Sustainable financing (SFDR)
In 2023, PKO TFI offered two „green” sub-funds separated within PKO Parasolowy – fio: “PKO Global Ecology and Social Responsibility” and “PKO Global Bond”. Both sub-funds are categorised as light green plus products, i.e. fulfilling the requirements of Article 8 of the SFDR and having balanced investments in addition (within the meaning of Article 2(17) of the SFDR). At the same time, PKO TFI launched a website dedicated to „green investments” (Zielone inwestycje (ESG) (pkotfi.pl)). Article 10 SFDR disclosures for the sub-funds „PKO Global Ecology and Social Responsibility” and „PKO Global Bond” are available on the aforementioned website.
Sustainable financing (MIFID)
In 2023, PKO TFI, together with a working group established at the Chamber of Fund and Asset Managers, took steps to develop a solution that would meet the requirements of the Regulation of the Minister of Finance of 29 June 2023 amending the Regulation on the manner, procedure and conditions for the conduct of activities by investment fund companies, which became effective on 24 January 2024.
PKO TFI has analysed and revised its customer survey process, where the questions on investment objectives defined by the customer include the option to make investments taking into account sustainable development goals (ESG). Thus, if a customer is interested only in investing in such solutions, only sub-funds that meet the SFDR requirements will be presented in the survey result, whereas all other sub-funds that do not meet these requirements will be outside the customer’s target group (changes implemented on 12 January 2024).
In addition, the changes have extended to the transactional platform www.i-fundusze.pl, where information on a subfund’s compliance with SFDR requirements is presented on screen in the form of an infotip next to the sub-fund in question, taking into account the categories resulting from the survey responses.
In 2023, the Bank aligned the content of the Bank’s MIFID Product Management Rules with the changes to IT systems introduced in November 2022 to incorporate customer sustainability objectives and sustainability factors (ESG) into the product management process. The Bank has expanded the criteria for defining a negative target group.
Taxonomy
Taxonomy of the European Union
The taxonomy disclosure of the PKO Bank Polski S.A. Group has been prepared on the basis of a package of regulations that have been implemented into European law by Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (hereinafter: EU Taxonomy) together with the following delegated regulations:
- Commission Delegated Regulation (EU) 2021/2139 of 4 June 2021 supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to climate change mitigation or climate change adaptation and for determining whether that economic activity causes no significant harm to any of the other environmental objectives (hereinafter: Delegated regulation on climate);
- Commission Delegated Regulation (EU) 2021/2178 of 6 July 2021 supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by specifying the content and presentation of information to be disclosed by undertakings subject to Articles 19a or 29a of Directive 2013/34/EU concerning environmentally sustainable economic activities, and specifying the methodology to comply with that disclosure obligation (hereinafter: Delegated Regulation to Article 8 of the Taxonomy);
- Commission Delegated Regulation (EU) 2022/1214 of 9 March 2022 amending Delegated Regulation (EU) 2021/2139 as regards economic activities in certain energy sectors and Delegated Regulation (EU) 2021/2178 as regards specific public disclosures for those economic activities (hereinafter: Delegated regulation on nuclear and gas);
- Commission Delegated Regulation (EU) 2023/2485 of 27 June 2023 amending Delegated Regulation (EU) 2021/2139 establishing additional technical screening criteria for determining the conditions under which certain economic activities qualify as contributing substantially to climate change mitigation or climate change adaptation and for determining whether those activities cause no significant harm to any of the other environmental objectives (hereinafter: Delegated Regulation on technical screening criteria for new activities for Environmental Objective 1 and 2);
- Commission Delegated Regulation (EU) 2023/2486 of 27 June 2023 supplementing Regulation (EU) 2020/852 of the European Parliament and of the Council by establishing the technical screening criteria for determining the conditions under which an economic activity qualifies as contributing substantially to the sustainable use and protection of water and marine resources, to the transition to a circular economy, to pollution prevention and control, or to the protection and restoration of biodiversity and ecosystems and for determining whether that economic activity causes no significant harm to any of the other environmental objectives and amending Commission Delegated Regulation (EU) 2021/2178 as regards specific public disclosures for those economic activities (hereinafter: Delegated Regulation on an EU environmental sustainability taxonomy).
The taxonomy is a classification system for sustainable development activities, which aims to increase transparency and comparability of the market in this area and to support investors in their investment decisions. It establishes a framework for EU taxonomy by defining four conditions that an economic activity must meet in order to be classified as environmentally sustainable
The Taxonomy includes 6 main environmental objectives: climate change mitigation, climate change adaptation, sustainable use and protection of water and marine resources, transition to a circular economy, pollution prevention and control, protection and restoration of biodiversity and ecosystems.
According to Article 3 of the EU Taxonomy, an environmentally sustainable activity (taxonomy-compliant) is one that simultaneously:
- contributes substantially to one or more of the six environmental objectives;
- does not do significant harm to any of the other objectives („do no significant harm” principle, DNSH);
- is carried out in compliance with the minimum safeguards;
- meets the technical screening criteria (as defined in the Delegated Regulation on climate, the Delegated Regulation on nuclear and gas, the Delegated Regulation on technical screening criteria for new activities for the first and second environmental objectives, the Delegated Regulation on EU environmental sustainability taxonomy).
The technical screening criteria setting out the requirements for each economic activity indicate the conditions under which that activity makes a significant contribution to the environmental objective in question and does not cause serious harm to other environmental objectives.
The Bank Group’s disclosure for 2023 provides a full taxonomic analysis of the Bank Group’s individual transactions in terms of both eligibility for the taxonomy and alignment with the taxonomy in relation to the first two environmental objectives: climate change mitigation (CCM) and climate change adaptation (CCA). Its results are presented in the tables in the section: Key Performance Indicators.
Information on economic activities identified as making a significant contribution to the other four environmental objectives and new activities in the area of the first two environmental objectives was only assessed for eligibility with the taxonomy based on the dominant NACE codes of non-financial enterprises subject to the NFRD and is presented together in the section: Additional disclosures.
Information on the Bank Group’s exposure to nuclear and natural gas business financing is presented in the section: Disclosure of business activities in certain energy sectors.
Key performance indicators
In accordance with Article 8 of the EU Taxonomy, PKO Bank Polski Group S.A., as a public interest entity preparing non-financial statements in accordance with Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and by groups (hereinafter: the NFRD), is required to disclose information for 2023 indicating what proportion of the portfolio is used to finance taxonomy-aligned activities. The primary performance indicator for credit institutions is the Green Asset Ratio (GAR), which refers to the core lending and investment activities of the Bank’s Group, including loans, advances and debt securities, as well as equity instruments. The GAR reflects the extent to which the Bank’s Group finances Taxonomy-aligned activities.
The GAR determines the percentage of the Bank Group’s assets financing Taxonomy-aligned (environmentally sustainable) business activities compared to the total assets of the Bank’s Group taken into account in the GAR calculation. The green asset ratio is calculated on the basis of the scope of prudential consolidation (in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms) and the FINREP report, i.e. consolidated financial statements prepared for central banks. A list of the Bank’s Group entities subject to prudential consolidation is included in the Report „Capital adequacy and other information of the PKO Bank Polski S.A. Group subject to disclosure as at 31 December 2023”
The assets included in the GAR numerator, in accordance with regulatory requirements, represent the Bank Group’s exposures relating to loans and advances, debt securities and equity instruments in the banking book to:
- financial enterprises meeting the criteria indicated in Article 19a or 29a of the NFRD;
- non-financial enterprises meeting the criteria indicated in Article 19a or 29a of the NFRD;
- households in relation to residential property loans, building renovation loans and motor vehicle loans;
- local authorities/municipalities in relation to the financing of housing and other specialist funding needs, and
- repossessed commercial and residential real estate collateral.
