CSR Strategy [IIRC]

The actions taken in this area concentrate on formulating the CSR policy within the PZU Group, defining objectives and strategic metrics and tending to the active and factual implementation of planned efforts.

Governance initiatives call for coordinating ventures and duties discharged by all the PZU Group companies. Every year the “PZU Group’s non-financial report” is drafted. Its membership in the Respect Index, a stock index consisting of companies espousing corporate social responsibility, since 2012 also makes it possible to render an accurate and objective evaluation of the Group’s CSR activities.

The Group’s ambition is to ensure efficient and comprehensible internal communication regarding CSR-related values, objectives and practices. This should provide for appreciation of the planned activities and support from persons and units guaranteed in the execution of the CSR Strategy.

Its result was lower than the average result in the financial industry. Among other things, this was the result of greater pressure on reporting at the Group level, i.e. including Bank Pekao and Alior Bank. Efforts will be taken in 2019 to streamline communication, thereby making it possible to report the required data to a broader extent.

The PZU Group is striving to be the best employer on the markets where it renders services. Its objectives are as follows: being in the leadership position among the financial industry comapnies most frequently selected by people looking for employment, engaged and top of class staff on the market and maintaining a low level of turnover among the organization’s top talents.

To achieve these goals the PZU Group:

• offers transparent development paths,
• facilitates employee development,
• advances entrepreneurship, innovation, team work and instils better quality in organizational culture,
• tweaks processes related to counteracting employee attrition,
• develops a program to retain key employees, offers a friendly environment and atmosphere and development opportunities, while at the same time guaranteeing respect for life-work balance.

The commitment index rose 5 p.p. in 2018 to 40%. The participation ratio was 73% (52% in 2017).

The risks inherent in PZU’s business are covered by the risk management system established on the basis of the following four levels of authority: the Supervisory Board, the Management Board, Committees and the operational level.

A detailed description of the approach to risk management has been provided in the section Ethics - risk management giving consideration to non-financial risks. 

As at 2017 (last available data).

PZU has an awareness of its material impact on the procurement market and its responsibility for shaping the top business standards. The PZU Group companies advance the idea of corporate social responsibility in relations with their suppliers, cooperating only with business partners who observe human rights and act in compliance with legal regulations, in particular with regard to the prevention of corruption. They also expect their partners to provide safe and dignified work conditions, apply the highest ethical standards and care for the natural environment.

The “Code of CSR Best Practices for PZU’s Suppliers” was prepared.

Preparations were underway in 2018 to implement a new procurement platform that, according to the assumptions underpinning the CSR strategy, will incorporate the necessity of affirming the obligation to abide by the “Code of CSR Best Practices.