This document is a translation from the original Polish version. In case of any discrepancies between the Polish and English versions, the Polish
version shall prevail.
ESG Report
of Bank Millennium
and
the Bank Millennium
Group for 2023
Table of Contents
LETTER FROM THE CHAIRMAN OF THE MANAGEMENT BOARD ............................................. 5
1. BANK MILLENNIUM AND THE BANK MILLENNIUM GROUP ............................................. 7
1.1. PROFILE OF THE ORGANIZATION .................................................................... 7
1.1.1. SCALE OF OPERATIONS ............................................................................ 9
1.1.2. SHAREHOLDERS .................................................................................... 10
1.1.3. ECONOMIC PERFORMANCE ....................................................................... 11
1.2. MISSION AND VALUES ................................................................................ 12
1.3. BUSINESS MODEL AND THE VALUE CREATION MODEL ........................................... 13
1.4. ESG IS AN INTEGRAL PART OF THE STRATEGY FOR2022-2024 ................................. 19
1.5. APPROACH TO SUSTAINABLE DEVELOPMENT IN THE BANK MILLENNIUM GROUP ............ 20
1.6. DISCLOSURES OF CLIMATE-RELATED RISKS AND OPPORTUNITIES ACCORDING TO TCFD
GUIDELINES ...................................................................................................... 25
1.7. KEY AWARDS AND ACHIEVEMENTS IN 2023 ....................................................... 38
1.8. DEFINING THE CONTENT OF THE REPORT – DIALOGUE WITH STAKEHOLDERS ............... 42
2. ENVIRONMENT .............................................................................................. 48
2.1. ENVIRONMENTAL IMPACT MANAGEMENT .......................................................... 48
2.1.1. CLIMATE ISSUES IN THE BANK MILLENNIUM GROUP'S STRATEGY ............................ 48
2.1.2. ENVIRONMENTAL POLICY OF THE BANK MILLENNIUM GROUP ............................... 49
2.1.3. BIODIVERSITY ...................................................................................... 50
2.2. REDUCTION OF THE ENVIRONMENTAL IMPACT OF THE BANK’S OPERATIONS ................ 51
2.2.1. REDUCTION OF RESOURCE CONSUMPTION ..................................................... 51
2.2.2. GREENHOUSE GAS EMISSIONS .................................................................... 78
2.2.3. ENVIRONMENTALLY-FRIENDLY PRODUCTS AND RESPONSIBLE FINANCING ................. 90
2.4. FULFILLING THE REPORTING REQUIREMENTS .................................................... 93
2.5. ENVIRONMENTAL EDUCATION ...................................................................... 93
3. SOCIETY ...................................................................................................... 98
3.1. INNOVATIVE SERVICES ............................................................................... 98
3.1.1. OFFER DESIGNED TO MEET CLIENTS’ NEEDS ................................................. 103
3.1.2. FINANCIAL INCLUSION .......................................................................... 104
3.1.3. SUPPORTING CLIENTS IN RUNNING A BUSINESS ............................................. 108
3.1.4. TOP QUALITY CUSTOMER SERVICE ............................................................ 109
3.1.5. CUSTOMER SERVICE STANDARDS .............................................................. 110
3.1.6. RECOGNIZING CLIENT EXPECTATIONS ........................................................ 111
3.1.7. COMPLAINTS MANAGEMENT .................................................................... 112
3.1.8. CYBERSECURITY ................................................................................. 114
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
3.1.9. INITIATIVES TO ENHANCE CLIENTS’ FINANCIAL AWARENESS – FINANCIAL LITERACY ...... 116
3.2. RESPONSIBLE ADVERTISING AND SALES ......................................................... 120
3.2.1. RELIABLE MARKETING COMMUNICATION ..................................................... 120
3.2.2. TRANSPARENT INFORMATION ABOUT PRODUCTS AND SERVICES .......................... 121
3.2.3. ETHICAL STANDARDS IN CLIENT SERVICE ..................................................... 124
3.2.4. SETTLEMENTS AND OTHER SOLUTIONS FOR FOREIGN CURRENCY MORTGAGE LOAN
BORROWERS ................................................................................................ 126
3.3. HEADCOUNT STRUCTURE ......................................................................... 129
3.4. WORKING CONDITIONS ............................................................................ 134
3.4.1. HR POLICY ........................................................................................ 134
3.4.2. COMPENSATION POLICIES ...................................................................... 135
3.4.3. SIGNIFICANT RISKS RELATED TO THE EMPLOYEE AREA ..................................... 138
3.4.4. SUPPORTING DIVERSITY AND COUNTERACTING DISCRIMINATION ......................... 139
3.4.5. FREEDOM OF ASSOCIATION..................................................................... 143
3.4.6. EMPLOYEE APPRAISAL .......................................................................... 144
3.4.7. RECRUITMENT AND PROFESSIONAL DEVELOPMENT ......................................... 146
3.4.8. SOCIAL BENEFITS ................................................................................ 153
3.4.9. FRIENDLY WORKPLACE ......................................................................... 154
3.4.10. APPOINTMENT, ELECTION AND ASSESSMENT OF GOVERNING BODIES .................... 155
3.5. EMPLOYEE HEALTH AND SAFETY ................................................................. 157
3.5.1. MEDICAL CARE ................................................................................... 157
3.5.2. OHS STANDARDS ................................................................................. 157
3.6. SOCIAL ENVIRONMENT ............................................................................. 159
3.7. COMMUNICATION WITH STAKEHOLDERS ........................................................ 159
3.8. SOCIALLY BENEFICIAL ACTIVITIES ................................................................ 162
3.8.1. EDUCATION PROGRAMS OF BANK MILLENNIUM FOUNDATION ............................. 163
3.8.2. CHARITABLE CAMPAIGNS AND EMPLOYEE VOLUNTEERISM ................................. 164
3.8.3. PATRONAGE OF CULTURE ...................................................................... 164
3.8.4. SUPPORTING EDUCATION – COOPERATION WITH FINANCIAL INSTITUTIONS ............. 165
3.8.5. SUPPORTING DIVERSITY ........................................................................ 167
4. GOVERNANCE .............................................................................................. 169
4.1. APPLICATION OF CORPORATE GOVERNANCE PRINCIPLES ..................................... 169
4.2. GOVERNANCE STRUCTURE ........................................................................ 171
4.3. MANAGEMENT APPROACH TO SUSTAINABLE DEVELOPMENT .................................. 176
4.4. RISK MANAGEMENT ................................................................................ 180
4.5. ETHICAL STANDARDS AND HUMAN RIGHTS ..................................................... 180
4.6. THE BANK IN THE MARKET ENVIRONMENT ...................................................... 183
4.6.1. RELATIONS WITH THE CAPITAL MARKET ..................................................... 183
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
4.6.2. COOPERATION WITH TRADE ORGANIZATIONS ............................................... 184
4.6.3. BUSINESS PARTNERS ............................................................................ 184
4.7. TAX POLICY ......................................................................................... 187
4.8. SAFETY OF CLIENT FUNDS ........................................................................ 188
4.8.1. SAFETY OF INFORMATION AND TRANSACTIONS ............................................. 188
4.8.2. PROTECTION OF PERSONAL DATA ............................................................. 190
4.8.3. FRAUD PREVENTION............................................................................. 192
4.8.4. ANTI-MONEY LAUNDERING AND COUNTERING TERRORISM FINANCING (AML/CTF) ..... 193
4.8.5. MECHANISMS FOR REQUESTING ADVICE AND REPORTING POTENTIAL IRREGULARITIES 195
4.8.6. PREVENTING CONFLICTS OF INTERESTS ...................................................... 196
4.8.7. ANTI-CORRUPTION .............................................................................. 197
4.9. INTERNAL CONTROL SYSTEM ..................................................................... 199
4.9.1. COMPLIANCE ..................................................................................... 199
4.9.2. INTERNAL AUDIT ................................................................................. 200
5 EU TAXONOMY ............................................................................................. 202
6. ABOUT THE REPORT ..................................................................................... 232
6.1. APPROACH TO REPORTING ....................................................................... 232
6.2. ACCOUNTING ACT COMPLIANCE TABLE ......................................................... 234
6.3. GRI STANDARDS CONTENT INDEX ................................................................ 235
6.4. CONTACT DATA .................................................................................... 243
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
LETTER FROM THE CHAIRMAN OF THE MANAGEMENT BOARD
[GRI 2-22]
Ladies and Gentlemen,
It is once again my pleasure to be able to convey to you the ESG Report published by Bank Millennium
SA and the Bank Millennium Group.
Every year we continue to delve more deeply into the various aspects of ESG. As we gain more
knowledge and experience in this area, we see that each one of the groups of topics forming an
integral part of ESG (environment, society and governance) is of extremely great significance in
running a sustainable business.
We actively pursue activities to foster sustainable development in the sundry aspects of our business
activities and in all of the many relationships with our stakeholders. Our business and ESG goals form
a coherent whole. One of the most important aspects of our efforts is the fact that we are engaged
in pursuing them together as the Bank Millennium Group. We act jointly with our stakeholders:
employees, clients, business partners and shareholders.
By acting together, we are able to implement our business and sustainable development goals
concurrently. By combining our efforts, we achieve more than success in business, which is widely
appreciated by our stakeholders, as evidenced by our victory in both categories of Newsweek’s
Friendly Bank ranking. By combining our forces, we are able to back values we consider to be
important. One example is our one-of-a-kind employee volunteerism program called Our People’23:
Save the Planet. In the course of this joint sporting effort more than 1.5 thousand employees reached
the goal of having Bank Millennium donate PLN 250 thousand to the Bank Millennium Foundation to
implement eco initiatives. Employees subsequently completed 26 projects involving eco volunteerism,
which was the second phase of this campaign in which they created green spaces and educated and
supported local environmentally-friendly undertakings. In 2023 Bank employees devoted more than
12 thousand hours to educational, sporting and environmentally-friendly social initiatives.
We understand that the key condition for the Bank to attain these goals and business success and for
our organization to achieve long-term development hinges on employee engagement and satisfaction.
We aspire to excellence in this field by turning an attentive ear to what they have to say. The outcome
of our employee engagement and satisfaction research conducted in 2023 indicates that the ratios of
satisfaction we achieved in this area is above the average seen in the banking sector and also for the
entire country. I consider this to be a reason to be proud and glad, but at the same time this factor
motivates us to show care for the welfare of our employees on a continuous basis. Our efforts in
employee-related issues have also garnered the attention of reputable third parties. In January 2024
we received the Top Employer award, and in 2023 we receive the title of being a Solid Employer for
the ninth year in a row.
We pursue our strategic ESG goals on an unwavering basis. In supporting sustainable development, we
start with ourselves as an organization. Once again, we have been successful not just in reaching our
ambitious goals in terms of cutting emissions, but also in surpassing them. The scope 1 and scope 2
emissions in the Bank Millennium Group in 2023 are down 70% versus 2020.
Notice has once again been taken of our sustainable development efforts in the form of the CSR
Golden Leaf awarded by the Polityka weekly, the title of being a Climate Aware Company and the
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
title of being a European Climate Leader. We also received a distinction from UN Global Compact
Network Poland for our involvement in efforts to protect the climate and advance sustainable
development.
As we address dynamic economic and social change and ongoing changes to the climate and the needs
of our clients related to the business community adapting to these changes, we consistently work on
refining our green product offering so as to be able to support companies in running sustainable
businesses. We are aware of how important it is to continue expanding and improving our knowledge
as an organization and sharing experience with others. That is why we joined the United Nations
Global Compact in 2023 and signed the declaration on the 10 Principles of the UN Global Compact.
We believe that our membership in the world’s largest initiative to advocate for sustainable business
serves as a resounding confirmation of the values we espouse as an organization, our commitment
and readiness to continue expending effort to achieve sustainable development.
As ESG issues are strategically important, they will have a very prominent place in Bank Millennium’s
new business strategy for 2025-2027, which we will announce in 2024. We are facing a number of
challenges related to the transformation to a zero-emission economy: environmental, social and
governance challenges. The world is changing rapidly, frequently in unexpected ways, while the only
sure thing is constant change. We will meet these challenges TOGETHER. I am certain of that and that
is something we have successfully proven many times as an organization.
I encourage you to peruse our ESG Report.
Joao Bras Jorge
Chairman of the Management Board of Bank Millennium
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
1.1. PROFILE OF THE ORGANIZATION
[GRI 2-1] Bank Millennium S.A. (“Bank Millennium”, “Bank”) was established in 1989 as one of the first
commercial banks in Poland. It is currently one of the seven largest commercial banks in Poland in
terms of assets, directing its services to all market segments through a network of 612 branches
(including 374 own branches and 238 franchised branches), networks of individual relationship
managers, and electronic and mobile banking.
From the outset of its operations it has been a trendsetter in the Polish banking industry. For instance,
it was the first bank listed on the Warsaw Stock Exchange and the issuer of the first payment card on
the Polish market. The Bank meets the highest corporate governance standards, it pursues social
programs to support the development of culture and youth education.
[GRI 2-6] It offers services to individual clients (in the Retail, Prestige and Private Banking Segments),
micro businesses and small, medium and large enterprises in the Corporate Banking segment. By
blending the most sophisticated technologies and the best banking traditions Bank Millennium
successfully competes in all of the segments of the financial market. The Bank adds its international
practice in finance contributed by Banco Comercial Português (Millennium bcp) - one of the largest
commercial banks in Portugal and Bank Millennium’s strategic shareholder - to its many years of
familiarity with the Polish market. The acquisition of Euro Bank in 2019 was a landmark decision that
increased the magnitude of its operations and contributed to its growth.
1. BANK MILLENNIUM
AND THE BANK
MILLENNIUM GROUP
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Bank Millennium is a market leader in innovation defined as new technology solutions and process
improvements. Innovation in Bank Millennium is a part of its business strategy. Bank Millennium and
its subsidiaries constitute the Bank Millennium Group (“BM Group”, “Group”), one of the most
sophisticated and the most comprehensively growing financial groups in Poland.
Bank Millennium and its subsidiaries constitute the Bank Millennium Group – one of the most
sophisticated financial groups in Poland. In addition to the Bank, its most important subsidiaries are
Millennium Leasing (leasing activity), Millennium TFI (mutual funds) and Millennium Bank Hipoteczny
(raising long-term financing through the issuance of covered bonds). Since 2016 Millennium Goodie
Spółka z o.o. has been operating an innovative smart shopping platform based on sophisticated
technology in collaboration with the Bank. These companies’ offering complements the products and
services offered by the Bank. In March 2023, the Bank sold 80% of its shares in Millennium Financial
Services sp z o.o. to Towarzystwo Ubezpieczeń na Życie Europa S.A. and Towarzystwo Ubezpieczeń
Europa S.A. and became a 20% shareholder in the company. In connection with the sale, the Bank
entered into a series of agreements with the buyers regarding the insurance distribution model and
long-term cooperation in the bancassurance area.
The offering of those subsidiaries complements the services and products offered by the Bank. The
Bank Millennium Foundation is also part of the Group. For years it has been supporting financial
education and employee volunteerism projects.
[GRI 2-6] Millennium Bank Hipoteczny Spółka Akcyjna launched its operations on 14 June 2021. Its
primary goal is to secure long-term financing for the Group by issuing covered bonds whose underlying
instruments are the accounts receivable by virtue of the mortgage loans transferred by Bank
Millennium S.A.Covered bonds are one of the safest financial instruments in the world. Transferring
these accounts receivable and issuance of covered bonds makes it possible to finance mortgage loans
using long-term liabilities by successively reducing the mismatch between the maturities of assets
and liabilities.
[GRI 2-1] The Bank and its Subsidiaries operate in the Republic of Poland, which is treated as the area
of business activity of the Group, therefore all disclosures in the ESG Report refer to Poland. The
Group does not identify other locations that are important from the perspective of its business
activities. [GRI 2-1] The Bank's Head Office is located in Warsaw while some of its head office functions
are also performed in Gdańsk and Wrocław.
[GRI 2-1] Organizational chart of the Bank Millennium Group (as at 31 December 2023)
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
1.1.1. SCALE OF OPERATIONS
[GRI 2-6] The Bank operates throughout Poland and has no branches outside of its borders. Total assets
of the Group amount to PLN 125,5 billion. The Bank Millennium Group serves over 3.0 million active
retail clients, including 2.7 million of internet and mobile clients. At the end of 2023, the Bank had
612 branches (including 374 own branches and 238 outlets in the franchise model) and 506 ATMs.
Share in key market segments
Scale of the Bank Millennium Group's
business activity
2023
2022
2021
2020
2019
Number of active retail clients (thous.)
3,003
2,887
2, 694
2,633
2,571
Number of own and franchise branches
612
635
655
702
830
Number of ATMs
506
509
480
479
498
Number of employees
(persons)
6,872
6,987
7,079
7,645
8,615
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
1.1.2. SHAREHOLDERS
Bank Millennium is a joint stock company that has been listed on the Warsaw Stock Exchange since
1992. Presently, the Bank is a member of the WIG, WIG 30, mWIG 40, WIG Banks and the WIG-ESG
indices.
Bank Millennium’s strategic shareholder is Banco Comercial Português, the largest private bank in
Portugal, which holds a 50.1% stake in Bank Millennium. OFE Nationale-Nederlanden, PTE Allianz
Polska S.A., and also OFE PZU „Złota Jesień” are significant shareholders, each holding more than 5%
of the share capital.
Bank Millennium’s shareholder structure
11
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
1.1.3. ECONOMIC PERFORMANCE
The Bank Millennium Group achieves its economic goals striving to balance the needs of the key
Shareholders, in accordance with its growth strategy, taking into account the principles declared in
the Code of Ethics.
[GRI 201-1]
Selected economic
results
(PLN million)
Bank Millennium Group
Bank Millennium
2023
2022
2023
2022
Operating income
6,723
4,009
6,522
3,860
Operating expenses*
(1,993)
(2,093)
(1,921)
(2,020)
Cost/income ratio
29.6%
39.3%
29.4%
52.3%
Impairment provisions
and other cost of risk***
(352)
(460)
(311)
(418)
FX legal risk related
provisions
(3,065)
(2,017)
(3,065)
(2,017)
Banking tax
-
(169)
-
(169)
Corporate income tax
(CIT)
(737)
(284)
(715)
(265)
Net loans and
borrowings to clients
73,643
76,565
72,405
75,856
Client deposits
107,246
98,039
107,506
98,265
Common Equity Tier 1
capital (CET1=T1)
14.7%
11.3%
15.4%
11.4%
Total Capital Ratio
(TCR)
18.1%
14.4%
19.0%
14.5%
Reported net income
576
(1,015)
510
(1,030)
Adjusted net income
(excl. extraordinary
items)**
2,993
2,239
-
-
Reported Return on
Equity (ROE)
9.1%
(17.5%)
-
-
Adjusted Return on
Equity (ROE) (excl.
extraordinary items)**
21.7%
21.5%**
-
-
* without impairment charges for financial and non-financial assets
** adjusted net result and ROE - excluding extraordinary items relating to costs related to foreign
currency mortgage loans (costs of provisions for legal risk, costs of settlements and legal costs), costs
related to credit holidays and revenues from the sale of shares in Millennium Financial Services sp.
z o.o. to an external insurance partner. z o. o. in March 2023 with the associated effects, but with
a hypothetical banking tax in the second half-year of 2022 and in 2023
*** the item includes impairment losses on financial and non-financial assets, including loan
adjustments according to fair value, and the effect of loan modifications
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
1.2. MISSION AND VALUES
The Bank’s mission is to support its clients in the achievement of financial success now and in the
future. The Bank builds its competitive advantage on values forming the basis for running its business.
The Bank Millennium Group’s Values
We build relationships based on trust
We can rely on one another, and in the course of developing and pursuing ambitious goals, we keep
ethics and our associates in mind. Responsibility, respect, support and understanding cement our
community and help us strengthen our leadership position among the best banks in Poland. We build
trust in the Bank by serving as its ambassadors.
Quality and innovation are our passion
We set the standards of perfection and create trends in banking. Openness, enthusiasm, searching for
the best solutions and breaking barriers are embedded in our thinking, actions, products, services and
processes as well as in our relations with the outside world and within the organization.
We develop employees and we promote cooperation
In our organizational culture, goals and successes are achieved through mutual inspiration, exchange
of competence and experience. We discover and reward people who through their actions motivate
others to be their very best.
We always aim higher
When others achieve the peak of their capabilities, we want more. We develop and increase the
employees’ and the teams’ competences through training and certification programs. We carefully
observe our surroundings, we perfect and evolve, and we actively respond to the challenges of the
future.
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
1.3. BUSINESS MODEL AND THE VALUE CREATION MODEL
Business model
Bank Millennium operates according to a business model centered on six pillars:
▪ Top quality and extended offering for individual clients – we are continuously
strengthening the range of financial services offered to Customers, aiming also to
constantly offer the best-in-class Customer Experience in all the channels, what makes us
one of the fastest growing banks in loyal individual customers
▪ Bank of the 1st choice for new micro-business clients – taking advantage of the well-
established retail sales and service model, we are building high innovative and efficient
model for micro businesses
▪ Strategic partner supporting corporate clients development - we are developing corporate
banking segment leveraging on long-term partnerships providing to our clients personalized
and digitalized services, as well as professional expertise to address challenges of the
future, i.e. green transformation
▪ Services supported by innovative solutions with top notch User Experience in digital
channels (mobile-first approach) – we are among digital banking leaders, with one of the
highest levels of mobile banking application penetration, setting trends in innovative
financial and non-financial (Value Added Services) solutions and taking care on the best
possible User Experience, hiper-personalization and cybersecurity
▪ Sustainable organization on the climate neutrality path –we keep our engagement for
environment and society, now even scaled by dedicated strategy with defined ESG goals
▪ Great place to work for our people and for top talents – cornerstone of the business model
and competitive advantage are our people and organizational culture, what is the reason
behind continues effort to make us top employer, not only in the banking sector
The firm’s values form the foundation of our business model: building relations based on trust, a
passion for quality and innovation, employee development and promoting collaboration and the ever
constant ambition to aim higher.
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Value creation model
The Bank Millennium Group’s capital poises it to grow its business as it simultaneously creates value
for its Stakeholders.
Capital in the Bank Millennium Group...
FINANCIAL
CAPITAL
Liabilities
Equity
Assets
PLN 118.6 billion total liabilities
PLN 6.9 billion own funds
PLN 125.5 billion total assets
HUMAN
CAPITAL
6 872 - employees in the Group
Friendly workplace, focus on employee
development, attention to diversity
45,8 - average number of training hours
per Group employee per year
M#leaders - innovational training programme for
managers and leaders of the Bank
IMPAKT Employee Reward Programme where employees
reward theirs work colleagues
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
ORGANIZATIONAL
CAPITAL
Culture of rapidly responding to change
(agility), sophisticated infrastructure and
IT systems, digitization and optimization
of processes making it possible to
develop innovative products and offer
high quality services, organization’s cost
effectiveness
Focus on growth and innovation, with full
understanding of client needs
29.6% cost/income ratio of the Group
Reduction of resource consumption, consistent
implementation of energy-efficient solutions
INTELLECTUAL CAPITAL
Business Strategy for years 2022-2024 and ESG Strategy
Investments in modern technological
solutions and innovations, the bulk of IT
development is in-house, internal start-up
goodie, internal UX Design time
Partnerships with organisations – cooperation with
UNGC within Climate Positive Programme, cooperation
with WWF Poland
Strategic partnerships with universities – Szkoła Główna
Handlowa, Uniwersytet SWPS, Akademia Leona
Koźmińskiego
Extensive internal training program
The Millenet internet banking system and the mobile
application have been designed with users in mind and
jointly with them in the spirit of Human-Centred Design
SOCIAL
CAPITAL
93% retail clients satisfied with the Bank's services
Quality of relations with the
environment, Bank reputation,
transaction safety, enhancing the
society’s financial awareness.
Financial education programs of the Bank Millennium
Foundation and employee volunteerism
PLN 2.2 million provided by the Bank Millennium
Group for donations and sponsorships in 2023
Digital security education activities for clients
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
… It supports business development within strategic pillars:
... and create value for stakeholders:
CLIENTS
Inclusive banking
(financial literacy) for all
– no physical,
infrastructural and digital
obstacles
▪ Permanent development of internet and
mobile banking
▪ 70% of the branches are accessible to disabled
persons
▪ 100% of the ATMs are accessible to disabled
persons
▪ Facilities for Ukrainian-speaking clients on the
Bank’s website and in its banking app
▪ Golden CSR Leaf of the Polityka weekly - an
award for companies with the highest
corporate social responsibility standards
Non-banking digital
functionalities, e.g. e-
administration
▪ Over 1.4 million clients with access to e-
administration – up over 24 % from 2022
▪ Mobile application as a hub for managing daily
affairs, not just finances
High quality of service
▪ 50 – NPS for retail clients
▪ Bank Millennium was the winner of this year's
edition of the "Newsweek's Friendly Bank"
ranking, winning in both ranking categories -
"Bank for Kowalski" and "Remote Banking"
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
EMPLOYEES
Employee turnover ratio
▪ 3% – employee turnover ratio
Education and
development
▪ Millennium Campus - a program to develop
knowledge and skills with the objective of
supporting the growth of innovation across the
organization. The offer to participate in this
program is addressed to all of the Bank’s
employees
Work satisfaction
▪ In 2023, Bank Millennium conducted an
employee satisfaction survey. The
participation rate was 51%. Among the
respondents, 69% were satisfied with their
work. This is more than the Polish benchmark
(39%) and banking benchmark (62%)
Respect for diversity
▪ The Bank was awarded the title of “European
Diversity Leader 2023” in a ranking compiled
by the Financial Times and Statista
SUPPLIERS
Ethical cooperation
▪ 76% of all invoices paid within a range up to
30 days
Responsibility in the
supply chain
▪ 100% of newly-executed contracts have a
clause obligating suppliers to apply the
principles of the Bank Millennium Group’s
Code of Ethics
▪ Implementation of Sustainability Guidelines
for Suppliers
INVESTORS
Excellent transparency
▪ High standards of communication and access
to information
Business value
▪ 77% y/y Bank Millennium’s share price
increase
Return for stakeholders
▪ Positive net result and solid credit risk
management. Reported return on equity (ROE)
of 9.1%
Capital and MREL
▪ Significantly improved CET and TCR to 14.7%
and 18.1% respectively and met final MREL
requirements
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
SOCIETY
Ecovolunteering
▪ In 2023, an employee eco-volunteer program
called Our People'23: Save the Planet was
implemented, focused primarily on protecting
our planet, addressed to all employees of the
bank and the Group - a total of 125 employees
took part in the program
Financial education
▪ Since 2016, the Bank Millennium Foundation
has been running its own financial education
program for kindergarten children, called the
“Financial ABCs.” In 2023, as part of the tenth
and eleventh editions, the Foundation carried
out over 400 workshops in 119 kindergartens
throughout Poland and reached nearly 10,000
preschoolers.
▪ This year’s program was implemented under
the honorary patronage of the Ministry of
Finance
Promotion of culture
▪ Bank Millennium has been a patron of the
Millennium Docs Against Gravity documentary
film festival for 18 years.
▪ In May 2023, the 20th anniversary edition of
the Millennium Docs Against Gravity festival
took place, once again in a hybrid formula,
with an audience of 144,000 people, for the
third time in a hybrid formula
▪ In 2023, Bank Millennium became a partner of
the Inside Seaside festival, a new event on the
Polish music scene, with a good, varied music
program and accompanying events, for music
fans from all over Poland
ENVIRONMENT
Minimizing the
environmental impact
▪ Bank Millennium is the only company from
Poland recognized in the Europe's Climate
Leaders 2023 list. It is a list of 500 companies
from 33 European countries. It includes
companies that in 2016-2021 achieved, among
others: the greatest reduction in greenhouse
gas emissions in relation to revenues and
undertake activities in the field of
transparency of reporting of activities related
to emission reduction
▪ Bank Millennium Group consistently
implements its greenhouse gas emission
reduction goals
▪ Consistent reduction of resource consumption
and emission intensity of occupied buildings.
In September 2023, a modernized building in
Gdańsk at Al. Grunwaldzka 19/23 received the
LEED GOLD certificate
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1.4. ESG IS AN INTEGRAL PART OF THE STRATEGY FOR2022-2024
[GRI 3-3 ,OWN DISCLOSURE 10] ESG (Environmental, Social, Governance) issues have for years been an
integral part of the Bank Millennium Group’s business strategy.
The ESG area is included in the Group’s Strategy for 2022-2024. 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
“Inspired by People” highlights the importance attached to the inspirations provided by employees,
clients and the community in which the Bank functions.
In 2022, the Bank adopted and announced the “ESG Strategy of the Bank Millennium Group for 2022-
2024”, which builds on and specifies in greater details the environmental, social and governance goals
presented in the Strategy for 2022-2024 “Millennium 2024: Inspired by People”.
Our sustainability activities have been planned in three areas, which are the pillars of our ESG
Strategy:
▪ Environmental Protection
▪ Corporate Social Responsibility
▪ Corporate Governance
In the “Environmental Protection” pillar, we have set strategic goals in the following areas:
▪ Striving for climate neutrality
▪ Reduction of resource consumption
▪ Product offering supporting sustainability
▪ Responsible lending policy
▪ Partnership with organizations
▪ Educational activities
In the Strategy “Inspired by people” (and also in the ESG Strategy), the Bank for the first time defined
its climate goals, including a reduction of its own greenhouse gas emissions by 50% in 2022 compared
to 2020, achievement of climate neutrality in terms of its own emissions (by 2027) and full climate
neutrality (by 2050). Its strategic objectives also include active support for decarbonization efforts
of the Bank’s clients and granting PLN 2 billion of financing for sustainable and transformational
projects for the clients of the Bank and the Bank’s Group over the years 2022-2024. For years the
Bank has been involved in environmental activities, also to finance energy savings investments. These
topics are discussed in detail in the “Environment” section of this report.
In the “Corporate Social Responsibility” pillar, we have set strategic goals in the following areas:
▪ Employees development and support
▪ Promotion of equality and diversity
▪ Supporting clients in growing their business and finance
▪ Banking without barriers
▪ Education and safety
▪ Charitable activity and support for culture
As an institution inspired by people and their needs, the Bank adopted the goal and 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 continues to offer the Bank
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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.The
implementation of tasks in this area is described in the “Society” section of this report.
In the “Corporate Governance” pillar, we have set strategic goals in the following areas:
▪ Sustainable organization
▪ Corporate governance and compliance policy
▪ Reporting and disclosures
▪ Climate risk management
▪ Sustainable supply chain policies
▪ Transparent communication
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. These issues are discussed in more detail in the part "Governance" and in chapter
"1.6.Disclosures regarding climate risks and opportunities according to TCFD guidelines " of this report
The “Inspired by People” Strategy for 2022-24 is available at the following address:
https://www.bankmillennium.pl/en/about-the-bank/investor-relations
The ESG Strategy for 2022-2024 is available at the Bank’s website:
https://www.bankmillennium.pl/documents/10184/84831/ESG_Strategy_2022-2024.pdf
The progress of the ESG strategic initiatives is monitored regularly by the Sustainability Committee.
This process is described in Section 4.3 “Management Approach to Sustainable Development”.
1.5. APPROACH TO SUSTAINABLE DEVELOPMENT IN THE BANK
MILLENNIUM GROUP
[GRI 2-12]The Bank’s Management Board is responsible for effective management of the sustainable
development area in the Bank in respect to environmental, social and corporate governance issues,
which includes the responsibility for the development, approval and updating of the organization's
goals, values, mission, strategies, policies and tasks related to sustainable development.
Bearing in mind the growing significance of sustainable development for the Bank Millennium Group’s
business, in 2021 the Bank established within its structures the Sustainability Committee and the
Sustainability Office, which was then, in accordance with the resolution of the Management Board
adopted in December 2023, transformed into the Sustainability Department.
Detailed information on the organization of the ESG management process is provided in Section 4.3.
“Management Approach to Sustainable Development”.
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Sustainability principles
[GRI 2-23] Bank Millennium has defined the basic principles related to sustainable development at the
level of the entire Bank Millennium Group. These principles were defined in the “Bank Millennium
S.A. Sustainability Policy” (approved by the Bank’s Management Board) with the following documents
published on the Bank’s website (https://www.bankmillennium.pl/en/about-the-bank/esg#zasady-
esg) constituting its integral part:
▪ Sustainable Development Principles
▪ Anti-Corruption Principles
▪ Principles of Social Impact
▪ Human Rights Principles
▪ Diversity Principles
▪ Corporate Volunteerism Principles
▪ Responsible Financing Principles
Besides the following document were published on the Bank’s website
(https://www.bankmillennium.pl/en/about-the-bank/esg#zasady-esg):
▪ Suppliers Sustainability Guidelines (approved at the level of the Bank’s Management Board
member)
▪ Climate Policy (approved by the Bank’s Management Board)
Sustainability principles adopted by the Bank Millennium Group, which integrate the environmental,
social and governance dimensions, include:
▪ adapting the decision-making process, in all areas of the Bank Millennium Group, to the
implementation of the United Nations Sustainable Development Goals ("UN Sustainable
Development Goals"), as well as generally applicable laws and national and international
standards in the field of sustainable development;
▪ taking into account the UN Sustainable Development Goals in the development and offering
of financial products;
▪ transparency of disclosed information regarding the implementation of activities in the area
of sustainable development by the Bank Millennium Group;
▪ building awareness of Employees, Clients and other stakeholders of the Group in the field of
sustainable development;
▪ adhering to the highest standards in the conducted business, including the Principles of
Corporate Governance for Supervised Institutions and Best Practices for WSE Listed
Companies, as well as striving to constantly ensure full compliance with generally applicable
laws and business standards;
▪ building partnership relations and constant involvement in cooperation with communities –
both external and internal – in the search for opportunities to create social value, by
supporting initiatives related to culture, education and financial knowledge, as well as
activities within the framework of employee volunteering.
Based on the UN Sustainable Development Goals, as well as on the obligations arising from the
Diversity Charter signed by the Bank, as well as internal rules and good practices, we have made the
following commitments:
▪ Integrating environmental and social risks into the customer risk assessment process and
taking into account ESG risk factors in sectoral policies with respect to the corporate Clients;
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▪ Defining the list of sectors and activities not financed by the Bank Millennium Group - the
Group identifies sectors of economic activity or projects whose financing is inconsistent with
the Group's commitment to protect the environment, promote sustainable development,
combat climate change and preserve biodiversity. For this reason, the Group has identified
business sectors excluded from financing or conditional financing sectors (financing of
activities or projects in these sectors is possible under additional conditions);
▪ Financing of environmentally friendly and energy-efficient projects, including projects
related to the replacement of coal-fired energy with low-carbon energy sources;
▪ Carrying out activities aimed at reducing the carbon footprint;
▪ Respect for human rights - Bank Millennium Group takes into account and promotes the
principles of human rights through the application of ethical business practices to various
stakeholders, in particular employees, clients, shareholders, suppliers, local communities.
Such practices are clearly defined in the relevant internal regulations of the Group;
▪ Sustainable development competency generation: we offer training and initiatives for
employees to develop their sustainability competencies;
▪ Promoting a culture of responsible consumption: The Bank Millennium Group has adopted, as
part of the Sustainability Guidelines for Suppliers, a set of requirements for suppliers covering
sustainability issues;
▪ Influencing society: promoting a culture of social responsibility, developing activities for and
with different stakeholder groups that support, directly or indirectly, social development.
The above commitments in the field of sustainability policy apply to all activities and business
relations of Bank Millennium.
We attach special importance to human rights issues, since the observance of human rights is
incorporated into the main goals and commitments of the Bank Millennium Group. As the Bank
Millennium Group, we are committed to respecting human rights, ensuring compliance with the
provisions of Polish and international law (including the United Nations Universal Declaration of
Human Rights) and defining internal practices and procedures in this area.
We have adopted the following principles related to respecting and promoting human rights:
▪ Prohibition of forced labour, child labour and human trafficking – we reject all forms of forced
labour related to human trafficking and child labour, while complying with the provisions of
Polish and international law.
▪ Prohibition of discrimination and violation of workers' rights - we promote a culture of
tolerance and reject all forms of discrimination based on origin, gender, sexual orientation,
family situation, nationality, ethnicity, religion, membership of social groups and political
beliefs or any kind of individual physical characteristics, health conditions or disability. We
provide a healthy and safe working environment, free from discrimination, mobbing and
harassment and all forms of violence.
▪ Freedom of association - we respect the freedom of association and observe the principles
enabling the association of employees, as well as create conditions for action for organisations
associating employees, in accordance with applicable law.
▪ Remuneration - we promote fair and equitable remuneration of our employees, based on their
qualifications, experience, scope of duties and functions. We comply with the provisions of
national and international law, in particular the Labour Code, as well as internal regulations
in this respect.
▪ Relations with employees and shareholders - we promote human rights in relations with
employees and shareholders, through the implementation and application of adequate
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internal regulations, including The Code of Ethics of the Bank Millennium Group, which define
the principles shaping healthy, transparent relations with these stakeholder groups.
▪ Client relations - we promote sustainable financing as part of the corporate culture of the
Bank Millennium Group. In this regard, we take human rights into account in our relations
with our clients by providing financial products and services aimed at promoting social
inclusion (preventing exclusion) and non-discrimination and tailored to the individual needs
of our clients. In this context, we adopt policies and procedures that ensure an adequate
approach to our clients, respecting their right to privacy and ensuring the confidentiality and
security of their data.
▪ We treat our clients with respect, not allowing any discrimination based on origin, gender,
sexual orientation, family situation, nationality, ethnicity, religion, social status and political
beliefs or any individual physical characteristics, health conditions or disability.
▪ Relations with suppliers and partners - we promote respect for human rights in our suppliers
and partners. We have developed "Sustainability Guidelines for Bank Millennium Group
Suppliers", in which we indicate how we understand compliance with human rights within the
supply chain. We expect all Bank Millennium Group suppliers and partners to respect human
rights, rejecting forced labour and child labour, ensuring fair and equitable remuneration and
offering equal opportunities and a working environment free from discrimination and all forms
of violence.
▪ Social relations - we support the promotion of human rights in the communities around us,
ensuring that our activities have a positive impact on the environment.
The Bank Millennium Group promotes the principle of social responsibility providing for the groups
that are in need or those at risk of exclusion. The Bank Millennium Group acts with respect for human
dignity and respects the right to equal treatment, regardless of age, gender, ethnic and national
origin, religion, family status, sexual orientation, health status, financial situation, religious and
ideological beliefs, membership in trade unions or other reasons that may expose to discriminatory
behaviour.
In particular, Bank Millennium Group’s policies point to the need to protect and support: individuals
at risk of exclusion, people with disabilities, employees who are parents, people in difficult life
circumstances; Bank Millennium Group entities offer social support to such individuals and the
eligibility criterion is the financial and personal situation, including the state of health.
Information about the documents describing the principles of sustainable development adopted in the
Bank Millennium Group was provided to the employees of the Group in January 2023 in a form of an
article published on the corporate intranet "Świat Millennium". In December 2023, the Bank published
communication aimed at reminding about the ESG Principles at the Bank and encouraging people to
become familiar with them. The employees of franchise partners were also informed in the same way.
In the case of other business partners, the Bank did not prepare a separate communication, but the
documents described above were made available to them in the ESG site on the Bank's website. We
assume that this way, in the future, the Bank's business partners will also be able to become
acquainted with the applicable policies in the area of sustainable development and/or their changes.
Partnership with United Nations Global Compact
[GRI 2-28] In July 2023 Bank Millennium has joined the United Nations Global Compact (“UNGC”) as a
direct participant. Joining the UNGC means a commitment to adhere to and implement the Ten
Principles of the UN Global Compact covering four key areas: human rights, labour standards,
environment protection and anti-corruption.The Bank’s accession to the UNGC is another major step
towards the full implementation of the UN Sustainable Development Goals by the Bank.
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In September 2023, the President of the Management Board of Bank Millennium Joao Bras Jorge joined
the Program Council of the UN Global Compact Network Poland ("UN GCNP"). The Council develops
key directions for the UN GCNP with the goal of providing effective support for businesses to achieving
the UN Sustainable Development Goals. The UN GCNP Program Council includes high-level
professionals and managers representing UN Global Compact member companies active in a minimum
one program in the following areas: human rights, environmental protection and anti-corruption.
Implementation of obligations set forth in policies
[GRI 2-24]Responsibility for the implementation of sustainability policy commitments is allocated in
accordance with the allocation of powers within the Bank’s Management Board and the responsibilities
of individual organizational units and their managers (described in the Bank's Organizational Bylaws
and the organizational bylaws of individual units).
The Bank is of the opinion that environmental, social and governance issues concern many areas of
the Bank's operations and are an integral part of its business. Because of the importance of these
matters, the Sustainable Development Department, which is responsible for supervising and
coordinating the implementation of sustainable development principles in the Bank and the Bank's
Group, reports directly to the Bank’s Management Board Chairman, while the Sustainability
Committee is comprised of all members of the Bank’s Management Board.
The commitments arising out of the sustainable development policies are integrated with strategic
goals and then the goals themselves are implemented operationally through:
• adoption of sustainable development goals both in the Group’s Strategy for 2022-2024 as well
as in the more detailed ESG strategy for 2022-2024,
• incorporation of environmental, social and governance issues into operational processes and
procedures,
• implementation of a process for monitoring the implementation of strategic initiatives in the
ESG area through the work of the Sustainability Committee.
Sustainability commitments have a significant impact on the development of the Group’s business
relationships.
The Group operates in accordance with the adopted Environmental Policy, observing the exemptions
in the financing of certain activities described in that document and adhering to its commitment to
support the financing of environmental and energy efficient projects. Details of this policy are
provided in chapter 2.1.2. “Environmental Policy of the Bank Millennium Group”.
Offering sustainable financial products and a responsible lending policy are important aspects of the
Bank Millennium Group’s sustainability efforts.
The Bank Millennium Group has incorporated environmental and social risks in the client assessment,
lending and project financing processes, taking into account not only the risks related to the business
sectors in which the clients operate, but also their approach to environmental, social and corporate
governance issues.
In this context, the Bank Millennium Group recognizes that there are certain sectors of activity or
projects, which do not correspond to the Group’s commitment to protect the environment, promote
sustainable development, combat climate change, preserve biodiversity and minimize social risks and
accordingly sets both exemptions and restrictions, which should be considered when making decisions
to provide financing.
We also see our great responsibility to offer products and services that prevent financial exclusion
and take social principles into account. The Bank Millennium Group provides products and services
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that promote prevention of social exclusion, which includes supporting those parts of the society that
have fewer opportunities to use digital banking solutions, making access to financial products more
widespread and supporting entrepreneurship.
Relations with the Bank Millennium Group’s suppliers are governed by the Sustainability Guidelines
for Suppliers. Additionally, in its supplier selection process the Group uses the Sustainability Supplier
Questionnaire.
[GRI 2-23]The implementation of the commitments made in the Bank Millennium S.A. Sustainability
Policy is verified in many different ways: by the Bank’s internal control system, the system of
reporting to the Management Board and to the committees operating in the Bank, including the
Sustainability Committee, whose role is to make key decisions on sustainability in the Bank Millennium
Group with regard to environmental, social and governance factors.
1.6. DISCLOSURES OF CLIMATE-RELATED RISKS AND OPPORTUNITIES
ACCORDING TO TCFD GUIDELINES
Introduction
The Task Force on Climate-related Financial Disclosures (TCFD) is an initiative created by the Financial
Stability Board (FSB) to develop consistent and transparent recommendations for reporting financial
information related to climate change. TCFD's goal is to give stakeholders access to information that
will allow them to make more informed decisions that take into account climate risk and its impact
on financial stability.
TCFD's disclosures consist of four pillars: Governance, Strategy, Risk Management, and Metrics &
Targets.
The Bank presents below its disclosures on climate risks and opportunities prepared in accordance
with TCFD guidelines.
Pillar I of the TCFD - Governance
[1.a. Describe the board’s oversight of climate-related risks and opportunities]
The Bank's Management Board adopted the document "ESG - governance and control arrangements",
which sets out the basic principles related to the management and control of the ESG area (including
the management and control of ESG risks) at the level of the entire Bank Millennium Group. The main
objective of these principles is to provide the Bank Millennium Group with a robust framework for the
management and control of the ESG area (including the management and control of ESG risks) in full
compliance with legal and regulatory requirements, applicable internal regulations and best market
practices. By taking an integrated view of managing the impact of ESG factors on financial risks, the
ESG risk management and control framework adopted contributes to supporting the Bank's sustainable
growth and value creation over the long term.
The Bank's Management Board is responsible for setting, approving and overseeing the effective
implementation of the Bank Millennium Group ESG Strategy, as well as the Risk Strategy, which
includes ESG risk as a component of other risks specific to the Bank's operations. The Bank's
Management Board also approves the Bank's sustainability and other ESG-related corporate policies
and principles, the indicators and quantitative limits within the risk appetite statement, and ESG
reporting, including the Bank’s Group's annual ESG report.
The Bank's Management Board is also responsible for ensuring the required organizational structure
and resources for managing the ESG area (including ESG risk management).
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The Supervisory Board oversees the Bank's Management Board's execution of strategic ESG activities,
as well as the implementation of the Risk Strategy, which includes ESG risk as a component of other
risks specific to the Bank's operations.
Within the Management Board, the sustainability area is supervised by the President of the
Management Board, while ESG risk management is supervised by the Bank's Management Board
Member responsible for Risk.
[1.b Describe management’s role in assessing and managing climate-related risks and
opportunities]
The Sustainability Committee plays an important role in the management and control of the ESG
area, while the Risk Committee plays an important role in the ESG risk management process. Both
committees include all members of the Bank's Management Board as well as key managers of the
Bank.
The Sustainability Committee makes key decisions on the implementation of business activities that
affect Bank Millennium's climate risk and opportunity profile. In particular, the Committee adopts
operational plans related to the implementation of the ESG Strategy, as well as monitors and
evaluates the implementation of planned activities in terms of their completeness, quality, meeting
the required deadlines and the planned budget.
The Risk Committee is responsible for risk control at Bank Millennium, including reviewing principles,
policies, rules and practices relating to managing risks - including ESG risk (including climate risk),
making decisions on key elements of credit policy - including those pertaining to ESG risk. The Risk
Committee periodically reports to the Bank's Management Board on key issues related to the impact
of risk - including ESG risk - on the Bank's overall risk profile.
The Bank has established a Sustainability Department, which is responsible for overseeing and
coordinating the implementation of sustainable development principles at Bank Millennium. The
Department also supports the Sustainability Committee in carrying out its tasks, develops operational
plans for implementing the Sustainable Development Strategy in consultation with other Bank units,
and reports internally and externally on sustainability issues. The Sustainable Development
Department is supervised directly by the President of the Bank’s Management Board.
The Risk Department (DMR) is responsible for integrating ESG risks (including climate risk) into the
Bank's risk management system. Key tasks of the DMR include consideration of ESG risk within the risk
appetite, analysis of the materiality of the impact of ESG risk on the Bank's risk profile, development
of ESG risk assessment methodologies within the framework of existing risk assessment methodologies
and processes, and monitoring of the impact of ESG risk on the area of capital adequacy.
In addition, sustainability activities in specific areas of authority are the responsibility of other units
of the Bank and the Bank’s Group in accordance with their areas of responsibility, forming an integral
part of the business, with distinct areas of activity assigned to employees holding senior management
positions (those reporting directly to the President of the Management Board or members of the
Management Board of either the Bank or the pertinent Group companies).
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Pillar II of TCFD – Strategy
[2.a. Describe the climate-related risks and opportunities the organization has identified over the
short, medium, and long term]
Types of climate risk identified by Bank Millennium
According to the classification recommended by the TCFD, among others, the Bank divides climate
risk into physical risk and transition risk.
Physical risk refers to the financial impact of a changing climate, including more frequent extreme
weather events and gradual climate change, as well as environmental degradation such as air, water
and soil pollution, water scarcity, biodiversity loss and deforestation. Physical risks are therefore
classified as "acute" when they result from extreme events such as droughts, floods and storms, and
"chronic" when they result from progressive changes such as rising temperatures, rising sea levels,
water scarcity, biodiversity loss and resource scarcity. This can directly result in, for example,
damage to property or reduced productivity, or indirectly lead to subsequent events such as disruption
of supply chains.
The range of physical risk factors recognized and analyzed by the Bank is consistent with the
range of factors defined by the EU Taxonomy (via Annex A of the Delegated Regulations defining
the technical criteria for recognizing activities as environmentally sustainable) and includes:
Acute physical risk factors
Chronic physical risk factors
− Heat waves/extreme cold weather
− Droughts
− Floods / waterlogging
− Heavy precipitation (rain / hail / snow) or
thunderstorms
− Cyclones / hurricanes / tornadoes
− Landslides
− Spontaneous fires
− Changes in average temperatures (air / water)
− Variability of temperature amplitudes
− Melting permafrost
− Changes in wind circulation patterns
− Changes in rainfall patterns and types
− Water acidification
− Rising ocean / sea levels
− Soil erosion / degradation
The Bank's financial activities are conducted predominantly in Poland. Consequently, the Bank, from
the broad catalog of physical risk factors set forth in the table above, has selected physical risk factors
relevant to the geographic scope of its financial activities based on publications of the
Intergovernmental Panel on Climate Change (IPCC). Factors relevant to the region in which the Bank
conducts its financial activities include:
• floods / waterlogging,
• droughts / water shortages,
• heat waves.
Transition risk refers to the financial loss that may result, directly or indirectly, from the process of
adapting to a low-carbon and more environmentally sustainable economy. This can be caused, for
example, by the relatively sudden adoption of climate and environmental policies, technological
advances or changes in market sentiment and preferences.
The range of transition risk factors recognized and analyzed by the Bank is consistent with the range
of factors defined by the TCFD and includes:
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Transition risk
Political factors of transition risk:
Introducing regulations on:
− reducing greenhouse gas emissions, mandatory purchase of greenhouse gas emission allowances,
− carbon footprint tax mechanisms, banning the production of certain goods (e.g., combustion cars).
Technological factors of transition risk:
− Technological changes related to energy efficiency, low-carbon transportation and increasing use of non-fossil fuels
or other technologies,
− Existing business models of companies may rely on technologies that may be replaced or on the use of energy
sources that may become more expensive as a result of policy actions (whether through higher efficiency standards
or the introduction of carbon taxes).
Behavioral factors of transition risk:
− Investor preferences and changing expectations with regard to climate change, which require climate risk issues to
be taken into account,
− Consumer preferences are shifting toward more climate-friendly consumption. For this reason, retail clients may
expect their savings or investments to go toward climate-friendly causes. Increased awareness and clear demand for
climate-friendly financial products and investments provide a potential incentive for companies and banks to adjust
their business strategies, regardless of potential regulatory or supervisory approaches.
Types of climate-related opportunities identified by Bank Millennium
Climate-related changes bring business opportunities, especially in the context of developing a
portfolio of financial assets supporting economy green transformation and sustainable development.
In its strategy, the Bank’s Group aims to increase the share of financing for industries and projects
that support the transition to a low-carbon economy.
The Bank’s Group sees key climate-related business opportunities in the development of financing of:
• renewable energy sources (RES),
• energy-efficient real estate and projects that increase energy efficiency in construction,
• new resource-efficient industrial machinery,
• solutions that support a circular economy (CE), and
• low-emission transport.
[2.b. Describe the impact of climate-related risks and opportunities on the organization’s
businesses, strategy, and financial planning]
The Bank identifies, assesses, controls and reports on climate risks and opportunities through the
prism of the impact of climate risks and opportunities on the Bank's risk profile expressed in terms of
so-called traditional banking risks (i.e., in particular, credit, operational, reputational, liquidity,
market, strategic and economic risks).
The most significant risk in the Bank's operations is credit risk. Actions on the Bank's credit portfolio
are therefore key to achieving the Bank's strategic goals of financing the transition to a low-carbon
and climate-resilient economy, and thus, the credit portfolio is important to the Bank's identification
of climate-related opportunities.
The Bank also identifies and evaluates the impact of climate risks and opportunities on its other
banking risks, but in this area the Bank does not identify specific business opportunities for itself at
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this time (with the exception of reputational and strategic risks), but rather focuses on appropriately
determining the materiality of climate risks over different time horizons.
In the area of reputational and strategic risk, the Bank identifies the following key climate-related
opportunities:
• proper management of the business opportunity associated with the expected increased demand
for green project financing,
• environmentally responsible management of a portfolio of financial assets, striving to increase
the share of environmentally sustainable assets,
• responsibly management of the environmental impact of its own operations, including through
measures to reduce its own greenhouse gas emissions or by implementing solutions that support
circular economy.
Impact of climate-related risk factors and opportunities on credit risk
Portfolio of financing provided to corporate customers
Climate risk
Channels of transmission to the Bank's
risk profile
Bank's approach to risk management
Key climate-related
opportunities
Physical risk
Potential impact of future increases in
the risk of floods, heat waves, droughts
on the company's income statement or
on the value of real estate collateral
The Bank takes this risk into account
by incorporating a industry policy in
its credit decisions that takes into
account transition risk, physical risk
and social risk. Physical risk was also
included in the conducted analysis of
the materiality of ESG risks.
The portfolio is geographically
diversified across Poland, with no
concentration in regions with higher
physical risk.
The Bank is taking further steps to
expand the data collected for
physical risk assessment.
Financing solutions that
support the securing of
borrowers’ operations against
the negative effects of
physical risk.
Transition
risk
Decrease in revenue / increase in costs
due to the need to comply with climate
policy
Decrease in revenue / increase in costs
due to the need to adapt to
technological changes supporting green
transition or due to behavioral changes
in the market
The Bank takes this risk into account
by incorporating a industry policy in
its credit decisions that takes into
account transition risk, physical risk
and social risk.
In addition, the Bank has a industry
exclusion policy for industries
deemed particularly harmful to the
environment or society.
Transition risk was also included in
the conducted analysis of the
materiality of ESG risks.
The Bank is taking further steps to
expand the data collected for
transition risk assessment.
Financing of "green" projects
/ facilities, supporting the
transition to low-carbon
activities (RES, energy-
efficient construction, low-
carbon transportation,
resource-efficient machinery,
CE projects).
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Portfolio of financing provided to small business segment customers
Climate risk
Channels of transmission to the Bank's
risk profile
Bank's approach to risk management
Key climate-related
opportunities
Physical risk
Potential impact of future increases in
the risk of floods, heat waves, droughts
on the businesses’ income statement or
on the value of real estate collateral
The portfolio is geographically
diversified across Poland, with no
concentration in regions with higher
physical risk.
-
Transition
risk
Risk factors include technological, legal
and political changes relating in
particular to electricity production and
supply
The Bank has implemented a industry
exclusion policy for industries
deemed particularly harmful to the
environment or society.
Financing of "green" projects
/ facilities, supporting the
transition to low-carbon
activities (RES, energy-
efficient construction, low-
carbon transportation,
resource-efficient machinery,
CE projects).
Portfolio of mortgage loans granted to consumers
Climate risk
Channels of transmission to the Bank's
risk profile
Bank's approach to risk management
Key climate-related
opportunities
Physical risk
The possible impact of a future increase
in flood risk on collateral values and
thus on credit losses.
The Bank incorporates a due diligence
analysis for areas at risk of flooding
(ongoing analysis) into its ongoing
lending processes.
-
Transition
risk
Potential impact of building energy
inefficiency on property prices and
rental/sales opportunities
The Bank monitors regulatory risks
associated with energy inefficient
properties on an ongoing basis.
Financing energy-efficient
real estate.
Portfolio of consumer loans (unsecured) to consumers
Climate risk
Channels of transmission to the Bank's
risk profile
Bank's approach to risk management
Key climate-related
opportunities
Physical risk
The potential impact of a future
increase in the risk of floods or heat
waves on consumers' ability to repay
unsecured loans.
The portfolio is diversified across
multiple locations throughout Poland.
-
Transition
risk
Potential impact of political or
technological changes on consumers'
ability to repay unsecured loans
The Bank does not identify the need
to implement specific mitigation
mechanisms at this time.
Development of product
offerings designed to finance
consumer RES, low-carbon
transportation, or energy
efficiency improvements to
real estate.
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Impact of climate risk factors on other banking risks
Type of
banking risk
Channels of transmission of climate risk to
the bank's risk profile
Risk management approach
Operational
risk
Potential damage to the Bank's own
infrastructure due to floods and waterlogging
- in long-term scenarios
Potential disruption of business continuity due
to impact of heat risk on critical IT
infrastructure
The Bank insures against physical damage to infrastructure.
The Bank has implemented and applies business continuity
management policies and processes and contingency plans to
ensure stability and resilience to operational incidents.
Outsourcing in the banking sector is strictly regulated by the
Banking Law, EBA Guidelines and supervisory expectations of
the PFSA, among others. The Bank has detailed internal
instructions on the process of selecting and approving external
entities. Risk analysis, in particular with regard to the stability
and business continuity of external entities, is the basis and
top priority of the process of selecting these entities, aimed
at mitigating any material risks that could disrupt the Bank's
daily operations.
Reputational
risk
Controversy over the financing of industries
that are perceived in the market as harmful to
the environment.
Errors or intentional deception in the Bank's
conduct, in particular with regard to customer
relations
The Bank has implemented the "Responsible Financing
Principles" which means excluding or limiting financing for
industries, activities and projects that do not meet the Bank's
commitments to protect the environment, promote
sustainable development and minimize social risks. It also
adheres to the current "Environmental Policy."
The Bank takes into account the legal aspects of the
agreements it signs, the risk of incorrect design of products
and services and the risk of optimum selection of products to
suit clients’ needs and abilities.
Reputational risk factors are also included in the Bank's
operational risk taxonomy and are managed accordingly in
accordance with overall escalation processes and triggers.
Market risk
(in the
trading book)
The potential impact of transition and physical
risk on the country risk of the issuing country
(the Bank has commercial exposure mainly
to Polish bonds) and thus on bond pricing (due
to the impact on the country's debt and market
perception).
The Bank's trading book consists mainly of government bonds -
primarily Polish.
The Bank may diversify its treasury bond portfolio with issues
from EU countries less exposed to transition risk than Poland,
provided it makes economic sense for the Bank to do so at the
time.
The Bank regularly conducts internal stress tests for market
risk. Based on the current state of the market, the scenarios
include extreme shocks, no less than potential climate shocks.
The Bank is closely monitoring market and supervisory
developments in this area.
Poland is actively participating in the EU's climate transition
policy, with strategic work on decarbonizing Poland's energy
mix underway, and Poland and Polish cities have developed
and implemented climate change adaptation strategies and
plans to make the economy more resilient to climate change
and potential physical hazards.
Liquidity risk
Climate factors can affect the value of
financial assets, which in turn can affect the
liquidity of those assets. Climate factors can
also affect the availability or stability of
financing.
The Bank regularly conducts its own internal liquidity stress
tests, covering several stress test scenarios.
The Bank does not plan to concentrate its deposit base in high-
carbon industries or in countries with higher
social/management risks.
Strategic risk
Current or future risks to earnings, capital
and liquidity resulting from changes in
strategy and adverse business decisions,
including strategic decisions that must be
made to comply with regulatory standards,
namely capital, liquidity or leverage ratios.
This includes climate-related risks, such as
transition risk and physical risk.
Carrying out projects supporting the Bank's strategic ESG goals
and concerning: the implementation of a process for
identifying sustainable assets and managing ESG risks.
Participation of the management boards of all Bank Millennium
Group companies and key managers in a training program on
green financing and ESG risks.
Ongoing monitoring of market and regulatory developments.
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Type of
banking risk
Channels of transmission of climate risk to
the bank's risk profile
Risk management approach
Economic risk
Potential impact of new climate policies and
associated legal and physical risks, such as
floods or droughts.
Carrying out projects supporting the Bank's strategic ESG goals
and concerning: the implementation of a process for
identifying sustainable assets and managing ESG risks.
Participation of the management boards of all Bank Millennium
Group companies and key managers in a training program on
green financing and ESG risks.
Ongoing monitoring of market and regulatory developments.
[2.c. Describe the resilience of the organisation’s strategy, taking into consideration different
climate-related scenarios, including a 2°C or lower scenario]
Bank Millennium attaches great importance to managing climate risks and opportunities, taking into
account the short-term, medium-term and long-term time horizons.
The Bank is taking a perspective of up to one year as a short-term period. During this period, the Bank
focuses on the sudden effects of physical risk by avoiding potential exposures (direct or indirect)
exposed to this type of risk. The Bank defines the medium-term perspective as a period of 2 to 5
years. The main risks identified by the Bank during this period are transition risks, generally related
to the indirect effects of the transition to a low-carbon economy (e.g., carbon taxation, energy costs,
technological changes, changes in commodity prices). A time horizon of more than 5 years is identified
as long-term. The main identified risk in this perspective is the alignment of the portfolio with the
transition targets (limiting global warming to 1.5ºC), entailing the need for appropriate Bank actions
to support portfolio transition.
In 2023, the Bank conducted a comprehensive analysis of the materiality of the impact of climate risk
on traditional banking risks, i.e. credit, operational, market, liquidity, strategic, reputational and
economic risks.
The conclusions of this analysis allow us to estimate the resilience of the Bank's business model to
climate change. In addition, the Bank plans to implement a methodology and process for conducting
climate stress tests, which will provide a complementary and more sophisticated quantitative
approach to assessing the resilience of the Bank's business model to climate change under preset
climate change scenarios and time horizons.
Providing financing to businesses and consumers in the form of credit, loans or leases is the
cornerstone of the Bank's business model. These activities are primarily financed through
deposits accepted by the Bank from its customers. Accordingly, the Bank recognizes that it is
critical to understanding the resilience of the Bank's business model to climate risk to determine
the materiality of the impact of climate risk on the Bank's credit and liquidity risk profile.
The resilience of the Bank's business model through the prism of analysis of the materiality of the
impact of climate risk on credit risk:
Portfolio of financing provided to companies (corporations and small business):
Analysis of resilience to transition risk:
As part of the materiality analysis, the Bank conducted a review of industries from the perspective of
emissions. This analysis showed that the Bank has low exposure to industries with medium-high
exposure to transition risk (approx. 5% of the Bank's total credit portfolio).
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. The Bank's activities in this area reflect the designated strategy to
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integrate climate risk into the Bank's risk management policies, as well as to promote innovation and
the transition to a low-carbon economy.
Analysis of resilience to physical risk:
The Bank does not have a concentration of exposures in industries typically characterized by higher
exposure to physical risks associated with climate change (such as agriculture).
In addition, based on its analysis of climate risk maps for Poland and materiality analysis, the Bank
concludes that it has a negligible volume of exposures in regions with elevated physical risk (about
1% of the Bank's total credit portfolio).
Portfolio of mortgage loans granted to consumers:
Analysis of resilience to transition risk:
Based on its estimates, the Bank currently does not identify any properties in its financing portfolio
that fall into the two lowest / worst energy efficiency classes.
The Bank monitors on an ongoing basis legislative changes regarding the introduction of criteria for
specific classes of energy efficiency in Poland and the development of the regulatory environment in
terms of possible restrictions on the possibility of selling/renting energy inefficient properties.
Analysis of resilience to physical risk:
The Bank's portfolio is dispersed and geographically diversified across Poland. The Bank has no
financial concentrations of real estate in areas with elevated physical risk. Geographic diversity
provides greater resilience to physical risks associated with climate change, such as flooding or
waterlogging. The climate risk management regulations implemented by the Bank are designed to
minimize the Bank's exposure to potential damage and loss, while enhancing operational and financial
stability.
Portfolio of (unsecured) consumer loans extended to consumers:
Analysis of resilience to transition risk:
The Bank does not identify in its portfolio a concentration of financing for consumers employed in
industries significantly exposed to transition risk.
Analysis of resilience to physical risk:
The Bank's portfolio is dispersed and geographically diversified across Poland, which translates into a
lack of concentration of financing for consumers living in regions with elevated physical risk.
