Bank Millennium S A has presented its Transition Plan – a pathway to climate neutrality

The Bank Millennium Group has adopted a Transition Plan that integrates the Group's existing and planned activities in the area of climate transition. The document sets out the direction of actions aimed at delivering the Group's strategic ambition of achieving net zero greenhouse gas emissions by 2050. The Plan was developed on the basis of guidelines issued by the European Banking Authority (EBA).

- As a financial institution, we fully understand the key role banks play in financing the green transition of the economy, and we deliver on this role as part of our business strategy, of which ESG is an integral element. We believe that actions stemming from this role generate mutual benefits. For our customers we are a partner who understands their challenges and needs, and is able to tailor financial support accordingly. For us, in turn, financing the transition represents a significant opportunity for further business growth. Our approach to sustainability is built on solid foundations, an important element of which is a mature and comprehensive ESG risk management system - said Joao Bras Jorge, Chairman of the Management Board of Bank Millennium.

The Bank Millennium Group's Transition Plan covers commitments relating to both own emissions and financed emissions, as well as an engagement strategy based on dialogue with customers.

The Plan identifies priority segments, such as residential real estate, transport, commercial real estate and the power generation sector, for which sets of planned actions have been developed as a first step, and, where justified, quantitative commitments were defined. The same approach has also been applied to the area of the Group's own operations.

An important element of the Plan is the engagement strategy, i.e. cooperation with customers through which the Group will consistently build their awareness and understanding of the challenges and opportunities related to the transition.

The Transition Plan is integrated with the business strategy and the risk management approach of the Bank Millennium Group. The Group consistently develops its financial offering supporting customers' transition towards more sustainable business models. A key element is also the development of ESG risk management, including methods for assessing and quantifying ESG risks, as well as ESG monitoring, control and reporting processes. The Group is intensively working on improving the quality of ESG data and developing tools for their collection, as well as expanding the financial offering supporting customers' transition towards more sustainable business models.

Implementation of the Transition Plan will be regularly monitored, and the document itself will be appropriately updated, enabling adaptation to a dynamically changing regulatory, economic and geopolitical environment, as well as to the results of risk analyses and climate stress tests.

The Transition Plan was developed on the basis of guidelines issued by the European Banking Authority (EBA). It forms part of the implementation of the Bank Millennium Group's business strategy, "Strategy 2028 - Value and Growth", in which ESG is an integral element of long-term development.

The Bank Millennium Group's Transition Plan is available here: https://www.bankmillennium.pl/documents/d/guest/plan_transformacji_grupy_banku_millennium_prezentacja