Assets included in the GAR denominator represent all on-balance sheet assets of the Bank’s Group excluding exposures to central governments, central banks and supranational issuers and the trading book.
The tables below present quantitative information as at 31 December 2023 regarding the Bank Group’s key performance indicators to be disclosed from 1 January 2024, by environmental objective: climate change mitigation and adaptation, and by customer segment and financial instrument.
Provides information on on-balance sheet and off-balance sheet assets, i.e. loans and advances, debt securities and equity instruments, captured in the GAR calculation;
Contains information on exposures to non-financial enterprises subject to the NFRD, including taxonomyaligned exposures that have been assigned, on the basis of the PKD code of their principal activity, to sectors covering taxonomy-aligned economic activities at NACE-4 level;
Contains information on GAR key performance indicators (relative to the stock);
Contains information on new exposures originated in 2023 (in relation to flow);
Contains information on key performance indicators for off-balance sheet exposures: financial guarantees and assets under management.
The tables are presented in two variants depending on the type of performance indicator (KPI) used in the assessment of exposures with unknown funding purpose (general purpose) in determining eligibility for the taxonomy and alignment with the taxonomy towards non-financial enterprises subject to the NFRD. These indicators are Turnover KPI (key performance indicator on turnover) and CapEx KPI (key performance indicator on capital expenditure).
The tables indicated in Annex VI of the Delegated Regulation to Article 8 of the Taxonomy were used to present the key performance indicators of the Bank’s Group.
Template 0 – a summary of KPIs to be disclosed by credit institutions under Article 8 Taxonomy Regulation
| in PLN million | Total environmentally sustainable assets (by CapEX) | KEY PERFORMAN CE INDICATOR (Turnover) | KEY PERFORMAN CE INDICATOR (CapEx) | % coverage (over total assets) | % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and Section 1.1.2 of Annex V) | % of assets excluded from the denominator of the GAR (Article 7(1) and Section 1.2.4 of Annex V) | |
| Main key performance indicator | Green asset ratio (GAR) stock | 4,178.13 | 0.95% | 1.23% | 65.37% | 41.94% | 34.63% |
| in PLN million | Total environmentally sustainable activities (by CapEX) | formance indicator (Turnover) | Key performance indicator (CapEx) | % coverage (over total assets) | % of assets excluded from the numerator of the GAR (Article 7(2) and (3) and Section 1.1.2 of Annex V) | % of assets excluded from the denominator of the GAR (Article 7(1) and Section 1.2.4 of Annex V) | |
| Additional KPIs | GAR (flow) | 1,737.67 | 1.88% | 2.94% | 61.74% | 38.20% | 38.26% |
| Trading book | |||||||
| Financial guarantees | – | – | – | ||||
| Assets under management | 723.44 | 0.53% | 1.94% | ||||
| Fee and commission income | |||||||
Template 1 – assets for the calculation of GAR – CapEx
| a | b | c | d | e | f | g | h | i | j | ab | ac | ad | ae | af | ||
|
in PLN million |
Disclosure reference date T | |||||||||||||||
| Total [gross] carrying amount | Climate Change Mitigation (CCM) | Climate Change Adaptation (CCA) | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | |||||||||||||
| Of which towards taxonomy relevant sectors (Taxonomy-eligible) | Of which towards taxonomy relevant sectors (Taxonomy-eligible) | Of which towards taxonomy relevant sectors (Taxonomy-eligible) | ||||||||||||||
| Of which environmentally sustainable (Taxonomy-aligned) | Of which environmentally suitable (Taxonomyaligned) | Of which environmentally suitable (Taxonomy-aligned) | ||||||||||||||
| Of which Use of Proceeds | Of which transitional | Of which enabling | Of which Use of Proceeds | Of which enabling | Of which Use of Proceeds | Of which transitional | Of which enabling | |||||||||
| GAR – Covered assets in both numerator and denominator | ||||||||||||||||
| 1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 121 666.28 | 121 666.28 | 4 149.98 | – | 0.85 | 905.83 | 33.24 | 28.16 | – | 4.57 | 112 199.74 | 4 178.13 | – | 0.85 | 910.40 |
| 2 | Financial undertakings | 164.49 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 3 | Credit institutions | 19.91 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 4 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 5 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 6 | Equity instruments | 19.91 | – | – | – | – | – | – | – | – | – | – | – | |||
| 7 | Other financial corporations | 144.58 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 8 | of which investment firms | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 9 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 10 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 11 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 12 | of which management companies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 13 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 14 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 15 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | — | |||
| 16 | of which insurance undertakings | 144.57 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 17 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 18 | Debt securities, including UoP | 144.57 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 19 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 20 | Non-financial undertakings | 12 058.63 | 3 027.66 | 1 296.75 | – | 0.85 | 905.83 | 33.24 | 28.16 | – | 4.57 | 3 060.91 | 1 324.91 | – | 0.85 | 910.40 |
| 21 | Loans and advances | 11 735.05 | 2 984.80 | 1 293.06 | – | 0.00 | 905.38 | 28.16 | 28.16 | – | 4.57 | 3 012.96 | 1 321.22 | – | 0.00 | 909.95 |
| 22 | Debt securities, including UoP | 323.58 | 42.86 | 3.69 | – | 0.85 | 0.45 | 5.09 | – | – | – | 47.95 | 3.69 | – | 0.85 | 0.45 |
| 23 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 24 | Households | 109 236.89 | 109 138.75 | 2 853.23 | – | – | – | – | – | – | – | 109 138.75 | 2 853.23 | – | – | – |
| 25 | of which loans collateralised by residential immovable property | 109 138.75 | 109 138.75 | 2 853.23 | – | – | – | – | – | – | – | 109 138.75 | 2 853.23 | – | – | – |
| 26 | of which building renovation loans | 2 174.00 | 2 165.87 | 24.91 | – | – | – | – | – | – | – | 2 165.87 | 24.91 | – | – | – |
| 27 | of which motor vehicle loans | 90.01 | – | – | – | – | – | – | – | – | – | – | ||||
| 28 | Local governments financing | 206.18 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 29 | Housing financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 30 | Other local government financing | 206.18 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.09 | 0.09 | – | – | – | – | – | – | – | – | 0.09 | – | – | – | – |
| 32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 217 753.08 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 33 | Financial and Non-financial undertakings | 170 456.86 | ||||||||||||||
| 34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations | 70 308.65 | ||||||||||||||
| 35 | Loans and advances | 67 893.38 | ||||||||||||||
| 36 | of which loans collateralised by commercial immovable property | 21 356.93 | ||||||||||||||
| 37 | of which building renovation loans | – | ||||||||||||||
| 38 | Debt securities | 2 260.34 | ||||||||||||||
| 39 | Equity instruments | 154.93 | ||||||||||||||
| 40 | Non-EU country counterparties not subject to NFRD disclosure obligations | 3 213.90 | ||||||||||||||
| 41 | Loans and advances | 2 479.23 | ||||||||||||||
| 42 | Debt securities | 423.69 | ||||||||||||||
| 43 | Equity instruments | 310.97 | ||||||||||||||
| 44 | Derivatives | 11.66 | ||||||||||||||
