We care about the environment

Natural environment is our common future and at the same time our common responsibility. ING Bank Śląski Group as one of the leading financial institutions in Poland has significant influence on many economic processes and individual choices. Today’s decision shape our future, that is why we try to minimize trace left by our activity in the environment and at the same time help our Clients in energy transformation and transition to low carbon solutions.
Buildings are responsible for around 40% of energy usage in EU and generate 36% of total CO2  emissions, 35% of buildings was built more than 50 years ago and 75% is energy inefficient. European buildings sector has significant potential in terms of energy efficiency improvement and stepping on gradual decarbonization path is a requirement which we need to face today.

Our strategy

By taking part in Group’s long term strategy, ING Bank Hipoteczny prepared Green Covered Bond Framework – document which presents our commitment to investors in terms of use of proceeds related to covered bonds issuance. In line with this document proceeds from issuance will be used to finance or re-finance real estates which belong to top 15% most energy efficient buildings in Poland (for additional information please see Green Covered Bonds Framework). Criteria for energy efficiency evaluation were developed by German consultant Drees & Sommer. Our approach is based on international standard, assuring transparency and high quality of information for investors which was developed by International Capital Markets Association and presented within Green Bonds Principles. In line with this standard our Framework consists of four main blocks:

  • Use of proceeds
  • Process for project evaluation and selection
  • Management of proceeds
  • Reporting

Our Framework was evaluated by one of the leading ESG rating agencies ISS – oekom who issued Second Party Opinion – document confirming compliance with highest market standards. In its opinion ISS – oekom pointed positive impact of the Bank’s approach on two areas defined by United Nations within Sustainable Development Goals (UN SDGs).

We have also received certification by Climate Bonds Initiative – international organization which based on rigorous criteria evaluates if financial instrument contributes to the 2 degrees Celsius warming limit in the Paris Agreement. Climate Bonds Initiative certification is widely used by stakeholders to evaluate if financial instrument addresses climate changes.

Proceeds from Green Covered Bonds issuance will be used to finance ecofriendly projects. In line with calculations by external consultant mortgage portfolio in ING Bank Śląski Group allows yearly CO2 reduction by around 240 thousand tons. This amount is equal to yearly emissions by 52 thousand cars. In order to absorb this amount of CO2 11 million trees would be required. As a result, it already today can save over PLN 26 million in costs for the purchase of CO2 emission certificates throughout Poland.

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