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Caixa Geral de Depósitos - Climate Change 2019

C0. Introduction

C0.1

(C0.1) Give a general description and introduction to your organization.

CGD mission and values:

Founded in 1876, Caixa Geral de Depósitos (CGD) is an exclusively public limited liability company whose shares belong to the Portuguese state. CGD’s mission consists ofmaking a decisive contribution to the development of the national economy in a framework of balanced evolution between profitability, growth and financial strength,accompanied by prudent risk management, to enhance the stability of the Portuguese financial system.

CGD’s activity and its employees’ conduct are governed by the following fundamental values: Trust, Profitability, Transparency, Integrity, Professionalism, Proximity,Responsability, Risk Culture and Rigor and Inovation.

CGD Group Structure:

CGD has direct and indirect equity stakes in a series of domestic and international companies operating in diverse sectors such as commercial baking, investment bankingand venture capital, assent management, specialised credit and real estate.

Through the implementation of the CGD 2017-2020 Strategic Plan agreed with the Directorate-General for Competition of the European Commission (DG Comp), CGD Groupcontinued to restrutucture its international presence in line with its strategic plan, focusing on geographies having strong relationships with Portugal.

Most of the information reported in this questionnaire is related to CGD's activity in Portugal given its relevance. However, is also reported data (especially GHG emissions),related to the activity of CGD in Brazil (Banco Caixa Geral) and Cape Verde (Banco Comercial do Atlântico and Banco Interatlântico) as it has been considered material overthe years. Acording to the Strategic Plan in progress with the DG Comp, some of the overseas banks are expected to be sold in the short term (e.g. Banco Caixa Geral -Brazil).

After the conclusion of the Strategic Plan, an analysis of CGD's new structure will be brought in place to identify relevant emissions that should be reported (scope 1, 2, 3).

Sustainability Strategy:

CGD generates value for its stakeholders by promoting sustainable management of its resources, based on ethical principles and economic, social and environmentalresponsibility.

Increasing the integration, loyalty and customer satisfaction by strategic objective associated with sustainable performance, CGD contributes to the social and economicevolution of citizens, families and companies and to the future of Portugal.

In 2018 CGD has developed a new Sustainability Strategy for the 2018-2020 triennium, aligned with the Bank's Strategic Plan, which establishes six (6) areas of structuralintervention - Affordable Business, Social Responsibility, Environmental Footprint, Ethics and Compliance, Risk Management and Stakeholder Engagement - as reflected inannual activity plans that continue the commitment and contribution to sustainable development , respecting the 10 Principles of the United Nations Global Compact and the17 Sustainable Development Goals.

C0.2

(C0.2) State the start and end date of the year for which you are reporting data.

Start date End date Indicate if you are providing emissions data for past reporting years Select the number of past reporting years you will be providing emissions data for

Row 1 January 1 2018 December 31 2018 No <Not Applicable>

C0.3

(C0.3) Select the countries/regions for which you will be supplying data.BrazilCabo VerdePortugal

C0.4

(C0.4) Select the currency used for all financial information disclosed throughout your response.EUR

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C0.5

(C0.5) Select the option that describes the reporting boundary for which climate-related impacts on your business are being reported. Note that this option shouldalign with your consolidation approach to your Scope 1 and Scope 2 greenhouse gas inventory.Operational control

C1. Governance

C1.1

(C1.1) Is there board-level oversight of climate-related issues within your organization?Yes

C1.1a

(C1.1a) Identify the position(s) (do not include any names) of the individual(s) on the board with responsibility for climate-related issues.

Position ofindividual(s)

Please explain

ChiefExecutiveOfficer (CEO)

The Chief Executive Officer chairs CGD's Sustainability Committee, which integrates the representation of the functional areas and organizational entities, national and abroad, associated with theimplementation of sustainability policies and strategy.

ChiefSustainabilityOfficer (CSO)

The Chief Sustainability Officer oversees CGD's sustainability activities, provides visionary leadership and coordinate with top management, shareholders, and employees to develop and maintainan effective corporate strategy for Sustainability. Part of the CSO's mission is to ensure CGD's Corporate Sustainability Strategy, subsequent policies, programmes, as well as to sponsor and pursuethe principles and commitments assumed by CGD, for the purpose of evaluation, audits and ratings, at a national and an international level. The CSO organizes the Sustainability Committee, thehighest level of responsibility for climate change related issues within the company. This committee is chaired by CGD's CEO. The CSO is also involved in the Environmental Management System(EMS) process, including discussions of the risks and opportunities presented by climate change. The CSO also represents CGD at international forums and Working Groups.

Other, pleasespecify(SustainabilityCommittee)

The Sustainability Committee has the highest level of responsability for climate change related issues within the company. This committee is organized by the Chief Sustainability Officer (CSO) andchaired by CGD´s Chief Executive Officer (CEO). The committee meets quarterly (or whenever deemed necessary) and reports directly to the Executive Board. The committee is responsible –among other issues – for supervising the progress and status of CGD’s Low Carbon Programme, as well as analysing and deciding upon new proposals regarding the company’s climate changeprogramme and its environment footprint. The committee’s responsibilities further entail the submission of proposals and budgets related with these initiatives to the Executive Board, where theseissues are further discussed before receiving formal approval.

C1.1b

(C1.1b) Provide further details on the board’s oversight of climate-related issues.

Frequencywith whichclimate-relatedissues areascheduledagendaitem

Governancemechanismsinto whichclimate-related issuesare integrated

Please explain

Scheduled– somemeetings

Reviewing andguidingstrategyReviewing andguiding majorplans of actionReviewing andguiding riskmanagementpoliciesSettingperformanceobjectivesMonitoringimplementationandperformance ofobjectivesMonitoring andoverseeingprogressagainst goalsand targets foraddressingclimate-relatedissues

The Board has oversight of climate related risks and opportunities through the Sustainability Committee. The Sustainability Committee includes two members of the ExecutiveCommittee, several top directors and responsible / representatives of the main sustainability projects in course. The functions of the Sustainability Committee are to strategically guidethe management and implementation models of the Corporate Sustainability Program, promoting the adoption of best practices and principles, local and international, to evaluateproposals for strategies and action plans arising from the Corporate Sustainability Program, including its integration into the organization's current and business activities. As anexample, was approved in 2018 at the Sustainability Committee, the revision of the CGD Low Carbon Program namely the establishing of new GHG emissions target until 2021 (43%less to 2015). This program materializes the strategy for climate change, aiming to contribute to the reduction of the environmental impact of its activities, promoting sustainabledevelopment while seeking to induce good practices among its stakeholders.

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C1.2

(C1.2) Provide the highest management-level position(s) or committee(s) with responsibility for climate-related issues.

Name of the position(s) and/or committee(s) Responsibility Frequency of reporting to the board on climate-related issues

Chief Sustainability Officer (CSO) Managing climate-related risks and opportunities Quarterly

Sustainability committee Both assessing and managing climate-related risks and opportunities Quarterly

C1.2a

(C1.2a) Describe where in the organizational structure this/these position(s) and/or committees lie, what their associated responsibilities are, and how climate-related issues are monitored (do not include the names of individuals).

Sustainability Committee

Where in the organisational structure that/those position(s) and/or committee(s) lies: The Sustainability Committee is organized by the Sustainability Area, included inthe Corporate Support Department (DSC) a top-level body of CGD's organic structure. This committee is chaired by the CEO.

What the associated responsibilites are: Contribute to the definition of CGD's vision and mission for Sustainability and subsequent strategic guidelines and activity plansfor the performance to be ensured through the Corporate Sustainability Program, which includes, at an environmental level, evaluating the activity and performance of theEnvironmental Management System, namely on the implementation of the Environmental Management Plan - compliance with objectives and targets, implementation ofplanned initiatives, monitoring the performance of environmental indicators and identification of environmental risks and opportunities.

Why responsibility lies that/those positions and/or committes(s): The scope of environmental issues, in particular the management of risks and opportunities, requiresthe collaboration of multidisciplinary teams. The sustainability committee includes the members responsible of areas such as Marketing, Brand and Communication, HumanResources Management and Development, Compliance, Risk, Organization and Quality, among others, depending on the agenda of each meeting.

Descriptin of position(s)/committess(s) specific climate-related issues monitoring process: Since climate issues are a relevant theme for CGD's Sustainabilitystrategy, a minimum frequency of two Sustainability Committees was defined per year although it has met in a quarterly basis. Nevertheless, the Committee can bescheduled whenever necessary.

Chief Sustainability Officer

Where in the organisational structure that/those position(s) and/or committee(s) lies: The function of Chief Sustainability Officer (CSO) has been created by theExecutive Comission and integrated into the Corporate Support Division (DSC).

What the associated responsibilites are: Officially represents CGD on Sustainability agenda and matters, assuming the Secretariat of the Sustainability Committee andaccumulating the management of the Sustainability Area. At the environmental level, it is important to highlight the position as head of the Environmental ManagementSystem and top management representative, which includes the management of the Low Carbon Program (revised in 2018).

Why responsibility lies that/those positions and/or committes(s): Since CGD Environmental Management System is a project based on a multidisciplinary team whoreports to the Chief Sustainability Officer, several internal areas and or teams of the bank end up being involved, such as: energy efficiency team, supplier management team,waste management team, safety team, human resources team, among others. In this way, all environmental critical themes are considered and monitored by the ChiefSustainability Officer.

Descriptin of position(s)/committess(s) specific climate-related issues monitoring process: Through reports, presentations and meetings all the key environmentalthemes, including the identification of risks and opportunities are addressed within the scope of the Environmental Management System with a minimum quarterly period. Asan example of this integration, CGD has initiated a reporting approach in line with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD)in its sustainability report 2018, presented to the CSO by the working group.

