EU Taxonomy in the Group’s business strategy, product design processes and engagement with clients and counterparties

Due to the limitations mentioned above, specifically the marginal percentage of customers subject to NFRD (and CSRD, starting from the current reporting period), the Group does not design products dedicated to financing Taxonomy-aligned activities.

One of the priorities of the Total Responsibility area of the Group’s business strategy is to support customers in their sustainable transition.

The direction of this transition is linked with climate goals of the EU Taxonomy, namely: adaptation to and mitigation of climate changes. To support the customers, the Group engages in a dialogue to analyse their investments and determine if they are Taxonomy-aligned (or can be in a longer-time perspective). It is particularly important in the case of such customers as managers of older commercial properties who look to improve energy efficiency of the buildings.

An important step towards transformation of the energy system in Poland is to support projects related to renewable energy sources and other low-carbon solutions delivered by customers which currently generate energy mainly from conventional sources. Santander Bank Polska S.A. actively contributes to that process.

The value of lending granted by the Bank for environmentally sustainable purposes has been steadily rising. Such purposes include renewable energy sources, improvement of energy efficiency of buildings and electromobility. The Bank also intends to increase its lending for sustainable agriculture technologies and new energy technologies such as energy storage facilities or other strategic solutions for the energy sector.

For more information, please see the section “Actions and resources in relation to climate change policies (E1-3)”.