Financial and
ESG report 2020

Environmental activities

Bank Millennium Group conducts a number of activities aimed at optimizing the consumption of energy, water, fuel and purchased materials.

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Action

Description

Limiting plastic consumption 
  • popularity of payments using a virtual card and BLIK in a mobile application reduces the need to issue plastic cards; 
  • new option of a temporary card freeze eliminating the need to generate a new card immediately; 
  • water treatment purifiers have been installed in the Bank’s Head Office – there is no need to buy bottled water;  
  • based on the average number of shipments sent out, a limit for secure plastic envelope orders was set for each of the Bank’s organizational units.  
Efficient management of available resources 
  • Reuse of resources allows the Bank to reduce the purchased quantities of furnishings (desk chairs), own devices (shredders and bill counters) and consumable materials (e.g. toners, hangers, inking ribbons). 
  • Equipment and appliances from shut-down or reconstructed branches are forwarded for continued use in other outlets. 
IT Tools 
  • The IT system supports verification of each purchase order for materials and office equipment in terms of the justification for the purchase and the defined limit, thereby contributing to reduced consumption of resources. 
  • In 2020, the Bank completed the project of replacing workstations in bank outlets, from physical PCs to the VDI (Virtual Desktop Infrastructure) technology, achieving the target level of 3,500 workstations. VDI is a technology, in which each instance of a desktop (operating system) operates on a remote virtual machine and shares hardware resources (processor, operating memory, disk resources) with other virtual machines.  
  • VDI reduces considerably, among others, the consumption of plastic and electricity (for example, a “traditional” workstation consumes about 200W on average, while a “thin client” in the Bank’s model uses less than 5W. Despite the additional consumption of energy in the Data Center, the capacity of a single physical server to support hundreds of virtual machines allows the VDI technology to reduce the Bank’s carbon footprint significantly. 
Recycling – handing over 300 operational computers to people in need  

 

  • in cooperation with the Forani foundation, the Bank handed over 300 fully operational personal computers to schools, clubs in villages, the poor and disabled in Poland. Another batch of equipment will be donated to children receiving support from a specialist family aid center in the Śródmieście district in Warsaw. 
  • By providing the equipment, Bank Millennium not only reused the hardware but also responded to the educational, development and financial needs of many families suffering from poverty and aid and care centers, which have no funds to buy the infrastructure, which proved to be indispensable during the pandemic.  

 

