Bank Pekao's strategy "… the only way is up" for 2025-2027 is based on three pillars:
Environment
Bank Pekao Strategy 2025 – 2027
In these pillars, we address strategic adaptation to identified market trends that we want and need to use in our daily activities.
ESG aspirations included in the new Strategy:
Our Value Chain and double materiality analysis - Identified material topics
In 2025, our bank published, for the first time, a sustainability statement (hereinafter: Report), based on the provisions of the CSRD Directive implemented into the Polish legal framework. One of the key stages in the preparation process for reporting was the identification of elements of the Group’s value chain, taking into account the level of complexity of internal processes, regulatory and technological requirements, a board range of services and diverse customer segments.
Dual relevance analysis - Identified material topics
In preparation for this Report, we conducted our first double-materiality analysis to identify the stakeholder groups that are important to Bank Pekao S.A. and the entire Capital Group, as well as the significant impacts, risks, and opportunities related to sustainable development. The results of the study form the basis for ongoing actions and the definition of Bank Pekao S.A.'s strategic goals for the future.
The analysis was conducted in accordance with the requirements of CSRD and the uniform European Sustainability Reporting Standards (ESRS) and took into account two perspectives: the materiality of the impact and the financial materiality that the Capital Group has on sustainable development issues and how a given issue will affect our financial results in the future.
As a result of the double materiality analysis, we identified 26 issues, based on the ESRS standards and 4 additional topics (not covered by the ESRS), which the Pekao Group has a significant impact on (materiality of impact) or which significantly affect the Group’s operations (financial materiality).
Based on the results obtained, we do not identify any material risks to the Bank’s business model, strategy or value chain. We also do not expect the related financial effects in the current reporting year or the materialization of risks that could result in a material adjustment of the carrying amounts of assets and liabilities in the next year. With regard to medium and long periods, we also do not see any indications indicating the possibility of events materializing. As part of conducted analysis, we did not assess the resilience of the strategy and business model in the context of climate change. The analysis of climate risks conducted does not indicate threats to resilience.
A detailed list of impacts, risks, and opportunities is presented in on line ESG Report.
Key regulations and internal policies related to sustainable development
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Credit Risk Policy
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Credit Risk Policy 2022 defines the strategy and risk appetite for the Bank's and Pekao Group's lending activities as part of prudent risk management. The content of the Policy is based on the Bank's experience, good risk management practices, regulatory requirements and the projected macroeconomic scenario. The Credit Risk Policy reflects the assumptions of the Bank's ESG Strategy, taking into account the following:
- increasing the bank's involvement in financing green projects,
- limiting the bank's involvement in high-carbon activities,
- the bank's support for the transformation of Poland's energy sector.
The Credit Risk Policy is approved annually by the Bank's Supervisory Board.
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Policy on optimization of energy consumption at Bank Polska Kasa Opieki S.A.
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The policy sets forth principles and rules regarding standards and guidelines for optimizing the Bank's energy consumption in terms of environmental protection based on a commitment to properly monitor and prevent, as far as possible, any negative environmental effects of its operations. The principles outlined in the Policy are guidelines for each employee to influence awareness of the environmental issue by optimizing energy consumption. They should be applied with reasonable flexibility, taking into account the specific situations of each job.
Currently, the Policy adopted by the Resolution of the Bank's Management Board of 5 December 2019 is in force. The full version of the Policy is internal information and has not been released to the public.
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Risk culture principles at Bank Polska Kasa Opieki Spółka Akcyjna
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The Principles define norms, attitudes and behaviors of the Bank relating to its risk awareness, risk-taking and risk management as well as control mechanisms shaping risk decisions within the risk appetite adopted by the Bank.
The principles of the risk culture in particular relate to:- Development of desirable attitudes in this area by presenting relevant examples,
- Responsibility of employees related to their function in the context of promoting key values and compliance with the risk appetite adopted by the Bank,
- Incentive schemes of not only financial nature,
- Way of communication,
- Training employees to take account of employees' risk-taking and management responsibilities.