| 45 | On demand interbank loans | 8 023.86 | ||||||||||||||
| 46 | Cash and cash-related assets | 41.45 | ||||||||||||||
| 47 | Other categories of assets (e.g. goodwill, commodities, etc.) | 39 219.24 | ||||||||||||||
| 48 | Total GAR assets | 339 419.36 | 112 166.50 | 4 149.98 | – | 0.85 | 905.83 | 33.24 | 28.16 | – | 4.57 | 112 199.74 | 4 178.13 | – | 0.85 | 910.40 |
| 49 | Assets not covered for GAR calculation | 179 816.30 | ||||||||||||||
| 50 | Central governments and Supranational issuers | 138 106.93 | ||||||||||||||
| 51 | Central banks exposure | 32 725.28 | ||||||||||||||
| 52 | Trading book | 8 984.09 | ||||||||||||||
| 53 | Total assets | 519 235.66 | 112 166.50 | 4 149.98 | – | 0.85 | 905.83 | 33.24 | 28.16 | – | 4.57 | 112 199.74 | 4 178.13 | – | 0.85 | 910.40 |
| Off-balance sheet exposures – Undertakings subject to NFRD disclosure obligations | ||||||||||||||||
| 54 | Financial guarantees | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 55 | Assets under management | 43 647.28 | 723.44 | 723.44 | – | 40.30 | 495.12 | 71.78 | 71.78 | – | 49.12 | 1 529.68 | 846.18 | – | 40.30 | 579.12 |
| 56 | Of which debt securities | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 57 | Of which equity instruments | 43 647.28 | 723.44 | 723.44 | – | 40.30 | 495.12 | 71.78 | 71.78 | – | 49.12 | 1 529.68 | 846.18 | – | 40.30 | 579.12 |
Template 1 – assets for the calculation of GAR – Turnover
| a | b | c | d | e | f | g | h | i | j | ab | ac | ad | ae | af | ||
| in PLN million |
Disclosure reference date T | |||||||||||||||
| Total [gross] carrying amount | Climate Change Mitigation (CCM) | Climate Change Adaptation (CCA) | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | |||||||||||||
| Of which towards taxonomy relevant sectors (Taxonomy-eligible) | Of which towards taxonomy relevant sectors (Taxonomy-eligible) | Of which towards taxonomy relevant sectors (Taxonomy-eligible) | ||||||||||||||
| Of which environmentally sustainable (Taxonomy-aligned) | Of which environmentally sustainable (Taxonomy-aligned) | Of which environmentally sustainable (Taxonomy-aligned) | ||||||||||||||
| Of which Use of Proceeds | Of which transitional | transitional Of which enabling Of which Use | Of which Use of Proceeds | Of which enabling | Of which Use of Proceeds | Of which transitional | Of which enabling | |||||||||
| GAR – Covered assets in both numerator and denominator | ||||||||||||||||
| 1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 121 666.28 | 109 880.99 | 3 228.21 | – | – | 249.96 | 43.27 | 6.94 | – | 4.84 | 109 924.26 | 3 235.15 | – | – | 254.80 |
| 2 | Financial undertakings | 164.49 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 3 | Credit institutions | 19.91 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 4 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 5 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 6 | Equity instruments | 19.91 | – | – | – | – | – | – | – | – | – | – | – | |||
| 7 | Other financial corporations | 144.58 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 8 | of which investment firms | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 9 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 10 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 11 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 12 | of which management companies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 13 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 14 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 15 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | — | |||
| 16 | of which insurance undertakings | 144.57 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 17 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 18 | Debt securities, including UoP | 144.57 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 19 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 20 | Non-financial undertakings | 12 058.63 | 742.16 | 374.98 | – | – | 249.96 | 43.27 | 6.94 | – | 4.84 | 785.43 | 381.92 | – | – | 254.80 |
| 21 | Loans and advances | 11 735.05 | 704.22 | 371.27 | – | – | 246.28 | 6.94 | 6.94 | – | 4.84 | 711.16 | 378.21 | – | – | 251.13 |
| 22 | Debt securities, including UoP | 323.58 | 37.94 | 3.71 | – | – | 3.68 | 36.33 | – | – | – | 74.26 | 3.71 | – | – | 3.68 |
| 23 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 24 | Households | 109 236.89 | 109 138.75 | 2 853.23 | – | – | – | – | – | – | – | 109 138.75 | 2 853.23 | – | – | – |
| 25 | of which loans collateralised by residential immovable property | 109 138.75 | 109 138.75 | 2 853.23 | – | – | – | – | – | – | – | 109 138.75 | 2 853.23 | – | – | – |
| 26 | of which building renovation loans | 2 174.00 | 2 165.87 | 24.91 | – | – | – | – | – | – | – | 2 165.87 | 24.91 | – | – | – |
| 27 | of which motor vehicle loans | 90.01 | – | – | – | – | – | – | – | – | – | – | ||||
| 28 | Local governments financing | 206.18 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 29 | Housing financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 30 | Other local government financing | 206.18 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 31 | Collateral obtained by taking possession: residential and commercial immovable properties | 0.09 | 0.09 | – | – | – | – | – | – | – | – | 0.09 | – | – | – | – |
| 32 | Assets excluded from the numerator for GAR calculation (covered in the denominator) | 217 753.08 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 33 | Financial and Non-financial undertakings | 170 456.86 | ||||||||||||||
| 34 | SMEs and NFCs (other than SMEs) not subject to NFRD disclosure obligations | 70 308.65 | ||||||||||||||
| 35 | Loans and advances | 67 893.38 | ||||||||||||||
| 36 | of which loans collateralised by commercial immovable property | 21 356.93 | ||||||||||||||
| 37 | of which building renovation loans | – | ||||||||||||||
| 38 | Debt securities | 2 260.34 | ||||||||||||||
| 39 | Equity instruments | 154.93 | ||||||||||||||
| 40 | Non-EU country counterparties not subject to NFRD disclosure obligations | 3 213.90 | ||||||||||||||
| 41 | Loans and advances | 2 479.23 | ||||||||||||||
| 42 | Debt securities | 423.69 | ||||||||||||||
| 43 | Equity instruments | 310.97 | ||||||||||||||
| 44 | Derivatives | 11.66 | ||||||||||||||
| 45 | On demand interbank loans | 8 023.86 | ||||||||||||||
| 46 | Cash and cash-related assets | 41.45 | ||||||||||||||
| 47 | Other categories of assets (e.g. goodwill, commodities, etc.) | 39 219.24 | ||||||||||||||
| 48 | Total GAR assets | 339 419.36 | 109 880.99 | 3 228.21 | – | – | 249.96 | 43.27 | 6.94 | – | 4.84 | 109 924.26 | 3 235.15 | – | – | 254.80 |
| 49 | Assets not covered for GAR calculation | 179 816.30 | ||||||||||||||
| 50 | Central governments and Supranational issuers | 138 106.93 | ||||||||||||||
| 51 | Central banks exposure | 32 725.28 | ||||||||||||||
| 52 | Trading book | 8 984.09 | ||||||||||||||
| 53 | Total assets | 519 235.66 | 109 880.99 | 3 228.21 | – | – | 249.96 | 43.27 | 6.94 | – | 4.84 | 109 924.26 | 3 235.15 | – | – | 254.80 |
| Off-balance sheet exposures – Undertakings subject to NFRD disclosure obligations | ||||||||||||||||
| 54 | Financial guarantees | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 55 | Assets under management | 43 647.28 | 193.88 | 193.88 | – | 0.99 | 142.34 | 35.03 | 35.03 | – | 25.72 | 654.82 | 229.78 | – | 0.99 | 168.69 |
| 56 | Of which debt securities | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 57 | Of which equity instruments | 43 647.28 | 193.88 | 193.88 | – | 0.99 | 142.34 | 35.03 | 35.03 | – | 25.72 | 654.82 | 229.78 | – | 0.99 | 168.69 |
Template 2 – GAR sector information – CapEx
| a | b | c | d | e | f | g | h | y | z | aa | ab | ||
| Breakdown by sector – NACE 4 digits level (code and label) | Climate Change Mitigation (CCM) | Climate Change Adaptation (CCA) | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||||||