C1.3

(C1.3) Do you provide incentives for the management of climate-related issues, including the attainment of targets?Yes

C1.3a

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(C1.3a) Provide further details on the incentives provided for the management of climate-related issues (do not include the names of individuals).

Who is entitled to benefit from these incentives?Chief Sustainability Officer (CSO)

Types of incentivesRecognition (non-monetary)

Activity incentivizedEmissions reduction target

CommentThe Chief Sustainability Officer is the main responsible for the Sustainability Area of the Corporative Support Department, whose scope includes the management anddynamisation of CGD's Sustainability Strategy for the 2018-2020 triennium. As the third essential vector of the Sustainability Strategy, the "Environmental Footprint"represents a commitment to reduce the impact of CGD's activities on the environment and surrounding communities through the Low Carbon Program; the mitigation ofwaste and the optimization of the material, natural and energetic resources on a day to day basis, through the Environmental Management System (EMS); the eco-efficiency of the means and structures and the commercial realization of opportunities arising from the "circular economy". In this context, a set of KPIs has been developed,such as the definition of a new goal of greenhouse gas reduction (with methodologies aligned with climate science). The annual performance evaluation of the ChiefSustainability Officer turns out to be naturally associated with the performance of CGD's Corporate Sustainability Program, the EMS and encompassing the CGD ClimateChange Strategy.

Who is entitled to benefit from these incentives?All employees

Types of incentivesMonetary reward

Activity incentivizedEfficiency project

CommentThe INOVE Program, exclusively aimed at employees, challenges the participation and contribution to the construction of CGD's future, stimulating the creation andpresentation of original ideas innovative areas in areas of strategic interest. Some of the ideas submitted focused on the pendular mobility practices, namely theincorporation of electric vehicles in the CGD fleet and the dynamization of internal Carpooling platforms. The first edition, in 2018, had as its motto "cost reduction", withassociated premiums representing up to 4% of the amount related to cost reduction achieved.

Who is entitled to benefit from these incentives?Other, please specify ( Environmental Management System (EMS) Team)

Types of incentivesMonetary reward

Activity incentivizedEmissions reduction project

CommentIn 2018 the EMS team completed the review of the Low Carbon Program. As part of its Environmental Policy, the CGD Low Carbon Program responds to the challenges andopportunities arising from climate change and the need to adapt to their impacts to ensure the sustainability of CGD in the medium and long term. More stringent climatetargets and alignment with major international trends have been set, with a commitment to, among other things, reduce 43% of their GHG emissions (1 and 2) by 2021,compared to 2015 and in line with decarbonisation methodologies that contribute to the objectives of the Paris Agreement. The results achieved through the Low CarbonProgram are taken into account in the annual evaluation process of the environmental sustainability team members and consequently impact the monetary prizes to bereceived by each of the members.

C2. Risks and opportunities

C2.1

(C2.1) Describe what your organization considers to be short-, medium- and long-term horizons.

From (years) To (years) Comment

Short-term 0 2 e.g. CGD Environmental Management System ( evaluated yearly)

Medium-term 2 5 e.g. CGD Sustainability Strategy 2018-2020

Long-term 5 15 e.g. CGD Low Carbon Program (Emission redution target of scope 1 and 2: 43% until 2021, by 2015)

C2.2

(C2.2) Select the option that best describes how your organization's processes for identifying, assessing, and managing climate-related issues are integrated intoyour overall risk management.Integrated into multi-disciplinary company-wide risk identification, assessment, and management processes

C2.2a

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(C2.2a) Select the options that best describe your organization's frequency and time horizon for identifying and assessing climate-related risks.

Frequencyofmonitoring

How far intothe futureare risksconsidered?

Comment

Row1

Six-monthlyor morefrequently

>6 years Risks and opportunities related to climate change, perceived by CGD, have been part of the overall approach to governance and compliance short, medium and long term. Theassessment of corporate credit risk and project finance integrates environmental and social aspects. Project finance credit risk assessment includes a category of sustainability andsocio-environmental impact of the project, which analyzes different project finance intervention areas. Through its EMS, CGD assess environmental aspects, based on its potentialenvironmental impact on multiple domains of the environment (taking into account the severity and frequency of occurrence). In a long-term perspective, it is important to highlightthe revision of the Low Carbon Pogram as CGD's strategy for climate change. As an example of the results of this program, it is important to highlight the objective of long-termGHG reduction and the reporting of information according to the TCFD recomendations.

C2.2b

(C2.2b) Provide further details on your organization’s process(es) for identifying and assessing climate-related risks.

Assessment at company level

Under the ISO 14001:2015 standards, CGD evaluates the environmental aspects related to its activity, products and services. This evaluation is carried out jointly by amultidisciplinary team. The analysis of the environmental impacts is made taking into account the severity and the frequency/probability of their occurrence which results onthe risk of environmental impact. In addition are also considered filter criteria such as legislation and complaints/suggestions from stakeholders. In 2018, within the frameworkof the EMS and the revision of the Low Carbon Program, CGD adopted the methodology of the Task Force on Climate-related Financial Disclosure to assess climate-relatedrisks and opportunities having identified transitional risks (political and legal, market and reputational) and physical risks (acute and chronic). In addition to the identified riskswere also identified business opportunities related to resources efficiency, energy sources, products and services, markets and resilience. The results of this analysis as wellas the mitigation measures applied are presented annually to the Chief Sustainability Officer at the Management Review Meeting of the EMS and are reported on CGD AnnualReport (audited by external entity). At the supplier level, CGD has developed the Ethical Principles and Good Business Practices that promotes an environmentallyresponsible and socially responsible business policy, obliging its suppliers to comply with the law and implement best practices in these matters.

Assessment at the asset level

The direct environmental impacts of CGD are related to our services and offices in different countries. CGD monitors the consumption of water, energy, fuel consumption bythe fleet, consumption of materials and production of waste. The Real Estate, Purchasing and Services and Safety and Security Office work together with the Sustainabilityarea to monitor and evaluate the risks associated with activities and set targets to reduce emissions and improve Facilities efficiency. Every year, CGD develops simulationsto test the Internal Emergency Plan, namely the Evacuation Plan, the Safety Model (self-protection measures in the event of an earthquake or tsunami, measures to activatethe Emergency Management Office, operational action), and promote articulation with National Operation Comand Station which comprises civil defence agents.

Process for assessing the size and potential scope of identified risks

Under the EMS, the Sustainability team works together with different operational and management areas to update, every six months, the Environmental Aspects AssessmentMatrix that allows to assess the significance of the environmental impacts associated with the different activities developed by CGD. The evaluation reflected in the matrix iscarried out taking into account the severity and the frequency/probability of occurrence, which results in the risk of environmental impact associated with each EnvironmentalAspect.

Process by which your organization determines the relative importance of climate risks relative to other risks

As a Financial Institution, CGD initiates materiality assessment processes with its most relevant stakeholders (shareholder, clients, regulators, employees, media, suppliersand the community) in order to corroborate the predefined path or to realign with financial performance needs and/or expectations. This process allows the identification oftopics that will improve financial activities, positively influencing the brand's reputation and trust in CGD Group entities. CGD's materiality matrix has identified one of the 12high-priority themes in the business impact of climate change and energy transition as the integration of social, environmental and governance factors into credit analysis.

Risk terminologies used

In 2018 CGD adopted the recomendations of the TCFD to analyses climate risks, and the analysis carried out divides the risks as transition and physical, and the risksassociated with the transition to the lower-carbon global economy, which is subdivided into policy and legal actions , technology changes, market responses, and reputationalconsiderations. Physical risks are disaggregated into acute point events such as extreme weather events (cyclones, floods and fires) and in chronic events such as changesin precipitation and temperature. CGD also follows the EC work on the future taxonomy to be applied by the financial industry.

Considerable financial or strategic impact

In order to ensure a more efficient management of the financial and strategic impact of the credit concession and based on the existence of environmental risks that mayaffect CGD (Financial / reputational), CGD published in 2018 its Principles of Exclusion and Limitation that covers activities and projects excluded or restricted, under certaincriteria, from the credit policy, taking into account potential socio-environmental risks.

C2.2c

(C2.2c) Which of the following risk types are considered in your organization's climate-related risk assessments?

Relevance&inclusion

Please explain

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Currentregulation

Relevant,alwaysincluded

As a Financial Institution, regulation is a key factor. In the scope of the Environmental Management System, implemented and certified according to ISO 14001:2015, CGD annuallyperforms the Legal Compliance Assessment through the external service of the Institute of Welding and Quality that indicates which legislation is applicable to CGD and verifies itsfulfillment. This information is evaluated by the coordination team of the Environmental Management System, and if any type of action is to be delineated it can be reported to theSustainability Committee. CGD also has an Environmental Policy available to its stakeholders in physical support (counter service) and digital (website) that assumes three fundamentaldrivers: i) compliance with environmental legislation, ii) adoption of a proactive attitude and measures to prevent pollution, and iii) continuous improvement of environmental performance.In addition, CGD is part of several associations that allow the bank to access a set of relevant information related to regulation/legislation at environmental level, such as Smart WastePortugal - Association that aims to contribute to the production and dissemination of knowledge in the field of the waste area - which sends all its members a monthly summary ofenvironmental legislation. CGD's Risk Management applies environmental and social requirements in the assessment of customer credit and also have Principles of Exclusion or SectorialLimitation that determine CGD doesn't finance companies that may be linked to the production/trade of products or activities considered to be illegal, such as child labor, forced labor orprostitution, xenophobic entities, companies related to unlicensed wildlife trade or endangered species. If CGD does not keep up-to-date current and/or emerging regulation, this could leadto transactional risks, such as Legal (for example, fines) and Reputational (if the organization does not comply with current regulations, this may lead to a negative perception by clients).