The resilience of the Bank's business model through the prism of analysis of the materiality of the
impact of climate risk on liquidity risk:
Analysis of resilience to transition risk:
The Bank has implemented and applies limits on the concentration of deposits accepted from
individual businesses as part of its risk management strategy, thereby minimizing the potential risk
of over-reliance on funding from single, large depositors, which enhances the Bank's financial
stability.
As part of its analysis of the materiality of transition risk in liquidity risk, the Bank reviewed the
twenty largest corporate depositors - none of the companies are among the industries with high
emissions and thus greater exposure to transition risk.
Analysis of resilience to physical risk:
The dispersed geographic distribution of depositors across Poland (both businesses and consumers,
whose deposits make up the majority of the Bank's funding) avoids concentration in locations with
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elevated physical risk. The Bank does not currently identify a material risk of deterioration in the
Bank's liquidity due to physical risk.
Pillar III of TCFD – Risk Management
[3.a. Describe the organization’s processes for identifying and assessing climate-related risks]
The Bank's approach to identifying climate risk factors and determining the channels of transmission
of these risks to traditional banking risks is presented in Sections 2.a. and 2.b. of this disclosure note.
The key process of assessing the materiality of the impact of climate risk factors on the Bank's risk
profile is the process of assessing the materiality of the impact of ESG risk factors (including climate
risk factors) on traditional banking types. The Bank conducted such a materiality assessment in 2023
- the key conclusions of this analysis are presented in Sections 2.b. and 2.c. of this disclosure note.
The Bank will conduct such materiality analysis periodically, at an annual frequency.
In addition, the Bank continuously monitors the regulatory and supervisory environment regarding ESG
issues (including those related to climate-related risks and opportunities) and complies with relevant
regulations as well as supervisory expectations in a timely and adequate manner.
[3.b. Describe the organization's processes for managing climate-related risks]
Based on the results of the materiality analysis of the impact of climate risk on the Bank's risk profile,
taking into account expert judgment, the Bank determines the types of banking risks for which it is
reasonable to develop detailed methodological solutions for the identification, measurement, control
and reporting of climate risk.
Currently, the Bank considers the implementation of detailed solutions for the integration of ESG risks
(including climate risk) to be justified for credit risk. The Bank is also considering including climate
risk scenarios in its internal stress tests of market and liquidity risk.
The Bank's approach to managing climate risk within each of its significant banking risks is described
in Section 2.b.
The following is a summary of the key climate risk management tools and processes within the credit
risk framework, for which the Bank identifies a legitimate need to have detailed solutions to manage
climate risk.
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Climate risk assessment tool / process
Key assumptions of the climate risk management process
Financing provided to corporations
Policy of industries excluded from financing
The policy is not to provide new financing to customers (commercial
undertakings) in industries deemed environmentally or socially
harmful, including industries that have a negative impact on
achieving the goals of the transition to a low-carbon economy.
Credit risk assessment of industries by PKD
classification
The Bank periodically assesses the credit risk of industries according
to the PKD classification, this assessment takes into account
transition risk, physical risk and social risk based on recognized
external data sources.
The Bank takes industry risk into account when making credit
decisions.
Implementation of the "Principles for identifying and
monitoring sustainable financing at Bank Millennium
S.A."
According to the adopted regulation, the Bank will identify whether
the financing granted is environmentally sustainable (both according
to the Bank's internal definition and according to the EU Taxonomy).
The Bank views environmentally sustainable financing as a climate-
related opportunity and as a factor in mitigating climate risks
identified by the Bank.
Mortgage financing provided to consumers
Identification of environmentally sustainable real
estate
The Bank has begun to obtain information on the energy performance
of financed properties and is assessing whether the property's recorded
level of primary energy demand meets the criteria for materiality in
the environmental goal of "climate change mitigation" according to the
EU Taxonomy. The Bank views financing energy-efficient properties as
a climate-related opportunity and as a factor in mitigating climate
risks identified by the Bank.
Identification of properties with elevated physical
risk
The Bank includes information about the characteristics of the land
on which the property is built in the expert appraisal reports and in
the valuation of the collateral.
In addition, the Bank - based on publicly available physical risk maps
for Poland - identifies properties located in areas with an elevated
risk of flooding or waterlogging over a time horizon aligned with the
maturity of the loan, under the conservative RCP 8.5 scenario.
[3.c. Describe how processes for identifying, assessing, and managing climate-related risks are
integrated into the organization’s overall risk management]
The Bank's ESG risk management system (including climate risk) is an integral part of the overall risk
management system and is implemented in accordance with applicable regulations, supervisory
expectations, market standards and internal regulations.
The conclusions of the analysis of the materiality of the impact of climate risk on traditional banking
risks are accepted by the Bank's Management Board and are an integral part of the Risk Strategy,
approved by the Supervisory Board.
The Bank has implemented the ESG (including climate) risk management tools detailed above in
Subsection 3.b.
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Pillar IV of TCFD – Metrics and Targets
[4.a. Disclose the metrics used by the organization to assess climate-related risks and
opportunities in line with its strategy and risk management process]
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, as well as the degree of implementation of the ESG Strategy.
In addition, information and metrics on the degree of implementation of strategic ESG initiatives are
periodically reported to the Sustainable Development Committee.
The Bank will develop an approach to measuring and monitoring its own exposure to climate-related
risks and opportunities.
Metrics used assess climate-related risks
In 2024, the Bank plans to implement measures of its financial asset portfolio's exposure to climate
risk. The key measures planned for implementation will determine the shares of exposures exposed
to physical risk and transition risk in the Bank's material portfolios.
Metrics used assess climate-related opportunities
In this ESG report, the Bank published the Green Asset Ratio (GAR) for 2023 for the first time, in
accordance with the EU Taxonomy regulations. GAR is a measure of the share of environmentally
sustainable assets according to the technical criteria of the EU Taxonomy in the Bank’s Group's
consolidated total assets eligible for inclusion in the GAR denominator. The Bank views the GAR as an
indicator of the opportunities associated with financing exposures that make a significant contribution
to the environmental goals identified in the EU Taxonomy.
Detailed disclosures on the EU Taxonomy are presented by the Bank in this Report in Section 2.3. "EU
Taxonomy.”
The Bank will develop metrics related to the monitoring of green financing volumes, on the basis of
adopted internal criteria based on best market practices and the EU Taxonomy, as described in the
Principles for Identifying and Monitoring Sustainable Financing at Bank Millennium S.A.
[4.b Disclose Scope 1, Scope 2, and, if appropriate, Scope 3 greenhouse gas (GHG) emissions, and
the related risks]
The Bank calculates greenhouse gas (GHG) emissions based on the international GHG Protocol
standard, which is a recognized system that allows for the measurement of CO2 emissions and other
gases that affect the greenhouse effect.
The detailed data and methodology for calculating GHG emissions that the Group discloses can be
found in the report on in Section 2.2.2. "Greenhouse Gas Emissions."
[4.c. Describe the targets used by the organization to manage climate-related risks and
opportunities and performance against targets]
In line with its 2022-24 strategy, the Bank has set out to actively support customers in their
decarbonization efforts, and to provide 2 billion zlotys of financing to the Bank’s and the Bank’s
Group’s customers for sustainable and transformational projects between 2022 and 2024.
The Bank is taking proactive measures that target building a portfolio of assets that finance
environmentally sustainable activities, while adhering to the Environmental Policy and Responsible
Financing Principles. Also to this end, the Bank carried out a comprehensive project in 2023 to build
and implement a process for classifying green assets - based on the Bank's internal business criteria
based on best market practices and based on the EU Taxonomy.
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As part of its 2022-2024 strategy, the Bank has set specific reduction targets in the area of greenhouse
gas emissions. These commitments include:
• 50% reduction in direct emissions (Scope 1) in 2022 compared to the 2020 base, responding to
increasing regulatory requirements to reduce the carbon footprint.
• Achievement of a state of climate neutrality in direct emissions by 2027
• Attainment of full climate neutrality (Scope 1, 2 and 3) by 2050
These goals are consistently implemented, as described in chapter 2.2.2 "Greenhouse gas emissions".
The set targets are part of the Bank’s Group's integrated approach to sustainability. Details of
activities in this regard are documented and reported as part of the annual ESG Report.
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1.7. KEY AWARDS AND ACHIEVEMENTS IN 2023
The CSR Golden Leaf
Bank Millennium’s consistent activities for sustainability and
measurable successes in limiting the consumption of resources
have once again been appreciated with the CSR Golden Leaf
from Polityka weekly. The CSR Golden Leaf is awarded to
companies, for which implementation of guidelines contained
in the ISO 26000 standard is a key component of strategic
actions in business and in relations with stakeholders,
employees included. The companies rely in their Activities on
local and global best management practice and follow
international standards.
Millennium Group for the fourth time distinguished in the
Bloomberg Gender-Equality index
Banco Comercial Portugues entered the international
Bloomberg Gender-Equality index for the fourth time in a row.
In 2023, it achieved its best result so far. It is higher than the
results reported by 73% of companies included in the index.
The high position of Banco Comercial Portugues was due to
data from its three companies: Bank Millennium, Millennium
bcp, Millennium Bim.
Bank Millennium is the best bank in Poland according to
Global Finance Magazine
Bank Millennium was again awarded by the prestigious Global
Finance. The magazine honoured Bank Millennium with the
title of The Best Bank in Poland for 2023. The winners of this
year's jubilee Global Finance awards are those banks that have
carefully listened to the needs of their clients in difficult
markets and achieved good results, laying the foundations for
future success. The winning organizations managed their
assets and liabilities prudently, taking into account scenarios
of rapidly changing interest rates.
Bank Millennium second in the Best Employers Poland 2023
ranking in the category "Banks and financial services”
Bank Millennium again came second on the ranking list of best
employers in banking and financial services and 32nd among
all companies in the 3rd edition of the Best Employers Poland
2023 ranking prepared by Forbes Poland and Statista. The
ranking was prepared according to the proprietary method of
Statista and Forbes. The basis for awarding the distinction
were direct recommendations from employees of the surveyed
companies.
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The Golden Bank 2023 title for Banku Millennium
Bank Millennium awarded the Golden Bank 2023 title for the
best multi-channel service quality in the Golden Banker 2023
ranking. According to the ranking organizers, Bank Millennium
is a bank from the very top, and the award was granted for
persistent and systematic efforts on continuous improvement
of the service. Bank Millennium was on the podium in all the
categories that make up the main prize, and it was the best in
two of them.
Bank Millennium in the Top 10 in the 17th edition of the
Ranking of Responsible Companies
Bank Millennium was once again at the forefront of the Ranking
of Responsible Companies – prestigious listing of the largest
companies in Poland, assessed in terms of quality of
responsible management according to ESG guidelines. In the
general classification, Bank Millennium moved up two positions
vs the last year.
Bank Millennium was also recognized as European Climate
Leader 2023
Bank Millennium’s sustainability and environmental activities
were recognized by the Financial Times and Statista. Bank
Millennium is the only company from Poland included among
European Climate Leaders 2023. European Climate Leaders is
a list of 500 companies from 33 European countries. It features
companies that, among other things, achieved the largest
reductions in GHG relative to revenues in 2016-2021 and are
transparent in reporting their emission reduction activities.
Bank Millennium is the best digital bank in Poland according
to Global Finance Magazine
In this year’s edition of World’s Best Digital Banks, organised
by Global Finance Magazine, Bank Millennium was considered
The Best Consumer Digital Bank and The Best SME Banking in
Poland, as well as The Best Consumer User Experience (UX)
Design and The Best Integrated Corporate Banking Platform) in
Central and Eastern Europe. Bank Millennium’s mobile app was
considered to be the best in Poland. The Bank also won in 8
other competition categories.
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Bank Millennium is the best bank in Poland according to
Newsweek
Bank Millennium is the winner of this year's Newsweek's
Friendly Bank ranking, winning in both ranking categories –
„Bank for Kowalski” and „Remote Banking”. Bank's winning the
"Bank for Kowalski" category was unquestionable. The Bank
achieved 90 per cent of the maximum number of points, and
in most aspects of the quality of service it had the best or near-
best result in the entire group. Bank Millennium has won in the
"Remote Banking" category for the second year in a row. Bank
was also the undisputed winner in this category, scoring as
many as 91 per cent of points. According to the organisers, the
bank's advantage over its next rival was over 26 points.
The 2nd place in the Forbes Company-Friendly Bank ranking
Bank Millennium took second place in the Forbes Company-
Friendly Bank ranking, moving up another two positions
compared to last year. Forbes’ Company-Friendly Bank is a
ranking assessing the quality of service for corporate clients,
prepared on the basis of the mystery shopper method.
Service Quality Star again for Bank Millennium
For another year in a row, the Bank was among the companies
honoured with the title of Service Quality Star, awarded to the
most friendly companies in Poland on the basis of a consumer
satisfaction survey. The award given by the Polish Service
Quality Standard means that the Bank represents the highest
standards of service, stands out from the competition, and the
Millennium brand has gained consumer recommendations.
1st place for the team of economists in the REFINITIV
ranking
In the Refinitiv (formerly Reuters) ranking, a team of
economists led by Grzegorz Maliszewski, which also includes
Andrzej Kamiński and Mateusz Sutowicz, again took 1st place
in macroeconomic forecasts for 2022. Additionally, in the
ranking of currency rate forecasts on the markets of Central
and Eastern Europe, the team was ranked 5th, ahead of,
among others, Citibank, Goldman Sachs and Bank of America.
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Bank Millennium has been included in this year's Financial
Times Diversity Leaders Ranking
Bank Millennium was included in the Financial Times’
“European Diversity Leaders” ranking. This is a list of European
companies prepared periodically by the elite business and
financial daily in cooperation with the research company
Statista. The “Europe’s Diversity Leaders 2024" ranking
presents a list of 850 companies that received the highest score
in the survey. Bank Millennium was ranked 262nd on the list,
reaching 73.36 points. We are in the sixth position in the
ranking among Polish companies, but we are the best in the
domestic banking sector.
Bank Millennium awarded by Euromoney magazine for best
digital solutions in Poland
Bank Millennium was named the best bank in the area of digital
solutions in Poland. The award was given in this year’s edition
of the ranking compiled by the editors of Euromoney magazine.
The authors of the ranking recognized the Bank's efforts to
meet the changing needs of its clients and to continuously
improve its digital offer, especially its mobile application.
Bank Millennium among the World’s Most Trustworthy
Companies in 2023
Bank Millennium was ranked among the world’s most
trustworthy companies in 2023. World's Most Trustworthy
Companies 2023 is a list of companies selected on the basis of
a holistic approach to assessing their trustworthiness. The
organizers considered three main pillars of public trust: client
trust, investor trust and employee trust. Bank Millennium was
ranked 25th among all companies included in the list.
Bank Millennium awarded for ESG activities by UN Global
Compact
The UN Global Compact Network Poland (UN GCNP) has
awarded Bank Millennium for its activities for sustainability.
The Bank received the award in recognition of its commitment
to climate change mitigation and sustainable development for
the benefit of future generations. The award also includes
effective cooperation within the framework of programs
implemented by the UN GCNP.
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Bank Millennium employees triumphed in the prestigious
Polish Contact Center Awards
We won no less than 6 awards in the Customer Communication
section in the competition organised by Polish Marketing
Association SMB. Polish Contact Center Awards is the most
important plebiscite of the Polish contact center and customer
care/service sector.
1st place for the Best Distributor of structured products in
Poland and 1st place for the Best Distributor in Eastern
Europe
In this year's edition of the SRP European Awards 2023 - a
prestigious international competition for the structured
products industry, we took 1st place in the Best Distributor in
Poland category and 1st place in the Best Distributor Eastern
Europe category.
1.8. DEFINING THE CONTENT OF THE REPORT – DIALOGUE WITH
STAKEHOLDERS
[GRI 2-29, 3-1, 3-2] The process of defining the report’s contents preceded the writing of the report. It
consisted of identifying, prioritizing and validating the key aspects of the operations of the Bank
Millennium Group in the business, environmental, employee and social areas. 30 reporting aspects
aligned to the Bank Millennium Group’s operations have been identified based on i.e. the topical
scope of the GRI Standards and sustainable development practices and trends in the financial industry.
These aspects are listed below.
BUSINESS AREA
▪ Role of ESG issues, including responsible financing, in the Bank’s business strategy,
▪ Bank’s tax policy,
▪ Availability of the Bank’s products and services, in particular to the digitally excluded
individuals, the disabled and seniors,
▪ Accurate and transparent information for the Bank’s clients, ethical marketing and sales,
▪ Innovation and development of new technologies by the Bank,
▪ The Bank's confidentiality in its customer relations; measures to prevent the loss of customer
data,
▪ Security arrangements for funds entrusted to the Bank,
▪ Activities undertaken by the Bank to prevent corruption.
ENVIRONMENTAL AREA
▪ The Bank’s climate impact and the risks and opportunities for its business related to climate
change,
▪ The Bank’s energy consumption and ways to reduce it,
▪ Environmental education activities undertaken by the Bank,
▪ The Bank’s impact on biological diversity,
▪ The Bank’s water consumption and ways to reduce it,
▪ Greenhouse gas emissions related to the Bank’s activities and ways to reduce them,
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▪ Raw materials and commodities used by the Bank,
▪ Minimization of the Bank's waste and recycling.
EMPLOYEE AREA
▪ Conditions of employment at the Bank (benefits, parental leaves, employee turnover),
▪ Informing and consulting Bank employees,
▪ Employee health and safety,
▪ Training and support for employee development,
▪ Diversity and equal opportunity in access to positions in the Bank; equal pay for men and
women,
▪ Mitigation of potential discrimination cases by the Bank,
▪ Ensuring freedom to associate and conduct collective disputes for the Bank’s employees,
▪ Wages of entry-level employees of the Bank (in relation to the minimum wage).
SOCIAL AREA
▪ The Bank’s relations with and impact on local communities,
▪ Social projects of the Bank Millennium Group and the Bank Millennium Foundation,
▪ Volunteering organized by the Bank and initiatives of its employees,
▪ Sponsorship and charitable activities of the Bank,
▪ Consideration of ESG factors in the Bank's selection of suppliers,
▪ Financial and in-kind support provided by the Bank to political parties and politicians.
These aspects were prioritized through two complementary processes: review of the internal
perspective and review of the expectations of external stakeholders.
The internal perspective was defined by the male and female representatives of the staff and
management of the Bank Millennium Group by using an anonymous web-based questionnaire. This
research was conducted from 8 December 2023 to 22 December 2023. In total, 51 persons took part
in this research.
The study of expectations of external stakeholders was also conducted in the form of an anonymous
online questionnaire. The request to take part in the process was sent to the male and female
representatives of the following groups of stakeholders:
▪ Vendors / business partners
▪ Media
▪ Clients
▪ Cultural institutions
▪ Institutional investors
▪ Business organizations
▪ Public institutions
▪ Auditors
▪ Universities / students
▪ International organizations
▪ NGOs
▪ Industrial organizations
When selecting the groups of stakeholders included in this process, the current stakeholder matrix
was used as the basis (more information on this subject in chapter 3.6. “Social environment”). The
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ESG Report of Bank Millennium
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survey was carried out on from 8 December to 22 December 2023. Responses were received from a
total of 15 individuals.
Significant reporting topics
The significant reporting topics presented below were selected by taking into consideration the results
of the processes described above. Additionally, non-financial reporting trends, TCFD guidelines on
reporting climate-related issues and regulations of the accounting act were taken into consideration.
Following an analysis of relevant topics, the Bank decided to describe some aspects in greater detail
in the report (presenting both the management approach and performance data), despite the lower
rating given by stakeholders in the survey. This includes, among other things, the consumption of raw
materials and commodities, water consumption and greenhouse gas emissions.
External stakeholders rated the following topics highest:
• Role of ESG issues, including responsible financing, in the Bank’s business strategy,
• Wages of entry-level employees of the Bank (in relation to the minimum wage).
• Security arrangements for funds entrusted to the Bank,
• Consideration of ESG factors in the Bank 's selection of suppliers,
• The Bank 's confidentiality in its customer relations; measures to prevent the loss of customer
data,
• Innovation and development of new technologies by the Bank,
• Availability of the Bank’s products and services, in particular to the digitally excluded
individuals, the disabled and seniors.
Topics rated highest from an internal perspective:
• Training and support for employee development,
• Conditions of employment at the Bank (benefits, parental leaves, employee turnover),
• Security arrangements for funds entrusted to the Bank,
• Activities undertaken by the Bank to prevent corruption.
• Employee health and safety,
• Accurate and transparent information for the Bank’s clients, ethical marketing and sales,
• The Bank 's confidentiality in its customer relations; measures to prevent the loss of customer
data.
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ESG Report of Bank Millennium
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Map of material topics
Significant topics (the report includes a description of the approach to managing these topics, as
well as the resulting data):
▪ Role of ESG issues, including responsible financing, in the Bank’s business strategy,
▪ Wages of entry-level employees of the Bank (in relation to the minimum wage).
▪ Security arrangements for funds entrusted to the Bank,
▪ Consideration of ESG factors in the Bank 's selection of suppliers,
▪ The Bank's confidentiality in its customer relations; measures to prevent the loss of
customer data,
▪ Innovation and development of new technologies by the Bank,
▪ Availability of the Bank’s products and services, in particular to the digitally excluded
individuals, the disabled and seniors,
▪ Training and support for employee development,
▪ Conditions of employment at the Bank (benefits, parental leaves, employee turnover),
▪ Activities undertaken by the Bank to prevent corruption,
▪ Employee health and safety,
▪ Accurate and transparent information for the Bank’s clients, ethical marketing and sales.
Other aspects (concise information in the report):
▪ Bank’s tax policy,
▪ The Bank’s climate impact and the risks and opportunities for its business related to
climate change,
▪ The Bank’s energy consumption and ways to reduce it,
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ESG Report of Bank Millennium
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▪ Environmental education activities undertaken by the Bank,
▪ The Bank’s impact on biological diversity,
▪ The Bank’s water consumption and ways to reduce it,
▪ Greenhouse gas emissions related to the Bank’s activities and ways to reduce them,
▪ Raw materials and commodities used by the Bank,
▪ Minimization of the Bank 's waste and recycling.
▪ Informing and consulting Bank employees,
▪ Diversity and equal opportunity in access to positions in the Bank; equal pay for men and
women,
▪ Mitigation of potential discrimination cases by the Bank,
▪ Ensuring freedom to associate and conduct collective disputes for the Bank’s employees,
▪ The Bank’s relations with and impact on local communities,
▪ Social projects of the Bank Millennium Group and the Bank Millennium Foundation,
▪ Volunteering organized by the Bank and initiatives of its employees,
▪ Sponsorship and charitable activities of the Bank,
▪ Financial and in-kind support provided by the Bank to political parties and politicians.
[GRI 3-2] Compared to the report for 2022, the following issues have been added to the list of material
topics:
▪ Role of ESG issues, including responsible financing, in the Bank’s business strategy,
▪ Consideration of ESG factors in the Bank 's selection of suppliers,
▪ Activities undertaken by the Bank to prevent corruption,
▪ Wages of entry-level employees of the Bank (in relation to the minimum wage).
Compared to the 2022 report, the following topics were not included in the list:
▪ Social projects of the Bank Millennium Group and the Bank Millennium Foundation,
▪ Environmental education activities undertaken by the Bank,
▪ Diversity and equal opportunity in access to positions in the Bank; equal pay for men and
women,
▪ Sponsorship and charitable activities of the Bank,
▪ Informing and consulting Bank employees,
▪ Mitigation of potential discrimination cases by the Bank.
The set of significant topics has changed compared to the previous reporting period as a result of
research into the internal perspective and expectations of external stakeholders.
[GRI 2-29] Effective and valuable relationships with stakeholders are a priority for the Bank, that is why
the Bank both examines their expectations as to reporting issues related to sustainable development
that interest them, and provides them with feedback on how the information obtained from them
translates into the actual content of the report.
[GRI 2-29] To ensure the involvement of all stakeholder groups, the Group takes into account potential
barriers to communication. The Group has introduced standards for the use of understandable
communication and plain language in particular areas of communication with stakeholders and places
great emphasis on its understandability, taking into account the needs of people without specialized
knowledge, as well as its suitability for various age groups and education levels. This process is
supported by employee communication training.
[GRI 3-3] At the Bank Millennium Group, we believe that as a Group we can have a significant role and
influence our stakeholders in many social and economic matters.
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ESG Report of Bank Millennium
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When considering the adverse environmental impacts of Bank Millennium Group's operations, we focus
primarily on the impacts caused by the Group's typical banking operations, which consume resources,
generate waste and emit greenhouse gases. In this respect, we have made a commitment to take
measures to reduce our carbon footprint and we are consistently implementing these measures.
The main value we offer to our clients is the opportunity to finance their needs and projects as
individuals and households, or in their business activities. This is how we impact the economy in a
positive way, by supporting the creation of new businesses and new jobs and maintaining or improving
the competitiveness of the existing ones. In this context, we also note the very important and the
critical role of banks in financing the green transition that will be required to ensure the well-being
of the future generations. These activities also affect the stabilization of the business cycle. It is in
these aspects that we see our long-term positive impact, both actual and potential, on many
stakeholders. In addition to businesses, individuals are an equally important client group. We finance
their housing and other essential needs through savings and investment products.
We recognize the importance of accessibility and focus on the digitalization and inclusiveness of the
products we offer. We are committed to the United Nations Sustainable Development Goals, which
are reflected in our strategic actions across the Bank Millennium Group. We are constantly seeking
innovative products and distribution channels that are inclusive (prevent exclusion) and we strive to
improve our approach to customer service. The Bank is a place where our clients can get help in
dealing with public administration and access e-government services. Clients can submit official
applications through the electronic banking system (applications under the Family 500+ (currently
800+) program, Good Start 300+, RKO, a nursery subsidy, login into the PUE ZUS platform, Trusted
Profile, Millennium ID).
As part of our social impact, we are committed to supporting the development of local communities
- for this purpose we established the Bank Millennium Foundation, which carries out a number of
educational, charitable and volunteer activities. We get our employees involved in these initiatives,
which allows them to use their individual resources and potential, while giving them a sense of making
their own positive impact on their community. The involvement of the Bank and its employees in
community activities is proof that collective action produces measurable, meaningful results.
We believe that the Bank has a special responsibility to raise awareness on a range of business,
economic and environmental issues. We do this by working with a variety of partners and sharing our
expertise with our stakeholders, mainly our clients and employees. The Bank’s unique initiatives
include the report entitled “Millennium Eco-Index - the eco-innovation potential of the regions”,
which is discussed in more detail in section 2.5 “Ecological education”.
At the Bank Millennium Group, we recognize that it is essential for us to ensure the security of the
funds and information entrusted to us, especially personal data, in order to maintain the trust of our
stakeholders.
In subsequent reporting periods, the Bank plans to develop and improve the process of monitoring
actions taken to manage impacts and to track the effectiveness of actions taken in relation to
identified areas of impact.
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ESG Report of Bank Millennium
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2.1. ENVIRONMENTAL IMPACT MANAGEMENT
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 - Banco Comercial Portugues (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, the Bank established within its structures the Sustainable
Development Committee and the Sustainability Department. These units are described in
"Management Approach to Sustainable Development” section.
2.1.1. CLIMATE ISSUES IN THE BANK MILLENNIUM GROUP'S STRATEGY
Climate and environmental goals were incorporated in the Group’s new strategy for 2022-2024 as well
as in the “ESG Strategy of the Bank Millennium Group for 2022-2024”, which builds on and specifies
in greater detail the environmental, social and governance goals presented in the Strategy for 2022-
2024 “Millennium 2024: Inspired by People”.
2. ENVIRONMENT
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ESG Report of Bank Millennium
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In the “Environmental Protection” pillar, we have set strategic goals in the following areas:
▪ Striving for climate neutrality
▪ Reduction of resource consumption
▪ Product offering supporting sustainability
▪ Responsible lending policy
▪ Partnership with organizations
▪ Educational activities
The climate protection goals adopted by the Group include, among others, a reduction of its own
greenhouse gas emissions by 50% in 2022 compared to 2020, achievement of climate neutrality in
terms of its own emissions (by 2027) and full climate neutrality (by 2050). Its strategic objectives also
include active support for decarbonization efforts of the Bank’s clients and granting PLN 2 billion of
financing for sustainable and transformational projects for the clients of the Bank and the Bank’s
Group over 3 years.
2.1.2. ENVIRONMENTAL POLICY OF THE BANK MILLENNIUM GROUP
A few years ago, the Bank decided to significantly reduce exposures financing the coal industry. As a
result, exposures financing coal mines, industries directly related to coal mining and coal-burning
power plants are close to zero. At the end of 2023, Bank Millennium Group's exposure to these
industries accounted for less than 0.1% of the corporate portfolio and per mille of the entire Bank
Millennium Group’s portfolio (including both on-balance sheet and off-balance sheet exposures).
Moreover, the Bank Millennium Group's exposure to crude oil and natural gas mining, service activities
supporting this mining and the production and processing of crude oil and natural gas mining products
constitutes 0.2% of the corporate portfolio and less than 0.1% of the entire portfolio of the Bank
Millennium Group ( covering both on-balance sheet and off-balance sheet exposures).
The Group implemented “Environmental Policy of the Bank Millennium Group", which defines 3
main areas of its environmental activity:
The Bank’s own environmental activities
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.
Environmentally-friendly products and responsible financing
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
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ESG Report of Bank Millennium
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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.
Environmental education
Employees, clients and business partners receive communication increasing environmental awareness.
Where justified, environmental clauses are used in agreements with product suppliers.
2.1.3. BIODIVERSITY
Environmental issues, including biodiversity, are addressed in the Bank’s commitments and policies,
including the Sustainability Policy and Environmental Policy of the Bank Millennium Group. We
constantly analyze our environmental impact and take comprehensive steps to minimize our negative
impacts. Our business strategy sets ambitious greenhouse gas emission reduction targets. We
consistently meet these targets (see also section 2.2.2 “Emissions of greenhouse gases”). We are
continuously reducing the use of resources in our operations (water, plastic, paper, electricity) and
have rebuilt our vehicle fleet (replacing combustion engine cars with less hybrid or electric vehicles
that are less carbon-intensive). We are committed to supporting our clients in their ongoing
decarbonisation processes, by financing ongoing projects that support green transformation.
In this context, the Bank Millennium Group has adopted the “Principles for Responsible Financing”
and recognizes that there are certain sectors of activity or projects, which do not correspond to the
Group’s commitment to protect the environment and preserve biodiversity. Accordingly, both
exemptions and restrictions have been defined, which should be considered when making financing
decisions. The Bank Millennium Group does not finance projects in the following categories of
activities:
▪ activities that are illegal under national or international law, including the production of or
trade in products that are deemed illegal,
▪ businesses and activities related to unlicensed trade in wildlife or endangered species.
When financing projects with certain characteristics or in sectors with a potentially higher
environmental impact, the Bank’s decision is subject to additional conditions, including in the
following areas:
▪ businesses and activities that produce, process or export/import hazardous materials or
substances (in accordance with specific national or international regulations),
▪ oil extraction projects,
▪ businesses and activities related to the production of and trade in timber from protected
areas of native tropical forests.
The Group also adheres to the commitments made in the Environmental Policy, as further discussed
in section 2.1.2, “Environmental Policy of the Bank Millennium Group”.
The Bank Millennium Group does not own or lease any real estate in protected areas or occupy any
property, which is subject to special protection.
The Group cooperates with many business partners as the buyer of various products and services from
diverse market segments. Promoting a culture of responsible consumption: Bank Millennium Group
has adopted, as part of its “Sustainability Guidelines for Suppliers”, a set of requirements for suppliers
covering sustainability issues, including environmental issues.
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ESG Report of Bank Millennium
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51At Bank Millennium Group, we are aware the importance of environmental education and raising
awareness of sustainability topics. A detailed description of our activities in this regard is provided in
section 2.5, “Environmental education”. We also attach great importance to the involvement of our
employees in environmental initiatives. The theme of this year's employee volunteering campaign was
“Protecting our planet”. As part of its eco-volunteering activities, the Bank Millennium Foundation
aimed to raise environmental awareness and promote ecological values such as: waste separation,
the greening of spaces, the protection of animals and forests, as well as raising public awareness of
environmental issues.
As part of the initiatives under the Our People’23: Save the Planet' program, our volunteers have
taken part in various environmental projects, such as building and running an apiary, cleaning up a
landscape park, supporting a hedgehog conservation program, planting honey-producing bulbous
plants, building houses for pollinating insects, and building bird feeders and nesting boxes.
As part of our commitment to environmental issues, the Group also relies on valuable partnerships,
such as our cooperation with UNGC Poland as part of the Climate Positive program, or our cooperation
with WWF Poland (more information in section 2.2.3 “Environmentally-friendly products and
responsible financing”).
2.2. REDUCTION OF THE ENVIRONMENTAL IMPACT OF THE BANK’S
OPERATIONS
Bank Millennium Group views its responsibility for the climate as an external as well as internal
commitment. In addition to the activities described above and the adopted environmental policy, the
Bank actively implements green and innovative solutions in its premises and reduces consumption of
resources. [GRI 304-1] The Bank Millennium Group does not own or lease any real estate in protected
areas or occupy any property, which is subject to special protection.
The Bank attaches great importance to reducing the level of emissions from the buildings it occupies
for the conduct of its business. In September 2023, the modernized building in Gdańsk at Al.
Grunwaldzka 19/23 received the LEED GOLD certificate. The certified Head Office was the Bank’s
flagship investment project, which included optimization of the real estate portfolio and
modernization of the Gdańsk Head Office buildings. The project was implemented in compliance with
the prudent management concept, including assumptions such as optimization of space, efficient and
environmentally friendly materials, thermo-modernisation of the building in line with the guidelines
of the energy audit, as well as the Bank’s first own installation of photovoltaic panels.
2.2.1. REDUCTION OF RESOURCE CONSUMPTION
Reduction of material consumption [GRI 306-1, 306-2]
In Bank Millennium Group the process of purchasing and supplying the Group’s organizational units
with materials necessary for the day-to-day operations is centralized. Maintaining purchasing
discipline is possible through the use of an IT tool, REZA+, through which each ordered item is verified
for legitimacy of purchase. This significantly reduces material consumption. Permanent monitoring of
budget execution and defining limits to reduce purchases to the level of current consumption also
makes a significant contribution to reducing material consumption. The process of ordering office
supplies and equipment is governed by internal instructions and then reviewed for legitimacy of
purchase and the Bank's equipment standards. Purchases of equipment such as counters, shredders,
refrigerators, microwave ovens and furniture (swivel chairs, desks, chairs and cabinets) are preceded
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
each time by a review of existing resources in terms of their reuse. This reduces the purchase of new
appliances and furniture.
Proper organization of the centralized procurement process and consistent discipline in purchasing
have helped to reduce consumption. The Bank takes measures on an ongoing basis to reduce the
consumption of purchased materials, thereby reducing the negative impact on the environment.
Collection and regeneration of used toners from multifunction devices used in the Bank is provided
by a third-party company. Waste paper and documents from the Bank’s archives whose retention
period has expired in a given year are transferred to companies specializing in the process of
destroying documentation. 100% of the documentation destroyed in industrial equipment is recycled.
All types of electronic waste (ICT equipment, electrical equipment, data carriers), metal, plastic,
wood, glass non-hazardous waste (other than municipal waste) are collected by a specialized company
that has a permit for transport, collection and recovery of all types of waste. The business partner
collecting ICT equipment, electrical equipment and data carriers acts in accordance with the
provisions of the Waste Electrical and Electronic Equipment Act. Waste collected from Bank
Millennium in 2023, excluding communal waste and paper, was recycled in 81% using the R12 recycling
method. The R12 method entails selection, disassembly, processing and production of appropriate
fractions, which are then sent for R4 recycling and metal recovery to authorized entities. Some
devices are diagnosed and sent for reuse in Grade 1 recycling. Paper waste is fully recycled.
In its operations, the Bank complies with environmental protection regulations, i.e. the Act on Waste
of 14 December 2012, as amended, Journal of Laws 2022, Item 669 of the consolidated version of 3
March 2022. In its operations, the Bank complies with environmental protection regulations, i.e. the
Act on Waste of 14 December 2012, as amended, Journal of Laws 2023, Item 1587, i.e. of 7 July 2023.
Following amendments to the Waste Act, in 2020 the Bank was listed on the Waste Database Register
(BDO).
In 2023, we recorded a lower consumption of paper, even though the number of clients increased
significantly year over year. The Bank permanently limits its consumption of paper through further
digitization, supported by the omni-channel approach and close cooperation between digital and
traditional channels, as well as through the optimization of processes. A marketing campaign
encouraging clients to switch to electronic statements resulted in a significant decrease in the number
of paper statements sent to clients by 16%. In 2023, a reduction in bulk and personal correspondence
sent to clients was recorded, which was additionally reflected in the reduced consumption of paper
and envelopes.
Millennium Leasing Sp. z o.o. also supports the paperless idea by actively promoting the eInvoice
service available to clients in the eBOK portal in place of sending hard copy invoices. Currently over
76% of all invoices are sent in electronic form via the portal. This signifies growth of 7.69% compared
to the corresponding period of the previous year. In connection with the introduction of the option to
download electronic invoices in the eBOK system, the Company reduced the consumption of paper for
hard copy invoices by 56%.
The provision of water purifiers for Bank Millennium employees and water dispensers in the branches
has further reduced plastic consumption. Water purifiers have been installed in 80% of our corporate
facilities. For a few years now, for meetings in Bank Millennium’s Head Office, catering is served in
reusable dishes and cold drinks only in glass bottles. As part of educational campaigns, the use of
reusable cups is being promoted in the Bank Millennium Head Office cafeteria. In the Bank’s branches
disposable plastic water cups for clients have been fully replaced with environmentally friendly BIO
paper cups. These cups contain no plastic, are 100% biodegradable and compostable according to
European standard EN13432. Cups can be refilled twice. In Bank branches, all plastic coffee stirrers
53
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
have been replaced with wooden ones. A small number of ex-EB branches still requires additional
security measures for cash, i.e. plastic safety envelopes, since multisafes are not attached to the
floor in these branches. The hand sanitizers introduced during the Covid-19 pandemic have remained
with us permanently. The hand sanitizer containers and diffusers are made of plastic. A small number
of field units is still supplied with water in plastic bottles, however these are ECO RPET bottles. At
present, technical conditions restrict the possibility of installing water purifiers in those locations.
Type of
materials
[GRI 301-1]
Material
consumption
[kg] *
Bank Millennium
Reasons for change
2023
2022
2021
2020
Change
2023/2
022
[%]
Renewable materials
Paper and
paper rolls for
operational
needs
216,736
240,355
250,141
354,994
-9.8%
1. A decline in the number of
paper bank statements by 16%
yoy
2. Further digitization of
documentation and
optimization of processes
3. Clients confirm some of
the transactions ordered in
outlets and sign documents
via the mobile application.
Envelopes
58,936
76,321
75,055
116,064
-22.8%
Reduced volume of bulk and
personal mailing to Bank
clients.
Cardboard
24,424
26,705
n/d
n/d
-8.5%
Procurement limits and
discipline
Total consumption of
renewable materials [kg]
300,096
343,381
325,196
471,058
-12.6%
Non-renewable materials
Plastics
11,031
14,063***
16,073
40,911**
-21.6%
1. Consistent elimination of
the purchase of water in
plastic bottles as a result of
the installation of water
purifiers.
2. Elimination of plastic
stirrers and disposable cups.
3. Less secure envelopes
required for cash transports
(an increasing number of
branches migrating to the ACS
format) – a lower number of
branches requiring security
measures for cash (no multi-
safe permanently attached to
the floor).
Consumable
materials for
printing
devices
30
54
0
1
-43.9%
Toners for the Bank’s own
devices: Field Collection and
MM outlets on shopping center
“islands”.
A third-party company is
responsible for the purchase
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
* Without data on the use of recycled materials in the composition of purchased products
** Purchase of plexiglass dividers for all branches as a result of the Covid-19 pandemic
*** Including stretch film, bubble wrap and packaging tape with an "M", that is 396 kg
* Without data on the use of recycled materials in the composition of purchased products
** Purchase of plexiglass dividers for all branches as a result of the Covid-19 pandemic
of consumables for multi-
function devices.
Batteries
863
822
794
760
4.9%
The slight increase is due to
the performance checks
carried out on the equipment.
Batteries required, among
others, for:
- remote controls for alarms,
electronic locks
- automatic hand sanitizer
dispensers,
- for A/C remote controls.
Total consumption of non-
renewable materials [kg]
11,923
14,939
16,867
41,672
-20.2%
Total consumption of
renewable and non-
renewable materials [kg]
312,020
358,320
342,063
512,730
-12.9%
Type of
materials
[GRI 301-1] Material
consumption [kg]*
Bank Millennium Group
2023
2022
2021
2020
Change
2023/2022
[%]
Renewable
materials
Paper and paper rolls
for operational needs
224,302
247,534
259,608
364,592
-9%
Envelopes
59,482
76,670
76,014
117,541
-22.4%
Cardboard
24,424
26,705
0
0
-8.5%
Total consumption of renewable
materials [kg]
308,208
350,909
335,622
482,133
-12.2%
Non-
renewable
materials
Plastics
11,125
14,550
16,532
41,371**
-23.5%
Consumable materials
for printing devices
30
54
0
1
-43.9%
Batteries
870
829
806
785
5%
Total consumption of non-
renewable materials [kg]
12,025
15,433
17,338
42,157
-22.1%
Total consumption of renewable
and non-renewable materials [kg]
320,233
366,342
352,960
524,290
-12.6%
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ESG Report of Bank Millennium
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* Without data on the use of recycled materials in the composition of purchased products
Waste generated as a result of business activity, i.e. municipal waste management and recycling
- secondary use
The Bank segregates, depending on local regulations, waste into 3 to 5 groups: plastic, paper, glass,
bio and mixed. In addition, containers for collection of batteries and small electrical waste have been
set up in the offices of the Bank's Head Office in Warsaw. A campaign to collect large size electronic
waste takes place once a year. Mixed municipal garbage is collected by the City using a pre-declared
monthly number of containers. Recycling waste bins are available at all Bank locations, both branches
and office buildings. All bins are properly labelled with educational signs with detailed waste
segregation instructions to help employees segregate waste.
Type of
materials
[GRI 301-1] Material
consumption [kg] *
Other Bank Millennium Group’s companies
2023
2022
2021
2020
Change
2023/2022
[%]
Renewable
materials
Paper and paper rolls for
operational needs
7,566
7,179
9,467
9,598
5.4%
Envelopes
546
349
959
1,477
56.3%
Total consumption of renewable
materials [kg]
8,112
7,528
10,426
11,075
7.8%
Non-renewable
materials
Plastics
94
487
459
459
-80.7%
Consumable materials for
printing devices
0
0
0
0
Batteries
8
6
11
25
19.3%
Total consumption of non-renewable
materials [kg]
102
493
470
484
-76.3%
Total consumption of renewable and
non-renewable materials [kg]
8,214
8,021
10,896
11,559
2.4%
56
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
*A detailed breakdown by waste fraction within a given waste group is presented in the tables below.
A detailed breakdown of generated municipal waste and waste sent for reuse and recycling, divided
into fractions within non-hazardous and hazardous waste groups, in accordance with the classification
of Waste Codes presented in the Act on Waste of 14 December 2012, as amended (Journal of Laws of
2023, Item 1587, i.e. of 7 July 2023), is presented in the tables below.
Similarly to previous years, managers of the buildings of the Head Offices in Gdańsk, Wrocław and
Warsaw kept a register of waste in the following categories - metal and plastic, paper and glass, bio
and mixed.
Municipal waste
Generated waste [kg] *
2023
2022
2021
Paper
11,071**
15,624
10,861
Metal and plastic
3,567**
3,759
15,434
Glass
2,931**
1,524
15,600
BIO
7,129**
1,082
4,212
Mixed
149,215**
109,190
65,220
Total
173,913**
131,179
111,327
* Data from Bank Millennium’s Head Office Building Managers Register (HQ: Warsaw, Wrocław,
Gdańsk). No information on recycling rate available.
** Changes in the reported waste volumes in respective years are due to the unification of conversion
factors for the respective recycling categories, an increase in the number of employees working in
HQ offices after the pandemic and a temporary closure of spaces due to renovation works in 2022.
The year 2023 presents complete data broken down into recycling categories.
Commentary on the volume of individual recycling categories:
a) for Building A in HQ Warsaw, details for the paper, metal and plastic, BIO and glass recycling
categories come from the actual weights in BDO cards.
[GRI 306-3] Generated waste [kg] *
Bank Millennium
2023
2022
2021
2020
Municipal waste (detailed breakdown in the table
below):
173,913
131,179
111,327
n/d
- non-hazardous
173,913
131,179
111,327
n/d
- hazardous
0
0
0
n/d
Generated waste sent for reuse and recycling
211,625
366,416
319,462
355,643
- non-hazardous
210,562
365,681
319,055
343,534
- hazardous
1,063
735
407
12,109
Total waste
385,538
497,595
430,790
343,534
- non-hazardous
384,475
496,860
430,383
343,534
- hazardous
1,063
735
407
12,109
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
a) for Building B in HQ Warsaw, details for the paper, metal and plastic, BIO and general waste
recycling categories come from the actual weights in BDO cards.
c) for all head office buildings, for recycling categories not included in the actual weights recorded
in BDO cards, data from the acceptance reports stated in litres were used. Data stated in litres were
converted into cubic meters and then into weights by applying appropriate conversion factors.
In 2023, the Bank allocated 348 items of assets (equipment and furniture) for reuse in the Bank's
branches). The relocation of the Bank’s head office in Gdańsk resulted in the need to change the
furniture, which did not fit into the arrangement of the new Head Office facility and was not used in
the Bank’s other facilities; this is why it was slated for liquidation. In order to minimize as much as
possible the amount of waste resulting from the liquidation of unnecessary furniture, the Bank
organized the sale of the furniture, including chairs, cabinets, desks, containers, tables, chests of
drawers, armchairs and bookcases, through a specialized company. The process of clearing the Gdańsk
Head Office facilities was divided into two stages. The first one took place in July 2022 and was
extremely successful, as was the second stage, carried out in January 2023. In January, the furnishing
suitable for further use was placed on the sales platform in January. The campaign was preceded by
messages in the Bank’s internal channels. The furnishings of the Gdańsk Head Office was old and worn
out, but the sale still attracted great interest. Employees and private buyers purchased nearly 69% of
the furnishings slated for liquidation. They also organized the sale of furnishings to raise funds for 7
different charitable organizations and foundations, which was a great success. Ultimately, as much
as 83% of the equipment was given a second life. Only 17% was recycled due to being worn out or
damaged.
635 items of IT and computer hardware were given a second life in 2023. Out of this number 35 items
were sold to the Bank’s employees, 55 to external entities and 545 given to charitable institutions.
[306-4] Generated waste sent for reuse and recycling
(including hazardous waste listed in a separate table)
Waste generated
[kg]
Bank Millennium
2023
2022
2021
2020
Change
2023/2022
[%]
Reasons for change
ICT equipment and
devices *
10,836
25,058
52,286
47,903
-56.8%
Continuation of the
“Computer resale to
Bank employees”
program.
Donation of computer
hardware as part of
charity campaigns
Used-up equipment
containing hazardous
elements (including
freon)**
567
557
71
5,181
1.8%
Modernization of
Head Office facilities
and disposal of
furnishings that did
not meet the Bank’s
standards and were
worn out.
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Paper *
190,345
329,040
258,754
272,316
-42.2%
Smaller number of
External Archive
documents destroyed
in connection with
the expiry of the
required storage
period in 2023
Metal waste and,
aluminum and cable
*
4,926
9,467
1,884
9,998
-48.0%
Crossover and server
racks for network
devices and servers.
Plastics *
79
269
51
4,715
-70.6%
Plastic elements from
liquidated ITC devices
and hardware.
Glass *
0
6
0
828
-100%
Furniture *
4,344
940
5,494
7,160
362.3%
Modernization of
Head Office facilities
and disposal of
furnishings that did
not meet the Bank’s
standards and were
worn out.
Lead batteries **
496
178
336
6,928
178.2%
Modernization /
relocation of HQ
Gdańsk - server racks,
UPS units
Waste printing
toner*
0
662
586
614
-100%
Cardboard
packaging*
32
239
n/d
n/d
-86.6%
Cardboard boxes of
devices and
equipment remaining
in branches.
Mixed concrete and
brick rubble waste,
waste from
construction sites
and renovations *
0
0
0
0
Responsibility for
waste management
related to facility
conversions delegated
to service providers
who report directly to
the BDO.
Total [kg]
211,625
366,416
319,462
355,643
-42.24%
Recycled waste [%]
***
98%
97%
97%
96%
* waste classified as non-hazardous according to the Waste Code classification set forth in the Act
on Waste of 14 December 2012, as amended, Journal of Laws 2023 Item 1587, i.e. of 7 July 2023.
** waste classified as hazardous according to the Waste Code classification set forth in the Act on
Waste of 14 December 2012, as amended, Journal of Laws 2023 Item 1587, i.e. of 7 July 2023.
*** percentage of waste in the table, including paper, is further recycled at processing
facilities(non-recyclable waste has been disposed of in a specialized facility)
59
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Waste generated not as a result of business activity
The annual campaign to collect electro-waste was organized in the Bank Millennium Head Office and
enabled employees to give away unwanted equipment. The Administration and Infrastructure
Department encouraged employees to do their annual clean-up by allowing a convenient way to hand
over electro-waste. The campaign also involved private equipment and batteries. In addition, bottle
and container caps are collected at the head offices and branches and then donated to a charitable
cause. The caps collected in 2023 by Bank Millennium Group employees were donated to the Dom
Rodzina Człowiek (Home, Family, Human) Association, which will sell them as recyclable material and
donate the money for: material assistance for the poor and disabled, financing the purchase of
prostheses, meals for poor families, financing tutoring for children from poor families or financing
Christmas presents for poor families. The electrical waste and batteries collected in 2023 by
employees have been 100% recycled by a specialist company.
HAZARDOUS WASTE according to Waste Code classification according to the
Act on Waste of 14 December 2012, as amended, Journal of Laws 2022 Item 699
Waste generated [kg]
Bank Millennium
2023
2022
2021
2020
Used-up equipment containing hazardous elements,
including freons, HCFC, HFC
567
557
71
5,181
Lead batteries
496
178
336
6,928
Total waste
1,063
735
407
12,109
Waste collections
from employees
[kg]
Bank Millennium Group
Reasons for change
2023
2022
2021
2020
Change
2023/2022
[%]
Electrical waste
150
232
200
250
-35
Due to the wide availability of
collection sites, and lower
building occupancy caused by
the pandemic.
Collection of
batteries
100
102
150
300
-2
Due to the wide availability of
collection sites, and lower
building occupancy caused by
the pandemic.
Collection of
plastic caps
67
123
230
n/a
-45
In 2021, we began collecting
data on the number of caps
donated.
60
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Monitoring energy, water and fuel consumption
After an analysis of the consumption of water, energy and fuels, measures are implemented to reduce
consumption of these resources, inter alia through:
• Use of energy-efficient lighting in the head office and branches and automatic systems to
reduce energy and water consumption in the head office building in Warsaw, which has been
awarded the BREEAM certificate (Very Good level), and LEED Gold in Wrocław. Additionally,
in Wrocław, Dali system (Digital Addressable Lightning Interface) is installed, which reduces
operating costs and increases the comfort of work. Used both daylight supply sensors and
occupancy sensors throughout the space, which contributes significantly to energy efficiency.
• In September 2023, we received the LEED Gold certificate, which confirmed that the
furnishing of the office spaces opened in 2022 in Gdańsk at ul. Grunwaldzka 19/23 meets all
the criteria of modern, energy-efficient and effective buildings fit for the 21st century. The
certification process began long before the construction process. The detailed design, which
was used as the basis for carrying out the renovation, was prepared in accordance with LEED
guidelines, with the main consideration of applying a prudent approach to environmental
solutions. Given the difficulties in the energy market, and emphasizing its commitment to
people, the environment and society, Bank Millennium is introducing additional measures to
reduce electricity consumption. It has decided to switch off light boards and advertising
screens at its head offices and its branches nationwide after office hours. This campaign was
promoted widely in the media, including social media (video, articles).
• In order to reduce fuel consumption, Bank Millennium Group has replaced all gasoline cars in
its fleet with gasoline-powered hybrid models, while leased cars with diesel engines are
replaced with gasoline hybrids. For business travel, low-emission means of transport (rail) are
preferred and limits associated with the use of airplane transport are applied.
Methodology for calculating the annual consumption of utilities and fuel
The calculations of annual consumption of utilities are based on data on costs and quantities (in
physical units) of consumption of the relevant utility. The method involves a consistent combination
of known quantitative data and data calculated on the basis of relevant costs. The costs data, after
reduction by the values for which consumption (measured in physical units) is known, are used to
determine the consumption of utilities that are not known directly. This part of calculations uses the
average prices of the relevant utilities calculated on the basis of a sample invoices for each kind of
utility. The consumption is then allocated to Bank Millennium and the BM Group based on the known
values associated with the Group’s structure.
61
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
[GRI 302-1]
Energy
consumption
[GJ]
2023
2022
2021
2020
Change
2023/2022
[%]
Reason for change
Electricity purchased
Optimization of the
number of branches
and own buildings,
reduction of the
number of head office
buildings and
optimization of the
Gdańsk HQ,
introduction of
technical equipment
optimization.
Bank
Millennium
59,779
72,323
76,979
83,621
-17.34%
Bank
Millennium
Group
65,027
80,112
87,265
94,936
-18.83%
Electricity from RES *
The Bank has
purchased guarantees
of origin of electricity,
which it associates
with a zero emission
ratio.
Bank
Millennium
100%
100%
68%
n/d
0%
Bank
Millennium
Group
100%
100%
68%
n/d
0%
RES electricity
generated in own
renewable energy
sources
In January 2023, the
first own PV
installation was
launched, which has
been installed on the
roof of the Gdańsk
Head Office at
Grunwaldzka and is
capable of covering
more than 20% of its
demand for
electricity.
Bank
Millennium
71
0
0
0
100%
Bank
Millennium
Group
71
0
0
0
100%
Heat energy purchased
The decrease is due to
the reduction in the
number of branches,
buildings, as well as
the optimization of
the modernized Head
Office in Gdańsk and
higher external
temperatures in the
heating season.
Bank
Millennium
51,416
76,147
85,913
102,763
-32.48%
Bank
Millennium
Group
54,906
80,174
92,029
115,969
-31.52%
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Natural gas
Similarly as for
purchased heat.
Bank
Millennium
5,294
6,013
6,600
6,821
-11.96%
Bank
Millennium
Group
5,698
6,331
7,099
7,897
-10.01%
Heating oil
Similarly as for
purchased heat.
Bank
Millennium
309
412
334
240
-25.07%
Bank
Millennium
Group
411
553
423
291
-25.69%
Total energy used for
heating purposes
Bank
Millennium
57,019
82,572
92,848
109,824
-30.95%
Bank
Millennium
Group
61,015
87,059
99,553
124,157
-29.92%
Gasoline **
Bank
Millennium
26,758
20,777
16,159
14,109
28.78%
Bank
Millennium
Group
30,200
23,848
19,019
18,070
26.64%
Diesel **
Bank
Millennium
561
3,782
7,503
10,403
-85.16%
Bank
Millennium
Group
561
4,446
8,279
10,823
-87.38%
LPG **
Bank
Millennium
674
3,117
4,146
3,376
-78.37%
Bank
Millennium
Group
674
3,117
4,154
3,376
-78.37%
63
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Total energy used for
transport purposes
Bank
Millennium
27,993
27,676
27,808
27,888
1.14%
Bank
Millennium
Group
31,435
31,411
31,452
32,269
0.08%
Total consumption of
energy from renewable
energy sources
Bank
Millennium
59,850
72,323
52,346
n/d
-17.3
Bank
Millennium
Group
65,098
80,112
59,340
n/d
-18.7
Total energy
consumption from
non-renewable energy
sources
Bank
Millennium
85,012
110,248
145,288
221,333
-23%
Bank
Millennium
Group
92,450
118,469
158,929
251,362
-22%
Total energy
consumption
Bank
Millennium
144,862
182,571
197,634
221,333
-20.69%
Bank
Millennium
Group
157,548
198,581
218,269
251,362
-20.70%
* The calculation method is described on page 84
** Values in liters are shown in the table below.
64
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Fuel consumption [l]
2023
2022***
2021
2020
Change
2023/2022
[%]
Gasoline
Bank Millennium
808,037
627,440
487,974
422,327
28.78%
Bank Millennium Group
911,988
720,167
574,344
540,896
26.64%
Diesel
Bank Millennium
15,677
105,655
209,588
271,300
-85.16%
Bank Millennium Group
15,677
124,194
231,267
282,251
-87.38%
LPG
Bank Millennium
24,568
113,601
151,133
131,415
-78.37%
Bank Millennium Group
24,568
113,601
151,415
131,415
-78.37%
Energy generated in own
sources but not for own
consumption [GJ]
2023
2022
2021
2020
Change
2023/
2022
[%]
Reason for change
RES electricity generated in own
renewable energy sources and
transferred to the grid
In January 2023, the first
own PV installation was
launched, which has been
installed on the roof of the
Gdańsk Head Office at
Grunwaldzka and is
capable of covering more
than 20% of its demand for
electricity. Some of the
energy, due to the working
system of the installation
had to be returned to the
local grid.
Bank Millennium
12
0
0
0
100%
Bank Millennium Group
12
0
0
0
100%
65
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
[GRI 303-5]
Water
consumption*
2023
2022
2021
2020
Change
2023/2022
[%]
Reason for change
Bank
Millennium
66,640
73,838
66,146
93,391
-9.7
Water consumption is
strictly dependent on the
number of employees
staying at offices and
branches; the lower
consumption in 2023 was
due to the hybrid work
model still in effect, but
mainly due to the decrease
in the number of branches
and office buildings and the
installation of modern
perlator taps in own
buildings. Perlator taps
(special attachments to taps
that visually increase the
flow of water through
aeration) can save from 15%
to 25% of water.
Bank
Millennium
Group
70,516
77,676
70,739
101,898
-9.2
* no water consumption in drought-prone areas (water stressed areas).
The decrease in diesel fuel consumption is due to the fact that the year 2023, as well as 2022 and
2021, marked the expiry of many diesel car contracts acquired as a result of the merger with Euro
Bank. The increase in gasoline and LPG consumption levels is, in turn, due to a considerable recovery
in 2023 in business car use, which dropped significantly in 2020 due to the pandemic, as well as the
fact that the fleet is replaced with gasoline hybrid cars (hybrids currently represent 100% of gasoline-
fueled cars).
Rationalization of business travel is driven by the constraints of Bank-imposed modes of transportation
and the approval path when a higher standard of transportation is used. Employees may use rail
transport (PKP), and coach and bus transport (PKS and BUS). With regard to the process of ordering
train and airline tickets, the Bank uses the support of an external company with which it has an
agreement to handle business travel. For airplane and private car travel, a Management Board Member
approval is required. Additionally, as part of the modernization of the Bank's Head Offices in Warsaw,
Wrocław and Gdańsk, multimedia devices and Internet applications (e-learning training platform,
MSTeams, Skype) are used to organize meetings and trainings, which translates into less business
travel, which would show a much more significant growth than that actually recorded.
66
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
* data for Bank Millennium; the Subsidiaries do not maintain a register of km travelled
** the 2020 data have been updated according to the new methodology applied - see pages 87-88
for a description
In 2023, as in previous years, training away from the office was limited considerably and was mostly
done through an e-learning platform.
The subsidiaries handle their business travel on their own.
Environmental activities
The Bank Millennium Group conducts a number of activities aimed at optimizing the use of energy,
water, fuel and purchased materials.
Plastic
Measure
Description
Limiting plastic
consumption
▪ Popularity of payments using a virtual card, BLIK mobile payments
and BLIK contactless payments in a mobile app reduces the need
for plastic cards;
▪ Temporary card blocking option – a client who suspects to have
lost a card may block it for some time until it is found instead of
cancelling it; as a result there is no need to issue a new card.
▪ There are water treatment purifiers at the Bank’s Head Office -
no need to purchase bottled water; This initiative is continued
and extended to field units as the outlets are modernized.
▪ Based on the average number of shipments sent out, a limit for
secure plastic envelope orders was set for each of the Bank's
organizational units.
Business travel [km] *
Bank Millennium
2023
2022
2023
2020
Change
2023/2022 [%]
Air **
506,391
485,104
302,402
393,922
4%
Taxi
12,344
15,097
991
1,943
-18%
Railway **
2,938,928
1,693,785
725,916
1,105,957
74%
Bus
25,154
44,843.5
8,649
208,455
-44%
Private car
39,986
42,548
53,248
48,963
-6%
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Efficient
management of
available
resources
• Reuse of resources allows the Bank to reduce the purchased
quantities of furnishings (desk chairs), own devices (shredders and
bill counters) and consumable materials (e.g. toners, hangers,
inking ribbons).
• Appliances and equipment from closed down or remodeled
branches are handed over for use in other outlets. In 2023, the
Bank allocated 348 items of assets (equipment and furniture) for
reuse in the Bank's branches).
Zero Waste - the
second life of
furniture
• The Bank organized the sale of the furniture, including chairs,
cabinets, desks, containers, tables, chests of drawers, armchairs
and bookcases, through a specialized company. In the process of
clearing Gdańsk HQ facility in January 2023, equipment classified
as fit for continued use Was posted on the sale platform. The
campaign was preceded by messages in the Bank’s internal
channels. Even though the furnishing of the Gdańsk Head Office
was old and worn out, the sale commanded great interest.
Employees and private buyers purchased nearly 69% of the
furnishings slated for liquidation. They also organized equipment
sale to raise funds for charity, which was a great success. As
much as 83% of the equipment was given a second life. Only 17%
was recycled due to being worn out or damaged.
IT Tools
▪ The IT system supports verification of each purchase order for
materials and office equipment in terms of the justification for
the purchase and the defined limit, thereby contributing to
reduced consumption of resources;
Recycling -
donating
operable
computers to
those in need
and reselling IT
devices and
accessories
withdrawn from
use.
▪ In 2023, the Bank continued its work of donating computer
equipment to schools, kindergartens and other educational
institutions. Overall, 545 pieces of equipment have been donated
since January 2023.
In 2023, the program of resale of IT devices and accessories
withdrawn from use to Bank employees was continued; 36 devices
were sold overall (notebooks, phones).
In 2023, there was also an initiative of selling retired devices to
external entities. As part of this initiative, 55 devices/accessories
were sold (ICT racks and multi-safes).
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ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Paper
Action
Description
Restrictions on
printing of
documents
▪ In branches, postings of internal transactions are recorded in the
system - there is no need to print them out.
▪ The quantity of paper ordered to print cash and treasury
transactions is controlled on an ongoing basis, based on monthly
cash transaction reports;
▪ The automated ATM settlement process does not require related
documents to be printed;
▪ Print volume monitoring - reports are sent to the units generating
the highest print volumes so that reduction measures can be taken;
▪ Printing on company printers is possible only after the employee
logs in to a specific device, which prevents accidental printing.
▪ Millennium Leasing plans to actively promote the eBOK service,
including new functionalities (submitting applications, the
document module) and access to e-invoices, in online campaigns
(including own channels, social media). Handling as many cases as
possible online can significantly reduce the amount of paper used
and the carbon footprint.
Opening an account
online using a selfie
or open banking
▪ The Bank provides the option to open an account online with a
selfie or with proof of identity by logging into an account at
another bank. Both processes are fully remote and require no
printing of any documents.
Buying tickets on
the mobile
application
▪ The Bank’s clients may use the application to buy tickets for
municipal transport, parking, highways and tickets to Helios
cinemas. The tickets are stored within the application and they
do not have to be printed out or use any paper tickets.