Action

Description

Restrictions on printing of documents  
  • in the branches, internal transactions are accounted for in the system – there is no need to print them out. 
  • the quantity of paper ordered to print cash and treasury transactions is controlled on an ongoing basis, based on monthly cash transaction reports; 
  • through automation of the ATM settlement process, the related documents no longer have to be printed. 
  • monitoring of the number of printouts – reports are sent to the units generating the largest numbers of printouts, which allows them to take reduction measures; 
  • printouts can be made on company printers only after an employee logs into a specific device, which prevents accidental printouts. 
Opening an account online by using a selfie   
  • in 2020, the Bank introduced the possibility of opening an account online by using a selfie. The process is carried out fully online and does not require any printouts.  
Purchase of cinema tickets in a mobile application  
  • when cinema tickets are purchased directly in the app, they do not have to be printed – they can be presented on a phone screen or sent to friends directly from the app. 
Electronic property valuation in the mortgage loan application process 
  • The Bank has introduced the possibility of obtaining an electronic valuation of property, which is one of the documents needed in the process of applying for a mortgage loan. A valuation, or the whole property valuation process is commissioned by the Bank’s system and provided to the Bank for analysis also electronically. As a result, customers do not have to provide a hard copy document. In addition to paper, the Bank also saves electricity needed to scan documents and uses up a smaller number of toners, which must ultimately be disposed of.  
Confirmation of some transactions in branches through Mobile Authorization 
  • The Bank has rolled out the possibility of confirming some transactions through Mobile Authorization in branches. This is yet another important step towards digitizing the bank’s operations and reducing the volume of hard copy documents. So far, all transactions performed in branches were confirmed by a signature on a transaction confirmation form printed out by a bank employee. Now, a customer with an active Mobile Authorization is able to approve some of transactions ordered in a branch with a phone.  
  • This reduced the number of transaction-related printouts made in branches by as much as 11%. 
Opening and handling the Millennium Investment Program and structured deposits through remote channels   
  • The Bank continues to work on expanding its investment offering available through electronic banking channels. Among others, it has implemented the possibility of opening and handling the Millennium Investment Program (based on Millennium TFI Funds) and structured deposits through remote channels.  Access to investment products in the Millenet system and through the Mobile App reduces the volume of documents printed out in Bank branches.  
Opening a personal account with the Profit Savings Account with a selfie  
  • The Bank has introduced a new remote way to open a personal account with the Profit Savings Account by using a selfie. Customers are now able to manage their finances without leaving home – all it takes is a smartphone and Internet access. The process is very simple and safe. 
Electronic workflow of internal documents 
  • by introducing IT systems for processing internal documents, the circulation of most paper documents has been eliminated in the Bank; 
  • processing client documentation (e.g. loan applications) is based on electronic copies of documents; 
  • By continuing the digitization of its processes (both business and internal processes within the organization), in 2020 the Bank reduced the number of printouts by about 1/3rd, which translated to lower consumption of paper, printer toner as well as the space needed to archive hard copy documents (one of the examples is the possibility of mobile authorization of basic cashier operations and without printing hard copy confirmations).  
Less printouts for clients  
  • in 2020, an electronic document workflow was implemented through Millenet for Corporates. The solution supports transmission and receipt of digital documents and conclusion of contracts by using a qualified certificate for electronic signatures. As a result, the Bank does not have to print documents for signing.  
  • replacing the annual hard copy balance confirmations with notifications in the Millenet system for corporates brought about savings equivalent to about 23 full-grown average-sized trees (each of them can continue to absorb 1 ton of CO2 per cubic meter of growth and produce 727 kg of oxygen). 
  • some documents are posted on the Bank’s website and on the Internet banking site. Through Internet banking, the client is e.g. informed on changes in the terms and conditions of services (on durable media).  
  • consolidation of documents (several instructions in one document, several agreements in one form); 
  • shortening of documents (tables and equivalents of sentences instead of descriptions) to reduces the quantity of printed pages; 
  • access to e-government – option to submit official applications through the electronic banking channel, which reduces the consumption of paper (applications under the Family 500+, Good Start (300+) program, logging into the PUE ZUS platform, creation of a Trusted Profile; 
  • option to pay highway tolls, purchase public transport tickets and parking tickets through the mobile application; 
  • electronic statements – electronic statements are the default option for every new client concluding an agreement for bank products and services. It is possible to opt out of this option at a client’s request; 
  • the Bank additionally carries out active campaigns promoting the use of electronic statements. Customers of the former Euro Bank are the ones that we encourage the most, as previously they received bank statements only by traditional mail or in the branch. 
  • electronic application process for products: opening of another bank account, cash withdrawals, loan applications, establishment of a term deposit, etc.; 
  • contactless payments with a telephone with the option of virtualization of plastic cards and promotion of cashless payments;  
  • purchase of insurance products also through remote channels, where insurance can be purchased conveniently and intuitively, fully online, without the need to use paper documentation;  
  • when applying for a mortgage loan, it is possible to directly upload scanned documents to the Bank’s system. They are collected from public registers and clients’ current account statements generated on-line.  
  • the goodie procurement platform launched by Bank Millennium makes it possible to browse stores’ online offers and electronic newspapers instead of their hard copy counterparts;  
  • On-line trade finance module – solution for corporate clients facilitating electronic orders and remote correspondence with the Bank; 
  • e-guarantee for business clients – it is a bank guarantee issued in electronic form (as PDF file) using qualified electronic signatures of two of the Bank’s legal representatives; 
  • In Millennium TFI, transaction confirmations may be sent to the client by e-mail, replacing hard copy confirmations. A customer provides an e-mail address, to which electronic confirmations are to be sent.  
  • The distributors, with which TFI has signed distribution contracts, offer the possibility of purchasing fund units over the Internet (the purchase form has an electronic version). 
  • Millennium Leasing offers electronic invoices and text message notifications with information about new invoices, upcoming due dates and missed payment dates. 
  • The priority initiative of Millennium Leasing is the promotion of the e-signature implemented in 2020 as a form of signing contracts and applications. 
Product sales via remote channels 
  • Retail clients may apply for credit, savings and insurance products using remote channels where paper documentation does not exist at all. In this process, an agreement is approved by the SMS P@ssword and its wording is available in the system, so it does not need to be printed out.  
  • corporate clients are encouraged to apply for loans and payment cards and for opening of new accounts through the Internet banking system, in which the entire documentation is uploaded remotely.  

