-
2-9
-
2-12
-
2-14
-
3-3
ESG Management Objectives
The key performance indicators of the ESG Strategy have become an integral part of the PZU Group’s business strategy, and the ESG goals have been added to the objectives of the Management Board. The Shareholder Meeting authorized the Supervisory Board to detail the management objectives assigned annually to the members of the Management Board, and to determine the weights for these goals, and the objective and measurable indicators for their implementation and accountability (KPIs), which are the basis for the amount of variable compensation. In connection with the adoption of the ESG Strategy, the general management objectives related to improving economic and financial indicators were expanded to include activities that take into account social interests, including those which allow the Company to contribute to environmental protection. Variable compensation of Management Board Members depends on the attainment of management objectives, determined every year by the Supervisory Board, and may not exceed 100 % of the annual fixed compensation of Management Board Members from the previous year for the calculations of the due variable compensation are made.
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2-17
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2-14
Sustainable Development Department
ESG Committee – since 2021, PZU has the ESG Committee
To define consistent ESG actions in line with the PZU Group strategy.
- supervision over the consistency of ESG activities with the PZU Group’s business objectives;
- setting out general sustainability guidelines in the PZU Group;
- building recognizability of the ESG Strategy inside and outside the PZU Group;
- making recommendations on the implementation of the idea of sustainable development into the business practices of the Companies, and integrating business processes with ESG objectives, as defined in the ESG Strategy;
- monitoring, providing opinions on and reporting on the implementation progress of the ESG strategy;
- participation in the development and updating of the ESG Strategy;
- giving opinions on actions, plans and projects connected with the ESG Strategy implemented in the PZU Group and presenting these opinions to the relevant governance bodies of the Companies;
- giving opinions on the methods and directions of adapting the principles of the Companies’ business activity to ESG regulatory and reporting requirements.
During the meetings of the ESG Committee, members are informed about sustainable development. It particularly pertains to new laws, level of implementation of ESG indicators, and identification of gaps and recommended corrective measures.
Detailed principles of the ESG strategy implementation and cooperation among the Companies in this respect are defined in the internal Sustainable Development Policy. The Sustainable Development Policy in the PZU Group lays down the basic principles of conducting the PZU Group’s business responsibly, while taking into consideration environmental, social and governance factors. It also defines the principles of cooperation and information exchange in this area in the PZU Group.
President and Members of the Management Board of PZU, President and Members of the Management Board of PZU Życie, President of the Management Board of TUW PZUW, President of the Management Board of TFI PZU, President of the Management Board of PTE PZU, and in PZU and PZU Życie: Corporate Managing Director, PZU Group Corporate Managing Director, Managing Director on Regulations, Director of the Corporate Communication Office, Director for Investor Relations, Director of the Sustainable Development Department.