KRUK Group’s roadmap to carbon neutrality

Environmental impact risks primarily relate to the Group's potential negative effects on the environment and climate through its own operations, the products and services it provides, including project financing and management of climate risks, which could be transformational for the Group. Understanding its environmental impact and stakeholders' expectations, the KRUK Group has decided to define its environmental objectives and incorporate them into its Environmental, Social, and Governance (ESG) strategy, which is part of its business strategy. The objectives are based on the UN Sustainable Development Goals and on the European Green Deal.

In line with the Scope 1 and Scope 2 guidance of GHG Protocol, an action plan has been implemented in each country where the KRUK Group is present to achieve 70% reduction in carbon emissions by 2040, including by improving the efficiency of the car fleet, using renewable energy sources, and cutting energy consumption in office buildings.

Given the new obligations imposed by the Corporate Sustainable Reporting Directive, the KRUK Group intends to meet the Scope 3 objectives of GHG Protocol with respect to its business model and include its value chain in the calculations.

As part of its ESG strategy, by 2026 the Group plans to begin reporting emissions for each of its main business processes.

In order to achieve all of its strategic environmental objectives, the KRUK Group has committed to continuously raising the awareness of its employees, suppliers and the public in the area of environmental protection and protecting and improving the condition of the natural environment.

At this time, no balance sheet items have been identified whose valuation would be significantly affected by the analysed climate risks. Climate risks and opportunities will be defined in 2023 in accordance with the TCFD standard.


We monitor and reduce our environmental footprint

[GRI 103-1, 103-2, 103-3 Aspect: Energy, emissions]

At the KRUK Group, we recognise how important it is to act on your promises. Therefore, we have started with ourselves to drive environmental change. We have reduced our environmental footprint by rolling out both small and major improvements across the organisation, which, put together, make a big difference.


Carbon Footprint

Scope 1 and 2 emissions were calculated according to the following standards: The Greenhouse Gas Protocol A Corporate Accounting and Reporting Standard Revised Edition, GHG Protocol Scope 2 Guidance. Scope 1 includes combustion of gasoline and diesel oil in company cars, combustion of natural gas, and consumption of refrigerants. Scope 2 includes consumption of electricityand heat.

KRUK is committed to reducing its environmental impact. The development of digital services has enabled us to save more than half a million sheets of paper in 2022 alone. In addition, we have reduced CO2 emissions by more than 100 tonnes through the use of renewable energy sources. Our offices in Wroclaw, Pila, Szczawno, Bucharest, Madrid and Milan have RES energy guarantees.

At the KRUK Group, we know that both financial debt and environmental debt have one thing in common: excessive consumerism. Buying unnecessary things can get many people in dire straits, and it certainly does lead to environmental debt. We believe it takes responsibility to successfully tackle both economic and environmental debt. To that end, since 2019 we have worked to raise awareness of ecological debt and put the spotlight on curbing overconsumption as a key countermeasure.

Every year, we remind the public of the Environmental Debt Day through press releases concerning the consequences of excessive consumerism among Poles. Our environmental message has reached over 31 thousand unique users. In the runup to the event, we conducted a survey – ‘Economic and Environmental Attitudes among Poles 2022’12. Based on the findings, as many as 83% of the respondents believe that Poles need environmental education. However, most people are not aware of how quickly we overshoot the Earth’s resources for a year. In 2021, a staggering 75% of the respondents believed that the resources generated by theEarth in a year sufficed for at least five years.

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