRI 102-10, 102-49] The Statement for 2020 does not contain any significant changes in reporting of the organization and its supply chains or other changes in the reporting methods.
[GRI 102-56, 102-48] The Statement on the non-financial information for 2020 is not subject to an external audit and does not contain any adjustments of information provided in previous reports, except for the re-calculation of the greenhouse gas emissions' estimation for the base year due to the availability of more accurate data for certain locations. [GRI 102-42, 102-46] The preparation of the Statement was preceded by a materiality analysis of issues specified in the Accounting Act that had been conducted in the autumn of 2020. The first stage of the analysis involved a review of the relevant stakeholders of the group to date, including of the bank, and the areas of interactions between the group entities and the environment. [GRI 102-40, 102-47] We identified the following stakeholder groups and non-financial issues:
|Material non-financial issues|
|Environmental||Social and employment||Management|
| Customers, Employees, Social environment, |
incl. local communities, Shareholders
|Expanded environmental responsibility||Impact on the social environment, Human rights, Relationships with subcontractors and suppliers, Employees relations||Customer relations, Ethics, Product safety and customer security, Protection of privacy, Prevention of corruption, Prevention of money laundering|
The second stage involved a scope analysis of the management areas covered by the Statement, together with a review of the existing policies in place at the bank and the group's subsidiaries. The following tools were used in the study of materiality:
- in-depth interviews with representatives of the organizational units at the bank's headquarters,
- analysis of interactions with ESG rating agencies and other stakeholders,
- stakeholders’ opinion surveys regarding the significance of various issues for the company's image,
- inquiries forwarded by the bank to its subsidiaries to supplement the existing knowledge,
- review of the internal regulations of the bank and the generally applicable provisions of law.
The study of materiality showed that the bank and most subsidiaries already have in place the appropriate policies in all areas covered by the Statement, while the risks considered to be key risks have already been identified as part of the risk management process. In instances where such policies were still in preparation, they have been clearly pointed out. The Statement observes the principle of disclosing information in its appropriate context, in order to facilitate better understanding of the issue at hand (this applies to the description of risks identified in the group in chapters on the respective social and environmental issues). The “comply-or-explain” principle has been observed throughout: where full coordination of selected policies at the group level was incomplete, an explanation has been added.
[GRI 102-44] The bank noted an increased (in relation to 2019) interest of investors in environmental, social and corporate governance matters. Their questions usually concerned the bank’s actions aimed at supporting the stakeholders in fighting the epidemic, in particular in the context of the continuity of the bank’s operations, the safety of the customers and employees and participation in social initiatives. The investors were also interested in the bank’s approach to financing high emission industries and the mining sector, diversity policy regarding the management and sustainable development criteria. The bank’s participation in the international disclosures such as CDP Disclosure Insight Action or the Coal Policy Tool was appreciated by the investors. In response to the growing importance of ESG matters in investor relations, the bank launched a new ESG section on the Investor Relations website.