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Exposure to the ESG risk of the Polish banking sector

Pyka Irena, Nocoń Aleksandra

Economics and Environment

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2024

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No. 1

art. no. 701

EN

The main aim of the article is to explore changes taking place in ESG risk management in the Polish banking sector. The following research methods were used: in-depth literature studies, desk research methods, questionnaire survey methods, case study analyses, and observation and synthesis methods. The article verified the adopted research hypothesis, stating that knowledge and awareness of the importance of ESG risk in commercial banks in Poland increased, which is reflected in practical activities related to their bank risk management systems. The research that was conducted showed that Polish banks are increasingly aware of the ESG risk and the need for their inclusion in risk management processes. This inclusion takes place through various channels. However, an important aspect of this system is the assessment of banks' exposure to ESG risk. Commercial banks in Poland use mainly qualitative methods, although they also recognise quantitative ones to measure the scale of ESG risk taken.

PL

Celem głównym artykułu jest eksploracja zmian zachodzących w zarządzaniu ryzykiem ESG w polskim sektorze bankowym. W jego realizacji wykorzystano następujące metody badawcze: pogłębione studia literaturowe, metodę desk research, metodę badań kwestionariuszowych, analizę case study, metodę obserwacji oraz metodę syntezy. W artykule weryfikowano przyjętą hipotezę badawczą głoszącą, iż wiedza i świadomość dotycząca znaczenia ryzyka ESG w bankach komercyjnych w Polsce wzrasta, co ma swoje odzwierciedlenie w praktycznych działania związanych z systemami zarządzania ich ryzykiem bankowym. Przeprowadzone badania wykazały, iż instytucje polskiego sektora bankowego są coraz bardziej świadome istoty ryzyka ESG oraz potrzeby ich inkluzji do procesów zarządzania ryzykiem. Włączenie to odbywa się różnymi kanałami, jednakże ważnym aspektem w tym systemie jest ocena ekspozycji banków na ryzyko ESG. Obecnie banki komercyjne w Polsce dokonują tego głównie w sposób jakościowy, chociaż rozpoznają również ilościowe metody pomiaru skali podejmowanego ryzyka ESG.

2

Corporate green investment imperative and risk of a credit crunch in Poland

Pyka Irena, Pyka Jan

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2021

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z. 154

233--248

EN

Purpose: The main subject of the article is a phenomenon that is increasingly common in countries of the global economy referred to as the so-called credit crunch. The study analyses the reasons that favour the escalation of risk of a credit crunch in the banking systems. The main objective of the article is to expose them as widely as possible, combining it with verification of the determinants of a credit crunch. Design approach: The empirical research conducted in this study focuses on the Polish banking system. For the first time the credit crunch was observed there in the second half of 2008. It was then that lending to households decreased by 25% and to enterprises by as much as 33%. In the Polish banking system, a drop in the volume of loans to enterprises has been observed for a long time, favouring the increase in risk of a credit crunch. Findings: The article evaluates the potential risk of a credit crunch in the Polish banking system pointing out their links resulting from the implementation of the new climate policy in the European Union as well as the COVID-19 pandemic. This is caused by the fact that during the COVID-19 crisis, credit rating of Polish enterprises decreased significantly, causing partial restrictions or even elimination of bank loan in industries threatened by the crisis. Research implication: The Polish economy is facing a significant challenge of meeting the EU criteria for limiting CO2 emissions, which will force domestic enterprises to invest considerably in environmental protection and will increase their demand for debt financing, including bank loans. Banks are preparing for green lending to the Polish economy which signifies a strong transition of loans to investments which meet the taxonomy criteria and are therefore subject to climate objectives. Practical and social implication: Industry risk will determine lending of Polish enterprises under the conditions of the European Green Deal. Green financing of investments of Polish enterprises is therefore becoming a significant potential cause of increasing risk of a credit crunch in the Polish banking sector. Originality/value: Presentation of the enterprise credit dilemmas in the conditions of financial instability of the global economy in the perspective of credit-crunch in Poland is a novel, original and contemporary subject. The diagnosis of the determinants of this threat has facilitated their positioning relatively to the risk of credit-crunch in the Polish banking sector. The results of this analysis underline the risks in this sector and the consequences of introducing European taxonomy of green investments as factors limiting credit actions and enterprise credits in banks.

3

The concept of sustainable finance of enterprises versus venture capital

Pyka Irena, Pyka Jan

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2020

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z. 147

223--236

EN

Purpose: The article refers to actions undertaken by the global environment1 in the 21st century in favour of sustainable development, basically concentrating on the agreement defined as sustainable finance, the assumptions of which appeared as a result of the Climate Summit in Katowice in 2018. The principal objective of the article is to expose the interdependencies that result from the assumptions of sustainable finance and venture capital, which have been increasing after the global financial crisis, due to strengthening of financial stability as a social good of the contemporary global economy, based on sustainable development formula. Design/methodology/approach: The realisation of this objective encompasses several grounds. The first concerns facultative financing of the effects of risk in enterprises and public organisations. The second relates to identification of venture capital in credit and insurance institutions, as well as investment companies. The third one, however, focuses on principles and instruments for financing sustainable investments outlined in the concept of sustainable finance. Findings: It is indicated in the study, that venture capital in the EU economy increases mainly as a result of rigorous regulatory discipline in financial institutions and the concept of sustainable finance will strengthen the observed trend. Originality/value: The paper contains analysis, which should be of great value for academics and practitioners, especially for those who occupy managerial positions.

4

Security management of systemically important banking institutions inside the European Union financial market

Pyka Irena, Pyka Jan

Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska

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2019

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z. 136

495--510

EN

This paper is focused on the problems related to activities of systemically important banking institutions. After the global financial crisis, these institutions were held responsible for the escalation of systemic risk in the international economy. The paper analyses how both the supervision and the regulatory tools that are used in European Union countries to deal with formally identified systemically important institutions have changed. The direct goal of the paper is to identify the specific features of the new regulatory order with regard to global and other systemically important institutions that operate in the European Union. The results of the analysis indicate that the extension of the extent of supervision over activities undertaken by these institutions and the introduction of new prudential regulations, including resolution regimes, do not guarantee the security and the stability of European Union’s financial market. Keywords: global banks, systemically important financial institutions, systemic risk, banking union, Single Supervision Mechanism (SSM), European resolution regime – SRM, MREL, TLAC