Emergingregulation

Relevant,alwaysincluded

In order to be prepared for emerging legislation and applicable to the financial sector, CGD is represented in several national and international groups that aim to anticipate theseregulatory tendencies and to contribute to its wording and amendments. It is important to highlight CGD's CSO integration in the European Banking Federation, namely in the SustainableFinance Group. The Sustainable Finance Working Group of the European Banking Federation regards the EU Action Plan as a significant next step in developing an internationalregulatory system in which banks can play a concrete role in financing the global energy transition, the decarbonization of the economy and achieving the objectives of the ParisAgreement on climate change and the Sustainable Development Goals (SDGs) of the United Nations. In this way, CGD is able to anticipate regulatory and incorporation trends in itsanalysis of risks and opportunities related to climate change. In addition, and in order to go further and based only on the legislation that applies to it, CGD uses the services of anexternal entity - ISQ Institute of Welding and Quality - for sending and explaining the environmental regulation/legislation (including the emerging one).This information is evaluated by theteam that coordinates the Environmental Management System, and if any type of action is to be delineated it can be taken to the Sustainability Committee. If CGD does not keep up-to-date current and/or emerging regulation this may lead to transactional risks, such as Legal (for example, fines) and Reputational (if the organization does not comply with currentregulations, this may lead to a negative perception by clients).

Technology Relevant,sometimesincluded

CGD customers' preferences are changing and they are becoming more demanding and it is necessary to develop more agile, simple and effective services. In order to adapt to the risksand challenges associated with technological improvements or innovations that support the transition to lower-carbon, energy-efficient economic system; CGD implemented the "Caixa InMotion", CGD's Digital Transformation Program. In 2018, CGD continued to strategically invest in digital means and resources, enhancing the value proposal offered to customers which isconsistent across all channels and contact points, with the concern of providing local, high-quality services to populations in regions far from large urban centers. CGD combines theavailability of its services portfolio with the technological and multichannel innovation – branch network, travelling agencies, digital passbook (cadernet), Caixadireta, APPs (mobile) – andthe socio-financial inclusion of people with special needs and/or levels of disability dependent on the availability of exclusive means of contact and/or mobility. CGD has released a newdigital version of its passbook. The App Caderneta intends to complement the customer experience with the history and emblematic passbook, used by many generations of Portuguese.The commitment and investment in the digital inclusion of clients is continuous, in order to facilitate the adoption of the technology for a better and more accessible use of the financialservices provided. The relationship with the academic population was based on fully digital banking procedures. This totally digital process targets achieved the population with highereducation, university and polytechnic and has a significant reduction in paper consumption affecting legal documentation, photocopies and printed matter, also eliminating the need forconsumption of ink cartridges associated with these procedures. In 2018, CGD reached 1.4 million active digital customers, representing a growth of 9% compared to 2017. As forcompany customers, 147,000 active customers represent a 4% increase over the previous year. If CGD does not keep up-to-date on technology, transactional risks may arise, such asloss of revenues and reputational risks, taking into account that new generations of customers (Millennials) see technological innovation as a differentiating factor and something that theyrequire.

Legal Relevant,alwaysincluded

CGD continuously monitors the publication of new legal and regulatory obligations, as well as the issuance of recommendations and the outlining of best practices by supervisors andregulators, with the aim of adjusting its activities to its target audiences. In order to align its performance in line with these duties of conduct, CGD systematically analyses its internalprocedures and standards relating to these matters, identifying improvement opportunities and incorporating legal and regulatory changes. At the Environmental level, in 2018 CGDreinforced its procedures for a more comprehensive risk management aware of market changes and regulatory trends, integrating social and environmental criteria in the process of riskassessment and the decision to grant credit. The risk analyst, in the scope of the qualitative rating, analyzes the environmental, social, labor and anti-corruption issues. Sustainability andthe socio-environmental impact - Environmental, Social and Governance (ESG) - constitutes a qualitative risk factor taken into account in the rating evaluation, within the scope of thepolitical-legal framework in which the proposing company and/or the project is inserted. Under its EMS and in accordance with paragraph 6.1.3 of the international standardISO14001:2015, CGD must ensure the fulfillment of compliance obligations, which include requirements that any organization has to comply with by law, commonly designated by legalcriteria, as well as other relevant requirements that has decided or must comply with. As a complement, CGD uses the service of an external entity - ISQ - for analyse theregulation/environmental legislation applicable to CGD. This information is evaluated by the team that manages the EMS, and any related action to be delineated can be presented to theSustainability Committee which includes representatives from CGD's various departments (taking into account the nature of the agenda), such as compliance and legal. If CGD does notkeep up-to-date in terms of current and emerging regulation, transactional risks are identified, namely Legal (for example, fines) and Reputational (if the organization does not comply withcurrent regulations, loses the certification of its environmental management system and consequently this may lead to a negative perception by stakeholders).

Market Relevant,sometimesincluded

The financial sector, one of the main drivers of economic and social development, plays a structural and potentially structuring role in leveraging a low carbon economy market. As part ofits environmental policy, CGD assumes "To make available and promote financial products and services with a positive impact on the environment". Through this policy, there is analignment between the sustainability, marketing and communication team in order to improve and increase the market with products and services that can potentially contribute to reduceits customers potencial GHG Emissions. Within the scope of products and services with environmental benefits we highlight: - Caixa Viva Card: A bank debit card that allows you toautomatically pay for travel in the Lisbon Metropolitan Area (metro, bus, boat or train). This is an incentive to use public transport. This card registered 102 million euros of transactionvalue in 2018. - Caixagest Socially Responsible Investment (ISR): An investment fund that provides participants with access to a diversified portfolio of assets with varying degrees of riskand / or profitability, seeking to invest in companies that present best practices in areas such as respect for human rights, environmental impact or human resource management andexclude entities involved in sectors considered to be controversial (with negative social impact). At the end of 2018, 87.3 million euros were under management and has integrated the top10 best performing funds in Portugal. - Alternative Investment Fund Caixagest Renewable Energies: A fund dedicated to the financing of investment projects that contribute to increasingthe production of renewable and non-polluting energy, reducing CO2 emissions and consequently improving the quality of the environment. At the end of 2018 there were 8.3 millioneuros under management. In 2018 CGD launched the Efficient House Program, a credit line that finances projects in customers' homes to increase energy efficiency, reduce costs andenvironmental impact. This line has the endorsement of the European Investment Bank and includes the granting of an interest rate benefit. Failure to follow up and adapt to markettrends may involve risks for CGD such as a misalignment with demand for products and services.

Reputation Relevant,alwaysincluded

CGD brand reputation continued to evolve positively, measured by attributes considered essential to the Bank´s sustainability positioning (such as: trust; financial strength, governance,ethics and transparency). The OnStrategy reputation study rated CGD as the brand with the highest reputation value in the banking industry in Portugal in 2018. Through the 4th vector ofthe Low Carbon Program - Transparency and Sensitization - CGD, as a conscious institution of the challenges that climate change represent, takes an active role in transparency inreporting of climate-related information and raising awareness next to its stakeholders for the environmental theme, thus contributing to the increase of its reputation. In order to manageits reputational risks, CGD has been promoting Sustainability principles within the supply chain, through the implementation of environmental and social clauses applied to contracts withsuppliers (ethical principles and good business practices); promote periodic assessment of CGD brand image and communication, including the assessment of environmental liabilityattributes; answer to sustainability raters such as the Carbon Disclosure Project or the DJSI and audit its sustainability report by an external entity.

Acutephysical

Relevant,sometimesincluded

Extreme events such as extreme precipitation or the sea level rise are most of the time unpredictable. CGD as a worldwide bank face the physical risks associated to climate changeparameters, concerning its financial group subsidiaries abroad. Furthermore, Portugal could be one of the most affected countries by climate change due to greater exposure and loweradaptive capacity; physical risks may lead to disruption of operations and difficulty in reaching customers due to extreme weather events, especially in facilities located near coastal areas.Helping managing these risks, CGD has Caixa Segura Programme. Under this program training actions are developed to teams of first intervention and to emergency response teams(ERE) in order to enable employees with the knowledge and skills to enable their empowerness operate with maximum effectiveness in case of emergency, such as: Emergency drills atcentral buildings - Completion of evacuation exercises in central buildings, with the purpose of assessing the activation of the Emergency Management Office, testing the Plan of InternalEmergency in its various aspects and to promote at the operational level the articulation with the Operational Command Post within the scope of the Integrated System of Operations ofProtection and Relief, made up of civil protection agents. Emergency drills at facilities with risk category 2 as part of the Self-Protection Measures, continuation of training and emergencyand evacuation drills in the scope of the implementation of self-protection measures in the 2nd, 3rd and 4th installations Category of risk, in accordance with the legislation in force.Simultaneously, CGD has been conducting annual drills, testing the ability to adapt to environmental catastrophic scenarios such as earthquakes, tsunamis or fire procedures in headoffice. CGD has also a plan to ensure business continuity in case of serious incidents that might compromise current activity and for that it is implementing a system that reduces thelikelihood of incidents and improves response to crisis. The Business Continuity Management System, based on ISO 22301: 2012, Societal security - Business continuity managementsystems - Requirements, specifies the requirements to prevent or reduce the probability of occurrence of incidents and to respond effectively under different scenarios.