 

In 2020, digitization of products accelerated and, in view of the COVID-19 pandemic, consumer habits changed considerably – they were more willing to use online solutions, both in banking products and in additional services. The number of Internet-based transactions and e-commerce payments increased significantly, especially in respect to BLIK payments, in which the volume of transactions nearly doubled (+90%). At the end of 2020, the number of customers using Mobile Authorization was 525% higher than one year before. 

Share of electronic channels in the volume of major product sales 

Personal accounts* Cash loans Term deposits
25%  49%  91% 
*process commenced in the electronic channel

Increase in the number customers using online services

  2020 % in 2020 2019 % in 2019 difference comment
All clients with access to electronic banking  3,230,769    3,049,471    6%   
Active users of electronic banking  2,052,806    1,838,363    12%   
Active users of mobile banking  1,658,554    1,410 855    18%   
Clients using Mobile Authorization  1,394,169    223,060    525%   
Clients using open banking services (Finance 360°)  36,300          Introduction of the service in 2020 
Clients using online statements  2,643,960  63%  2,415,393   79%  9%  The result is worse due to migration of Euro Bank customers 
Clients with access to e-administration  664,695    282,350    135%   

Action

Description

Energy-efficient building of the Bank’s Head Office in Warsaw 
  • savings in energy consumption were achieved, among others, by using modern LED lighting in Head Office stairwells and offices. 
  • in 2020, the Bank replaced the lighting in the Head Office offices with modern LED lighting. The decision was aimed at improving energy efficiency – reducing CO2 emissions and analyzing ongoing costs of electricity consumption as compared to the available modern solutions and their impact on the environment.  
  • overall, about 12,000 fluorescent technology lighting fixtures were replaced with modern LED fixtures. This reduced energy consumption for this purpose by 54% and annual CO2 emissions by 500 tons.    
  • the improved quality of lighting in offices has had an enormous impact on the health and well-being and productivity of employees.  
  • the lighting upgrade has allowed the Bank to apply to the Energy Regulatory Office for an allotment of white certificates, which constitute an energy certificate and confirm the quantity of energy saved. 
  • heat recovery in ventilation units, fancoils switched to an economic mode at night, silent operation of the central heating unit at night; light turned off on a temporary basis after 6:00 p.m., rainwater collection and use system.  
  • The office building has a BREEAM certificate for environmentally-friendly buildings. 
Reduction of the working time of technical devices  
  • The reduced working time of technical devices in Head Office buildings in 2020 was particularly significant because of the pandemic and limited presence of employees in office spaces. The Bank changed the technical settings and parameters of office equipment, such as: the time of operation of office lights, the time of operation of ventilation and air conditioning equipment and changed the temperature settings in individual areas. This optimization allowed it to minimize consumption of electricity in the Bank’s head offices. 
Energy savings in branches 
  • in all branches, traditional light sources in advertising panels were replaced with energy-efficient LEDs; 
  • time control of the lighting of advertising panels using astronomical clocks;  
  • in 2020, LED lighting was installed in four more branches, which means that there are a total of 117 branches with LED lighting;  
  • in all outlets, the operation of the air conditioning system has been limited by installing operation control clocks. 
  • in connection with the changed opening hours of the outlets due to the pandemic, the time of operation of devices and lights in owned outlets and buildings was reduced. 
Rational management of energy consumption  
  • in the Bank’s Head Office, air conditioning is set at 21 degrees Celsius and ceases to operate after working hours; 
  • in all branches of the Bank, clocks controlling the air conditioning operation time have been installed; 
  • virtualization of servers has made is possible to reduce the number of physical hardware in the computer center, which drove down energy consumption for power supply and air conditioning; 
  • the implementation of virtual desktop infrastructure (VDI) has reduced the power consumption of each desktop from 200W to less than 5W. Rather than working on a desktop personal computer (PC), users work on virtual machines.  
  • regular replacement of computer hardware with more energy-efficient equipment; 
  • during the reconstruction of office space, human presence detectors are installed in meeting rooms, employee amenity areas and kitchens that turn off lights when no-one is in the room. In 2020, 5000 m2 of office space was rebuilt with human presence detectors in selected zones. 
Water and energy consumption is monitored on an ongoing basis. 
  • Based on the financial data, a ranking of energy recipient by its consumption is prepared. Branches with the highest energy consumption rates are controlled and recommendations for building administrator companies are implemented. Similarly, in the event of high utility bills it is verified whether the consumption is correct and whether or not any devices or installations have broken down.  
Reduced working time of cleaning firms 
  • In the previous years, the companies worked from 8 p.m. to 4 a.m. in the morning and the lights had to be turned on during those hours, resulting in higher electricity consumption. In 2020, the companies work from 5 p.m. to 10 p.m. The lighting is turned off after 10 p.m. 
Design of services 
  • The processes in the mobile and Internet banking system are designed to take as little time as possible and involve the least amount of formalities. The agreements are signed with an SMS password signature, which saves paper and energy (by reducing the time of work with the computer or the phone). 
Optimization of water consumption (branches and the head office) 
  • In 2020, in 14 own buildings the Bank installed 173 modern tap aerators – special nozzles aerating the water stream increasing it optically. Tap aerators help save from 15% to 25% of water.  
  • In the Bank’s Head Office, some of the tap aerators were installed already in 2018, which generated savings of water of approximately 15% 
  • The quantities of flushing water was reduced by limiting the quantities of water in the tank to the minimum.   
  • The head offices have installed hot and cold water fountains, which encourage office employees to use them instead of buying bottled water. This reduces production of waste, including plastic.  