| Non-Financial corporates (Subject to NFRD) | SMEs and other NFC (Not subject to NFRD) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC (Not subject to NFRD | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC (Not subject to NFRD | ||||||||
| [Gross] carrying amount | [Gross] carrying amount | [Gross] carrying amount | [Gross] carrying amount | [Gross] carrying amount | [Gross] carrying amount | ||||||||
| PLN million | Of which environmentally sustainable (CCM) | PLN million | Of which environmentally sustainable (CCM) | PLN million | Of which environmentally sustainable (CCA) | PLN million | Of which environmentally sustainable (CCA) | PLN million | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) | mln PLN | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) | ||
| 1 | B0729 | 57.28 | 2.35 | – | – | 57.28 | 2.35 | ||||||
| 2 | C1013 | 3.92 | 3.92 | 1.31 | 1.31 | 5.23 | 5.23 | ||||||
| 3 | C1082 | 1.89 | – | – | – | 1.89 | – | ||||||
| 4 | C1102 | 0.90 | – | – | – | 0.90 | – | ||||||
| 5 | C1610 | 0.79 | – | – | – | 0.79 | – | ||||||
| 6 | C1920 | 2.44 | 1.16 | – | – | 2.44 | 1.16 | ||||||
| 7 | C2014 | 519.55 | 10.65 | 3.57 | 3.57 | 523.12 | 14.22 | ||||||
| 8 | C2030 | 0.10 | 0.04 | – | – | 0.10 | 0.04 | ||||||
| 9 | C2059 | 0.07 | 0.02 | – | – | 0.07 | 0.02 | ||||||
| 10 | C2219 | 1.80 | 0.70 | – | – | 1.80 | 0.70 | ||||||
| 11 | C2229 | 0.00 | – | – | – | 0.00 | – | ||||||
| 12 | C2361 | 1.01 | – | 0.66 | 0.66 | 1.67 | 0.66 | ||||||
| 13 | C2442 | 50.94 | 23.72 | – | – | 50.94 | 23.72 | ||||||
| 14 | C2445 | 0.00 | 0.00 | – | – | 0.00 | 0.00 | ||||||
| 15 | C2530 | 26.20 | – | 15.06 | 15.06 | 41.26 | 15.06 | ||||||
| 16 | C2593 | 1.33 | – | – | – | 1.33 | – | ||||||
| 17 | C2751 | 25.29 | 2.52 | 2.98 | 2.98 | 28.27 | 5.50 | ||||||
| 18 | C2841 | 2.77 | – | 4.57 | 4.57 | 7.34 | 4.57 | ||||||
| 19 | C2920 | 1.84 | 0.63 | – | – | 1.84 | 0.63 | ||||||
| 20 | C2931 | 12.86 | 12.86 | – | – | 12.86 | 12.86 | ||||||
| 21 | C2932 | 4.91 | 1.14 | – | – | 4.91 | 1.14 | ||||||
| 22 | C3109 | 47.13 | 17.90 | – | – | 47.13 | 17.90 | ||||||
| 23 | D3514 | 1 636.62 | 1 155.81 | 0.01 | 0.01 | 1 636.63 | 1 155.82 | ||||||
| 24 | D3523 | 0.00 | 0.00 | – | – | 0.00 | 0.00 | ||||||
| 25 | F4110 | 51.38 | – | – | – | 51.38 | – | ||||||
| 26 | F4120 | 0.01 | 0.00 | – | – | 0.01 | 0.00 | ||||||
| 27 | F4322 | 0.94 | 0.00 | – | – | 0.94 | 0.00 | ||||||
| 28 | G4642 | 8.91 | – | – | – | 8.91 | – | ||||||
| 29 | G4711 | 320.00 | – | – | – | 320.00 | – | ||||||
| 30 | G4771 | 0.02 | 0.00 | – | – | 0.02 | 0.00 | ||||||
| 31 | G4772 | 30.73 | – | – | – | 30.73 | – | ||||||
| 32 | G4791 | 0.61 | – | – | – | 0.61 | – | ||||||
| 33 | H4920 | 175.00 | 60.78 | – | – | 175.00 | 60.78 | ||||||
| 34 | J6130 | 10.46 | 2.53 | 5.09 | – | 15.54 | 2.53 | ||||||
| 35 | L6820 | 29.96 | – | – | – | 29.96 | – | ||||||
Template 2 – GAR sector information – Turnover
| a | b | c | d | e | f | g | h | y | z | aa | ab | ||
| Breakdown by sector – NACE 4 digits level (code and label) | Climate Change Mitigation (CCM) | Climate Change Adaptation (CCA) | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||||||
| Non-Financial corporates (Subject to NFRD) | SMEs and other NFC (Not subject to NFRD) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC (Not subject to NFRD) | Non-Financial corporates (Subject to NFRD) | SMEs and other NFC (Not subject to NFRD) | ||||||||
| [Gross] carrying amount | [Gross] carrying amount | [Gross] carrying amount | [Gross] carrying amount | [Gross] carrying amount | [Gross] carrying amount | ||||||||
| PLN million | Of which environmentally sustainable (CCM) | PLN million | Of which environmentally sustainable (CCM) | PLN million | Of which environmentally sustainable (CCA) | PLN million | Of which environmentally sustainable (CCA) | PLN million | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) | PLN million | Of which environmentally sustainable (CCM + CCA + WTR + CE + PPC + BIO) | ||
| 1 | B0729 | 17.02 | 11.01 | – | – | 17.02 | 11.01 | ||||||
| 2 | C1610 | 0.79 | – | – | – | 0.79 | – | ||||||
| 3 | C1920 | 2.02 | 0.19 | – | – | 2.02 | 0.19 | ||||||
| 4 | C2014 | 18.41 | – | – | – | 18.41 | – | ||||||
| 5 | C2059 | 0.01 | – | 0.00 | 0.00 | 0.01 | 0.00 | ||||||
| 6 | C2361 | 1.01 | – | 0.66 | 0.66 | 1.67 | 0.66 | ||||||
| 7 | C2442 | 64.03 | 33.84 | – | – | 64.03 | 33.84 | ||||||
| 8 | C2445 | 0.00 | – | – | – | 0.00 | – | ||||||
| 9 | C2530 | 16.64 | 0.11 | 1.42 | 1.42 | 18.06 | 1.54 | ||||||
| 10 | C2593 | 0.08 | – | – | – | 0.08 | – | ||||||
| 11 | C2751 | 26.60 | 3.83 | 0.01 | 0.01 | 26.60 | 3.84 | ||||||
| 12 | C2841 | 3.77 | – | 4.84 | 4.84 | 8.61 | 4.84 | ||||||
| 13 | C2920 | 0.05 | – | – | – | 0.05 | – | ||||||
| 14 | C2931 | 11.66 | 11.66 | – | – | 11.66 | 11.66 | ||||||
| 15 | C2932 | 0.20 | – | – | – | 0.20 | – | ||||||
| 16 | C3109 | 0.46 | – | – | – | 0.46 | – | ||||||
| 17 | D3514 | 320.46 | 243.79 | – | – | 320.46 | 243.79 | ||||||
| 18 | D3523 | 0.00 | 0.00 | – | – | 0.00 | 0.00 | ||||||
| 19 | F4110 | 60.62 | – | – | – | 60.62 | – | ||||||
| 20 | F4120 | 0.01 | 0.00 | – | – | 0.01 | 0.00 | ||||||
| 21 | F4322 | 0.53 | 0.03 | – | – | 0.53 | 0.03 | ||||||
| 22 | G4772 | 0.03 | 0.01 | – | – | 0.03 | 0.01 | ||||||
| 23 | G4791 | 0.61 | – | – | – | 0.61 | – | ||||||
| 24 | H4920 | 161.25 | 67.00 | – | – | 161.25 | 67.00 | ||||||
| 25 | J6130 | 5.95 | 3.52 | 36.33 | – | 42.28 | 3.52 | ||||||
| 26 | L6820 | 29.96 | – | – | – | 29.96 | – | ||||||
Template 3 – GAR KPI stock – CapEx
| a | b | c | d | e | f | g | h | i | aa | ab | ac | ad | ae | af | ||
| % (compared to total covered assets in denominator) | Disclosure reference date T | |||||||||||||||
| Climate Change Mitigation (CCM) | Climate Change Adaptation (CCA) | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||||||||||
| Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total assets covered | |||||||||||||
| Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | Proportion of total covered assets funding taxonomy assets covered relevant sectors (Taxonomy-aligned) | ||||||||||||||
| Of which Use of Proceeds | Of which transitional | Of which enabling | Of which Use of Proceeds | Of which enabling | Of which Use of Proceeds | Of which transitional | Of which enabling | |||||||||
| GAR – Covered assets in both numerator and denominator | ||||||||||||||||
| 1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 92.19% | 3.41% | – | 0.00% | 0.74% | 0.03% | 0.02% | – | 0.00% | 92.22% | 3.43% | – | 0.00% | 0.75% | 23.43% |
| 2 | Financial undertakings | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0.03% |
| 3 | Credit institutions | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0.00% |
| 4 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 5 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 6 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | 0.00% | |||
| 7 | Other financial corporations | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0.03% |
| 8 | of which investment firms | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 9 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 10 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 11 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 12 | of which management companies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 13 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 14 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 15 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 16 | of which insurance undertakings | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0.03% |
| 17 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 18 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0.03% |