Chronicphysical

Relevant,sometimesincluded

Change in temperature extremes, e.g. increase of days with very high or very low temperatures, will increase energy demand, both for cooling in the summer and heating in winter inCGD’s branches and main buildings (e.g. Headoffice in Lisbon). This is a current risk to operations in Portugal due to the unpredictable changes in weather. Cold and warm air massesaffect CGD increasing the energy demand (mainly electricity). For this purpose, CGD has been adapting its systems in order to provide comfort to its employees and customers,maintaining the average temperature of its buildings and facilities at an acceptable temperature and ideal energy consumption. CGD has been investing in the production of renewableenergy and introduced several energy efficiency (EE) measures on its corporate buildings and commercial network. Main projects are: 1. Solar thermal plant at the Headoffice: collectorsinstalled across the 1,600 m2 roof at headquarters produce energy for heating and cooling the water necessary for the centralised air-conditioning and sanitary facilities (738 MWhproduced in 2018). 2. Solar photovoltaic microgeneration within the branch network: installation of solar photovoltaic panels (426 MWh produced in 2018).

Relevance&inclusion

Please explain

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Upstream Relevant,sometimesincluded

CGD considers that the upstream risks are related to its suppliers and the policies applied in the granting of credit. CGD assumes itself as an agent of change along the value chain,promoting sustainability principles upstream, as a way to mitigate environmental and social risks, namely through ethical principles and good business practices, aligned with the 10principles of the Global Compact, and the obligations contained in the environment, safety and health practice manual annexed to the contracts, where applicable taking into account thescope, industry and nature of the service provided. Also, CGD has a Manual of Environmental, Safety and Health Good Practices that integrates into new contracts with resident suppliersin order to sensitize them to environmental issues and promote behavior in line with CGD's environmental policy. CGD also protects Human Rights regarding its chain of suppliers andservice providers, by contractually committments, in order to promote, respect and protect human rights and not, in any way, to derive any benefit from child labour, non-voluntary work orany work performed in conditions and subject to remuneration which are prejudicial to human rights. Within the scope of the Environmental Management System, CGD identifiestransactional risks that suppliers can cause, namely reputational. Thus, CGD Sustainability Report disclosures the suppliers with environmental and social clauses in their contracts, whichminimizes the risk of bad practices and therefore reputational risks. In addition, in the scope of Environmental Management System the bank promotes audits to its resident suppliers.CGD Group also recognizes that there are industries of activity that may contribute in a negative way to sustainable development and therefore has established principles that underlyactivities and projects to be excluded or restricted under certain conditions from its credit policy - Principles of Exclusion and Limitation .

Downstream Relevant,sometimesincluded

CGD considers downstream risks to be related to the products/services provided to its customers. The transition to a Low Carbon Economy meets CGD's agenda and efforts in order tomeet the expectations of a new paradigm and mainstream consumers (e.g. millennials). Therefore, CGD integrates several working groups aligned with national and international policiesthat help the financial sector to adapt to the expectations of its stakeholders. The CGD Environmental Policy seeks to promote financial products and services with a positive impact on theenvironment. For instance, in 2018 CGD released the digital substitute for the physical passbooks, the "APP Caderneta". In this way, among other benefits, CGD anticipates a significantreduction of its environmental impact taking into account that the physical passbooks consumed about 26000 kg of paper. Through the life cycle approach, CGD step forward in theprocess of identifying risks and opportunities related to climate change. A concrete example of the application of these measures in the downstream context is the programme of bankcards recycling. CGD developed a recycling circuit for expired or damaged cards, based on the circular economy concept. Thanks to this project, bank cards (expired or at the end of theirservice lives) and non-bank cards (e.g. loyalty cards made of plastic) can be valued through plastic recycling.This waste reprocessing programme enabled the delivery of urban furniture tofour “social solidarity” institutions (i.e. charities), the adoption of a proactive attitude to prevent pollution while, at the same time, making a contribution to collective citizenship. Further, theprogramme ensure that confidential personal data is destroyed in the process. Therefore, CGD assures as being a more secure and less environmental impact the deliver of bank cardsin its branches to redirect for recycling. The development of this type of iniciative minimizes reputational risks as it improves customer or community perceptions of CGD contribution to thetransition to a lower-carbon economy.

Relevance&inclusion

Please explain

C2.2d

(C2.2d) Describe your process(es) for managing climate-related risks and opportunities.

CGD has implemented an Environmental Management System (EMS), certified according to ISO 14001, since 2014. The existence of a EMS guarantees a set of importantinformation and semiannual monitoring of the key indicators for the continuous improvement of the main drivers. Each year, the Sustainability Team defines with the severalkey operational areas objectives that lead to the continuous improvement of the various environmental aspects (e.g. energy consumption).

CGD relied on the recommendations of the Task Force on Climate-Related Financial Disclosure (TCFD) to identify environmental risks and opportunities. As a result of theassessment, transition risks such as Political and Legal, Market / Technological, Reputational, and Physical risks like Acute and Chronic were identified and reported on CGDAnnual Report 2018. At the level of the Transition Risks, CGD identified as Political and Legal risk the adaptation to national and international policies and trends of transitionto a Low Carbon economy. To concerning its mitigation CGD developted a new Sustainability Strategy underway for the 2018-2020 triennium, which includes the Eco-efficiency and Adaptation to Climate Change area and objectives. The Sustainability Strategy was developed by the CGD Chief Sustainability Officer with a quarterly followup on the Sustainability Committee. During 2018, CGD undertook a review of the Low Carbon Program that materializes CGD's a long term adaptation strategy for climatechange aiming at (i) reducing the environmental impact of its activities; (ii) promote sustainable development; and (iii) dissemination of good practices among its stakeholders.The review of the objectives and vectors of action of the Low Carbon Program aimes to ensure greater adaptation to international trends and recommendations, as well asgreater alignment with expectations of stakeholders and investors. The Program is structured considering 4 main drivers of performance, financing the Low Carbon Economy;Greenhouse Gases Emission Reduction, Environmental Risk Mitigation; Transparency and Awareness. In order to be up-to-date on the evolution of legislation and trends,CGD also participates in several working groups that facilitate the integration of international trends and policies (for example, Sustainable Finance of the European BankingFederation). In the risk assessment carried out by a multidisciplinary team, CGD recognizes the existence of sectors of activity or projects that can contribute negatively tothe Sustainable Development, for which there is a definite list of principles "Principles of Exclusion and Sectoral Limitation" that underlie activities and projects that areexcluded or restricted under certain conditions of credit policy. At the level of Opportunities CGD identified aspects related with Resource Efficiency, Energy Source, Productand Services, Markets and Resilience. At the level of the Products and Services an opportunity remains to develop, stronger, financial solutions that contribute todecarbonization of the economy taking into account the new consumer profiles. In order to take advantage of climate change opportunities CGD launched products andservices adapted to the new market context, a concrete example is the Efficient House Program that promotes the improvement of the environmental performance ofresidential buildings, with a special focus on energy efficiency and water, as well as in the management of urban waste. Related with Resource Efficiency CGD assured amore eco-efficient management model, namely the implementation of Central Solar Thermal. Since its implementation, the solar panels have produced 10.440.900 kWh(10,4 GWh). Additionally, in order to mitigate its environmental impact , a long-term objective was defined using the rational of the SBTi tool: CGD in Portugal to reduce itsscope 1 and 2 emissions in 43% by 2021 compared to 2015. In terms of physical risks CGD has identified the possibility of extreme climatic events and climatic variations. Asan example of a mitigation measure, CGD implemented and ensures an Environmental Management System (certified by ISO14001:2015), guided by the continuousimprovement of environmental practices. In order to improve response to extreme climatic events, annual drills are carried out to test the capacity to adapt to catastrophicscenarios such as earthquakes, tsunamis and/or fires.

C2.3

(C2.3) Have you identified any inherent climate-related risks with the potential to have a substantive financial or strategic impact on your business?Yes

C2.3a

(C2.3a) Provide details of risks identified with the potential to have a substantive financial or strategic impact on your business.

IdentifierRisk 1

Where in the value chain does the risk driver occur?Direct operations

Risk typeTransition risk

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Primary climate-related risk driverPolicy and legal: Mandates on and regulation of existing products and services

Type of financial impactIncreased costs and/or reduced demand for products and services resulting from fines and judgments

Company- specific descriptionCGD permanently oversees the publication of new legal and regulatory obligations, in addition to the issue of recomendations and definition of good practice by theregulators and supervisors, to adjust its ativity in conformity to these behavioural standards. In this sense CGD systematically analyses its practices and internal standardson such issues, identifying opportunities for improvement to prepare for the expected legal and regulatory amendments or new frameworks.

Time horizonShort-term

LikelihoodVery unlikely

Magnitude of impactMedium-high

Are you able to provide a potential financial impact figure?Yes, an estimated range

Potential financial impact figure (currency)<Not Applicable>

Potential financial impact figure – minimum (currency)24000

Potential financial impact figure – maximum (currency)144000

Explanation of financial impact figureAccording to the Framework Law on Environmental Ordinances (Law n. 50/2006, of 29 August), the number of fines resulting from environmental misconduct is assessedtaking into account whether they are applicable to individual or collective persons and taking into account the degree of guilt. According to article 22, in the event of a veryserious misconduct practiced by a individual person, the fine may vary between € 24,000 and € 144,000 (if it is caused by negligent acts).

