The Polish Corporate Treasurers Association (PCTA) held its 28th annual meeting in October in Józefów, near Warsaw, which focused on ‘green trends in financing’.
More than 100 PCTA members, partners, guests, and bank representatives gathered for the first time since the pandemic and livestreams were also available for those unable to attend.
The chosen topic was green finance. We are all aware of the importance of environmental protection and the wide range of green goals and challenges that companies and individuals should concentrate on, regardless of location, types of business and personal circumstances.
We are also aware that green issues can be seen as both a challenge and an opportunity for businesses.
The European Commission identifies three main actions for sustainable economic growth:
The task of the European Green Deal is to shape the economic policy of the European Union (EU) in such a way as to skilfully combine the goals of sustainable development with the wellbeing of society. Through the activities included therein, the EU will strategically support the implementation of the 2030 Agenda for Sustainable Development. In connection with the introduction of the European Green Deal, the need to redefine the current functioning of the social and fiscal policy may be a challenge.
We are seeing that investors now pay great attention to climate and social issues when making decisions regarding business operations. These include financing, the green elements of day-to-day functions such as marketing and business strategy, and policies relating to reducing energy consumption, eliminating plastic in the workplace, and customer service.
Banks are increasingly demanding to see environmental, social, and governance (ESG) issues addressed in project funding applications.
The meeting saw constructive discussion between members and bank representatives on the topics of green financing and ESG. Key points included:
The wide-ranging topic of the meeting created an avalanche of questions, so we will address these issues again next year, during which the PCTA will celebrate its 15th anniversary.
The whole year will be dedicated to celebrations and events held to share treasury knowledge and support the PCTA community, through participation in sports and social activities. Green topics will continue to be a theme at PCTA events for some time to come.
By Aleksandra Filipowicz, Secretary, EACT and Board Member, PCTA