At the end of February, we published the Management Board Report on Performance of mBank Group in 2024, Chapter 10 of which is focused on sustainable development.
This is the first report that we have prepared in accordance with the Corporate Sustainability Reporting Directive (CSRD). We are proud to present the progress of our strategy in the environmental, social and corporate governance dimensions, also highlighting the biggest challenges.
Sustainable development is a key component of a strong, competitive and modern economy. As one of the largest financial institutions in Poland, we engage financial and intellectual capital, as well as technology to support our clients in their activities on the path towards sustainable development. We make every effort to ensure that mBank Group is a safe and inclusive workplace where our employees feel appreciated and are offered equal opportunities for professional development. We have based our organizational culture and operations on the principles of corporate governance that takes into account the issues of sustainable development. The double materiality assessment process carried out in 2024 helped us to better understand not only how the external environment affects us and what risks and opportunities this generates for our business, but also what impacts our operations have on the Group's key stakeholders and the natural environment.
We encourage you to read the report, from which you will learn, amongst others, that:
We finance environmentally sustainable projects. mBank's portfolio of investments in renewable energy sources reached PLN 4.8 billion, and under the current strategy we have already provided PLN 7.6 billion of sustainable financing, additionally mobilising PLN 8.5 billion of capital on the financial market. Sales of mortgages on properties with low energy demand (NZEB-10% standard) increased in 2024 to over 13% of the total volume of mortgage loans. mBank Group's Green Asset Ratio (GAR), calculated as part of the disclosures of the EU Taxonomy, is one of the highest in the sector!
We calculate the carbon footprint of our Scope 1, 2 and 8 out of 15 Scope 3 categories. We were the first bank in Poland to set science-based decarbonisation targets using the Science-Based Targets initiative (SBTi) methodology.
From 1 January 2025, as many as 50% of investment solutions offered by mTFI promote environmental or social aspects.
Women account for 37.5% of the management bodies of mBank Group's main subsidiaries and 53% share in the succession programme.
In June 2024, together with the United Nations, as part of the UNEP FI initiative, mBank announced the goal of increasing and maintaining the financial resilience and well-being of Poles by supporting the management of expenses and building a financial cushion. The goal by the end of 2025 is to increase to minimum 50% the share of customers who believe they are financially resilient. In 2024, we achieved it by reaching 54%, leveraging the Personal Finance Manager (PFM) tool in our mobile application, which was already used by 1.92 million users at the end of 2024!
We are proud to remain a partner of the Great Orchestra of Christmas Charity (WOŚP) as a sponsor, as well as an institution providing financial support for fundraisers and the foundation itself.