 

Application of the Virtual Desktop Infrastructure technology 
  • In 2020, the Bank completed the project of replacing workstations in bank outlets, from physical PCs to the VDI (Virtual Desktop Infrastructure) technology, achieving the target level of 3500 workstations.  
  • Among other things, VDI reduces considerably the consumption of electricity (for example, a “traditional” workstation consumes about 200W on average, while a “thin client” in the Bank’s model uses less than 5W. 
  •  Despite the additional consumption of energy in the Data Center, the capacity of a single physical server to support hundreds of virtual machines allows the VDI technology to reduce the Bank’s carbon footprint significantly. 

[GRI 302-4] Energy savings in Bank’s branches 2020 2019** 2018 2017 2016
Branches with LED-lit advertising panels  456
(100%) 
357
(100%) 
361
(100%) 
355
(100%) 
369
(100%) 
Branches with panels turned off at midnight  409
(90%) 
310
(86%)* 
305
(84%)* 
307
(86%)* 
312
(84%)* 
Energy-efficient light sources in branches   117 
(26%)  
113
(32%) 
100
(28%) 
80
(22%) 
72
(19%) 

 

* the remaining panels are lit up for the entire opening time of the shopping malls in which they are located
** without Euro Bank data

Action

Description

Hybrid vehicles  Nearly all the cars in the Bank’s fleet have been replaced with hybrid models. That signifies a considerable reduction in exhaust emissions into the environment. The fleet will emit more than 500 tons of CO2 less per annum (a 20.6% reduction in emissions) in comparison with the level prior to replacing the cars. Reduction of fuel consumption in 2020 by about 20% vs. 2019 (which contributed to a significant reduction of exhaust gas emissions); in addition to the replacement of traditional motor cars with hybrid motors in 2017-2020, this was caused mainly by the pandemic and remote working arrangements.  
Reduced number of business trips  In order to minimize business travel, limits are used for respective types of transportation and remote communication methods are used, such as: e-learning courses, teleconferencing and videoconferencing. The lower number of business trips in 2020 was mainly due to the COVID-19 pandemic. Business trips were carried out only in Q1 and partially during the summer when the government restrictions were lifted.  

 

Millennium Towarzystwo Funduszy Inwestycyjnych also monitors and reduces its adverse impact on the natural environment; among others by significantly reducing the consumption of plastic water bottles. It also encourages its employees to care for their surroundings. The company has also put in place rational material management, monitoring of water, energy and fuel consumption and implementation of environmentally-friendly solutions.  

Since the Company uses the Bank Millennium Group procurement system, it is subject to the same rules governing the management of consumable resources entailing continuous monitoring and lowering the consumption of materials through: analyzing the fulfillment of budgets to purchase office supplies, verifying requests for ordered products, restricting purchases to the level of actual needs and real consumption and ensuring that unnecessary equipment is reused.  

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