Millennium improved its assessment in the Carbon Disclosure Project (CDP) for 2020, returning to the "A-" score and to the "Leadership" performance rank, one of the 35% of companies with the best score on the global level (the average score for Europe's financial sector is "C").
This assessment, which reflects Millennium's environmental performance and the way it manages its carbon footprint – considering all Group's geographies and analyzing dimensions like "Emissions management", "Governance and Strategy" and "Risk and Opportunities management" - should be seen in a context where most companies and banks have been adopting consequential strategies to ensure continuous reduction of greenhouse gas emissions, and incorporating environmental principles into value propositions and decision processes.
For Millennium to continue its evolution and reach the goal defined for this annual assessment – that is, to join the "A List", which recognizes the global highest ranked companies - the Sustainability Master Plan (SMP) 2021 includes three specific items that will enable us to (i) deepen the knowledge about our carbon footprint; (ii) redefine emission reduction targets according to the Science Based Targets Initiative; and (iii) implement the recommendations of the "Task Force on Climate-related Financial Disclosures" (TCFD), particularly in lending and investment practices.
CDP is one of the most reputable, credible and audited organizations within the ESG analysis, essential in evaluating firms' environmental profile and, together with the Dow Jones Sustainability Index and MSCI, includes the ESG performance indicator, external and independent, defined and approved for Millennium bcp.
Millennium Group environmental performance...
It is within this context that Millennium regularly monitors a range of environmental performance indicators that measure, in all geographies, the bank's eco-efficiency and its main consumption.
In our operation in Portugal, the amount of CO2 emissions was reduced by 45.6% in 2020 compared with the baseline in 2012, while for the Millennium Group as a whole the aggregate value is of -29%. These results reflect the alignment of the Bank's consumption profile and of its credit and risk policies with Portugal's and the European Union's goals of achieving carbon neutrality by 2050 and the intermediate targets defined for 2030, as well as the Paris Agreement goals.