Management methodCGD has a Compliance Support Office that assesses the adequacy and effectiveness of the procedures adopted to identify any risk of non-compliance with CGD's legalobligations and other duties, as well as the measures taken to correct weaknesses of control. At the Environmental level, CGD has the services of the Institute of Weldingand Quality that follows the legislation applicable to the Institution in the BD Leg platform, throughout the year, and carries out the Legal Compliance Assessment withannual periodicity to attest or update CGD's compliance with environmental legislation.

Cost of management1308.72

CommentThe management of environmental legislation costs €1308 per year. This amount includes: access to the BDLeg Platform where the legal requirements applicable to CGDare uploaded montly; cost of the Legal Compliance Assessment Audit executed by the Institute of Welding and Quality.

IdentifierRisk 2


Risk typePhysical risk

Primary climate-related risk driverChronic: Rising mean temperatures

Type of financial impactIncreased operating costs (e.g., higher compliance costs, increased insurance premiums)

Company- specific descriptionChange in temperature extremes, e.g. increase of periods of time with very high or quite low temperatures, will increase energy demand, both for cooling in the Summerand heating in Winter, in CGD’s branches and main buildings (e.g. Lisbon). This is a current risk to the bank's operations in Portugal, due to the unpredictable changes inweather. Cold and warm air masses affect CGD, as any other organization, increasing the energy demand (mainly electricity).

Time horizonMedium-term

LikelihoodLikely


Are you able to provide a potential financial impact figure?Yes, a single figure estimate

Potential financial impact figure (currency)1700000

Potential financial impact figure – minimum (currency)<Not Applicable>

Potential financial impact figure – maximum (currency)<Not Applicable>

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Explanation of financial impact figureAccording to ERSE, average electricity prices increased 14% in the period 2010-2017. Given this trend, the financial implications to an increase of the cost of electricity for2022 could be around € 1,7 M.

Management methodCGD has been investing in the production of renewable energy and introduced several energy efficiency (EE) measures in its corporate buildings and commercial networkbranches. Main projects are: 1. Solar thermal plant at the Headoffice: collectors installed across the 1,600 m2 roof at headoffice produce energy for heating and cooling thewater necessary for the centralised air-conditioning and sanitary facilities (738 MWh produced in 2018). 2. Solar photovoltaic microgeneration within the branch network:installation of solar photovoltaic panels in more than 80 CGD branches. A total of 1,450 panels (426 MWh produced in 2018). CGD implemented other measures in 2018,namely replacement of several lighting system for LED technology (e.g. at vending machines, offices, sanitary facilities, outdoor ); Fans Modernization, among others; As aresult of the various measures implemented, CGD significantly reduced its scope 2 emissions from 26314 ton CO2 (2017) to 15069 ton CO2 (2018), representing 43%redution overall.

Cost of management564000

CommentIn 2018, CGD invested € 564 k in the implementation of energy efficiency measures in buildings where it operates, namely: replacement of fluorescent lamps by LED (€251k), modernization of fans and air conditioning units (€ 294k), others (€ 18k).

IdentifierRisk 3


Risk typeTransition risk

Primary climate-related risk driverMarket: Increased cost of raw materials

Type of financial impactRe-pricing of assets (e.g., fossil fuel reserves, land valuations, securities valuations)

Company- specific descriptionOperational costs related to transportation (fuels) have been rising for the past few years in Portugal. This represents a risk to CGD as these rising costs need to beconsidered in the overall strategy of the bank for adaptation/mitigation concerning climate change. New taxes and regulations regarding fuel and energy may affect thebank, specifically its vehicle fleet (diesel vehicles). However, there is a high level of uncertainity associated to this risk and how it might affect CGD in the future as the priceof fuels are strongly affected by several factors, such as: political and geographical issues; oversupply growth of unconventional oil production, government taxes, amongothers.

Time horizonShort-term

LikelihoodVery likely

Magnitude of impactMedium





Explanation of financial impact figureIn 2018 there was a variation of 4% in the price of diesel and 8% in the price of gasoline. Assuming that the consumption of fuels in 2019 is equal to that registered this year,and considering that the price of fuel has a growth similar to 2018, it is estimated an increase of around 27 thousand euros related to the purchase of fuels.

Management methodCGD has been gradually restruturing its car fleet in order to pursue the objetives of the 2017-2020 Strategic Plan, as well as to reduce its environmental impact. The carfleet dropped from 755 to 720 vehicles in 2018, contributing to a significant redution in fuel consumption and costs of 35% and 23%, respectively. Addictionally, CGD hasissued a bank debit card that allows automatic payment in the public transports of the Lisbon Metropolitan Area (subway, bus, boat or train) - Caixa Viva Card. It wasdesigned as an incentive to use public transportation network. In the context of the internal training on the Environmental Management System (EMS), CGD realizes theawareness of its employees to alternative models of distance communication (e.g.: videoconference, conference calls, Skype, etc.) and sponsors good practices to beadopted on a day-to-day basis by employees as carsharing or use of public transports.

Cost of management0

CommentNo direct costs are associated to the development/maintenance of CGD Mobility Plan because it focuses on good practices and communication made on CGD's internalchannels.

C2.4

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(C2.4) Have you identified any climate-related opportunities with the potential to have a substantive financial or strategic impact on your business?Yes

C2.4a

(C2.4a) Provide details of opportunities identified with the potential to have a substantive financial or strategic impact on your business.

IdentifierOpp1

Where in the value chain does the opportunity occur?Direct operations

Opportunity typeEnergy source

Primary climate-related opportunity driverOther

Type of financial impactReduced operational costs (e.g., through use of lowest cost abatement)

Company-specific descriptionThe use of renewable energy sources is a key part of minimizing national energy dependence and reducing carbon emissions. One of CGD's concerns is to reduce theenvironmental impacts resulting from its activity and taking into account that it has the largest solar power plant installed in a Service Building in Portugal, its maintenanceis crucial for the reduction of CO2 emissions.


LikelihoodVirtually certain






Explanation of financial impact figureCGD has implemented a solar power plant in its headoffice building in Lisbon. This infrastructure allows a saving of 400,000kWh/year in heating water for the kitchen,bathrooms and baths and 500,000kWh/year in the air conditioning system. Based on the average energy value of 0.193€/kWh (ERSE), savings of 174000 € per year areestimated. Additionally CGD implements several measures to minimize the impacts of its activity. In 2018, CGD implemented a set of measures aimed at reducing energyconsumption in all headoffice's working areas and parking, such as replacing LED lighting (in branches, vending machines, outdoor projectors, etc.), upgrading fans andreplacing air conditioning units with more equipment efficient. These measures allow a saving of 184.830€.

Strategy to realize opportunityAnnually, CGD studies measures to be implemented on its buildings to improve efficiency . For 2019 and 2020, measures such as fan upgrades and LED retrofit lighting arealready foreseen. With the implementation of these measures a reduction of around 4000 MWh/year in final energy consumption is expected.

Cost to realize opportunity564000

CommentIn 2018, the implementation of the several measures of energy efficiency entailed a cost of € 564k: € 270k in more efficient lighting and € 294k in the modernization of UTAfans and air conditioning systems (AVAC).

IdentifierOpp2

Where in the value chain does the opportunity occur?Direct operations

Opportunity typeProducts and services

Primary climate-related opportunity driverOther

Type of financial impactOther, please specify (Brand Value/Reputation)

Company-specific descriptionCGD forsees opportunities on improving its reputation by adapting its commercial portfolio to a low-carbon economy and creating new products and services able to satisfyits customers needs and expectations. By showing a strength commitment with climate change, CGD improves its reputation and performance, increasing demand forexisting products and services and respecting its essencial values and the comitments held or signed.

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LikelihoodLikely






Explanation of financial impact figureIn 2018, CGD continued to be the most reputed brand according to Marktest Reputation Study, reaching the highest financial value of 139,3 M€ - for the reputation of abrand of the banking sector in Portugal, according to 2018 OnStrategy Reputation Study. CGD's overall image is very positive. Costumer retention is increasing, reducingthe likehood of customers choosing another Bank and the brand's reputation is improving together with the awareness improvement of the attributes deemed crucial for theBank's Sustainability.

Strategy to realize opportunityCGD is currently exploring this opportunity through the implementation of its Low Carbon Programme and the commercialisation of several low-carbon promotion productsand services (renewable energies credits; treasury support for companies affected by fires, eletric fleets (SMEs); among others). CGD believes that these actions reinforcethe engagement with its stakeholders, as a proative bank regarding climate change adaptation and mitigation.


CommentIn order to continued to maintain its brand promotion as a bank that fosters the transition to a low carbon economy, in 2018 CGD implemented a set of energy efficiencymeasures valued at 564.000 €. To evaluated the effectiveness the developed iniciatives CGD has been responding voluntarily to the CDP and to the DJSI, as is a state-owned non-listed company.

IdentifierOpp3

Where in the value chain does the opportunity occur?Customer

Opportunity typeProducts and services

Primary climate-related opportunity driverShift in consumer preferences

Type of financial impactIncreased revenue through demand for lower emissions products and services

Company-specific descriptionCGD’s clients are aware of climate change impacts and expect more sustainable products, especially connecting these to responsible banking. These actions reinforce theengagement of CGD with its stakeholders (e.g. investors, shareholders, partners, regulators, clients and employees) concerning climate change, meaning newproducts/business services, new developments and partnerships, innovation and digitalization, together with new sources of revenues and the increase of the existing ones.


