Meeting ESG regulatory requirements

We are following and analysing new ESG regulations, including the Taxonomy Regulation, the new CSRD, and the EBA’s guidelines for ESG risk management in credit institutions. The bank has an effective system of internal control, risk management and compliance supervision, as well as an effective internal audit function, appropriate to the size of the bank and the type and scale of its operations. Their effectiveness is monitored and evaluated by the Supervisory Board with the participation of the Audit and Compliance Committee. Our internal control system* helps us ensure that we operate in compliance with laws, internal regulations and market standards. The solutions we have implemented allow us to improve the process of collecting ESG data and preparing reports. At present, there are limitations on the availability of certain counterparty data regarding, for example, compliance of their operations with taxonomy or exposure to environmental risks.

* to find out more about our internal control system, go to: https://www.santander.pl/relacje-inwestorskie/dokumenty-korporacyjne#dokument=7

A project is underway at the bank to collect environmental risk data to the fullest extent possible. An analytical database dedicated to the collection of ESG-related data is currently being built, which will serve as a unified source of data at the bank for all business lines and risks. These two solutions, combined with the acquisition of external and counterparty data, will serve to build the most accurate ESG data repository to the extent possible.