Digitization of
mortgage loans
▪ For more than a decade now, the Bank has been actively
improving the mortgage loan application and maintenance
process. A client applying for a loan can track the status of the
application online, he/she may approve the application by SMS or
use e-appraisal, which is an electronic property valuation
document. Clients with an active loan may manage their loan
remotely via Millenet and attach scans of an insurance policy
without a need to deliver hard copy documents. Od 2023 roku
klienci mogą również zdalnie zlecić wypłatę transzy kredytu, co
nie wymaga drukowania dodatkowych dokumentów, jak to jest w
przypadku zlecenia składanego w placówce banku.
69
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Action
Description
Mobile
authorization in
Bank’s outlets
▪ The Bank allows some of the transactions ordered in branches to
be authorized using mobile authorization.Some of the
transactions requested in a branch may be approved in the bank’s
application by clients with an active mobile authorization option.
The service continues to be expanded by adding further orders.
Opening and
administering
investment, credit
or deposit products
in remote channels
▪ Bank Millennium clients may submit applications for credit
products, open bank deposits or invest their savings through
electronic channels. Clients can also complete the MiFID
questionnaire online. In 2023, the remote process of applying for
a credit card was improved.
Electronic
circulation of
internal documents
• By introducing IT systems for processing internal documents, the
circulation of most paper documents has been eliminated in the
Bank;
• Processing client documentation (e.g. loan applications) is based
on electronic copies of documents;
Actions aimed at
reducing the
number of printouts
for clients
▪ Electronic document circulation through Millenet for Corporates -
the solution enables transferring and receiving digital documents
and concluding agreements with the use of an electronic
signature with a qualified certificate. This allows you to dispense
with printing documents for signature;
▪ Some documents are posted on the Bank's website and in internet
banking. Through internet banking, for example, the client is
informed of changes to the terms of service (durable medium);
▪ Simplification of language in documents for clients, consolidation
of documents (several instructions in one document, several
agreements in one template);
▪ Access to e-government - official applications can be submitted
through electronic banking, which reduces the use of paper
(applications from programs: Family 500+ (currently 800+), Good
Start 300+, RKO, subsidy for nursery, logging in to the PUE ZUS
platform, Trusted Profile, Millennium ID);
▪ Possibility to pay motorway tolls and buy public transportation
and parking tickets through the mobile application;
▪ Electronic statements - electronic bank statements are the
default option for every new client concluding an agreement for
bank products and services. It is possible to opt out of this option
at a client’s request. The Bank actively conducts campaigns
promoting the use of electronic statements;
▪ The Bank promotes the use of electronic statements;
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Action
Description
▪ Electronic application process for products: opening another bank
account, cash withdrawals, loan application, setting up a deposit,
etc.;
▪ Contactless phone payments with the possibility to virtualize
plastic cards, BLIK contactless payments, and promoting cashless
payments;
▪ Purchase of insurance products also in remote channels, where
you can conveniently and intuitively purchase insurance fully
online without the use of hardcopy documentation;
▪ When applying for a mortgage loan, scans of documents can be
directly uploaded to the Bank's system by bank employees or they
can be retrieved from public records and client’s checking and
savings account statements generated online. Clients may also
deliver some documents, such as a statement from a checking and
savings account in the electronic form to the bank’s employee.
▪ Clients with a mortgage loan can attach scans or photos of their
insurance policy through remote channels, without having to
provide paper documents;
▪ The goodie smart-shopping platform launched by Bank Millennium
makes it possible to browse stores’ online offers and electronic
newspapers instead of their hard copy counterparts.
▪ Online trade finance module – solution for corporate clients
facilitating electronic orders and remote correspondence with the
Bank;
▪ E-guarantee for business clients - is a bank guarantee issued in
electronic form (PDF file) using a qualified electronic signature of
two of the Bank's attorneys-in-fact;
▪ In Millennium TFI, transaction confirmations can be sent to the
client electronically. The client has the option of specifying an e-
mail address for receiving electronic transaction confirmations;
▪ The distributors with whom TFI has signed distribution
agreements offer the possibility of purchasing fund units online
(the purchase form for the client is electronic);
▪ Millennium Leasing offers their customers online service in the
form of an eBOK (electronic Customer Service Office). As a result,
clients can, among other things, download electronic invoices,
monitor payments, create files with lists of contracts, installment
plans, request certain matters related to a contract or leased
item. In 2023, a new “Document Module” function enabling secure
uploads and downloads of documents was added the site. Through
this function, a client may sign a leasing agreement remotely by
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Action
Description
using his/her qualified electronic signature. During 2023, the share
of clients using the eBOK increased from 85% to 89%.
▪ One of the key initiatives of Millennium Leasing is the
popularization of e-Signature, introduced in 2020, as a form of
signing leasing contracts. In 2023, the company used this method
to sign 51% of its customer contracts for which such a possibility
was provided, which accounted for 18% of the total number of
contracts concluded.
Product sales via
remote channels
• Retail clients may apply for credit, savings, investment and
insurance products using remote channels. They can also open
accounts, including a company account, a currency account and an
account for a child.
• Clients who want to open their own business can do it through the
bank.
• On the website, individuals who are not the bank’s clients may
open an account or apply for a cash loan.
• The Bank’s clients have been able to buy codes for online services
and gift cards on the mobile application and in Millenet. Top-up
codes are available in the application. The code must be entered
on the shop’s or service provider’s website, with no need to print
it out.
• In 2023, the Bank intensively developed its digital offer for
businesses. Microbusinesses have access to additional services,
such as leasing, POS and SOFT POS terminals, accounting
integrated with banking.
• In 2023, the bank launched a new mobile application for the
medium and large corporate segment.
• Corporate clients can apply for a payment card or open another
account through the internet banking system. Clients applying for a
loan can submit the required documentation electronically.
Share of electronic channels in the sales of key products
Personal accounts
Cash loans
Term deposits
40%
81%
96%
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Increase in the number of clients using online services
2023
2022
2021
2020
Change
2023/2022
All clients with access to
electronic banking
4,279,725
4,029,156
3,489,972
3,230,769
+6.3%
Active electronic banking
users
2,701,645
2,519,181
2,263,233
2,052,806
+7.2%
Clients who actively use
mobile banking
2,473,365
2,240,077
1,920,883
1,658,554
+10.4%
Clients using Mobile
Authorization
3,068,670
2,427,184
1,995,707
1,394,169
+26.4%
Clients using online
statements
3,196,035
3,054,970
2,807,904
2,643,960
+4.6%
Clients with access to
e-administration
1,407,852
1,133,697
1,058,813
664,695
+24.2%
Clients using contactless
payments (registered)
1,155,562
1,065,749
811,267
580,720
+8.4%
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Electricity and water
Action
Description
Energy efficient
buildings of the
Bank’s Head
Office in Warsaw,
Wrocław and
Gdańsk
▪ The Warsaw Head Office buildings have the BREEAM certificate, the
ones in Wrocław were awarded the LEED GOLD certificate. In
September 2023, the modernized building in Gdańsk at Al.
Grunwaldzka 19/23 received the LEED GOLD certificate.
▪ As part of the investment project executed in Gdańsk at Al.
Grunwaldzka 19/23, the areas surrounding the building were
recultivated, new vegetation was planted (627 items), and the
existing plants were maintained. The existing Green Square with old
trees was carefully maintained and benches were installed for the
Bank’s employees to rest.
▪ At the Bank’s Head Offices located in Warsaw and Wrocław, smart
building management systems (BMS) are installed, which support our
efforts to optimize the consumption of utilities.
▪ At ul. Grunwaldzka 19 in Gdańsk, the first 25.3kwp photovoltaic
system consisting of 69 modules was installed.
▪ Our entire head office space is equipped with LED lighting; we
replaced nearly 14,000 fixtures (the total in the head office
buildings in Gdańsk, Warsaw and Wrocław) using the old fluorescent
technology with modern LED lighting, thereby reducing lighting
energy consumption by 54%.
▪ In the new head offices in Gdańsk and Wrocław, LED lighting was
used in the DALI system with motion sensors and light intensity
sensors taking into account the supply of daylight. Improving the
quality of lighting in offices has had a tremendous impact on
employee health, well-being and productivity.
▪ In 2023, a smart LED lighting system was installed in the garage of
the Head Offices in Warsaw.
Reduction of the
operating time of
technical
equipment
▪ In 2023, the optimization of the operating time of the installations in
the buildings progressed. To this effect, the settings and technical
parameters of various devices, for example, operating time of office
lighting, operating time of ventilation and air conditioning and
temperature settings in individual areas, were changed. These
optimizations have helped minimize electricity consumption at the
Bank's Head Offices.
Energy savings in
branches
▪ Advertising banners with traditional light sources were replaced with
energy-efficient LEDs in all branches.
▪ Time control of advertising banner lighting using astronomical clocks.
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Action
Description
▪ We have consistently increased the number of branches with LED
lighting. At the end of 2023, 186 branches used LED lighting. LED
lighting is standard in all modernized Corporate Centers.
▪ All facilities have restricted air conditioning operation by installing
timers to regulate the running time of air conditioning units.
Rational
management of
energy
consumption
▪ In the Bank’s Head Offices, the air conditioning is set at 21 degrees
Celsius and ceases to operate after working hours;
▪ During visits of Experts in the Bank's branches, a campaign promoting
conscious use of air conditioning in the context of electricity
consumption and environmental protection is conducted.
▪ Virtualization of servers has made it possible to reduce the number of
physical hardware in the computer center, which drove down energy
consumption for power supply and air conditioning;
▪ In 2023, additional floors at the Bank’s Head Office in Warsaw were
redeveloped. Occupancy sensors were installed in all toilets and
small kitchens - the lights turn off automatically if there are no
people present. In new and modernized office spaces, a modern
lighting system with occupancy sensors and light intensity sensors was
installed in the open space sections, using daylight supply. The
system is designed to significantly reduce utility consumption
compared to old-style lighting.
Utility
consumption
control
▪ It is done on an ongoing basis. Based on the financial data, a
consumption ranking of energy recipients is prepared. Branches with
the highest energy consumption rates are controlled and
recommendations for building administrator companies are
implemented. Similarly, in the event of high utility bills it is verified
whether the consumption is correct and whether or not any devices
or installations have broken down. In 2023, the additional education
campaign for network employees regarding social spaces was
continued – in all locations that have not yet been equipped with
light and climate sensors. The campaign encouraged employees to
consume electricity rationally.
Optimization of
water
consumption
(branches and
head office)
▪ In its own buildings, the Bank installed 173 state-of-the-art perlator
taps, special tap attachments that visually increase the flow of water
through aeration. Perlator taps save from 15% to 25% of water.
▪ Hot and cold water dispensers are installed in the Head Offices,
which encourages office workers to use dispensers instead of buying
bottled water. This has the effect of reducing waste - including
plastic.
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Action
Description
Infrastructure
supporting ESG
objectives
▪ (Showers, chargers, bicycle parking, green areas - Gdańsk and
Warsaw) In order to promote measures reducing CO2 emissions, the
Bank encourages employees to ride bicycles instead of using public
transport and cars. In each location of the Bank’s Head Office, the
Bank has built parking spots for cyclists and sanitary facilities.
▪ By installing a parcel machine at the Warsaw Head Office, the Bank
promotes the reduction of CO2 emissions, because employees no
longer have to drive to get parcels. A single parcel machine reduces
CO2 emissions by almost 14,000 kg.
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[GRI 302-4]
Energy savings in the Bank's locations
2023
2022***
2021
2020
RETAIL OUTLETS
(excluding Millennium Mini outlets)
Branches with LED lighting banners
350
381
417
456
100%
100%
100%
100%
Energy-saving light sources in branches
(LED lighting)
186
169
153
117
53.1%
44.3%
36.5%
26%
CORPORATE BANKING OUTLETS*
Branches with LED lighting banners
6
5
8
7
100%
100%
100%
100%
Energy-saving light sources in locations
(LED lighting)
4
4
4
1
67%
80%
50%
14%
BANK MILLENNIUM’S HEAD OFFICES**
Branches with LED lighting banners
3
3
3
3
100%
100%
100%
100%
Energy-saving light sources in locations
(LED lighting)
3
3
2
1
100%
100%
66%
33%
* Corporate banking outlets, excluding locations at the same address as the Head Offices or retail
outlets.
** Bank Millennium Head Offices understood in terms of city location rather than individual
buildings due to dispersed structure.
*** Starting in Q3 2022, the new rules for turning advertisements on were introduced. The banners
are turned on at 3:30 p.m. and turned off when the outlet is closed.
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Fuels
Action
Description
Hybrid vehicles
Gasoline combustion cars in the Bank’s fleet have been replaced with new
hybrid vehicles, which translated into even greater reductions in exhaust
emissions into the environment.
Limiting the
amount of
business travel
In order to minimize business travel, limits are used for respective types of
transportation (and the low-carbon railway is recommended, as shown by
the increased number of railway kilometers traveled) and remote
communication methods are used, such as: e-learning courses,
teleconferencing and videoconferencing.
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2.2.2. GREENHOUSE GAS EMISSIONS
The bank has been monitoring and publishing data on carbon dioxide emissions for over a decade.
In the current business strategy, the Bank declared a reduction of greenhouse gas emissions in 2022
by 50% in scope 1 and 2 compared to 2020 (in a market-based approach), as well as striving to achieve
climate neutrality by 2027 in scope 1 and 2, and by 2050 in scope 3. The choice of the base year
(2020) results from the Bank Millennium Group Strategy for 2022-2024. In 2023, Bank Millennium
reduced greenhouse gas emissions in scope 1 and 2 by 69.2% compared to the base year, and the Bank
Millennium Group by 70.6%. Information on the emission volume in 2023 (compared to 2020 and 2022)
and information on the calculation methodology are presented below.
Carbon footprint [GRI 305-1, 305-2, 305-3, 305-4]
Scope 1, 2 and 3 GHG emissions in tonnes CO
2
e for Bank Millennium
Scope of
GHG
emissions
Emission category
Emissions [tonnes CO
2
e]
Percentage change
2023
2022
2020
2023/2022
2023/2020
Scope 1
Combustion in mobile
sources
1,772
1,803
1,840
-1.7%
-3.7%
including:
● LPG
38
177
204
-78.5%
-81.4%
● Diesel
39
270
703
-85.6%
-94.5%
● Petrol
1,695
1,356
933
+25.0%
+81.7%
Combustion in
stationary sources
316
363
405
-12.9%
-22.0%
including:
● Natural gas
294
333
388
-11.7%
-24.2%
● Heating oil
22
30
17
-26.7%
+29.4%
Fugitive emissions**
30
_
_
+100.0%
_
Total: Scope 1
2,118
2,166
2,245
-2.2%
-5.7%
Scope 2
Purchase of heat
5,168
7,769
9,917
-33.5%
-47.9%
Purchase of
electricity (location-
based)
11,375
14,224
16,820
-20.0%
-32.4%
Purchase of
electricity (market-
based)
0
0
11,517
0.0%
-100.0%
Total: Scope 2 (location-based)
16,543
21,993
26,737
-24.8%
-38.1%
Total: Scope 2 (market-based)
5,168
7,769
21,434
-33.5%
-75.9%
Cat. 1 Purchased
goods and services*
749
746
_
+0.4%
_
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Cat. 2 Capital
goods*
387
424
_
-8.7%
_
Scope 3
Cat. 3 Fuel- and
Energy-Related
Activities not
included in Scope 1 or
Scope 2 (location-
based)
3,436
4,209
3,120
-18.4%
+10.1%
Cat. 3 Energy and
fuel-related emissions
(not included in scope
1 and 2) (market-
based)
781
768
3,120
+1.7%
-75.0%
Cat. 5 Waste
generated in
operations*
51
48
_
+6.3%
_
Cat. 6 Business
travel
200
161
127
+24.2%
+57.5%
Total: Scope 3 (location-based)
3,635
4,370
3,247
-16.8%
+11.9%
Total: Scope 3 (market-based)
981
929
3,247
+5.6%
-69.8%
Total: Scope 3 (location-based)*
4,822
5,588
_
-13.7%
_
Total: Scope 3 (market-based)*
2,167
2,147
_
+0.9%
_
Total: Scope 1, 2, 3 (location-
based)
22,297
28,528
32,230
-21.8%
-30.8%
Total: Scope 1, 2, 3 (market-
based)
8,267
10,864
26,927
-23.9%
-69.3%
Total: Scope 1, 2, 3* (location-
based)
23,483
29,746
_
-21.1%
_
Total: Scope 1, 2, 3* (market-
based)
9,454
12,082
_
-21.8%
_
* Categories included in emission calculations since 2022 (additionally in scope 3: cat. 1, 2, 5). Data
without * is data for which a report was prepared in the base year (2020): scope 1 and 2 and categories
3 and 6 of scope 3.
** In 2023 fugitive emissions from refrigerant leaks were calculated for the first time.
The volume of total GHG emissions (market-based) generated by Bank Millennium in 2023 amounted
to 9,454 tons of CO
2
e, with the extension of the scope of calculations for scope 3 compared to the
base year to include new categories: purchased products and services, capital goods and waste
generated during activities. These categories were selected based on materiality analysis taking into
account data availability criterion and are counted from 2022. With the scope of calculations the
same as in the base year 2020, emissions for 2023 amounted to 8,267 tons of CO
2
e (market-based)
and were 69.3% lower than in 2020.
In 2023, direct emissions generated by Bank Millennium in scope 1 amounted to 2,118 tons of CO
2
e,
of which 83.7% came from combustion in mobile sources, 14.9% from combustion in stationary sources,
and 1.4% was related to leakage of refrigerants. In 2023, indirect emissions in scope 2 (location-based)
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ESG Report of Bank Millennium
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amounted to 16,543 tons of CO
2
e, of which 68.8% were related to the consumption of purchased
electricity and 31.2% of purchased heat energy. In 2023, indirect emissions in scope 2 (market-based)
for electricity amounted to 0 tons of CO
2
e due to the fact that Guarantees of Origin covering
consumption of 16,605 MWh were purchased. 5,168 tons of CO
2
e were emitted due to consumption of
purchased thermal energy.
In 2023, emissions related to production of purchased products and services, capital goods and the
management of waste generated as part of activities were calculated, taking into account the same
scope as in 2022. In 2023, the share of indirect emissions in scope 3 (market-based) was 22.9% of the
total calculated emissions, and in the location-based approach this share was 20.5%.
Purchased products and services included emissions related to plastic payment cards and office
supplies, and emissions from them amounted to 34.6% of emissions from scope 3 (market-based
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ESG Report of Bank Millennium
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method). The capital goods category includes IT equipment (i.e. laptops, printers, desktop
computers, mobile phones). GHG emissions in this category amounted to 17.9% of emissions from
scope 3 (market-based method). Emissions related to energy and fuels (not included in scope 1 and
2), also including indirect emissions related to the photovoltaic installation owned by Bank
Millennium, accounted for 36.0%, and business trips accounted for 9.2% of emissions from scope 3
(market-based method). The waste generated as part of the activities includes paper and cardboard
waste, used IT equipment, metals, batteries, plastic, and GHG emissions related to their management
amounted to 2.3% of emissions from scope 3 (market-based method).
Carbon footprint [GRI 305-1, 305-2, 305-3, 305-4]
Scope 1, 2 and 3 GHG emissions in tonnes CO
2
e for Bank Millennium Group
Scope of
GHG
emissions
Emission category
Emissions [tonnes CO
2
e]
Percentage change
2023
2022
2020
2023/2022
2023/2020
Scope 1
Combustion in mobile
sources
1,991
2,051
2,130
-2.9%
-6.5%
including:
● LPG
38
177
204
-78.5%
-81.4%
● Diesel
40
317
731
-87.4%
-94.5%
● Petrol
1,913
1,557
1,195
+22.9%
+60.1%
Combustion in
stationary sources
346
390
471
-11.3%
-26.5%
including:
● Natural gas
317
351
450
-9.7%
-29.6%
● Heating oil
29
39
21
-25.6%
+38.1%
Fugitive emissions**
29
_
_
100.0%
_
Total: Scope 1
2,366
2,441
2,601
-3.1%
-9.0%
Scope 2
Purchase of heat
5,519
8,180
11,191
-32.5%
-50.7%
Purchase of
electricity (location-
based)
12,373
15,755
19,096
-21.5%
-35.2%
Purchase of
electricity (market-
based)
0
0
12,985
0.0%
-100.0%
Total: Scope 2 (location-based)
17,892
23,936
30,287
-25.3%
-40.9%
Total: Scope 2 (market-based)
5,519
8,180
24,176
-32.5%
-77.2%
Cat. 1 Purchased
goods and services*
757
962
_
-21.3%
_
Cat. 2 Capital
goods*
387
450
_
-14.0%
_
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Scope 3
Cat. 3 Fuel- and
Energy-Related
Activities not
included in Scope 1
or Scope 2 (location-
based)
3,755
4,676
3,565
-19.7%
+5.3%
Cat. 3 Energy and
fuel-related
emissions
(not included in
scope 1 and 2)
(market-based)
868
865
3,565
+0.3%
-75.7%
Cat. 5 Waste
generated in
operations*
52
48
_
+8.3%
_
Cat. 6 Business
travel
200
161
127
+24.2%
+57.5%
Total: Scope 3 (location-based)
3,955
4,837
3,691
-18.2%
+7.2%
Total: Scope 3 (market-based)
1,067
1,026
3,691
+4.0%
-71.1%
Total: Scope 3 (location-based)*
5,151
6,297
_
-18.2%
_
Total: Scope 3 (market-based)*
2,263
2,486
_
-9.0%
_
Total: Scope 1, 2, 3 (location-
based)
24,213
31,214
36,580
-22.4%
-33.8%
Total: Scope 1, 2, 3 (market-
based)
8,953
11,647
30,469
-23.1%
-70.6%
Total: Scope 1, 2, 3* (location-
based)
25,409
32,674
_
-22.2%
_
Total: Scope 1, 2, 3* (market-
based)
10,149
13,107
_
-22.6%
_
* Categories included in emission calculations since 2022 (additionally in scope 3: cat. 1, 2, 5). Data
without * is data for which the report was prepared in the base year (2020): scope 1 and 2 and
categories 3 and 6 of scope 3.
** In 2023, fugitive emissions from refrigerant leaks were calculated for the first time.
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The volume of total GHG emissions (market-based) generated by the Bank Millennium Group in 2023
amounted to 10,149 tons of CO
2
e. Indirect emissions from scope 2 (market-based) accounted for 54.4%
of the total emissions of the Bank Millennium Group, of which 100% of emissions from this scope was
emitted through consumption of purchased thermal energy. In 2023, direct emissions from scope 1
accounted for approximately 23.3% of the total emissions of the Bank Millennium Group (market-
based), of which 84.1% came from combustion in mobile sources, 14.6% from combustion in stationary
sources, and 1.3% were related to leakage of refrigerants. In 2023, 70.4% of the total calculated
emissions of the Bank Millennium Group came from indirect emissions from scope 2 (location-based),
while 69.2% of emissions from this scope were emitted in connection with the consumption of
purchased electricity, and 30.8 % came from the consumption of purchased thermal energy.
In 2023, emissions related to production of purchased products and services, capital goods and the
management of waste generated as part of activities were calculated, taking into account the same
scope as in 2022. In 2023, the share of indirect emissions in scope 3 (market-based) for the Bank
Millennium Group was 22.3% of the total calculated emissions, and in the location-based approach
this share was 20.3%.
The purchased products and services included emissions related to plastic payment cards and office
supplies, and emissions from them amounted to 33.5% of emissions from scope 3 (market-based
method). The capital goods category includes IT equipment (i.e. laptops, printers, desktop
computers, mobile phones). GHG emissions in this category amounted to 17.1% of emissions from
scope 3 (market-based method). Emissions related to energy and fuels (not included in scope 1 and
2) accounted for 38.3%, and business travel 8.8% of emissions in scope 3 (market-based method). The
waste generated as part of the activities includes paper and cardboard waste, used IT equipment,
metals, batteries, plastic, and GHG emissions related to their management amounted to 2.3% of
emissions from scope 3 (market-based method).
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[GRI 305-5] Due to purchase of Guarantees of Origin of Energy in the amount of 18,063 MWh for
electricity purchased directly by the Bank, emissions related to the purchase of electricity in Bank
Millennium were reduced by 100% [11,375 tons of CO
2
e] and in the Bank Millennium Group also by
100% [12,373 tons of CO
2
e] comparing calculations according to the location-based method (where
the average indicator for Poland is used) to the market-based method (where the energy seller is
known, the seller-specific emission factor is used).
Scope 1, 2 and 3 GHG emissions in tonnes CO
2
e per mPLN of operating income for the Bank
Millennium
Scope of GHG
emissions
Emission volume/mPLN of operating income
[tonnes CO
2
e/mPLN]
Percentage change
2023
2022
2020
2023/2022
2023/2020
Scope 1, 2
(market-based)
1.12
2.57
6.92
-56.4%
-83.8%
Scope 1, 2, 3
(market-based)
1.27
2.81
7.87
-54.8%
-83.9%
Scope 1, 2, 3*
(market-based)
1.45
3.13
_
-53.7%
_
* Categories included in emission calculations for 2022 (additionally in scope 3: cat. 1, 2, 5).
Data without * is data for which the report was prepared in the base year (2020): scope 1 and 2 and
categories 3 and 6 of scope 3.
Scope 1, 2 and 3 GHG emissions in tonnes CO
2
e per employee for Bank Millennium
Scope of GHG
emissions
Emissions volume/employee
[Mg CO
2
e/employee]
Percentage change
2023
2022
2020
2023/2022
2023/2020
Scope 1, 2
(market-based)
1.12
1.51
3.31
-25.8%
-66.2%
Scope 1, 2, 3
(market-based)
1.27
1.65
3.76
-23.0%
-66.2%
Scope 1, 2, 3*
(market-based)
1.46
1.83
_
-20.2%
_
* Categories included in emission calculations for 2022 (additionally in scope 3: cat. 1, 2, 5).
Data without * is data for which the report was prepared in the base year (2020): scope 1 and 2 and
categories 3 and 6 of scope 3.
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Scope 1, 2 and 3 GHG emissions in tonnes CO
2
e per mPLN of operating income for the Bank
Millennium Group
Scope of GHG
emissions
Emission volume/mPLN of operating income
[tonnes CO
2
e/mPLN]
Percentage change
2023
2022
2020
2023/2022
2023/2020
Scope 1, 2
(market-based)
1.17
2.65
7.48
-55.7%
-84,4%
Scope 1, 2, 3
(market-based)
1.33
2.91
8.52
-54.2%
-84.4%
Scope 1, 2, 3*
(market-based)
1.51
3.27
_
-53.8%
_
* Categories included in emission calculations for 2022 (additionally in scope 3: cat. 1, 2, 5).
Data without * is data for which the report was prepared in the base year (2020): scope 1 and 2 and
categories 3 and 6 of scope 3.
Scope 1, 2 and 3 GHG emissions in tonnes CO
2
e per employee for Bank Millennium Group
Scope of GHG
emissions
Emissions volume/employee
[Mg CO
2
e/employee]
Percentage change
2023
2022
2020
2023/2022
2023/2020
Scope 1, 2
(market-based)
1.15
1.42
3.57
-19.0%
-67.8%
Scope 1, 2, 3
(market-based)
1.30
1.55
4.07
-16.1%
-68.1%
Scope 1, 2, 3*
(market-based)
1.48
1.88
_
-21.3%
_
* Categories included in emission calculations for 2022 (additionally in scope 3: cat. 1, 2, 5).
Data without * is data for which the report was prepared in the base year (2020): scope 1 and 2 and
categories 3 and 6 of scope 3.
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Calculation methodology used
Greenhouse gas emission calculations were prepared in accordance with the Greenhouse Gas Protocol
(GHG Protocol), according to the revised version: 'A Corporate Accounting and Reporting Standard
revised edition, GHG Protocol Scope 2 Guidance Amendment to the GHG Protocol Corporate Standard'
and 'Corporate Value Chain (Scope 3) Accounting and Reporting Standard, Supplement to the GHG
Protocol Corporate Accounting and Reporting Standard'.
The calculations include all companies from the Millennium Group. Calculations in scopes 1 and 3
were made taking into account all greenhouse gases, in scope 2 the Kobize and URE indicators relating
only to carbon dioxide CO2 were used. In scopes 1 and 2, all identified emission sources were taken
into account. In scope 3, calculations were made for purchased products (category 1), capital goods
(category 2), energy and fuels (upstream stages, category 3) and waste (category 5) and business trips
(category 6). Category 1 of scope 3 includes only plastic payment cards and office supplies, services
are excluded. In category 2, only IT equipment was taken into account. Categories 3, 5 and 6 include
all identified emission sources.
GHG emissions were calculated separately for Bank Millennium (BM) and the Bank Millennium Group
(GBM), which includes the following companies: Millennium Consulting S.A.; Millennium TFI S.A. (a
subsidiary of Millennium Consulting S.A.); Millennium Leasing sp. z o. o.; Millennium Bank Hipoteczny
S.A.; Millennium Goodie sp. z o. o.; Millennium Service sp. z o. o.; Millennium Telecommunication
Services sp. z o. o. (including 2% affiliated entity Millennium Leasing S.A.) and companies that do not
generate emissions - Piast Expert sp. z o.o. in liquidation, Lubuskie Fabryki Mebli S.A. in liquidation.
In February 2023, the Bank sold 80% of shares in Millennium Financial Services sp z o.o. Life Insurance
Company Europa S.A. and Towarzystwo Ubezpieczeń Europa S.A. After selling 80% of the shares, the
Bank holds 20% of shares of a company currently operating under the name Europa Millennium
Financial Services sp. z o.o. Operational control was adopted as the criterion to determine the
organizational boundaries. Bank Millennium has 100% operational control in the mentioned companies
generating GHG emissions, apart from Europa Millennium Financial Services sp. z o. o. Based on
information obtained from the Millennium Bank Group, it was assumed that the share in the
consumption of materials and utilities being the basis for emission calculations for Millennium
Financial Services sp z o.o. is immaterial.
The scope of emissions reporting according to the GHG Protocol includes:
- direct emissions from scope 1 from the combustion of fuels in own or controlled energy sources:
combustion in stationary sources - heating boilers for natural gas and fuel oil, uncontrolled emissions
(refrigerants) and combustion in mobile sources - vehicles used by companies (LPG, petrol, diesel),
- scope 2 indirect emissions from the production of purchased electricity and heat energy,
- other indirect emissions from scope 3, originating from purchased products and services and related
to energy and fuels (not included in scope 1 and 2), as well as emissions from waste generated in the
course of activities and generated during business trips in means of transport that are not owned or
controlled by the company (such as planes, trains and taxis).
Carbon footprint calculations were performed in accordance with the methodology used in previous
years, taking into account updated indicators. Energy calculations were carried out using two required
methodological approaches, i.e. location-based (using the average emission factor for Poland) and
market-based (using emission factors specific to energy sellers). For scopes 1, 2 and five categories
of scope 3, in 2023 the total CO
2
e emissions (market-based) for Bank Millennium amounted to 9,454.10
t CO
2
e, including 9,439.61 t CO
2
, 7.41 t CH
4
and 7.08 t N
2
O, and for the Bank Millennium Group
10,148.64 t CO
2
e, including 10,132.63 t CO
2
, 8.30 t CH
4
and 7.71 t N
2
O. For scopes 1, 2 and five
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categories of scope 3, in 2023 the total CO
2
e (location-based) emissions for Bank Millennium amounted
to 23,483.42 t CO
2
e, including 23,468.93 t CO
2
, 7.41 t CH
4
and 7.08 t N
2
O, and for the Bank Millennium
Group 25,409.49 t CO
2
e, including 25,393.47 t CO
2
, 8.30 t CH
4
and 7.71 t N
2
O. For data from 2023,
biogenic emissions related to the addition of biofuel to diesel and petrol were calculated. These are
“outside of scopes” emissions which amounted to 99.16 t CO
2
e for Bank Millennium and 111.63 t CO
2
e
for the Bank Millennium Group.
In order to maintain consistency, the calculations were compared with the year 2022. Last year's
calculations included scope 1 and 2 and the same scope 3 categories (1, 2, 3, 5, 6) as in the current
year. As in the previous year, purchased IT services and accessories were not included due to lack of
specific indicators.
Data used for calculations and measurements of 2023 emissions
Fuel and energy consumption is presented in the tables regarding the GRI 302-1 indicator.
Data used for calculation and measurement of emissions for scope 1
Combustion in mobile sources:
Diesel oil, petrol, LPG - data on fuel consumption (in liters) comes from a summary prepared by Bank
Millennium and applies to the Bank and the Group. Fuel consumption data comes from a summary of
fuel card reports. Fuel consumption in Millennium Bank Hipoteczny S.A. was estimated based on the
cost of fuels.
Combustion in stationary sources:
Natural gas - data on gas consumption (in m3) in Bank Millennium and the Bank Millennium Group
were provided by the Bank, based on invoices in the FK (financial) system and their scans, reading
consumption, and for those invoices for which scans do not exist in the system, calculation of
consumption based on known costs and the average price of natural gas known on the basis of invoices
for which the scans were read. Data on gas consumption in Bank Millennium and the Bank Millennium
Group were estimated based on costs.
Heating oil - data on consumption (in liters) in Bank Millennium and the Bank Millennium Group were
provided by the Bank, based on invoices in the FK (financial) system and their scans, reading
consumption, and for those invoices for which scans do not exist in the system, calculation of
consumption based on known costs and the average price of heating oil known on the basis of invoices
for which the scans were read.
Fugitive emissions:
Refrigerants - data (in kg) comes from a list prepared by the Bank, including 15 branches. This list
includes two refrigerants - R32 and R410A (also written incorrectly in the source data as R410).
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Data used for calculation and measurement of emissions for scope 2
Purchased energy:
Electricity - data on electricity consumption (in kWh) in Bank Millennium and the Bank Millennium
Group was provided by the Bank. Calculations of the value of annual electricity consumption are based
on cost and quantitative data (expressed in physical units).
Bank Millennium has a photovoltaic system. The energy obtained from photovoltaic panels is used
on site for own needs, which results in lower demand for purchased electricity. Electricity
obtained from PV installations does not generate GHG emissions in scope 2.
Heat (district) - data on consumption (in GJ) in Bank Millennium and the Bank Millennium Group was
provided by the Bank. Calculations of the value of annual heat consumption are based on cost and
quantitative data (expressed in physical units).
Data used for calculation and measurement of emissions for scope 3
The units of the supplied data are given in brackets.
Purchased products and services:
Payment cards (pcs.) - quantitative data received from suppliers was used to calculate emissions
resulting from the purchase of payment cards. The number of cards issued and cards destroyed was
taken into account.
Office supplies (kg) - calculations were carried out for purchased materials specified in mass units:
printed paper, envelopes, paper and paper rolls for operational needs, cardboard boxes, plastic
materials (stretch foils, checkout bags, etc., packaging for disinfectants) and batteries.
Water (kg, m
3
) - included water purchased in plastic packaging and drinking water from the water
supply network.
Capital goods
IT equipment (pcs.) - emissions were calculated on the basis of quantitative data from invoices
regarding the purchase of individual types of IT equipment: computers, printers, laptops, telephones
and tablets.
Waste generated by activities (kg):
The activities generate sewage (municipal) and waste. Waste is sent for reuse and recycling (paper,
cardboard, metal, plastics, IT equipment divided into neutral and hazardous waste) and municipal
waste, from which the following fractions are separated: mixed waste, paper, metal and plastics,
bio-waste, glass.
Business travels (km):
Air travel - emissions were calculated based on reports relating to the number of kilometers travelled
received from a travel agency that sells airline tickets.
Railway transport - data on the distance travelled was calculated on the basis of reports relating to
the number of kilometers received from a travel agency that acts as an intermediary in the sale of
some railway tickets and on the basis of the costs incurred.
Road transport (bus, taxi, private cars) - for Bank Millennium, data on the distance travelled were
estimated based on realized costs. The distance travelled by private cars was calculated on the basis
of costs, including a lump sum per kilometer (so-called mileage). Bank Millennium does not have tools
to record kilometers travelled during business trips
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Emission factors 2023
Scope 1 emission factors:
Fuels (combustion in mobile and stationary sources) - DEFRA 2023, version 1.1 (published on June 7,
2023, updated on June 28, 2023).
Fugitive emissions - DEFRA 2023, version 1.1 (published June 7, 2023, updated June 28, 2023) and
from online sources.
Scope 2 emission factors:
Location-based electricity - emission indicators for electricity for 2022 published in December 2023
(indicator for data for 2023).
Market-based electricity
Due to the fact that Guarantees of Origin for electricity purchased directly by the Bank were
purchased in the amount of 16,605.30 MWh for the Bank and 18,062.95 MWh for the Bank Millennium
Group, emissions related to the purchase of electricity were reduced in Bank Millennium by 100%
[11,374.63 t CO
2
e] and Bank Millennium Group by 100% [12,373.12 t CO
2
e].
Heat - URE (Energy Regulatory Office); Report "Thermal energy in numbers - 2022" - the latest
available document used in emission calculations.
Scope 3 emission factors:
Category 1: Ecoinvent 3.9.1, Exiobase, DEFRA 2023, version 1.1, data from online sources.
Category 2: Ecoinvent 3.9.1, data from online sources.
Category 3: DEFRA 2023, version 1.1. and 2023 Government Greenhouse Gas Conversion Factors for
Company Reporting Methodology Paper for Conversion Factors. Final Report.
Category 5: DEFRA 2023, version 1.1.
Category 6: DEFRA 2023, version 1.1.
The emission data presented in the "Greenhouse gas emissions" chapter was calculated by independent
third-party companies.
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2.2.3. ENVIRONMENTALLY-FRIENDLY PRODUCTS AND RESPONSIBLE
FINANCING
Bank Millennium Group provides financing for various pro-environmental activities of its clients. Active
measures are also taken to reduce the use of paper in communication with our clients in all lines of
business. Clients may confirm some of the transactions ordered in branches using Mobile
Authorization, which has significantly reduced the quantity of paper used for document print-outs.
Individual customers
Millennium TFI funds
One of the measures implemented as part of the Bank Millennium Group’s strategy is the integration
of ESG factors in asset selection processes in investment portfolios. Given the rapidly growing trend
of European and global investors using sustainability criteria in investment decision-making and taking
into account the bank’s business strategy, Millennium TFI’s product offering was modified. Millennium
TFI transformed three Subfunds separated within the Millennium Specialized Open-End Investment
Fund in accordance with the requirements of Article 8 of the SFDR0F
1
. They promote environmental,
social and corporate governance aspects (as so-called light green products) by including them in the
investment selection criteria and by applying certain investment restrictions. Customers who want to
support sustainability with their investment decisions can now find the suitable products in the
Millennium TFI range.
The Subfunds that satisfy the ESG criteria are available both in Bank Millennium outlets and, out of
concern for the natural environment, through electronic channels, i.e. the Millenet online banking
system and the Bank’s mobile application. Clients may choose from among three Subfunds designed
as funds of funds:
▪ Plan Spokojny Subfund – which invests mainly in global debt instruments.
▪ Plan Wyważony Subfund – which balances investments in global debt and equity instruments.
▪ Plan Aktywny Subfund – which invests mainly in global equity instruments.
In the above Subfunds offer, sustainability (ESG) issues are assessed as a risk to investment value. The
issuers whose strategy is built on good ESG practices may be approached as entities with a lower level
of investment risk and therefore higher investment appeal. Investment risk is assessed within an
internal ESG Risk Rating system and takes into account ESG ratings published by independent agencies
and analysts, issuer reports regarding the ESG principles observed, the type of industry in which the
issuer operates and other public information that may serve a source for the ESG assessment of the
issuer.
Each of the above mentioned Subfunds invests at least 50% of assets in other “green” investment
funds that meet the criteria of the SFDR. Additional limits have also been introduced to limit the
share of funds (instruments) with poor ESG ratings or that are unrated, as well as restrictions for
issuers that fail to follow good practices.
WWF Millennium MasterCard Credit Card
Bank Millennium has been cooperating with WWF Polska since 2008. WWF is an independent
environmental organization supported by more than 35 million people, with a global network active
in nearly 100 countries. WWF's mission is to stop the environmental degradation of our planet and
1
Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability‐related
disclosures in the financial services sector (Sustainable Finance Disclosure Regulation)
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shape a future where people live in harmony with nature by protecting the world's biodiversity,
sustainably using renewable resources, and reducing pollution and waste.
The Bank and WWF's joint initiatives aim to promote nature and climate conservation action.
Beginning in 2022, activities revolve around the slogan "Forest - home for animals, breath for people
and protection of climate." On International Earth Day, in April 2023, Bank Millennium launched a new
card WWF Millennium Mastercard. The card features a new image of a lynx - the largest representative
of the cat family in Europe, which is under strict species protection in Poland. For each main card
issued, the Bank donates PLN 50 to WWF Poland. The Bank also provides additional funds to support
the organization's statutory activities.
Thanks to its virtual form, the goodie eCard is a convenient and environmentally-friendly way of
giving a gift. The card can be set up in just a few moments in the goodie mobile app. In addition, the
goodie app affords access to the electronic versions of the store flyers of many shopping networks
thereby reducing paper consumption.
Offer for businesses
The strategic objective of the Bank Millennium Group, as set forth in the 2022-24 Strategy, includes
active support for decarbonization efforts of the Bank’s clients and granting PLN 2 billion of financing
for sustainable and transformational projects for the clients of the Bank and the Bank’s Group over
the next 3 years.
At the same time, the Bank Millennium Group does not finance new coal mines and coal-fired power
generation projects, except for new projects related to reduction of pollution. These issues are
described in detail in the section entitled “Environmental Policy of the Bank Millennium Group”.
Lending activity
In 2023, we made a loan available for the construction of a photovoltaic installation or power plant.
With our product, we support environmentally friendly solutions, energy transition and, at the same
time, respond to rising electricity prices. The product is available in two options:
- Photovoltaic loan - self-consumption, with which we can finance 100% of the net
construction costs of micro and small photovoltaic installations with a capacity of up to 1
MWp, designed to produce renewable energy entirely for the company's own needs. The loan
amount is a maximum of PLN 2 million.
- Photovoltaic loan - mix, with which we can finance 80% of the total net construction costs
of a photovoltaic installation with renewable energy production for sale and own
consumption, with a minimum of 50% self-consumption. The investment may also involve
purchase and installation of energy storage up to and including 10 MW. The maximum loan
amount in this option is PLN 20 million.
As of the end of March, companies could apply to the bank for a Technological Loan, which offers
funding in the form of a non-refundable technology bonus provided by Bank Gospodarstwa Krajowego.
The Technological Loan is a continuation of the competition known in the past as the Technological
Innovation Loan. It allows companies to obtain funding of up to 70% of the eligible costs of an
investment project involving the implementation of a new technology, understood as any significant
and beneficial change in the process, which was not previously used in the business, and which, at the
same time, improves the characteristics of the manufactured product or provided service. The
deadline for applications ended on 31 May 2023.
For customers seeking financing for green investment projects we have made available an
Environmental Loan. It can be used for investments in energy efficiency, energy savings, including
thermal upgrading of buildings, changing the sources of energy used to more environmentally friendly
ones, and replacing equipment, installations or process lines with more energy-efficient ones.
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The Environmental Loan is a competition funded by the European Funds for a Modern Economy (FENG)
Operational Program. Support under the competition is offered to businesses from the sector of micro,
small and medium-sized enterprise sector (with up to 250 employees) and businesses from the
category of small mid-cap companies (with up to 499 employees) and mid-cap companies (with up to
3,000 employees).
The Environmental Loan is a new form of financing green projects, with support for companies in the
form of a non-refundable green bonus covering up to 80% of eligible investment costs. Applications
for support are accepted by Bank Gospodarstwa Krajowego (BGK). Submission of an application to BGK
is conditional on obtaining a loan commitment letter. Bank Millennium is one of the lending banks
issuing the commitment letters required to obtain the funding. The call for applications in this round
ended on 17 August this year. In 2024, two calls for applications are scheduled for the Environmental
Loan competition.
Millennium Leasing is consistently involved in the financing of energy savings investment projects in
compliance with the Environmental Policy of the Bank Millennium Group and industrial policy.
Millennium Leasing advocates the financing of equipment to generate energy from renewable sources.
Since 2019 Millennium Leasing is particularly active in developing the MilleSun program designed to
finance PV investments. Leasing panels is a solution targeting commercial undertakings poised to
reduce the costs of energy consumption and to modify social awareness when it comes to
environmental protection and keen on building their environmentally-friendly image and ensuring
economic efficiency of their investments.. In the leasing of PV panels Millennium Leasing cooperates
with leading reliable suppliers of these types of installations; it offers safe financing on preferential
terms and conditions and a greatly simplified process to lease environmentally-friendly investment
projects. In 2022, Millennium Leasing launched the financing for heat pumps in the MilleSun Program,
and in 2023 - for energy storage facilities.
In 2023 Millennium Leasing continued to implement the Mój Elektryk program, which guarantees
customers subsidized lease payments for zero-emission vehicles. The purpose of the program is to
reduce air pollution emissions by reducing the consumption of fuel generating emissions in transport.
It constitutes support and an incentive to opt for zero emission vehicles. Millennium Leasing has
participated in the program since 2022. The subsidies are up to PLN 4,000 for motorcycles, scooters
and quads, up to PLN 27,000 for passenger cars (for transporting up to 8 people), and up to PLN 70,000
for delivery vehicles up to 3.5t.
In 2023 the Company launched a pilot Preferential Program for financing environmentally friendly
assets, which it plans to roll out in full in 2024.
The economy’s transition and clients’ implementation of sustainable development policies will in the
future be a growing source of demand for the financing offered by Millennium Leasing. We anticipate
that this growth will pertain in particular to the following:
- investments in energy saving machines and equipment to reduce the quantity and the cost of
electricity used per product unit,
- low emission means of transport supporting the reduction of CO2 emissions in the
transportation of people and cargo,
- technologies for generating and storing energy from renewable sources.
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2.4. FULFILLING THE REPORTING REQUIREMENTS
The Bank Millennium Group has been reporting information on its environmental impact since 2011,
including data regarding the emission of greenhouse gases under Scope 1 and Scope 2 and partially
under Scope 3, gradually increasing the scope of reported data. The knowledge on this topic is
expanded by implementing projects with consulting companies, participating in conferences and
expert workshops (organized e.g. by the Polish Association of Listed Companies) and in the work done
by the Polish Bank Association. In 2023, further work was carried out to prepare the Group to reporting
on sustainability topics in relation to various aspects of reporting required by law and market
standards (including the Corporate Sustainability Reporting Directive (CSRD) and European
Sustainability Reporting Standards (ESRS)).
Bank Millennium is a member of the Sustainable Financing Committee of the Polish Bank Association
and also takes part in the work of working groups of various industry chambers (e.g. the Polish Bank
Association, Polish Chamber of Insurance). Millennium Towarzystwo Funduszy Inwestycyjnych is a
member of the Chamber of Fund and Asset Management (IZFiA), while the Bank Millennium Brokerage
House is a member of the Chamber of Brokerage Houses. The activities undertaken by these
organizations are aimed at developing solutions to facilitate the application of incoming regulations
and standardize the format of the data used.
[GRI 2-27] In 2023 the Bank Millennium Group did not receive information on any case of having violated
environmental protection regulations.
2.5. ENVIRONMENTAL EDUCATION
[GRI 2-24, OWN DISCLOSURE 7]
At the Bank Millennium Group, we are aware of the importance of environmental education and
building awareness around topics related to sustainability in the broadest sense. Our educational
activities are aimed at different types of audiences, with tailored content and message forms.
Internal training
Each ecologically conscious and well-trained employee of the Bank Millennium Group is a sort of an
ambassador who promotes care for the environment and the notion of the planet as a common good.
This is why we attach special importance to employee training. In 2023, we launched a new online
format training course "ESG - Environmental Issues," which is a continuation of the course launched
in 2022. The training is open to all employees of the Bank and employees of companies from the Bank
Millennium Group, and its purpose is to systematize and expand the knowledge of employees in the
topics of sustainability and climate change and add practical knowledge of what measures are taken
by Bank Millennium and what climate action we can take ourselves. As part of this training, employees
also receive information about the ESG Strategy and the organization of the ESG area in the Bank
Millennium Group. The training ends with a mandatory quiz.
The sustainability training program covered also members of the management boards of Bank
Millennium Group companies, as well as selected managers and employees associated with the area
of sustainable development. In May 2023, the Management Board of Bank Millennium participated in
a workshop on the green classification of financial assets taking into account business practice and
EU taxonomy requirements. In September 2023, the management boards of Bank Millennium and
Mortgage Bank, as well as selected managers, participated in a workshop on ESG risk management.
All Management Boards of Bank Millennium Group companies and selected managers and experts
participated in a comprehensive ESG training program organized from September to October 2023,
which covered, among other things, key ESG regulations, sustainable financing, ESG risk management,
organization of the ESG process and supervisory requirements in this area.
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Unique proprietary initiatives - Eco index
Environmental and climate change awareness can also be built through other initiatives. An excellent
example is the activities organized around the annual event of the launch of the “Regional Eco-
Innovation Potential - Millennium Eco-Index” Report developed in cooperation with substantive
partners: the Patent Office of the Republic of Poland, AGH University of Science and Technology in
Kraków and the Warsaw School of Economics, and had its first edition in October 2022. In April 2023,
the Millennium Eco-Index 2022 report was published, expanded with comments from representatives
of business, NGOs and local governments, as well as scientists. In November 2023, Eco-Index 2023 was
released with new statistics. Bank Millennium developed the eco-innovation index in order to see how
involved Poland’s regions are in green transition, as ecology, conservation of the environment and
innovations become increasingly important in voivodship development strategies. The report helped
to create a platform for discussing the importance and development of green innovation in Poland
and also aimed to encourage cooperation, since, as our study shows, cooperation is conducive to eco-
innovation. Bank Millennium's active activities popularizing eco-innovation activities create a unique
ecosystem for eco-innovation. The study showed that environmental regulations can stimulate
innovation and that the implementation of environmental solutions, especially innovative ones, is an
investment that pays off in the long run.
The Millennium Eco-Index consists of four sub-indices, developed on the basis of 17 variables. The
idea behind the selection of variables was to take into account the wide range of economic and social
activities that make up the eco-innovation process, as well as environmental awareness, which, in
the opinion of the authors of the Millennium Eco-Index, is conducive to the eco-innovation process.
The need for a broad discussion of eco-innovation is evidenced by the fact that the results of the Eco-
Index in both the expanded 2022 edition and the 2023 edition were debated among experts at
prestigious events including the international scientific conference “Circular economy - rational
management of resources" organized by the Institute of Mineral Raw Materials and Energy Management
of the Polish Academy of Sciences in Racławice, the Edu Offshore Wind Educational Career Fair in
Gdańsk, and the European Economic Congress in Katowice.
The 6th edition of the Family Business Forum, a joint initiative of Forbes magazine and Bank
Millennium, was another excellent opportunity to create ESG awareness, this time among business
clients. In this year's edition of the project, organized under the slogan "Where to get the impetus for
growth in times of economic slowdown?" Bank Millennium experts shared with companies its
knowledge of how to build competitiveness of companies through projects supporting green
transition. Bank Millennium experts have also authored articles in Forbes devoted to green transition,
EU funds, eco-financing of investments and eco-innovation.
Networking at conferences and industry meetings
Another popular channel for environmental education at Bank Millennium is business meetings. Bank
Millennium experts were guests at the 16th National Family Business Convention U-BIRTH in Kraków
in November 2023, participating in debates and lectures on green financing, entrepreneurial
development in the era of green transition and changing legislation related to sustainable
development. In December 2023, a conference with speakers from Bank Millennium “Green Transition
and the Competitiveness of Enterprises" was held at the DSW University of Lower Silesia, being a
meeting of entrepreneurs, local government officials and scientists, combining the world of business
challenges with creativity, ecology and social responsibility. Bank Millennium experts shared their
knowledge on the topics of key aspects of green transition in the context of corporate competitiveness
and the potential of family businesses in the era of digital, green and industrial transition, and eco-
environment of innovation.
Webinars
Bank Millennium's EU Funds Competence Center held a webinar in July 2023, available on YouTube,
about the Environmental Loan with a non-refundable environmental bonus, as a form of subsidy for
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companies that plan to invest in improving energy efficiency using new technologies. Bank Millennium
has made this form of financing available to customers in the corporate banking segment in
cooperation with Bank Gospodarstwa Krajowego implementing the grant project under the European
Funds for Modern Economy 2021-2027 Program.
[GRI 2-28] In partnership with the CFO Club (an initiative set up by the ICAN Institute aimed at those
in key finance positions) during a webinar entitled "CFO's Participation in the Implementation of ESG
Strategies," the director of Bank Millennium's Sustainable Development Department discussed
companies' new responsibilities related to the CSRD and the role of CFOs in implementing ESG
strategies and reporting on sustainability issues.
Activities related to the UN Global Compact Network Poland
Bank Millennium participates in the Climate Positive Program, run by the Polish branch of the United
Nations Global Compact.
In 2023, the UN Global Compact Network Poland and the Institute for Responsible Finance, in
cooperation with the Ministry of Development Funds and Regional Policy and the Ministry of Finance,
published the report "Green Finance in Poland 2023," which was presented at the European Financial
Congress in Sopot. The publication features commentary by Joao Bras Jorge on the bank's commitment
to sustainability, in addition to expert and academic texts in the ESG area.
Environmental education in cooperation with WWF Polska
Bank Millennium has been cooperating with WWF Polska since 2008. The joint initiatives aim to
promote nature and climate conservation action. Beginning in 2022, activities revolve around the
slogan "Forest - home for animals, breath for people and protection of climate." In 2023, WWF
organized a special educational webinar for Bank Millennium Group employees. On International
Volunteer Day, which falls on 5 December, they were able to learn about simple and effective ways
to save the planet. A WWF expert explained why some initiatives make sense, while others, in which
we often put a lot of effort, are not worth undertaking. The issue of ecological debt and programs in
which WWF is involved was also raised.
For more information on cooperation with WWF Poland, see Chapter 2.2.3. “Environmentally-friendly
products and responsible financing”.
Internal pro-environmental campaigns
Under the tenet that pro-environmental behavior and everyday choices are at least as important as
the environmental solutions implemented in buildings, the Bank runs numerous educational
environmental campaigns. The organization is consistently building environmental awareness among
its employees, clients and business partners by running the following campaigns, among others:
▪ Push Yourself, Not the Button Campaign - encouraging head office employees in Warsaw to
use the stairs instead of the elevators. All of the elevator banks in the head office have posters
advancing the campaign for leading a healthy lifestyle and choosing the stairs instead of the
elevator as they move about on a daily basis. On top of the fundamental goal of building the
well-being of employees, this campaign also aimed to minimize electricity consumption.
▪ “Let’s turn off our signs” campaign During the winter months of early 2023, the campaign
initiated in the autumn-winter period of 2022 to turn off light boards in its branches and
offices in Warsaw, Wrocław and Gdańsk after business hours continued. This is how the Bank
encouraged everyone to save electricity and reduce its consumption given the potential
difficulties on the energy market. The campaign is also an expression of the Bank’s continued
concern for the environment and the need to manage resources reasonably. This campaign
was widely promoted in the media, through articles and with a video. It has been calculated
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that the electricity saved through this campaign is equivalent to the electricity needs of 62
households.
▪ “We save electricity” campaign – across the entire chain of its outlets, the Bank conducted
an educational campaign reminding employees of the small things they can do every day to
reduce electricity consumption. We additionally placed stickers reminding them of these
actions in all social areas and toilets.
▪ Collection of electric waste and expanding the reach and duration of the environmental
charitable campaign involving the recycling of plastic bottle caps collected in the Bank (the
non-governmental organization cooperating with the Bank sells them as a recyclable raw
material and it designates the proceeds obtained to help the poor).
▪ A waste segregation process is in place in all offices and branches Advising on changes to
waste collection (marketing campaigns, new containers for selective waste with the
appropriate logo). The new bins are located in the main corridors on each floor of the office,
and bins for paper and mixed waste are also found in kitchen annexes.
▪ In addition, the Bank segregates other waste, e.g. expended batteries and it collects
electrical waste. In 2023 the Bank collected 150 kg of electric waste, 100 kg of batteries
and 67 kg of plastic bottle tops delivered by Bank employees.
▪ The coffee shop on the premises of the Bank’s Head Office in Warsaw has discontinued the
use of plastic straws, and plastic packaging for sandwiches and cakes, while the staff
recommends using your own mugs and dishes, and a fee is charged for disposable cups.
▪ Bicycle transport is encouraged and the infrastructure for cyclists is being expanded
(additional bicycle racks and showers). Employees received the possibility of using another 3
showers installed in Gdańsk, and 23 bicycle racks have been put into use in front of the Gdańsk
headquarters.
Climate education in Millennium Docs Against Gravity
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Millennium Docs Against Gravity is the flagship cultural project supported by the Bank. It is the largest
film festival in Poland and a major documentary film festival in the world. Bank Millennium has been
a partner of the Festival for 18 years.
The festival informs viewers of many phenomena transpiring in the contemporary world and educates
them through the films shown, meetings with artists and heroes and debates on the important topics
presented on the screen. It discusses many important questions, from ecology to climate protection
and environmental conservation, through diversity, politics, psychology, human rights, art (also avant
garde), pop-culture, to family relations.
The topic of protection of climate and the natural environment, including forests that are critically
important in combating global warming, is reflected every year in one of the most important festival
sections: “Climate for Change”. During the festival we present the most recent documentaries from
across the world illustrating the burning problems related to the climate crisis and the measures that
are undertaken in this respect.
For many years, driven by its commitment to the planet, Bank Millennium promotes protection of the
environment and increased eco-awareness; this is why in 2023, for the purposes of the festival, it
prepared an exceptional advertisement, which discusses the values that guide it as an institution. The
spot was aired during the 20th edition of the Festival before films in cinemas and online:
https://www.youtube.com/watch?v=ssNEvt7Nxtk
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BANKING INSPIRED BY PEOPLE
Bank Millennium’s priority is to ensure that all of its clients have full access to its services. The Bank
endeavours to support clients in the fulfilment of their plans and truly make their day to day life
easier. Bank Millennium has been working on removing infrastructural, digital and physical barriers in
access to financial and non-financial services by introducing solutions based on cutting-edge
technologies.
3.1. INNOVATIVE SERVICES
[GRI 3-3, OWN DISCLOSURE 4]
Clients are increasingly used to digital solutions, so they expect to be able to do most things through
remote channels. The Bank is therefore focusing on the digitalization of its services, with a strong
emphasis on omni-channel solutions.
Bank = mobile application
The mobile application has become a special area of activity since it is acquiring new users from
month to month. For most clients, the application is the main contact channel with the bank.
Currently, the Bank boasts more than 2.7 million retail customers active in electronic channels, of
which nearly 2.5 million log in to the bank on mobile devices. The application has positive user reviews
on Google Play, App Store and AppGallery.
3. SOCIETY
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That is why the Bank has been steadily expanding access to financial services through mobile banking
in line with the mobile-first model. We are expanding accessibility to daily banking services and
credit, deposit and investment products. New customers are able to open an account directly in the
application via a selfie.
Bank Millennium is one of innovation leaders on the Polish market. Our clients can choose from various
payment methods without a card or wallet, using their phone, watch or wristband. They can use HCE,
Apple Pay, Garmin Pay, Fitbit Pay and BLIK contactless payments. In 2023, we supplemented this
offering with Google Wallet, expanded the availability of such solutions, including making BLIK
contactless payments available to new customer groups (children and micro-businesses), and
organized activation campaigns. Customers can also withdraw cash from ATMs using a BLIK code.
We are where our customers are, which is why we provide convenient and secure online payment
methods. The Bank's customers can pay for online purchases with a BLIK code, by debit card and by
defined transfer. In 2023, Bank Millennium, together with the Polish Payment Standard, continued
work on a new service in the area of deferred payments - BLIK Płacę Później. Customers who buy
online can take advantage of a shopping refund program.
In 2023, customers gained additional BLIK services based on transfers to a phone number. They can
more easily settle accounts with relatives and friends thanks to the BLIK transfer request and the
split-the-bill functionality.
Bank Millennium has also been the most versatile organization on the Polish financial market in terms
of implementing open banking solutions. The Bank offers the option of aggregating accounts and
ordering transfers from other banks; it also uses open banking in sales and acquisition processes
(opening individual and business accounts).
More than a bank
Online access to the bank’s products Access is definitely not enough: clients want something more.
This is why, for several years now, Bank Millennium has been adding additional functions (VASs) to its
digital channels. We started with a very easy top-up of prepaid phones and an innovative motor
insurance buying process, gradually adding more services such as travel insurance with the innovative
“Travel Assistance” option, buying tickets for public transport, paying parking fees, automatic
motorway payments or even buying cinema tickets and online service codes directly on the bank’s
application. Soon Bank Millennium customers will also gain access to a currency exchange service
through electronic channels.
In both the mobile app and online banking, the MilleUrząd section is available. Currently, the
customer will find applications for benefits Family 500+ (800+), Good Start 300+, RKO and nursery
subsidy. Some applications are also available in Ukrainian. The Bank’s clients can use digital
confirmation of identity as part of the Millennium ID service, which operates on the basis of mojeID.
Customers can also register a sole proprietorship through the bank. We have integrated our systems
with the mObywatel application. Customers can confirm their identity in this application by logging
into the bank. At our facilities we honor identity documents issued in this application. Customers will
soon gain the ability to apply for disability benefits.
Excellent UX
Customer experience is increasingly what determines the advantage of a solution over others. That is
why the Bank involves its clients in the development process of designing digital solutions. The
solutions that clients use on a daily basis in the mobile application and online banking system are also
continuously improved. In electronic channels, the Bank is gradually abandoning its “institutional
face” and adapting the fin-tech approach, simplifying not only communication based on the plain
language principles, but also shortening processes. The bank has teams specializing in UX and UI
design and UX writing specialists. For more than ten years now, the Bank has had a UX Lab, where
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researchers conduct in-depth analyses, user interviews and test new solutions. Clients are always at
the center of new solutions – all projects are inspired by their needs, habits, their language and the
world surrounding them.
Offer in electronic channels for micro-businesses
For years Bank Millennium has blended innovation with designing convenient services in order to
expand its offering for clients running a business. It gives them tools to support them in building a
modern competitive business.
We allow customers without an existing Bank relationship to open a business account remotely, as
well as the aforementioned process in which they can set up their own business and business account.
The application is simple and transparent, more difficult concepts are properly explained and the
client can also receive expert support through a chat with a screen sharing option.
The Bank launched a fully remote process of applying for a business cash loan and the possibility to
submit an application and receive a credit decision online for loans with a de minimis guarantee.
The businesses that wish to accept contactless payments from their customers can use the Millennium
POS application. The application turns a smartphone into a terminal for accepting payments and there
is no need to order additional devices. This solution is especially convenient for entrepreneurs who
travel to their customers.
In 2023, Bank Millennium, together with an external partner, released a powerful tool that supports
small business owners with bookkeeping and cost control. We integrated the platform with online
retail banking - the customer logs into the platform the same way they log into their corporate bank
account.
A currency exchange and a payment gateway with an online store will also soon be available to
businesses.
New solutions for Corporate Banking clients
We focus on the provision of comprehensive solutions based on modern technologies and on the
digitalization of business processes. We develop digital channels and electronic document circulation
paths.
We develop and integrate products that satisfy the needs of our clients and reinforce their positive
experiences.
In May 2023, Bank Millennium released a new mobile application for business and corporate customers
- Bank Millennium for Business. Fully digitized cooperation with companies is one of the bank's
strategic goals, with a convenient mobile app as a key component.
The new mobile app was designed using the best practices we use for retail customers. The result is
a user-friendly application, with a unique UX, ready to handle large volumes of data, both for small
business owners and large corporations with extensive financial departments, including local
government units or government agencies, even the largest ones.