LikelihoodLikely






Explanation of financial impact figureAccording to the "Green Growth Commitment", a strategic document drafted by the Portuguese Government, there is a strategic goal for increasing the Green Gross Value-Added in Portugal to 3000 million euros in 2020 (compared to 2000 million euros in 2012). In this context, a € 3000 million opportunity arises to promote an integrated andtransversal vision of the areas and sectors with potential for green growth, which fosters the ability to link research, development and innovation to the productive fabric,products, services and processes, as well as existing financing mechanisms, to decouple economic growth from resource use, promote energy and material efficiency, andidentify new economic opportunities.

Strategy to realize opportunityTo this end, CGD is currently exploring this opportunity by offering low-carbon solutions in order to help its customers to reduce their carbon footprint (e.g. financing

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renewable energies, households, eletric vehicles, less consumer comodities, etc.), adopting a position of low-carbon economy enabler.


CommentIn 2018, CGD invested in a series of low carbon solutions, such as: * Line of credit for hybrid and electric vehicles by Caixa Leasing e Factoring (€ 6.2 million); -CaixagestRenewable Energy Alternative Open-End Investment Fund: A fund created to financing projects that contribute to increase the production of renewable and non-pollutingenergy, reducing CO2 emissions and improving the quality of the environment. At the end of 2018, there were 8,3 Million euros under management. -Caixagest Socially-Responsable Investment: the main objetive is to allow investors to access a diversified portfolio of assets with different degrees of risk and/or profitability, seeking to investin companies with best practices in areas such as: respect for Human Rights, good environmental impact, fair human resources management, and excluding entitiesoperating in sectors considered as controversial. At the end of 2018, there were 87,3 million euros under management.

C2.5

(C2.5) Describe where and how the identified risks and opportunities have impacted your business.

Impact Description

Productsandservices

Impacted The financial products and services commercialised by CGD comply with rigorous internal control mechanisms ranging from design to commercialisation and disclosure/advertising, with theaim to ensuring scrupulous compliance with all legal and regulatory obligations, as well as best pratices, as disclosed by international and national bodies and ethical principles that underlineCGD's performance and governance. The financial sector, one the main drivers of economic development, plays a structural and potentially structuring role in leveraging the way to a lowcarbon economy. In this context, CGD follows trends and opportunities generated by new markets and agents of change, integrating aspects of this evolutions in its portfolio and developinga financial offer that boosts access to environmentally responsible products. Within the scope of products and services with environmental benefits, CGD highlights: -Caixa Viva Card, that isa bank debit card that allows the automatic payment of trips in the public transports of the Lisbon Metropolitan Area (subway, bus, boat or train). It was design as an incentive to use publictransportation. This card recorded 102 million euros in transactions in 2018. -Caixagest Energias Renováveis (Renewable Energy) Alternative Open-End Investment Fund that is aimed atfinancing investment projects that contribute to increase the production of renewable and non-polluting energy, reduzing CO2 emissions and, consequently, improving the quality of theenvironment. The main goal of this fund is to allow access to the diversified portfolio of assets that are, directly or indirectly associated with renewable energy, environmental quality and"carbon" assets. At the end of 2018, there were 8.3 millions euros under management. -Caixa Empresas Energias Renováveis (Renewable Energy), this solution aims to promote investimentin the area of renewable energy - solar thermal and photovoltaic, hydro and wind technologies, with 20 thousand euros in loans granted.

Supplychainand/orvaluechain

Impactedfor somesuppliers,facilities,orproductlines

Supplier management is part of CGD's Sustainability strategy, as supply chain and its agents contribute to the identification of CGD's environmental and social impacts that are indirectlyreflected on supplier's activities. In order to mitigate negative impacts on the bank's socio-environmental performance, CGD ensures respect for Human Rights and compliance with standardsfor the prevention of corruption and bribery attempts, regarding the duration of partnerships and/or subcontracting agreements with third parties by contractual means - obligations containedin the Handbook of Good Environmental, Safety and Health Practices attached to the agreements -, monitoring the compliance of accredited and/or in-house suppliers with the regulationsapplicable to the nature of the services provided. CGD provides its suppliers engagement letters, which are signed by the parties, and all contracts include the following documents andclauses: -Ethical principles and good business practices - in all contracts, except in specific cases where the draft contract is provided by the supplier. -Handbook of good environmental,safety and health practices for suppliers - in all service provision agrreements with "in-house" suppliers. -Some of the contracts may also include specific clauses on waste clauses, namelybuilding maintenance, multifunctional ans waste management operation (OGR) contracts, covering services listed in the Specific Requirement Matrix. In addition, suppliers are also requiredto endorse the Declaration of Ethical Principles and Good Business Practices, wich underpins the implementation of the CGD Group's Subcontracting Policy that assesses compliance riskand reputational risk within the supply chain. In 2018, CGD's procurement area concluded 247 new contracts, 93.5% of which include environmental clauses, an increase of 36% comparedto 2017. In order to promote the identification of collaborative and risk opportunities 3 suppliers were subjected to environmental deep assessments as part of internal and external auditsconcerning CGD's environmental management system and legal compliance.

Adaptationandmitigationactivities


In 2018, CGD revised its Low Carbon Program. CGD's Low Carbon Program responds to the challenges and opportunities associated with climate change and the need to adapt its impactsin order to guarantee CGD's medium and long term sustainability. In 2018, more demanding objectives regarding climate change were defined with greater alignment with the maininternational trends. Therefore, na commitment to reduce greenhouse gas emissions by 43% (scope 1 e 2) by 2021, in comparison to 2015 was settled in alignment with thedescarbonization methodologies contributing to the objetives of the Paris Agreement. The Low Carbon Programme comprises 4 operating components: 1-Financing of the Low CarbonEconomy: The provision of financial solutions contributing to the low carbon economy; 2-Reduction of Greenhouse Gas Emissions: Application of measures designed to reduce energyconsumption and respective emissions; 3-Mitigation of Environmental Risk: Implementation of measures designed to reduce environmental risks with capacity to affect CGD's activities; 4-Transparency and Awareness-raising: Transparency in reporting information and raising stakeholders' awareness of need to adopt good environmental practice.

Investmentin R&D


The globalization of markets, coupled with a high rate of technological change, requires companies to adapt rapidly to maintain their competitiveness in the macroeconomic context in whichthey operate. CGD's Strategic plan 2017-2020 is based on five pillars, one related with business transformation in a digital context. CGD's commercial activity, in 2018, was guided by itsdigital transformation plan as a critical factor for the definition of customer service, providing a higher level of oversight and promoting a proximity service and greater customer loyalty. Aspart of digital transformation programme and to guarantee customers' greater accessibility to digital solutions, the following were launched in 2018: -The bank passbook app - as a digitalversion of CGD's bank passbook, particularly with the senior segment in mind; -The possibility of using video calls to open accounts remotely; -The new Caixadirecta app; -Caixa Easy - as asmartphone service enabling small amounts to be immediately transferred via a mobile phone number, without identifying the number of the account to be credited; -Internet banking serviceviews, for customers between the ages of 12 and 17 to encourage better management of their money in the future; CGD spent €1169 thousand on research, development and innovationprojects in 2018.

Operations Impactedfor somesuppliers,facilities,orproductlines

Operational costs related to transportation (fuels) have been rising for the past few years in Portugal. This represents an oportunity to CGD as these rising costs may impact the overallstrategy of the bank on adaptation and mitigation of climate change and to minimize the increase of operational costs. CGD has been gradually restrutucturing its car fleet in order to pursuethe objectives of the 2017-2020 Strategic Plan, as well as to reduce its environmental impact. The car fleet dropped from 755 to 720 vehicles in 2018 contributing to a significant reduction infuel consumption and costs of 35% and 23%, respectively. Also direct emissions resulting from the consumption of fuels by CGD,S.A. fleet dropped 35%, when compared to 2017. Raisingemployees' awareness to the use of public transport and channels of distance communication are incentives for the adoption of less polluting practices.

Other,pleasespecify

Impacted Over the years, CGD has replaced plastic containers (in water dispensers) with water purifiers connected to the public supply network, extending this iniciative to the comercial network,carried out in partnership with EPAL (company responsible for water supply in Lisbon). The "Água da Torneira" (Tap Water) Project ensured the interruption of the bottled water supply,depleting the existing stock and gradual replacement of plastic bottles by glass bottles in meeting rooms and other áreas and promoting the use of individual "cups" offered to all employeers.In December 2018, the distribution of glass bottles and the consumption of tap water allowed: reducing direct and indirect environmental impact; reducing energy consumption; reduce CO2emissions associated with the transportation, refrigeration and distribution of bottled water; significantly reducing plastic waste (containers, bottles and cups) and increasing the volume ofplastic waste sent for recycling. Regarding the management of the life cycle of its products and services, namely bank cards, CGD continued to implement the Bank Card RecyclingProgramme, thus enabling bank cards and other PVC cards delivered by its customers and the public in general in the Branch network - to be reused via the recycling of plastic. This wastereprocessing programme enabled the delivery of urban furniture to four “social solidarity” institutions (i.e. charities), showcase the adopting of a proactive attitude to prevent pollution while, atthe same time, making a contribution to collective citizenship.

C2.6

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(C2.6) Describe where and how the identified risks and opportunities have been factored into your financial planning process.

