In addition to the cyclical analysis of risks in particularly sensitive sectors, the Bank assesses ESG risks as part of the lending process to all corporate Clients. In 2019, a second line of CSR control was established in the CIB and Corporate Risk Division, which integrates the assessment of the occurrence of ESG risks in existing and potential Clients into the overall risk analysis of the Client’s business. If a high level of ESG risk is identified, the Client’s rating may be downgraded.
Regulatory risk, resulting from changes in the legal environment related to ESG strategy is also an important aspect for BNP Paribas Bank Polska S.A. The Bank monitors the work of supervisory authorities and legislative proposals in the financial sector on an on-going basis to ensure adequate risk management and control. The Bank recognises changes in the ESG area and accepts that they will have a significant impact on its operations.
BNP Paribas Bank Polska S.A. is aware that the European Union and the whole world are increasingly confronted with the disastrous and unpredictable consequences of climate change, depletion of natural resources and other issues related to sustainability development. This will mean that radical action will have to be taken also through the entities in the financial services sector. In the Bank’s opinion, sustainability development is the foundation for building a low-carbon economy, and the role of financial institutions in this process is of special importance.
BNP Paribas Bank Polska S.A. analyses the possible impact of climate change trends by identifying opportunities and threats to its business and development prospects. To this end, it has distinguished climate-related risks and opportunities in the short, medium and long term.
For more information, please refer to Environmental responsibility management.
The Bank has implemented effective systems of functional control, risk management, compliance supervision, as well as audit and internal control. The simultaneous functioning of all the above-mentioned elements enables the Bank to exercise constant and effective supervision in the area of anti-corruption. Since 2018, the Bank has had an Anti-Corruption Policy in place. As part of the anti-corruption process, the Bank monitors, inter alia: indicators on reported cases of fraud, identified conflicts of interest, accepted/transmitted gifts and invitations, due diligence in establishing relations with Clients/contractors/intermediaries, level of employee awareness. The Bank’s anti-corruption system is based on: