ESG is an integral part of the new strategy for 2022-2024

[GRI 102-15] ESG (Environmental, Social, Governance) issues have for years been an integral part of the Bank Millennium Group’s business strategy. In connection with the pandemic, 2021 has been treated as a transition year before the new strategy comes into effect; however, the topics of sustainable development and corporate social responsibility invariably continue to be part of the Group’s business strategy. The approach to managing sustainable development is discussed extensively in the Corporate Governance section of this report.

ESG is also included in the Group’s new strategy for 2022-2024, which was announced in December 2021. Of crucial significance for Bank Millennium is not only to attain the goals set in the strategy, but also to take the proper path towards them, based on our commitment to society and the natural environment, in line with stringent standards of quality and ethics in the sales process and the services offered. The new strategy entitled “Bank Millennium. Inspired by people.” highlights the importance attached to the inspirations provided by employees, clients and the community in which the Bank functions.

In the new strategy, the Bank has for the first time defined its goals pertaining to climate protection. The Bank is well positioned to reduce its own greenhouse gas emissions by 50% in 2022 compared to 2020. Climate neutrality in terms of the Bank’s own emissions is planned to be achieved by 2027 while full climate neutrality is in plans by 2050. The Bank Millennium Group will also actively support clients as they decarbonise and provide PLN 2 billion of financing for sustainable and transformational projects for the clients of the Bank and of the Bank’s Group over the next 3 years. For years the Bank has been involved in environmental activities, also to finance energy savings investments. These topics are extensively discussed in the “Environment” section of this report.

As an institution inspired by people and their needs, in its new strategy the Bank aims to be an employer of first choice, ensure that services are available to all its clients and listen to and support the local community. As a responsible member of society the Bank will continue to offer the Bank Millennium Foundation’s financial education program targeting children and their parents, cultivating its more than thirty-year-old tradition of being a patron of culture and supporting the social initiatives pursued by the Bank Millennium Group’s employees to benefit their local environment.

In management processes the Bank incessantly cares about observing high ethical standards as well as safety and transparency of relations with its clients. The Bank constantly develops its risk management processes while giving consideration to the rapidly evolving challenges regarding climate risks. In the Risk Management Strategy for 2022-2024 approved by the Bank’s Supervisory Board, the Risk Appetite framework was defined for selected ESG risk factors: level of own emissions, diversity and social initiatives.

The aspiration of the Bank Millennium Group is to continue to achieve ambitious targets in the coming years

Customer centric service focused on superb quality, further simplification of client-facing processes and communication, best-in-class digital and omnichannel experience
Banking without barriers and accessible for people with disabilities

Improved EVP (Employee Value Proposition), including the development of a hybrid work model, talent management based on career paths that create new opportunities and top quality working conditions
Self-development and training tailored to employees’ needs
Regular employee opinion surveys

Financial education for children and their parents
Cultural initiatives as a 30+ year tradition
Supporting employees’ social initiatives for the benefit of their local community