| 19 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 20 | Non-financial undertakings | 25.11% | 10.75% | – | 0.01% | 7.51% | 0.28% | 0.23% | – | 0.04% | 25.38% | 10.99% | – | 0.01% | 7.55% | 2.32% |
| 21 | Loand and advances | 25.43% | 11.02% | – | – | 7.72% | 0.24% | 0.24% | – | 0.04% | 25.67% | 11.26% | – | – | 7.75% | 2.26% |
| 22 | Debt securities, including UoP | 13.25% | 1.14% | – | 0.26% | 0.14% | 1.57% | – | – | – | 14.82% | 1.14% | – | 0.26% | 0.14% | 0.06% |
| 23 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 24 | Households | 99.91% | 2.61% | – | – | – | – | – | – | – | 99.91% | 2.61% | – | – | – | 21.04% |
| 25 | of which loans collateralised by residential immovable property | 100.00% | 2.61% | – | – | – | – | – | – | – | 100.00% | 2.61% | – | – | – | 21.02% |
| 26 | of which building renovation loans | 99.63% | 1.15% | – | – | – | – | – | – | – | 99.63% | 1.15% | – | – | – | 0.42% |
| 27 | of which motor vehicle loans | – | – | – | – | – | – | – | – | – | – | 0.02% | ||||
| 28 | Local government financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0.04% |
| 29 | Housing financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 30 | Other local government financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0.04% |
| 31 | Collateral obtained by taking possession: residential and commercial immovable properties | 100.00% | – | – | – | – | – | – | – | – | 100.00% | – | – | – | – | – |
| 32 | Total GAR assets | 33.05% | 1.22% | – | 0.00% | 0.27% | 0.01% | 0.01% | – | 0.00% | 33.06% | 1.23% | – | 0.00% | 0.27% | 65.37% |
Template 3 – GAR KPI stock – Turnover
| a | b | c | d | e | f | g | h | i | aa | ab | ac | ad | ae | af | ||
| % (compared to total covered assets in denominator) | Disclosure reference date T | |||||||||||||||
| Climate Change Mitigation (CCM) | Climate Change Adaptation (CCA) | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||||||||||
| Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total assets covered | |||||||||||||
| Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | ||||||||||||||
| Of which Use of Proceeds | Of which transitional | Of which enabling | Of which Use of Proceeds | Of which enabling | Of which Use of Proceeds | Of which transitional | Of which enabling | |||||||||
| GAR – Covered assets in both numerator and denominator | ||||||||||||||||
| 1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 90,31% | 2,65% | – | – | 0,21% | 0,04% | 0,01% | – | 0,00% | 90,35% | 2,66% | – | – | 0,21% | 23,43% |
| 2 | Financial undertakings | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0,03% |
| 3 | Credit institutions | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0,00% |
| 4 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 5 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 6 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | 0,00% | |||
| 7 | Other financial corporations | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0,03% |
| 8 | of which investment firms | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 9 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 10 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 11 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 12 | of which management companies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 13 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 14 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 15 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 16 | of which insurance undertakings | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0,03% |
| 17 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 18 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0,03% |
| 19 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 20 | Non-financial undertakings | 6,15% | 3,11% | – | – | 2,07% | 0,36% | 0,06% | – | 0,04% | 6,51% | 3,17% | – | – | 2,11% | 2,32% |
| 21 | Loand and advances | 6,00% | 3,16% | – | – | 2,10% | 0,06% | 0,06% | – | 0,04% | 6,06% | 3,22% | – | – | 2,14% | 2,26% |
| 22 | Debt securities, including UoP | 11,72% | 1,15% | – | – | 1,14% | 11,23% | – | – | – | 22,95% | 1,15% | – | – | 1,14% | 0,06% |
| 23 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 24 | Households | 99,91% | 2,61% | – | – | – | – | – | – | – | 99,91% | 2,61% | – | – | – | 21,04% |
| 25 | of which loans collateralised by residential immovable property | 100,00% | 2,61% | – | – | – | – | – | – | – | 100,00% | 2,61% | – | – | – | 21,02% |
| 26 | of which building renovation loans | 99,63% | 1,15% | – | – | – | – | – | – | – | 99,63% | 1,15% | – | – | – | 0,42% |
| 27 | of which motor vehicle loans | – | – | 0,00% | 0,00% | 0,00% | – | – | – | – | – | 0,02% | ||||
| 28 | Local government financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0,04% |
| 29 | Housing financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 30 | Other local government financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0,04% |
| 31 | Collateral obtained by taking possession: residential and commercial immovable properties | 100,00% | – | – | – | – | – | – | – | – | 100,00% | – | – | – | – | – |
| 32 | Total GAR assets | 32,37% | 0,95% | – | – | 0,07% | 0,01% | 0,00% | – | 0,00% | 32,39% | 0,95% | – | – | 0,08% | 65,37% |
Template 4 – GAR KPI flow – CapEx
| a | b | c | d | e | f | g | h | i | aa | ab | ac | ad | ae | af | ||
| % (compared to flow of total eligible assets) | Disclosure reference date T | |||||||||||||||
| Climate Change Mitigation (CCM) | Climate Change Adaptation (CCA) | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||||||||||
| Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total new assets covered | |||||||||||||
| Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | ||||||||||||||
| Of which Use of Proceeds | Of which transitional | Of which enabling | Of which Use of Proceeds | Of which enabling | Of which Use of Proceeds | of Proceeds Of which transitional | Of which enabling | |||||||||
| GAR – Covered assets in both numerator and denominator | ||||||||||||||||
| 1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 76.79% | 7.71% | – | – | 2.82% | 0.02% | 0.00% | – | – | 76.82% | 7.71% | – | – | 2.82% | 23.54% |
| 2 | Financial undertakings | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 3 | Credit institutions | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 4 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 5 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 6 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 7 | Other financial corporations | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 8 | of which investment firms | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 9 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 10 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 11 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 12 | of which management companies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 13 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 14 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 15 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 16 | of which insurance undertakings | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 17 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 18 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 19 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 20 | Non-financial undertakings | 17.05% | 12.76% | – | – | 10.12% | 0.09% | 0.01% | – | – | 17.14% | 12.77% | – | – | 10.12% | 6.55% |
| 21 | Loand and advances | 17.65% | 13.30% | – | – | 10.58% | 0.01% | 0.01% | – | – | 17.65% | 13.30% | – | – | 10.58% | 6.27% |
| 22 | Debt securities, including UoP | 3.85% | 0.93% | – | – | 0.09% | 1.87% | – | – | – | 5.72% | 0.93% | – | – | 0.09% | 0.28% |
| 23 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 24 | Households | 100.00% | 5.77% | – | – | – | – | – | – | – | 100.00% | 5.77% | – | – | – | 16.96% |
