CONSCIOUS ORGANISATION
We integrate transparency with accountability. We continuously enhance our transparency practices and effectively adapt to new regulations. We are open to external ESG assessment.
Taking into account the dynamic changes in the environment in which we operate, we provide best risk management solutions and continuously improve our internal frameworks that support sustainable development.
-
Focusing its activities on environmental, social, and governance aspects (ESG – E: environmental, S – social, G – governance) and with a view to the effective implementation of the ESG strategy, the ESG Committee was established in November 2021 by the decision of the Management Board.
The purpose of the Committee is to provide strategic oversight of the Bank’s activities in the area of ESG. It serves as a platform for internal dialogue within the organisation on sustainable development.
The Committee also performs a consultative and advisory role for the Bank’s Management Board with respect to ESG-related activities. Furthermore, the establishment of the Committee ensures systematic, monthly monitoring of the implementation of the ESG strategy of Bank Ochrony Środowiska S.A.
-
BOŚ S.A. has introduced a new assessment element into its credit risk evaluation process, namely the assessment of ESG risks identified in potential borrowers. Before making financing decisions for enterprises and local government units, the Bank assesses whether, as part of its business activities, the client supports environmental protection (E – environmental), demonstrates social responsibility (S – social), and applies appropriate corporate governance practices within its organisational structures (G – governance).
The importance of non-financial factors in the assessment of entities is systematically increasing. Along with the evolution of the capital market, the “quality” of an enterprise is no longer perceived solely through its financial performance, but also through its care for the environment, the local community, customers, employees, and shareholders. The assessment of all these aspects makes it possible to determine whether a company operates within a sustainable development framework.
The ESG risk assessment takes into account factors such as: compliance of business activities with environmental protection laws, whether the activity leads to environmental pollution, observance of employee rights, potential negative impact on local social relations, the existence of corruption processes, and the protection of customer data, etc.
In accordance with the new principles, the Bank does not finance clients if it identifies risks in these areas and assesses them as critical, i.e. risks which, as a result of their materialisation or disclosure, may lead to a loss of creditworthiness or may negatively affect the Bank’s reputation.
This approach is reflected in the provisions of the applicable Credit Risk Management Policy, which states that in the area of lending, the Bank undertakes activities supporting the achievement of global objectives aimed at limiting the impact of climate change, while being fully aware of the need to take environmental, social, and corporate governance factors (ESG factors) into account in its approach to risk management and capital allocation.
-
As a listed company, Bank Ochrony Środowiska S.A. attaches great importance to conducting its business in a sustainable and ethical manner, considering these factors as the most important principles of its operation, which stem directly from the bank's mission.
The Bank, as an institution of public trust, operates in accordance with applicable legal regulations, best market practices and this Code of Ethics. The Bank also complies with the "Principles of Good Banking Practice" adopted by the Polish Bank Association.
The Code of Ethics is a set of rules followed by all employees in the performance of their duties and describes the related basic principles of cooperation with business partners and contractors.
-
The Bank operates in accordance with the rules laid down by the Supervisory Board for granting credit facilities, cash loans, bank guarantees, sureties and other commitments to:
- Members of the Bank’s governing bodies, persons holding managerial positions at the Bank, and entities having organisational or equity links with such members and persons;
- Subsidiaries and associates of the Bank, shareholders of the Bank, entities with equity or organisational links with the Bank’s shareholders, employees of the Bank, and at their request.
In accordance with the rules referred to above, lending products provided to such persons and entities should be granted on an arm’s length basis, with their creditworthiness assessed in accordance with the standard methods applied by the Bank. Decisions on granting financing, depending on the applicant and the amount of exposure, are made by the Bank’s Management Board and Supervisory Board by secret vote without the participation of the person concerned. Such transactions should be subject to obtaining prior opinion of the Bank’s Credit Committee, with the decision also made by secret vote.
-
Bank Ochrony Środowiska S.A., in line with its previous practice, continuously and systematically pays the utmost attention to protecting and securing the data it processes. With utmost care, the Bank has implemented and continues to improve organisational and technical security measures corresponding to the best market standards, adequate to the risks related to the processing, in particular such as loss of confidentiality, integrity or availability of data.
Access to personal data shall be granted only to specifically authorised bank employees who have been trained in the safe processing thereof. Data processing takes place in a safe and business continuity resistant IT environment and in properly secured bank facilities.
The Bank also protects the information held on the basis of separate provisions of generally applicable law, including those concerning the obligation to keep bank secrets, confidential information or secrets of third parties.