ESG in the investment activity of Millennium TFI and Millennium DM
Millennium TFI and Millennium Dom Maklerski, members of the Bank Millennium Group, have published a strategy governing the integration of sustainability risks in their investment decision-making process. This is the first step in ensuring compliance with the provisions of Regulation (EU) 2019/2088 of the European Parliament and of the Council on sustainability-related disclosures in the financial services sector (Sustainable Finance Disclosure Regulation, SFDR), applicable since 10 March 2021 to all financial institutions operating in the European Union.
The new regulations are aimed at ensuring that investors are provided with universal access to reliable, detailed and comparable data. A stimulus for the enactment of the SFDR and the integration of risks related to the environmental, social and corporate governance (ESG) aspects of business in the financial sector was provided by the Paris Agreement under which 190 countries, including the European Union and its Member States, undertook to pursue joint efforts aimed at counteracting adverse changes, and the proclamation in 2019 by the European Commission of the so-called Green Deal, comprised of initiatives focused on reducing greenhouse gas emissions, rolling out a circular economy, protecting and regenerating wildlife, etc.
In accordance with the SFDR, financial market participants and financial advisers are required to specify in their strategies how they integrate sustainability risks in their business, which mean environmental, social or governance events or conditions that, if they occur, might cause a negative material impact on the value of the investment.
Millennium TFI and Millennium Dom Maklerski have posted information on their strategies adopted in the investment decision-making process and the consequences of investment decisions on sustainability factors on their respective websites:
- Information from Millennium Dom Maklerski
https://millenniumdm.eu/podstawowe-informacjelink opens in a new window - Information from Millennium TFI
https://www.millenniumtfi.pl/dokumenty/id/9.htmllink opens in a new window
The Bank Millennium Group attaches great significance to ESG aspects of its business as they form an integral part of the Group’s strategy. The Bank Millennium Group’s ESG report containing a description of the initiatives pursued in 2020 was published on 22 February 2021 as the 15th annual non-financial report issued by the Group. Since 2010, Bank Millennium has been included in the Warsaw Stock Exchange’s index composed of companies fulfilling the highest standards of corporate social responsibility. In 2010-2019, the Bank was included in the Respect Index, and since 2019 it has been incorporated in the WIG-ESG index, which is created by attaching additional weights to companies in the form of an ESG rating issued by the global ratings firm Sustainalytics and by conducting a corporate governance assessment by the Warsaw Stock Exchange.
Author:
Bank Millennium
Last Updated on March 18, 2021 by Karolina Ampulska