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Poland REFF - SCB



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

06 Sep 2022



PSD disclosed:

27 Jul 2022

Project Description

The provision of a senior loan of up to PLN 350 million (€ 74 million equivalent) to Santander Consumer Bank S.A. (SCB) under the Poland-Residential Energy Efficiency Facility (REEF) framework. The loan will be complemented by a comprehensive Technical Cooperation support package. Santander Consumer Bank S.A. will on-lend the EBRD funds to retail customers to finance eligible energy and resource saving projects in residential buildings in Poland.

Project Objectives

The project will promote investments in energy efficiency measures in residential buildings through one of the leading consumer finance banks in Poland, contributing to energy savings and CO2 emission reductions. This will also contribute to addressing the vital issue of air pollution in the country, whereby Poland exhibits one of the highest air pollutions in Europe due to the reliance on coal.

Transition Impact

ETI score: 80

ETI score: 80

The expected transition impact stems from the green and competitive transition qualities:

  • Green: The project will promote the Green transition in Poland and will support the EBRD's GET approach in the country through facilitating energy efficiency investments in the residential sector.
  • Competitive: The project will facilitate knowledge building and improved market standards in the area of green residential lending through facilitating Best Available Technologies among sub-borrowers.

Client Information


SCB is a medium sized bank, focused on retail clients, 60 per cent owned by Santander Bank Polska and 40 per cent by Santander Consumer Finance.

EBRD Finance Summary

PLN 350,000,000.00

Total Project Cost

PLN 350,000,000.00


The project demonstrates strong additionality by (i) providing dedicated financing to an underserved segment of the market in Poland; (ii) providing expertise, knowledge and capabilities through dedicated TC package, (iii) helping SCB achieve higher standards through the green technology selector, compatible with the ambitious governmental Clean Air Priority Programme ("CAPP").

Environmental and Social Summary

Categorised FI (2019 ESP). The Environmental and Social (E&S) Due Diligence was done in-house and included a review of the E&S Questionnaire and follow-up questions. ESG responsibilities at SCB are allocated to the Strategy Manager. Two policies are in place: Policy of Financing of Sensitive Sectors (2019) and Policy of the Energy Sector (2019). These policies will have to be aligned with EBRD requirements. SCB confirmed compliance with the EBRD Environmental and Social Exclusion List. SCB's environmental reporting is included in the Annual Report of the parent company SBP (Santander Bank Polska).

SCB reported two past collective redundancies in 2021 (covering 430 and 340 people respectively) as a result from organisational changes, and confirmed that in both cases, an applicable agreement was concluded with the trade unions. No further collective redundancy is planned in the next year.

SCB will on-lend the proceeds of the Bank financing to sub-borrowers to finance GET eligible sub-loans (exclusively on activities in energy efficiency and renewable energy) to private individuals, based on the Green Technology Selector. The Project's use of proceeds may include solar sub-projects. Such sub-projects will be managed in line with 'The Proposed Management Approach for Solar Supply Chain Risk Management' (CS/FO/21-35) and any subsequent guidance developed under that approach. The GET share of this project is 100%.

The Client will be required to comply with the EBRD's Performance Requirements 2, 4 and 9, implement the EBRD's E&S Risk Management Procedure for Corporate, SME and Micro lending, and submit annual environmental and social reports to EBRD.

Technical Cooperation and Grant Financing

The Loan will be supported by the Technical Cooperation ("TC") package, funded from 2 sources, i.e. by the Taiwan Business-EBRD Technical Cooperation Fund and by the Polish Government through the EBRD-EU Special Fund, provided by a Project Consultant ("PC"). The PC role will be to maintain the advisory infrastructure to ensure distribution of dedicated financing to eligible sub-projects, accompanied by impact measurement and reporting, ultimately facilitating the demand for sustainable energy technologies and increasing potential outreach. 

Company Contact Information

Przemyslaw Tadrak
+48 71 358 97 51
Legnicka 48B 54-202 Wroclaw, Poland

PSD last updated

22 Sep 2022

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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