The Principles are an integral element of the risk management process at the Bank.
The Principles were adopted by a resolution of the Bank's Supervisory Board of 13 December 2021. The full version of the Principles is internal information and has not been released to the public.
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Information Security Policy
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The Bank's goal in terms of information security is to ensure an adequate level of information security, in particular, customer data and customer transactions processed in information systems, as well as to provide access to Information to appropriate authorized parties. The policy applies to the Bank's information systems, processing information in both traditional and electronic form, owned or merely administered by the Bank.
Currently, the Policy adopted by the Resolution of the Bank's Management Board 23 February 2023 is in force. The full version of the Policy is internal information and has not been released to the public.
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Green and sustainable financing
As a financial institution, our most important initiatives to support sustainable development, particularly climate change mitigation and adaptation, include allocating significant funds to finance Poland's energy transformation and adapting our product offerings to the changing demand for financial products, either directly linked to investment goals or through sustainability-linked financing frameworks. To this end, we introduce appropriate solutions for corporate clients, enterprises, and retail customers.
The method of operation related to the offered green products or those supporting sustainable finance depends on the type of product offered:
- in the case of individual customers and consumer loans, the offer is regulated by the Act of 20 May 2016, on Energy Efficiency, which introduces a national final energy savings target of 5,580 thousand toe to be achieved by the end of 2030, which is to be implemented from 1 January 2021 to 31 December 2030. The target set for 2030 will be implemented, among others, through a system of energy efficiency certificates,
- for enterprises we use the European Funds for Modern Economy Program operating under the Act of 14 March 2003 on Bank Gospodarstwa Krajowego,
- financing for corporate clients is regulated, among others, by the Sustainable Finance Framework, which was prepared in accordance with applicable international standards published by ICMA and LMA.
The Framework defines the eligibility of investments financed by proceeds from EMTN bonds issued by the Bank. The document outlines the process for project selection, proceeds management, allocation of funds, and impact reporting. The classification criteria for eligible climate change mitigation projects are based on selected technical criteria from the EU Taxonomy (in line with Annex 1 to Commission Delegated Regulation (EU) 2021/2139 of 4 June 2021). The Framework aligns with leading international market best practices, including: Green Bond Principles (June 2021, updated in June 2022);Social Bond Principles (June 2023);
- Sustainability Bond Guidelines (June 2021), published by the International Capital Market Association;
- Green Loan Principles (February 2023);
- Social Loan Principles (February 2023), published by the Loan Market Association on 17 October 2023.
Our sustainable finance activities include green and social projects and support for our clients' ESG bond issuances. We consistently strive to significantly reduce the financing of high-emission projects in our loan portfolio.
Own operations
In 2024, we maintained targeted initiatives in line with the strategic assumptions of introducing measures in our locations that limit the negative impact on climate change and support climate change adaptation processes.
Among the most important are:
- gradual replacement of older lighting with energy-efficient LED lighting,
- energy consumption optimization (reducing so-called contractual power),
- replacement of UPS units with new ones with higher maximum efficiency,
- elimination of unnecessary emergency power connections,
- installation of energy-efficient air conditioning systems,
- analyses aimed at installing reactive power compensation devices (and consequently eliminating unnecessary energy costs),
- switching electronic devices to "standby" mode in the evenings,
- installation of water pressure limiters or aerators, and replacement of household appliances with new, energy-efficient ones.
Carbon footprint calculation
To calculate greenhouse gas emissions under Scopes 1 and 2 we applied the methodology outlined in the GHG Protocol Corporate Standard. Due to the nature of our business activities, we do not fall under the European Union Emissions Trading System. The scope of the calculation covered Pekao Group.
Pekao Group makes use of guarantees of origin for electricity from renewable sources and engages in Power Purchase Agreements (PPA). The electricity procured under these agreements accounts for 29% of the Group’s total electricity consumption.
More abour greenhouse gas emissions by scope 1, 2 and 3 in the Pekao Group you can find in ESG Report.