Bank Millennium for Business is the best-rated app in Poland when it comes to banks' mobile apps for
this customer segment (Google Play 4.6; App Store 4.3).The application was also in the finals of 2
competitions:
• Informa Banking Tech Awards In the category of Best Use of Technology in Corporate Banking.
• Fintech Awards
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Loans
The offer of environmentally friendly products and responsible financing for Corporate Banking
customers is described in Chapter 2.2.3 Pro-environmental Products and Responsible Financing.
Factoring and trade finance
In the factoring area, we have implemented solutions that streamline and speed up the processes
involved in reverse factoring transactions, and have made changes that make reverse factoring more
attractive. We have introduced the possibility to apply along with the loan for an additional factoring
limit. Thanks to this we maintain an optimal financing structure, increase income and seal the
transaction structure.
In the case of letters of credit and guarantees, for example, we have introduced the possibility of
settling the payment of an import letter of credit with funds from reverse factoring, and in the
transaction system we have introduced functionalities that speed up the process of preparing the
content of the guarantee and digitize the transaction documentation. In the Trade Finance Module in
electronic banking, we increased the security of transactions by introducing an anti-virus program that
scans attachments added by customers.
Transaction banking and electronic banking
We consistently develop and make improvements so that customers can manage their company's
finances even more efficiently and conveniently. In 2023, we carried out further implementations in
electronic banking and expanded the availability of payment services.
New mobile application
We have provided our customers with a brand new mobile application for Android and iOS. We
designed it completely from scratch using best practices. The construction of the new application was
preceded by research and user testing to understand the needs and differences in the use of the
application by large and smaller companies and their managers. We have created a unique-quality
user-friendly application, with a new design focused on user convenience, with strong customization
capabilities.
It is possible to log in to the new business application biometrically. It is ready to handle large amounts
of data and is aimed at both small business owners and large corporations with extensive financial
departments. In the application, multiple accounts can be managed simultaneously, in a single panel,
and permissions for users can be assigned flexibly, according to the needs of the job.
The application informs the user of a number of events on the account, including account receipts,
blockages, payments awaiting authorization. The simple interface reduces the operations’ execution
time. Business partners can be instantly checked against a white list of VAT payers. In addition, one
can easily generate confirmations and statements in the app, which can be sent by email, Whatsapp,
Messenger, Viber or any other messenger. Payment management is simple; users can authorize
payments quickly and securely. There are two tiles on the main screen - authorization and rejected
transfers, which allow you to handle these operations right away. Payments that are pending
authorization can be highlighted and confirmed by the user with a single click. One click is also all it
takes to accept a whole bunch of orders.
Thanks to the available PUSH notifications function, users can receive notifications of, among other
things, new transactions awaiting authorization or rejected transactions.
Customers can order foreign transfers in all currencies to IBAN accounts to countries outside the
European Economic Area and SEPA transfers. It is also possible to repeat the transfer from the
operation history. This makes it easier for them to order a payment, for example to the Tax Office.
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The application shows a full history of orders, who entered, modified and authorized them before a
given user, which is especially important for large companies with multi-level transaction approval
structures.
Customers can handle multiple companies in the application without having to log in again. They
make their selection when they first log in from the start screen and have access to a view of each
of their businesses.
The mobile application also features the Millennium Forex Trader currency exchange service, which
allows you to conveniently and quickly exchange currencies, check current quote rates, set selected
currency pairs on the screen and check exchange history.
Users can personalize the screen according to their needs and decide how the page looks after
launching the application, they have the ability to rearrange and hide elements, add quick shortcuts
like domestic transfer, foreign transfer, VAT, history, and they can also set the so-called dark mode.
The application offers context-sensitive help - the system prompts for possible scenarios of use, e.g.
in terms of parametrization of the home screen view and ways of selecting payments for
authorization.
New functionality in the Document Module in Millenet for Corporates
We have released another functionality in the process of digital document exchange between the
customer and the bank. In the Millenet for Corporates internet banking in the Documents Module, we
have added a SEND tab. The new functionality allows customers to initiate the transmission of
documents to the bank in pdf format. Documents are subject to automatic verification of qualified
signatures, if any. Once the documents are received, a bank employee can approve them and forward
them for implementation, or return the process to the customer with a request for completion.
Documents are processed fully electronically without the need for hard copies, significantly reducing
processing time and carbon footprint.
New type of identity document mObywatel (mDowód)
In line with regulatory requirements, as of 1 September, we introduced the possibility of confirming
a customer's identity on the basis of mDowód. The electronic mDowód allows confirmation of identity
without the customer having to show other identity documents.
Expansion of the network of deposit machines to include Euronet and Planet Cash machines
We have expanded the map of available deposit machines for corporate customers. Currently,
customers can deposit cash additionally at 3,300 deposit machines in the Euronet network and at
2,000 Planet Cash network deposit machines in Poland. The service is available to any bank customer
with a debit or charge card. Euronet and Planet Cash network machines are available in the most
convenient locations, such as gas stations, popular chains and shopping malls, branches of selected
banks as well as other locations such as airports, train stations and subway stations.
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3.1.1. OFFER DESIGNED TO MEET CLIENTS’ NEEDS
[GRI 3-3]Bank Millennium and the Bank’s Subsidiaries offer products and services to improve their
clients’ living conditions, facilitating management of their finances and savings that are also
environmentally friendly. Environmentally-friendly products are described in the section entitled
“Environmentally-friendly products and responsible financing” while other solutions are described in
section“3.1.3. Supporting clients in running a business”.
The Bank’s purpose is to provide convenient solutions that really make
clients’ lives easier and help them achieve their financial targets. This
approach is illustrated by Millennium 360°– A personal account present in
the bank's offering as of April 2022.
The Millennium 360° Account offering is universal and designed to address
the needs of various client groups, irrespective of their age and income.
More and more Poles are using online banking on a daily basis. Surveys1F
2
show that over 80% of Poles
use mobile banking regularly, while almost half of account holders have not visited a branch for more
than six months. For 41% of Poles, convenient online banking is one of the two leading criteria for
selecting an account, next to the absence of account fees. A Millennium 360° account – a free-of-
charge account combined with a wide range of personalized services in a mobile super-app response
to the client expectations.
With the new account, the Bank continues its strategy of developing services inspired by clients,
developing the mobile super-app supporting clients in many aspects of their daily lives and
implementing hyper-personalization. All elements of the new offering have been created on the basis
of extensive research into customer needs and leading trends.
A Millennium360° account is unconditionally free. Moreover, after a simple condition is satisfied (5
payments via a card or BLIK, or 1 payment for people 18-26 years of age), the debit card as well as
BLIK contactless payments are also free, and no commission is charged for withdrawals from all ATMs
in Poland and abroad. This means that clients who have problems with mobility (older persons or
disabled persons) may use ATMs in convenient locations without incurring fees for withdrawals from
third party ATMs. Always unconditionally free are domestic transfers in PLN, standing orders and
direct debits and BLIK transfers to a phone number.
Clients seem to appreciate the Very Helpful Package, offered in conjunction with the 360° Account,
under which they can use home repair, medical or IT assistance services. Clients whose finances do
not suffice to pay for doctors to make house calls may benefit from them in the event they or their
child fall ill. This package also provides the assistance of a plumber or an electrician or the repair of
equipment such as household appliances, radio and television equipment, smartphones and tablets.
When selecting an account with the Very Helpful Package clients can take advantage of 7
interventions a year. The package is free of charge for 3 months after opening the account.
An important new feature of the account is currency services. Under the currency limit, the customer
can pay with the account card in any currency without the bank's margin for currency conversion of
up to PLN 1,000, at an attractive rate of the payment organization. The Currency Package, on the
other hand, which customers can conveniently enable for themselves in the mobile app, priced at
PLN 9.90 per week, includes unlimited currency transactions at the payment organization's attractive
rate, with no additional bank margin for currency conversion.
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The Bank continues to develop its online services, launching services that support daily needs of the
clients. It combines the goodie purchasing platform with electronic banking, proposing the Shopping
Cashback service, with a personalized presentation of offers of shops, a higher level of cashback for
Millennium 360° clients and presentation of the cashback amount in the electronic banking system.
With younger clients in mind the Bank’s offer also contains the 360° Junior Account for clients who
have not yet turned 18. As it is endeavoring to help them take their first steps in the world of finance,
the Bank does not charge fees for account handling, while their debit card and withdrawals from ATMs
are free of charge provided that they execute at least one payment a month using a card or paying
by BLIK. Children aged 7 to 12 may use a mobile application and account card for the 360° Junior
Accountdesigned to meet the needs of the youngest users. These modern tools help introduce children
to the world of finance and teach them how to use technology safely.
3.1.2. FINANCIAL INCLUSION
[GRI 3-3, FS14] According to “Social Impact Principles” of Bank Millennium Group our direct involvement
in the implementation of the Sustainable Development Goals of the United Nations, is reflected in
the strategic activities of the Bank Millennium Group, focused on finding innovative and integrating
(preventing exclusion) products and distribution channels, and in the approach to customer service.
Our goal is to provide products and services that promote counteracting social exclusion, including
providing support to a part of society with fewer opportunities to use digital banking solutions, as
well as to promote access to financial products.
The Bank’s purpose is to dismantle digital and physical obstacles to financial and non-financial
services. The bank's customers can use mobile devices and computers to access the bank's services,
but also a number of additional solutions, such as in the mobile application, customers can buy public
transportation and parking tickets, pay for motorway travel without having to stop at the gates. The
electronic banking system also allows clients to use digital identity and engage in remote contact with
Polish government offices. The Bank is striving for all our clients, including clients with disabilities to
have convenient access to financial services. That is why many facilities have been implemented for
blind and visually impaired people and people who use wheelchairs for their mobility.
▪ Bank Millennium’s website, the Millenet internet banking system and the Bank
Millennium mobile app are continuously being adapted to meet the needs of blind
and visually impaired individuals. The websites are written in simple and easily
understandable language for the user and may be read by automated text readers. A
visually impaired user can use the website with a keyboard - the mouse is not needed
to navigate the portal. Moreover, the site has a text zoom feature and is designed for
high-contrast reading. Bank Millennium is one of the first companies to begin adapting
its website to the needs of people with disabilities.
▪ The websites and all client communications are written in simple language that is
easily understandable for the user and may be read by automated text readers. The
content is created in accordance with the plain language principles and the plain
language index (PLI) is monitored on an ongoing basis. For digital contents, the
standard PLI is at 60%.
▪ Users of suitable devices can log into the mobile app with a fingerprint or a face
scan. In 2023, customers also gained the ability to confirm transactions ordered on
the mobile app using biometrics. Our mobile application is adapted to the needs of
blind and visually impaired persons owing to its compatibility with access-enhancing
services such as Google TalkBack (Android) and VoiceOver (iOS) that enable the
presentation of information using speech. Clients can also use the assistance of a
chatbot in the Bank’s application. Our automatic assistant available 24 hours a day,
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7 days a week may also serve as a valuable guide to daily banking. Clients can use the
assistance of Milli in Bank Millennium’s mobile application. It is capable not only of
greeting and responding to various questions, it can also perform orders such as
submitting a wire transfer. The bank is working hard on solutions that use generative
artificial intelligence, with the goal of reaching the standards set by market-leading
voice assistants such as Siri and Alexa.
▪ Digital identity and building a digital society. Users of the app and online banking
can access official applications such as Family 500+(currently 800+), Good Start 300+,
Family Care Capital and a nursery subsidy. Some of the data is filled in automatically,
which significantly improves the form completion process. At the end of 2022, the
Bank worked with mojeID to launch Millennium ID, an identity confirmation service.
It is a tool for confirming identity when dealing with public administration and when
purchasing commercial services online. The Bank has also integrated with the
mDowód 2.0 application and is honoring in its branches the electronic identity
document issued through this application.
▪ Bank conducts educational activities in the area of cybersecurity. Communication
is targeted to various client groups, including seniors, teenagers, parents of younger
children, risk groups selected on the basis of risk profiles created in the Bank. On its
website and in electronic channels, the Bank publishes warnings about new methods
used by criminals. In addition to educational activities, technical solutions are also
being introduced to further protect clients against cybercriminals. In Q4 2023, the
bank implemented a solution whereby a bank employee can confirm his or her identity
and verify a customer's identity on the bank's app during a phone call.
▪ Clients taking their first steps in the digital banking area have been able to use the
www.bankmillennium.pl/pierwszykrokonline website since 2020.
▪ Ukrainian citizens can find information in Ukrainian on the bank's website. They
can also use a special hotline number, where they will be served in their language. In
addition, they can fill out an online application for family benefits in this language.
They also receive communications in their language, regarding important matters
such as application deadlines and cyber security warnings.
▪ Children’s app – The Bank made a special version of the mobile application available
to children aged 7 to 12. This app is not only a helpful gadget, but it is also a tool to
introduce children to the world of finance and use technology safely. During
activation the application recognizes the user and adapts the version to his or her
age. The children’s app supports payments by phone or BLIK. It is friendly to the
youngest users and it was designed together with them – it has a simplified menu,
children-friendly language and a made-for-children design. At the same time, it gives
parents total control over a child’s spending, special transaction limits and the option
for a child to block a card, and for the parents to block a card using their application.
The app grows with the child. After turning 13 years of age the version of the app
installed in the birthday child’s phone automatically changes to the currently
available version for people up to 18 years of age offering a greater number of
services.
▪ ATMs and deposit machines – disabled people with movement impairments can use
the numeric keypad instead of function buttons next to the screen, which means that
they do not have to reach too high. In addition, ATM’s number keypad makes it easier
to use the device also by disabled people with vision impairments. After headphones
are connected to the ATM, the user may enter instructions through voice messages.
Additionally, persons with vision impairments may use a special black and white
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screen mode to enhance contrast and the legibility of displayed messages. 100% of
Bank Millennium’s own ATMs are customized to meet the needs of people with
disabilities. As of April 2023, the network of deposit machines has expanded by an
additional 5,000 machines from the Euronet and Planet Cash networks.
▪ Access to outlets with architectural barriers – nearly 70% of the Bank’s branches are
accessible to disabled people. When modifying and upgrading its branches, the Bank
pays attention to eliminating architectural barriers.
▪ Sitting customer service stations accessible to wheelchairs are available at all our
facilities.
▪ Service over the phone – clients using the Bank’s Hotline can use the voice command
feature during the call instead of using the phone’s keypad.
▪ Easier signing of agreements – blind or visually impaired persons or people who
cannot read can still sign an agreement with the Bank on their own in the presence
of two employees of the outlet and – upon the client’s express wish – a witness the
client considers to be a trusted individual. In such cases, an outlet employee can also
read the agreement aloud and/or in the case of customers who cannot write, they
can sign using an ink fingerprint.
▪ Clients with special needs have the right to receive the general terms and
conditions of agreements and bylaws in forms that make it easier for them to
familiarize themselves with their contents, e.g.: a document prepared using a large
font size, an audio file or a file prepared in the Braille language.
▪ Service standards for the disabled – detailed guidelines which are binding on the
employees of all of the Bank’s outlets.
▪ The Bank is also extending the idea of a world without barriers to other areas in which
it is active, i.e. in patronage of culture. During Millennium Docs Against Gravity,
Poland’s largest documentary film festival, cinema films were available with audio
description to make it easier for people with vision impairments to access the
world of culture.
Bank representatives also participate in the work of the Polish Bank Association to enhance the
accessibility of sites and services to people with disabilities.
The Bank constantly monitors the progress in the implementation of initiatives aimed at increasing
the availability of banking services and products and promoting counteracting social exclusion.
Information on progress in implementing these initiatives will be communicated in subsequent
reporting periods.
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Accessibility of the Bank’s services
2023
2022
2021
2020
Number of outlets
374
406
440
477
[OWN DISCLOSURE 1]
% of outlets accessible to persons with disabilities
70%
70%
70%
67%
[OWN DISCLOSURE 2]
Number of franchise outlets
238
229
215
225
% of franchise outlets accessible to persons with
disabilities
43%
40%
40%
39%
Number of ATMs
506
509
480
479
[OWN DISCLOSURE 3]
% ATMs accessible to persons with disabilities
100%
100%
100%
100%
The information indicated above regarding the [FS14] indicator applies to the Bank Millennium Capital
Group.
[GRI FS13] Access to financial services of Bank Millennium Group in areas with low population
density and low economic activity
Access to financial services in areas with low
population density and low economic activity
2023**
2022***
2021***
Change
2023/2022
[%]
Total number of points of access to financial services
(total number of own outlets, franchise outlets and
sales islands in shopping centres)
612
635
655
-4%
Number of access points to financial services in low
population* or economically disadvantaged areas **
135
205
217
-34%
Percentage of the number of access points in low-
population or disadvantaged areas in relation to all
access points to financial services in Poland.
22%
32%
33%
-10 pp.
* The voivodeships with the lowest population density in Poland according to GUS (Central
Statistical Office) data are as follows: Podlaskie, Warmińsko-Mazurskie, Lubuskie,
Zachodniopomorskie, Lubelskie, Opolskie and Świętokrzyskie
** The voivodships with the lowest economic activity in Poland according to the Bank’s Local Data,
are as follows: Lubuskie, Lubelskie, Opolskie, Podlaskie, Warmińsko-Mazurskie,
Zachodniopomorskie, Świętokrzyskie (excluding Pomorskie)
*** The voivodeships with the lowest economic activity in Poland according to the Local Data Bank
are: Lubuskie, Opolskie, Podlaskie, Warmińsko-Mazurskie, Zachodniopomorskie, Świętokrzyskie,
Pomorskie
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In relation to the analysis of reporting data for 2023, the area of low population density is the area
of voivodeships with a population density of less than or equal to 100 people per 1 km
2
based on
statistical data for 2022, while the area of low economic activity is the area of voivodeships with
nominal GDP less than or equal to PLN 100 million based on statistical data for 2021.
3.1.3. SUPPORTING CLIENTS IN RUNNING A BUSINESS
The Group continues to take part in programs to support clients using public assistance.
Guarantee programs from Bank Gospodarstwa Krajowego
Bank Millennium continues to offer financing in the form of: loans, guarantee and letter of credit
facility and reverse factoring, secured by guarantees from Bank Gospodarstwa Krajowego
(BGK).Clients could take advantage of guarantees extended under two guarantee programs:
▪ Biznesmax – available to micro, small and medium-sized enterprises under two types of state
aid: regional aid or de minimis aid.
▪ de minimis dedicated to businesses from the SME segment,
▪ the Liquidity Guarantee Fund addressed to micro, small, medium-sized enterprises and large
corporates,
▪ the Liquidity Guarantee Fund for reverse factoring addressed to SMEs and large corporates.
Guarantee programs implemented in cooperation with BGK were continued on the so-called “Covid
terms” until 31 December 2023:
• Biznesmax guarantees are extended free of charge to support investment and liquidity needs
of businesses, allowing them to obtain a co-payment to the loan interest. The guarantee may
cover revolving loans (including overdrafts) and non-renewable non-investment loans granted
to provide liquidity. In addition to innovative entities, the guarantee is also available to eco-
efficient companies that have implemented “green” solutions.
• In the case of the de minimis guarantee program, no commission is charged, and 80% of
protection was maintained; the term of the guarantee was extended to 75 months for working
capital loans and up to 120 months for investment loans, while the guarantee amount was
increased from PLN 3.5 million to the equivalent of EUR 1.5 million.
At the end of December 2023, due to changes in state aid regulations that will take effect in January
2024, the Businessmax and Crisis Guarantee programs were terminated.
In December 2023, new agreements were signed with BGK to introduce new guarantee programs. In
addition to the de minimis guarantee, which will operate under revised terms and conditions, the
Bank has entered into cooperation with BGK on guarantees offered with funds from the FENG program:
• Biznesmax Plus guarantees are extended free of charge to support investment and liquidity
needs of businesses, allowing them to obtain a co-payment to the loan interest. In addition
to innovative entities - those introducing new products - the guarantee can also be used by
environmentally efficient companies, and those that invest in modern digital solutions. What
is new is the possibility of obtaining a subsidy to the investment loan principal.
• Ekomax guarantees are free guarantees that support SMEs, small mid-caps or mid-cap
companies for thermal upgrades and investments leading to primary energy consumption
savings of at least 30%, resulting from energy audits conducted by the companies.
The financing offer with the above guarantees will be made available in Q1 2024.
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Millennium Leasing support for SMEs thanks to BGK guarantees
The company continued to actively offer leasing agreements secured with a Bank Gospodarstwa
Krajowego guarantee. The offer is targeted at SME sector clients leasing low-emission vehicles,
especially those that are less marketable. In 2023, Millennium Leasing sp. z o.o. had in its disposal a
guarantee facility of PLN 300 million under the portfolio agreement with BGK. This facility was
prepared in cooperation with the European Investment Fund from the Pan-European Guarantee Fund
to support and protect entrepreneurs from the effects of the COVID-19 pandemic.
3.1.4. TOP QUALITY CUSTOMER SERVICE
Bank Millennium continues to implement its strategy to adapt the format and functions of its
branches and remote service to customer needs.
For Bank Millennium 2023 was a period in which it continued to ramp up the accessibility of services
in its remote channels in terms of communication and the ability to execute transactions. Bank
Millennium focused on strengthening its capabilities in terms of client self-service while
simultaneously providing support to employees.
Organizational changes in facilities and support from quality management units, help advisors
exchange information and share experiences. Employees have the space to develop solutions that
support service at the facility, including educating and encouraging customers to use remote channels.
It is education that is the cornerstone in the process of convincing customers of new technologies and
tools that facilitate safe and convenient banking. Relationship managers are focusing on changing
customer habits and shifting from cash to non-cash service.
The Bank combines modern banking methods effectively and in line with clients’ needs through its
mobile application and transaction system with constant access to its highly qualified of branch
advisors and telephone consultants in all its lines of business. The rapid growth of service provided
by remote advisors, also for affluent clients, augmented convenience in access to the Bank’s products
and services.
Bank Millennium does its utmost to ensure that the client’s transition to the world of electronic
services is a positive experience. We also focus on the risks that users may encounter in the digital
world. We want both clients and employees to be well prepared for the new challenges beyond
digitalization. Bank Millennium is implementing projects focused on the customer perspective in the
area of security.
The measures taken secure the needs of our various customer segments. We focus not only on the
ability to choose the contact channel. We work to make sure that each group of customers, who have
different needs and expectations, is properly taken care of. We tailor the language and presentation
to age, level of financial literacy and experience in using state-of-the-art technologies. Employees
and designed solutions help customers comfortably bank and use various services at a time and pace
that suits them. We are working to maintain the synergy between the digital message and the
traditional form of customer contact with the bank. The Bank is making it easier for people with
disabilities to access its services.
Bank Millennium continues its efforts to enhance client satisfaction also in terms of the transparency
of communication and simplifying the language used. We are changing the texts provided to customers
from account opening to information on handling their products.
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Bank Millennium continues its efforts to enhance client satisfaction also in terms of the transparency
of communication and simplifying the language used.We are changing the texts provided to customers
from account opening to information on handling their products.
Building processes and solutions based on clients’ perspective translates into loyalty, satisfaction and
a positive banking experience. According to the results of the internal customer satisfaction survey,
93% of retail clients were satisfied with their cooperation with Millennium, while the level of
recommendations given by retail clients held steady - the NPS score in 2023 was 50 (unchanged until
2022). Corporate customer satisfaction and loyalty declined slightly, with an NPS of 40 (compared to
45 in 2022).
The quality-focused actions undertaken by the Bank have garnered appreciation in the most
prestigious customer service ranking. Bank Millennium took first place in both categories of
Newsweek's Friendly Bank ranking: traditional banking and the remote module. The Bank also came
first in the Gold Bank ranking in the category of best customer service. In Forbes magazine's Company
Friendly Bank ranking, Bank Millennium took second place.
3.1.5. CUSTOMER SERVICE STANDARDS
Bank Millennium has uniform client service standards across all of its contact channels. They are
customized to the type of unit, the tasks fulfilled and the adopted business model. Standards are
available for employees of outlets, teams providing services to Prestige Clients, Corporate Banking
Clients, teams dedicated to the Hotline, electronic communication, the unit handling client
complaints and employees of the Bank’s Head Office. All guidelines are discussed in detail during
preliminary training and exercised in practice.
At Bank Millennium, we are improving our customer service models in such a way that they allow us
to maintain a balance between the customer's needs and the adopted business assumptions, and meet
formal and legal requirements.
We design service models based on the basis of surveys and tests with clients using design thinking,
creative techniques and behavioral economics.
We monitor the implemented standards and models regularly, so we know when and what elements
should change. On this basis, we improve them by adapting them to the changing needs of our
customers and the market environment.
Client Service Standards provide specific guidelines of conduct on how to greet/say goodbye to
clients, talk to clients, present the Bank’s products, clarify doubts and handle clients’ complaints.
The Client Service Standards in force in the Bank’s outlets and hotline are the basis for the scripts
functioning in the Bank for talking with clients about various product groups:
▪ Opening a relationship with a new customer (personal account and accompanying
products)
▪ credit products
▪ savings and investment products
▪ digitalization and self-service through ATMs/CDMs (support for the process of
transforming into branches with automatic cash handling).
Client Call Scripts define the framework of calls with clients on the bank’s products. These scripts
refer to specific parts of client service, procedural and regulatory duties. The service standards are
to limit the risk of unethical sales and providing clients with insufficient information.
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3.1.6. RECOGNIZING CLIENT EXPECTATIONS
Recognizing clients’ expectations is always the first part of each and every project in Bank
Millennium. The outcome of this approach is verifying, and then modifying a process, product,
communication or client service model. Regularly performing this activity makes it possible to
maintain the quality of service at the highest possible level in every service channel and observe
trends on the financial services market.
The results of the research are presented to the relevant business units, as well as at a special meeting
- the CX Forum, which is held every two weeks with selected members of the Management Board. The
purpose of this meeting is to show current information on the evaluation of products and services by
the Bank's customers, as well as to make decisions on improving the customer experience.
In 2023 Bank Millennium conducted quantitative and qualitative research on market trends and
specific product and service assumptions. Projects employing Service Design methodology in which
fully understanding clients’ needs is crucial also provided inputs. These projects contributed to
streamlining service quality and developing the product offering.
Just as in previous years, this research was conducted using samples of retail, corporate and affluent
(Prestige) clients and microbusinesses (Small Business).
Satisfaction and the level of recommendations among retail clients remained very high, with an
NPS score in 2023 of 50 and 93% satisfied clients.
Bank Millennium
2023
2022
2021
2020
2019
2018
2017
NPS ratio *
50
50
51
53
53
51
51
*indicates the willingness to recommend the products and services to clients. The presented data
refer to the Bank’s internal research and pertain to retail clients.
Millennium Leasing cooperates with Bank Millennium to monitor helpline calls on an ongoing basis, in
terms of the volume of calls, quality of service and identifying the reasons why clients call. A
permanent element of the monitoring is a survey, in which clients are able to share their feelings or
remarks directly after their call with a helpline consultant. The information collected and analyzed
is used to continuously improve the quality of customer service on the helpline. The key measures
illustrating progress in this respect include: FCR, evaluation of the quality of the helpline operations
and evaluation of the quality of the consultant’s assistance. At the same time, regular analyses are
carried out to find out the reasons why customers contact the helpline, and customer calls are listened
Quality and satisfaction surveys Bank Millennium
2023
2022
2021
2020
2019
Number of surveys conducted
40
31
56
47
25
Number of Mystery Shopping visits
2 694
3 890
3 854
3 059
2 768
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to. The goal is to develop solutions that will permanently eliminate the root cause of the problem
and the reason why clients to call the helpline with a particular topic. Listening to clients’ voices has
allowed us to reduce the number of incoming calls by 34% in 2023.
3.1.7. COMPLAINTS MANAGEMENT
The Bank's goal is to build the best possible customer experience in the daily use of our services, to
understand their needs and the barriers they face in their relationship with the bank, so that
satisfaction with the service constantly increases. The documents governing the issues related to
complaints are the product rules and the “Complaints Handling Instructions”. The results of this policy
are visible, inter alia in the streamlining of complaints handling processes, the shortening of the time
to examine cases and the empowering of employees who have been trained on the rules of plain
communication with clients.To mitigate reputational, legal and financial risks, the Bank has
implemented internal regulations aimed at ensuring full compliance with the Act on complaint
examination by financial market entities and on the Financial Ombudsman and about the Financial
Education Fund and the Payment Services Act.On 18 July 2023, the Management Board of the Polish
Bank Association adopted “Best Practices for Managing the Complaint Process in Financial
Institutions." They present the ZBP's recommended standards for managing the complaint process by
banks. They seek to unify the approach in the market as to the role and purpose of the units managing
the claims process, the structure, as well as the necessary competencies. The Bank analyzed the
compliance of internal regulations and processes and took adequate adaptation measures.
Clients may submit complaints through many channels: in the branch, by phone, through electronic
banking and by mail. [GRI 2-29] We thoroughly analyze the information about the perceived
imperfections, but also the needs that customers report to us, and use it to improve our products and
processes.Information received from the regulatory authorities (UKNF, UOKiK, PUODO) is also
important to us. Areas where we identify potential nonconformities and risks are analyzed by us and
the findings are forwarded to the Compliance Department for inclusion in the risk map. In order to
reduce the number of complaints and prevent their causes, we work in three areas:
✓ Prevention - we give opinions on the implementation of new products and services at the
stage of their preparation, and participate in process reviews;
✓ Elimination - we identify imperfections in processes and products based on reported
complaints;
✓ Emergency - we work to reduce the impact of unexpected failures on customers, so as to
minimize the number of reports.
Thanks to such efforts, a total of 145 new initiatives were addressed in 2023 as part of the Voice Of
Customer (VOC) complaint cause elimination program, 114 of which we successfully implemented.
They have significantly reduced both the number of complaints received by the Bank and the potential
additional reports that have not been registered thanks to them. Since 2023, the initiative to
eliminate the causes of complaints has been carried out by dedicated individuals within the Quality
Department.
We have taken multiple actions to streamline the complaints handling process to shorten the time
for examining complaints and increase the level of client satisfaction:
▪ We register all complaints (retail and corporate) in the central complaint registry
MilleResolver2, which is used to record and handle claims. In 2023, we have introduced a
number of changes to optimize daily work in the application. In the process of handling
complaints, we use and systematically develop machine learning tools. By streamlining,
automating, expanding and introducing new tools, we are optimizing our processes, resulting
in improved quality of response to the customer and shorter waiting times. This, in turn, has
helped increase customer satisfaction.
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▪ In 2023, we continued the "Direction towards Quality" project, whose main objectives are:
✓ Regular e-mail education for employees responsible for processing client complaints.
✓ Regular workshop to develop plain language writing skills and increase empathy in solving
customer problems.
✓ The monthly qualitative evaluation of responses to complaints in the following terms:
▪ the merits and the solution of clients’ problems
▪ the structure of the information (visual transparency)
▪ crafting sentences in accordance with the rules of plain language
▪ maintaining relations.
▪ In 2023, we conducted continuous monthly monitoring of customer satisfaction with the
complaint process. Research indicates a high quality of the resolution of the customers’
problems:
✓ 79% - Plain Language Index score - PLI for complaint processing units,
✓ 87% - the result of the qualitative evaluation of the answers.
The high quality of problem resolution and response translates into high customer satisfaction
with the complaint process - 86% in 4Q2023 (satisfied and very satisfied). Customers rate
increasingly better:
✓ understandability of responses - 92% in 4Q2023 (satisfied and very satisfied),
✓ completeness of responses - 91% in 4Q2023 (satisfied and very satisfied),
✓ response time - 87% in 4Q2023 (satisfied and very satisfied).
Thanks to the measures taken, in 2023 customer satisfaction with the complaint process
increased by 5% compared to the previous year. The year 2023 is the best since the survey
began.
Client satisfaction with the
complaints handling process in
the Bank
2023
2022
2021
2020
2019
Clients satisfied and very satisfied
with the complaint process
85%
80%
82%
79%
This
research
was not
conducted *
* on account of the operational merger with Euro Bank
▪ We continued the Close The Loop 2.0 program, which involves contacting customers who
commented negatively in a telephone satisfaction survey about the complaint handling
process. The goal is to use the feedback of the customers to improve the products and services
provided by the Bank and thereby increase customer satisfaction.
▪ We continued the "Embrace the Problem" quality initiative. It is designed to support front-
line employees in solving customer problems. Employees periodically receive information on
how to solve the customer's problem at the first contact.
▪ In 2023, we have optimized the process of handling card complaints, thanks to which the
customer receives a refund much faster. At the same time, we have expanded the process of
recovering these funds through the chargeback procedure.
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We also have mechanisms to provide complaint documentation to interested individuals and
institutions in an automated manner.
We forward complaint reports, including daily notifications to experts, to the people responsible for
individual products and processes. This allows the Bank to analyze the quality of services it offers on
an ongoing basis and take optimization and elimination measures.
We also have a broad set of performance indicators and risks from the complaints area. We
periodically report management information on the complaint process to the level of Organizational
Unit Directors, members of the Bank's Management Board, as well as discuss it during meetings of the
Process and Operational Risk Committee and meetings of the Supervisory Board Audit Committee.
Reporting cycles range from daily reports to monthly and quarterly reports.
Group subsidiaries manage complaints on their own. Millennium Leasing has in place the procedure
for submitting and reviewing complaints submitted by the clients. Complaints are registered in a
dedicated Complaints Handling System (SOR), which enables the monitoring of time limits and
reporting in order to improve quality review of these processes. In 2023, Millennium Leasing
maintained last year’s goal of reducing the time taken to process complaints from 25 to 7 business
days. In 2023, the Company has also taken initiatives to reduce the number of complaints it receives.
Millennium Towarzystwo Funduszy Inwestycyjnych (TFI, investment fund management company)
offers its products through distributors of units and does not have direct contact with clients. Clients’
complaints are submitted to Millennium TFI and distributors alike. The Bank reviews complaints
related to client service provided by its employees. When it comes to the quality of products offered
by Millennium TFI, complaints are handled under an engagement from the TFI by the transfer agent
who keeps register of participants and executes transactions pertaining to units.
3.1.8. CYBERSECURITY
The Millenet internet banking system and Bank Millennium’s mobile application were designed in such
a way that they are not only very convenient to use but also very safe.
Certificates and encrypted connections
The usage of encrypted data transmission between the client’s computer and the Bank’s server ensure
the safety of Millenet internet banking. Transmission is secured with a TLS 1.2 protocol. Bank
Millennium employs the GeoTrust True BusinessID /EV SSL certificate issued by trusted certification
authority GeoTrust, which specializes in data encryption and protection. This security ensures data
protection against interception by undesirable persons. This certificate also guarantees that the login
page belongs to the institution to which it was issued. The internet connection with a phone is also
encrypted.
Every PDF document downloaded from Millenet is signed with Bank Millennium’s safety certificate.
That makes it possible to track with ease whether anyone has altered its contents after signing.
Every document placed in Millenet in the section “Information on changes” has a unique checksum (a
cryptographic hash function using SHA 256). Any change to a document triggers a change in the
checksum. Documents containing a checksum are signed using an electronic certificate that utilizes
a time stamp.
Bank Millennium uses four different certificates to sign PDF documents. All of them are characterized
by an identical parameter “O” (Organization) Bank Millennium S.A. and a list of attributes that, when
they appear together, form the unique data of a given electronic signature.
Bank Millennium uses four different certificates to sign PDF documents. All of them are characterized
by the same parameter "O" (Organization) Bank Millennium S.A. and a list of characteristics that, when
present together, constitute the unique data of a given electronic signature.
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Certificates used by Bank Millennium:
• Confirmation of integrity, issued by Certum Digital Identification CA SHA2
• Bank Millennium S.A., issued by Certum Digital Identification CA SHA2
• Bank Millennium S.A. (OU=DBE), issued by COPE SZAFIR - Qualified
Logging into an account
To log into Millenet several data known only by a given client must be provided: the login, password
and selected characters from an identification number. Moreover, we ask clients for additional
confirmation of their login using a password by SMS or Mobile Authorisation. Clients may also choose
a safety icon related to their login. This icon makes it possible to determine whether the client is
logging into the Bank’s website or to a deceptively similar site copied by criminals.
Before a client starts to use the mobile application, it must be activated. The activation process
includes entering the pertinent data known only to a given client and confirmation through an IVR
connection. During the activation process the application is assigned to a given device. That is why
clients must repeat the activation process every time they switch to a new device. In 2023, the
activation process has been supplemented with additional verification in the case of higher-risk users
who are selected by a special algorithm.
Logging into the application is secured using a 4-digit PIN code which clients select on their own. It is
also possible to log in using biometric data if a device supports that option (thumb print, facial scan).
After a short period of inactivity, the customer is automatically logged out of Millenet and the mobile
application.
If a client loses his or her handset with the installed application, he or she can rapidly block the
mobile application in Millenet or through the hotline.
Payment safeguards
Wire transfers and payments submitted in the electronic banking system, or card transactions carried
out remotely, i.e. without a physical presence of the card, must be authorized.
1) 3-D Secure is an additional security measure for online card transactions, for example in
online stores. It protects the buyer’s identity and transaction data. Payments in stores
displaying the Visa Secure or Mastercard Identity Check logo are additionally confirmed by
the client using one of two methods: an SMS Password after logging into Millenet in a new
browser tab or by logging into the mobile app.
2) SMS passwords - are non-recurring free codes which we send to the client’s phone number.
The code in the SMS should be keyed into the designated spot in the payment form and
approved by clicking on it.
3) Mobile Authorization - is a method of approving transactions submitted in Millenet in the
mobile application and some transactions submitted in outlets. To utilize this form of
confirmation clients must have an active application.
4) Confirmation of a wire transfer and payments the application - clients confirm wire transfers
submitted in the application not by using the PIN number to the application but by using the
password to log into Millenet.
An additional layer of protection is provided by fraud prevention and detection mechanisms:
• technical safeguards in the mobile application for both system platforms, i.e. Android and
iOS, implemented in 2023 to prevent the recording of sessions using remote desktop software
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• implementation of an advanced mechanism for real-time monitoring of fraudulent
transactions in the electronic banking SYSTEM and monitoring of customer authentication in
the 3-D Secure service for remote card transactions.
It is also possible at any time to block a card temporarily or permanently in Millenet or the mobile
application. Clients do not have to wait for a connection to the hotline or for an outlet to open.
Dodatkowe zabezpieczenia
In response to current fraud scenarios, the bank has been implementing solutions to protect the
customer and the bank when concluding a cash loan agreement for several quarters. From 2022, the
bank also uses Onfido solutions based on biometrics (the process of opening an account using the so-
called selfie) when establishing relationships with customers.
In 2023, the Bank developed an additional mechanism to protect against a very popular crime scenario
in which a fraudster impersonates a bank employee. The security allows the customer to make sure
that he is talking to a bank employee, and allows the consultant to verify the customer's identity
efficiently in the bank's application during the call.
3.1.9. INITIATIVES TO ENHANCE CLIENTS’ FINANCIAL AWARENESS –
FINANCIAL LITERACY
EDUCATION ON SAFE ONLINE BANKING
[GRI FS16] The problem of fraud or embezzlement in which bank clients are the injured parties pertains
to the entire banking sector in Poland and across the globe. Since client awareness is of key
significance in each such case in terms of safely using online financial services, banks, and that
includes Bank Millennium, intensively educate their clients in collaboration with the Polish Bank
Association and unilaterally, reminding clients about the online risks they face and the need to comply
with security rules. Bank Millennium publishes security warnings and recommendations on the rules
of safety on its website. Whenever the Bank receives information about a new criminal action or a
new method of fraud, it immediately publishes warnings to clients in its portal, in special campaigns
and on social media. Bank Millennium also pursues many preventive measures and responds to every
signal that may be an attempt at deceptively obtaining client information or funds.
The number of fraud attempts using electronic channels remains high since 2020, so the Bank
continues the educational activities. Clients have continuous access to information and video
materials on the bank’s website and in a special tab in the mobile application. As part of the
“Spr@wdzam” campaign, Bank Millennium opened a special page with quizzes on its portal, where
clients can test their knowledge of security issues and learn new information
(https://www.bankmillennium.pl/sprawdzam). The quizzes were supplemented with video clips
imitating a game show format. The films were also published on the bank’s channel on YouTube.
Educational campaigns for clients are delivered using various channels:
• banners on a portal, in the mobile application and Millenet,
• PUSH messages in the mobile application,
• messages in the contact box available from Millenet and the application,
• SMS to clients who are less active in electronic channels.
The campaigns are regularly updated and directed to various audience groups, including seniors,
teenagers, parents of younger children, and also to groups selected on the basis of risk profiles created
in the Bank. We see the need for additional communication with non-Polish-speaking clients, which
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is why we prepare communication in English and occasionally in Ukrainian. Communication plans and
content are created as a result of cooperation between several departments, chiefly the Security
Department, the Electronic Banking Department, the Quality Department and the Client Knowledge
Department. Additionally, we examine clients' needs in this area to best match educational activities
to their level of knowledge and expectations.
Cybersecurity issues are also discussed in other contexts, e.g. when establishing a relationship with a
new client, or when submitting an electronic cash loan application.
Clients may also call a special helpline manned by a team of consultants trained in cybersecurity.
Also available on YouTube is a series of videos featuring children and with commentary from the
Bank's expert, which were created as part of the Bank Millennium Foundation's activities.
Onboarding new customers
All new customers, regardless of how they have established a relationship with the Bank, receive a
series of communications that introduce them to the capabilities of their account, the mobile app
and Millenet, as well as the Bank's offerings. The communication is personalized according to relevant
criteria so that the information offered is of value to the customer, e.g. if the customer has already
started using a particular option, he or she will not receive the message in which it is presented. In
onboarding communications, we also address issues related to the security of electronic channels and
good habits in the context of cyber security.
OTHER EDUCATIONAL ACTIVITIES TARGETING CLIENTS
Corporate Banking
We support companies in their development through educational activities. We provide information
on important changes affecting the conduct of business and offer access to the latest information on
modern solutions and financial management. We share our knowledge during webinars, meetings with
companies, and articles, as well as within the electronic channel Inspiration Zone in internet banking
Millenet for Corporates.
Webinars for Corporate Banking clients
We held two webinars on subsidy competitions in which we are a partner bank - a technological loan
and an environmental loan with internal as well as external experts, and a webinar with the bank's
chief economist, Grzegorz Maliszewski, on the outlook for the economy in 2023.
Each event was attended by more than 100 people, or about 70% of all those registered. The great
substantive value for our clients can be seen in the numerous questions and the long Q&A sessions.
Inspiration Zone in the Millenet for Corporates transaction system
In the Millenet for Corporates transaction system, customers have access to the Inspiration Zone - a
section where we publish useful information and materials in various fields. In 2023, we published
articles devoted to, among other things:
• current macroeconomic analysis,
• available public aid to companies,
• organized events for customers,
• cyber security.
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Cooperation with the CFO Club of the ICAN Institute
We have been engaged in a long-lasting cooperation with the CFO Club of the ICAN Institute. The CFO
Club is a development and networking initiative that brings together CFOs of companies operating in
Poland. Representatives of companies can participate in both webinars and in presentations during
onsite meetings. The CFO Club offers access to current knowledge and serves as a platform for sharing
experiences and networking. The topics discussed during the meetings are related to the most current
challenges facing CFOs and those responsible for finance in the company. In 2023, the subjects of the
meetings included:
• modern methods of financial management,
• data analytics and artificial intelligence,
• ESG strategy,
• effective cooperation and communication.
Experts at the meetings included the Bank’s representatives and experienced practitioners in their
fields. The Club currently has more than 900 members. The webinars and meetings were very popular
with clients. On average, about 100 people attended the webinar.
Collaboration with Forbes Magazine - Family Business Forum
As part of the 6th edition of the Forbes Family Business Forum – a joint initiative of Forbes Magazine
and Bank Millennium – 9 meetings with entrepreneurs were held across Poland. It is a regular annual
event bringing together family businesses. Bank Millennium has been the Strategic Partner of the
Family Business Forum since 2018. During this year's series of meetings, a lot of time was devoted to
the necessity of applying the principles of sustainable development and the importance of investments
in this area, among others, taking into account financing under EU support.
Bank Millennium as an event partner for companies
In 2023, we were a major partner of, among others:
• conference entitled “Green Transition and the Competitiveness of Enterprises" organized at
the DSW University of Lower Silesia in Wrocław. It was a meeting of entrepreneurs, local
government officials and scientists, during which presentations were made on key aspects of
green transition in the context of corporate competitiveness, including, among others, a
presentation by the Bank's Expert on "Financing Green Technologies in the Energy
Transition."
• The 16th National Family Business Convention U-RODZINY, organized by the Family Business
Initiative under the slogan "Invention and Innovation in Family Businesses." The debates with
the participation of the Bank’s representatives showcased the potential of family
entrepreneurs and discussed key issues concerning the clash between family businesses and
the harsh business reality - digital transformation, the green revolution, succession, as well
as the implementation of innovation and eco-innovation.
During the 31st conference of the Polish Corporate Treasurers Association PCTA, we led a workshop
on cyber security and fraud prevention. We were also a partner of the European Economic Congress
in Katowice, where discussions included the economy's impact on the environment and climate,
prospects for economic development, the green transition of the power sector and industry, and the
raw materials crisis.
Bank Millennium's proprietary debate entitled"Eco-innovation" touched on a number of topics relevant
to the development of eco-innovation in Poland, including how to make innovation in companies,
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institutions and local governments have a real impact on the environment while maintaining business
efficiency. A Bank’s representative also took part in the debate "Family businesses - problems of
succession."
Client satisfaction surveys
In the third quarter, we conducted our annual client satisfaction survey in the corporate banking area.
In the survey, which lasted for several weeks, corporate banking clients answered questions regarding
their assessment of products and service quality. As many as 95% of our customers are very or rather
satisfied with their relationship with their relationship manager. The high evaluation of our consultants
is noteworthy, since as many as 99% of our clients are very satisfied or rather satisfied with their work.
Individual clients
In 2023, the Bank continued its regular meetings with clients , which took the form of webinars. The
main audiences were customers of the Prestige and Private segments and a selected group of
customers of the Retail segment. The topics of the meetings were very diverse, and their evaluation
was again high.
In addition to meetings on investment topics (the market, current events, macroeconomic forecasts),
participants had the opportunity to meet, among others, specialists in the fields of social research,
real estate analysts, as well as Bank Millennium experts responsible for the development of modern
technologies and artificial intelligence.
The number of registered participants in this event in 2023 exceeded 5,400 people.
In 2024, Bank Millennium intends to continue its webinar series and educate its customers in various
areas of life.
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3.2. RESPONSIBLE ADVERTISING AND SALES
3.2.1. RELIABLE MARKETING COMMUNICATION
Reliable advertising and marketing communications policies
[GRI 3-3, 417-1] The Bank has the following internal regulations on the rules for creating informational
and advertising materials:
▪ "Instruction - rules for devising materials, including commercial publications on products and
financial instruments in Bank Millennium S.A.";-
▪ “Rules for devising commercial publications for the financial products and instruments in Bank
Millennium S.A.”
In addition, the information and advertising materials prepared by Bank Millennium are compliant
with the laws and regulations applicable to this area, including in particular:
▪ The Recommendations laid down by the Code of Ethics in Advertising developed by the
Advertising Council and the Advertising Ethics Commission
▪ the Principles for Advertising of Banking Services of 2008 laid down by the Polish Financial
Supervision Authority,
▪ the Best Practices on consumer loans advertising standards of the Polish Bank Association of
2015,
▪ Provisions of the amended Consumer Credit Act of 22 October 2017,
▪ Mortgage Loan and Supervision of Mortgage Loan Intermediaries and Agents Act,
▪ Act on Trading in Financial Instruments.
In the process of developing marketing communication we adhere to the following recommendations
and principles: Bank Millennium's advertisements are not misleading and show the important
features of the products and services and related benefits and costs. They also depict their legal
nature and provide information about the level of possible risk carried by the client. If the message
pertains to a promotional offer, its conditions are specified. Clients are also advised on where they
can obtain detailed information regarding a given promotion.
Bank Millennium has a Marketing Communications Department whose task, in cooperation with other
organizational units of the bank, is to work out and devise information and advertising materials. The
department is staffed by people with experience and specialized expertise in marketing
communications.
Any change or introduction of a document or marketing material for buyers of respective products is
preceded by consultations within the Bank, verification by the legal, compliance, marketing
communication and product teams, in order to provide clients with a clear and reliable, legally-
required information about the products offered. Implementation of the marketing communication
standards reduces the reputation risk and the risk of sanctions for non-compliance with the
regulations.
Millennium TFI advertises products solely on its website and through distributors of units. The method
of advertising products complies with the provisions of law regulating the operation of investment
funds and investment fund management companies and the guidelines of the Polish Financial
Supervision Authority. To the extent to which product advertising is not subject to detailed
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regulations TFI submits to the standards of the Bank Millennium Group, including standards of ethics
and it does not use messages that are forbidden by law in its advertising.
TFI has adopted for application the Corporate Governance Principles for Supervised Institutions and
it strives to adhere to them in reference to practices pertaining to advertising messages. TFI submits
to the standards of the Bank Millennium Group in all other aspects.
[GRI 417-3] In 2023, there were no recorded cases of Bank Millennium and Group entities failing to
comply with regulations governing marketing communications.
3.2.2. TRANSPARENT INFORMATION ABOUT PRODUCTS AND SERVICES
[GRI 3-3] The Bank provides clients with clear and understandable product information through its
employees, in sales channels and client service channels such as outlets and the hotline, and in the
form of text messages in electronic channels. All the employees who provide clients with information
are properly trained in the scope required by the law, sectoral regulations, best practices and quality
standards implemented by the Bank. Bank employees are informed on an ongoing basis about any
significant changes in sales and client service, which is done through the Bank’s various internal
communication channels. The product sales process is executed on the basis of standardized models
making it possible to present an offer to clients that is adjusted to their needs and expectations
with options that may be of interest to them, along with the information necessary to make an
informed decision about the scope of the given product purchased. The observance of sales standards
and the scope and quality of information provided to clients are evaluated on a regular basis through
Mystery Shopper surveys and as part of client satisfaction surveys. The selling and client service
method is also verified and improved using topics of inquiries and complaints received from clients.
Informing about bank accounts
One of the fundamental goals is to find the right match between the offer and the needs of every
client. The Bank strives to ensure that offers / services are presented after an in-depth needs analysis
and meet the expectations of clients, while being fully comprehensible and transparent to them. In
the process of opening an account and initiating a relationship with a client, employees use aids that
are prepared in an attractive format, are highly transparent and feature clear and comprehensible
language for the purpose of communication. These materials have been developed on the basis of in-
depth research and interviews with clients and are used to diagnose client needs correctly and
optimally and adapt the sales pitch accordingly.
Every person visiting the website may obtain detailed information about the offering and the services
recommended by the Bank depending on the client’s current needs. There is also a hotline available
to clients 24 hours a day and 7 days a week.
[GRI 2-27] In 2023 no penalties were imposed on the Bank in terms of personal accounts, nor were there
any consumer boycotts.
Informing about savings products
Information on savings products in the form of a set of the most important attributes or in more
detail, while paying attention to the constituent elements of given products may be found on the
Bank’s website, may be obtained in any branch, through the hotline or in electronic banking channels.
The Bank regularly improves the method of presenting product information, especially in its remote
channels. Employees are trained in such a manner so as to be able to convey a given scope of
information on every product, including a uniform information document on the scope of savings
products in which one can easily and readily compare the attributes of all products. The Bank also
analyses clients’ questions and complaints to eliminate their causes.
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[GRI 2-27] In 2023 no penalties were imposed on the Bank in terms of savings accounts, nor were there
any consumer boycotts.
Informing about investment products
Marketing materials prepared by the Bank comply with the laws and regulations applicable to this
area, including the Canon of Best Financial Market Practices and the guidelines laid down by the Polish
Financial Supervision Authority. Bank Millennium tracks and modifies materials on an ongoing basis to
meet the recommendations of the Polish Financial Supervision Authority. Trade publications are
subject to review by legal and compliance teams, among others. These units are responsible for
ensuring that materials are in compliance with the law and with the guidelines of supervisory
authorities.
In addition, prior to purchasing an investment product, clients fill out an Investment Survey. Its
purpose, among other things, is to verify a client’s knowledge and experience regarding financial
instruments and services and check whether a client belongs to the target group of recipients of a
specific instrument or service.
Based on the responses provided, the client receives the Investment Survey result with information
about the financial instruments and services for which the client is part of the target group and which
of them are suitable or unsuitable to that client. In accordance with prevailing laws, the Bank does
not apply limitations on the sales of investment products to specific groups of people.
Security of investments
The Bank complies with the requirements of the MiFID 2 directive (Markets in Financial Instruments
Directive). In accordance with the requirements of MiFID 2, the Bank, by offering investment services,
is obligated before the purchase of a product, in particular:
▪ to classify the client to one of the three categories of investors,
▪ to carry out an Investment Survey, which is designed to test the client's knowledge and
experience with individual financial instruments or services, as well as to check whether the
client belongs to the target group of recipients of a specific financial instrument or service,
▪ to provide reliable information that is not misleading about products and risks associated with
investments in those products as well as all the related costs,
▪ to develop a policy of acting in accordance with the best interests of its clients and a policy
to prevent the conflict of interest and inform the client about these policies.
All the marketing publications prepared by the Bank describe, among others, the risks associated
with investments and sample scenarios related to a given financial instrument or product. Clients
are presented with complete and reliable information on the Bank's own products and products
distributed by the Bank, including their issuers and the terms of the complaint process. Information
on services rendered, agreements and other bank documents and letters sent to clients are drafted
in a precise, comprehensible and transparent manner.
[GRI 417-1] Any information materials concerning investment products offered by Bank Millennium
provide relevant information on the risk associated with investment, legal disclaimers as well as the
sites where additional information on the funds (for example on funds or selected financial data) is
published.
If a client wants to purchase a product the Bank considers to be unsuitable or if the Bank does not
have the ability to assess a given product, the Bank advises the client thereof by issuing a warning to
the client during the process of submitting the order. The client also receives this warning on the
order form. The client is obligated to review the warning and if the client still wants to buy the
product, the client is obligated to accept it. Similar rules apply to the target group evaluation process.
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Before starting to offer investment products, the relationship manager should have at least twelve
months of professional experience in this area and have passed a product knowledge test. Each
relationship manager must also undergo mandatory training on the MiFID 2 and a product training in
the e-learning form. The product training describes detailed characteristics of a given product and
clearly points to the risks associated with investments in a given product or financial instrument. If
the relationship manager does not have the required level of experience or knowledge, he/she works
under the supervision of the so-called authorized employee who regularly verifies his/her work.
If the law or internal regulations governing investment products change, e-learning refresher
training is made available to relationship managers. As a result, the employees have adequate and
current knowledge of the investment products offered. Additionally, relationship managers take
advantage of regular market and product conference calls. The Bank’s employees also have
permanent access to current product presentations.
[GRI 2-27] In 2023 no penalties were imposed on the Bank for non-compliance, nor were there any
consumer boycotts concerning the investment products offered by the Bank.
Informing about mortgage products
A customer applying for a mortgage loan, at each stage of the process, receives from the employee
full information about the product and the risks associated with it. In 2023, the Bank conducted large-
scale online training and webinars on product design and the credit process, reminding how to provide
customers with product details in a clear, reliable and transparent way and choose the best offer for
them. In 2023, approximately 1,400 mortgage experts were trained in the brokerage network. The
training in the form of webinars was aimed at, among others: promotion of innovative solutions
supporting customers, both process and product. In 2023, 78 employees of Bank Millennium branches
underwent specialist training in mortgage products at various levels of advancement, ending with the
"Mortgage Certification". In 2023, two training courses on after-sales service for mortgage loans
dedicated to retail chains and one development training dedicated to home construction were
launched. The aim of these trainings is to improve the quality of after-sales customer service at the
branch and to expand knowledge of the Bank's documentation and credit process. 336 employees took
part in these trainings.
[GRI 2-27] In 2023 no penalties were imposed on the Bank in terms of mortgage products being currently
offered, nor were there any consumer boycotts.
The legal issues connected with foreign currency loans are described in chapter 3.2.4.”Settlements
and other solutions for foreign currency loan borrowers”.
Informing about consumer loans
Before the purchase of a product, the Bank investigates the client’s needs and helps to establish the
client’s financial standing and thus adjust the manner of communication and offer a suitable product.
The risk of over-indebtedness and household budget mismanagement is minimized owing to advanced
methods of assessing clients’ creditworthiness and capabilities used by the Bank. The Bank may offer
to its clients the opportunity to consolidate the debt repaid to other lenders, which often allows them
to reduce their monthly credit charges in the household budget and improve their financial security.
[GRI 2-27] In 2023 no penalties were imposed on the Bank in terms of consumer loans, nor were there
any consumer boycotts.
Informing about insurance products
Information regarding insurance products is presented by the Bank in a manner customized to the
sales channel for a given product, orally or at the various stages of the sales process in remote
channels. This information is also set forth in the insurance documentation and/or banking
documentation of the bank product to which the insurance is offered. The Bank takes into
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consideration the aspect of customizing insurance to clients’ needs and expectations in the process
of offering insurance.
Insurance documentation contains standardized specific provisions regarding insurance stemming
from the regulations of law, the Insurance Distribution Act and the guidelines set forth in
Recommendation U that provide for transparently presenting products to clients.
The Bank employs the rules of ethical sales of products by providing for standards consistent with the
guidelines set forth in Recommendation U concerning best practices in bancassurance and the
Insurance Distribution Act.
The Bank educates its employees to procure the appropriate level of quality in the process of selling
insurance products. On top of product training sessions ending with an exam to confer authorization
to commence the sales of insurance, Bank employees go through annual professional training sessions
to enhance their competences systematically in terms of performing tasks involving insurance
intermediation services. Besides legal issues much attention during training sessions is devoted to the
general rules and practical aspects of distribution activity.
[GRI 2-27] In 2023 no penalties were imposed on the Bank in terms of insurance products, nor were
there any consumer boycotts.
3.2.3. ETHICAL STANDARDS IN CLIENT SERVICE
[GRI 3-3, FS15] Activities concerning ethical sales place strong emphasis on service being compliant with
the regulatory requirements and fulfilling the following assumptions:
▪ Tools and guidelines in call scripts focused on giving clients the best possible service by
conveying full and precise information on various products and processes;
▪ Call scripts refer to the necessity of vetting client needs and analyzing products in terms of
their expectations and circumstances;
▪ Assumptions and tools concerning product models are subject to verification by the
compliance unit.
Implementing sales standards in sales units (including ethical sales) is achieved under the following:
preliminary training, e-learning training and post-implementation activities by the persons and units
appointed to do that (including bosses).
The guidelines set forth in the Book of Client Service Standards obligate employees to do the
following in particular: analyze client needs, present the Bank’s offering clearly, discuss the rules on
how the product works, present cost information, diagnose client doubts, provide explanations and
ultimately – confirm that the rules on how the product works are comprehensible to the client prior
to signing an agreement.
At the Bank Millennium Group, ethical sale of products is regulated not only in such guidelines as the
Code of Ethics, Book of Standards or other internal procedures. Attaching great importance to
quality and a high level of ethics in sales, the Bank also prepared Client Call Scripts about daily
banking products, credit products and savings and investment solutions. These scripts have been in
operation for several years and are updated and optimized successively. Each implementation of a
new script involves a mass implementation of the solution among direct customer service employees
and training sessions. All the changes made to the scripts centre on ensuring complete transparency
in terms of the information provided and client education so that they can benefit from the services
offered by the Bank with full awareness.
Compliance with the Scripts and Client Service Standards is constantly monitored by a unit
specially set up for this purpose, while the results are conveyed to the Bank’s Management Board
and the direct superiors of the employees subject to evaluation and are used to take remedial efforts
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across the Bank. Compliance with sales standards and ethics is also monitored independently of the
Bank by using various types of service quality rankings. The Bank attaches great importance to them
and takes into account all the conclusions drawn from them.
The above-mentioned policies are internal documents, while the Code of Ethics is available on the
Bank's website:
https://www.bankmillennium.pl/documents/10184/84940/Kodeks_Etyczny.pdf/8bcf7e70-8f59-4cf2-
9f3a-c80074e15991 ?t=1705481424367
In terms of insurance products, the Bank employs standards consistent with the guidelines set forth
in Recommendation U concerning best practices in bancassurance and the Insurance Distribution Act.
Collection policy
The receivables are restructured and collected by organizational units in the Bank that have been
established especially for this purpose. There are separate units dealing with receivables from
corporate and retail clients (including Biznes clients, too) based on internal (instructions,
communications and guidelines) and external regulations (in particular, based on the norms of
generally applicable national and EU law).
In the area of retail debt recovery, the Bank hires employees with expanded knowledge of both law,
economics or related fields, as well as experience in the area of negotiations and discussions with
customers. Employees' knowledge is regularly updated through training related to, among other things,
new legal or technical solutions implemented.
The goal of the activities of all dedicated units is to find the best solution for both parties, allowing
the client to get out of the payment crisis or, if the above proves impossible, to satisfy the receivables
to the Bank as soon as possible.
In the course of recovering retail receivables, the Bank is guided by the principle of:
• legalism - any action taken to satisfy the Bank's receivables must be justified in the applicable
legal system, without violating the applicable laws,
• personalized approach - each case requires individual recognition and the application of
methods and measures appropriate to the facts,
• amicability - in each case, the first thing to do is to reach an agreement with the customer
on the terms of debt repayment
• comprehensiveness of the case analysis - both the initial action strategy and its modifications
should be based on a comprehensive analysis of the case, made on the basis of the data, files
and other information held and updated during the course of the proceedings,
• innovation - during the process of recovering past due receivables, the Bank pays special
attention to the development of new methods, instruments and approaches used.
The process of pursuing receivables from retail clients is conducted while using a supporting IT system
linked to the Bank’s operating system and the credit card administrative system making it possible to
identify receivables at risk, verify and monitor them, archive actions, progress and the outcomes of
collection, dispatch key correspondence and report and manage various receivables.
With regard to the process of recovering retail receivables, the Bank has instructions and guidelines
that specify how to conduct telephone conversations focused on respect for the customer and efforts
to reach an amicable solution to non-payment.
In addition, the Bank attaches great importance to the legibility and clarity of letters addressed to
customers - the “Plain Language" declaration was implemented, as a result of which a standard for
plain communication was built. Training courses on the subject have also been organized with plain
language consultants, with several hundred people from many areas of the Bank participating.
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Provisions regarding a transparent debt collection process are also regulated in selected provisions of
the product regulations, which are made available to customers in the process of concluding contracts
and on the Bank's website.
Assistance in repayment of debt
Bank Millennium offers a debt consolidation loan with an option to pay down debt in other banks to
clients who are looking for an opportunity to reduce the costs of servicing their current liabilities. In
addition, clients may take advantage of a deferred payment of one installment of a cash or
consolidation loan (credit holidays), which represents important help in a case in which the funds
designated for an installment in a given month must be used for other purposes.
In the case of loan defaults or the customer reporting potential repayment problems, the Bank offers
customers the possibility to negotiate to establish new mutually convenient payment terms. The
conclusion of an annex or restructuring agreement containing in its content, modifications to the
existing terms and conditions of repayment of the liabilities, adapted to the customer's situation and
financial capabilities, is possible in any form - both during a visit to the Bank's facilities and using
electronic banking channels (online).The Bank offers customers a wide range of possible restructuring
solutions, including, in particular, reducing the amount of installments paid, extending the term of
the loan, changing the payment date. A number of online solutions are also deployed in the retail
area, allowing the customer to initiate self-help activities. Depending on the customer's situation, the
Bank allows and offers individual groups of customers the possibility of, among other things, changing
the repayment schedule on their own (online).
