Santander Bank Polska publishes ESG report, now scrutinizing climate-related dangers and possibilities for the first time.
In a significant move towards sustainable finance, Santander Bank Polska has released its 2021 TCFD Report and ESG Report. These publications offer a detailed analysis of the bank's impact in the areas of governance, social, and environmental responsibility.
The TCFD Report, in particular, provides an in-depth analysis of the risks and opportunities associated with climate change. This report considers climate risks and opportunities under two scenarios: a 2°C rise and a 4°C rise, across 19 economic sectors. The report aims to help align the management of climate risks with current policies and regulations.
The report evaluates physical and transition risks under the two scenarios, identifying sectors with high climate risk exposure, such as energy, heavy industry, agriculture, and transport. It also assesses short-term (2025), medium-term (2030), and long-term (2050) impacts to align with investment and portfolio management horizons.
The TCFD Report includes an analysis of risks like extreme weather events, flooding, drought, and their effects on asset values and credit exposures. It also considers risks related to policy changes, carbon pricing, technological shifts, and market changes prompting sectoral shifts.
On the positive side, the report identifies potential growth in climate-resilient sectors, green finance products, and transition financing. It also conducts a quantitative/qualitative analysis of credit risk shifts, potential asset stranding, and sectoral exposure adjustments.
Furthermore, the report outlines the bank’s approach to integrating climate risks into risk management and financing decisions. This approach is a testament to Santander Bank Polska's commitment to treating climate risk with great care.
The ESG 2021 Report, the ninth issue of its kind, includes a climate report, developed according to TCFD criteria, as part of the environmental section. This comprehensive analysis aids in understanding the impact of climate change on the bank's operations and those of its clients.
Michał Gajewski, CEO of Santander Bank Polska, emphasizes the importance of minimizing climate change. He states, "Climate change has consequences for both the planet, environment, economy, and financial system." Achieving climate neutrality in Europe by 2050, as per the European Green Deal, requires not only the development of new products but also enhanced customer education.
The European Green Deal is a key challenge for the coming years, and Santander Bank Polska is committed to playing its part in this transition. For more detailed insights, readers are encouraged to consult the official Santander Bank Polska sustainability or investor relations website, where such reports are typically published.
- Santander Bank Polska's 2021 TCFD Report, in line with the European Green Deal, offers an in-depth analysis of the risks and opportunities associated with climate change in various sectors like energy, heavy industry, agriculture, and transport.
- The ESG 2021 Report, inclusive of a climate report developed according to TCFD criteria, finds that climate change impacts not only the environment but also the economy and financial system, reaffirming Santander Bank Polska's commitment to treating climate risk with great care.