Relevance Description

Revenues Impacted CGD considers that the Low Carbon Program confers a competitive advantage as to reputational gains and to market share and revenues. Examples of such products are: (a) SpecialInvestment Fund Caixagest Renewable Energy: a special investment fund that only invests in renewable energy and other related activities. (b) Special Investment Fund CaixagestSocially Responsible Investment: This fund’s management applies social responsibility filters. (c) Other low-carbon cards, such as Caixa Viva card (debit card for automatic payments fortravelling on Lisbon public transport -subway, bus, boat or train- encouraging the use of public transport, and Caixa Webuy prepaid card (card issued only in paper format, avoiding theproduction of plastic and GHG emissions associated). (d) Treasury Support for Companies affected by Fires: Line of credit with the purpose of creating conditions for companies affectedby the large fires that stared on 15 October 2017, to meet cash or working capital needs associated with the relaunch of their activity. As result of the analysis of CGD and based onmarket evolution and current consumer behavior, low carbon products are expected to have an increasing weight in CGD's revenues. An example of the contibution of the positive impactfor both CGD's revenues and the redution of the environmental impact of its customers is the credit line Caixagest Renewable Energy Alternative Open-End Investiment fund , In 2018, anamount of 8,3 million euros was financed.

Operatingcosts

Impactedfor somesuppliers,facilities, orproductlines

CGD's Strategic Plan (2017-2020) has set the goal of reducing operational costs by 20%, aiming to achieve a Cost-to-Income ratio in line with best practices of European banks. Theexistence of an Environmental Management System contributes to the achievement of the Institution's strategic objective of improving its operational efficiency in domestic activity byreducing the operational costs of energy, materials, resources and adapting to the demands and expectations of its stakeholders. CGD has been investing in the production of renewableenergy and introduced several energy efficiency (EE) measures on its corporate buildings and commercial network which enables to reduce its operating costs. The main projects are: 1.Solar thermal plant at the Headquarters: collectors installed across the 1,600 m2 roof at headquarters produce energy for heating and cooling the water necessary for the centralized air-conditioning and sanitary facilities (738 MWh produced in 2018). 2. Solar photovoltaic microgeneration within the branch network: installation of solar photovoltaic panels in more than 80CGD branches. A total of 1,450 panels (426 MWh produced in 2018). CGD implemented other measures in 2018, namely: a) Headquarters: replacement of several lighting system forLED technology (e.g. at bathrooms, vending machines, outdoor areas of the building); Fans Modernization, among others; b) Commercial network: Optimization of the HVAC Systems;illuminated sign boards optimization; among others. These type of measures require an analysis of the costs, investment and payback expected, which will require a financial planning ofthe organization in order to ensure the existence of funds for investment in this type of measures. As a result of these measures CGD Group achieved a 11% reduction in energyconsumption compared to 2017, which allowed a significant cost reduction. In 2018, CGD limited the possibility of color printing to Central Services, since the cost of color printing is ninetimes higher than black and white printing. In addition to these measurements CGD printing is performed with the front and back preset, which reduces the amount of paper used inprinting. In 2018, there was a decrease of 24%, compared to 2017, in the consumption of photocopy paper.

Capitalexpenditures/ capitalallocation


The financial sector plays a structural role in leveraging a low carbon economy and CGD follows trends and opportunities generated by new markets and agents of change, integratingaspects of this evolution in its portfolio and developing a financial offer that makes acess to environmentally responsible products easier. CGD has continued to market several financinglines that effectively contribute to reduce its customers' GHG emissions, covering areas such as Energy Efficiency, Renewable Energy and Sustainable Mobility. Within the scope ofproducts and services with environmental benefits CGD highlight: Caixa Viva Card - that incentive to the use of public transportation and Caixa Webuy Pre-Paid Card to enable saferpayment on Portuguese or foreign Internet websites, while contributing to fight tax evasion, fraud, and dematerialise the use of PVC/plastic (because it's made of cardboard). Otherexample is Caixagest Renewable Energy Alternative Open-End Investiment Fund, these fund aimes to financing investiment projects that contribute to increase the production ofrenewable and non-polluting energy, reducing CO2 emissoes and, consequently, improving the quality of the environment. At the end of 2018, there were 8,3 million euros undermanagement. CGD also invested in reducing the impact of its buildings, for example allocated 294 k € to upgrade climatization systems and 270 k € to replace lighting with more efficientsystems. Futhermore, CGD has reduced 73 real estate building, in Portugal, minimising its footprint.

Acquisitionsanddivestments


CGD Group continued to restructure its international presence in line with its strategic plan, focusing on geographies having strong relationships with Portugal. Reference should be madeto the opening of 5 new Banco Comercial de Investimentos (BCI) branches in Mozambique. The implementation of its strategic plan witnessed the closure of the New York and Zhuhaibranches, the latter of which inactive since 2017. In addition to initiatives to raise the awareness of employees and the community, CGD's work is based on the definition of quantitativetargets for reducing environmental impact, with a focus on optimizing operational efficiency: energy, greenhouse gas emissions, waste management, improving employees behaviors,among others.

Access tocapital

Notimpacted

Under EMS CGD implemented a significant process for assessing environmental aspects, based on their potential environmental impact on multiple domains or elements of theenvironment. This assessment includes CGD’s suppliers providing activity in CGD’s Headoffice (e.g.restaurant & canteen, cleaning installation, etc.).The environmental impactassessment is carried out taking into account the severity and frequency (likehood) of occurrence, from which follows the risk of environmental impact. The result of this evaluation is inter-crossed with the assessment on the existing control conditions for each environmental aspect, and in accordance with the applicable requirements (legal and other), with the standardsadopted by the organization, and with the engagement of stakeholders, translating additional control and monitoring requirements for CGD. In this analysis, no risks and opportunitiesregarding access to capital were identified in the financial planning process.

Assets Impactedfor somesuppliers,facilities, orproductlines

CGD Management method implies that Compliance risks associated with existing compliance mechanisms are assessed and evaluated individually at the project finance level, through anenvironmental due diligence process. The evaluation of these projects/assets encompasses a designated team responsible for collecting and analysing all aspects related toenvironmental legislation in place, including climate change related policies. CaixaBI ensures that the project finance credit risk assessment includes a category of Sustainability andSocio-Environmental Impact of the project, which analyses different project finance intervention areas based on 4 key positioning axes: economically profitable, financially viable, sociallyjust, environmentally correct. For the evaluation of environmental and social risks, CaixaBI uses the hiring of an independent technical consultant. When justified in terms of risk, an auditis focused solely on the social and / or economic dimension of a given project. In the context of a greater involvement of Multilateral Institutions the potential financiers of projects advisedby CaixaBI, Investment Bank, in anticipation of the information needs of those institutions, asks the promoters to analyse the sustainability of the project, with a description / evaluation ofits social and environmental impact.

Liabilities Notimpacted

Under EMS CGD implemented a significant process for assessing environmental aspects, based on their potential environmental impact on multiple domains or elements of theenvironment. This assessment includes CGD’s suppliers providing activity in CGD’s Headoffice (e.g.restaurant & canteen, cleaning installation, etc.).The environmental impactassessment is carried out taking into account the severity and frequency (likehood) of occurrence, from which follows the risk of environmental impact. The result of this evaluation is inter-crossed with the assessment on the existing control conditions for each environmental aspect, and in accordance with the applicable requirements (legal and other), with the standardsadopted by the organization, and with the engagement of stakeholders, translating additional control and monitoring requirements for CGD. In this analysis, no risks and opportunitiesregarding liabilities were identified in the financial planning process.

Other Notimpacted

C3. Business Strategy

C3.1

(C3.1) Are climate-related issues integrated into your business strategy?Yes

C3.1a

(C3.1a) Does your organization use climate-related scenario analysis to inform your business strategy?Yes, qualitative and quantitative

C3.1c

CDP Page of 3813

(C3.1c) Explain how climate-related issues are integrated into your business objectives and strategy.