3.2.4. SETTLEMENTS AND OTHER SOLUTIONS FOR FOREIGN CURRENCY
MORTGAGE LOAN BORROWERS
For many years, Bank Millennium has been consistently following the strategy of seeking and
implementing amicable solutions to resolve problems related to FX mortgage loans (in particular those
indexed to or denominated in CHF). The solutions offered to clients are customized to their needs
and are aimed at, among others, making it easier for borrowers who repay a CHF loan to convert the
loan currency (i.e. change the repayment currency to Polish zloty) or repay the loan on favorable
terms. The Bank makes efforts to limit the formalities associated with these orders to the necessary
minimum and to make sure that the offer is suitable for the client’s current circumstances.
The negotiation process is addressed to all clients with outstanding loan agreements in CHF. Its scope
includes the clients who are litigating and those who are not. This division allows the Bank to apply
the procedures and tools that are adequate to the client’s actual situation. Special attention is given
to clients in difficult life or financial circumstances (clients with significant amount of past due
payments). Each group of clients receives an offer tailored to their individual situation and needs,
while the terms and conditions offered to the last group (customers in difficult life or financial
situation) sometimes being more favorable due to the specific situation of the borrowers (illness,
long-term unemployment/difficult financial situation, death of one of the borrowers, divorce).
Bank Millennium is one of the first banks to have made it possible for foreign currency loan borrowers
to enter into settlements on a significant scale. In 2020-2023, as a result of this process, the number
of outstanding mortgage loans in CHF decreased by 21,428 (out of which in 2023 alone the number of
settlements was 3,672). In 2024, the Bank will continue its activities aimed at reducing the foreign
currency loan portfolio.
One must also remember that since 5 May 2020, orders given by clients with mortgage loans indexed
to or denominated in Swiss francs (including repayment of loan instalments), have been fulfilled by
Bank Millennium using the exchange rate equal to the average exchange rate of the National Bank of
Poland for Swiss francs published in Table A – Average foreign currency exchange rates.
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Since January 2015, when quick increase of the Swiss franc exchange rate was recorded, Bank
Millennium has been offering special solutions comprising the so-called “six-pack”, including:
(1) Accepting a negative LIBOR rate for calculating the interest rate for mortgage loans.
(2) A significant reduction of the so-called exchange rate spread, which causes a perceivable
decrease in the level of loan instalments paid by clients (replaced by the NBP average exchange rate
in 2020)
(3) At a client’s request, extension of the repayment term or temporary suspension of loan
instalment repayment so that the instalment amount is not higher or is only slightly higher than before
the exchange rate was freed. Such requests were only available to the borrowers residing in the
financed property.
(4) Resignation from demanding new collateral and loan insurance from borrowers who repay loan
instalments on a timely basis.
(5) Allowing borrowers to convert the loan currency from CHF to PLN at the exchange rate equal
to the average exchange rate published by the NBP (standard offer).
(6) Making the rules for mortgage loan restructuring more flexible for clients residing in the
financed properties.
The borrowers who are Bank Millennium clients may also receive aid from the Borrower Support Fund
designed for the individuals, who experience financial hardships and are obligated to make
repayments of mortgage loan instalments (irrespective of the loan currency) constituting a substantial
burden on the household budget.
A borrower who has been awarded such support will receive monthly funds to cover the repayment
of a loan instalment. The funds are paid for a period no longer than 36 months in the amount
corresponding to the loan instalment amount, but no more than PLN 2,000. If the amount obtained
from the sale of the real property is not sufficient for full repayment of the mortgage loan, a borrower
may receive a debt repayment loan (zero-interest form of aid) in the maximum amount of PLN 72,000.
Repayment of the aid received begins two years after the last part of the support or debt repayment
loan is paid out and is divided into 144 instalments with no interest. A portion of the amount may be
forgiven, provided that repayments are made on a timely basis.
As at 31 December 2023, the Bank had 20,729 loan agreements and additionally 1,756 loan agreements
from the former Euro Bank that were the subject matter of currently pending individual lawsuits
(these figures do not include collection cases) relating to indexation clauses in FX mortgage loans
submitted to courts (64% of the loan agreements before first instance courts and 36% of the loan
agreements before second instance courts).
The Bank is a party to a class action lawsuit initiated in 2014 seeking to establish the Bank’s liability
for unjust enrichment in connection with the concluded foreign currency mortgage loan agreements.
This is not a lawsuit seeking any payment. A ruling in these proceedings will not award any amounts
to the members of the group. There are 3,273 loan agreements included in these proceedings. At this
stage, the composition of the group has been established and confirmed by the court. The proceedings
have entered the phase of examining the merits. In the meantime, more than 26% of the loan
agreements in this class action have been the subject of an arrangement (pertaining to conversion to
PLN or early repayment) between the Bank and the borrower through the aforementioned settlement
process.
More information on foreign currency mortgage loans legal risk can be found on the Annual
Consolidated Financial Report of the Bank Millennium S.A. Capital Group for the 12-month period
ending 31st December 2023.
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RESPONSIBLE EMPLOYER
Bank Millennium creates a friendly work environment for all staff regardless of their gender, age,
race, religion, nationality, ethnic origin, disability, political beliefs, trade union membership or sexual
orientation, so that everyone may thrive in conditions conducive to professional development in an
atmosphere of cooperation and mutual respect. In 2022 Bank Millennium received a number of awards:
Ranked 2nd in the Best Employers Poland 2023 ranking in the “Banks and financial services”
category
Bank Millennium came second again in the ranking of best employers in the banking and financial
sector and 44th overall among all the companies included in the Best Employers Poland 2022 ranking.
The ranking of 300 companies operating in Poland that conduct successful HR operations has been
compiled by Forbes Poland and Statista.
Golden CSR Leaf
Bank Millennium’s sustainability efforts and the fact that they have been integrated in its business
strategy have once again been recognized with the Golden CSR Leaf awarded by the Polityka weekly.
It is awarded to companies that implement the highest standards of social responsibility – they have
ethics management systems in place, they engage socially, take action in response to the needs of
their customers and employees and minimize their environmental footprint.
Millennium awarded for its diversity activities
Bank Millennium was included in this year's Financial Times Diversity Leaders Ranking. This list of
European companies is prepared periodically by the elite economic and financial daily in cooperation
with the research company Statista. The "European Diversity Leaders 2024" ranking presents a list of
850 companies that obtained the highest points in the survey. Bank Millennium was ranked 262nd on
the list, achieving an index of 73.36 points. Bank Millennium has the sixth position in the ranking
among Polish companies, but we are the best in the domestic banking sector.
Bank Millennium with the Sound Employer 2023 title
In 2023, Bank Millennium was honored with the title of Solid Employer of the Year for the tenth
time in a row. The award is granted to companies that care about safety, working conditions and
employee development.
The aim of the Solid Employer of the Year program is to select the best employers in Poland, business
entities with an exemplary personnel policy, which translates into high quality of products and
services provided on the demanding Polish market. The Solid Employer of the Year program, organized
by the Kowalski Pro-Media group, is one of the oldest projects of this type in Poland.
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3.3. HEADCOUNT STRUCTURE
At the end of 2023 the headcount in the Bank Millennium Group was 6,872 people. Most of the
employed workers were women (66%), and the average age of employees was 39. The overall monthly
fluctuation rate declined from the previous year and stood at 3%. The Bank treats the Republic of
Poland as the area of its business activity, therefore all disclosures in the ESG Report refer to Poland,
and the Bank does not distinguish other locations important from the perspective of business activity.
In the Bank Millennium Group, we did not record any significant fluctuations in the number of Group
employees between reporting periods. We do not employ employees with non-guaranteed working
hours.
[GRI 2-7] Number of employees in 2023*
Men
Total
men
Women
Total
women
Grand
total
<30
yrs
30-50
yrs
>50
yrs
<30
yrs
30-50
yrs
>50
yrs
Bank Millennium
Group
514
1,493
359
2,366
916
3,000
590
4,506
6,872
Bank Millennium
501
1,393
317
2,211
891
2,844
539
4,274
6,485
* Employment status in persons as of31.12.2023
[GRI 2-7] Employees by type of employment in 2023*
Bank Millennium Group
Bank Millennium
Men
Women
Total
Men
Women
Total
Full-time
2,309
4,363
6,672
2,196
4,201
6,397
Part-time
57
143
200
15
73
88
Employment agreement
2,366
4,506
6,872
2,211
4,274
6,485
For an indefinite term
1,997
3,850
5,847
1,857
3,630
5,487
For a definite term
369
656
1,025
354
644
998
* Employment status in persons as of31.12.2023
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[GRI 401-1] Newly-hired employees*
Men
Total
men
Women
Total
women
Grand
total
<30y
rs
30-50
yrs
>50
yrs
<30y
rs
30-
50yrs
>50y
rs
Bank Millennium
Group (percentage
in a given age
category)
222
(37%)
169
(39%)
15
(47%)
406
(38%)
385
(63%)
259
(61%)
17
(53%)
661
(62%)
1,067
(16%)
Bank Millennium
(percentage in a
given age category)
217
(37%)
148
(39%)
12
(48%)
377
(38%)
375
(63%)
233
(61%)
13
(52%)
621
(62%)
998
(15%)
*Number of persons hired during the year 2023. The percentages in the "Grand total" column mean
the percentage of newly employed employees in the Millennium Group/Bank in the total number of
employees in the Millennium Group/Bank as at December 31, 2023
[GRI 401-1] Departures – number of employees*
Men
Total
men
Women
Total
women
Grand
total
<30
yrs
30-50
yrs
>50
yrs
<30
yrs
30-50
yrs
>50
yrs
Bank Millennium
Group
(percentage in a
given age category)
190
(38%)
199
(32%)
29
(35%)
418
(35%)
316
(62%)
417
(68%)
53
(65%)
786
(65%)
1,204
(18%)
Bank Millennium
(percentage in a
given age category)
186
(37%)
183
(32%)
22
(32%)
391
(34%)
311
(63%)
387
(68%)
47
(68%)
745
(66%)
1,136
(18%)
* The number of persons who left the organization during the year 2023. The percentages in the
"Grand total" column mean the percentage of employees who left the Millennium Group/Bank in the
total number of employees in the Millennium Group/Bank as at December 31, 2023
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Employee turnover ratio*
Men
Total
men
Women
Total
women
Grand
total
<30
yrs
30-50
yrs
>50
yrs
<30
yrs
30-50
yrs
>50
yrs
Bank Millennium
Group
7%
2%
1%
3%
6%
2%
1%
3%
3%
Bank Millennium
7%
2%
1%
3%
6%
2%
1%
3%
3%
* Sum of new hires and departures in a given year divided by year-end headcount multiplied by 12
for each age group and by gender (in persons)
Employees hired locally*
Bank Millennium Group
Bank Millennium
Men
Women
Total
Men
Women
Total
Number (and percentage) of
employees
2,345
(99%)
4,484
(100%)
6 829
99%)
2,191
(99%)
4,254
(100%)
6,445
(99%)
Number (and percentage) of
Management Board Members
and senior managers
60
(90%)
27
(100%)
87
(93)
49
(88%)
23
(100%)
72
(91%)
* Polish citizens working in Poland (employment status as of 31.12.2023)
[GRI 405-1] Employees by position and age/gender
Bank Millennium
Group *
Men
Total
men
Women
Total
women
Grand
total
<30
yrs
30-50
yrs
>50
yrs
<30
yrs
30-50
yrs
>50
yrs
Management Board
0
0
7
7
0
0
0
0
7
Senior
management
0
24
36
60
0
14
13
27
87
Management
15
311
79
405
12
408
101
521
926
Sales personnel
361
501
52
914
763
1,691
218
2,672
3,586
Technicians
108
589
169
866
85
718
243
1,046
1,912
Other employees
30
68
16
114
56
169
15
240
354
Total
514
1,493
359
2,366
916
3,000
590
4,506
6,872
* Employment status in persons as of 31.12.2023
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Bank Millennium *
Men
Total
men
Women
Total
women
Grand
total
<30
yrs
30-50
yrs
>50
yrs
<30
yrs
30-50
yrs
>50
yrs
Management Board
0
0
7
7
0
0
0
0
7
Senior management
0
22
27
49
0
11
12
23
72
Management
15
298
71
384
12
377
86
475
859
Sales personnel
360
484
46
890
760
1,673
214
2,647
3,537
Technicians
97
535
152
784
70
644
216
930
1,714
Other employees
29
54
14
97
49
139
11
199
296
Total
501
1,393
317
2,211
891
2,844
539
4,274
6,485
* Employment status in persons as of 31.12.2023
[GRI 405-1] Employees by gender
Bank Millennium Group *
Men
%
Women
%
Total
%
Management Board
7
100%
0
0%
7
100%
Senior management
60
69%
27
31%
87
100%
Management
405
44%
521
56%
926
100%
Sales personnel
914
25%
2,672
75%
3,586
100%
Technicians
866
45%
1,046
55%
1,912
100%
Other employees
114
32%
240
68%
354
100%
Total
2,366
34%
4,506
66%
6,872
100%
* Employment status in persons as of 31.12.2023
Bank Millennium *
Men
%
Women
%
Total
%
Management Board
7
100%
0
0%
7
100%
Senior management
49
68%
23
32%
72
100%
Management
384
45%
475
55%
859
100%
Sales personnel
890
25%
2,647
75%
3,537
100%
Technicians
784
46%
930
54%
1,714
100%
Other employees
97
33%
199
67%
296
100%
Total
2,211
34%
4,274
66%
6,485
100%
* Employment status in persons as of 31.12.2023
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[GRI 405-1] Employees by age
Bank Millennium Group *
<30
yrs
%
30-50
yrs
%
>50
yrs
%
Total
%
Management Board
0
0%
0
0%
7
100%
7
100%
Senior management
0
0%
38
44%
49
56%
87
100%
Management
27
3%
719
78%
180
19%
926
100%
Sales personnel
1,124
31%
2,192
61%
270
8%
3,586
100%
Technicians
193
10%
1,307
68%
412
22%
1,912
100%
Other employees
86
24%
237
67%
31
9%
354
100%
Total
1,430
21%
4,493
65%
949
14%
6,872
100%
* Employment status in persons as of 31.12.2023
Bank Millennium *
<30
yrs
%
30-50
yrs
%
>50
yrs
%
Total
%
Management Board
0
0%
0
0%
7
100%
7
100%
Senior management
0
0%
33
46%
39
54%
72
100%
Management
27
3%
675
79%
157
18%
859
100%
Sales personnel
1,120
32%
2,157
61%
260
7%
3,537
100%
Technicians
167
10%
1,179
69%
368
21%
1,714
100%
Other employees
78
26%
193
65%
25
8%
296
100%
Total
1,392
21%
4,237
65%
856
13%
6,485
100%
* Employment status in persons as of 31.12.2023
[GRI 2-8]As at 31.12.2023, the Bank cooperated with 579 non-employees. This group includes mainly
194 persons who were contractual employees providing highly specialized IT services in development
projects of the Bank. The vast majority of the other individuals were 222 individuals working for
Millennium Leasing in sales network as external partners.
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3.4. WORKING CONDITIONS
3.4.1. HR POLICY
[GRI 3-3] The Bank Millennium Group has in place the “Bank Millennium Group’s Human Resource
Policy” concerning such issues as employee recruitment, management, development and retention
as well as planning and monitoring employment.
The Bank has compensation policies in place for employees as well as persons having material impact
on the Bank’s risk profile. They formulate the assumptions used to shape the fixed and variable
components of these employees' compensation.
Bank Millennium operates in compliance with the policies for selection and assessment of Supervisory
Board Members and Management Board Members as well as key functions holders. The application of
these policies ensures that the persons discharging the most important functions in the Bank
Millennium Group, including functions in the management bodies, have the requisite professional
qualifications and the appropriate reputation. This policy fosters sound Group management, the
generation of stable results and the appropriate risk management in the long-term perspective.
Another policy in force is “Diversity Policy”, which shows that Bank Millennium operates while
respecting human dignity and the right of equal treatment regardless of age, gender, ethnic or
national origin, religion, creed, family status, sexual orientation, health condition, convictions, trade
union membership and other premises that could trigger discrimination.
The Bank Millennium Group applies employee regulations that are as uniform as possible, in particular:
Work Rules and Regulations - laying down the organization and order of work and the related rights
and duties of the employer and employees as well as Compensation Rules and Regulations
establishing the rules and conditions for paying compensation and awarding other benefits.
The result of applying HR policies is as follows:
▪ Creating uniform rules of employment, access to benefits and compensation;
▪ Checking compensation systems periodically, including base salaries, including comparisons
with market benchmarks;
▪ Using balanced appraisal systems aligned to the mid and long-term targets while taking into
account quantitative and qualitative criteria;
▪ Checking qualifications and conscientiously selecting employees for the top positions in the
Group;
▪ Countering conflicts of interest and decision making that poses a threat to the Bank’s long-
term interests by introducing more detailed criteria for appraising the work of people in
managerial positions referring to their impact on the risk;
▪ Counteracting discrimination and mobbing through communication, training and
implementing an abuse reporting system;
▪ Building an organizational culture based on values by extensively advancing organizational
values.
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3.4.2. COMPENSATION POLICIES
The Bank Millennium Group has in place a uniform “Compensation Policy for employees of the Bank
Millennium Group”, which articulates the assumptions used to shape the fixed and variable
components of compensation for all the Group employees. The policy aims to provide a formal
framework for shaping the practice of compensating all the Group’s employees from the perspective
of corporate governance, institutional safety and the adequacy of compensation to the Group’s
standing, scale of operations and growth potential.
Furthermore, for employees identified as having material impact on the risk profile (the so-called
Risk Takers), there is “Compensation Policy for Risk Takers in the Bank Millennium Group”, which
specifies detailed rules for granting variable components of compensation and other terms and
conditions affecting the decisions on their payment. In addition, Bank Millennium has in place the
“Instruction for identification of employees whose professional activities have material impact on the
risk profile (Risk Takers) at the Bank Millennium Group” which includes guidelines for the annual Risk
Takers identification process.
In the Millennium Towarzystwo Funduszy Inwestycyjnych SA subsidiary, in accordance with the
statutory obligation, a separate compensation policy is in place and the solutions comprised therein
are contained in the framework adopted in the “Compensation Policy of the Bank Millennium Group”.
The adopted policies form a framework for organizing principles of compensation in key aspects:
▪ principles for defining the amounts of compensation,
▪ the relationship of variable compensation to fixed compensation,
▪ decision-making process for changing compensation,
▪ supervision of all the compensation decisions at the Bank and in the Group,
▪ linking bonuses to good results of both the company and the employee,
▪ counteracting incentives that induce actions and decisions that threaten the long-term
interest of the Bank and its clients,
▪ defining assessment criteria corresponding to short-, medium- and long-term goals set for
employees,
▪ taking into account additional qualitative criteria for assessing work in units where work is
especially directed to sales results.
The Bank consistently uses stable forms of employment and compensation. Employees have
employment contracts and fixed compensation makes up a major part of their overall compensation.
The policy defines the framework to determine fixed compensation of employees, taking into
consideration the tasks and competences required in individual teams and units.The assumed
compensation levels at individual grades and positions are verified based on the market situation and
data from reports on compensation levels in business sectors.
The Bank constantly monitors the solutions adopted in individual business lines so that they do not
create stimuli for actions and decisions that threaten the long-term goals of the Bank, exceed the
accepted risk profile, and do not encourage actions that are inconsistent with the best interests of
the Group’s clients and investors.
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Process to develop compensation policies and determine remuneration
[GRI 2-20] The Bank has in place the “Compensation Policy for employees in the Bank Millennium
Group”, which was drawn up while taking into account the management and internal control system
in place, as well as the “Compensation Policy for Risk Takers in the Bank Millennium Group”.
The Bank’s Management Board is responsible for the implementation of the Compensation Policies.
The Bank’s Management Board develops, implements, maintains and ensures the operation of the
Compensation Policies that are suitable for the management system and risk strategy and the internal
control system in the Bank Millennium Group.
The Bank’s Supervisory Board is responsible for the approval and maintenance of the Compensation
Policies. Once a year, the Bank’s Supervisory Board prepares and presents to the Bank’s Shareholder
Meeting a report on the assessment of the functioning of Compensation Policies in the Bank Millennium
Group.
The implementation of the Compensation Policies in the Bank Millennium Group is subject opinions
by the Personnel Committee of the Bank’s Supervisory Board. In its report to the Bank’s Supervisory
Board, the Personnel Committee of the Bank’s Supervisory Board presents its conclusions regarding
the functioning of the Compensation Policies.
The Bank’s Shareholder Meeting is responsible for assessing whether the approved Bank Millennium
Group Compensation Policies support growth and security. The Bank’s Shareholder Meeting makes the
above assessment on the basis of the annual report on the assessment of the functioning of the
Compensation Policies in the Bank Millennium Group, which is prepared and presented by the Bank’s
Supervisory Board.
The Trade Unions active in Bank Millennium provide consultation of any changes that are introduced
to the rules governing basic salary and to bonus systems.
The process to determine remuneration is defined in the “Rules and Regulations for Compensating
Employees of the Bank Millennium S.A.’s Head Office”. These rules and regulations set the terms and
conditions of compensation, including the minimum levels of basic salary resulting from the assigned
grade and position.
At the Bank, regular salary and position reviews are conducted. Pursuant to an assessment of the
Group’s financial condition and its business environment, the Bank’s Management Board may make a
decision to award a pool of funds to be used to modify employees’ base salaries. Salary levels are
reviewed taking into account the periodic assessment of performance and skills and are compared
with salary information presented in salary studies on the financial markets.
The compensation of senior managers is set by the Personnel Committee of the Bank’s Management
Board and the compensation of the Bank’s Management Board Members is determined by the
Personnel Committee of the Bank’s Supervisory Board.
External consultants are not directly involved in the process to determine compensation levels,
however the Bank does analyze data from compensation reports provided by consultants from Korn
Ferry and Sedlak&Sedlak.
Policy of variable compensation components
In the Bank Millennium Group, variable compensation is an additional motivational part of the overall
compensation, shaped using differentiated bonus schemes whose purpose is to motivate employees
to achieve their business and organizational plans. The bonus systems and periodic evaluation criteria
in the Bank Millennium Group have been adapted to the specific nature of work performed by
employees in the Group’s various areas. The rules for granting bonuses are defined for individual
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employee groups in the Rules and regulations of performance assessment and conditions for granting
bonuses.
The Bank does its best for the motivation mechanisms addressed to the employees of sales units and
other units involved in processes related to client service to be devised in such a way that they do
not lead to a conflict of interest or incentives that may incline Group employees to place their own
interests or the firm’s interest first thereby creating a prospective loss for any Group client.
The bonus pool amount depends each time on overall results and on the general condition of the
Bank. Bonuses are paid out monthly or semi-annually in the Bank’s sales network and other head
office units involved in the customer service of retail clients or quarterly for employees of the Bank’s
Head Office.
The bank linked a variable part of the remuneration of people holding key positions (implementing
strategic ESG initiatives) with the qualitative assessment and the degree of implementation of
strategic ESG initiatives.
[GRI 2-19]The rules for compensating members of the highest governance bodies are set forth in the
“Compensation Policy for Bank Millennium S.A. Management Board and Supervisory Board Members”.
Senior management in the Bank Millennium Group is comprised of employees identified as having
material impact on the Group’s risk profile, or Risk Takers. They are subject to the provisions of the
“Compensation Policy for Risk Takers in the Bank Millennium Group”. The policy aims to provide a
formal framework for determining the compensation of all the Group’s employees from the
perspective of corporate governance, institutional safety and the suitability of compensation to the
Group’s standing, scale of operation and growth potential, by defining fixed and variable
compensation elements.
As defined in the Policy, compensation includes all forms of benefits, financial and non-financial
payments, provided directly and indirectly to Management Board Members, Supervisory Board
Members and Risk Takers in the Bank Millennium Group.
Compensation may consist of fixed and variable components.
Fixed compensation should reflect professional experience and responsibility within the organization,
while taking into account:
▪ the level of education, work experience, professional expertise and skills relevant to the role
performed in the organization,
▪ complexity of tasks and impact on the institution’s risk profile, as well as constraints (e.g.
social, economic, cultural or other relevant factors),
▪ scale of operations and level of compensation on similar positions in institutions with a similar
profile and scale of operations as the Bank.
Variable compensation is an additional, motivational element of compensation and the ratio of
variable compensation to fixed compensation should not exceed 100% over a year. In justified cases,
with the approval of the Bank’s Shareholder Meeting, this ratio may be increased, but not above 200%.
In order to prevent conflicts of interest, Supervisory Board Members receive fixed compensation only,
paid out in cash. The compensation of Supervisory Board Members is not linked to the Bank’s financial
and business performance.
The compensation may be differentiated by taking into account the function performed on the
Supervisory Board or the work in committees, and it should also be correlated with the involvement
in the work of the Supervisory Board and the level of compensation received by members of
supervisory bodies of institutions with a similar scope and scale of operations.
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Management Board Members and Risk Takers may receive fixed and variable compensation elements.
Based on the policy requirements, 50% of the variable compensation is awarded in the form of
financial instruments. Additionally, 50% of the bonuses for Management Board Members and 40% of
the bonuses for Risk Takers is deferred to be paid out over the following 5 years. If annual variable
compensation drops below a certain limit, the entire bonus amount may be paid out in cash without
engaging the deferral mechanism.
The Bank takes into account the ESG aspect in its assessment of the quality of its Management Staff.
When determining the variable remuneration of risk takers who implement the ESG Strategy, one of
the evaluation criteria is the degree of implementation of ESG Strategy initiatives. The principles of
compensation for members of the highest governance bodies are designed in such a way as to avoid
creating any stimuli that could incline people to engage in activities and take decisions that pose a
threat to the Bank’s long-term welfare and transcend the acceptable risk profile, to undertake actions
at odds with the best interests of the Group’s clients and investors and to introduce risks to
sustainable development in the activity of Group companies. Additionally, the compensation
principles are designed to uphold neutrality in reference to gender.
No external consultants were involved in the process to determine compensation for members of
governance bodies.
[GRI 2-20] In 2023, the Shareholder Meeting accepted the “Report on compensation of Bank Millennium
Management Board and Supervisory Board Members for 2022”.
Annual compensation ratio
[GRI 2-21] The ratio of the 2023 annual total compensation of the highest paid individual in the
organization to the median of annual total compensation of all employees (excluding the highest paid
individual) equals to 40.
The ratio of the percentage increase in the total annual compensation for 2023 of the highest paid
individual in the organization to the median of percentage increase in the total annual compensation
for all employees (excluding the highest paid individual) is 1.42. From January 1, 2024, a remuneration
review took place related to the introduction of a new model of positions and grade levels, which will
significantly affect the increase in the median of remuneration in the next year.
For the purpose of calculating the above ratios, it has been concluded that the total remuneration
includes the base salary, benefits and variable remuneration paid by Bank Millennium in 2023
(including blocked rights to financial instruments), while it excludes benefits related to relocation to
the country where the work is performed.
3.4.3. SIGNIFICANT RISKS RELATED TO THE EMPLOYEE AREA
A significant risk factor is the employee turnover ratio and the prospective loss of competences of
importance to the Bank’s development. Shortages of employees having specific competences in the
labour market and competition for acquiring specialized employees may cause a periodic risk of
making decisions to recruit employees and compensate them at higher rates than those prevailing in
the organization. As a result, there may appear compensation disparities between similar positions.
The Bank takes actions to prevent that undesirable phenomenon, especially by setting recommended
recruitment compensation levels and performing periodic compensation reviews.
Another risk associated with the compensation policy may be the applied motivation mechanisms
inclining employees to work in a task-based manner which may potentially cause a conflict of interest.
The risk of employees acting too one-sidedly as a result of incentive mechanisms aimed at achieving
higher sales, and therefore bonuses, is mitigated by taking into account quality criteria when
evaluating work.
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In addition, the consistent implementation of the adopted Compensation Policy allows for minimizing
risks by, among others, maintenance of the right ratio of fixed to variable compensation, application
of a formal assessment system including criteria adjusted to the nature and special character of work
and a long-term perspective for assessing business results, the mechanism of managing the variable
compensation pool dependent on the Bank’s financial standing.
3.4.4. SUPPORTING DIVERSITY AND COUNTERACTING DISCRIMINATION
In accordance with the "Human Resources Policy" in force in the Bank Millennium Group the use of
any discriminatory practices with features of mobbing or harassment in relation to employees is
prohibited. The Bank Millennium Group operates while respecting human dignity, it adheres to the
law on equal treatment regardless of age, gender, ethnic or national origin, religion, creed, family
status, sexual orientation, health condition, convictions, trade union membership and other premises
that could trigger discrimination. The Bank has “Diversity Policy” and is a signatory to the Diversity
Charter, which is a pledge signed by organizations that choose to prohibit discrimination in the
workplace and work to create and promote diversity.
Issues of human rights, including respect for diversity in the Bank’s Group are also governed by the
“Code of Ethics”, the “Diversity Principles”, the “Work Rules and Regulations” and regulations
pertaining to recruitment. The result of implementing these policies is a series of measures. All
employees go through mandatory training on ethical issues, which include human rights. In addition,
the management is trained on combating mobbing and discrimination in employment. The Bank has
anti-mobbing and anti-discriminatory procedures. Employees may report abuse anonymously to the
stated email address.
Bank Millennium
Bank Millennium Group
2023
2022
2021
2020
2023
2022
2021
2020
Number and % of
managers trained on
anti-discrimination and
mobbing in a given
year
204
169
29
98
209
182
31
102
22%
18%
3%
10%
21%
18%
3%
9%
Total percentage of
trained managers
88.79%
72.94%
61.45%
61.83%
89.02%
74.07%
62.08%
63.26%
* The data do not include employees of franchised branches.
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▪ During employee recruitment, criteria putting one in jeopardy of discriminatory behavior
are not applied. These rules also apply to the termination of employment, terms of
employment, promotions and access to training to raise professional qualification. Candidates
are selected based on objective criteria, such as in particular: education, professional
experience, general and specific competences, proficiency in foreign languages and the
overall match with the profile.
▪ The Bank analyzes on an ongoing basis the compensation structure and equality of earnings
and jobs by gender, age and nationality. Interviews are held from time to time with persons
leaving the Bank to grasp the reasons for them to leave.
▪ Extensive communication and support are addressed to employees who are parents. The Bank
advises them of their parental rights in the Yes to Parenting program.
▪ Benefits such as medical care, group insurance, co-financing for sport and recreation are
offered to all employees, also part-time employees. The Bank encourages employees to take
their holiday leaves.
▪ The Bank lends a helping hand to people in a challenging financial and health-related
situation through the existing social assistance system predicated on the Company Social
Benefits Fund.
▪ People with disabilities may take advantage of office infrastructure that is adjusted to their
capabilities.
Bank Millennium Group
Bank Millennium
2023
2022
2021
2020
2023
2022
2021
2020
[GRI 405-1]
Employees with
disabilities
64
(0.93%)
66
(0.94%)
69
(0.97%)
68
(0.89%)
64
(0.99%)
65
(0.98%)
67
(1.01%)
66
(0.92%)
[GRI 405-1] Employees with disabilities by age and gender*
Men
Total
men
Women
Total
women
Grand
total
< 30
yrs
30-50
yrs
> 50
yrs
< 30
yrs
30-50
yrs
> 50
yrs
Bank
Millennium
Group
1.17%
0.74%
1.67%
0.97%
0.33%
0.80%
2.37%
0.91%
0.93%
Bank
Millennium
1.20%
0.79%
1.89%
1.04%
0.34%
0.84%
2.60%
0.96%
0.99%
* Headcount as at 31 December 2023
▪ The Bank runs management training whose aim is to strengthen appropriate attitudes,
including also to overcome stereotypes and promote openness to employees’ various
convictions and mold their own responsibility and that of their reports.
▪ Employees may freely express their views on an internal internet forums.
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▪ We have launched the Diversity is OK! initiative to educate employees, promote mutual
understanding, raise awareness of the importance of synergy in teams, and build skills to
influence the development of teams through effective communication and collaboration
among employees. The purpose of the initiative is to demonstrate that differences can unite
and bring tangible benefits. We want to make sure that every person in the organization feels
important and valued. To reach as many employees as possible, we host regular webinars that
can be viewed live or listened to on the Cornerstone training platform. So far, we have
covered topics such as gender equality, body positivity, the pay gap, communicating in
multigenerational teams, she and he in business - the synergy effect, and feminatives.
The Bank is committed to promoting the idea of leveling the playing field, recognizing different points
of view, and developing non-standard solutions for employees and clients.
The HR Department keeps a register in which all employee claims are recorded. They are reported
to the Process and Operational Risk Committee. A notification is examined using a procedure, which
involves, among others: collecting documentation to review the claim, conducting a survey among
employees, making a decision to accept or reject the claim and issuing a response to the employee.
[GRI 406-1] In 2023, 19 reports were registered and considered to determine whether they bore signs
of mobbing or discrimination. In cases of mobbing, the Bank conducts anti-mobbing surveys and
interviews with superiors of teams and units. In all cases that were clarified by December 31, 2023,
mobbing was not confirmed. Explanatory proceedings are still ongoing for 3 reports. The conclusions
of the findings included tips for managers to pay special attention to the principles of social
coexistence and instructions on the need to take care of relationships with employees. In some
justified cases, activities developing managerial competences (coaching) were proposed, which could
include both managerial tools and building relationships with the team.
If mobbing or discrimination is confirmed, the Bank will implement appropriate actions, including
corrective plans, which will be reviewed and verified as part of internal management processes.
The number of reports regarding activities with the characteristics of mobbing or discrimination
indicated in this report is higher than the number of such reports for the previous year, because last
year only the number of reports regarding activities with the characteristics of mobbing was reported.
The reported indicator [GRI 406-1] applies to Bank Millennium Group.
Compensation for women and men
In accordance with the Human Resource Policy in force in Bank Millennium, the Bank incorporates
information in the compensation policy concerning the market levels of compensation for similar
positions. Employee compensation is periodically checked on the basis of the Bank’s current strategy,
market data, job performance assessments and employee career stages. The Bank strives to devise
bonus schemes in which the incentive is linked to the nature of the work in a given unit – by
formulating reasonable and fair ratios describing job performance and the appropriate incentive
systems for a given unit in the Bank.
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[GRI 405-2] Ratio of women’s base compensation to men’s
Bank Millennium Group
2023
2022
2021
2020
Senior management
0.88
0.88
0.86
0.83
Management
0.81
0.79
0.75
0.76
Sales personnel
0.94
0.94
0.92
0.91
Technicians
0.74
0.74
0.72
0.74
Other employees
0.93
0.90
0.79
0.79
All employees
0.87
0.87
0.84
0.84
Bank Millennium
2023
2022
2021
2020
Senior management
0.86
0.88
0.87
0.83
Management
0.81
0.78
0.74
0.76
Sales personnel
0.95
0.94
0.92
0.92
Technicians
0.75
0.75
0.73
0.75
Other employees
0.92
0.88
0.76
0.77
All employees
0.87
0.87
0.84
0.85
[GRI 405-2] Ratio of women’s total compensation to men’s
Bank Millennium Group
2023
2022
2021
2020
Senior management
0.86
0.81
0.78
0.81
Management
0.75
0.74
0.72
0.71
Sales personnel
0.88
0.89
0.85
0.83
Technicians
0.73
0.72
0.73
0.74
Other employees
0.83
0.88
0.85
0.75
All employees
0.82
0.83
0.80
0.78
Bank Millennium
2023
2022
2021
2020
Senior management
0.83
0.79
0.77
0.81
Management
0.76
0.74
0.72
0.71
Sales personnel
0.88
0.89
0.85
0.84
Technicians
0.73
0.72
0.75
0.75
Other employees
0.84
0.87
0.83
0.73
All employees
0.82
0.83
0.81
0.79
The difference in the average compensation of women and men does not include the differences in
geographic location, scope of duties and headcount structure of men and women in various positions
in different areas of the Bank. It should be emphasized that the last factor in particular is of major
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significance for the shaping of the average employee compensation. Most women are hired in the
sales network, while men work chiefly in high technology areas (in the “technicians” category), where
the market, due to a shortage of specialists, dictates significantly higher levels of compensation. The
Bank reviews in detail all factors that may contribute to the differences in employee compensation
between men and women.
[GRI 202-1,3-3] Ratios of standard entry level compensation by gender compared to local minimum
wage in 2023
2023
Men
Women
Total
Bank Millennium Group
148%
146%
147%
Bank Millennium
148%
146%
147%
The above presented ratio refers to the area of Millennium Group’s activity, i.e. Poland.The above
indicator was calculated for the lowest employment category in the Bank Millennium S.A. Capital
Group, which is the position of Assistant.
[GRI 202-1] In relation to persons performing work on a basis other than an employment contract, the
relevant provisions of national law apply, particularly Labour Code.
3.4.5. FREEDOM OF ASSOCIATION
There are two trade union organizations in operation in Bank Millennium. More than 540 employees
belong to the trade unions. The Bank cooperates with the trade unions within the scope defined by
the legal regulations and the Trade Unions Act. [GRI 402-1] The Bank provides employees with
information about changes in the relationship with it as an employer, taking into account the
materiality criterion, in advance specified by the provisions of the labor law, i.e. at least 30 days.
[GRI 2-30] The Bank and companies from the Bank Millennium Group do not have a collective agreement
with employees - employees are not covered by a collective agreement (0%). There are no trade union
organizations in the remaining companies of the Group.
The Bank has in place a number of agreements with trade unions, among others regarding the
remuneration rules and regulations, social fund and bonus rules and regulations, but they are not in
the form of collective bargaining agreements.
The Bank encourages open communication through the “Milleforum” online forum and the World of
Millennium intranet site. These tools serve to inform employees of the most important issues relating
to the Bank while making it possible to submit remarks and exchange opinions on various topics.
Additionally, the HR Department runs an HR Zone intranet site on which it regularly posts all the
information of interest to employees about employee matters.
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3.4.6. EMPLOYEE APPRAISAL
[GRI 404-3] Guidelines for creating the principles of employee evaluation, in particular with regard to
the evaluation of work results and competency assessment, are included in the "Instructions for
conducting employee evaluation at Bank Millennium S.A." Pursuant to this regulation, all employees
are subject to periodic performance appraisals (all employees actively performing work in a given
period).
In the Bank Millennium Group, all units and all categories of employees (senior management staff,
management staff, sales employees, technical employees and other employees) are subject to
periodic performance evaluations. Due to the exclusion from the assessment only of employees who
do not meet the requirements regarding minimum seniority and working time specified in internal
regulations, approximately 98% of employees actively performing work in a given period participate
in cyclical assessment processes.
[GRI 404-3] % of active employees of the Bank Millennium Group taking part in the assessment
Assessed
%
Not assessed
%
Total
%
% of active employees of the
Bank Millennium Group
taking part in the assessment
6,207
98.6%
91
1.4%
6,298
100%
[GRI 404-3] % of assessed active employees of the Bank Millennium Group by gender
% of assessed active
employees of the Bank
Millennium Group by gender
Assessed
%
Not assessed
%
Total
%
Women
3,951
98.5%
60
1.5%
4,011
100%
Men
2,256
98.6%
31
1.4%
2,287
100%
[GRI 404-3] % of assessed active employees of the Bank Millennium Group, divided into employee
groups
% of assessed active
employees of the Bank
Millennium Group, divided
into employee groups
Assessed
%
Not assessed
%
Total
%
Support
2,737
98.2%
50
1.8%
2,787
100%
Sales
3,470
98.8%
41
1.2%
3,511
100%
The assessment is made according to previously communicated, objective criteria. The assessment
includes areas related to business results and employee attitudes that are important from the point
of view of the established goals and mission of the organization. Employees are assessed e.g. in terms
of cooperation, efficiency, quality and the level of commitment to the implementation of the
entrusted tasks, taking into account risk mitigation and the application of the best banking practices.
Depending on the group and the tasks performed, employees are assessed on a monthly, quarterly or
semi-annual basis. The evaluation process is carried out in a regular and structured manner. Superiors
are provided with information and guidelines for conducting an assessment interview with an
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employee. The evaluation process is designed to summarize with the employee the results of the work
done. The supervisor, together with the employee, as recommended by the employer, should discuss
in detail the objectives and tasks to be evaluated that have been accomplished and present the
criteria for the evaluation. In addition, in sales units, the area of providing feedback to employees is
included as part of the criterion of team building and management.
The appraisal process makes it possible to compare the effects of work between employees, while at
the same time fulfilling a motivational and communication function. Employee appraisal is an
important element that can be the basis for bonus recommendations, personnel decisions and
development activities aimed at raising the level of employees' competences.
Promotions*
Bank Millennium Group
Men
Women
Total
Upper management
3%
7%
5%
Management
9%
10%
10%
Sales personnel
35%
23%
26%
Technicians
14%
15%
15%
Other employees
11%
13%
12%
Total
21%
19%
20%
Bank Millennium
Men
Women
Total
Upper management
4%
9%
6%
Management
9%
11%
10%
Sales personnel
36%
23%
26%
Technicians
15%
15%
15%
Other employees
13%
14%
14%
Total
22%
19%
20%
*% of employees in a given group who were promoted
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3.4.7. RECRUITMENT AND PROFESSIONAL DEVELOPMENT
Most job offers in the Bank Group are addressed to internal and external candidates. An employee
who would like to develop his or her skills in some other area than up to now may express an interest
in an internal job transfer.
Selected employees are assigned to interdepartmental projects initiated and supervised by the
Bank’s Management Board. This affords an opportunity to share knowledge and gain new skills.
The number of people transferring internally in 2023 revisited the stable level from prior to the
merger and the pandemic.
* Data for Bank Millennium, without internal recruitment data for other Group companies
Sourcing talent
Employer branding activities are an important part of the Bank’s activity. They are centered on
several prospective employee groups: students and graduates, IT and Digital specialists, sales and
support specialists and business development experts.
We are constantly working to reach the widest possible audience of external talented candidates, so
we have a presence at selected universities, conferences, job fairs, recruitment and image sites and
social media.
For individuals without work experience, we offer internship opportunities through our Summer
Internship Program. It is important for us that young people entering the labour market and focused
on professional development are able to realize their plans in our bank and build competence capital
for the future. The goal of the program is to promote the Bank as an employer and to increase interest
in banking careers. In 2023, Bank Millennium allowed 36 students and recent graduates selected in a
recruitment process to carry out 2- or 3-month internships during the summer holidays. The interns
learned new skills in 14 different departments. The internship program was preceded by carefully
planned promotional activities that were to strengthen the Bank’s position as an attractive employer.
In addition to receiving attractive salaries and obtaining individual development guidance from their
supervisors, the interns were invited to attend training and after the internship was over some of
them received a job offer at the Bank.
In 2023, the Bank was involved in cooperation with renowned universities, including the Warsaw
School of Economics and the SWPS University of Social Sciences and Humanities. Since the Bank is a
member of the Warsaw School of Economics’ Partners Club, its employees take an active part in
meetings with the Club’s Council to discuss elements of the university’s strategy and the possibility
of educating students on key competences. The Bank as a teaching partner of the psychology and
computer science major at the SWPS University of Social Sciences and Humanities introduces students
to practical solutions in the User Experience area. This cooperation allows the Bank to better prepare
professionals for work and actively promote professional opportunities at the bank. Through its
presence and involvement in projects at universities, the Bank enhances its image and builds brand
loyalty among students and graduates.
Once again, the Bank became a partner of this year’s edition of “Economic Bridges”, a nationwide
project implemented by the SGH Student Government and the Forum of Economic Universities. The
Internal recruitment –
Bank Millennium*
2023
2022
2021
2020
2019
Number of employees
105
94
158
753
87
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main goal of the project is to integrate the academic communities of business schools in Warsaw,
Kraków, Wrocław, Katowice and Poznań and to build partnership relations between academia and
business. The projects offers students an opportunity to participate in workshops, case studies,
inspiring lectures and to meet with business people with an extensive track record.
The Bank regularly participates in job fairs, which are well attended by university students and
graduates. Between March and May, the Bank attended seven fairs in Warsaw, Wrocław and Kraków,
organized by, among others, Absolvent Talent Days, Pracuj.pl, Warsaw University of Life Sciences,
Warsaw IT Days, Faculty of Management of the Warsaw University and Gdańsk University of
Technology. Recruiters share information about internships or jobs, present a broad range of career
opportunities in various fields and talk about the recruitment process itself.
The Bank enjoys sharing its knowledge and it was happy to assume the role of a partner and participant
of conferences to acquire knowledge and find professional inspiration. In 2023, Bank Millennium
participated in two conferences devoted to Java software and the Microsoft Azure cloud. The
meetings were addressed to architects, developers, devops, Cloud and Big Data specialists, as well as
university students and young people interested in the IT industry. Our experts were speakers at the
conference. The main purpose of their presentation was to show modern Java programming
techniques and Microsoft Azure cloud solutions. Participants could see how the Bank uses modern
technologies and best practices of modern programming.
The Bank takes advantage of the communication opportunities afforded by social media such as
LinkedIn and Goldenline and popular image and recruitment portals to reach candidates efficiently
with information about benefits of working for the bank and a more effective promotion of job offers.
Rewards for employees
Bank Millennium runs programs rewarding employees who show outstanding commitment.
IMPAKT Employee Reward Program in which employees reward their work colleagues. The Program
integrates the community and builds a culture of cooperation and mutual appreciation. In 2023, 50
employees were recognized for their commitment, improvement of quality, innovative solutions and
accepting challenges to inspire others. The program gala and the awards ceremony took place at the
Verde Hotel in Warsaw with some 110 persons in attendance.
Once a year, best employees and managers are rewarded with the President’s Prize for their
outstanding professional achievements. In 2023, the prizes were presented to 14 employees in the
head office and the sales network.
Training
[GRI 3-3]Training in Bank Millennium is a major part of daily activity and is treated as an investment in
human capital. The purpose of training is to enhance the competences of employees, which translates
into improving quality and work productivity and achieving current and future business objectives.
The area of training is regulated by the Instructions for participation in training programs at Bank
Millennium S.A.
Every year Bank Millennium employees have an opportunity to participate in internal and external
training and in conferences and congresses. As part of the care for employee health, most training
was administered remotely or in a hybrid form, while some was held on-site while observing the
sanitary regime. Some of the training courses were delivered in the form of e-learning sessions.
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Number of e-
learning training
topics
Bank Millennium
Bank Millennium Group
2023
2022
2021
2020
2023
2022
2021
2020
Number and % of
employees who took
advantage of the
offer
1,443**
2,033*
1,002
495
1,460**
2,038*
1,009
490
*The increase stems from migrating training sessions from three external platforms to the Bank’s
internal training platform (Pluralsight, DataCamp, Leanovatica). Approx. 1,500 training course
topics come from the platforms purchased by the Bank. The pandemic has also contributed to
holding more training sessions online.
**A decrease compared with 2022 – data migration from the Leanovatica platform only (new name:
Youniversity)
The matters associated with ESG training are described in chapter 2.5. “Environmental education”.
Introductory training for new employees of Bank Millennium Group - this training was conducted
remotely using MS Teams software and on-site.
Millennium Campus - a program to develop knowledge and skills with the objective of supporting the
growth of innovation across the organization. The offer to participate in this program is addressed to
all employees, it allows them to look at many topics from a different perspective. Lectures are held
online, while recordings and aids are made available on the training platform and via the intranet
under the “World of Millennium”. In 2022/2023, we delivered a series of lectures related to security,
understood in a broad sense.
Development Fridays
The program aims at enabling the exchange of knowledge and experience among the Bank's
employees. Speakers include specialists who share their knowledge and experience through lectures.
The offer to participate in this program is addressed to all of the Bank’s employees. Lectures are held
online, while recordings and aids are made available on the training platform and via the intranet
under the “World of Millennium”.
External training platforms
Employees have access to the Legimi platform, offering business literature and fiction. The Legimi
platform makes it possible to take advantage of an offer of more than 195,000 e-books and
audiobooks. The platform is available to employees on mobile devices (tablets, e-book readers,
smartphones) and private computers. Books may be read or listened to online or offline and may be
used without limitation.
The Bank continues training courses on Professional Agile Leadership - Essentials PAL-E and on
Professional Scrum Product Owner for IT managers.
Training for branch and franchise network employees
▪ Specialist introductory training for new employees in own branches and the franchise
network.
▪ Certification workshop on the Savings and Investment Model (MOI) - prepares people to sell
savings and investment products according to the MIFID regulations and supplies knowledge
about the standards required under the savings and investment model.
▪ “ABCs of phone sales”, “Phone sales – objections”, “Business basics – accounts” for employees
in the own and the franchise networks.
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▪ “Business ABC - basic offer for business clients” - remote training for employees of the retail
network.
▪ “Credit needs model - effective use of sales skills”, “Effective conversation with the client -
‘right on the money’ model”, “Master of Funds” - for own network employees.
▪ “Sales conversation with a business client” development training for the business area, aimed
at improving product and sales knowledge. It is conducted on-site.
▪ Development training entitled “Mortgage after-sales service - loan process and tranches” and
“Mortgage after-sales service - notarial deed and insurance”, “Home construction” in the area
of mortgage loans, aimed at improving product and sales knowledge. It is conducted on-line.
▪ Product and sales training for retail network employees pertaining to credit products,
conducted as part of Development Wednesday, with the aim of preparing employees for credit
certification. Consists of a bundle of 6 training sessions in an online formula.
▪ Product and sales training for retail network employees pertaining to savings and investment
products, conducted as part of Development Wednesday, with the aim of preparation for
investment certification. Consists of a bundle of 6 training sessions in an online formula.
▪ Product and sales training for retail network employees pertaining to mortgage products,
conducted as part of Development Wednesday, with the aim of preparation for mortgage
certification. It consists of one training session delivered in an online formula.
▪ Training sessions for retail network employees presenting an account offering to commercial
undertakings.
▪ The credit and investment certification process consists of intensive workshops culminating
in an exam, which tests the new knowledge, and a review of business conditions. The
workshops are delivered on-site.
▪ The process of conferring mortgage certificates consists of training and an examination
confirming the acquired knowledge and the fulfillment of business conditions. It has the form
of online workshops.
Training for Direct Banking Department employees
• Specialist introductory training for new employees.
• Quality Philosophy Workshops.
• Training in sales techniques: “Active offering”; “Working with numbers”.
• Consolidation loan training to improve product and sales knowledge.
• Insurance training titled “APK in a conversation with the client”; “Loan under protection”.
• Customer service workshops: “Juniors”, “Young adults”.
• Development training called "Become a Mentee" - a course preparing experienced employees
to receive calls in a substantive internal help line.
• Training in the “Academy of Talents” project - use of MS Office and CC tools in the work of a
manager, “Work planning - schedule”, “Effective feedback”, “Running workshops”, “Plain
language”.
• Training for employees of mortgage teams aimed at improving product and sales knowledge
in the area of cash loans.
Training for Corporate Banking Department employees
Employees working in the field of corporate banking participated in a number of training courses
aimed at upgrading their qualifications and extending their knowledge of changing products and
procedures.
The most important training courses concerned the investment loan process, a new module of the
system for handling the lending process and changes to the conditions of opening and operating
accounts. The recent changes brought also KYC training courses.
Key and, most importantly, periodic events include meetings held within the framework of the Public
Aid Pulse initiative, initiated in June. The meetings of experts from the competence center for public
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aid with sales network relationship managers organized every two weeks focus on a comprehensive
overview of the current possibilities of obtaining public aid. Topics discussed support advisors in
preparing clients for further recruitment and discussion about the available possibilities for
investment project financing. Owing to this initiative, advisors can have access to the most up-to-
date information which can be discussed on an on-going basis in a forum focusing on issues of
substance, also on the basis of examples from everyday work.
The Bank regularly provides advisors with knowledge of the current macroeconomic situation and its
impact on the markets and the companies' operations. We do this in the form of monthly webinars
conducted by the employees of the Bank's Macroeconomic Analysis Office. The information is
supplemented by industry analyses made available on the intranet.
Training for employees selling insurance products
On top of product training sessions ending with an exam to confer authorisation to commence the
sales of insurance, Bank employees who sell insurance products went through annual professional
training sessions to enhance their competences in terms of performing tasks involving insurance
intermediation. Besides legal issues much attention during training sessions is devoted to the general
rules and practical aspects of distribution activity.
[GRI 404-2] Management programmes
Manager Certification - a training program for the managers of retail outlets in the Bank's own
network. The following stages are part of this program: The ABCs of a contemporary manager, Goals,
Development, Motivation and Team Building. The program’s goal is to improve the practical
managerial skills of defining, communicating and controlling goals, building team commitment
towards their active achievement and sales team management. Particular attention is focused on
planning development activities and working on competences of employees in reference to the
allocated tasks.
Development training for heads of retail outlets – a training program supporting managers in the
continuation of development of their skills. In 2023, the first of the scheduled training sessions was
launched – “Self-Management in Time”.
M#leaders
In 2023, the Bank completed another edition of the M#leaders leadership skills improvement program.
The 5th edition of the program was addressed to persons holding managerial positions in the head
office and in the Bank's companies. Two training paths were prepared for managers:
▪ M#LEADERS LEADERSHIP FUNDAMENTALS – for persons who did not previously work with the
program,
▪ M#LEADERS LEADERSHIP NEXT LEVEL – for participants of previous editions who were
interested in developing competences at a subsequent level.
The on-site workshops started in January and ended at the beginning of July 2023.
Youniversity
Youniversity is a website providing access to the knowledge and experience of the best trainers from
Poland and abroad. It is a unique content ensuring development both in business and in private life.
It makes it possible for Managers to develop their competences through the use of a streaming service
and knowledge from over 57 thematic areas. New series and video courses are launched even a few
times a month. This allows managers to build a regular development routine.
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Development training for Regional Directors
A series of management training courses delivered by Inspire Leadership to enhance skills and
competencies.
The training program includes the following topics:
1. Motivation (motivation techniques, building intrinsic motivation, building intrinsic motivation in
Managers, ability to maintain motivation in employees, motivation vs. delayed gratification, elements
that influence motivation, practical exercises).
2. Development of managers (the practice of coaching and mentoring conversations, 1:1 coaching
conversations and activities, development conversations).
3. Public speaking (storytelling and motivational speeches).
4. Feedback (giving feedback, for example on the use of routines, on work within branches), skills of
seeking and receiving feedback, positive feedback (with an emphasis on “good” consequences).
5. Mindfulness (how to observe, analyse and discuss the results of observation - e.g. of the work of a
manager, branches), which is mindfulness in a business setting, self-assessment of the observed
person, maintaining data vs. human balance – versatility.
6. Team building (team vs. group - e.g. in connection with the absence of a common numerical goal,
community of problems and ways to overcome them, community of development, gaining knowledge
and sharing experiences, teamwork culture)
7. Situational management (preparation for working with different consultant types in accordance
with the Blanchard method; awareness that guidance may be needed even if you have experience).
Training for the Affluent Client Banking Department
The 1st stage of the Affluent Client Banking Expert Certification - the program consists of two two-
day training sessions delivered in an on-site mode.
The Psychology of Client Decision Making training is delivered by AD Training and its purpose is to
improve the effectiveness of sales through developing skills in identifying and adapting the
communication style – client typology, handling clients' concerns and doubts and finalizing the sale.
The Financial Markets and Investing training conducted by Alfred Adamiec. The purpose of the training
is to broaden and systematize knowledge of financial markets and investing. Issues concerning the
money market, debt or equity instruments, the foreign exchange market, the business cycle,
investment funds, a portfolio made up of financial instruments and the methods of overcoming
difficult situations in a relationship with a Client are discussed during this training.
Level 3 EFPA EFA financial advisor training This level confirms that the advisor is capable of working
individually with middle-income/affluent clients, has good understanding of the diversity of client
needs and profiles, and can package financial products to meet client expectations. An EFPA EFA
advisor focuses on long-term cooperation with the client, which requires regular monitoring of the
client’s standing and the products used by the client. An EFPA EFA advisor should also be able to
identify situations in which it is appropriate to seek assistance of experts in specialised fields. At the
end of the Course, participants take an international exam and receive the EFPA EFA (European
Financial Advisor) certificate.
EFPA ESG advisor training. The certificate confirms that an advisor has knowledge of the basics of
sustainable investments, the characteristics and benefits of sustainable finance, is able to identify a
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client’s interest in sustainable investment, to ultimately select ESG products that match with the
values and objectives important to the client. A holder of the EFPA ESG Advisor certificate is a trusted
financial and business advisor to a client who is aware of and committed to the development of ESG
in Poland in terms of environmental, social and governance issues.
[GRI 404-1] Average number of training hours by gender and position
Bank Millennium
Women
Men
Total
Average number of hours per
employee
50.1
42.0
47.2
Management Board
-
58.1
58.1
Senior management
23
23
23
Management
43.2
39.9
41.5
Sales personnel
62
60
61.4
Technicians
21.4
19.9
20.7
Other employees
18
16.3
17.5
[GRI 404-2] On account of the small number of employees in retirement age, no programs are currently
being run to support the continuity of employment and facilitate the process of retiring. Individual
training sessions, however, are possible upon request.
Training in the form of webinars as part of the DIVERSITY is OK! initiative
This initiative is based on the Diversity Charter. We want to reach the largest possible number of male and
female employees, so we have decided to organize meetings in the form of webinars. We pay attention
to gender, age, salary, well-being at work, building relationships through proper communication,
dysfunction, international culture. We want to make sure that each person within the organization feels
important and that what makes us different could unite us and create synergy in the workplace.
Since March 2023, we have organized webinars on Body Positivity, Gender Equality, Gender Pay Gap,
Communication in Multigenerational Teams, Feminatives, and She and He in Business - Synergy Effect.
The materials are available on the Cornerstone training platform.
First aid training
In 2023, we organized a series of first aid training. Interested employees had the opportunity to take
part in on-site first aid training (in the Bank’s Head Offices in Warsaw, Gdańsk and Wrocław) and in
short forms of on-line instructions conducted by qualified rescue workers cooperating with SEKA. In
addition, we also proposed workshops for children of our employees (implemented in BM Head Offices)
The project was met with great interest and its goal was to spread the knowledge of how to safely
administer first aid in life-threatening or health-threatening situations.
Bank Millennium Group
Women
Men
Total
Average number of hours per employee
48.7
40.7
45.8
Management Board
0.0
58.1
58.1
Senior management
23.3
23.2
23.3
Management
41.0
38.7
41.0
Sales personnel
62.0
60.0
61.4
Technicians
20.2
19.2
20.2
Other employees
17.2
16.0
17.2
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3.4.8. SOCIAL BENEFITS
[GRI 401-2,3-3] Bank Millennium Group employees are offered the same social and benefits in kind
regardless of the type of the employment agreement (for a definite/indefinite term) and the working
time (part-time/full-time) and the place of working. The amount and scope of benefits depend on
the employee’s life and financial situation.
The Bylaws of the Company Social Benefit Fund regulate the Bank’s social activity. According to these
Bylaws, the Bank pursues the following initiatives:
▪ conducting leisure, cultural, sporting, recreational and tourist activity,
▪ organising events and group meetings,
▪ providing material or financial assistance,
▪ providing financial assistance in individual events of chance, a particularly difficult financial,
family or life situation (financial assistance that does not have to be repaid), also in states of
emergency or epidemiological risks.
The subsidiaries tap into the social benefits offering offered by the Bank but they finance it using
their own Social Benefits Funds.
Hardship assistance
Under their social assistance the Bank and subsidiaries offer assistance to employees who are in a
particularly difficult financial, family or life situation. Retired employees can also apply for aid after
their employment ends due to their difficult financial or health situation.
Benefits awarded to Bank employees
2023
2022
2021
2020
Financial assistance (PLN)
545,420
695,465
517,320
388,550
Number of employees who received financial
assistance
118
158
122
120
Life insurance
Employees may join a group life insurance on preferential terms. The insurance covers life and health
of the insured and their family members. Six insurance variants are available so that everyone can
match the offer to their needs.
Life insurance
Bank Millennium Group
Bank Millennium
2023
2022
2021
2020
2023
2022
2021
2020
Number and % of
employees who took
advantage of the offer
3 033
(44%)
3 034
(43%)
3 267
(46%)
2 982
(44%)
2 924
(45%)
2 932
(44%)
3 120
(47%)
2 840
(45%)
MyBenefit cafeteria platform
[GRI 403-6] We have a cafeteria platform that allows you to make online purchases of various products
and services from the Company Social Benefits Fund. On the platform, an employee can take
advantage of the offer of over a thousand different benefits, in particular the offer of tourist, cultural,
sports and recreational services. The employee independently chooses which benefits he is interested
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in and realizes them at any place and time. The platform also includes a MultiSport sports card, which
comprehensively provides employees with access to various sports activities, such as a swimming pool,
gym, fitness, squash, as well as dance lessons, yoga classes, martial arts and a climbing wall. By using
the card, employees have the opportunity to lead a healthy and active lifestyle. Additionally, they
can purchase a sports card for their loved ones at specially negotiated price conditions. Retired
employees can also benefit from the offer of a sports card after termination of their employment as
part of a specially dedicated card for seniors.
Christmas benefit
Before Christmas, employees can count on financial support in the form of a Christmas benefit. The
benefit amount varies depending on a given employee’s financial situation.
3.4.9. FRIENDLY WORKPLACE
[GRI 3-3] In addition to providing attractive working conditions, development and social support, Bank
Millennium supports employees returning to work after a maternity/parental leave, and encourages
participation in charitable activities, employee volunteerism, sports and cultural activities.
[GRI 401-3] Returning after maternity/parental leave
Bank Millennium Group
2023
Total
Men
Women
2023
2022
2021
2020
Employees entitled to leave
12
485
497
616
711
821
Employees who took leave
10
307
317
349
407
472
Returned to work after leave
8
280
288
329
364
438
Employed 12 months after returning
from leave
1
256
257
282
330
198
Percentage returning after leave
80%
91%
91%
94%
89%
93%
Percentage of employees retained by
the Bank who returned from leave
100%
78%
78%
78%
75%
84%
Bank Millennium
2023
Total
Men
Women
2023
2022
2021
2020
Employees entitled to leave
12
471
483
592
686
798
Employees who took leave
10
297
307
333
397
459
Returned to work after leave
1
312
313
313
355
426
Employed 12 months after returning
from leave
1
242
243
273
318
195
Percentage returning after leave
80%
91%
91%
94%
89%
93%
Percentage of employees retained by
the Bank who returned from leave
100%
78%
78%
77%
75%
84%
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Individual approach to the form and time of work
Bank Millennium Group employees are subject to one of the following working hour schedules: fixed
(the main one), shift-based, task-based or balanced. The selection of a system depends on the type,
organisation and place of work and the business requirements in a specific area.
In response to an employee’s written request, their superior may set an individual work time schedule
within the framework of the system applicable to that employee. Working remotely is also possible
through individual arrangements. Employees may work part-time insofar as the conditions for the
Group to operate in a given area facilitate that. Many employees with parental rights are taking
advantage of this solution.
Work in a hybrid mode
The hybrid work mode developed and widely used during the COVID-19 pandemic has been introduced
in the Bank Millennium Group. The Bank recommends that employees work 50% of time in the office
and 50% on a remote basis, with the organizational unit Managers being authorized to modify these
proportions as the needs require in connection with the tasks and projects in progress and the
effectiveness achieved by employee teams. Such a solution makes it possible to combine the needs
of the employees with the interest of the employer.
Employee volunteerism
The actions taken by volunteers of the Bank Millennium Group in 2023 are described in section
“Socially beneficial activities”.
