New ESG report from Santander Bank Polska: For the first time with analysis of climate risks and opportunities

  • Santander ESG Service
  • New ESG report from Santander Bank Polska: For the first time with analysis of climate risks and opportunities
Goal 3 - Good health and well-being
Goal 4 - Quality eduaction
Goal 5 - Gender equality
Goal 8 - Decent work and economic growth
Goal 9 - Industry, innovation and infractructure
Goal 11 - Sustainable cities and communities
Goal 13 - Climate action
Goal 17 - Partnerships for the goals

The ESG 2021 Report published by Santander Bank Polska is the ninth issue of the publication which presents the organisation’s impact in the field of governance, social and environmental areas. This year’s novelty is the climate report, developed according to TCFD criteria, as an integral part of the environmental section. The analysis of climate risks and opportunities contained therein is another step in the bank’s conscious preparation for the challenges of the near future.

Looking to the future

Climate change has consequences both for the planet and the environment, as well as for the economy and the financial system. A key challenge for the coming years will be the implementation of the European Green Deal. Achieving climate neutrality in Europe by 2050 requires the development of new products and enhanced customer education.

Banks can make an important contribution to making these changes a reality. However, this requires conscious management, which must cover an entirely new area, including climate risk in particular. Santander Bank Polska treats this subject with great care, which is why a major part of this year’s disclosures is the TCFD Report. It presents, among other things, the distribution of climate responsibility between the bank’s corporate structure, the assumptions of the climate change strategy, as well as an analysis of the risks and opportunities that come with these changes.

Minimising climate change is very important goal for us. Comprehensive analysis of both opportunities and risks, in the TCFD model, under different scenarios and time perspectives, gives us a better understanding of the impact of climate change on our operations and those of our clients. It helps us align the way we manage climate risks with current policies and regulations and take the most appropriate and most effective action.

Michał Gajewski

CEO of Santander Bank Polska

The TCFD report, provides a detailed analysis of climate risks and opportunities under two scenarios – the first assumes the Paris Agreement targets are met and temperatures rise by no more than 2°C; the second one assumes a 4°C rise. The analysis, , considers two main types of risks, physical and transformational, in the 19 sectors of the bank’s portfolio and in three perspectives: short-term (2025), medium-term (2030) and long-term (2050).

Climate opportunities were analysed in a similar way. Such a comprehensive approach makes it possible to understand how different the impact of climate change can be on the bank’s business and its customers.

Santander reporting according to international standards

For the past nine years, Santander Bank Polska has comprehensively reported on its performance in the context of ESG indicators, i.e. environmental (Environmental), social (Social) and governance (Governance). This is done through an annual report prepared for clients, investors and other stakeholders, in accordance with the GRI Foundation 2021 (Global Reporting Initiative) guidelines and based on an ongoing dialogue with stakeholders. Given the growing importance of climate issues, the latest edition includes a climate analysis according to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Transparent information on ESG indicators is crucial for the credibility of institutions, including banks – not only from the perspective of investors, but also of the European Union and other regulators. Non-financial ratings and assessments of companies, as well as other organisations and entire countries, are based on this type of data.

Santander Bank Polska’s annual Non-Financial Report takes into account, in addition to the GRI guidelines, the UNEP FI Principles for Responsible Banking, the European Commission’s recommendations on non-financial information and climate impact and the Guidelines for ESG Reporting for Companies Listed on the WSE. The publication also refers to the global UN Sustainable Development Goals. The report, including the Climate Supplement (TCFD), has been assessed by an independent auditor.

The website of the report and the ESG service is published in two language versions – Polish and English, and is also available in a mobile version Furthermore, it has been adapted to the needs of the blind and visually impaired, complies with the international standard on accessibility for people with individual needs (WCAG 2.1 at AA level) and is certified by the Widzialni.org Foundation. The website also includes a downloadable PDF version of the report, in both language versions.

The report is available at https://esg.santander.pl/2021/en/