Annual Report 2023

Bank in 2023

Changes in the regulatory environment for sustainable finance

GRI[ ]
GRI[
  • 3-3
]

Bank Pekao systematically monitors and analyzes new regulations in the ESG area.

  • Commission Implementing Regulation (EU) 2022/2453 of November 30, 2022, amending the implementing technical standards set forth in Implementing Regulation (EU) 2021/637 with regard to the disclosure of information on environmental, social and corporate governance risks in accordance with Article 449a of Regulation (EU) No. 575/2013 of June 26, 2013 on prudential requirements for credit institutions and investment firms, amending Regulation (EU) No. 648/2012,
  • Regulation EU 2020/852 of the European Parliament and of the Council of June 18, 2020 on the establishment of a framework to facilitate sustainable investment, amending Regulation (EU) 2019/2088 together with delegated regulations.

In response to the rapidly changing regulatory and business environment, in October 2022 the Bank launched a comprehensive project to fill regulatory gaps related to the ESG area (hereinafter: “ESG Project”), which it continued through 2023.

The work on the ESG Project was carried out as part of 10 streams involving about 40 units from each division.

  • developing a target process-system architecture for methods of collecting data directly from the customer, analyzing the data and further using them in processes and reporting, based on the EP and Council Regulation (EU) 2020/852 on the so-called taxonomy and the CRR Regulations,
  • implementing a comprehensive risk management system in accordance with EBA/REP/2021/18,
  • calculating the carbon footprint in Scope 3 according to the Greenhouse Gas Protocol for the financing portfolio (subcategory 15),
  • creating a data repository for ESG risks, including climate risks,
  • creating an ESG advisory model for the Bank’s customers.

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