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Interactive navigation is a tool that goes beyond the standard navigation of the integrated content (available in the report drop-down bar). New approach allowed to navigate in the two additional business dimensions of the PZU Group, i.e .:
  • strategy (insurance, health, investments, finances);
  • sustainable development (sales, employees, social responsibility, natural environment and ethics).
The above-mentioned areas were additionally supplemented with related GRI indicators, within each selected issue.
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List of GRIs

Approach to reporting (materiality index)

PZU AR 2021 > About the report > Approach to reporting (materiality index)
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[GRI 102-50]

The PZU and the PZU Group’s Integrated Report contains data for the period from 1 January 2021 to 31 December 2021. The information presented in this report is to help readers understand better, improve the results in respect of ESG strategy execution and cultivate long-term relations with key stakeholders.

[GRI 102-54]

This report has been prepared in accordance with the amended Accounting Act of 29 September 1994 and its requirements pertaining to non-financial reporting. This report is a report on non-financial information of the kind referred to in Article 49b of the Act. Substantive hints on defining the scope and content of this report were also provided by international guidelines and standards, among others, the international reporting standard of the Global Reporting Initiative (GRI Standards) - “Core” option (including the sector appendix to financial services), integrated reporting guidelines (International Integrated Reporting Council, IIRC), and guidelines of the European Commission on non-financial reporting with emphasis on reporting climate-related data and recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

The calculations of the carbon footprint in the climate area were made in accordance with the international GHG Protocol Corporate Accounting and Reporting Standard. This report also contains information regarding taxonomic disclosures according to the Commission Delegated Regulation (EU) 2021/2139 supplementing Regulation 2020/852 of the European Parliament and of the Council (EU). The facts concerning the PZU Group’s carbon footprint in 2020 and 2021 have been checked by an independent external company doing business as Bureau Veritas Polska Sp. z o.o.

[GRI 102-45]

In accordance with the requirements of the Accounting Act, the report on the PZU Group’s non-financial information in 2021 encompasses consolidated non-financial data pertaining to the PZU Group and its parent company PZU in line with the structure of the organization included in the Consolidated Financial Statements for the year ended 31 December 2021.

The data from PZU Życie, the Alior Bank Group, the Bank Pekao Group, LINK4, foreign entities (AAS Balta, AB Lietuvos Draudimas and PrJSC IC PZU Ukraine) and other consolidated companies in the Group are presented as information pertaining to the PZU Group. Moreover, Alior Bank and Bank Pekao have also published separate Group-level disclosures concerning their non-financial data.

The data published in the report span the year subject to reporting and the comparative period, i.e. the preceding year. To present the carbon footprint in accordance with the international GHG Protocol Corporate Accounting and Reporting Standard, 2018 has been treated as the base year.

[GRI 102-46] [IIRC] 

In line with the approach stemming from the principle of materiality, the various pieces of non-financial information have been presented to the extent necessary to evaluate the development, performance and standing of the PZU Group. Relatively less space has been devoted to smaller entities whose impact on the overall depiction of the PZU Group is minor or simply marginal.

When defining the substantive part of the report, in accordance with the international guidelines, a process comprising the following stages has been followed:

  • Identification – after analyzing the internal documents and external publications pertaining to the Group and press information of the companies, and a review of industry reports pertaining to sustainable development practices and trends, 42 key issues in corporate responsibility and the business conducted were identified; 

  • Prioritization – at the turn of December 2021 and January 2022 the Group’s stakeholders (retail investors, suppliers, clients, business partners, brokerage house analysts, representatives of non-governmental organizations and public institutions, representatives of central administration and Group employees ranging from senior management to lower levels – in total more than 100 people) took part in the survey concerning the significance of the issues included in the report on non-financial information. The survey results made it possible to establish priorities when selecting and determining the scope of the content presented in this report; 

  • Validation – PZU Group representatives participated in drawing up the final list of priority issues while identifying the significance of the areas from the view point of risk in doing business and executing the strategy.

[GRI 102-47] [GRI 103-1]

Topics identified as being significant

The findings of the questionnaire have been presented on the significance matrix below. The X axis presents the significance of topics from the governance perspective identified by the Management Board and senior managers. The Y axis presents topics selected by the Group’s other stakeholders. Based on the results of the analysis of the survey, the identification of key issues and their prioritization, 12 significant topics from 4 areas (environment, social commitment, responsible governance and employee issues) were defined.

I. Environment

1. Company’s response to the challenges related to climate change and reducing the adverse environmental impact, initiatives and environmentally-friendly measures undertaken;

7. Incorporating environmental aspects when designing new products, environmentally-friendly products;

10. Green office: initiatives, effects, internal ecological culture of employees.

II. Social commitment

11. Advancing an active and healthy lifestyle, preventive activity;

12. Prevention activities in safety and cooperation with rescue services;

17. Commitment to fighting the COVID-19 pandemic;

19. Impact exerted by products and services to enhance the quality of life (e.g. support for injured parties in accidents).

III. Responsible management

21. Plans and strategy for the future, incorporating sustainable development issues (ESG);

27. The PZU Group’s business performance and market position.

IV. Employee issues

34. Headcount structure, equal pay, headcount turnover, conditions of employment and labor conditions;

36. Education and development of employees at various levels - offering development opportunities, training, education co-funding;

39. Initiatives aimed at prevention of discrimination and mobbing.