| 25 | of which loans collateralised by residential immovable property | 100.00% | 5.77% | – | – | – | – | – | – | – | 100.00% | 5.77% | – | – | – | 16.96% |
| 26 | of which building renovation loans | 99.69% | 3.99% | – | – | – | – | – | – | – | 99.69% | 3.99% | – | – | – | 0.15% |
| 27 | of which motor vehicle loans | – | – | – | – | – | – | – | – | – | – | – | ||||
| 28 | Local government financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0.03% |
| 29 | Housing financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 30 | Other local government financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0.03% |
| 31 | Collateral obtained by taking possession: residential and commercial immovable properties | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 32 | Total GAR assets | 29.28% | 2.94% | – | – | 1.07% | 0.01% | 0.00% | – | – | 29.29% | 2.94% | – | – | 1.07% | 61.74% |
Template 4 – GAR KPI flow – Flow
| a | b | c | d | e | f | g | h | i | aa | ab | ac | ad | ae | af | ||
| % (compared to flow of total eligible assets) | Disclosure reference date T | |||||||||||||||
| Climate Change Mitigation (CCM) | Climate Change Adaptation (CCA) | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | ||||||||||||||
| Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total new assets covered | |||||||||||||
| Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | ||||||||||||||
| Of which Use of Proceeds | Of which transitional | Of which enabling | Of which Use of Proceeds | Of which enabling | Of which Use of Proceeds | Of which transitional | Of which enabling | |||||||||
| GAR – Covered assets in both numerator and denominator | ||||||||||||||||
| 1 | Loans and advances, debt securities and equity instruments not HfT eligible for GAR calculation | 73,01% | 4,93% | – | – | 0,63% | 0,16% | – | – | – | 73,17% | 4,93% | – | – | 0,63% | 23,54% |
| 2 | Financial undertakings | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 3 | Credit institutions | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 4 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 5 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 6 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 7 | Other financial corporations | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 8 | of which investment firms | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 9 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 10 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 11 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 12 | of which management companies | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 13 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 14 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 15 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 16 | of which insurance undertakings | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 17 | Loans and advances | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 18 | Debt securities, including UoP | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 19 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 20 | Non-financial undertakings | 3,45% | 2,80% | – | – | 2,25% | 0,58% | – | – | – | 4,03% | 2,80% | – | – | 2,25% | 6,55% |
| 21 | Loand and advances | 3,51% | 2,87% | – | – | 2,29% | – | – | – | – | 3,51% | 2,87% | – | – | 2,29% | 6,27% |
| 22 | Debt securities, including UoP | 2,19% | 1,30% | – | – | 1,30% | 13,37% | – | – | – | 15,56% | 1,30% | – | – | 1,30% | 0,28% |
| 23 | Equity instruments | – | – | – | – | – | – | – | – | – | – | – | – | |||
| 24 | Households | 100,00% | 5,77% | – | – | – | – | – | – | – | 100,00% | 5,77% | – | – | – | 16,96% |
| 25 | of which loans collateralised by residential immovable property | 100,00% | 5,77% | – | – | – | – | – | – | – | 100,00% | 5,77% | – | – | – | 16,96% |
| 26 | of which building renovation loans | 99,69% | 3,99% | – | – | – | – | – | – | – | 99,69% | 3,99% | – | – | – | 0,15% |
| 27 | of which motor vehicle loans | – | – | – | – | – | – | – | – | – | – | – | ||||
| 28 | Local government financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0,03% |
| 29 | Housing financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 30 | Other local government financing | – | – | – | – | – | – | – | – | – | – | – | – | – | – | 0,03% |
| 31 | Collateral obtained by taking possession: residential and commercial immovable properties | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 32 | Total GAR assets | 27,84% | 1,88% | – | – | 0,24% | 0,06% | – | – | – | 27,90% | 1,88% | – | – | 0,24% | 61,74% |
Template 5 – KPI off-balance sheet exposures – CapEx
| a | b | c | d | e | f | g | h | i | aa | ab | ac | ad | ae | ||
| % (compared to total eligible off-balance-sheet assets) | Disclosure reference date T | ||||||||||||||
| Climate Change Mitigation (CCM) | Climate Change Adaptation (CCA) | TOTAL (CCM + CCA + WTR + CE + PPC + BIO) | |||||||||||||
| Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-eligible) | |||||||||||||
| Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomyaligned) | Proportion of total covered assets funding taxonomy relevant sectors (Taxonomy-aligned) | |||||||||||||
| Of which Use of Proceeds | Of which transitional | Of which enabling | Of which Use of Proceeds | Of which enabling | Of which Use of Proceeds | Of which transitional | Of which enabling | ||||||||
| 1 | Financial guarantees (FinGuar KPI) | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| 2 | Assets under management (AuM KPI) | 1.66% | 1.66% | – | 0.09% | 1.13% | 0.16% | 0.16% | – | 0.11% | 3.50% | 1.94% | – | 0.09% | 1.33% |
Contextual information – key assumptions for GAR calculation
The Bank has analysed its portfolio with respect to customers required to report on non-financial matters in accordance with the criteria indicated in Article 19a or 29a of the NFRD. The entities analysed meet the definition of large entities that are public interest entities or public interest entities that are the parent of a large group, have more than 500 employees and publish statements on non-financial information, among other mandatory disclosures on the EU Taxonomy. As part of the customer verification process, the Bank made auxiliary use of the Credit Information Bureau’s (BIK) ESG database containing data resulting from Polish companies’ non-financial reporting obligations for 2022.
Exposures to financial enterprises that meet the criteria indicated in Articles 19a or 29a of the NFRD have not been assessed for alignment with the taxonomy due to the transitional period until the end of 2023. During this period, financial undertakings are required to publish information on eligibility for taxonomy of their business activities. The Bank Group’s disclosure on the eligibility of financial entities for the taxonomy has been prepared based on the information presented in the non-financial reports of these entities published in 2023 (for 2022). If a financial firm subject to the NFRD disclosed an eligibility indicator for taxonomy in total, i.e. without splitting into Turnover KPI and CapEx KPI, the Bank assigned a value of zero to exposures to entities for both Turnover KPI and CapEx KPI.
To determine exposures to non-financial entities subject to the NFRD as taxonomy-eligible and taxonomy-compliant, the Bank used the Turnover and CapEx KPIs. These indicators were disclosed by these entities in the non-financial reports published in 2023 (for 2022). For exposures included in the banking book where the purpose of the funds is not known (loans and advances, debt securities and equity instruments, the value of taxonomy-eligible and taxonomy-compliant assets was calculated as the product of the gross carrying amount and the respective KPIs: Turnover KPI and CapEx KPI.
