Climate protection is a vital component of our business strategy. Science Based Targets initiative (SBTi) will check whether our decarbonisation pathway is in line with scientific evidence regarding global warming. By joining SBTi, we undertook to develop within two years a decarbonisation pathway for the following 5-15 years.

The action plan which we are developing will support the goals of the Paris Agreement. This means that the carbon footprint reduction trajectory of mBank and its borrowers will be commensurate with the rate which needs to be maintained globally in order to limit climate warming to 1.5-2°C. SBTi will verify if our decarbonisation pathway is in line with these assumptions.

By joining SBTi, we once again display our commitment to climate protection. Earlier, we announced that we will achieve net climate neutrality in scopes 1 and 2 by 2030 and net-zero emissions by 2050.

We focus on green investments

We believe our biggest impact on the climate is through our lending. This is why we focus on green investments and lead in funding renewable energy sources. Moreover, our credit policy forbids funding the construction and development of coal or lignite mines as well as power plants that use these raw materials. We support our clients in their decarbonisation efforts and add new “green” banking products such as eco-friendly loans to our offer. Climate protection is a key component of our business strategy.

Science Based Targets initiative

SBTi is a leading global imitative that helps companies set ambitious science-based decarbonisation goals. It supports businesses around the world in reducing their greenhouse gas emissions with the goal of halving them by 2030 and bringing them to net-zero by 2050. The SBTi is a partnership between CDP, UN Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).

Other environment-related organisations and initiatives which we joined include:
 

• UN Global Compact (United Nations Global Compact, UNGC) – UN’s initiative working towards the implementation by business of the ten universal principles concerning human rights, labour, environment, and anti-corruption and promoting UN’s 17 sustainable development goals (SDGs). With more than 12,000 companies and 3,000 non-business signatories based in over 160 countries as well as 69 local networks, the UNGC is the world’s largest corporate sustainable development initiative (https://www.unglobalcompact.org/).
• Principles for Responsible Banking – we are a member of UNEP-FI, the United Nations Environment Programme’s Finance Initiative, and a signatory to the Principles for Responsible Banking. We were the first Polish bank to join this initiative. By signing the principles, we committed to support the UN’s sustainable development goals and the Paris Agreement (https://www.unepfi.org/banking/more-about-the-principles/).
• PCAF (Partnership Carbon Accounting Financials) – a partnership of banks that developed methods for measuring the carbon footprint of loan and investment portfolios (https://carbonaccountingfinancials.com/about)