PKO Bank Polski monitors the information published on climate change caused by the human activities and is aware of the responsibility of companies to comply with the Paris Agreement. This is why in 2020 the bank launched an ESG project whose aim is to monitor and reduce the negative impact of the group's activities on the environment and the society. The bank tries to reduce its direct impact on the environment and motivates its customers to do so, by having adjusted the bank's lending policies for specific sectors of the economy.

In addition to taking charge of the financial results, the bank is guided by the principle of sustainability and attaches increasingly more importance to the way natural resources are used in its activities. In 2020, the group reduced its energy consumption by over 7% and reduced the CO2 emissions generated by its activities by 32%. Their main driver was the acceleration of digitization of the group's operations, which led to a faster transition of customer relationships into the digital world. The reduction in emissions was also largely influenced by the bank obtaining the guarantees of origin of electricity from low-emission sources. In 2020, the bank also implemented an ESG risk assessment in the lending process for corporate customers, introduced stricter criteria in its policy for financing carbon-intensive sectors, and opened up to channeling more financing towards the renewable energy sector.

Overview of the adopted ESG initiatives

EnvironmentalSocialCorporate governance
Extension of reporting of the bank's indirect emissions from domestic business travels (Scope 3)

Support in the digital adaptation and integration of COVID-19 public management systems

Implementation of an ESG risk assessment for corporate customers to identify non-financial risks
Update of the bank's Policy for Financing the Carbon-Intensive
Energy Sector
Provision of assistance under the PFR's anti-crisis shields and
the BGK's tools
Launch of assignments of the Group's Integrated Reporting Office (ESG team)

Adoption of the Policy for Financing the Renewable Energy Sector, enabling new renewable energy transactions

Transfer of over PLN 23 million for the fight against COVID-19 to hospitals and sanitation facilities

First identification of the main risk factors related to climate change for the bank

Purchase of guarantees of origin of electricity from low-emission sources, which covered 73.3 GWh out of 81.5 GWh consumed in 2020Engagement in a nationwide campaign to encourage Polish citizens to generate electricity from photovoltaic panels

Implementation of the bank's Code of Ethics in other entities to harmonize the ethical solutions, standards and values across the group

Performance of a gap analysis to implement an Energy Management System compliant with the ISO 50001 standard in 2021-2022Implementation of remote work solutions and digital services to ensure safety of the bank's employees and customers

Inclusion of the non-financial factors in the bank's updated strategy “PKO Banking Platform” for the years 2020-2022