As taxonomy-eligible but not taxonomy-aligned activities were not assigned to a specific environmental objective by these entities, the Bank assumed that they would be disclosed as activities contributing to the first environmental objective, i.e. climate change mitigation (CCM). However, if it was clear from the activity described by the entity that this activity contributes to the second environmental objective, i.e. climate change adaptation (CCA), then the Bank assigned it to CCA.
In 2023, the Bank began work on implementing a customer survey process for taxonomy alignment, so in this disclosure the Bank does not classify loans with a known funding purpose due to the lack of information on taxonomy eligibility and alignment for financed investment projects.
Off-balance sheet exposures to non-financial entities subject to the NFRD are assessed as taxonomy eligible and compliant based on the Turnover KPI and CapEx KPI. The KPIs of these customers were disclosed in the non-financial reports published in 2023 (for 2022).
Exposures to households for residential real estate loans and loans for building renovations were considered taxonomy eligible, while they were considered taxonomy compliant if they met the condition of making a significant contribution to climate change mitigation and the principle of 'no significant harm’ in relation to climate change adaptation.
According to the interpretation of the Ministry of Economic Development and Technology, the assessment of a significant contribution to climate change mitigation for residential buildings constructed before 31 December 2020 is met when the non-renewable primary energy demand for heating, ventilation, cooling and domestic hot water preparation (EP indicator) is less than 76.59 kWh/(m2*year) and has been confirmed on the basis of the building’s energy performance certificate
According to the interpretation of the Ministry of Economic Development and Technology, the assessment of a significant contribution to climate change mitigation for residential buildings constructed after 31 December 2020 is met when the EP indicator is at least 10% lower than the threshold set for the nearly zero-energy building (NZEB) requirements in national measures implementing Directive 2010/31/EU of the European Parliament and of the Council. To this end, the Bank compared the calculated value of the EP indicator with the limit value, reduced by 10% (determined as set out in § 329(1) of the Announcement of the Minister of Infrastructure of 12 April 2002 on the technical conditions to be met by buildings and their location), of 63 kWh/(m2*year) for single-family residential buildings and 58.5 kWh/(m2*year) for multi-family buildings. The EP value was confirmed by the building’s energy performance certificate. Confirmation of the 'do no significant harm’ principle in relation to the environmental objective of climate change adaptation was achieved by examining the physical risk exposure of the analysed properties using the KLIMADA portal, based on the address of the property, for which a risk level of 1 to 4 was defined.
Exposures to households for motor vehicle loans were considered ineligible for taxonomy, due to the lack of specific information on the object of financing.
PKO BP S.A. is a universal bank and its business model is not based on the financing of public housing, therefore the Bank does not disclose exposures to local authority units for loans and advances that finance public housing. The Bank does not classify exposures to public authorities related to specialised lending due to the lack of information on eligibility and alignment with the taxonomy of the investment projects financed.
Exposure representing repossessed collateral in the form of commercial real estate has been classified as taxonomyeligible but not taxonomy-aligned.
Summary of selected green asset ratios (GAR) of the Bank’s Group
| Green asset ratio (GAR) (PLN mln) | Taxonomy-aligned exposures based on the KPI Turnover | Green asset ratio KPI Turnover | Taxonomy-aligned exposures based on the KPI CapEx | Green asset ratio KPI CapEx |
|---|---|---|---|---|
| GAR for lending activities to non-financial NFRD undertakings | 378.21 | 3.22% | 1,321.22 | 11.26% |
| GAR for debt securities to non-financial NFRD undertakings | 3.71 | 1.15% | 3.69 | 1.14% |
| GAR for total financing in Non-Financial NFRD undertakings | 381.92 | 3.17% | 1,324.91 | 10.99% |
| GAR for residential real estate or house renovation loans to households | 2,853.23 | 2.61% | 2,853.23 | 2.61% |
| Total green asset ratio (Total GAR) | 3,235.15 | 0.95% | 4,178.13 | 1.23% |
Disclosure of business activities in certain energy sectors
The Bank has not identified the Bank Group’s exposure to nuclear-related business activities. The tables below present information on business activities related to natural gas. They are presented in two variants, depending on which indicator (Turnover KPI or CapEx KPI) was used in the calculation of eligibility for taxonomy and alignment with the taxonomy of general purpose exposures to non-financial enterprises subject to the NFRD.
| Nuclear energy related activities | ||
| 1 | The undertaking carries out, funds or has exposures to research, development, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle. | NO |
| 2 | The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies. | NO |
| 3 | The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades. | NO |
| Fossil gas related activities | ||
| 4 | The undertaking carries out, funds or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels. | YES |
| 5 | The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of combined heat/cool and power generation facilities using fossil gaseous fuels | YES |
| 6 | he undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels. | YES |
| Nuclear energy related activities | ||
|---|---|---|
| 1 | The undertaking carries out, funds or has exposures to research, development, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle. | NO |
| 2 | The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies. | NO |
| 3 | The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades. | NO |
| Fossil gas related activities | ||
| 4 | The undertaking carries out, funds or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels | YES |
| 5 | The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of combined heat/cool and power generation facilities using fossil gaseous fuels. | YES |
| 6 | The undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels. | YES |
| Economic activities | Amount and proportion (the information is to be presented in monetary amounts and as percentages) | ||||||
| CCM + CCA | Climate change mitigation (CCM) | Climate change adaptation (CCA) | |||||
| Amount | % | Amount | % | Amount | % | ||
| 1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 4 | Amount and proportion of taxonomy-aligned economic activityreferred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 4,178 | 1.23% | 4,150 | 1.22% | 28 | 0.01% |
| 8 | Total applicable KPI | 4,178 | 1.23% | 4,150 | 1.22% | 28 | 0.01% |
| Economic activities | Amount and proportion (the information is to be presented in monetary amounts and as percentages) | ||||||
| CCM + CCA | Climate change mitigation (CCM) | Climate change adaptation (CCA) | |||||
| Amount | % | Amount | % | Amount | % | ||
| 1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 4 | Amount and proportion of taxonomy-aligned economic activityreferred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 3,235 | 0.95% | 3,228 | 0.95% | 7 | 0% |
| 8 | Total applicable KPI | 3,235 | 0.95% | 3,228 | 0.95% | 7 | 0% |
| Economic activities | Amount and proportion (the information is to be presented in monetary amounts and as | ||||||
| CCM + CCA | Climate change mitigation (CCM) | Climate Change Adaptation (CCA) | |||||
| Amount | % | Amount | % | Amount | % | ||
| 1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 4,178 | 100% | 4,150 | 99.33% | 28 | 0.67% |
| 8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 4,178 | 100% | 4,150 | 99.33% | 28 | 0.67% |
| Economic activities | Amount and proportion (the information is to be presented in monetary amounts and as | ||||||
| CCM + CCA | Climate change | Climate Change | |||||
| Amount | % | Amount | % | Amount | % | ||
| 1 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 2 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 3 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 4 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 5 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 6 | Amount and proportion of taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the numerator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 7 | Amount and proportion of other taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the numerator of the applicable KPI | 3,235 | 100% | 3,228 | 99.79% | 7 | 0.21% |
| 8 | Total amount and proportion of taxonomy-aligned economic activities in the numerator of the applicable KPI | 3,235 | 100% | 3,228 | 99.79% | 7 | 0.21% |
| Economic activities | Proportion (the information is to be presented in monetary amounts and as percentages) | ||||||
| CCM + CCA | Climate change mitigation (CCM) | Climate change adaptation (CCA) | |||||
| Amount | % | Amount | % | Amount | % | ||
| 1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 301 | 0.09% | 301 | 0.09% | – | 0% |
| 5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 97 | 0.03% | 97 | 0.03% | – | 0% |