3.4.10. APPOINTMENT, ELECTION AND ASSESSMENT OF GOVERNING
BODIES
[GRI 2-10,2-18]Supervisory Board Members are appointed for a joint term of office. The Supervisory
Board’s term of office is 3 years (the term of office is calculated in full financial years). Supervisory
Board Members are elected by the Shareholder Meeting. The Supervisory Board has at least five
members. At least half of the Supervisory Board members, including its Chairperson, should hold
Polish citizenship. At least two Supervisory Board members should be independent members. The
number of the Supervisory Board members is determined by the Shareholder Meeting. Should the
membership in the Supervisory Board terminate before the expiry of the term of office, the next
Shareholder Meeting fills the vacancy on the Supervisory Board. The Supervisory Board elects its
Chairperson, Deputy Chairpersons and Secretary from among its members. The Supervisory Board may
establish standing or ad hoc committees of the Supervisory Board. The Supervisory Board’s standing
committees are the Audit Committee, the Personnel Committee, the Strategic Committee and the
Risk Committee. With respect to the Audit Committee, the Bank's Articles of Association stipulate
that the majority of the members of this committee, including its chairperson, are independent
members.
The Supervisory Board determines the number of the Bank’s Management Board members, and
appoints and dismisses the President, Vice-Presidents and the Bank’s Management Board members.
Management Board Members are appointed for a joint term of office. Management Board Members
are appointed for three years (the term of office of the Management Board is calculated in full
financial years). The Bank's Management Board has at least three members, including the President.
The Vice President or Vice Presidents may also be appointed to the Management Board. Shareholders
and persons other than shareholders may be appointed to the Management Board. At least half of the
Management Board members should hold Polish citizenship. The Supervisory Board approves the
internal division of powers in the Management Board determined by the Management Board.
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Before Management Board members and Supervisory Board members are elected, the Bank may assess
their individual and collective suitability for the role with the participation of an external advisor.
The assessment is conducted in accordance with the methodology of the Polish Financial Supervision
Authority. The evaluation of the Management Board is carried out by the Supervisory Board. However,
as the Shareholder Meeting elects the Supervisory Board, the evaluation is made by the Shareholder
Meeting.
The suitability assessment made in the process of electing Management Board members and
Supervisory Board members takes into account all available information about the candidates that
may affect the election, including competences necessary to manage the company's impact on
economic, environmental and social issues. The Bank also takes into account the diversity of
education, professional experience and competence, nationality, gender and age when appointing
members of the governing bodies, as well as – in the case of the Supervisory Board members – their
independence as defined in general regulations.
The Bank's Management Board is assessed by the Personnel Committee of the Supervisory Board. The
Committee evaluates the actions of the Management Board on the basis of an assessment of financial
performance (economic indicators) in relation to the achievement of intended goals, also in the
context of the actions of competitors and the market situation, an assessment of risk management,
and an assessment of non-financial elements, in particular the quality of leadership, human capital
management and cooperation between the various areas of the Bank. The awarding of variable
remuneration for Management Board Members for 2022 was based on an assessment.The majority of
the Personnel Committee members are independent Supervisory Board Members. A comprehensive
assessment of the Management Board is made once a year on the basis of the economic results
achieved by the Bank. In addition to the above powers, the Personnel Committee supervises the
Management Board's activities as regards the implementation of the HR policies and monitors the
Management Board's activities in the HR area. The Personnel Committee positively assessed the
activities undertaken by the Management Board. No changes to the composition of the Management
Board were proposed.
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3.5. EMPLOYEE HEALTH AND SAFETY
3.5.1. MEDICAL CARE
[GRI 3-3, 401-2] The private medical care plan allows employees to have access to basic and specialist
medical consultations, detailed diagnostic tests and prevention programs. The medical package is
offered to employees employed under an employment contract (for a fixed/indefinite period) with a
minimum of half-time employment. The scope of the medical package provided to an employee varies
depending on the position held. In each case, employees can purchase various medical packages for
immediate family members (spouse, children, parents, also siblings). Retired employees can also
continue private medical care after termination of employment on preferential terms.
In 2023, the medical service provider was changed and the scope of medical services offered in the
standard medical package was expanded. As part of the newly negotiated scope of the medical
package, employees gained access to a larger number of specialist doctors, medical procedures and
access to comprehensive medical diagnostics. Standard medical packages include, among others,
access to limited psychological consultations, health prevention programs (vaccinations, laboratory
tests), as well as periodic dental check-ups extended to include dental prophylaxis. As part of
permanent, annual health prevention, a medical diagnostic program is available, focused on the most
common cancers in women and men.
3.5.2. OHS STANDARDS
[GRI 3-3, 403-1, 403-6] Occupational Health and Safety activities are regulated in the Instructions for
managing occupational health and safety and fire protection in Bank Millennium. They include
standard occupational health and safety topics, fire protection, labour law basics and training in these
areas.
[GRI 403-1, 403-2] The OHS audit activity is a scheduled activity based on the annual audit plan, which
covers at least 50% of all the Bank’s branches in any given year. All the materials from reports, post-
inspection recommendations or post-accident documentation are then used by the Bank’s relevant
organizational units for improvement of safety. The key risks related to failing to observe OHS rules
pertain to the possibility of employees sustaining unfavourable health consequences (chiefly falling,
getting hit, mental and physical burdens), the ensuing absence from work and the requirement to
disburse damages. The essence of the adopted solutions is to ensure the Bank's capacity to
continuously identify hazards in all areas of its business, including those arising from cooperation with
other entities, cooperation with subcontractors, and to manage the risks associated with these
hazards. The “Defect Reporting” system currently being implemented with the main purpose of rapid
and direct elimination of hazards, will improve the efficiency of identification of threats.
The causes and circumstances of work-related accidents are investigated not only to fulfill insurance
obligations but also to educate and prevent any additional undesirable events (post-accident
recommendations). All the materials from reports, post-inspection recommendations or post-accident
documentation are then used by the Bank’s relevant organizational units for improvement of safety.
An effective way of preventing these types of risks is to deliver training to employees and administer
regular inspections of offices and the Bank’s branches with an eye to compliance with the rules of
fire protection and OHS. All new employees are familiarised with the occupational risk assessment for
individual jobs.
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[GRI 403-3] The health care provided to employees comprises occupational medicine services, including
preventive healthcare examinations for employees during their working hours and at the employer’s
expense.
[GRI 403-4] The Bank cooperates with trade union representatives within the framework of the OHS
Committee and with Social Labor Inspectors whom it consults about OHS issues and working
conditions.
[GRI 403-5] All new employees take part in obligatory OHS and fire protection training. The
management staff is additionally obliged to attend regular refresher and complementary training in
this field. Depending on the needs, the Training Team organises first aid training.
[GRI 403-7] The Bank restricts cash handling in retail outlets, which significantly mitigates risks related
to and adverse effects of crime (physical and mental injuries).
[GRI 403-9]
Occupational health
and safety
Bank Millennium Group
Bank Millennium
2023
2022
2021
2020
2023
2022
2021
2020
Accidents at work *
29
28
40
36
28
28
39
34
Fatal accidents at
work *
0
0
0
0
0
0
0
0
Lost days ratio **
0.02%
0.04%
0.07%
0.08%
0.02%
0.04%
0.07%
0.07%
Absence rate ***
6.33%
7.54%
9.00%
11.20%
6.51%
7.73%
9.33%
11.85%
OHS training ****
Number of
participants
5,354
1,677
1,264
1,175
5,032
1,516
1,181
1,099
% of participants
78%
24%
18%
17%
78%
23%
18%
17%
Branch audits
139
139
292
197
142
142
306
197
*Number of employees who had accidents.
**Impact exerted by accidents and occupational disease on employee absenteeism. This indicator is
computed by comparing the total number of days lost with the total number of hours planned to be
worked.
***Indicator measuring an absent employee’s actual number of days lost expressed as a percentage
of the total number of days planned to be worked by employees in this same timeframe.
****Introductory and periodic training (conducted once every 5 years).
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BANK IN SOCIAL ENVIRONMENT
3.6. SOCIAL ENVIRONMENT
[GRI 2-29] In 2023, it was assumed that the findings from the revision of the Bank Group's stakeholder
list presented in the 2022 ESG Report are still valid, which was confirmed during the workshop held
on 24 November 2023 with representatives of the Bank and the Bank’s Group units. The stakeholder
matrix is illustrated in the chart below.
3.7. COMMUNICATION WITH STAKEHOLDERS
[2-29] The stakeholders’ expectations and opinions are taken into account when innovations and
improvements are made to the Bank’s products, services and operations. In 2023, the Bank updated
the matrix of important topics as part of a dialogue with representatives of various stakeholder
groups. The process is described in detail in section “Defining the content of the report – dialogue
with stakeholders” of this report.
The feedback from stakeholders is received additionally from the following sources:
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Stakeholder
Communication channels
Topics raised
Bank's actions
INVESTORS
AND MARKET
ANALYSTS
▪ Shareholder Meeting
▪ Roadshows
and conferences
▪ Meetings
▪ Stock exchange
communication
and press releases
▪ Dedicated website
(reports,
presentations etc).
▪ Transparent activity,
quick
and easy access to
information about the
Bank, ethical
and socially responsible
business.
▪ Compliance with
corporate governance
rules, ensuring
transparency, security
and ethical
character of
operations, quick
exchange of
information through
multiple
communication
channels with
shareholders.
CLIENTS
▪ Branches, Internet
and mobile
banking,
▪ Intranet, community
forum,
▪ Hotline
▪ Complaints
▪ Satisfaction surveys
▪ High quality of
products and services
offered, ethical
marketing
and selling practices,
safety of deposited
funds, ease of use of
products
and communication
with the Bank,
improvements in
accessibility
of the Bank’s services
and non-banking
services.
▪ Fast and easy access
unfettered by obstacles
to banking and non-
banking services,
ethical advertising and
sales, providing explicit
information about the
conditions for using
services, easy contact
with the Bank, ensuring
the safety of client
funds.
EMPLOYEES
▪ Intranet, Internet,
community forum
▪ Whistleblowing system
▪ Market analyses
▪ Employee evaluation
▪ Stability of
employment
and professional
development
opportunities, fair
salary, friendly working
conditions, possibility
to engage in social
activities.
▪ Communication
with employees
and responding to their
expectations,
professional
competence
development
programmes,
programmes for
parents, co-funding of
activities outside the
workplace, and
employee volunteerism
offer.
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SUPPLIERS /
BUSINESS
PARTNERS
▪ Periodic meetings
▪ Telephone, e-mail
▪ Negotiations
and performance of
agreements
▪ Fair rules for selecting
and cooperating with
suppliers.
▪ Use of objective
procedures for
selecting suppliers;
timely performance of
agreements; selection
of suppliers
in consideration of
ethical and
environmental criteria.
SOCIAL
ENVIRONMENT
▪ Offers of cooperation
▪ Contacts with NGOs
▪ Meetings with
students
▪ Employee
volunteerism
▪ Supporting social
projects by the
company and
employees.
▪ Merit-based and
financial support for
social projects;
financial education;
encouraging employees
to take part in social
and volunteering
campaigns.
ENVIRONMENT
(ORGANISATIONS
INVOLVED IN
ENVIRONMENTAL
PROTECTION
ACTIVITIES)
▪ Environmental
rankings
▪ Monitoring changes in
market trends and
legislation
▪ Reducing our own
unfavourable impact on
the environment,
engaging in responsible
project finance,
environmental
education.
▪ Monitoring
lowering impact on the
environment, rules
governing the provision
of funding for projects
exerting an impact on
the environment,
environmental
education programs.
REGULATORS
(KNF, BFG,
UOKIK, NBP,
KSF)
▪ Reports
▪ Communication
▪ Regulatory audits
▪ Recommendations
regarding Bank’s
activity.
▪ Reporting and
implementing
recommendations
provided by regulators.
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3.8. SOCIALLY BENEFICIAL ACTIVITIES
[GRI 203-1] Social programs are chiefly run by Bank Millennium through the Bank Millennium Foundation.
The Foundation’s statutory and strategic goal is to support social activism to build a modern civic
society through educational activities, volunteerism and promotion of culture. Its mission,
“multiplying social capital” refers to the support given to projects that encourage action for the
benefit of local communities. The foundation activates, supports and educates. Its social programs
pertain to financial education, patronage of culture, academic education and employee volunteerism.
In 2023, the Bank’s and Foundation’s social activities also focused on ecology and protection of the
planet. Activities for the benefit of the natural environment are an integral part of Bank Millennium’s
strategy, through which it pursues numerous initiatives aimed at reducing or eliminating any negative
environmental impacts. In 2023, the Bank and the Bank Millennium Foundation launched a new edition
of the employee volunteerism program: OUR PEOPLE’23: SAVE THE PLANET, within the framework of
which more than 217 employee volunteers implemented 26 eco-initiatives. The sports part of the
campaign, in which 1,508 people participated, brought about reduction of carbon dioxide emissions
by 71 tons.
[OWN
DISCLOSURE 9]
Donations
(D) and
sponsorship
(S) in PLN
Bank Millennium Group
Bank Millennium
2023
2022
2023
2022
D
S
D
S
D
S
D
S
Culture
589,170
550,509
589,170
550,509
Education
551,958
489,041
448,000
107,137
551,958
489,041
448,000
102,137
Charitable
activities
294,402
341,443
294,402
341,443
Sports
Media
Social
organizations
196,936
36,900
840,000
79,057
196,936
36,900
840,000
79,057
Trade unions
Other
5,000
18,209
5,000
18,209
Total
1,048,296
1,133,320
1,629,443
736,703
1,048,296
1,133,320
1,629,443
731,703
[GRI 413-1] Social engagement commitments of the Bank Millennium Group are defined in the “Bank
Millennium S.A. Sustainability Policy”, of which the following documents published on the Bank’s
website (https://www.bankmillennium.pl/en/about-the-bank/esg#zasady-esg), are an integral part:
▪ Sustainable Development Principles
▪ Principles of Social Impact
▪ Corporate Volunteerism Principles
The following regulations apply to 100% of entities and therefore for all operational activities in the
Bank Millennium Group in relation to the local community understood as the entire territory of Poland.
The Bank Millennium Group does not provide financial and in-kind support to political parties and
politicians.
The Bank is involved in numerous activities to engage local communities, support their development,
and assesses and monitors its impact on local communities. Activities supporting local communities
are described in detail in chapters 3.8.1 - 3.8.4 of the ESG Report.
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3.8.1. EDUCATION PROGRAMS OF BANK MILLENNIUM FOUNDATION
[GRI FS16] Since 2016, the Bank Millennium Foundation has been running its own financial education
program for kindergarten children, called the “Financial ABCs”, as part of which it has organized
education workshops in various formats to teach financial knowledge to kids, their parents and pre-
school teachers. It has been consistently aiming at reaching the minds of kids and their carers and
has been successful in accomplishing this objective. The program is carried out in accordance with an
original concept by professional instructors and Bank Millennium volunteers.
The Foundation continued the program in 2023 on an on-site basis and successfully concluded its two
successive editions (10th and 11th). The Financial ABCs Workshops meet the current needs and
respond to changes in children's awareness, which are due to the important role that the virtual world
plays in their lives. The youngest students learned about money and its value. The program is
addressed to children of pre-school age (3-6 years) and envisages the introduction of kids into the
world of finance through play and interesting meetings with a lot of attractions. The workshops are
delivered in cooperation with the Verba Foundation.
In 2023, as part of the tenth and eleventh editions, the Foundation implemented more than 400
workshops in 119 kindergartens nationwide and reached nearly 10,000 preschoolers. This year's
activities activated the children's community - during the activities, the children used specially
prepared coins and banknotes. The s workshops were held, as always, with the participation of
program volunteers and the main character and the key mascot of the program – Sebastian.
In 2023, the program has again been enriched with knowledge of cyber security, new forms of payment
(BLIK), payments made over the Internet and new technologies. Participants in the Financial ABCs
classes explored financial literacy through talks, games and using the foundation's educational
materials. The workshop program enabled children to become acquainted with new technological
possibilities which are to be available for them in the adult world, but which they can explore today.
The goal of the Financial ABCs is to teach and activate children about finances and security, from an
early age. In the workshops, knowledge about the value of money, its forms, the ability to plan and
save, and how to navigate the world of finance consciously and safely is taught in an interactive way.
In addition, Bank Millennium Foundation has made educational materials available to parents,
teachers and other persons interested through its website, social media and YouTube channel. These
include: tutorials providing guidance on effective financial education for the youngest children;
articles explaining how to teach about saving, entrepreneurship, charity, technology and operations
of a business; a series of interviews and videos available on YouTube.
This year's program has been run under the honorary patronage of the Ministry of Finance, which
additionally confirms that the course adopted for the program development is appropriate, the
Foundation's statutory objectives are accomplished and the program has an educational value.
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3.8.2. CHARITABLE CAMPAIGNS AND EMPLOYEE VOLUNTEERISM
Our People’23: Save the Planet
[OWN DISCLOSURE 8] The Bank Millennium Group attaches great significance to the involvement of its
staff in social campaigns. In order to enable their pursuit of their own volunteerism ideas, internal
competitions are held to motivate the bank community to be active, in which grants to be used for
the execution of the employees’ charitable projects are conferred. Within the Bank Millennium Group,
community-focused initiatives are managed by the Bank Millennium Foundation.
Bank Millennium and the Foundation are not indifferent to environmental problems, which is why an
employee volunteer program called Our People'23: Save the Planet was implemented in 2023, focused
primarily on protecting our planet, targeting all employees of the Bank and the Group. In 2023,
employee volunteers took care of the needs of the Earth, putting eco-values first. The Foundation
has committed to the goal of raising environmental awareness and promoting ecological values such
as: separation of waste, increasing the number of plants in our spaces, protecting animals and forests,
and raising environmental awareness among the public.
The program is divided into two interdependent parts: sports challenge and eco-volunteering.
The sports part of the campaign was based on engaging employee volunteers in sports activities. Each
kilometer covered and calorie burned contributed to the stated goal of donating 250,000 PLN to the
Bank Millennium Foundation. 1,508 volunteers became involved in the activities, traveling a total of
311,444 kilometers and burning 18 million calories between 24 April and 25 June 2023. The campaign
not only promoted ecological values, but also encouraged a healthy lifestyle with intensive physical
activity, which in turn benefits not only our health and well-being, but also the environment. To
achieve their exercise goals, our volunteers gave up driving or taking public transportation and instead
walked, ran, or biked. As a result, we saved 71 tons of carbon dioxide.
As part of the second part of the campaign, 26 different eco-initiatives were implemented thanks
to the amount donated to the Foundation. The eco-volunteerism collectively engaged 125
volunteers. The eco-initiatives required volunteers to: be engaged in their work, be open to the local
communities, plan for the long-term impact of their pro-environmental activities, use raw and
recycled materials, and minimize purchases. The campaign created an ideal space for creative and,
importantly, charitable ideas. As a result, each of the initiatives was unique.
For the Our People’23: Save the Planet grant program, the Bank Millennium Foundation has allocated
more than PLN 250,000.
3.8.3. PATRONAGE OF CULTURE
For more than 30 years, cultural involvement has been an important part of Bank Millennium’s social
activities. The Bank supports cultural undertakings with a national and local range alike. It is a 360°
patron of culture, promoting art in nearly all its manifestations, including music, painting, sculpture,
film, theater, photography, literature and performance. Its supports niche and popular culture. Its
assumption is to be a long-term partner. For 18 years, it has been a patron of the Millennium Docs
Against Gravity festival, the largest film festival in Poland, for over 20 years, it has sponsored the
International Festival of Traditional Jazz “Old Jazz Meeting Złota Tarka”, and it has also been a long-
time sponsor of the Lidzbark Humor and Satire Nights, one of the most important Polish cabaret
events. For 17 years, the Bank funded the Golden Scepter award for outstanding creators of culture,
for 11 years, the Bank was the patron of the “Millennium Pearls” (“Perły Millennium”) joint program
of Bank Millennium and Polish TV (TVP), whose purpose was to produce, promote and present artistic
events in the high art realm on Polish TV. It has also sponsored the Sacrum Profanum contemporary
music festival, the Bella Skyway Festival - a multimedia show prepared by an international group of
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artists, the “Two Theaters” Festival, the Gdańsk Music Festival, the Mozart Festival in the Warsaw
Chamber Opera, and many other events. In 2022, the Bank took the patronage of the exhibition of
the works of Polish photographers arranged under the name “Solidarity”, showing the drama of
refugees from the war-torn Ukraine and the extraordinary solidarity of Polish people towards them.
The exhibition was shown in Gdańsk, Warsaw and Chełm.
In 2023, Bank Millennium became a partner of the Inside Seaside festival, a new event on the Polish
music scene. The Inside Seaside Festival is an important new cultural event with a good and diverse
musical program and accompanying events for music lovers from all over Poland. The organizers chose
a new formula and an unusual date for music festivals, filling a gap in the Polish music market.
In addition, the Bank once again took patronage of the "Cultural Start-up." This is an initiative of the
city of Gliwice, which supports innovative ideas, unique events and art at the highest level. This is a
proprietary program of the Victoria Cultural Center in Gliwice addressed to organizations, artists,
animators, organizers of events and workshops – both professionals and amateurs – who have
something unique to offer in the field of culture and art.
Millennium Docs Against Gravity Film Festival
The most important cultural project endorsed by the Bank is the Millennium Docs Against Gravity
festival. It is the largest film festival in Poland and a major documentary film festival in the world.
Bank Millennium has been a partner of the festival for 18 years, and is also the founder of the festival's
grand prize.
In May 2023, the round 20th edition of the Millennium Docs Against Gravity festival took place, once
again in the hybrid formula. The festival presented 190 of the best documentaries from around the
world, both short and feature-length. They were accompanied by meetings with artists and
protagonists and debates on important issues addressed on screen. Like every year, the festival
touched on a number of important issues - from ecology, through diversity, politics, psychology,
human rights, art, pop-culture, to family relations. The festival was held in eight cities and online on
the festival's platform for the first time. The 20th edition of the Millennium Docs Against Gravity
festival was attended by over 144 thousand people.
The Millennium Docs Against Gravity Film Festival is the biggest celebration of documentary cinema
in Poland and its popularity is growing every year. The authors of the festival, as well as its patron -
Bank Millennium - want to bring knowledge about the modern world to as many people as possible.
The festival's presence in multiple cities and, starting in 2020, online, allows the best documentaries
from around the world to reach a wide audience. Thanks to that Millennium Docs Against Gravity
achieves its main goals - film and social education, bringing audiovisual culture to a wide audience,
not only in big cities, but also in smaller centers.
3.8.4. SUPPORTING EDUCATION – COOPERATION WITH FINANCIAL
INSTITUTIONS
[GRI 203-1] A permanent feature of the activities aimed at supporting students and graduates is support
for educational activities through the active participation of the Bank employees in workshops,
conferences or debates.
In 2023, the Bank continued its cooperation with the Warsaw School of Economics, supporting it in
improving the quality of its infrastructure, as well as students and graduates in developing their
competencies and interests. An example of long-time cooperation is the coworking center established
by Bank Millennium and the Warsaw School of Economics. It is free-of-charge space for meetings,
networking, consultations with business theoreticians and practitioners. The coworking center
constantly serves students and graduates who have founded or are planning to found their own startup
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and want to bump their ideas up to business reality. Since 2017, the Bank has been a member of the
Warsaw School of Economics’ Partners Club and closely cooperates with this educational institution
by playing an active role in academic life. Bank representatives take part in meetings with the Council
of the Warsaw School of Economics’ Partners Club during which elements of the WSE’s strategy and
the possibilities of educating students on key competences are discussed.
The Bank is committed to developing future leaders of the banking industry and is helping students
to develop their skills. As part of the cooperation with the university, a representative of the bank
acted as a speaker, focusing on the practical aspect of corporate banking. The event was attended
by students from the SGH Banking SKN, who are preparing for careers in corporate banking. The
lecture was also an opportunity for an inspiring exchange of views between the generations.
Continuing the educational partnership with the psychology and computer science major at the SWPS
University of Social Sciences and Humanities, the Bank introduced students to practical solutions in
the User Experience area. This type of collaboration makes it possible to share expertise, better
prepare professionals for work and actively promote career opportunities at the Bank.
Once again, the Bank was a partner in this year's edition of "Economic Bridges", a nationwide project
run by the SGH Student Union and the Forum of Economic Universities. The main goal of the project
is to integrate the academic communities of business schools in Warsaw, Kraków, Wrocław, Katowice
and Poznań and to build partnership relations between academia and business. The projects offers
students an opportunity to participate in workshops, case studies, inspiring lectures and to meet with
business people with an extensive track record.
In December 2023, Bank Millennium and Kozminski University entered into a strategic partnership
based on the joint implementation of socially significant projects that will affect the future of
education. The cooperation agreement was signed by Joao Bras Jorge – Chairman of the Bank
Millennium Management Board, and prof. Grzegorz Mazurek, Rector of the Kozminski University. At
the same time, the Bank has joined the ranks of donors of the first endowment capital in the Polish
academic community, which allows financing the development of young generations, academic staff
and scientific research. The strategic partnership is a unique form of cooperation in which the parties
provide each other with material support, implement joint communication and educational
initiatives, and one of the university's lecture halls will be branded with the Bank Millennium logo,
reminding students and listeners of the bank's close support.
Bank Millennium was a sponsor of the IT Azure Summit 2023, the largest Polish conference devoted
to the Microsoft Azure computing cloud. The Bank’s representative gave a lecture on facts and myths
of the Azure Landing Zone.
In May, Bank Millennium participated in Javeloper2023, the largest Polish conference on Java and
software architecture. The event was addressed at architects, developers, devops, security, cloud
and big data specialists and gathered more than 1,500 participants online. A representative of the
Bank gave a presentation on Vavr - enhanced functional programming capabilities in JAVA.
As part of the internship program targeted at students and graduates of institutions of higher
education, interns were offered the opportunity to develop their knowledge and skills in such fields
as IT, HR, finance, risks, marketing, project management and electronic banking. In 2023, the summer
internship program was expanded to include internship opportunities not only in Warsaw, but also in
Wrocław, Gdańsk, Kraków and Katowice. The interns were invited to participate in training on soft
skills and agile methodologies used at Bank Millennium.
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3.8.5. SUPPORTING DIVERSITY
European Diversity Leader
The Bank is a signatory to the Diversity Charter and takes steps to support diversity within the banking
community and outside the organization. The Bank has received the title of “European Diversity
Leader 2024” from Financial Times. The ranking was based on feedback from more than 100,000
European employees and human resources and recruitment experts. The research firm Statista is a
substantive partner of the project.
The surveys gave employees the opportunity to rate their employers’ diversity practices and to share
their perceptions of the practices of other leading employers in the industries they represented. This
year, the ranking’s authors added three new indicators to the analysis: the percentage of women in
management positions (such as executive committees, management boards, supervisory boards),
diversity-related communication, and the diversity score calculated by the data provider. The idea
was to make the results of the ranking more reflective of the reality experienced by employees.
Employee surveys now account for 70 percent of a company's final score, and these new indicators
account for up to 30 percent of the overall score.
The “European Diversity Leaders 2024” ranking presents a list of 850 companies with the highest
scores in the survey. Bank Millennium was ranked 262nd with an index of 73.36 points. Bank
Millennium is ranked sixth among Polish companies, but in the context of the domestic banking sector
it achieved the highest score.
DIVERSITY IS OK!
This is an initiative, in which we want to ensure that every person in the organization feels important
and needed. We pay attention to gender, age, salary, well-being at work, building relationships
through proper communication, dysfunction, international culture. We want to make sure that what
makes us different unites us and creates synergy in the workplace.
Since March 2023, we have organized webinars on Body Positivity, Gender Equality, Gender Pay Gap,
Communication in Multigenerational Teams, Feminatives, and She and He in Business - Synergy Effect.
This year we are starting with topics on disability, communication and working in cross-cultural teams.
We are open to topics that employees want to discuss in order to spread a positive attitude towards
diversity and openness to the fact that we are all different. At the same time, we want to foster
empathy and understanding for each other, despite differences within teams, to make working
together effective.
Support for female Paralympic athletes
In 2023, Bank Millennium again supported Paralympic athletes as part of the #CorinneRunsForGood
campaign, thereby helping them continue their strive for achievements in sports and personal lives.
For the third time, as part of Bank Millennium’s support for Paralympic athletes, Bank Millennium
funded a scholarship for one of them. The bank contributed to the fundraising campaign for this
purpose, working with Martyna Wojciechowska's Unaweza Foundation and the #CorinneRunsForGood
campaign.
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Millennium Docs Against Gravity Film Festival
The 20th anniversary edition of MDAG took place from 12 to 21 May 2023 in cinemas in eight Polish
cities: Warsaw, Wrocław, Gdynia, Poznań, Katowice, Łódź, Bydgoszcz and Lublin, and online - from
23 May to 4 June 2023 on the mdag.pl platform. Bank Millennium has been a sponsor of the Millennium
Docs Against Gravity Festival and has financed the main prize since 2006. This year’s edition of MDAG
attracted 6,000 more people to arthouse cinemas and the website than it did in 2022. The festival
continues to grow in popularity, with a total of 144,483 people participating in both parts of the
festival. Nearly 190 of the best documentaries from around the world were presented, both short and
feature-length. The festival was accompanied by dozens of additional events held in theaters and
online. Workshops, discussions and psychological support as part of the Safe Space, inclusive language
workshops, a VR section and exhibitions of posters and drawings in the festival cinemas were just
some of the new features presented during the 20th edition of the festival. Every year, an important
part of the Millennium Docs Against Gravity program are films devoted to ecology in the “Climate for
Change” section, as well as films focused on queer and LGBTQ+ issues. This year, MDAG opened the
Pride Month with a discussion associated with the WE'RE HERE, WE'RE QUEER section, which explores
the lives of LGBTQ+ people in different parts of the world through documentary films.
In order to enable the broadest possible audience to participate in the Festival, in particular by
including blind and visually impaired people, seniors, viewers with dyslexia and intellectual
disabilities, selected films and screenings were projected during the festival with subtitles for the
deaf and with the option of a verbal description of the visual content over headphones.
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MANAGEMENT
4.1. APPLICATION OF CORPORATE GOVERNANCE PRINCIPLES
The Bank operates on the basis of good practices in the ESG (Environmental, Social, Governance) area
and complies with the principles of corporate governance. The company is listed in WIG-ESG - the
WSE's index of socially responsible companies - and has been reporting on issues relating to running a
responsible business for several years.
Best Practice for Listed Companies
On 29 March 2021 the Supervisory Board of the Warsaw Stock Exchange adopted new corporate
governance rules for companies listed on the WSE Main List - “Best Practice for GPW Listed Companies
2021” (hereinafter referred to also as ‘Best Practice 2021’, ‘BPLC2021’). Best Practice 2021 replace
the previous document, in force since 2016, reflecting current trends in corporate governance. Best
Practices 2021 entered into force on 1 July 2021, and the deadline for submitting the first report on
their use was set for July 31, 2021.
As in previous years, in 2023 the Bank guided by the principle of transparency of its actions in shaping
corporate and investor relations, as well as the highest quality of communication with shareholders,
the Bank complied with the principles of Best Practice. The confirmation of employing the
recommendations contained in Best Practice is the document “A statement on the company's
compliance with the corporate governance recommendations and principles contained in Best
Practice for GPW Listed Companies” published on the Bank’s website.
As regards recommendation IV.R.2 item 2 and 3, regarding ensuring for the shareholders the
opportunity to participate in a General Meeting of Shareholders (hereinafter, also ‘General Meeting’
or ‘GM’) with the use of real-time two-way electronic communication where shareholders may address
4. GOVERNANCE
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a General Meeting of Shareholders from a location other than the General Meeting and exercise, in
person or through a plenipotentiary, their voting rights in the course of the General Meeting – in the
Bank’s opinion - the implementation of this rule during a General Meeting carries technical and legal
risks to the correct and efficient conducting of a General Meeting. Avoiding these risks constitutes a
bigger value for the shareholders than the implementation of the rule from part IV, Recommendation
IV.R.2, item 2 of Best Practice. The Bank, ever since 2008, has been providing real-time online
broadcasts of the proceedings of General Meetings, in accordance with the requirement specified in
part IV, Recommendation IV.R.2 item 1 of Best Practice. At the same time, the Bank, within
implementing Best Practice 2021, provided shareholders with a technical possibility of real-time, two-
way communication during the proceedings of General Meeting.
Principles of Corporate Governance for Supervised Institutions
As a financial institution, the Bank since the beginning of 2015 has also been subject to the "Corporate
Governance Principles for Supervised Institutions".
The Bank’s Management Board and the Supervisory Board took resolutions on the application of the
Principles, with the exception of § 16 sect. 1 and § 24 sect. 1, concerning the holding of meetings of
the Bank’s governing bodies (Management Board and Supervisory Board) in the Polish language.
The knowledge of the English language by members of the Management Board enables full mutual
understanding and a proper level of communication during meetings. Moreover, the practically
implemented principle of holding meetings of the Supervisory Board both in Polish and in English, with
the assurance of essential assistance of an interpreter, also ensures mutual understanding and a
proper level of communication.
The Supervisory Board assessed that the solutions and mechanisms used at the Bank to implement and
execute the Principles satisfactorily take into account the objectives set out in the Principles in
connection with the needs for optimal organization of the Bank's activities.
Recommendation Z
As an entity supervised by the KNF, the Bank has also aligned its activities with the internal
governance principles described by the KNF in Recommendation Z, the current version of which came
into force on 1 January 2022.
The Supervisory Board assesses that the Bank implemented the principles arising from
Recommendation Z to a satisfactory extent, taking into account the changing internal situation and
environment of the Bank.
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4.2. GOVERNANCE STRUCTURE
[GRI 2-9] According to the Articles of Association of Bank Millennium, the Bank's authorities are the
General Shareholders' Meeting, the Supervisory Board and the Management Board.
General Shareholders' Meeting
General Shareholders' Meeting – inter alia considers and approves financial statements and reports on
the activities of the Bank and the Bank's Capital Group, adopts resolutions on the distribution of
profits or coverage of losses, discharges Members of the Bank's governing bodies from the
performance of their duties, elects and dismisses Members of the Supervisory Board and determines
their remuneration, adopts resolutions giving opinions on the Supervisory Board's remuneration report.
Supervisory Board
The Supervisory Board exercises supervision over activity of the Bank, including, as regards operation
of risk management and internal control systems. It also determines the number of Members of the
Bank's Management Board, appoints and dismisses the Chairman, Deputy Chairmen and other Members
of the Bank's Management Board, and determines their remuneration.
The Supervisory Board may set up standing or ad hoc committees, comprising Supervisory Board
Members for performing specified supervisory tasks. Standing committees of the Supervisory Board
are: Audit Committee, Personnel Committee, Strategic Committee and Committee for Risk
Matters. Most Members of the Audit Committee, including its Chairman, are independent in the
meaning of the Act on statutory auditors, audit firms and public supervision. The Supervisory Board
consists of 12 Members (9 men and 3 women). Seven Members of the Supervisory Board, including
its Chairman, are Polish citizens. Seven Members of the Supervisory Board are not connected with a
shareholder holding at least 5% of the Bank's shares. The term of office of the Supervisory Board is 3
full financial years.
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[GRI 2-9]
Composition of the Supervisory
Board of Bank Millennium
Function
Term
Bogusław Kott
Chairman of the Supervisory
Board
3-year term; appointment on
24.03.2021
Nuno Manuel da Silva Amado
Deputy Chairman of the
Supervisory Board
3-year term; appointment on
24.03.2021
Dariusz Rosati
Deputy Chairman
and Secretary of the
Supervisory Board
3-year term; appointment on
24.03.2021
Miguel de Campos Pereira
de Bragança
Member of the Supervisory
Board
3-year term; appointment on
24.03.2021
Olga Grygier-Siddons
Member of the Supervisory
Board
3-year term; appointment on
24.03.2021
Anna Jakubowski
Member of the Supervisory
Board
3-year term; appointment on
24.03.2021
Grzegorz Jędrys
Member of the Supervisory
Board
3-year term; appointment on
24.03.2021
Alojzy Nowak
Member of the Supervisory
Board
3-year term; appointment on
24.03.2021
José Miguel Bensliman Schorcht
da Silva Pessanha
Member of the Supervisory
Board
3-year term; appointment on
24.03.2021
Miguel Maya Dias Pinheiro
Member of the Supervisory
Board
3-year term; appointment on
24.03.2021
Beata Stelmach
Member of the Supervisory
Board
3-year term; appointment on
24.03.2021
Lingjiang Xu
Member of the Supervisory
Board
3-year term; appointment on
24.03.2021
[GRI 405-1] Supervisory Board of
Bank Millennium by gender
Men
Women
Total
9 (75%)
3 (25%)
12 (100%)
[GRI 405-1] Supervisory Board of
Bank Millennium by age group
Men
Women
Total
[30-50]
0 (0%)
0 (0%)
0 (0%)
≥50
9 (75%)
3 (25%)
12 (100%)
Total
9 (75%)
3 (25%)
12 (100%)
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[GRI 2-9] A description of the competences relevant, inter alia, from the point of view of managing the
economic, environmental and social impact of the company, and information on other functions
performed by Members of the Bank's Supervisory Board are available, in relation to each of these
persons, on the Bank's website:
https://www.bankmillennium.pl/en/about-the-bank/corporate-bodies-and-governance/supervisory-
board
[GRI 2-11] In 2023, the Chairman of the Supervisory Board did not hold any managerial or supervisory
function in the Bank Millennium Group. However, he was Member of the Bank Millennium Foundation
Board (hereinafter referred to as Foundation). The founder of the Bank Millennium Foundation is the
Bank, while pursuant to its Articles of Association the Foundation does not conduct business activity.
Management Board
[GRI 2-9] The Bank’s Management Board manages the overall activity of the Bank and represents it
externally. Based on the fundamental organisational structure approved by the Supervisory Board,
the Management Board defines the detailed organigramme of the Bank. The Management Board
defines the principles of functioning and organization of work at the Bank as well as the principles of
its HR policy. In addition, the competences of the Management Board include, inter alia, preparation
and submission to the Supervisory Board and the General Shareholders' Meeting reports and other
documents concerning the Bank’s operation, convening the General Shareholders' Meeting,
establishing internal bank regulations, appointment of committees authorized to constantly monitor
specific matters. The Management Board of the Bank consists of 7 Members. Four Members of the
Management Board are Polish citizens. The term of office of the Management Board lasts 3 full
financial years.
Composition of the Management Board of
Bank Millennium
Function
Term
Joao Nuno Bras Jorge
Chairman of the
Management Board
3-year term; appointment
on 24.03.2021
Fernando Maria Cardoso Rodrigues Bicho
Deputy Chairman of the
Management Board
3-year term; appointment
on 24.03.2021
Wojciech Haase
Member of the
Management Board
3-year term; appointment
on 24.03.2021
Andrzej Gliński
Member of the
Management Board
3-year term; appointment
on 24.03.2021
Wojciech Rybak
Member of the
Management Board
3-year term; appointment
on 24.03.2021
António Ferreira Pinto Júnior
Member of the
Management Board
3-year term; appointment
on 24.03.2021
[GRI 405-1] Management Board of
Bank Millennium by gender
Men
Women
Total
7 (100%)
0 (0%)
7 (100%)
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[GRI 405-1] Management Board of
Bank Millennium by age group
Men
Women
Total
[30-50]
0 (0%)
0 (0%)
0 (0%)
≥50
7 (100%)
0 (0%)
7 (100%)
Total
7 (100%)
0 (0%)
7 (100%)
[GRI 2-9] A description of the competences relevant, inter alia, from the point of view of managing the
economic, environmental and social impact of the company and information on other functions
performed by Members of the Bank's Management Board are available, in relation to each of these
persons, on the Bank's website:
https://www.bankmillennium.pl/en/about-the-bank/corporate-bodies-and-
governance/management-board
As part of the management structure, the Chairman of the Bank's Management Board is responsible
for supervising the area of sustainable development.
[GRI 2-11] In 2023, the Chairman of the Management Board of Bank Millennium was the Chairman of
the Supervisory Boards of the following subsidiaries of the Bank Millennium Group: Millennium Leasing
and Millennium Goodie (in each of them Bank Millennium held a 100% share in the capital).
Performance of these functions enables to exercise ownership supervision over the activities of the
above subsidiaries. These subsidiaries materially supplement the banking services provided by Bank
Millennium and make an important component of the Group’s financial offer.
Apart from performance of supervisory functions in the above subsidiaries, the Chairman of the
Management Board of Bank Millennium was the Deputy Chairman of the Supervisory Board of the
BankMillennium Foundation.
Bank’s Committees
The following Committees operate in the Bank:
▪ Commercial Committee
▪ Credit Committee
▪ Risk Committee
▪ Capital, Assets and Liabilities Committee
▪ Processes and Operational Risk Committee
▪ Investments and Costs Committee
▪ Liabilities at-Risk Committee
▪ IT Steering Committee
▪ Personnel Committee
▪ Validation Committee
▪ AML Committee
▪ Product Committee
▪ Sustainability Committee
Chairman of the Management Board of the Bank is the Chairman of the Sustainability Committee. The
Committee comprises all Members of the Bank Management Board as well as representatives of units
performing tasks related to sustainable development in the Bank and the Bank’s Capital Group.
Meetings of the Committee are held not less often than once a quarter. The scope of the Committee's
tasks includes recommending a sustainable development strategy to the Bank's Management Board,
adopting operational plans related to the implementation of this strategy and monitoring the
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implementation of planned activities, assessing the impact of sustainability principles on the Bank's
operations, approving and monitoring KPIs and KRIs in the area of sustainable development, providing
the Bank's Management Board with periodic information on key aspects related to sustainable
development.
Management structure in the Bank’s Subsidiaries
The entire Management Board of Bank Millennium sits on the Supervisory Boards of the following
subsidiaries: Millennium Leasing Sp. z o.o. and Millennium Goodie sp. z o.o. In the Supervisory Boards
of other Bank Millennium subsidiaries, Members of the Bank's Management Board constitute the
majority of the Supervisory Board, with the exception of a new company in the Group's structure -
Millennium Financial Services sp. z o.o., which does not have a supervisory board. Additionally, in the
case of Millennium Bank Hipoteczny S.A. (apart from 4 Members of the Management Board of Bank
Millennium S.A.), the Supervisory Board in accordance with the law consists of independent members.
Pursuant to the Act on covered bonds and mortgage banks, at each mortgage bank, on the request of
the supervisory board of such bank, the Polish Financial Supervision Authority appoints a trustee and
at least one deputy trustee. On 20 May 2021, the Polish Financial Supervision Authority, at the request
of the Supervisory Board of Millennium Bank Hipoteczny, appointed a Trustee and Deputy Trustee at
Millennium Bank Hipoteczny.
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4.3. MANAGEMENT APPROACH TO SUSTAINABLE DEVELOPMENT
The basis for defining the approach to managing sustainable development is an agenda formulated
by the United Nations that includes 17 goals, 169 targets, and 304 indicators. Bank Millennium
signed a declaration regarding the implementation of the UN Sustainable Development Goals in
2017.
The Bank is guided by all 17 goals, but the following goals receive the highest attention:
3.
Good health and
well-being
4.
Quality education
5.
Gender equality
8.
Decent work and
economic growth
9.
Industry,
innovation and
infrastructure
13.
Climate action
17.
Partnering for the
goals
As of 2018, the Bank is a signatory to the Diversity Charter. The Charter is a pledge signed by
organizations that choose to prohibit discrimination in the workplace and work to create and promote
diversity.
In Bank Millennium, actions towards sustainable development are an integral part of the business
strategy. The ESG area is also included in the Group’s new strategy for 2022-2024, adopted by the
Management Board and approved by the Supervisory Board, and in the ESG Strategy adopted by the
Management Board and published in 2022. This issue is discussed in detail in Section 1.4 of this report
("ESG is an integral part of the new strategy for 2022-2024").
Bank Millennium’s priority is to provide the highest quality of client service, conduct ethical marketing
and sales and facilitate the utilization of banking and non-banking services (e.g. e-administration) by
introducing facilities for people with disabilities and innovative services. Also employees are the
recipients of ESG activities. In addition to ensuring stable and attractive working conditions and
offering an opportunity to get involved in social activities the Bank promotes diversity in the
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organization. Social programs are run through the Bank Millennium Foundation and focus primarily on
financial education and development of employee volunteerism.
The Bank also attaches great importance to environmental and climate protection issues and carries
out its activities in the spirit of the strategy formulated by the European Union and its member states.
The Bank has defined its approach to these issues in the "Environmental Policy of the Bank Millennium
Group". These issues are discussed in detail in chapter 2.1. "Managing Environmental Impacts and
Climate Protection".
Organization of the ESG area management process
[GRI 2-12, 2-13] The Bank’s Management Board is responsible for effective management of the
sustainable development area in the Bank in respect to environmental, social and corporate
governance issues, while the Bank’s Supervisory Board oversees this process.
Within the Management Board, the sustainability area is supervised by the President of the
Management Board, while ESG risk management is supervised by the Bank's Management Board
Member responsible for Risk.
The Management Board is provided with ample information and reports to enable the exercise of
control over processes aimed at determining and managing the organization’s economic,
environmental and social impact, including periodic reports on all key aspects of the Bank’s business.
To this end, the Management Board’s control activities are also carried out by committees established
within the Bank’s structures. In this process, information obtained from the Bank’s stakeholders is
also taken into consideration, such as that regarding employee matters or issues arising from
complaints or customer service surveys. For instance, the Process and Operational Risk Committee
prepares reports on client complaints and actions taken by the Bank on issues identified in the
complaint handling process and reports on the quality of the customer service process and studies of
client needs. A key role in these endeavors is also played by the Sustainable Development Committee
whose activities have been described later in this section.
The Supervisory Board also receives, in some instances through its committees, information on key
aspects of the Bank’s business, including aspects related to its economic, environmental and social
impact. For example, the Audit Committee analyses issues related to the complaint process and
actions taken by the Bank in relation to issues identified in this process. The Supervisory Board Risk
Committee accepts information on risk appetite metrics, including those related to the ESG area.
Moreover, a global assessment of the Bank’s activities, including the management of economic,
environmental and social issues, is performed by the Supervisory Board based on the Bank’s reports
published annually. They are analyzed and presented at the Shareholder Meeting and form the basis
for granting a discharge to the Bank’s Management Board on the performance of its duties in a given
financial year.
[GRI 2-17] Members of the Management Board and Supervisory Board of the Bank and the Bank
Millennium subsidiaries are covered by trainings adequate to their roles, knowledge and experience.
These trainings are also designed to increase their knowledge, skills and experience related to
sustainable development.
Bearing in mind the growing significance of sustainable development for the Bank Millennium Group’s
business, in 2021 the Bank established within its structures the Sustainability Committee and the
Sustainability Office, which was then, in accordance with the resolution of the Management Board
adopted in December 2023, transformed into the Sustainability Department.
The Sustainability Committee is chaired by the President of the Bank’s Management Board. The
Committee is composed of all members of the Bank's Management Board, as well as representatives
of the units performing tasks related to sustainable development in the Bank and the Bank's Group.
The Committee meetings are held not less frequently than once a quarter. The Committee's tasks
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include recommending a sustainable development strategy to the Bank's Management Board, adopting
operational plans related to the implementation of this strategy and monitoring the implementation
of the planned actions, evaluating the impact of sustainable development principles on the Bank's
activity, approving and monitoring KPIs and KRIs in the area of sustainable development, providing
the Bank's Management Board with periodic information on key aspects of sustainable development.
A Sustainability Department is supervised directly by the President of the Bank’s Management Board.
The purpose of the Department is to supervise and coordinate the implementation of sustainable
development principles in the Bank and the Bank's Group. The scope of the Department’s tasks
includes, among others: coordination of work related to the sustainable development strategy,
cooperation with other units of the Bank and entities of the Bank's Group in the implementation of
the sustainable development principles, ensuring identification of risks related to climate change in
the Bank's operations, cooperation with other units of the Bank in the implementation of sustainable
products, conducting activities aimed at promoting sustainable development principles among the
Bank's employees.
Sustainability activities in the respective reporting areas are the responsibility of the individual units
of the Bank and the Bank’s Group in accordance with their areas of responsibility, forming an integral
part of the business, and distinct areas of activity are assigned to employees holding senior
management positions (those reporting directly to the President of the Management Board or
members of the Management Board of either the Bank or the pertinent Group companies).
Adverse impact mitigation processes
[GRI 2-25] Considering the issue of the adverse impact of the Bank Millennium Group’s operations on
the environment, we primarily focus on the impact caused by the Group’s operating activity, resulting
in the consumption of resources and generation of waste or greenhouse gas emissions that are specific
to the banking business. In this context, among other initiatives, we have undertaken to take actions
aimed at reducing our carbon footprint. These commitments are included in the ESG Strategy for
2022-2024 and cover, among others: reduction by 50% of own greenhouse gas emissions in 2022
compared to 2020, achieving climate neutrality in relation to own emissions (by 2027) and full climate
neutrality (by 2050).
Employees of the Group’s companies are also encouraged to bring to management’s attention other
potential areas of the Group’s adverse impact, in particular those identified by handling complaints
reported by customers. Our commitments in this respect involve the roll-out of targeted actions in
response to the issues brought to our attention by these stakeholders.
The Bank has an effective process in place for handling complaints reported by clients. Such reporting
may take any form that is convenient to clients: by mail, by phone, via a message sent through the
Bank’s online system or in person at any branch. The Customer Relations Unit, is responsible for
handling customer complaints. The staff of this department scrutinize every reported problem and
prepare a comprehensive response for the customer. In examining a complaint, the Bank strives to
get to the bottom of the issue and propose a solution tailored to the situation of the respective client.
Our priority in communication with customers is to convey a comprehensible, transparent and friendly
message, which is why we follow the plain language policy.
Moreover, our Customer Relations Unit examines complaints and comments submitted by clients using
all available communication channels, including those reported directly to the Bank’s Management
Board or to the Bank’s Spokesperson.
The fundamental principle applied to the handling of customer complaints is openness to working out
an arrangement with the client, which may, for instance, be applied in mediation proceedings
conducted before the Financial Ombudsman or a banking arbitrator.
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In each and every instance when the client’s claims are rejected, the Bank informs the client about
the available paths of appealing against the decision.
The Customer Relations Unit is expected to identify areas that may exert an adverse impact on clients,
analyze such information and forward it to the pertinent units within the Bank’s or the Group’s
structures. Moreover, the Customer Relations Unit prepares proposals for changes in the Bank’s
products, services or processes with a view to reducing the number of complaints or eradicating their
causes. We have been pursuing this objective continuously for several years under a program dubbed
the Voice of Customer.
The Bank’s complaint handling process is subject to a monthly survey designed to monitor the degree
of customer satisfaction and contentment with distinct aspects of the complaint process. The survey
is conducted in the form of a survey containing open and closed-ended questions. In a regular monthly
survey, we ask a randomly selected sample of customers to share their opinions with us. According to
the average outcome of the satisfaction survey conducted in 2023, over 85% of our customers are
satisfied or very satisfied with the complaint process.We also conduct ad hoc surveys used to collect
information from clients, regarding selected aspects of the process. For instance, we analyze the
satisfaction of clients making complaints about Profit Savings Accounts. For such customers we have
a dedicated program Close The Loop 2.0. Its aim is to use the customer's feedback to improve the
products and services provided by the Bank and thereby increase customer satisfaction.
A regular in-depth analysis of the survey results translates directly into changes in the complaint
process, such as reducing the time necessary for the handling of complaints or changing the method
of communication on various issues. We pay particular attention to the comments of those customers
who are very critical of our complaint process. We have a dedicated Close The Loop 2.0 program for
such clients. Its goal is to use the Customer's feedback to improve the products and services provided
by the Bank and thus increase Customer satisfaction.
We also monitor the effectiveness of the complaint process on a quarterly basis by applying dedicated
key performance indicators (KPIs) and key risk indicators (KRIs). Whenever significant deviations of
such indicators from acceptable levels are identified, we carry out additional analyses and, on an as-
needed basis, plan and take pertinent remedial actions.
The Bank also has a process in place that enables each employee to report any behavior they perceived
as concerning, especially from the ethical viewpoint. This process is described in more detail in
section 4.8.5“Mechanisms for requesting advice and reporting potential irregularities”.
Confirmation of the quality of conducted activities in market assessments
The Bank’s adherence to sustainable development principles has been confirmed by external
assessments. Since 2010, the Bank has been included in the Warsaw Stock Exchange’s index composed
of companies fulfilling the highest standards of corporate social responsibility. In 2010-2019, the Bank
was included in the Respect Index, and since 2019 it has been incorporated in the WIG-ESG index,
which is created by attaching additional weights to companies in the form of an ESG (Environmental,
Social and Governance) rating provided by the global ratings firm Sustainalytics and by conducting a
corporate governance assessment by the Warsaw Stock Exchange.
Bank Millennium has an ESG rating of "A" by MSCI and "Medium Risk" by Sustainalytics.
In 2023, the Bank was once again awarded the CSR Gold Leaf, the highest category of distinction in
the Polityka weekly ranking. Bank Millennium was also included in the Financial Times’ “European
Diversity Leaders” ranking. This is a list of European companies prepared periodically by the elite
business and financial daily in cooperation with the research company Statista. It also received the
title of European Climate Leader in a ranking also compiled by the Financial Times and Statista.
Bank Millennium was also included in the first edition of the World's Most Trustworthy Companies
2023, organized by Newsweek and Statista.
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4.4. RISK MANAGEMENT
The mission of risk management in the Bank Millennium Group is to ensure that all types of risks,
financial and non-financial, are managed, monitored, and controlled as required for the risk profile
(risk appetite), nature and scale of the Group's operations.
The goals of the risk management mission are achieved through implementation of the following
actions:
▪ Development of risk management strategies, credit policy, processes and procedures defining
the principles for acceptance of the allowable level of particular types of risk,
▪ Increasingly wider implementation of the IT tools for risks identification, control, and
measurement,
▪ Increasing awareness of employees as regards their responsibility for proper risk management
at every level of the Group's organizational structure.
Detailed information on risk management (including the risk management and control model, the risk
management process, the division of competences in the field of risk management, the adopted Risk
Strategy, as well as the rules and policies in this area) have been published in the Management Board
Report on the activity of Bank Millennium S.A. and Capital Group of Bank Millennium S.A. in 2023.
4.5. ETHICAL STANDARDS AND HUMAN RIGHTS
[GRI 3-3] The Bank Millennium Group has a system in place for managing ethics that consists of the
following:
▪ Code of Ethics – lays down our ethical principles. The Compliance Department is responsible
for articulating the principles described in the Code, communicating and evaluating the
adherence to the principles of ethics;
▪ By its actions and conduct, the Bank's Management Board promotes high ethical and
professional standards, including in particular an awareness of the importance of risk in the
Bank's business and a risk culture;
▪ Ethics Officer – the function of the Ethics Officer is exercised by the head of the Compliance
Department. The tasks of the Ethics Officer include safeguarding the compliance with the
Code of Ethics, promoting and disseminating information about ethical standards, ordering
inspections of compliance with ethical principles and verifying cases of their breach;
▪ system for training in ethics and notifying changes in the rules of ethics;
▪ procedures, policies and rules containing guidelines on proper conduct;
▪ system for reporting breaches of ethical standards, also anonymously;
▪ rules of ethics compliance monitoring system - the Compliance Department at least annually
assesses the risks associated with ethics violations. A report from the assessment is drafted,
which is presented to the Bank’s Management Board. The Bank's Management Board
periodically verifies and assesses compliance with the rules of ethics in order to adjust them
to the changing internal situation in the bank and the bank's environment, and at least once
a year informs the Supervisory Board about the results of the assessment.
The Code of Ethics contains principles and values that should guide employees in the performance
of their duties and in their relations with their colleagues and with the Bank as an employer. The
Code also sets out guidelines for relations with clients, the market and suppliers, referring to such
areas as: respect for human rights, quality of service, ethical sales, fair competition and
communication, focus on ensuring long-term continuity and sustainable development, principles for
conducting business relations, anti-money laundering, anti-corruption, including rules on accepting
and giving benefits, and participation in and organization of tenders. The Code of Ethics also applies
to franchisees and employees at franchise locations.
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Every employee is obligated to become familiar with the Codeby completing a mandatory e-
learning course, confirm their knowledge and apply the rules included in the Code in their daily
work. Moreover, the Bank has appointed an Ethics Officer whose responsibilities include safeguarding
compliance with the Code of Ethics, promoting and disseminating information about ethical standards,
ordering inspections of compliance with ethical principles and verifying cases of their breach.
Notwithstanding the above, employees receive mandatory training in the area of managing conflicts
of interest and information considered confidential. These materials are intended to sensitize
employees on how to identify and handle situations, which in any way may cause a conflict between
the interests of Bank Millennium and the client, as well as how to handle information, which is or may
be price-sensitive and its disclosure could affect the price of financial instruments.
As part of such training, employees also learn what responsibilities (including legal orders and
prohibitions) are associated with conflict situations and with coming into possession of price-sensitive
information. The role of employees as those who must actively identify their own behavior as well as
that of other employees and clients is highlighted in the examples.
All the above-mentioned training makes up a mandatory package of regulatory training that every
Bank employee is required to undergo.
Trained on the Code of Ethics *
Bank Millennium
Bank Millennium Group
2023
2022
2021
2023
2022
2021
Managerial staff trained in the year
32
25
22
33
28
25
2.7%
1.85%
2.29%
2.66%
1.93%
2.43%
Other employees trained in the
year
909
1,320
1,064
949
1,422
1,108
16.18%
19.20%
18.38%
16.27%
18.98%
18.25%
Total percentage of trained
managers
95.44%
94.50%
94.09%
95.44%
94.33%
93.99%
Total percentage of trained other
employees
97.51%
94.20%
93.10%
97.43%
94.09%
92.97%
* Number and % of persons trained on the Code of Ethics in the analyzed group (managerial staff and
other employees). The training covers all persons employed in the Bank Millennium Group.
To ensure safety of the funds entrusted by clients, full information on the principles of operation of
products and their advertising and sales Millennium Towarzystwo Funduszy Inwestycyjnych, apart
from applying the Bank Millennium Group’s Code of Ethics, also complies with the law binding on
investment fund companies.
Employees have the possibility to report violations of ethical standards via email or postal mail
(also anonymously). Whenever an irregularity is discovered in the business conduct of the Bank’s
employees (other than Management Board Members), it may be reported by e-mail to a dedicated
address or by letter directly to the President of the Bank’s Management Board (this channel ensures
the anonymity of the reporting individual). As regards the identification of irregularities in the
business conduct of the Bank’s Management Board Members or Supervisory Board Members, the
respective report should be made by letter directly to the Chairperson of the Audit Committee of the
Bank’s Supervisory Board.
In 2023, there were no reported breaches of the Bank's rules of ethics.
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The issues concerning respecting human rights are described in the Bank Millennium Group’s Code of
Ethics, the diversity policy as well as in anti-discrimination and anti-mobbing procedures.
In 2022, the Bank adopted the “Bank Millennium S.A. Sustainability Policy” with the “Human Rights
Principles” forming its integral part, as published on the Bank’s website at
(https://www.bankmillennium.pl/o-banku/esg#zasady-esg).
The Bank Millennium Group acts with respect for human dignity, opposes discriminatory practices
and observes the right to equal treatment irrespective of gender, age, disability, race and ethnic
origin, skin color, ancestry and territory of origin, religion, nationality, political beliefs, trade union
membership, creed, sexual orientation, employment for a definite or indefinite period of time, full-
time or part-time employment, and other premises, which expose an employee to discriminatory
behaviors. Such information does not constitute a criterion for selecting employees, terminating their
employment, setting terms and conditions of employment, promotion, or access to benefits or training
to improve professional qualifications.
In the Bank Millennium Group, employees enjoy, among others, the right to information and
consultation, social and housing assistance, good working conditions and access to health care. The
Group's policies and the results of their application are described in the "Employees" section. The
Human Rights Principles may be found at https://www.bankmillennium.pl/o-banku/esg#zasady-esg
and in chapter 1.5 of this Report – „Approach to sustainable development”.
Every supplier taking part in a tender procedure must undertake to observe the rules included in
the Bank Millennium Group’s Code of Ethics, including the respect of human rights and compliance
with anti-corruption policies, by signing a representation to that effect. A clause requiring
compliance with the Code of Ethics is also included in contracts with suppliers.
In addition, Bank Millennium has provisions in its lending rules and regulations for corporate clients
requiring all clients to abide by the principles of environmental protection and respect for
employment rules.In addition, the rules and regulations contain certain restrictions regarding the
financing of socially harmful activity featured on the EBRD Environmental and Social Exclusion List.
Clients are obligated not to use funds from the loan in any way linked to the activities mentioned on
the EBRD Environmental and Social Exclusion List.
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4.6. THE BANK IN THE MARKET ENVIRONMENT
4.6.1. RELATIONS WITH THE CAPITAL MARKET
Communicating with the investors’ community the Bank assures a high level of transparency and
proper access to information for all its recipients. Accurate and up-to-date information is provided in
keeping with relevant legal regulations. The list of information published by the Bank, defining the
frequency and place of publication, is available on the Bank’s website in the Investor Relations section
– in section of Information Policy https://www.bankmillennium.pl/en/about-the-bank/investor-
relations/information-policy .
The investor relations website https://www.bankmillennium.pl/en/about-the-bank/investor-
relations always provides up-to-date information, including Bank Millennium share prices on the WSE,
shareholding structure, details of General Meetings, dividend payment history or credit ratings. There
are also current and periodic reports, financial results presentations, Excel sheets with key financial
information and other important information about the Bank. It is worth noting that the website is
responsive, which means that it is adapted to mobile devices - tablets and smartphones.
The Bank uses various communication channels in order to reach the present and potential
Shareholders, mainly such as:
▪ regular conferences with the participation of the Management Board on the quarterly
performance of the Bank’s Group (four in 2023),
▪ participation in conferences organized for investors in Poland and abroad (6)
▪ individual and group meetings with capital market players (307),
▪ current stock exchange reports (41) and press releases,
▪ dedicated website in the Bank’s portal on investor relations,
▪ encouraging people to participate in the annual Shareholder Meeting,
▪ ongoing contacts with market participants (by e-mail or telephone).
In keeping with best practice on equal access to information from 2006 the Bank has been assuring
unrestricted access to results conferences online with the Management Board (video streaming in
Polish and in English) and by phone. A recording of each conference is available on the Bank’s website.
The Bank also provides video streaming of General Meetings. A recording of the deliberations and the
resolutions adopted are also available on the website.
Bank Millennium is covered by 12 analysts representing local and international brokerage houses who
publish their reports and recommendations for Bank Millennium shares. The full list can be found on
the Bank's website https://www.bankmillennium.pl/en/about-the-bank/investor-relations/analysts .
As at 31 December 2023, the recommendation structure (not older than 6 months) was as follows:
Buy
Hold
Sell
4
2
1
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4.6.2. COOPERATION WITH TRADE ORGANIZATIONS
[GRI 2-28] The Bank is a member of a number of industry organizations operating on a regional, national
and international level. Some of them focus on the area of corporate business (Chambers of
Commerce, Trade and Industry), others - on improving relations and knowledge of employees with
specific competencies (Polish Chamber of Statutory Auditors or Institute of Internal Auditors). The
most important industry organizations are: Polish Confederation Lewiatan (representing the interests
of employers in Poland), Polish Association of Listed Companies, ACI Poland Financial Markets
Association, Polish Association of Factors, Polish-Portuguese Chamber of Commerce, Polish
Association of Developer Companies and the Polish Association of Capital Investors, Pomeranian
Employers, Polish Business Council, SinoCham Polish-Chinese Main Chamber of Commerce, Chamber
of Brokerage Houses.
The Bank is also a member of the Polish Bank Association, an organization associating and
representing the interests of all banks operating in Poland. It helps banks and clients form the right
relationships and optimal development. The Bank's specialists participate in the work on solving
difficulties and issues specific to the whole sector, among others in the work of the Committee on
the Quality of Financial Service and the Banking Cybersecurity Centre and Bank IT Security Incident
Register, the Polish SWIFT and SEPA Users' Committee, the Real Estate Financing Committee, the
Electronic Banking Council and the Bank Card Issuers' Council.
Millennium Leasing is a member of the Polish Leasing Association and Millennium TFI of the Chamber
of Fund and Asset Management (IZFiA).
