The Bank Millennium Group minimizes its environmental footprint through rational management of materials and waste, monitoring the use of water, energy and fuels, introducing environmentally-friendly solutions in its operations, by encouraging employees, customers and business partners to participate in environmental campaigns.
Environmental policy of the Bank Millennium Group
A few years ago, the Bank decided to significantly reduce its exposures to the coal industry. As a result, today the portfolio of exposures to coal and hydrocarbon mining is close to zero and industries directly related to mining is insignificant (at the end of Q4 2021, the Bank Millennium Group’s exposure was 0.96% of the corporate portfolio and 0.27% of the Group’s entire portfolio).
In 2019, the Bank decided to formalize its approach to climate issues and developed the “Environmental Policy of the Bank Millennium Group„, which defines 3 main areas of its environmental activity:
The Group supports the implementation of environmental goals by introducing profiled products to its offer. Bank Millennium Group does not finance new coal mines and coal-fired power generation projects, except for new projects related to reduction of pollution. New financing in the energy sector is only possible if it serves the commitment to carbon-free energy sources and the energy transition to carbon-free energy sources.
At the same time, the Group has for many years supported the financing of environmentally friendly and energy-saving investments, including those related to the replacement of coal-fired power generation with low-emission energy sources and modern energy infrastructure, concerning renewable energy sources, reducing pollutant emissions and supporting energy efficiency, especially in energy-intensive and high-emission industries, in the field of low-emission motor vehicles.
The Bank’s clients are obligated not to use funds from the loan in any way linked to the activities mentioned on the EBRD Environmental Exclusion List. They are also obliged to obtain and maintain all the necessary permits relating to protection of the environment in connection with their business activity and conduct their business activity in compliance with any environmental regulations any relevant laws, standards and other regulatory requirements at the nation-wide and local level with respect to protecting the environment, health and safety as well as rules of social conduct.
More about environmentally-friendly products and responsible financing
Employees, clients and business partners receive communication increasing environmental awareness. Where justified, environmental clauses are used in agreements with product suppliers.