| 6 | 6 Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 4 | 0% | 4 | 0% | – | 0% |
| 7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 107,620 | 31.71% | 107,615 | 31.71% | 5 | 0.00% |
| 8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 108,022 | 31.82% | 108,017 | 31.82% | 5 | 0.00% |
| Economic activities | Proportion (the information is to be presented in monetary amounts and as percentages) | ||||||
| CCM + CCA | Climate change mitigation (CCM) | Climate change adaptation (CCA) | |||||
| Amount | % | Amount | % | Amount | % | ||
| 1 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 2 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 3 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | 0% | – | 0% | – | 0% |
| 4 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 2 | 0.00% | 2 | 0.00% | – | 0% |
| 5 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 28 | 0.01% | 28 | 0.01% | – | 0% |
| 6 | Amount and proportion of taxonomy-eligible but not taxonomy-aligned economic activity referred to in Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | 1 | 0.00% | 1 | 0.00% | – | 0% |
| 7 | Amount and proportion of other taxonomy-eligible but not taxonomy-aligned economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 106,658 | 31.41% | 106,621 | 31.41% | 36 | 0.00% |
| 8 | Total amount and proportion of taxonomy eligible but not taxonomy-aligned economic activities in the denominator of the applicable KPI | 106,689 | 31.42% | 106,653 | 31.42% | 36 | 0.00% |
| Economic activities | Amount | Percentage | |
|---|---|---|---|
| 1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | – |
| 2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | – |
| 3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | – |
| 4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible inaccordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | – |
| 5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | – |
| 6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | – |
| 7 | Amount and proportion of other taxonomy-non eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 9,467 | 2.79% |
| 8 | Total amount and proportion of taxonomy-non eligible economic activities in the denominator of the applicable KPI | 9,467 | 2.79% |
| Economic activities | Amount | Percentage | |
|---|---|---|---|
| 1 | Amount and proportion of economic activity referred to in row 1 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.26 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | – |
| 2 | Amount and proportion of economic activity referred to in row 2 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.27 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | – |
| 3 | Amount and proportion of economic activity referred to in row 3 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.28 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | – |
| 4 | Amount and proportion of economic activity referred to in row 4 of Template 1 that is taxonomy-non-eligible inaccordance with Section 4.29 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | – |
| 5 | Amount and proportion of economic activity referred to in row 5 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.30 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | – |
| 6 | Amount and proportion of economic activity referred to in row 6 of Template 1 that is taxonomy-non-eligible in accordance with Section 4.31 of Annexes I and II to Delegated Regulation 2021/2139 in the denominator of the applicable KPI | – | – |
| 7 | Amount and proportion of other taxonomy-non eligible economic activities not referred to in rows 1 to 6 above in the denominator of the applicable KPI | 11,742 | 3.46% |
| 8 | Total amount and proportion of taxonomy-non eligible economic activities in the denominator of the applicable KPI | 11,742 | 3.46% |
Additional disclosures
The Bank analysed the economic activities of non-financial entities subject to the NFRD based on the dominant NACE code for the other four environmental objectives and new activities in the area of the first two environmental objectives. The results of this analysis indicated that some of the economic activities contribute to 5 of the 6 environmental objectives at the same time. Therefore, as it is not possible to assign a specific percentage to an environmental objective, the indicators presented below refer to economic activities eligible for taxonomy in total for all six environmental objectives and to economic activities not eligible for taxonomy.
Quantitative information
| INDICATOR | 2023 |
|---|---|
| Exposures to taxonomy non-eligible economic activities in total assets | 1.0% |
| Exposures to taxonomy eligible economic activities in total assets (all 6 environmental objectives) | 1.5% |
Voluntary disclosures
In addition to the mandatory taxonomy disclosure, the Bank discloses voluntary information on the taxonomy eligibility and alignment of exposures to non-financial enterprises that are not subject to mandatory disclosure under Article 8 of the EU Taxonomy. The Bank has sourced information on the achievement of environmental taxonomy targets on a voluntary basis and bilaterally as part of the investment lending process. In 2023, the Bank commenced work on implementing taxonomy questionnaires, which support the assessment of meeting the technical screening criteria of the EU Taxonomy, for targeted financing. The taxonomy analysis covered 24 investment loans in a total amount of PLN 2,049.7 million, including 18 investment loans in a total amount of PLN 1,701.9 million for financing non-taxonomy-eligible business activities and six investment loans in a total amount of PLN 347.1 million for taxonomy-eligible business activities. Among the loan transactions concluded, two of them, totalling PLN 79.3 million, concerned investment projects meeting the criterion of making a significant contribution to climate change mitigation and the „do no significant harm” principle. One investment project concerned the financing of high-efficiency cogeneration of heat and power from bioenergy, the other the financing of innovative recovery of materials from waste. The Bank has no information on the compliance of the two borrowers analysed with the minimum safeguards. Exposures from these transactions were considered partially taxonomy-aligned and were not included in the calculation of the GAR numerator for 2023.
Qualitative information to be disclosed in accordance with Annex XI of the delegated regulation to article 8 of the EU Taxonomy
In December 2022, the Bank’s Management Board adopted the “Strategy of PKO Bank Polski for the years 2023- 2025 – “Ready for the challenges, focused on the future” It is focused on people – employees and customers – as well as innovation, technology and sustainability. The Bank wants to support the long-term goal of the Paris Agreement – to limit the increase in global temperature to well below 2°C compared to pre-industrial levels.
The Bank continues to implement financing solutions for the energy transition of the Polish economy, both in terms of energy and social mobility. The Bank Group’s product offering is tailored to the changing needs of all its customers. The portfolio of the Bank’s Capital Group is successively expanding to include financing for wind, solar, hydro, biomass energy, energy-efficient real estate or electromobility. The implementation of the Strategy takes into account the further development of business in all customer segments: corporate, business and enterprise, individual, and the development of leasing activities to support the competitiveness of Polish companies in the face of rising energy prices and changing business and regulatory requirements. These measures are intended to help redirect capital towards activities that will significantly contribute to the achievement of European Green Deal goals such as climate neutrality and resilience, zero emissions, protection of biodiversity and ecosystems, transition to a circular economy and sustainable use of water and marine resources.
As a result of the measures planned and taken, the Bank intends to become the leader of the highest volume of new financing of sustainable and transformation projects.
With this in mind, in December 2023, the Bank adopted the Principles for the classification of sustainability financing in the PKO Bank Polski S.A. Group, which take into account the requirements of international standards and the regulatory environment, in particular those arising from the EU Taxonomy and the European Green Bond. The Bank is in the process of implementing the provisions of the Principles, in particular with regard to its business and reporting processes, as well as the related IT systems. In January 2024, taxonomy questionnaires were implemented at the Bank to support the assessment of meeting the technical screening criteria of the EU Taxonomy for targeted financing. The questionnaires form the basis for obtaining information from the Bank’s customers regarding compliance with the minimum requirements that an investment financed by the Bank or a business activity carried out by the Bank’s customers should meet in order to be considered environmentally sustainable.
The survey process will help monitor the level of funding for environmentally sustainable projects, which is an important part of achieving the objectives arising from the Bank’s strategy for 2023-2025.
At the same time, the process of adapting the offering to the requirements for products with a positive environmental impact is underway.