Expectation Management

Millennium bcp maintains a close relationship with its Stakeholders, based on a clear and constructive dialogue, with the aim of identifying, managing and responding to their expectations, needs and ambitions.

The definition and monitoring of the material issues valued by the Stakeholders has allowed the Bank to recognise its strengths and identify opportunities for improvement. This process is essential for the definition of the Sustainability strategy, materialised by the annual Sustainability Master Plan (SMP), which aggregates a set of lines of action and guides the actions to be implemented.

The definition of the areas of intervention of the SMP results from a balance between the material issues identified, the available resources and the economic and market context. Since 2023, Millennium bcp has integrated the Double Materiality Analysis into its expectations management model, aligning with the requirements of the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS).

This model considers:

• Financial materiality, which assesses the effects of Environmental, Social and Governance (ESG) factors on  economic performance and value creation for the Bank;
• Impact materiality, which analyses the effects of the Bank's activities on the environment, society and human righ.
  

Material issues identified include:

Material Topics

E1 Climate change

• Climate change adaptation
• Climate change mitigation
• Energy

S1 Own workforce

• Secure employment
• Working time
• Adequate wages
• Social dialogue
• Freedom of association
• Collective bargaining, including rate of workers covered by collective agreements
• Work-life balance
• Health and safety
• Gender equality and equal pay for work of equal value
• Training and skills development
• Diversity
• Adequate housing
• Privacy

S4 Consumers and end-users

• Privacy
• Access to (quality) information
• Protection of children
• Non-discrimination
• Access to products and services
• Responsible marketing practices

G1 Business conduct

• Corporate culture
• Management of relationships with suppliers including payment practices
• Prevention and detection including training
• Corruption and bribery: Incidents