Climate – key risks and new opportunities

[GRI 102-15] Key risks in this area associated with managing the Group’s environmental and climate impacts through its own operations, banking products and services offered, including project finance, and managing climate, transformation and physical risks to the Group. [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 project financing rules.

Bank Millennium has also introduced provisions in the lending rules and regulations for Corporate Banking clients, concerning compliance of all clients with environmental protection regulations and respect for work rules. As a result, all projects financed by the Bank and all loan products were also subject to these requirements.

[GRI 102-15] The Bank sees new climate-related opportunities in various sectors of economy, in the development of new financial products and services. In addition, analyses of client feedback and market research indicate that Polish society is increasingly aware of environmental and climate challenges, which may in the long term bring changes in the behaviour and expectations of retail and corporate clients towards products and services, also in the banking sector.