2019 Financial
and Social Report

Environmental Impact Management

Bank Millennium has long been involved in reducing emissions in the organization and in commercial projects. It is worth emphasizing that historically the involvement in financing the coal mining and coal energy sectors was significantly lower than the average for the banking sector.

In 2019, the Bank formalized its approach to the climate issue and developed the Bank Millennium Group Environmental Policy. The document defines three main areas of ecological activity:

  • own environmentally friendly measures aimed at reducing the consumption of materials, energy, water and fuels;
  • funding of investments and
  • environmental education targeted at clients, business partners and employees.

Since 2011, the Group has been reporting information on its environmental impact, including data on greenhouse gas emissions in Scope 1 and Scope 2. In Scope 3, the Group is working on the analysis of existing methodologies and the possibility of defining a methodology that allows reliable reporting of data on indirect emissions. The Group extends knowledge on this subject by participating in consultations, conferences and workshops with expert (organized e.g. by WWF, the Association of Stock Exchange Issuers, WISE Europa or the Confederation of Lewiatan) and participates in the work of the Polish Bank Association.

The Bank Group also observes environmental protection regulations (Act on Waste) that impose an obligation of properly managing waste by collecting the requisite documentation (including the Waste Transfer Card), preparing and submitting reports to the pertinent Marshal’s Offices on the type and quantity of waste created. A company energy audit is conducted once every 5 years.

[GRI 102-15] The key risks associated with the absence of environmental issues management pertain to the Group’s adverse impact on the natural environment either through its own operating activity or through its funding of various projects. [GRI 102-11] The Group prevents this risk by submitting to legal regulations, monitoring its own environmental impact and implementing environmentally-friendly actions and observing the “Environmental Policy of the Bank Millennium Group” and the project financing rules.

[GRI 103-1, GRI 103-2, GRI 103-3] The indicators of the Group’s environmental impact are measured regularly. Environmental campaigns are conducted based on analyses of changes in these indicators. Environmental objectives relating to the consumption limits for materials, energy, fuels and water are included in the objectives imposed on managers of individual departments at the Bank. Fulfillment of these objectives is monitored on a regular basis and reported to the Management Board.

In the Carbon Disclosure Project (CDP) report for 2019, Millennium bcp (Bank Millennium’s parent company) received a rating of B (on an 8-point scale from A to D-). This result was better than the regional average for Europe (C) and better than the average for the financial services sector (C). The Bank was evaluated also by taking into consideration various data about the Bank Millennium Group in Poland in the following categories: leadership (implementation of best practices), climate management, awareness of the impact of climate change and transparency of environmental data reporting.

[GRI 102-30, GRI 307-1] In 2019 the Bank Millennium Group did not receive information on any case of it infringing the environmental protection regulations.

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