Environmental impact management
[GRI 103-1], [GRI 103-2], [GRI 103-3] Bank Millennium is guided by the United Nations Sustainable Development Goals, among which climate protection is one of the key issues. Environmental and climate protection initiatives have for years been part of Bank Millennium Group’s business strategy and are in line with the approach of the parent company – Bank Millennium bcp.
The Bank is of the opinion that environmental and climate protection issues concern many areas of the Bank’s operations and are an integral part of its business. Due to the importance of these issues, the development of ESG strategies and policies is under the direct supervision of the Chairman of the Management Board.
Bearing in mind the growing significance of sustainable development for the Bank Millennium Group’s business, including climate-related issues, in December 2021 the Bank established within its structures the Sustainable Development Committee and the Sustainable Development Department. These units are described in „Management Approach to Sustainable Development”.
Due to the nature of its activities, the risk of the Bank’s direct impact on the environment has been assessed as immaterial. However, in order to fully understand the wide range of interrelationships between the Bank’s activities and environmental risks, the Bank has chosen to incorporate various environmental aspects into the assessment of other risks directly related to the Bank’s operations as separate risk factors. Currently, the environmental aspect is taken into account in the annual assessment of the materiality of individual risks in the context of credit risk, market risk, operational risk and reputation risk. The risk management process in the Bank and the Bank Millennium Group is uniform to a high degree and it may be treated as a common system applicable to the overall Group.