4.6.3. BUSINESS PARTNERS
Procurement policy
The Bank cooperates with many business partners as the buyer of products and services from various
market segments. The key business partners render services associated with the lease of and support
for branches and office space, services and purchase of IT equipment and security and marketing
services.
The principles of cooperation with Bank Millennium’s suppliers are described in the Instructions for
selecting suppliers and making purchases. These instructions define, among other things, how the
procurement process is organized, the role played by the various process participants and the supplier
selection criteria. Suppliers are selected in tenders, which allows the Bank to use objective
selection criteria. To ensure transparency of the procurement process, the substantive and
commercial evaluations of bids are done by independent Bank units. The chief risk ensuing from
inappropriate cooperation with suppliers involves a limitation on the ability to render banking
services.
The Bank collaborates with brokers on the basis of agency agreements. Collaboration involves the
Bank entrusting businesses to perform the activities prescribed by the agreement related to acting as
an intermediary in the sales of mortgage products. Ordinarily, the agency agreements entered into
by the Bank are outsourcing contracts. Some of the Bank's branches are operated under franchise
agreements with entrepreneurs.
The Bank’s Subsidiaries collaborate with business partners on the basis of agency cooperation
agreements. These agreements are entered into with business entities or individuals working in a
given organizational unit (Representatives).
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Criteria for selecting suppliers
[GRI 3-3] The criteria for selecting suppliers in tender procedures include: good ratio of quality to cost
of the services or products and the terms of delivery and payment. The bidder's substantive
capabilities and financial reliability are also taken into account.
Geographical location of the suppliers is not one of the selection criteria. In justified cases, the Bank
also includes environmental and social factors among the aspects that affect its choice of
suppliers.
For purchases of goods used by the entire Group, the Bank's supplier selection policy is applied.
Specific supplier selection criteria are employed by Subsidiaries if separate regulations require that,
e.g. the ones governing the operations of funds and investment fund companies at Millennium TFI.
Ethical and environmental standards
[GRI 308-1, 414-1] The requirement to apply ethical and/or environmental clauses in agreements, where
applicable, is an important element of the regulation pertaining to the procurement process (for
example OHS regulations in the contracts for provision of construction or environmental services in
agreements on waste disposal). [FS5] Every supplier taking part in a tender procedure must
undertake to observe the rules included in the Bank Millennium Group’s Code of Ethics, including
the respect of human rights and compliance with anti-corruption policies, by signing a
representation to that effect. In addition, a clause confirming supplier compliance with the Code of
Ethics has been included in currently concluded supplier agreements. In 2022, the Bank developed
the “Sustainability Guidelines for Suppliers” including, but not limited to, requirements for: employee
rights; safety, prevention and health; environmental responsibility; and responsible management. All
potential suppliers are required to sign declarations in which they undertake to comply with the
Guidelines. Additionally, in its supplier selection process the Group uses the Sustainability Supplier
Questionnaire.
The performance of agreements of significance to the Bank is monitored. The quality and
timeliness of services and goods and financial standing of the suppliers are evaluated.
In justified cases, audits are conducted in suppliers' offices to assess their security and continuity of
their business activity. In 2023, the quantity and quality of goods and services supplied was monitored
for approx. 1,780 agreements by the Bank.
In the case of 35 agreements, the suppliers’ financial standing and their contingency plans were
monitored. The quantity and quality of goods and services supplied was monitored for roughly 2,001
agreements by the Bank Millennium Group.
Products and services purchased
Bank Millennium
Bank Millennium Group
2023
2022
2021
2023
2022
2021
Number of suppliers*
4,876
4,961
4,310
10,903
11,047
11,502
[GRI 204-1]% of amounts paid to local
suppliers**
94%
93%
95%
95%
93%
93%
*In the data for 2022, the number of suppliers was corrected (reduced) by 2,540 (recipients of
payments for administrative proceedings) and similarly in 2021 by 2,329
** with registered offices in Poland
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Invoice payment term
Bank Millennium
Bank Millennium Group
2023
2022
2023
2022
2023
2022
Up to 30 days
76%
74%
75%
84%
82%
83%
31-60 days
22%
23%
21%
14%
15%
14%
Over 60 days
2%
3%
4%
2%
3%
3%
Millennium TFI’s partners
The activity of Millennium TFI and the funds it manages involves different types of business
partners. These include: the transfer agent maintaining the participants' registers, the custodian of
the funds' assets, the distributors of units, the entity maintaining the funds' books and calculating the
value of the funds' assets, the providers of office, transport, legal and IT services, the entity
maintaining the documents and the entity handling the circulation of correspondence, the entity
maintaining the Company's books (Bank), banks and brokerage houses as business partners of the
funds. The main categories of service providers to the Company and the funds are unit distributors,
transfer agent, custodian of the funds’ assets, the funds’ business partners (banks and brokerage
houses), legal advisors, financial auditors and IT service providers.
Agreements with Millennium TFI’s suppliers are concluded, and the terms and conditions for the
provision of services are defined, on the basis of legal regulations governing the activity of funds and
fund management companies. To the extent not covered by the above regulations, the Company
applies the Bank Millennium Group’s Code of Ethics regulating the principles of establishing and
maintaining relations with suppliers of goods and services.
The main criteria for selecting suppliers are set out in the regulations governing the activity of funds
and investment fund companies. Due to different regulations concerning companies and banks, the
criteria used by the Company may differ significantly from the criteria used by Bank Millennium. To
the extent to which the Company employs group solutions for purchases of goods and services, the
applied supplier selection policy is consistent with the principles laid down in the Bank Millennium
Group’s Code of Ethics.
[GRI FS5] The Society commits suppliers to ethical and environmental standards for group contracts, in
accordance with the principles contained in the Bank Millennium Group Code of Ethics.
Millennium Leasing’s partners - suppliers of leased assets
Millennium Leasing cooperates with suppliers of fixed assets, which are the subject of leasing
agreements. The cooperation is implemented through Vendor Programs. A potential partner, before
entering into cooperation, is verified by Millennium Leasing in terms of business potential, existing
portfolio of joint contracts, credibility, and in certain cases a screening of the potential Vendor is
performed by the Millennium Leasing Risk Department.
In most cases Millennium Leasing concludes cooperation agreements with suppliers of leased assets,
providing for remuneration for the supplier for leads delivered to Millennium Leasing. The agreements
have the nature of agency agreements and do not bind the parties on an exclusive basis.
Within the framework of the Vendor Programs Millennium Leasing cooperates both with leading
suppliers (importers, dealers) - leaders in their segments, as well as with smaller, local players, e.g.
with car consignment stores. Millennium Leasing’s Vendors are suppliers of cars and trucks, truck
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tractors and semi-trailers, construction machinery, forklifts, production machinery, e.g. for metal,
plastic and wood working machinery, printing machines, as well as PV installations and heat pumps.
[GRI FS5]The Company commits suppliers to ethical and environmental standards for group contracts,
in accordance with the principles contained in the Bank Millennium Group Code of Ethics.
4.7. TAX POLICY
[GRI 207-1] The Bank perceives the fulfilment of its tax obligations, including the proper and timely
payment of tax liabilities, as an element of corporate social responsibility and its important social
mission contributing to the sustainable social and economic development of the Republic of Poland
providing also the necessary foundations for the sustainable development of the Bank.
The Bank's tax policy is set out in the document "Tax Policy of Bank Millennium S.A." available at:
https://www.bankmillennium.pl/en/about-the-bank/corporate-bodies-and-governance
The tax strategy is approved by the Bank’s Management Board based on the recommendation of the
Head of the Tax Department. The tax strategy is subject to ongoing reviews and updates by the Head
of the Tax Department adapting it to the dynamically changing regulatory environment in Poland.
[GRI 207-2] Chapters III and IV of the "Bank Millennium S.A.’s Tax Policy" describe in detail the principles
and process of tax risk management in the Bank.
Tax planning and interpretation of tax laws in the classification of various events and projects is done
keeping in mind the Bank's low appetite for tax risk and maintaining the highest standards of diligence
to ensure tax compliance. In order to ensure tax compliance, the Bank maintains appropriate tax
governance governed by intra-bank acts defining the roles and responsibilities of the Bank's
organizational units, as well as senior and junior management within the tax processes, taking into
account the guidelines issued by the National Revenue Administration (KAS) resulting from the Internal
Tax Supervision Framework published by the Ministry of Finance providing assurance of proper
performance of duties.
[GRI 207-3] In its relations with KAS authorities, the Bank ensures transparency and due diligence in the
performance of its duties, in particular by providing reliable, complete and timely explanations in
accordance with the highest standards. As a member of the Polish Bank Association and Polish
Confederation Lewiatan, the Bank participates in social consultations regarding draft amendments to
the tax law. The Bank is open and collects stakeholder opinions and concerns on tax issues by
responding in writing to the issues presented. The Bank also publishes on its website the ongoing
stakeholder-related tax processes. The Bank discloses detailed information on tax matters in the
annual information on the implemented tax strategy published pursuant to Article 27c of the CIT Act
(link: https://www.bankmillennium.pl/en/about-the-bank/corporate-bodies-and-governance).
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CORPORATE SAFETY
4.8. SAFETY OF CLIENT FUNDS
[GRI 3-3, OWN DISCLOSURE 5] Ensuring safety of the funds entrusted by clients is a priority in the activity
of the Bank Millennium Group. Efficient management of this area is governed by the Bank's and Group
Companies' safety, fraud prevention and risk management policies, code of ethical conduct and best
market practices. The Bank’s internal regulators serve the prevention and identification of various
risks related to the conduct of banking business. Employees are trained regularly on the rules for
preventing abuse and ensuring protection of the clients’ funds and data. Additionally, a number of
technical safeguards operating in a multi-layer model (defence in depth) have been implemented
in this area.
Millennium TFI ensures safety of funds entrusted by clients to funds managed by the Company in
accordance with the provisions of law regulating the operation of investment funds and investment
fund companies. Under the Act, the maintenance of participant records and the execution of
participant instructions has been entrusted to a specialized entity, the transfer agent. Safety of assets
belonging to the funds is ensured by their custodian, which for Millennium Funds is Bank Millennium.
4.8.1. SAFETY OF INFORMATION AND TRANSACTIONS
[GRI 3-3] The Bank uses its best efforts to ensure the protection of clients’ funds and privacy. To this
end, risk analyses are conducted both before the preparation of new products and services and
globally - describing the whole ICT environment of the Bank. The key risks associated with inadequate
protection of clients’ funds and privacy are leakage, loss or unauthorized modification of client data.
Information security management system
The information security system in place in the Bank Millennium Group is modelled after the
international ISO/IEC 27001 standard which defines the requirements for establishing,
implementing, operating, monitoring, reviewing, maintaining and improving information security
management in the organization. The information security management system consists of a set of
the documented processes in force in the Bank and in the Bank Millennium Group’s companies in the
part aligned to the profile of the activity they conduct.
Information systems security audits/tests
The bank regularly conducts security audits/tests of information systems - both external and internal.
Regardless of the audits required by the provisions of the Act on the National Cybersecurity System,
performed at least once every two years, the Bank performs a number of appropriate audits/tests -
depending on needs. Audit processes concern both functioning systems, with particular emphasis on
systems processing customer data and systems made available on the Internet, as well as
modifications, new solutions and systems that are being implemented.
Model of security management
The accepted information security management model determines the comprehensive system for
protecting all information processed in the Bank, including information on clients, employees,
business partners and transactions. In order to achieve this goal, the Bank uses a broad range of
organizational, IT, telecommunication measures and in particular device protection mechanisms,
systems, applications, databases and communication channels. The information security management
model was constructed to safeguard against influence being exerted by key risks such as a potential
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loss of information concerning financial transactions, a leak of confidential information and
inaccessibility of services.
The Bank pays particular attention to the security of customers using electronic channels to access
banking services and products, improving technical and operational methods of protection. The Bank
uses proven and safe methods to confirm the identity of IT system users and constantly develops them
to ensure safe and convenient access to the Bank's websites. Customers can use innovative
identification methods, such as biometrics.
New threats and criminals' methods of operation are constantly analyzed to counteract them even
more effectively. Moreover, the Bank actively cooperates with other financial sector entities in Poland
and abroad, exchanging knowledge about modern threats, trends and changing fraud methods.
Organization of security
The data and resources of Bank Millennium clients are under constant oversight of a dedicated
specialist team ensuring security of all the channels used to access the Bank’s products and
services. The Bank's organizational structure includes a unit responsible for broadly understood
security, which includes teams dealing with all aspects of security, from physical security, through
all aspects of cybersecurity and ICT security, to fraud risk management. Moreover, as part of the
above-mentioned The unit responsible for security has a team responsible for performing ongoing
vulnerability checks in the Bank's systems. These checks are performed on a continuous basis. The
bank acts proactively towards potential security incidents by monitoring and ongoing work of the
Security Operation Center (24/7).
Trainings in data protection and cybersecurity area
An important element of the information protection system at the Bank is a mandatory educational
program covering all employees. It contains a set of information on good practices in the field of
personal data protection, banking secrecy, trade secrets and other confidential data. The training
covers both employees of the Bank Millennium Group and employees of cooperating companies who
may have access to the Bank's network.
[OWN DISCLOSURE 6]
Safety trainingBank Millennium Group
2023
2022
2021
2020
% of employees trained
94%
91%
90%
91%
Educational activities in the field of cybersecurity
We educate various groups of clients, including seniors, teenagers, and parents of younger children.
Additionally, as a Bank, we publish warnings about new methods of operation of criminals on our
website and in electronic channels:
https://www.bankmillennium.pl/en/electronic-banking/internet-banking-security
Additionally, the Bank carries out periodic, controlled phishing campaigns, further increasing the
security maturity level of its employees.
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4.8.2. PROTECTION OF PERSONAL DATA
[GRI 3-3] In particular, Bank Millennium processes personal data in order to operate bank accounts,
securely execute instructions, perform obligations imposed by law on the Bank, and to inform about
new services and products. The Bank as a data controller makes every effort to implement the
requirements of the Data Protection Regulation 2016/679 (GDPR) to the fullest extent possible and
thus protect personal data. Bank Millennium has appointed a Data Protection Officer, who supervises
the proper processing of data and regulations regarding the protection of personal data in the Bank
Millennium Group. In addition, a special unit has been established in the Bank, i.e. the Data Protection
Office, whose task is to provide advice, support and supervision of the fulfillment of obligations in
the field of personal data processing.
According to the GDPR, personal data processing is any operation on personal data. We are aware
that for our clients or other people cooperating with us, transparency and availability of information
are crucial, hence we have collected a set of information on the principles of personal data processing
and privacy policy in one place, on our official website: https://www.bankmillennium.pl/en/data-
protection.
To ensure compliance with GDPR requirements, the Bank has implemented the Bank Millennium
Personal Data Security Policy, which applies to all business lines and companies in the Bank Millennium
Group. The Bank's Management Board is responsible for approving, implementing and modifying the
Personal Data Security Policy. This policy establishes general rules for the processing of personal data,
which should be observed and applied by all persons processing personal data in the Bank Millennium
Group, both in IT systems and in a traditional way (in paper form). In particular, the Policy covers the
following issues:
• Principles of personal data processing,
• Obligations of the Data Protection Inspector,
• Authorizations and obligations of IT system users,
• Transparency of processing,
• Rights of data subjects,
• Risk analysis and assessment of the effects of processing,
• Entrusting the processing and sharing of personal data,
• Technical and organizational measures to ensure the security of personal data,
• Procedure in the event of a personal data protection breach.
As part of the adopted principles of personal data processing, the Bank ensures that only specific
persons with appropriate authorizations and rights have access to documents containing personal
data. Access control is implemented both by limited access to rooms where information in paper form
is stored, and by ensuring appropriate procedures for access to all personal data files in electronic
form.
Our clients' rights regarding the processing of their personal data
The principles of personal data processing are always presented in the information clause. Customers
are familiarized with the relevant information clause before concluding a contract regarding banking
products or services. They can also view its content available on the Bank's website at any time:
https://www.bankmillennium.pl/en/data-protection
Each of the available information clauses indicates the scope, legal basis and purposes of processing,
as well as the applicable retention period, i.e. the maximum period of personal data processing. As a
rule, the bank does not process data for purposes other than those indicated in the information
clauses, but if these purposes change, clients are informed about this fact in detail.
Clients and all other data subjects are informed by the Bank about their rights to:
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• access to their own personal data,
• rectification of personal data if its content is incorrect,
• deletion of personal data after the applicable data retention period has expired,
• restrictions on the processing of personal data,
• transfer of personal data,
• object to processing, and
• withdrawal of consent to data processing - where consent was its basis.
In the case of users using the Bank's website, users are informed about the principles of using their
cookies and asked to consent to their installation, if such consent is required.
Detailed information on this topic can be found at the link below:
https://www.bankmillennium.pl/en/policy-cookie-files
Bank Millennium processes personal data of clients, employees and other persons in relations with the
Bank using technical and organizational measures necessary to ensure the security of this data.
Personal data is one of the key resources for the Bank, and their security is the highest priority. The
Bank constantly improves the technical and organizational measures used to ensure protection of the
processing of personal data, in particular securing data against disclosure to unauthorized persons,
loss or unauthorized change.
At the same time, in the case of Bank Millennium clients, personal data is also covered by banking
secrecy, which involves the obligation to ensure even more extensive protection of data regarding
clients relations. To ensure the highest standards also in this respect, training is provided in the field
of protected information security, including personal data protection and banking secrecy.
Sharing of personal data with and transfer to third parties
In certain situations, the sharing of personal data by the Bank is essential for the provision of banking
services, such as in the case of transfer orders. Information is always shared following the highest
standards of personal data protection and in compliance with banking secrecy regulations.
The Bank shares personal data of its clients only if it is necessary and each time it examines and
ensures the proper legal basis for such sharing. Data is shared with the application of appropriate
security measures to prevent unauthorized access, loss or compromising of data. The amount of
personal data shared will be limited to the minimum necessary to achieve the stated purpose.
If personal data must be processed by separate entities providing services to the Bank, the Bank may
entrust the processing of such data by means of a written agreement that complies with the
requirements of Article 28 of the GDPR. When entrusting the processing of personal data, the Bank
only uses the services of such processing entities that provide adequate guarantees of using
appropriate technical and organizational measures to ensure that the processing complies with the
requirements of the GDPR and that the rights of data subjects are protected.
The Bank’s clients and employees are informed of the data sharing and outsourcing of data processing
in the relevant information clauses.
The Bank responds in a timely manner to data subjects' requests regarding data transfer, data access
and data deletion. In 2023, a total of 1,113 such applications were processed.
Handling of data breaches
Our activities are designed to ensure full protection of personal data of our customers and those who
work with us. In the rare event of a data breach, the Bank's policy is to respond promptly and to treat
each incident with special care.
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All incidents, even potential incidents, are reported to a team working 24/7 and then referred to data
protection specialists for further analysis if the matter involves the processing of personal data. Based
on these analyses, the Bank continuously improves its security measures.
In the event of a data breach, the Bank notifies the data protection authority and, in certain
situations, the data subject, as required by Articles 34 and 35 of the GDPR, in the manner and within
the timeframe specified in these provisions. If an incident involves identity theft, the Bank cooperates
fully with the relevant law enforcement authorities.
[GRI 418-1] Significant complaints concerning violation of the client’s
privacy and loss of data in2023
Number of justified complaints concerning violation of the client’s
privacy received from external parties and acknowledged by the
organization*
70
Completed proceedings conducted by the President of the Office for
Personal Data Protection (PUODO)**
9
Total number of identified personal data security incidents, ***
117
of which requiring reporting to PUODO
30
* Disclosure pertains to Bank Millennium - client complaints filed in person or by representative
entities, does not include PUODO proceedings that are handled outside of the complaint process
** proceedings before PUODO concerning personal data protection violations concluded in 2023
(does not apply to proceedings concluded by an appealed decision)
*** pertains to GDPR incidents registered during the calendar year
4.8.3. FRAUD PREVENTION
Elements of the fraud prevention system are built and tailored to the company's current needs based
on the Fraud Risk Management Program. The system enables coordination of actions taken by the
Bank’s various units involved in fraud detection, investigation and prevention. At the same time it
provides professional tools and solutions to ensure effective protection of the clients’ funds. To this
effect, numerous preventive mechanisms have been designed and implemented to monitor
transaction systems. These tools are constantly developed in order to better identify fraudulent
schemes.
As a result of the analyzes carried out, in 2023 the Bank decided to expand the methods used to
counteract fraud related to:
• taking over clients' identities in electronic banking (so-called Account Takover Fraud, ATO),
resulting in the activation of a mobile application on the fraudster's device or tokenization of
cards in external wallets (e.g. Apple Pay, Google Pay) and
• social engineering attacks using the telephone channel (voice phishing, vishing), involving
fraudsters impersonating bank employees.
In order to limit cases of activation of the Bank's mobile application on fraudsters' devices, leading to
third parties taking over access to the customer's account (so-called Account Takover - ATO), the Bank
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has changed the process of activating the mobile application and requires the Customer to take
additional actions in the event of increased risk.
In 2023, a completely new decision engine was implemented at the Bank, supporting the process of
monitoring fraudulent transactions, enabling real (online) correlation of information from many
different types and sources of data, and using artificial intelligence mechanisms to increase the
effectiveness of fraud detection. The implementation of advanced mechanisms in this new engine to
detect unauthorized card tokenization operations and prevent suspicious transactions using such a
suspicious mobile wallet has effectively contributed to a significant decrease in fraud using mobile
wallets.
Thanks to the implementation of the described anti-fraud mechanisms and regular review of their
parameterization, the share of frauds related to ATO Fraud has been significantly reduced.
In order to reduce the phenomenon of fraud related to impersonating Bank employees, a pilot solution
was implemented that allows the customer to verify the authenticity of a telephone contact initiated
by Bank employees in the mobile application. The goal is to implement a new standard of telephone
communication with customers who have a mobile application with an active mobile authorization
service. The new communication standard will consist in replacing the standard inquiry of the
Customer about personal and product data during the identification and authentication process during
telephone calls initiated by the Bank's employees with the approval of a push notification in the
customer's mobile application. The content of the push notification will include the details of the
calling Bank employee.
Ultimately, this service will be obligatory, i.e. it will always be used in the case of a telephone call
initiated by a Bank employee, and not only at the request of a customer who has doubts about the
identity of the caller.
Due to the fact that vishing abuses are often accompanied by the practice of installing "remote
desktop" software used by fraudsters to make unauthorized transactions or obtain customer
credentials, the Bank has implemented technical security measures in the Bank's mobile application
(for both system platforms, i.e. Android and iOS), which prevents session recording via such software.
4.8.4. ANTI-MONEY LAUNDERING AND COUNTERING TERRORISM
FINANCING (AML/CTF)
Bank Millennium identifies and assesses the risks of money laundering and terrorist financing relating
to the Bank's activities, taking into account risk factors concerning clients, countries or geographical
areas, products and services, transactions, their delivery channels, taking into account the nature
and size of the Bank.
The Bank's internal regulations on Anti-Money Laundering and Countering the Financing of Terrorism
(AML/CTF), including the AML/CFT Policies and Sanctions, as well as the AML/CTF Procedure, form a
comprehensive system for identifying areas of risk posed by money laundering or terrorist financing.
In order to minimize the risk, the Bank operates in accordance with the provisions of the
aforementioned internal AML/CTF regulations, which defines the rules of conduct consistent with
national and international laws and banking standards.
The Bank applies financial security measures with respect to its clients, appropriate to the level of
identified AML/CFT risk, takes steps to mitigate the risk of opening relationships and conducting
business with persons or entities suspected of obtaining their funds illegally.
The Bank complies with Polish AML/CFT regulations, European Union and United Nations legal
regulations and international banking standards concerning specific restrictive measures (sanctions).
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The AML/CFT internal procedure is reviewed at least once a year for compliance with applicable laws
and regulations.
All Bank Millennium employees are obliged to make every effort to prevent the use of the Bank's
products and services for money laundering and terrorist financing and to report any suspicious
activity promptly to the appropriate banking unit.
The Bank conducts AML/CFT training for all employees in order to meet the highest standards, in
particular with regard to the applicable AML/CFT regulations, including inter alia the application of
financial security measures and specific restrictive measures within the client business relationship
and the typology of money laundering. The Bank has procedures and channels in place to report AML
violations that ensure anonymity and fully reflect the requirements of the Act.
The most important functions, roles and responsibilities as well as specific areas, in particular high
risk areas, are adequately described in the Bank's internal regulations. A dedicated AML unit is
appropriately placed in the Bank's organizational structure, and the persons responsible for the Bank's
AML activities have appropriate competence and qualifications.
The Bank's Management Board is regularly informed on how it is implementing its obligations under
the AML Act. In particular, reporting includes the most relevant information as part of management
information, including major changes in laws and regulations, statistical data and other data required
to present a complete picture of AML/CFT risk in the organization. The Bank has in place a specialized
AML Committee, which receives regular information on this subject. AML/CFT reports are also
submitted to the Supervisory Board Risk Committee (on a quarterly basis) and to the Supervisory Board
(on an annual basis).
Bank Millennium Group companies which are obligated institutions have separate AML/CFT policies
and procedures and apply the requirements of AML/CFT regulations in a consistent manner.
Employees performing AML/CFT related duties are appropriately trained in this respect, according to
the training program.
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4.8.5. MECHANISMS FOR REQUESTING ADVICE AND REPORTING
POTENTIAL IRREGULARITIES
The Bank Millennium Group’s key policies are posted on the Bank’s website. Moreover, policies,
procedures and instructions are disseminated among employees via the corporate intranet. Employees
may obtain advice on the pursuit of the Company’s policies and practices of responsible business
conduct by referring to the pertinent units, depending on the area in which the advice is sought. For
instance, as regards the pursuit of the policy to ensure compliance with supervisory laws and
regulations and with internal procedures, the Compliance Department is the competent unit; for the
HR policy, the HR Department is the place to go to; for issues related to credit risk, it is the Risk
Department. For issues related to responsible business conduct practices, the Compliance Department
is the appropriate unit for consultation. Also, a number of solutions have been implemented in the
Group, which – through various communication channels, including in helpdesk format – provide
employees with access to advice and clarification regarding such issues as the functioning of products,
the operation of processes in the Group, or formal and legal aspects.
[GRI 2-16, 2-26] The Bank Millennium Group has in place a system for reporting violations understood as
non-compliance by its employees with the provisions of applicable laws, internal regulations or market
standards. Employees are provided with procedures and tools for advice seeking and anonymous
reporting of violations. Individual companies from the Bank Millennium Group have separate
procedures for reporting violations.
This process takes place on the basis of the “Instructions for reporting breaches at Bank Millennium
S.A.” adopted by the Bank (with respect to potential breaches committed by employees other than
the Bank’s Management Board Members) and the “Rules for reporting breaches to the Bank Millennium
S.A. Supervisory Board (with respect to potential breaches committed by the Bank’s Management
Board Members). The report can be made by e-mail, by sending a message to the dedicated function
box * VIOLATIONS - a channel that does not ensure the anonymity of the reporting person or by post
- by sending a letter marked "in person" to the President of the Bank (if the report concerns the Bank's
employees) or the Chairman of the Supervisory Board (if the report concerns Member of the Bank's
Management Board) - a channel ensuring the anonymity of the reporting person.
[GRI 2-16] Reports submitted as part of the breach notification process described above are reported
by the Compliance Department as part of its reporting obligations to the Bank's Management Board,
the Audit Committee of the Supervisory Board and the Supervisory Board. In 2023, there were no
reports that met the definition of the Bank Millennium S.A. Whistleblower Manual or the Bank
Millennium S.A. Supervisory Board Whistleblower Policy.
Moreover, the Bank has appointed an Ethics Officer whose responsibilities include safeguarding
compliance with the Code of Ethics, promoting and disseminating information about ethical standards,
ordering inspections of compliance with ethical principles and verifying cases of their breach. Other
issues pertaining to the role of the Ethics Officer and the ethics management system are described in
section 4.5. “Ethical standards and human rights”.
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4.8.6. PREVENTING CONFLICTS OF INTERESTS
[GRI 2-15] The Bank has implemented Policy for the prevention of conflicts of interest at Bank
Millennium S.A. According to its contents, the Bank has introduced the following rules governing
this area:
▪ accepting and giving monetary and non-monetary performances ("incentives"),
▪ review and approval of products,
▪ appropriate organizational structure (including transparent official reporting structures) and
information barriers,
▪ compensation policies applied,
▪ personal transactions,
▪ engaging in additional or competitive activities,
▪ transactions with entities from the Bank Millennium Group.
The Bank’s Management Board is responsible for the proper management of conflicts of interests and
supervising them. Periodically, at least once a year, on the basis of the recorded cases of existing
conflicts of interest, the Compliance Department analyzes the reasons for their occurrence and
presents to the Bank's Management Board conclusions aimed at eliminating them in the future.
The Brokerage House of Bank Millennium S.A. has adopted separate regulations in this regard,
applicable to the Policy for the prevention of conflicts of interest in the Bank Millennium S.A.
Brokerage House, “Procedure for identifying, classifying and assessing the monetary and non-
monetary performances accepted and given by the Bank Millennium S.A. Brokerage House in
connection with the rendering of investment services” and the “Regulations of Personal Transactions
of Involved Person in the Bank Millennium S.A. Brokerage House”.
Some subsidiaries adhere to specific regulations on top of the regulations that span the Bank Group,
e.g. Millennium Towarzystwo Funduszy Inwestycyjnych applies the Rules and regulations for managing
conflicts of interest in Millennium TFI S.A.
Management Board and Supervisory Board Members are required to notify the Bank of any existing
conflict of interest or its potential occurrence. Apart from the self-assessment mechanism applied by
members of the Management Board and the Supervisory Board, the Bank independently conducts its
own monitoring and analyses in this area. If, based on such analysis, the Bank identifies a conflict of
interest with regard to any member of these bodies, the compliance unit (at its own initiative or on
the basis of an alert from another unit) notifies the Supervisory Board Chairperson/President of the
Management Board or an independent member of the Supervisory Board/another member of the
Management Board. A member of the Management Board or Supervisory Board should refrain from
voting on any matters where he or she remains in a conflict of interest or any matters where his or
her objectivity or ability to properly perform his or her duties may be impaired.
Stakeholders are kept up to date about any occurring conflicts of interest. The disclosure of
information about conflicts of interest is used by the Bank only as a last resort when the Bank is
unable to effectively prevent and manage the respective conflict of interest. The Bank discloses
information on conflicts of interest when the residual risk of damage to stakeholders persists and
when organizational or administrative solutions implemented by the Bank are insufficient to ensure,
with due certainty, that the risk of damage does not occur.
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4.8.7. ANTI-CORRUPTION
[GRI 3-3] The Bank's approach assumes zero tolerance for any form of corruption, which can be briefly
reduced to accepting or giving benefits (both financial and non-financial) aimed at achieving a certain
behaviour or omission of the other party.
To this effect, in 2021 the Bank implemented a separate regulation dedicated to this subject, entitled
"Anti-Corruption in Bank Millennium S.A. Polices and Guidelines".
The document attempts to comprehensively cover the topic of corruption and addresses the following
areas:
▪ The roles and responsibilities of individual persons, units and bodies of the Bank - the
responsibility for counteracting corruption rests with each Bank employee, which means that
they are obliged, in the case of suspicion that an act of this kind has been committed, to
immediately inform the relevant Bank services, and if they fear the consequences of their
report, they can provide the information anonymously. The regulation also defines the roles
of the Bank's Management Board and Supervisory Board, which should properly oversee the
implementation and periodic evaluation of the adequacy and effectiveness of the
implemented anti-corruption system. The Bank has also established the function of a
Coordinator responsible for the implementation of the anti-corruption process and
independent monitoring of compliance with the rules imposed by the aforementioned
regulation.
▪ Relations with business partners - the Bank considers proper relations with its business
partners to be fundamental to the efficient and transparent functioning of the Bank and the
provision of specific services by the Bank to its clients. This imposes a special obligation on
the Bank to analyze each business partner, both at the stage of establishing the relationship
and throughout its duration. Within the framework of this analysis, the relevant Bank services
should pay special attention to such issues as: key personnel of the business partner, negative
information from publicly available sources (including the media), verification of
counterparty details against the sanction lists used in the Bank, capital and personal relations
with other entities or verification of references.
▪ Relations with officials - this type of relationship is considered by the Bank in two aspects,
that is, employment and interaction at the official level. As far as the former aspect is
concerned, the Bank, when employing such persons, makes every effort to prevent conflicts
of interest, taking into account the legitimate interests of such persons and the provisions of
generally applicable laws (especially in the areas of personal data protection and labour law).
In the latter case, the Bank has decided to strictly prohibit the giving or receiving of benefits,
irrespective of their value or nature; this includes the prohibition of benefits of an incidental
nature, typically given or received on such occasions.
▪ Relations with other organizations - in the case of political parties, the Bank has adopted a
policy of complete neutrality, which means not undertaking the financing of political parties,
either directly or indirectly. With respect to non-profit organizations (such as charities or
foundations), the Bank permits the financing of such organizations in accordance with its
internal regulations.
▪ Giving and receiving benefits - the Bank divides benefits into three main categories, i.e.
gifts, representation events and business events. Depending on the type of benefit, the path
forward varies. However, the main principle is the recording of benefits and, in certain
situations specified in the regulation, their prior approval by the relevant Bank services. All
this is to tighten the process of circulation of various types of benefits, which may be received
or given by the Bank's employees.
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Corruption-related risks are analyzed for all units of the Bank Millennium Group.
[GRI 205-2] Within the framework of mandatory training on the Code of Ethics employees familiarize
themselves with the Bank Millennium Group’s anti-corruption policy. Additionally, in connection with
the implementation of the new regulation "Anti-Corruption in Bank Millennium S.A. Polices and
Guidelines", an educational campaign is conducted through internal communication channels by
publishing articles explaining the most important aspects of counteracting corruption in the
organization.
[GRI 2-26] Employees may also pose questions and report observed irregularities in this area via an e-
mail inbox or they may contact their immediate supervisor or the person running the Compliance
Department.
In addition, in 2023, training on counteracting corruption took place:
[GRI 205-2]
Trained on corruption counteracting *
Bank 2023
Group 2023
Managerial staff trained in the year
1,040
1,050
97.20%
97.22%
Other employees trained in the year
5,267
5,291
97.32%
97.33%
* Number and % of persons trained. The training was communicated to 100% of employees employed
in Bank Millennium S.A., Millennium Bank Hipoteczny and Millennium Leasing. The remaining
companies of the Group were not covered by anti-corruption training in 2023, but the Bank is working
on making it available to employees of these companies in 2024.
Members of the Management Board do not receive training, but the Bank is working on providing
them with training tailored to the specific nature of their tasks. The training for Management Board
Members will also include annual familiarization with internal regulations in the area of
counteracting corruption. In 2023, Members of the Management Board were not familiar with the
internal regulations regarding anti-corruption. Internal regulations in this area were not changed in
2023.
Each supplier participating in the tender, by signing a statement, undertakes to comply with the
principles contained in the "Code of Ethics of the Bank Millennium Group", including respect for human
rights and the principles of the anti-corruption policy. Content of the regulation “Counteracting
corruption in Bank Millennium S.A. Rules and guidelines” is communicated and made available to 100%
of business partners and to each of the suppliers participating in the tender. The Bank does not
organize separate training on corruption for business partners, but the Anti-Corruption Principles are
made available to business partners and other stakeholders on the Bank's website.
[GRI 205-1] As part of the assessment of individual components of operational risk, also the aspect of
vulnerability to corruption risk of different types of Bank's activities is analyzed by the Internal Audit
Department in the course of audit activities. Past experience in this area confirms the adequacy and
effectiveness of the control mechanisms implemented for this purpose, such as procedures,
segregation of duties, authorizations and limits. Periodic audits of the Internal Audit Department
cover all activities of the Bank and all business processes within the Bank Millennium Group. [GRI 205-
3, 3-3] No detected cases of corruption in 2023 in the Bank Millennium Group. There were also no cases
of confirmed incidents in which employees were dismissed or disciplined for corruption, no confirmed
incidents in which contracts with business partners were terminated or were not extended due to
corruption-related violations, and no public corruption court cases initiated against the Bank or its
employees. In addition, some subsidiaries have their own anti-corruption regulations. Millennium
Towarzystwo Funduszy Inwestycyjnych applies own anti-corruption regulations stemming from the
legal requirements applicable to this category of entities set forth in the “Rules and regulations for
accepting and giving incentives”.
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4.9. INTERNAL CONTROL SYSTEM
4.9.1. COMPLIANCE
The rules and standards of ensuring compliance with external and internal regulations are described
in the document entitled Bank Millennium S.A. Compliance Policy. Within the compliance risk
management process, Bank Millennium considers the following areas to be particularly important:
▪ monitoring changes in legislation and market standards,
▪ ensuring compliance of the Bank's internal regulations with the generally applicable provisions
of law, as well as recommendations issued by regulatory authorities,
▪ monitoring and approving new products and modification or withdrawal of existing products,
▪ approving marketing materials,
▪ reporting violations of applicable laws, internal regulations or market standards,
▪ preventing money laundering and financing of terrorism,
▪ preventing and managing conflicts of interest,
▪ preventing corruption,
▪ observing the ethical principles;
▪ personal transactions,
▪ protecting confidential information and professional secrets,
▪ monitoring and ensuring compliance with respect all of the bank's products and services,
including financial products and services covered by MiFID II.
A report on the operation of the system for supervising legal compliance is presented quarterly to the
Bank's Management Board and the Supervisory Board Audit Committee, and annually to the Supervisory
Board.
[GRI 2-27] In 2023, no financial penalties were imposed on the Bank by final judgment for non-
compliance with generally applicable laws.
[GRI 2-27]The Bank defines as material cases of non-compliance with the laws and regulations those
situations where fines or other sanctions have been imposed for non-compliance with the
requirements of generally applicable law.
In 2020–2023, the Bank recorded only one case of non-compliance within the above meaning,
identified specifically in 2020, resulting in a fine of PLN 10,464,213 (in this case, the Bank has filed a
cassation appeal to the Supreme Court). In the said period, the Bank was not involved in any other
case of non-compliance resulting in penalties other than fines.
[GRI 206-1] The report on court cases can be found in the chapter titled: “Court cases” in the Annual
Financial Statement of the Bank Millennium S.A. Capital Group for the 12-month period ended
December 31, 2023.
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In accordance with the above-mentioned chapter, in the field of anti-competitive behavior and
violation of antitrust and antimonopoly regulations, the status of court cases to which the Office of
Competition and Consumer Protection in Poland is a party is as follows:
A description of the decisions regarding the case included in the above list can be found in the chapter
titled “Court cases” in the Annual Financial Statements of the Bank Millennium S.A. Capital Group for
the 12-month period ended December 31, 2023.
4.9.2. INTERNAL AUDIT
The activity of Internal Audit is regulated by the „Audit charter – the principles pertaining to internal
audit activity in Bank Millennium S.A.”. This is scheduled activity based on the annual audit plan. The
planning process is based on the evaluation of risks in individual areas and processes of the Bank and
of the Subsidiaries to identify the elevated risk and supporting the priorities and resources for
implementing tasks. The planning process takes into account consultations with senior management
and key process owners. The annual audit plan is approved by the Bank’s Supervisory Board and is
implemented, on a quarterly basis, by experienced and qualified professionals.
Internal audit is a separate, within the internal control system of Bank Millennium S.A., independent
and objective advisory activity, performed by the Internal Audit Department, aimed at generating
value and improving processes in the Bank/Group of Bank Millennium S.A. as well as assessing the
adequacy and effectiveness of the risk management system and internal control system. Advisory
activity may be performed if its character does not compromise the principle of the internal auditor’s
objectivity and independence.
In 2023, as part of the assurance activity, the Internal Audit Department performed audit tasks in the
Bank, in the Bank's subsidiaries, in third party companies to which, where permitted by law, the Bank
outsourced the performance of banking and banking-related activities and within the BCP Group. The
Department’s planned activity covered, among other things, the performance of audits of key business
processes and support processes of branches and compliance with external regulatory requirements.
Tasks performed by the Internal Audit Department also included clarification procedures and
preventive audits. As part of its advisory activities, the Department performed tasks related to the
coordination of the SREP process, inspections and supervisory / external audits carried out at the
Bank.
1
Number of legal proceedings pending in the reporting period regarding anti-competitive
behaviour in which the organization was a participant (applies only to proceedings
regarding competition-restricting practices described in the financial statements in the
above-mentioned chapter).
0
Number of legal proceedings completed in the reporting period regarding anti-
competitive behaviour in which the organization was a participant.
0
Number of legal proceedings pending in the reporting period regarding violations of
antitrust and antimonopoly regulations in which the organization was a participant.
0
Number of legal proceedings completed in the reporting period regarding violations of
antitrust and antimonopoly regulations in which the organization was a participant.
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The Internal Audit Department is an independent unit reporting to the Chairman of the Bank’s
Management Board, which delivers results of its activities to the Audit Committee of the Supervisory
Board and to the Bank’s Supervisory Board. The results of the operating review of the entire internal
control system and of its selected elements are presented regularly and evaluated by the Audit
Committee of the Bank’s Supervisory Board.
ESG issues in the audit plan
ESG topics are included in Internal Audit's ongoing Audit Strategy and Three-Year Audit Plan for 2022-
24. The 2023 the audit examination included verification and evaluation of controls related to ESG
organization and reporting. The scope of auditing specific aspects of ESG is evaluated annually in the
audit planning process for the following year.
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Legal basis for the Group's reporting obligations under the EU Taxonomy
The Bank Millennium Group is required to publish EU Taxonomy information under Article 8 of
Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020. (“EU
Taxonomy”).
The Group prepares EU Taxonomy disclosures in accordance with Regulation 2021/21782F
3
as amended
by Regulation 2022/12143F
4
and by Regulation 2023/24864F
5
.
Based on the requirements set out in Annex V of Regulation 2021/2178, Bank Millennium prepares EU
Taxonomy disclosures on a consolidated basis according to the scope of prudential consolidation
3
Commission Delegated Regulation (EU) 2021/2178 of 6 July 2021 supplementing Regulation (EU) 2020/852 of the European
Parliament and of the Council by specifying the content and presentation of information to be disclosed by undertakings
subject to Articles 19a or 29a of Directive 2013/34/EU concerning environmentally sustainable economic activities, and
specifying the methodology to comply with that disclosure obligation
4
Commission Delegated Regulation (EU) 2022/1214 of 9 March 2022 amending Delegated Regulation (EU) 2021/2139 as
regards economic activities in certain energy sectors and Delegated Regulation (EU) 2021/2178 as regards specific public
disclosures for those economic activities
5
Commission Delegated Regulation (EU) 2023/2486 of 27 June 2023 supplementing Regulation (EU) 2020/852 of the European
Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an
economic activity qualifies as contributing substantially to the sustainable use and protection of water and marine resources,
to the transition to a circular economy, to pollution prevention and control, or to the protection and restoration of
biodiversity and ecosystems and for determining whether that economic activity causes no significant harm to any of the
other environmental objectives and amending Commission Delegated Regulation (EU) 2021/2178 as regards specific public
disclosures for those economic activities
5 EU TAXONOMY
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applied by the Bank for capital adequacy purposes. The Bank’s subsidiaries subject to prudential
consolidation include:
• Millennium Bank Hipoteczny S.A.
• Millennium Leasing sp. z o.o.
• Millennium Consulting S.A
• Millennium TFI S.A.
• Millennium Service sp. z o.o.
• Millennium Goodie sp. z o.o.
• Millennium Telecommunication Services sp. z o.o.
Pursuant to Article 10(5) of Regulation 2021/2178, from 1 January 2024, the Group must disclose key
performance indicators of financial undertakings (in particular the Green Asset Ratio – GAR),
including all relevant accompanying information, based on Annexes V, VI, XI and XII of the Regulation
(whereby point 1.2.3 and 1.2.4. Annex V shall apply from 1 January 2026). This information relates
to the financing of activities specified in Regulation 2021/21395F
6
as amended by Regulation 2022/1214.
On the other hand, under Article 10(7) of Regulation 2021/2178, in the period from 1 January 2024
to 31 December 2025, the Group only discloses the percentage indicators of EU Taxonomy eligible and
non-eligible activities (along with relevant qualitative information) – for the activities specified in
Regulation 2023/24856F
7
(amending Regulation 2021/2139) and for the activities specified in Regulation
2023/2486.
EU Taxonomy-eligible financing granted by the Group are exposures that finance activities (or
objectives/projects related to these activities) listed in Delegated Regulation 2021/2139 (as
amended) or Delegated Regulation 2023/2486 – irrespective of whether these activities meet the
Taxonomy technical screening criteria for sustainability.
EU Taxonomy-compliant granted by the Group (green/sustainable financing as defined in the EU
Taxonomy) are exposures that finance activities (or objectives/projects related to these activities)
that meet the material contribution criteria and “do no significant harm” (DNSH) criteria set out in
Delegated Regulation 2021/2139 (as amended) or 2023/2486, and are in compliance with the
minimum safeguards laid down in Article 18 of Regulation 2020/852. EU Taxonomy-compliant
financing is a subset of EU Taxonomy-eligible financing.
Contextual information on key performance indicators for the activities laid down in Regulation
2021/2139 as amended by Regulation 2022/1214
The Bank prepares and discloses quantitative information on key performance indicators for the
activities laid down in Regulation 2021/2139 as amended by Regulation 2022/1214 (i.e. for the
original scope of activities that can substantially contribute to the first two environmental
objectives – climate change mitigation and adaptation) in accordance with the methodology
6
Commission Delegated Regulation (EU) 2021/2139 of 4 June 2021 supplementing Regulation (EU) 2020/852 of the European
Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an
economic activity qualifies as contributing substantially to climate change mitigation or climate change adaptation and for
determining whether that economic activity causes no significant harm to any of the other environmental objectives
7
Commission Delegated Regulation (EU) 2023/2485 of 27 June 2023 amending Delegated Regulation (EU) 2021/2139
establishing additional technical screening criteria for determining the conditions under which certain economic activities
qualify as contributing substantially to climate change mitigation or climate change adaptation and for determining whether
those activities cause no significant harm to any of the other environmental objectives
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specified in Annex V of Regulation 2021/2178 and the tabular disclosure templates in Annexes VI and
XII of that Regulation.
Annex V of Regulation 2021/2178 (followed by the changes introduced by Regulation 2023/2486)
distinguishes between the following (partial) key performance indicators for credit institutions
relating to assets :
- Total Green Asset Ratio (GAR) for financing activities directed at financial undertakings;
- Total Green Asset Ratio (GAR) for financing activities directed at non-financial undertakings;
- Green Asset Ratio (GAR) for residential real estate exposures, including house renovation loans,
for the objective of climate change mitigation;
- Green Asset Ratio (GAR) for retail car loans, for the objective of climate change mitigation;
- Green Asset Ratio (GAR) for loans to local governments for house financing and other use-of-
proceeds lending.
- Green Asset Ratio (GAR) for commercial and residential repossessed real estate collateral held
for sale (repossessed in the collection process).
Total GAR is an indicator that accumulates all the partial ratios listed in items 1-6 above.
For each of the above indicators of EU Taxonomy-compliant exposures, the disclosure templates set
out in Annexes VI and XII of Regulation 2021/2178 also provide for the disclosure of the corresponding
percentages of EU taxonomy-eligible assets.
Additionally, Annex V to Regulation 2021/2178 requires the Group to disclose key EU Taxonomy
indicators for off-balance sheet exposures – i.e. for certain financial guarantees issued and for assets
managed by an investment fund company (TFI) belonging to the Bank’s Group.
The Bank discloses quantitative information on the above indicators using detailed tabular formulas
laid down in Annex VI to Regulation 2021/2178.
For exposures to financial and non-financial undertakings included in the partial indicators on assets
and off-balance sheet items, the Group has adopted the following methodology to assess EU Taxonomy
eligibility and alignment, in accordance with the requirements of Annex V of Regulation 2021/2178:
1. for general purpose financing – the assessment of eligibility and alignment is based on the
EU Taxonomy key performance indicators, for revenue and capital expenditure (CapEx)
published by the Group’s clients and by identified subsidiaries of the Group’s clients or by
parent companies of the Group’s client’s7F
8
- therefore, in accordance with the requirements
in Regulation 2021/2178, the Group calculates its key performance indicators twice (first
on the basis of its clients’ revenue indicators and second on the basis of its clients’ CapEx
indicators),
2. for use-of-proceeds financing – the assessment of eligibility and alignment is based on the
Bank’s own analysis of the characteristics of the purpose of the financing and the information
needed to verify compliance with the technical screening criteria of the EU Taxonomy and
minimum social safeguards.
Financing of non-financial and financial undertakings
The Bank identifies entities eligible for inclusion in the GAR numerator (i.e. entities required to report
under the EU Taxonomy themselves (as well as identified subsidiaries of such entities) or included in
such reporting through consolidation by the parent company) based on Instrat’s public database and
8
For the Group’s clients that are financial undertakings, the Group uses the taxonomy indicators published by the Group’s
clients and based on the revenues or on the capital expenditures of the entities financed by the Group’s clients.
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expert portfolio review (for subsidiaries of entities included in Instrat’s database and for entities
located outside Poland). The same approach was applied to financial enterprises.
Household financing
For the purpose of calculating the partial ratio related to the financing of households related to
residential properties, the Group has assumed that:
1. all mortgage loans granted for the construction/purchase of a house/apartment are EU
taxonomy-eligible under the “climate change mitigation” environmental objective,
2. The Group assesses the EU Taxonomy alignment of mortgage loans based on the technical
screening criteria of the EU taxonomy described below and based on the verification on the
physical risk maps for Poland that the location where the financed property is located is not
significantly exposed to flooding or waterlogging8F
9
,
3. For mortgage loans financing properties built before 31 December 2020, in accordance
with the technical screening criteria of the EU Taxonomy, the Group has adopted the
condition that the financed building is among the 15% most efficient buildings in the
country or region in terms of Primary Energy Demand (PED).
a) In order to identify the 15% most efficient buildings, the Group has assumed an
analysis indicating that this pool includes all buildings built in Poland between 2017
and 2020. This analysis was based on statistical data of buildings built in Poland,
including the report of the National Energy Conservation Agency S.A. on the typology
of buildings for assessing their energy efficiency. The analysis also corresponds to the
data presented in the Annex to Resolution No. 23/2022 of the Council of Ministers of
6 February 2022 – Long-term strategy for the renovation of buildings.
b) The assumed approach differs from the information published by the Ministry of
Economic Development and Technology on the energy efficiency of buildings in the
context of the provisions of Commission Delegated Regulation 2021/2139 of 4 June
2021 supplementing Regulation (EU) 2020/852 of the European Parliament and of the
Council by establishing the technical screening criteria for determining the conditions
under which an economic activity qualifies as contributing substantially to climate
change mitigation or climate change adaptation and for determining whether that
economic activity causes no significant harm to any of the other environmental
objectives (Taxonomy of Sustainable Investment Financing – Buildings – Ministry of
Economic Development and Technology – www.gov.pl).According to this information,
residential buildings with a primary energy demand of less than 76.59 kWh/(m2*year)
can be deemed to meet the criterion of being among the 15% most efficient buildings
in the country or region in terms of primary energy demand (PED).
The Group’s taxonomic disclosures below include the value of EU Taxonomy-aligned
mortgage loans that are obtained by using the approach arising out of the above-
mentioned position of the Ministry of Economic Development and Technology, in the point
3b) above. Due to the fact that the Group did not have energy efficiency data for the
financed properties at the time of preparing these disclosures, this value is 0.
Additionally, for the tables below, a disclosure has also been made that includes a value
for the EU Taxonomy-aligned mortgage loans based on the approach described in the point
3a) above.
9
Pursuant to Commission Notice C/2023/267, the Group qualifies all mortgage loans granted to consumers as activity “7.7
Purchase of and ownership right of buildings” as part of the environmental objective “mitigation of climate change”.
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1.0. Summary of key performance indicators to be disclosed by credit institutions under
Article 8 of the Taxonomy Regulation
1.1. Assets for the calculation of the Green Asset Ratio – turnover-based
1.2 Assets for the calculation of the Green Asset Ratio – capital expenditures-based
3.1 GAR KPI stock – turnover-based
3.2 GAR KPI stock – capital expenditures-based
4.1 GAR KPI flow – turnover-based
4.2. GAR KPI flow – capital expenditures-based
Quantitative disclosures prepared in accordance with the formulas laid down in Annex XII
of Regulation 2021/2178 - Nuclear and fossil gas related disclosures
4. Household loan products related to improving the energy efficiency of residential properties
are considered EU Taxonomy-eligible under the “climate change mitigation” environmental
objective, while in the current reporting cycle the Bank does not have the source data to
reliably assess the EU Taxonomy alignment of these credit products.
At year-end 2023, the Bank does not identify any assets in its portfolio that could qualify for partial
indices for consumer car financing, for use-of-proceeds financing for local governments, or for real
estate taken into the Bank’s ownership in the loan loss recovery process.
Contextual information on key performance indicators for the activities laid down in Regulations
2023/2485 and 2023/2486
In accordance with Article 10(7) of Regulation 2021/2178, for the period from 1 January 2024 to 31
December 2025, and for the activities laid down in Regulations 2023/2485 and 2023/2486 (i.e. for the
new extended scope of activities that can substantially contribute to one or more of the six
environmental objectives specified in the EU Taxonomy), the Group only discloses the percentage
indicators of EU Taxonomy eligible and non-eligible activities (along with relevant qualitative
information).
The Group has reviewed its portfolio (from balance sheet and off balance sheet perspective) with
respect to its eligibility for the above-mentioned “new” activities and concludes that:
- The loans related to residential real estate granted by the Bank to consumers and use-of-
proceeds financing for businesses qualify only for the original scope of activities under the
climate change mitigation objective and do not qualify for the “new” activities,
- Due to the timing of the reporting requirements for the “new” activities in the EU Taxonomy,
which requires financial and non-financial undertakings to disclose indicators of the eligibility
of their activities for the “new” activities for the first time in 2023, the Group is not in a
position to reliably assess the eligibility of general purpose financing granted to businesses.
The Group has not elected to take a simplified approach by carrying out an eligibility analysis
based on the main NACE codes of its clients, since the Group believes that such information
would not be comparable to the disclosures of eligibility of exposures to the “original” scope
of activities, which follow precise indicators disclosed by the Group’s clients, and could
mislead readers of this report.
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Description of alignment with EU Taxonomy in the Group’s business strategy, product design
processes and engagement with clients and contractors
The Bank Millennium Group takes steps aimed at developing the portfolio of assets financing
Taxonomy-aligned activities.
The Group’s Strategy for 2022-2024 “People Inspire Us” as well as the ESG Strategy, which develops
some of its tenets, contain objectives of actively supporting clients in their decarbonization efforts
and granting PLN 2 billion of financing for sustainable and transformational projects for the clients of
the Bank’s Group over the next 3 years.
Our goal is to launch an offering of products that would support sustainability in various business
segments in the areas of energy efficiency, the use of renewable energy sources and the circular
economy, as well as to increase the funding allocated to sustainability projects through active
participation in governmental and EU transformation programs to reduce negative environmental
impacts.
The Bank is taking proactive measures that target building a portfolio of assets that finance
environmentally sustainable activities, while adhering to the Environmental Policy and Responsible
Financing Principles. Also to this end, the Bank carried out a comprehensive project in 2023 to build
and implement a process for classifying green assets – based on the Bank’s internal business criteria
based on best market practices and based on the EU Taxonomy.
Quantitative disclosure in accordance with the templates specified in Annex VI to Regulation
2021/2178
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1.0.Summary of key performance indicators to be disclosed by credit institutions under Article 8 of the Taxonomy Regulation - disclosure taking into account the value of
mortgage loans aligned with the EU Taxonomy based on the approach described in the note "Household financing", point 3b).
Total environmentally
sustainable assets
(PLN '000)
KPI**** KPI***** % coverage (over total assets)***
% of assets excluded from the
numerator of the GAR (Article 7
(2) and (3) and Section 1.1.2.
of Annex V)
% of assets excluded from the
denominator of the GAR (Article
7 (1)) and Section 1.2.4 of
Annex V)
Main KPI Green asset ratio (GAR) stock 25 669 0,03% 0,09% 65,30% 17,82% 34,70%
Total environmentally
sustainable activities
(PLN '000)
KPI KPI % coverage (over total assets)
% of assets excluded from the
numerator of the GAR (Article 7
(2) and (3) and Section 1.1.2.
of Annex V)
% of assets excluded from the
denominator of the GAR (Article
7 (1)) and Section 1.2.4 of
Annex V)
Additional KPIs GAR (flow) 168 727 0,91% 1,26% 33,50% 16,52% 49,53%
Trading book* n/a n/a n/a
Financial guarantees 0 0,00% 0,00%
Assets under management 29 146 1,00% 3,32%
Fees and commissions income** n/a n/a n/a
* For credit institutions that do not meet the conditions of Article 94(1) of the CRR or the conditions set out in Article 325a(1) of the CRR
**Fees and commissions income from services other than lending and AuM
*** % of assets covered by the KPI over banks´ total assets
****based on the Turnover KPI of the counterparty
*****based on the CapEx KPI of the counterparty, except for lending activities where for general lending Turnover KPI is used
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1.1 Assets for the calculation of the Green Asset Ratio - turnover-based- disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy based on
the approach described in the note "Household financing", point 3b).
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae af
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator and denominator
1
Loans and advances, debt securities and equity instruments not HfT
eligible for GAR calculation
60 810 439 34 012 502 8 736 1 384 7 006 0 111 509 16 933 0 3 799 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 124 011 25 669 1 384 7 006 3 799
2 Financial undertakings 45 028 6 305 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6 305 0 0 0 0
3 Credit institutions 45 000 6 305 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6 305 0 0 0 0
4 Loans and advances 45 000 6 305 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6 305 0 0 0 0
5 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 Equity instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
7 Other financial corporations 28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
8 of which investment firms 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
9 Loans and advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
11 Equity instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
12 of which management companies 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
13 Loans and advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
15 Equity instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
16 of which insurance undertakings 28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
17 Loans and advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
19 Equity instruments 28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
20 Non-financial undertakings 2 247 842 290 923 8 736 1 384 7 006 0 111 509 16 933 0 3 799 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 402 432 25 669 1 384 7 006 3 799
21 Loans and advances 2 247 791 290 923 8 736 1 384 7 006 0 111 509 16 933 0 3 799 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 402 432 25 669 1 384 7 006 3 799
22 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
23 Equity instruments 51 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
24 Households 58 501 637 33 715 274 0 0 0 0 0 0 0 0 0 0 0 0 0 33 715 274 0 0 0 0
25 of which loans collateralised by residential immovable property 39 718 308 33 715 274 0 0 0 0 0 0 0 0 0 0 0 0 33 715 274 0 0 0 0
26 of which building renovation loans 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
27 of which motor vehicle loans 0 0 0 0 0 0 0 0 0 0 0
28 Local governments financing 15 793 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
29 Housing financing 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
30 Other local government financing 15 793 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
31
Collateral obtained by taking possession: residential and
commercial immovable properties
137 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
32
Assets excluded from the numerator for GAR calculation (covered
in the denominator)
22 816 411
33 Financial and Non-financial undertakings 18 055 270
34
SMEs and NFCs (other than SMEs) not subject to NFRD disclosure
15 090 354
35 Loans and advances 15 068 392
36 of which loans collateralised by commercial immovable property 2 510 843
37 of which building renovation loans 0
38 Debt securities 4 996
39 Equity instruments 16 966
40
Non-EU country counterparties not subject to NFRD disclosure
81 016
41 Loans and advances 2
42 Debt securities 81 014
43 Equity instruments 0
44 Derivatives 74 213
45 On demand interbank loans 571 581
46 Cash and cash-related assets 919 265
47 Other categories of assets (e.g. Goodwill, commodities etc.) 3 115 065
48 Total GAR assets 83 626 850 34 012 502 8 736 1 384 7 006 0 111 509 16 933 0 3 799 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 124 011 25 669 1 384 7 006 3 799
49 Assets not covered for GAR calculation 44 429 960
50 Central governments and Supranational issuers 29 848 241
51 Central banks exposure 13 972 795
52 Trading book 608 923
53 Total assets 128 056 809 34 012 502 8 736 1 384 7 006 0 111 509 16 933 0 3 799 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 124 011 25 669 1 384 7 006 3 799
54 Financial guarantees 7 589 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
55 Assets under management 2 920 117 178 578 26 603 0 114 18 146 2 115 2 543 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 180 694 29 146 0 114 18 146
56 Of which debt securities 1 027 682 146 238 14 119 0 0 12 489 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 146 238 14 119 0 0 12 489
57 Of which equity instruments 1 834 630 32 340 12 484 0 114 5 657 2 115 2 543 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 456 15 027 0 114 5 657
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
Climate Change Mitigation (CCM)
Of which towards taxonomy relevant sectors (Taxonomy-eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Total [gross] carrying
amount
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Of which environmentally sustainable (Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable (Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations
PLN '000
2023-12-31
210
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
1.2 Assets for the calculation of the Green Asset Ratio - capital expenditures-based- disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy
based on the approach described in the note "Household financing", point 3b).
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae af
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator and denominator
1
Loans and advances, debt securities and equity instruments not HfT
eligible for GAR calculation
60 810 439 34 450 945 72 847 1 384 1 737 1 895 126 400 4 639 0 3 550 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 577 344 77 487 1 384 1 737 5 445
2 Financial undertakings 45 028 3 231 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 231 0 0 0 0
3 Credit institutions 45 000 3 231 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 231 0 0 0 0
4 Loans and advances 45 000 3 231 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 231 0 0 0 0
5 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 Equity instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
7 Other financial corporations 28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
8 of which investment firms 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
9 Loans and advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
11 Equity instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
12 of which management companies 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
13 Loans and advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
15 Equity instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
16 of which insurance undertakings 28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
17 Loans and advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
19 Equity instruments 28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
20 Non-financial undertakings 2 247 842 732 439 72 847 1 384 1 737 1 895 126 400 4 639 0 3 550 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 858 839 77 487 1 384 1 737 5 445
21 Loans and advances 2 247 791 732 439 72 847 1 384 1 737 1 895 126 400 4 639 0 3 550 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 858 839 77 487 1 384 1 737 5 445
22 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
23 Equity instruments 51 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
24 Households 58 501 637 33 715 274 0 0 0 0 0 0 0 0 0 0 0 0 0 33 715 274 0 0 0 0
25 of which loans collateralised by residential immovable property 39 718 308 33 715 274 0 0 0 0 0 0 0 0 0 0 0 0 33 715 274 0 0 0 0
26 of which building renovation loans 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
27 of which motor vehicle loans 0 0 0 0 0 0 0 0 0 0 0
28 Local governments financing 15 793 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
29 Housing financing 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
30 Other local government financing 15 793 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
31
Collateral obtained by taking possession: residential and
commercial immovable properties
137 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
32
Assets excluded from the numerator for GAR calculation (covered
in the denominator)
22 816 411
33 Financial and Non-financial undertakings 18 055 270
34
SMEs and NFCs (other than SMEs) not subject to NFRD disclosure
15 090 354
35 Loans and advances 15 068 392
36 of which loans collateralised by commercial immovable property 2 510 843
37 of which building renovation loans 0
38 Debt securities 4 996
39 Equity instruments 16 966
40
Non-EU country counterparties not subject to NFRD disclosure
81 016
41 Loans and advances 2
42 Debt securities 81 014
43 Equity instruments 0
44 Derivatives 74 213
45 On demand interbank loans 571 581
46 Cash and cash-related assets 919 265
47 Other categories of assets (e.g. Goodwill, commodities etc.) 3 115 065
48 Total GAR assets 83 626 850 34 450 945 72 847 1 384 1 737 1 895 126 400 4 639 0 3 550 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 577 344 77 487 1 384 1 737 5 445
49 Assets not covered for GAR calculation 44 429 960
50 Central governments and Supranational issuers 29 848 241
51 Central banks exposure 13 972 795
52 Trading book 608 923
53 Total assets 128 056 809 34 450 945 72 847 1 384 1 737 1 895 126 400 4 639 0 3 550 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 577 344 77 487 1 384 1 737 5 445
54 Financial guarantees 7 589 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
55 Assets under management 2 920 117 208 129 91 771 0 3 042 66 636 6 580 5 431 0 628 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 214 709 97 201 0 3 042 67 264
56 Of which debt securities 1 027 682 128 447 66 621 0 1 860 56 658 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 128 447 66 621 0 1 860 56 658
57 Of which equity instruments 1 834 630 79 682 25 149 0 1 182 9 978 6 580 5 431 0 628 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 86 262 30 580 0 1 182 10 606
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
Climate Change Mitigation (CCM)
Of which towards taxonomy relevant sectors (Taxonomy-eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Total [gross]
carrying amount
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Of which environmentally sustainable (Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable (Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations
PLN '000
2023-12-31
211
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
2. GAR sector information
a b c
d e f g h i j k l m n o p q r s t u v w x y z aa ab
PLN '000
Of which
environmentally
sustainable (CCM)
PLN '000
Of which
environmentally
sustainable (CCM)
PLN '000
Of which
environmentally
sustainable (CCA)
PLN '000
Of which
environmentally
sustainable (CCA)
PLN '000
Of which
environmentally
sustainable (WTR)
PLN '000
Of which
environmentally
sustainable (WTR)
PLN '000
Of which
environmentally
sustainable (CE)
PLN '000
Of which
environmentally
sustainable (CE)
PLN '000
Of which
environmentally
sustainable (PPC)
PLN '000
Of which
environmentally
sustainable (PPC)
PLN '000
Of which
environmentally
sustainable (BIO)
PLN '000
Of which
environmentally
sustainable (BIO)
PLN '000
Of which environmentally
sustainable (CCM + CCA +
WTR + CE + PPC + BIO)
PLN '000
Of which
environmentally
sustainable (CCM + CCA +
WTR + CE + PPC + BIO)
1
27.51 - Manufacture of electric domestic appliances 5 939 1 398 155 3 0 0 0 0 0 0 0 0 6 093,94 1 401,20
2
26.51 - Manufacture of instruments and appliances for measuring,
testing and nav igation
5 5 0 0 0 0 0 0 0 0 0 0 5,25 5,25
3
26.51 - Manufacture of instruments and appliances for measuring,
testing and nav igation
5 5 0 0 0 0 0 0 0 0 0 0 5,25 5,25
4
33.13 - Repair and maintenance of electronic and optical equipment 0 0 0 0 0 0 0 0 0 0 0 0 0,00 0,00
5
42.99 - Works related to construction of other civil engineering
projects not elsewhere classified
55 0 0 0 0 0 0 0 0 0 0 0 54,99 0,00
6
29.32 - Manufacture of other parts and accessories for motor
vehicles excluding motorcycles
3 0 0 0 0 0 0 0 0 0 0 0 2,69 0,00
7
42.12 - Works related to construction of railways and underground
railways
3 626 0 0 0 0 0 0 0 0 0 0 0 3 626,44 0,00
8
47.72 - Retail sale of footwear and leather goods in specialised
stores
8 3 0 0 0 0 0 0 0 0 0 0 8,01 3,20
9
46.42 - Wholesale of clothing and footwear 26 10 0 0 0 0 0 0 0 0 0 0 26,25 10,50
10
46.75 - Wholesale of chemical products 0 0 104 317 13 040 0 0 0 0 0 0 0 0 104 316,84 13 039,60
Non-Financial corporates (Subject to NFRD)
SMEs and other NFC not subject to NFRD
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
[Gross] carrying amount
Breakdown by sector - NACE 4 digits level (code and label)
Climate Change Mitigation (CCM)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Non-Financial corporates (Subject to NFRD)
SMEs and other NFC not subject to NFRD
Non-Financial corporates (Subject to NFRD)
SMEs and other NFC not subject to NFRD
Non-Financial corporates (Subject to NFRD)
SMEs and other NFC not subject to NFRD
Non-Financial corporates (Subject to NFRD)
SMEs and other NFC not subject to NFRD
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
Non-Financial corporates (Subject to NFRD)
SMEs and other NFC not subject to NFRD
Non-Financial corporates (Subject to NFRD)
SMEs and other NFC not subject to NFRD
TOTAL (CCM + CCA + WMR + CE + P + BE)
[Gross] carrying amount
[Gross] carrying amount
212
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
3.1 GAR KPI stock - turnover-based- disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy based on the approach described in the note
"Household financing", point 3b).
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae af
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator and denominator
1
Loans and advances, debt securities and equity instruments not
HfT eligible for GAR calculation
40,67% 0,01% 0,00% 0,01% 0,00% 0,13% 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 40,81% 0,03% 0,00% 0,01% 0,00% 72,72%
2 Financial undertakings 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,01% 0,00% 0,00% 0,00% 0,00% 0,05%
3 Credit institutions 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,01% 0,00% 0,00% 0,00% 0,00% 0,05%
4 Loans and advances 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,01% 0,00% 0,00% 0,00% 0,00% 0,05%
5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
6 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
8 of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
9 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
11 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
12 of which management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
13 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
15 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
16 of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
17 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
19 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
20 Non-financial undertakings 0,35% 0,01% 0,00% 0,01% 0,00% 0,13% 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,48% 0,03% 0,00% 0,01% 0,00% 2,69%
21 Loans and advances 0,35% 0,01% 0,00% 0,01% 0,00% 0,13% 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,48% 0,03% 0,00% 0,01% 0,00% 2,69%
22 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
23 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
24 Households 40,32% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 40,32% 0,00% 0,00% 0,00% 0,00% 69,96%
25 of which loans collateralised by residential immovable property 40,32% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 40,32% 0,00% 0,00% 0,00% 0,00% 47,49%
26 of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
27 of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
28 Local governments financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,02%
29 Housing financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
30 Other local government financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,02%
31
Collateral obtained by taking possession: residential and
commercial immovable properties
0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
32 Total GAR assets 40,67% 0,01% 0,00% 0,01% 0,00% 0,13% 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 40,81% 0,03% 0,00% 0,01% 0,00% 100,00%
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-aligned)
% (compared to total covered assets in the denominator)
2023-12-31
Water and marine resources (WTR)
Proportion of
total assets
covered
Climate Change Mitigation (CCM)
Proportion of total covered assets funding taxonomy relevant sectors
(Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy relevant sectors
(Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Climate Change Adaptation (CCA)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
213
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
3.2 GAR KPI stock - capital expenditures-based- disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy based on the approach described in
the note "Household financing", point 3b).
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae af
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator and denominator
1
Loans and advances, debt securities and equity instruments not HfT
eligible for GAR calculation
41,20% 0,09% 0,00% 0,00% 0,00% 0,15% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 41,35% 0,09% 0,00% 0,00% 0,01% 72,72%
2 Financial undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,04%
3 Credit institutions 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,04%
4 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,04%
5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
6 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
8 of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
9 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
11 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
12 of which management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
13 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
15 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
16 of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
17 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
19 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
20 Non-financial undertakings 0,88% 0,09% 0,00% 0,00% 0,00% 0,15% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 1,03% 0,09% 0,00% 0,00% 0,01% 1,76%
21 Loans and advances 0,88% 0,09% 0,00% 0,00% 0,00% 0,15% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 1,03% 0,09% 0,00% 0,00% 0,01% 1,76%
22 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
23 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
24 Households 40,32% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 40,32% 0,00% 0,00% 0,00% 0,00% 45,68%
25 of which loans collateralised by residential immovable property 40,32% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 40,32% 0,00% 0,00% 0,00% 0,00% 31,02%
26 of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
27 of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
28 Local governments financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,01%
29 Housing financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
30 Other local government financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,01%
31
Collateral obtained by taking possession: residential and commercial
immovable properties
0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
32 Total GAR assets 41,20% 0,09% 0,00% 0,00% 0,00% 0,15% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 41,35% 0,09% 0,00% 0,00% 0,01% 100,00%
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-aligned)
% (compared to total covered assets in the denominator)
2023-12-31
Water and marine resources (WTR)
Proportion of
total assets
covered
Climate Change Mitigation (CCM)
Proportion of total covered assets funding taxonomy relevant sectors
(Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy relevant sectors
(Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Climate Change Adaptation (CCA)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
214
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
4.1 GAR KPI flow - turnover-based - disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy based on the approach described in the note
"Household financing", point 3b).
* In Table 4.1, the Group only includes exposures that were recognized in the Group’s accounting records for the first time in 2023.
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae af
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator and denominator
1
Loans and advances, debt securities and equity instruments not HfT
eligible for GAR calculation
18,53% 0,91% 0,88% 0,04% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18,53% 0,91% 0,88% 0,04% 0,00% 50,67%
2 Financial undertakings 0,03% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,03% 0,00% 0,00% 0,00% 0,00% 0,24%
3 Credit institutions 0,03% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,03% 0,00% 0,00% 0,00% 0,00% 0,24%
4 Loans and advances 0,03% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,03% 0,00% 0,00% 0,00% 0,00% 0,24%
5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
6 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
8 of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
9 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
11 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
12 of which management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
13 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
15 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
16 of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
17 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
19 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
20 Non-financial undertakings 0,50% 0,04% 0,00% 0,04% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,50% 0,04% 0,00% 0,04% 0,00% 8,05%
21 Loans and advances 0,50% 0,04% 0,00% 0,04% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,50% 0,04% 0,00% 0,04% 0,00% 8,05%
22 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
23 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
24 Households 18,00% 0,88% 0,88% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18,00% 0,88% 0,88% 0,00% 0,00% 42,37%
25 of which loans collateralised by residential immovable property 18,00% 0,88% 0,88% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18,00% 0,88% 0,88% 0,00% 0,00% 14,07%
26 of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,37%
27 of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
28 Local governments financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
29 Housing financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
30 Other local government financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
31
Collateral obtained by taking possession: residential and commercial
immovable properties
0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
32 Total GAR assets 18,53% 0,91% 0,88% 0,04% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18,53% 0,91% 0,88% 0,04% 0,00% 100,00%
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Proportion of total covered assets funding taxonomy relevant
% (compared to flow of total eligible assets)
2023-12-31
Water and marine resources (WTR)
Proportion of
total new
assets covered
Climate Change Mitigation (CCM)
Proportion of total covered assets funding taxonomy relevant sectors
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant sectors
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant
Climate Change Adaptation (CCA)
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
215
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
4.2 GAR KPI flow - capital expenditures-based - disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy based on the approach described in
the note "Household financing", point 3b).
* In Table 4.2, the Group only includes exposures that were recognized in the Group’s accounting records for the first time in 2023.
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae af
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Of which
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of Proceeds
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enabling
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of Proceeds
Of which
enabling
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of Proceeds
Of which
enabling
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of Proceeds
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Of which
enabling
GAR - Covered assets in both numerator and denominator
1
Loans and advances, debt securities and equity instruments not HfT
eligible for GAR calculation
20,47% 1,26% 0,88% 0,01% 0,01% 0,04% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 20,51% 1,26% 0,88% 0,01% 0,01% 50,67%
2 Financial undertakings 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,02% 0,00% 0,00% 0,00% 0,00% 0,24%
3 Credit institutions 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,02% 0,00% 0,00% 0,00% 0,00% 0,24%
4 Loans and advances 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,02% 0,00% 0,00% 0,00% 0,00% 0,24%
5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
6 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
8 of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
9 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
11 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
12 of which management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
13 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
15 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
16 of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
17 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
19 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
20 Non-financial undertakings 2,46% 0,38% 0,00% 0,01% 0,01% 0,04% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 2,50% 0,39% 0,00% 0,01% 0,01% 8,05%
21 Loans and advances 2,46% 0,38% 0,00% 0,01% 0,01% 0,04% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 2,50% 0,39% 0,00% 0,01% 0,01% 8,05%
22 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
23 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
24 Households 18,00% 0,88% 0,88% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18,00% 0,88% 0,88% 0,00% 0,00% 42,37%
25 of which loans collateralised by residential immovable property 18,00% 0,88% 0,88% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18,00% 0,88% 0,88% 0,00% 0,00% 14,07%
26 of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,37%
27 of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
28 Local governments financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
29 Housing financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
30 Other local government financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
31
Collateral obtained by taking possession: residential and commercial
immovable properties
0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
32 Total GAR assets 20,47% 1,26% 0,88% 0,01% 0,01% 0,04% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 20,51% 1,26% 0,88% 0,01% 0,01% 100,00%
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Proportion of total covered assets funding taxonomy relevant
% (compared to flow of total eligible assets)
2023-12-31
Water and marine resources (WTR)
Proportion of
total new
assets covered
Climate Change Mitigation (CCM)
Proportion of total covered assets funding taxonomy relevant sectors
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant sectors
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant
Climate Change Adaptation (CCA)
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
216
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
5.1 KPI off-balance sheet exposures - turnover-based
5.2 KPI off-balance sheet exposures - capital expenditures-based
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae
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Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
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Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
1 Financial guarantees (FinGuar KPI) 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
2 Assets under management (AuM KPI) 6,10% 0,91% 0,00% 0,00% 0,62% 0,07% 0,09% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 6,17% 1,00% 0,00% 0,00% 0,62%
Water and marine resources (WTR)
Proportion of total covered assets funding taxonomy
Proportion of total covered assets funding taxonomy
Proportion of total covered assets funding taxonomy
Proportion of total covered assets funding taxonomy
Proportion of total covered assets funding
Climate Change Mitigation (CCM)
Proportion of total covered assets funding taxonomy relevant sectors
Proportion of total covered assets funding taxonomy relevant sectors
% (compared to total eligible off-balance sheet assets)
2023-12-31
Proportion of total covered assets funding taxonomy
Proportion of total covered assets funding
Proportion of total covered assets funding taxonomy
Climate Change Adaptation (CCA)
Circular economy (CE)
Pollution (PPC)
Proportion of total covered assets funding taxonomy
Proportion of total covered assets funding
Biodiversity and Ecosystems (BIO)
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Proportion of total covered assets funding
Proportion of total covered assets funding
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
1 Financial guarantees (FinGuar KPI) 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
2 Assets under management (AuM KPI) 7,11% 3,13% 0,00% 0,10% 2,28% 0,22% 0,19% 0,00% 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 7,33% 3,32% 0,00% 0,10% 2,30%
Proportion of total covered assets funding taxonomy relevant sectors
Proportion of total covered assets funding
Proportion of total covered assets funding taxonomy
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding taxonomy
Proportion of total covered assets funding taxonomy
Proportion of total covered assets funding taxonomy
Proportion of total covered assets funding taxonomy
Proportion of total covered assets funding taxonomy
% (compared to total eligible off-balance sheet assets)
Climate Change Mitigation (CCM)
Proportion of total covered assets funding taxonomy relevant sectors
Proportion of total covered assets funding taxonomy
Biodiversity and Ecosystems (BIO)
2023-12-31
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Circular economy (CE)
Pollution (PPC)
217
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
As explained in the descriptive note “Household financing”, we also present disclosures in the tables below,
which take into account the value of mortgage loans aligned with the EU Taxonomy based on the approach
described in the note "Household financing", point 3a):
1.0 Summary of key performance indicators to be disclosed by credit institutions under Article 8
of the Taxonomy Regulation
1.1 Assets for the calculation of the Green Asset Ratio - turnover-based
1.2 Assets for the calculation of the Green Asset Ratio - capital expenditures-based
3.1 GAR KPI stock - turnover-based
3.2 GAR KPI stock - capital expenditures-based
4.1 GAR KPI flow - turnover-based
4.2 GAR KPI flow - capital expenditures-based
218
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
1.0 Summary of key performance indicators to be disclosed by credit institutions under Article 8 of the Taxonomy Regulation- disclosure taking into account the value of
mortgage loans aligned with the EU Taxonomy based on the approach described in the note "Household financing", point 3a).
Total environmentally
sustainable assets
(PLN '000)
KPI**** KPI***** % coverage (over total assets)***
% of assets excluded from the
numerator of the GAR (Article 7
(2) and (3) and Section 1.1.2.
of Annex V)
% of assets excluded from the
denominator of the GAR (Article
7 (1)) and Section 1.2.4 of
Annex V)
Main KPI Green asset ratio (GAR) stock 5 733 748 6,86% 6,92% 65,30% 17,82% 34,70%
Total environmentally
sustainable activities
(PLN '000)
KPI KPI % coverage (over total assets)
% of assets excluded from the
numerator of the GAR (Article 7
(2) and (3) and Section 1.1.2.
of Annex V)
% of assets excluded from the
denominator of the GAR (Article
7 (1)) and Section 1.2.4 of
Annex V)
Additional KPIs GAR (flow) 168 727 0,91% 1,26% 33,50% 16,52% 49,53%
Trading book* n/a n/a n/a
Financial guarantees 0 0,00% 0,00%
Assets under management 29 146 1,00% 3,32%
Fees and commissions income** n/a n/a n/a
* For credit institutions that do not meet the conditions of Article 94(1) of the CRR or the conditions set out in Article 325a(1) of the CRR
**Fees and commissions income from services other than lending and AuM
*** % of assets covered by the KPI over banks´ total assets
****based on the Turnover KPI of the counterparty
*****based on the CapEx KPI of the counterparty, except for lending activities where for general lending Turnover KPI is used
219
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
1.1 Assets for the calculation of the Green Asset Ratio - turnover-based - disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy based on
the approach described in the note "Household financing", point 3a).
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae af
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Wskaźnik zielonych aktywów - aktywa objęte wskaźnikiem
zarówno w liczniku, jak i w mianowniku
1
Loans and advances, debt securities and equity instruments not HfT
eligible for GAR calculation
60 810 439 34 012 502 5 716 814 5 709 462 7 006 0 111 509 16 933 0 3 799 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 124 011 5 733 748 5 709 462 7 006 3 799
2 Financial undertakings 45 028 6 305 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6 305 0 0 0 0
3 Credit institutions 45 000 6 305 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6 305 0 0 0 0
4 Loans and advances 45 000 6 305 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6 305 0 0 0 0
5 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 Equity instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
7 Other financial corporations 28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
8 of which investment firms 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
9 Loans and advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
11 Equity instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
12 of which management companies 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
13 Loans and advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
15 Equity instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
16 of which insurance undertakings 28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
17 Loans and advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
19 Equity instruments 28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
20 Non-financial undertakings 2 247 842 290 923 8 736 1 384 7 006 0 111 509 16 933 0 3 799 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 402 432 25 669 1 384 7 006 3 799
21 Loans and advances 2 247 791 290 923 8 736 1 384 7 006 0 111 509 16 933 0 3 799 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 402 432 25 669 1 384 7 006 3 799
22 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
23 Equity instruments 51 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
24 Households 58 501 637 33 715 274 5 708 078 5 708 078 0 0 0 0 0 0 0 0 0 0 0 33 715 274 5 708 078 5 708 078 0 0
25 of which loans collateralised by residential immovable property 39 718 308 33 715 274 5 708 078 5 708 078 0 0 0 0 0 0 0 0 0 0 33 715 274 5 708 078 5 708 078 0 0
26 of which building renovation loans 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
27 of which motor vehicle loans 0 0 0 0 0 0 0 0 0 0 0
28 Local governments financing 15 793 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
29 Housing financing 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
30 Other local government financing 15 793 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
31
Collateral obtained by taking possession: residential and
commercial immovable properties
137 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
32
Assets excluded from the numerator for GAR calculation (covered
in the denominator)
22 816 411
33 Financial and Non-financial undertakings 18 055 270
34
SMEs and NFCs (other than SMEs) not subject to NFRD disclosure
15 090 354
35 Loans and advances 15 068 392
36 of which loans collateralised by commercial immovable property 2 510 843
37 of which building renovation loans 0
38 Debt securities 4 996
39 Equity instruments 16 966
40
Non-EU country counterparties not subject to NFRD disclosure
81 016
41 Loans and advances 2
42 Debt securities 81 014
43 Equity instruments 0
44 Derivatives 74 213
45 On demand interbank loans 571 581
46 Cash and cash-related assets 919 265
47 Other categories of assets (e.g. Goodwill, commodities etc.) 3 115 065
48 Total GAR assets 83 626 850 34 012 502 5 716 814 5 709 462 7 006 0 111 509 16 933 0 3 799 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 124 011 5 733 748 5 709 462 7 006 3 799
49 Assets not covered for GAR calculation 44 429 960
50 Central governments and Supranational issuers 29 848 241
51 Central banks exposure 13 972 795
52 Trading book 608 923
53 Total assets 128 056 809 34 012 502 5 716 814 5 709 462 7 006 0 111 509 16 933 0 3 799 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 124 011 5 733 748 5 709 462 7 006 3 799
54 Financial guarantees 7 589 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
55 Assets under management 2 920 117 178 578 26 603 0 114 18 146 2 115 2 543 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 180 694 29 146 0 114 18 146
56 Of which debt securities 1 027 682 146 238 14 119 0 0 12 489 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 146 238 14 119 0 0 12 489
57 Of which equity instruments 1 834 630 32 340 12 484 0 114 5 657 2 115 2 543 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 456 15 027 0 114 5 657
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations
PLN '000
2023-12-31
Total [gross] carrying
amount
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Of which environmentally sustainable (Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable (Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Climate Change Mitigation (CCM)
Of which towards taxonomy relevant sectors (Taxonomy-eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
220
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
1.2 Assets for the calculation of the Green Asset Ratio - capital expenditures-based- disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy
based on the approach described in the note "Household financing", point 3a).
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae af
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator and denominator
1
Loans and advances, debt securities and equity instruments not
eligible for GAR calculation
60 810 439 34 450 945 5 780 925 5 709 462 1 737 1 895 126 400 4 639 0 3 550 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 577 344 5 785 565 5 709 462 1 737 5 445
2 Financial undertakings 45 028 3 231 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 231 0 0 0 0
3 Credit institutions 45 000 3 231 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 231 0 0 0 0
4 Loans and advances 45 000 3 231 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 231 0 0 0 0
5 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
6 Equity instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
7 Other financial corporations 28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
8 of which investment firms 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
9 Loans and advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
10 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
11 Equity instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
12 of which management companies 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
13 Loans and advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
14 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
15 Equity instruments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
16 of which insurance undertakings 28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
17 Loans and advances 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
18 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
19 Equity instruments 28 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
20 Non-financial undertakings 2 247 842 732 439 72 847 1 384 1 737 1 895 126 400 4 639 0 3 550 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 858 839 77 487 1 384 1 737 5 445
21 Loans and advances 2 247 791 732 439 72 847 1 384 1 737 1 895 126 400 4 639 0 3 550 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 858 839 77 487 1 384 1 737 5 445
22 Debt securities, including UoP 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
23 Equity instruments 51 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
24 Households 58 501 637 33 715 274 5 708 078 5 708 078 0 0 0 0 0 0 0 0 0 0 0 33 715 274 5 708 078 5 708 078 0 0
25 of which loans collateralised by residential immovable property 39 718 308 33 715 274 5 708 078 5 708 078 0 0 0 0 0 0 0 0 0 0 33 715 274 5 708 078 5 708 078 0 0
26 of which building renovation loans 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
27 of which motor vehicle loans 0 0 0 0 0 0 0 0 0 0 0
28 Local governments financing 15 793 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
29 Housing financing 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
30 Other local government financing 15 793 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
31
Collateral obtained by taking possession: residential and
commercial immovable properties
137 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
32
Assets excluded from the numerator for GAR calculation (covered
in the denominator)
22 816 411
33 Financial and Non-financial undertakings 18 055 270
34
SMEs and NFCs (other than SMEs) not subject to NFRD disclosure
15 090 354
35 Loans and advances 15 068 392
36 of which loans collateralised by commercial immovable property 2 510 843
37 of which building renovation loans 0
38 Debt securities 4 996
39 Equity instruments 16 966
40
Non-EU country counterparties not subject to NFRD disclosure
81 016
41 Loans and advances 2
42 Debt securities 81 014
43 Equity instruments 0
44 Derivatives 74 213
45 On demand interbank loans 571 581
46 Cash and cash-related assets 919 265
47 Other categories of assets (e.g. Goodwill, commodities etc.) 3 115 065
48 Total GAR assets 83 626 850 34 450 945 5 780 925 5 709 462 1 737 1 895 126 400 4 639 0 3 550 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 577 344 5 785 565 5 709 462 1 737 5 445
49 Assets not covered for GAR calculation 44 429 960
50 Central governments and Supranational issuers 29 848 241
51 Central banks exposure 13 972 795
52 Trading book 608 923
53 Total assets 128 056 809 34 450 945 5 780 925 5 709 462 1 737 1 895 126 400 4 639 0 3 550 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 34 577 344 5 785 565 5 709 462 1 737 5 445
54 Financial guarantees 7 589 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
55 Assets under management 2 920 117 208 129 91 771 0 3 042 66 636 6 580 5 431 0 628 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 214 709 97 201 0 3 042 67 264
56 Of which debt securities 1 027 682 128 447 66 621 0 1 860 56 658 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 128 447 66 621 0 1 860 56 658
57 Of which equity instruments 1 834 630 79 682 25 149 0 1 182 9 978 6 580 5 431 0 628 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 86 262 30 580 0 1 182 10 606
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
Climate Change Mitigation (CCM)
Of which towards taxonomy relevant sectors (Taxonomy-eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Climate Change Adaptation (CCA)
Water and marine resources (WTR)
Total [gross]
carrying amount
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Of which environmentally sustainable (Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable (Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which environmentally sustainable
(Taxonomy-aligned)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Of which towards taxonomy relevant sectors (Taxonomy-
eligible)
Off-balance sheet exposures - Undertakings subject to NFRD disclosure obligations
PLN '000
2023-12-31
221
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
3.1 GAR KPI stock - turnover-based- disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy based on the approach described in the note
"Household financing", point 3a).
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae af
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator and denominator
1
Loans and advances, debt securities and equity instruments not
HfT eligible for GAR calculation
40,67% 6,84% 6,83% 0,01% 0,00% 0,13% 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 40,81% 6,86% 6,83% 0,01% 0,00% 72,72%
2 Financial undertakings 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,01% 0,00% 0,00% 0,00% 0,00% 0,05%
3 Credit institutions 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,01% 0,00% 0,00% 0,00% 0,00% 0,05%
4 Loans and advances 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,01% 0,00% 0,00% 0,00% 0,00% 0,05%
5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
6 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
8 of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
9 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
11 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
12 of which management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
13 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
15 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
16 of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
17 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
19 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
20 Non-financial undertakings 0,35% 0,01% 0,00% 0,01% 0,00% 0,13% 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,48% 0,03% 0,00% 0,01% 0,00% 2,69%
21 Loans and advances 0,35% 0,01% 0,00% 0,01% 0,00% 0,13% 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,48% 0,03% 0,00% 0,01% 0,00% 2,69%
22 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
23 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
24 Households 40,32% 6,83% 6,83% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 40,32% 6,83% 6,83% 0,00% 0,00% 69,96%
25 of which loans collateralised by residential immovable property 40,32% 6,83% 6,83% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 40,32% 6,83% 6,83% 0,00% 0,00% 47,49%
26 of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
27 of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
28 Local governments financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,02%
29 Housing financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
30 Other local government financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,02%
31
Collateral obtained by taking possession: residential and
commercial immovable properties
0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
32 Total GAR assets 40,67% 6,84% 6,83% 0,01% 0,00% 0,13% 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 40,81% 6,86% 6,83% 0,01% 0,00% 100,00%
Climate Change Adaptation (CCA)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
% (compared to total covered assets in the denominator)
2023-12-31
Water and marine resources (WTR)
Proportion of
total assets
covered
Climate Change Mitigation (CCM)
Proportion of total covered assets funding taxonomy relevant sectors
(Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy relevant sectors
(Taxonomy-eligible)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-aligned)
222
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
3.2 GAR KPI stock - capital expenditures-based - disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy based on the approach described in
the note "Household financing", point 3a).
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae af
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator and denominator
1
Loans and advances, debt securities and equity instruments not HfT
eligible for GAR calculation
41,20% 6,91% 6,83% 0,00% 0,00% 0,15% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 41,35% 6,92% 6,83% 0,00% 0,01% 72,72%
2 Financial undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,04%
3 Credit institutions 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,04%
4 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,04%
5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
6 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
8 of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
9 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
11 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
12 of which management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
13 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
15 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
16 of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
17 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
19 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
20 Non-financial undertakings 0,88% 0,09% 0,00% 0,00% 0,00% 0,15% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 1,03% 0,09% 0,00% 0,00% 0,01% 1,76%
21 Loans and advances 0,88% 0,09% 0,00% 0,00% 0,00% 0,15% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 1,03% 0,09% 0,00% 0,00% 0,01% 1,76%
22 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
23 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
24 Households 40,32% 6,83% 6,83% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 40,32% 6,83% 6,83% 0,00% 0,00% 45,68%
25 of which loans collateralised by residential immovable property 40,32% 6,83% 6,83% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 40,32% 6,83% 6,83% 0,00% 0,00% 31,02%
26 of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
27 of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
28 Local governments financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,01%
29 Housing financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
30 Other local government financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,01%
31
Collateral obtained by taking possession: residential and commercial
immovable properties
0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
32 Total GAR assets 41,20% 6,91% 6,83% 0,00% 0,00% 0,15% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 41,35% 6,92% 6,83% 0,00% 0,01% 100,00%
Climate Change Adaptation (CCA)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding
taxonomy relevant sectors (Taxonomy-
aligned)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
% (compared to total covered assets in the denominator)
2023-12-31
Water and marine resources (WTR)
Proportion of
total assets
covered
Climate Change Mitigation (CCM)
Proportion of total covered assets funding taxonomy relevant sectors
(Taxonomy-eligible)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-eligible)
Proportion of total covered assets funding taxonomy relevant sectors
(Taxonomy-eligible)
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Proportion of total covered assets funding taxonomy
relevant sectors (Taxonomy-aligned)
223
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
4.1 GAR KPI flow - turnover-based - disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy based on the approach described in the note
"Household financing", point 3a).
* In Table 4.1, the Group only includes exposures that were recognized in the Group’s accounting records for the first time in 2023.
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae af
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator and denominator
1
Loans and advances, debt securities and equity instruments not HfT
eligible for GAR calculation
18,53% 0,91% 0,88% 0,04% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18,53% 0,91% 0,88% 0,04% 0,00% 50,67%
2 Financial undertakings 0,03% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,03% 0,00% 0,00% 0,00% 0,00% 0,24%
3 Credit institutions 0,03% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,03% 0,00% 0,00% 0,00% 0,00% 0,24%
4 Loans and advances 0,03% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,03% 0,00% 0,00% 0,00% 0,00% 0,24%
5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
6 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
8 of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
9 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
11 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
12 of which management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
13 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
15 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
16 of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
17 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
19 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
20 Non-financial undertakings 0,50% 0,04% 0,00% 0,04% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,50% 0,04% 0,00% 0,04% 0,00% 8,05%
21 Loans and advances 0,50% 0,04% 0,00% 0,04% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,50% 0,04% 0,00% 0,04% 0,00% 8,05%
22 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
23 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
24 Households 18,00% 0,88% 0,88% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18,00% 0,88% 0,88% 0,00% 0,00% 42,37%
25 of which loans collateralised by residential immovable property 18,00% 0,88% 0,88% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18,00% 0,88% 0,88% 0,00% 0,00% 14,07%
26 of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,37%
27 of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
28 Local governments financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
29 Housing financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
30 Other local government financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
31
Collateral obtained by taking possession: residential and commercial
immovable properties
0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
32 Total GAR assets 18,53% 0,91% 0,88% 0,04% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18,53% 0,91% 0,88% 0,04% 0,00% 100,00%
Climate Change Adaptation (CCA)
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant
% (compared to flow of total eligible assets)
2023-12-31
Water and marine resources (WTR)
Proportion of
total new
assets covered
Climate Change Mitigation (CCM)
Proportion of total covered assets funding taxonomy relevant sectors
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant sectors
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Proportion of total covered assets funding taxonomy relevant
224
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
4.2 GAR KPI flow - capital expenditures-based - disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy based on the approach described in
the note "Household financing", point 3a).
* In Table 4.2, the Group only includes exposures that were recognized in the Group’s accounting records for the first time in 2023.
a b c d e f g h i j k l m n o p q r s t u v w x z aa ab ac ad ae af
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
enabling
Of which Use
of Proceeds
Of which
transitional
Of which
enabling
GAR - Covered assets in both numerator and denominator
1
Loans and advances, debt securities and equity instruments not HfT
eligible for GAR calculation
20,47% 1,26% 0,88% 0,01% 0,01% 0,04% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 20,51% 1,26% 0,88% 0,01% 0,01% 50,67%
2 Financial undertakings 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,02% 0,00% 0,00% 0,00% 0,00% 0,24%
3 Credit institutions 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,02% 0,00% 0,00% 0,00% 0,00% 0,24%
4 Loans and advances 0,02% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,02% 0,00% 0,00% 0,00% 0,00% 0,24%
5 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
6 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
7 Other financial corporations 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
8 of which investment firms 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
9 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
10 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
11 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
12 of which management companies 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
13 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
14 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
15 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
16 of which insurance undertakings 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
17 Loans and advances 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
18 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
19 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
20 Non-financial undertakings 2,46% 0,38% 0,00% 0,01% 0,01% 0,04% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 2,50% 0,39% 0,00% 0,01% 0,01% 8,05%
21 Loans and advances 2,46% 0,38% 0,00% 0,01% 0,01% 0,04% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 2,50% 0,39% 0,00% 0,01% 0,01% 8,05%
22 Debt securities, including UoP 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
23 Equity instruments 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
24 Households 18,00% 0,88% 0,88% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18,00% 0,88% 0,88% 0,00% 0,00% 42,37%
25 of which loans collateralised by residential immovable property 18,00% 0,88% 0,88% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 18,00% 0,88% 0,88% 0,00% 0,00% 14,07%
26 of which building renovation loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,37%
27 of which motor vehicle loans 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
28 Local governments financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
29 Housing financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
30 Other local government financing 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
31
Collateral obtained by taking possession: residential and commercial
immovable properties
0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00%
32 Total GAR assets 20,47% 1,26% 0,88% 0,01% 0,01% 0,04% 0,01% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 0,00% 20,51% 1,26% 0,88% 0,01% 0,01% 100,00%
Climate Change Adaptation (CCA)
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant
% (compared to flow of total eligible assets)
2023-12-31
Water and marine resources (WTR)
Proportion of
total new
assets covered
Climate Change Mitigation (CCM)
Proportion of total covered assets funding taxonomy relevant sectors
Proportion of total covered assets funding taxonomy relevant
Proportion of total covered assets funding taxonomy relevant sectors
Circular economy (CE)
Pollution (PPC)
Biodiversity and Ecosystems (BIO)
TOTAL (CCM + CCA + WTR + CE + PPC + BIO)
Proportion of total covered assets funding taxonomy relevant
225
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Quantitative disclosures prepared in accordance with the formulas laid down in Annex XII of Regulation
2021/2178 - Nuclear and fossil gas related disclosures
The Group has reviewed its portfolio to identify exposures that finance any of the nuclear energy or fossil
gas related activities listed in Regulation 2022/1214.
The Group has not identified any use-of-proceeds / investment financing for these purposes. However, the
Group has identified general purpose financing related to the fossil gas related activity of the Group’s
clients. The identification was based on key performance indicators published by the Group's clients in this
respect.
Relevant quantitative disclosures related to the financing of the above activities is presented below9F
10
.
Nuclear energy and fossil gas related activities
10
The Group does not disclose tables derived from Template 5 of Annex XII to Regulation 2021/2178, due to limited informational
value of these templates for banking activities (the Group has not identified a method for reporting Taxonomy-non-eligible activities
while at the same time, as specified in template, allocating them to the specific taxonomy activities 4.26-4.31). The Group believes
that the tables presented above present the full picture of the Group’s activity related to the financing of the activities referred to
in the above annex
Nuclear and fossil gas related activities
Row
1.
The Bank funds or has exposures to research, development, demonstration and deployment
of innovative electricity generation facilities that produce energy from nuclear processes
with minimal waste from the fuel cycle.
NO
2.
The Bank funds or has exposures to construction and safe operation of new nuclear
installations to produce electricity or process heat, including for the purposes of district
heating or industrial processes such as hydrogen production, as well as their safety upgrades,
using best available technologies.
NO
3.
The Bank funds or has exposures to safe operation of existing nuclear installations that
produce electricity or process heat, including for the purposes of district heating or industrial
processes such as hydrogen production from nuclear energy, as well as their safety upgrades.
NO
4.
The Bank funds or has exposures to construction or operation of electricity generation
facilities that produce electricity using fossil gaseous fuels.
NO
5.
The Bank funds or has exposures to construction, refurbishment, and operation of combined
heat/cool and power generation facilities using fossil gaseous fuels.
NO
6.
The Bank funds or has exposures to construction, refurbishment and operation of heat
generation facilities that produce heat/cool using fossil gaseous fuels.
NO
Nuclear energy related activities
Fossil gas related activities
Taxonomy-aligned economic activity (denominator) - turnover-based - disclosure taking into account
the value of mortgage loans aligned with the EU Taxonomy based on the approach described in the
note "Household financing", point 3b).
Taxonomy-aligned economic activity (numerator) - turnover-based - disclosure taking into account the
value of mortgage loans aligned with the EU Taxonomy based on the approach described in the note
"Household financing", point 3b).
Amount % Amount % Amount %
1.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
2.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
3.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
4.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
5.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
6.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
13 041 0,00% 0 0,00% 13 041 0,00%
7.
Amount and proportion of other taxonomy-aligned economic activities
not referred to in rows 1 to 6 above in the denominator of the applicable
KPI
12 628 0,00% 8 736 0,00% 3 892 0,00%
8. Total applicable KPI
25 669 0,00% 8 736 0,00% 16 933 0,00%
Row
Economic activities
Amount and proportion (the information is to be presented in monetary amounts and as
percentages)
Climate change adaptation
(CCA)
CCM + CCA
Climate change mitigation (CCM)
Amount % Amount % Amount %
1.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
2.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
3.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
4.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
5.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
6.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
13 041 50,81% 0 0,00% 13 041 77,02%
7.
Amount and proportion of other taxonomy-aligned economic activities
not referred to in rows 1 to 6 above in the numerator of the applicable
KPI
12 628 49,19% 8 736 100,00% 3 892 22,98%
8.
Total amount and proportion of taxonomy-aligned economic activities in
the numerator of the applicable KPI
25 669 100,00% 8 736 100,00% 16 933 100,00%
Economic activities
Amount and proportion (the information is to be presented in monetary amounts and as
percentages)
CCM + CCA
Climate change mitigation (CCM)
Climate change adaptation
(CCA)
Row
227
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Taxonomy-eligible but not Taxonomy-aligned economic activity - in terms of turnover - disclosure
taking into account the value of mortgage loans aligned with the EU Taxonomy based on the approach
described in the note "Household financing", point 3b).
Taxonomy-aligned economic activity (denominator) - capital expenditures-based - disclosure taking
into account the value of mortgage loans aligned with the EU Taxonomy based on the approach
described in the note "Household financing", point 3b).
Amount % Amount % Amount %
1.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
2.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
3.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
4.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
5.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
563 0,00% 563 0,00% 0 0,00%
6.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
7.
Amount and proportion of other taxonomy-eligible but not taxonomy-
aligned economic activities not referred to in rows 1 to 6 above in the
denominator of the applicable KPI
34 097 779 0,04% 34 003 203 0,04% 94 576 0,00%
8.
Total amount and proportion of taxonomy eligible but not taxonomy-
aligned economic activities in the denominator of the applicable KPI
34 098 342 0,04% 34 003 766 0,04% 94 576 0,00%
Row
Economic activities
Amount and proportion (the information is to be presented in monetary amounts and as
percentages)
CCM + CCA
Climate change mitigation (CCM)
Climate change adaptation
(CCA)
Amount % Amount % Amount %
1.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
2.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
3.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
4.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
5.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
6.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
7.
Amount and proportion of other taxonomy-aligned economic activities
not referred to in rows 1 to 6 above in the denominator of the applicable
KPI
77 487 0,00% 72 847 0,00% 4 639 0,00%
8. Total applicable KPI
77 487 0,00% 72 847 0,00% 4 639 0,00%
Climate change mitigation
(CCM)
Climate change adaptation
(CCA)
CCM + CCA
Row
Amount and proportion (the information is to be presented in monetary amounts and as
percentages)
Economic activities
228
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Taxonomy-aligned economic activity (numerator) - capital expenditures-based - disclosure taking into
account the value of mortgage loans aligned with the EU Taxonomy based on the approach described
in the note "Household financing", point 3b).
Taxonomy-eligible but not Taxonomy-aligned economic activity - capital expenditures-based -
disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy based on
the approach described in the note "Household financing", point 3b).
Amount % Amount % Amount %
1.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
2.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
3.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
4.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
5.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
6.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
7.
Amount and proportion of other taxonomy-aligned economic activities
not referred to in rows 1 to 6 above in the numerator of the applicable
KPI
77 487 100,00% 72 847 100,00% 4 639 100,00%
8.
Total amount and proportion of taxonomy-aligned economic activities in
the numerator of the applicable KPI
77 487 100,00% 72 847 100,00% 4 639 100,00%
Economic activities
Amount and proportion (the information is to be presented in monetary amounts and as
percentages)
CCM + CCA
Climate change mitigation
(CCM)
Climate change adaptation
(CCA)
Row
Amount % Amount % Amount %
1.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
2.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
3.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
4.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
613 0,00% 613 0,00% 0 0,00%
5.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
844 0,00% 844 0,00% 0 0,00%
6.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
7.
Amount and proportion of other taxonomy-eligible but not taxonomy-
aligned economic activities not referred to in rows 1 to 6 above in the
denominator of the applicable KPI
34 498 400 0,04% 34 376 640 0,04% 121 760 0,00%
8.
Total amount and proportion of taxonomy eligible but not taxonomy-
aligned economic activities in the denominator of the applicable KPI
34 499 858 0,04% 34 378 097 0,04% 121 760 0,00%
Economic activities
Amount and proportion (the information is to be presented in monetary amounts and as
percentages)
CCM + CCA
Climate change mitigation
(CCM)
Climate change adaptation
(CCA)
Row
229
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
As explained in the descriptive note “Household financing”, we also present disclosures in the tables
below, which take into account the value of mortgage loans aligned with the EU Taxonomy based on the
approach described in the note "Household financing", point 3a).
Taxonomy-aligned economic activity (denominator) - turnover-based - disclosure taking into account
the value of mortgage loans aligned with the EU Taxonomy based on the approach described in the
note "Household financing", point 3a).
Taxonomy-aligned economic activity (numerator) - turnover-based - disclosure taking into account the
value of mortgage loans aligned with the EU Taxonomy based on the approach described in the note
"Household financing", point 3a).
Amount % Amount % Amount %
1.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
2.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
3.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
4.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
5.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
6.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
13 041 0,00% 0 0,00% 13 041 0,00%
7.
Amount and proportion of other taxonomy-aligned economic activities
not referred to in rows 1 to 6 above in the denominator of the applicable
KPI
5 720 706 0,01% 5 716 814 0,01% 3 892 0,00%
8. Total applicable KPI
5 733 748 0,01% 5 716 814 0,01% 16 933 0,00%
Row
Economic activities
Amount and proportion (the information is to be presented in monetary amounts and as percentages)
Climate change adaptation (CCA)
CCM + CCA
Climate change mitigation (CCM)
Amount % Amount % Amount %
1.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
2.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
3.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
4.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
5.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
6.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
13 041 0,23% 0 0,00% 13 041 77,02%
7.
Amount and proportion of other taxonomy-aligned economic activities
not referred to in rows 1 to 6 above in the numerator of the applicable
KPI
5 720 706 99,77% 5 716 814 100,00% 3 892 22,98%
8.
Total amount and proportion of taxonomy-aligned economic activities in
the numerator of the applicable KPI
5 733 748 100,00% 5 716 814 100,00% 16 933 100,00%
Row
Economic activities
Amount and proportion (the information is to be presented in monetary amounts and as percentages)
CCM + CCA
Climate change mitigation (CCM)
Climate change adaptation (CCA)
230
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Taxonomy-eligible but not Taxonomy-aligned economic activity - in terms of turnover - disclosure
taking into account the value of mortgage loans aligned with the EU Taxonomy based on the approach
described in the note "Household financing", point 3a).
Taxonomy-aligned economic activity (denominator) - capital expenditures-based - disclosure taking
into account the value of mortgage loans aligned with the EU Taxonomy based on the approach
described in the note "Household financing", point 3a).
Amount % Amount % Amount %
1.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
2.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
3.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
4.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
5.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
563 0,00% 563 0,00% 0 0,00%
6.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
7.
Amount and proportion of other taxonomy-eligible but not taxonomy-
aligned economic activities not referred to in rows 1 to 6 above in the
denominator of the applicable KPI
28 389 701 0,03% 28 295 125 0,03% 94 576 0,00%
8.
Total amount and proportion of taxonomy eligible but not taxonomy-
aligned economic activities in the denominator of the applicable KPI
28 390 263 0,03% 28 295 687 0,03% 94 576 0,00%
Amount and proportion (the information is to be presented in monetary amounts and as percentages)
CCM + CCA
Climate change mitigation (CCM)
Climate change adaptation (CCA)
Row
Economic activities
Amount % Amount % Amount %
1.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
2.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
3.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
4.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
5.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
6.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the
denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
7.
Amount and proportion of other taxonomy-aligned economic activities
not referred to in rows 1 to 6 above in the denominator of the applicable
KPI
5 785 565 0,01% 5 780 925 0,01% 4 639 0,00%
8. Total applicable KPI
5 785 565 0,01% 5 780 925 0,01% 4 639 0,00%
Row
Amount and proportion (the information is to be presented in monetary amounts and as percentages)
Economic activities
Climate change mitigation (CCM)
Climate change adaptation (CCA)
CCM + CCA
231
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Taxonomy-aligned economic activity (numerator) - capital expenditures-based- - disclosure taking into
account the value of mortgage loans aligned with the EU Taxonomy based on the approach described
in the note "Household financing", point 3a).
Taxonomy-eligible but not Taxonomy-aligned economic activity - capital expenditures-based -
disclosure taking into account the value of mortgage loans aligned with the EU Taxonomy based on
the approach described in the note "Household financing", point 3a).
Amount % Amount % Amount %
1.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
2.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
3.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
4.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
5.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
6.
Amount and proportion of taxonomy-aligned economic activity referred to in
Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the
numerator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
7.
Amount and proportion of other taxonomy-aligned economic activities
not referred to in rows 1 to 6 above in the numerator of the applicable
KPI
5 785 565 100,00% 5 780 925 100,00% 4 639 100,00%
8.
Total amount and proportion of taxonomy-aligned economic activities in
the numerator of the applicable KPI
5 785 565 100,00% 5 780 925 100,00% 4 639 100,00%
Row
Economic activities
Amount and proportion (the information is to be presented in monetary amounts and as percentages)
CCM + CCA
Climate change mitigation (CCM)
Climate change adaptation (CCA)
Amount % Amount % Amount %
1.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
2.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
3.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
4.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
613 0,00% 613 0,00% 0 0,00%
5.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
844 0,00% 844 0,00% 0 0,00%
6.
Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic
activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation
2021/2139 in the denominator of the applicable KPI
0 0,00% 0 0,00% 0 0,00%
7.
Amount and proportion of other taxonomy-eligible but not taxonomy-
aligned economic activities not referred to in rows 1 to 6 above in the
denominator of the applicable KPI
28 790 322 0,03% 28 668 562 0,03% 121 760 0,00%
8.
Total amount and proportion of taxonomy eligible but not taxonomy-
aligned economic activities in the denominator of the applicable KPI
28 791 779 0,03% 28 670 019 0,03% 121 760 0,00%
Climate change adaptation (CCA)
Row
CCM + CCA
Climate change mitigation (CCM)
Economic activities
Amount and proportion (the information is to be presented in monetary amounts and as percentages)
6.1. APPROACH TO REPORTING
About this report
[GRI 2-3] The ESG Report of Bank Millennium and the Bank Millennium Group depicts the operations of
the Bank Millennium Group in the period from 1 January 2023 to 31 December 2023 unless stated
otherwise. The Report was published on 28 February 2023. This report has been drafted in accordance
with the GRI Standards (the sectoral supplement to financial services was also applied) and in
accordance with the non-financial reporting requirements imposed by the amended Accounting Act.
The report constitutes the report on non-financial information referred to in Article 49b of the Act.
It contains a recap of the Bank Millennium Group’s activity in the sustainable development context,
i.e. in the economic, social and environmental areas.[GRI 2-3] The Bank Millennium Group publishes
reports at annual intervals. The most recent report prepared for 2022 was published in February 2023.
The Bank published its first corporate social responsibility report for 2006. [GRI 2-2] The report
describes the activities of the Bank Millennium and all companies of the Bank Millennium Group
(presented in the graphic as part of the GRI 2-1 indicator on page 8 of this report), excluding companies
in liquidation. The report also includes changes in the structure of the Bank Millennium Group, related
to the sale of 80% of shares of Millennium Financial Services sp z o.o., described in chapter 1.1.
"Organization Profile". This change did not affect the data consolidation methodology used. With
regard to significant issues, the approach applicable to all subsidiaries covered by reporting is
presented. The scope of entities covered by this report does not differ from the scope of entities
covered by financial reporting. This report does not contain any corrections to information regarding
minority interests. [GRI 2-6] The change in the Bank Millennium Group’s structure involving the sale of
80% of shares of Millennium Financial Services sp z o.o. is described in section 1.1. “Profile of the
Organization”.
6. ABOUT
THE REPORT
233
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
[GRI 2-4] Compared to the last publication for 2021, there were no changes in the scope and coefficient
of the report.
[GRI 2-14] The process of preparation of this report (preparation and/or verification and approval of
content) involved both the heads of the respective organizational units of the Bank and the Group
and members of the management boards of both the Bank and the Group companies. This process was
pursued during meetings devoted to discussing the content of the report and via e-mail.
Furthermore, the said individuals participated in the process of selecting significant reporting topics
by participating in the stakeholder opinion survey, as described in detail in section 1.8. “Defining the
content of the report – dialogue with stakeholders”, and through working arrangements made as part
of the work of the Sustainability Committee.
[GRI 2-5] The ESG Report of the Bank Millennium Group has been audited in the form of an independent
assurance service in respect of selected profile indicators and selected material performance
indicators, marked "YES" in the GRI table. The assurance service was provided by Deloitte Audyt Sp.
z o.o. sp.k., which also serves as a statutory auditor in respect of the financial statements of the Bank
and the Bank Millennium Group. The auditor selection process was conducted in compliance with the
“Audit firm selection and cooperation policy” and was coordinated by the Sustainable Development
Department in cooperation with the Compliance Department, while the selection of the auditor was
made by the Bank’s Management Board and then approved by the Audit Committee of the Bank
Millennium Supervisory Board.
An audit in the form of an independent assurance engagement provides limited assurance in
accordance with the International Standard on Assurance Engagements 3000 (“Revised ISAE 3000”),
applicable to assurance engagements other than audits or reviews of historical financial information,
as published by the International Auditing and Assurance Standards Board (“IAASB”). Such services do
not constitute financial audit activities within the meaning of the Act of 11 May 2017 on Statutory
Auditors, Audit Firms and Public Supervision. Deloitte Audyt Sp. z o.o. sp. k. is a party unrelated to
Bank Millennium S.A.
The report on the provision of an independent assurance service is available on the website of Bank
Millennium S.A.
234
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
6.2. ACCOUNTING ACT COMPLIANCE TABLE
Mandatory items from the Accounting Act
Group (page)
Bank (page)
Description of the business model
13
13
Description of the policy on combating corruption.
Significant risks adversely affecting the issue of combating
corruption.
20-25,197-198
20-25,197-198
Description of the policy on human rights. Significant risks
adversely affecting the issue of human rights.
20-25,180-182
20-25,180-182
Description of the policy on social issues. Significant risks
adversely affecting social issues.
20-25,162
20-25,162
Description of the policy on employee issues. Significant
risks adversely affecting employee issues.
134-139
134-139
Description of the policy on environmental issues.
Significant risks adversely affecting environmental issues
25-37,49-50
25-37,49-50
235
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
6.3. GRI STANDARDS CONTENT INDEX
Statement of use: Bank Millennium Group has reported in accordance with the GRI Standards for the period
from 1 January 2023 to 31 December 2023.
GRI 1 used: GRI 1: Foundation 2021
GRI STANDARD/
OTHER SOURCE
NO. OF
INDICA-
TOR
THE NAME OF INDICATOR
LOCATION
OMISSION
INDEPEN-
DENT
ASSURANCE
REQUIREMEN
T(S)
OMITTED
REASON
EXPLANATION
GENERAL DISCLOSURES
GRI 2:
General
Disclosures
2021
The organization and its reporting practices
2-1
Organizational details
7, 8
2-2
Entities included in the
organization’s sustainability
reporting
232
YES
2-3
Reporting period, frequency and
contact point
232, 244
2-4
Restatements of information
233
2-5
External assurance
233
Activities and workers
2-6
Activities, value chain and other
business relationships
7, 8, 9, 232
2-7
Employees
129
YES
2-8
Workers who are not employees
133
Governance
2-9
Governance structure and
composition
171, 172,
173, 174
2-10
Nomination and selection of the
highest governance body
155
2-11
Chair of the highest governance
body
173, 174
2-12
Role of the highest governance body
in overseeing the management of
impacts
20, 177
YES
2-13
Delegation of responsibility for
managing impacts
177
2-14
Role of the highest governance body
in sustainability reporting
233
YES
2-15
Conflicts of interest
196
2-16
Communication of critical concerns
195
236
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
2-17
Collective knowledge of the highest
governance body
177
2-18
Evaluation of the performance of
the highest governance body
155
2-19
Remuneration policies
137
2-20
Process to determine remuneration
136, 138
2-21
Annual total compensation ratio
138
Strategy, policies and practices
2-22
Statement on sustainable
development strategy
5
2-23
Policy commitments
21, 25
YES
2-24
Embedding policy commitments
24, 93
2-25
Processes to remediate negative
impacts
178
2-26
Mechanisms for seeking advice and
raising concerns
195, 198
YES
2-27
Compliance with laws and
regulations
93, 121,
122, 123,
124, 199
2-28
Membership associations
23, 95, 184
YES
Stakeholder engagement
2-29
Approach to stakeholder
engagement
42, 46,
112, 159
YES
2-30
Collective bargaining agreements
143
YES
MATERIAL TOPICS
GRI 3:
Material
Topics 2021
3-1
Process to determine material
topics
42
3-2
List of material topics
42, 46
3-3
Management of material topics
46
YES
Employment
GRI 3:
Material
Topics 2021
3-3
Management of material topics
134, 153,
154, 157
YES
GRI 401:
Employment
2016
401-
1
New employee hires and employee
turnover
130
YES
401-
2
Benefits provided to full-time
employees that are not provided to
temporary or part-time employees
153, 157
YES
401-
3
Parental leave
154
237
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Occupational Health and Safety
GRI 3:
Material
Topics 2021
3-3
Management of material topics
157
YES
GRI 403:
Occupationa
l Health and
Safety 2018
403-
1
Occupational health and safety
management system
157
403-
2
Hazard identification, risk
assessment, and incident
investigation
157
403-
3
Occupational health services
158
403-
4
Worker participation, consultation,
and communication on occupational
health and safety
158
403-
5
Worker training on occupational
health and safety
158
403-
6
Promotion of worker health
157, 157
403-
7
Prevention and mitigation of
occupational health and safety
impact directly linked by business
relationships
158
403-
9
Work-related injuries
158
Training and Education
GRI 3:
Material
Topics 2021
3-3
Management of material topics
147
YES
GRI 404:
Training and
Education
2016
404-
1
Average hours of training per year
per employee
152
404-
2
Programs for upgrading employee
skills and transition assistance
programs
150, 152
404-
3
Percentage of employees receiving
regular performance and career
development reviews
144
YES
Marketing and Labeling, ethical sales
GRI 3:
Material
Topics 2021
3-3
Management of material topics
120, 121,
124, 180
YES
238
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
GRI 417:
Marketing
and Labeling
2016
417-
1
Requirements for product and
service information and labeling
120, 122
417-
3
Incidents of non-compliance
concerning marketing
communications
121
Customer Privacy
GRI 3:
Material
Topics 2021
3-3
Management of material topics
190
YES
GRI 418:
Customer
Privacy
2016
418-
1
Substantiated complaints
concerning breaches of customer
privacy and losses of customer data
192
YES
The availability of bank products and services, especially for those digitally excluded, as well as people with physical
disabilities and seniors
GRI 3:
Material
Topics 2021
3-3
Management of material topics
103, 104
YES
Own
disclosure
Own
discl
o-
sure
1
% of branches made accessible for
people with physical disabilities
107
Own
discl
o-
sure
2
% of franchises made accessible for
people with physical disabilities
107
Own
discl
o-
sure
3
% of ATM’s made accessible for
people with physical disabilities
107
Innovation and development through the bank of new/cutting-edge technologies
GRI 3:
Material
Topics 2021
3-3
Management of material topics
98
YES
Own
disclosure
Own
discl
o-
sure
4
Action taken in the area of
innovative services
98
Solutions in the area of security of funds entrusted to the bank
GRI 3:
Material
Topics 2021
3-3
Management of material topics
188
YES
239
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Own
disclosure
Own
discl
o-
sure
5
Safety and security actions
188
Own
discl
o-
sure
6
Safety trainings
189
Market Presence
GRI 3:
Material
Topics 2021
3-3
Management of material topics
143
YES
GRI 202:
Market
Presence
2016
202-
1
Ratios of standard entry level wage
by gender compared to local
minimum wage
143
YES
Supplier Environmental Assessment
GRI 3:
Material
Topics 2021
3-3
Management of material topics
185
YES
GRI 308:
Supplier
Environmen
tal
Assessment
2016
308-
1
New suppliers that were screened
using environmental criteria
185
The role of ESG factors in business strategy
GRI 3:
Material
Topics 2021
3-3
Management of material topics
19
YES
Own
disclosures
Own
discl
osure
10
ESG factors in business strategy
19
Anti-corruption
GRI 3:
Material
Topics 2021
3-3
Management of material topics
197, 198
YES
GRI 205:
Anti-
corruption
2016
205-
1
Operations assessed for risks related
to corruption
198
205-
2
Communication and training about
anti-corruption policies and
procedures
198
YES
205-
3
Confirmed incidents of corruption
and actions taken
198
YES
OTHER DISCLOSURES, NOT ASSIGNED TO MATERIAL TOPICS
Economic performance
GRI 201:
Economic
201-
1
Direct economic value generated
and distributed
11
240
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
performanc
e 2016
Indirect Economic Impacts
GRI 203
Indirect
Economic
Impacts
2016
203-
1
Infrastructure investments and
services supported
162, 165
Procurement Practices
GRI 204:
Procuremen
t Practices
2016
204-
1
Proportion of spending on local
suppliers
185
Anti-competitive Behavior
GRI 206:
Anti-
competitive
Behavior
2016
206-
1
Legal actions for anti-competitive
behavior, anti-trust, and monopoly
practices
199
YES
Tax
GRI 207: Tax
2019
207-
1
Approach to tax
187
207-
2
Tax governance, control, and risk
management
187
207-
3
Stakeholder engagement and
management of concerns related to
tax
187
Materials
GRI 301:
Materials
2016
301-
1
Materials used by weight or volume
53, 54, 55
YES
Energy
GRI 302:
Energy 2016
302-
1
Energy consumption within the
organization
61-64
YES
302-
4
Reduction of energy consumption
76
Water and Effluents
GRI 303:
Water and
Effluents
2018
303-
5
Water consumption
65
Biodiversity
241
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
GRI 304:
Biodiversity
2016
304-
1
Operational sites owned, leased,
managed in, or adjacent to,
protected areas and areas of high
biodiversity value outside protected
areas
51
Emissions
GRI 305:
Emissions
2016
305-
1
Direct (Scope 1) GHG emissions
78-79, 81-
82
YES
305-
2
Energy indirect (Scope 2) GHG
emissions
78-79, 81-
82
305-
3
Other indirect (Scope 3) GHG
emissions
78-79, 81-
82
YES
305-
4
GHG emissions intensity
78-79, 81-
82
305-
5
Reduction of GHG emissions
84
Waste
GRI 306:
Waste 2020
306-
1
Waste generation and significant
waste-related impacts
51
306-
2
Management of significant waste-
related impacts
51
306-
3
Waste generated
56
YES
306-
4
Waste diverted from disposal
57-58
Labor/Management Relations
GRI 402:
Labor/Mana
gement
Relations
2016
402-
1
Minimum notice periods regarding
operational changes
143
Diversity and Equal Opportunity
GRI 405:
Diversity
and Equal
Opportunity
2016
405-
1
Diversity of governance bodies and
employees
131, 132,
133, 140,
172, 173,
174
YES
405-
2
Ratio of basic salary and
remuneration of women to men
142
YES
Non-discrimination
GRI 406:
Non-
discriminati
on 2016
406-
1
Incidents of discrimination and
corrective actions taken
141
YES
Initiatives towards environmental education taken by the bank
242
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
Own
disclosure
Own
discl
o-
sure
7
Initiatives towards environmental
education and awareness
93
Social programmes by the Bank Millennium Group and the Bank Millennium Foundation
Own
disclosure
Own
discl
o-
sure
8
Volunteer initiatives
164
The banks sponsorship and charity initiatives
Own
disclosure
Own
discl
o-
sure
9
Monetary donations and sponsorship
162
Local Communities
GRI 413:
Local
Communitie
s 2016
413-
1
Operations with local community
engagement, impact assessments,
and development programs
162
YES
Supplier Social Assessment
GRI 414:
Supplier
Social
Assessment
2016
414-
1
New suppliers that were screened
using social criteria
185
Specific standard disclosures for the sector
Product
portfolio
FS5
Interactions with clients/ investees/
business partners regarding
environmental and social risks and
opportunities
185, 186,
187
Local
communitie
s
FS13
Access points in low-populated or
economically disadvantaged areas
by type
107
YES
Local
communitie
s
FS14
Initiatives to improve access to
financial services for disadvantaged
people
104, 107
YES
Product and
service
labelling
FS15
Policies for the fair design and sale
of financial products and services
124
YES
Product and
service
labelling
FS16
Initiatives to enhance financial
literacy by type of beneficiary
116, 163
243
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
6.4. CONTACT DATA
[GRI 2-3] Thank you for reviewing the ESG Report of Bank Millennium and the Bank Millennium Group
for 2023. Please send your comments and questions about it to:
Magdalena Trzynadlowska, magdalena.trzynadlowska@bankmillennium.pl
244
ESG Report of Bank Millennium
and the Bank Millennium Group for 2023
SIGNED BY:
Date
First and last name
Position/Function
Signature
28.02.2024
Joao Bras Jorge
Chairman of the
Management Board
Signed with a qualified
electronic signature
28.02.2024
Fernando Bicho
Vice-Chairman of the
Management Board
Signed with a qualified
electronic signature
28.02.2024
Wojciech Haase
Management Board
Member
Signed with a qualified
electronic signature
28.02.2024
Andrzej Gliński
Management Board
Member
Signed with a qualified
electronic signature
28.02.2024
Wojciech Rybak
Management Board
Member
Signed with a qualified
electronic signature
28.02.2024
António Ferreira Pinto Júnior
Management Board
Member
Signed with a qualified
electronic signature
28.02.2024
Jarosław Hermann
Management Board
Member
Signed with a qualified
electronic signature