(i) Influence of climate-related issues on business objectives and strategy: CGD's Sustainability Strategy for the 2018-2020 triennium, in line with the Bank's StrategicPlan, establishes six (6) areas of structural intervention - Affordable Business, Social Responsibility, Environmental Footprint, Ethics and Compliance, Risk Management andInvolvement with Stakeholders - reflected in annual activity plans and continuing the commitment and contribution to sustainable development, respecting the 10 Principles ofthe United Nations Global Compact and the 17 Sustainable Development Objectives. The Environmental Footprint vector includes, among several initiatives and projects, theLow Carbon Program and the Environmental Management System. The CGD Low Carbon Program responds to the challenges and opportunities arising from climate changeand the need to adapt to its impacts to ensure sustainability. The Low Carbon Program consists in 4 performancedrivers : (i) Financing of the Low Carbon Economy; (ii)Reduction of Greenhouse Gas Emissions; (iii) Environmental Risk Mitigation and (iv) Transparency and Awareness. CGD's Environmental Management System (EMS),certified by the international standard ISO 14001:2015, exposes the Bank's adaptation and response to the expectations of its strategic stakeholders, ensuring a completeknowledge and control of the infrastructures, resources and materials, which allows to gather of information that supports the development of environmental strategy andinitiatives. All outputs associated with the environmental driver of CGD's sustainability strategy are reported in the Sustainability Committee, which includes the presence ofseveral areas of the Bank as well as members of the top management, allowing the integration of this theme into all relevant business lines. (ii.) Link between businessstrategy and emissions reductions target: Through the EMS and the Low Carbon Program, CGD has been increasing its demands on the collection of environmental dataand the development of internal processes that allow the reduction of greenhouse gas emissions, such as: Direct Environmental Impact (Emissions) - Objective to reduce by43% of total greenhouse gas emissions (Scope 1 and 2) in Portugal (CGD S.A.) by 2021, compared to 2015; Direct Environmental Impact (Internal Assessment Tool) - Withinthe scope of the EMS there is an internal management matrix for the identification of the significance of the environmental aspects associated to the activities, products andservices; Indirect Climate Impact (Credit Risk) - Publication of the CGD Exclusion and Sector Limitation Principles underlying activities and projects that are excluded, orrestricted under certain conditions, from its credit policy, taking into account the socio-environmental risk potential; Indirect Climate Impact (Sustainable FinanceOpportunity’s) CGD is present in several working groups that facilitate the integration of international trends and policies (e.g. Sustainable Finance of the European BankingFederation) and the launch of products and services adapted to a new market and consumer context (Efficient Home Program, Hybrid and Electric Vehicles Credit Line, AppCaderneta, among others). (iii.) Most substantial business decisions made during the reporting year: As a result of CGD's Sustainability Strategy definition for2018/2020 triennium, 2018 was marked by significant business decisions at the environmental level, namely: The review of the Low Carbon Program which set moredemanding environmental targets, namely the definition of a new goal of reducing GHG. For the process of defining a new GHG reduction objective, one of the maininternational trends in this area, the Science Based Targets initiative (SBTi). As such, a simulation was performed based on the SBTi methodology of sector decarbonisation"Service Buildings", as being one of the most appropriate methodologies available given the nature of the activities developed and which contribute to the objectives of theParis agreement; In 2018, CGD reinforced its procedures for a more comprehensive risk management launching the CGD Exclusion and Sector Limitation Principles; CGDupdated its sustainability management model by integrating good practices and valuing recommendations from international entities for the financial sector, such as the TaskForce on Climate-Related Financial Disclosures (TCFD); CGD successfully integrated for the first time the entire Sustainability Report in the Annual Report, and also for thefirst time reported information according to the 4 strategic pillars of TCFD. (iv.) What aspects of climate change have influenced the strategy: CGD’s strategy isinfluenced by Climate Change, as the company saw a need for adaptation, due to: Stringent regulatory changes; Stakeholder expectation; Low carbon economy opportunitiesand Risk Mitigation. (v.) Influence on short-term strategy: The maintenance of the Environmental Management System, certified by ISO 14001:2015 is subject to annualaudits that verified every year the performance of the system. If the requirements of the standard are not met, CGD may lose the ISO14001 environmental certification. Assuch, a short-term strategy is necessary in order to achieve the reduction of CGD's environmental impact and the maintenance of ISO14001:2015 certification. For example,the measures implemented in 2018 enabled 11% reduction in CGD energy consumption and include, for example, the replacement of circulation working and parking areaand sanitary lamps with LED lighting, the modernization of fans and the replacement of air conditioning units with more efficient ones. (vi.) Influence on long-term strategy:The pursuit the Low Carbon Program objectives is part of CGD's long-term strategy. CGD has defined some long-term objectives, such as: New GHG emissions target,namely to reduce 43% of total GHG emissions (scope 1 and 2) by 2021, compared to 2015. In 2018 CGD has maintained its commitment to commercialize several financinglines that effectively contribute to the reduction of its customers' GHG emissions, covering areas such as Energy Efficiency, Renewable Energies and Sustainable Mobility.

(vii.) Strategic competitive advantage: CGD's response to climate change contributes to the achievement of the bank strategic objective of improving its operationalefficiency in its activity by reducing the operational costs of energy, materials and adapting to the demands and expectations of its stakeholders as more clients/investorschoose sustainability as a key element in their decisions. (viii.) How the Paris Agreement has influenced the business strategy: The Paris agreement was one of themain inputs for the development of CGD's sustainability strategy for the 2018-2020 triennium and for the review of the Low Carbon Program.

C3.1d

(C3.1d) Provide details of your organization’s use of climate-related scenario analysis.

Climate-relatedscenarios

Details

Other,pleasespecify(InternalCGDexercice)

The Paris Agreement signed in 2015 marks a turning point in the economic and financial model, which did not consider the future impacts that climate change would have on future generations and thespeed with which long-term risks became short-term risks. Through the multidisciplinary team of the Environmental Management System, responsible for the Low Carbon Program, therecommendations of the Task Force on Climate-Related Financial Disclosure (TCFD) were used in order to identify (details in the Sustainability Report 2018) some of the environmental risks andopportunities as well as mitigation actions. Subsequently, an internal scenario analysis exercise was carried out for the risks and opportunities previously identified based on an assessment of theirmateriality. CGD has been collecting qualitative and quantitative information on international and national documentation such as the European Commission's Plan to Finance Sustainable Growth, aswell as other documents endorsed by the Portuguese Government (such as for example the Roadmap for Carbon Neutrality 2050) in order to predict some of the implications and opportunities for thefinancial sector in a short-term (0-2 years), medium (2-5 years) and long-term (5- 10 years). In order to support the assessment of the possible impacts on CGD's businesses, it is important to note thatPortugal has committed to achieving 100% reduction of emissions, so that an additional € 86 billion of investment will be needed by 2050, which represents an investment of 2.8 billion per year. This isan opportunity for CGD and might impact positively the revenues from green products and services. In addition, a high growth in the market dynamics supported by various public policies is expected inorder to ensure the objective of carbon neutrality in 2050 for Portugal. Based on this analysis a work plan was outlined, whose scope is included in the performance drivers of the CGD SustainabilityStrategy 2018/2020 (Responsible Business) and the Low Carbon Program (Low Carbon Economy Funding) . While the CGD 2018/2020 Sustainability Strategy approaches a more medium-term (3years), the Low Carbon Program seeks long-term perspective. Of the necessary amount needed to achieve carbon neutrality, 47% will take place in the buildings sector and 39% in the transport sector.It is, thus, evident that much of this investment, at least 80%, will be assured by the private sector: by companies through investments in technologies and processes and by the families in theacquisition of more efficient equipment. As such, access to finance by the financial sector is fundamental. Based on the results and as a response in the short term, CGD has been present in severalworking groups that stimulate the integration of the Sustainable Finance theme in the Economy (such as the European Banking Federation's Sustainable Finance Group and the Sustainable Financingof the Portuguese Banking Association) and has been investing in the development of new green products and services (CGD product portfolio). As an example, “Casa Eficiente” Program waslaunched in 2018 as a financing solution to promote the improvement of the environmental performance of residential buildings, with a special focus on energy and water efficiency, as well as on urbanwaste management. CGD was the first Portuguese financial institution to contract this facility with the European Investment Bank (EIB), providing a financing line of EUR 60 million of which EUR 30million was earmarked for EIB funds.

C4. Targets and performance

C4.1

CDP Page of 3814

(C4.1) Did you have an emissions target that was active in the reporting year?Absolute target

C4.1a

(C4.1a) Provide details of your absolute emissions target(s) and progress made against those targets.

Target reference numberAbs 1

ScopeScope 1 +2 (market-based)

% emissions in Scope96

Targeted % reduction from base year43

Base year2015

Start year2015

Base year emissions covered by target (metric tons CO2e)41832

Target year2021

Is this a science-based target?Yes, we consider this a science-based target, but this target has not been approved as science-based by the Science-Based Targets initiative

% of target achieved100

Target statusUnderway

Please explainCGD has updated its ongoing GHG reduction target based on the year 2015. CGD have now an absolute GHG reduction target for its operations in Portugal, namely a 43%reduction by 2021 of its scope 1+2 GHG emissions, compared to the base year 2015. The target GHG process took into account one of the main international trends in thisarea, the Science Based Targets initiative (SBTi). As such, a simulation was performed based on the SBTi methodology of sector decarbonisation "Service Buildings", asbeing one of the most appropriate methodologies available given the nature of the activities developed and which contribute to the objectives of the Paris agreement.Additional details in CGD's sustainability report 2018.

C4.2

CDP Page of 3815

(C4.2) Provide details of other key climate-related targets not already reported in question C4.1/a/b.

TargetOther, please specify (Environmental Management System certified by ISO14001)

KPI – Metric numeratorCGD defined the objective of maintain an EMS at the headquarters building, in order to manage the environmental impacts associated with CGD's operations, keeping itcertified according to ISO14001.

KPI – Metric denominator (intensity targets only)

Base year2014

Start year2018

Target year2019

KPI in baseline year0

KPI in target year100

% achieved in reporting year100

Target StatusUnderway

Please explainIn 2018, the external audit of the Environmental Management System was successfully carried out, and CGD obtained the validation of the ISO 14001:2015 certification bythe external responsible entity APCER. This audit is conducted annually.

Part of emissions target

Is this target part of an overarching initiative?No, it's not part of an overarching initiative

C4.3

(C4.3) Did you have emissions reduction initiatives that were active within the reporting year? Note that this can include those in the planning and/orimplementation phases.Yes

C4.3a

(C4.3a) Identify the total number of initiatives at each stage of development, and for those in the implementation stages, the estimated CO2e savings.

Number of initiatives Total estimated annual CO2e savings in metric tonnes CO2e (only for rows marked *)

Under investigation 0 0

To be implemented* 1 884

Implementation commenced* 4 31

Implemented* 33 472

Not to be implemented 0 0

C4.3b

CDP Page of 3816

(C4.3b) Provide details on the initiatives implemented in the reporting year in the table below.

Initiative typeEnergy efficiency: Building services

Description of initiativeOther, please specify (Energy efficiency measures (Central Buildings))

Estimated annual CO2e savings (metric tonnes CO2e)445

ScopeScope 2 (market-based)

Voluntary/MandatoryVoluntary

Annual monetary savings (unit currency – as specified in C0.4)170981

Investment required (unit currency – as specified in C0.4)424657

Payback period1-3 years

Estimated lifetime of the initiative11-15 years

CommentCGD aims to make its central buildings gradualy more efficient. As such, several energy efficiency measures were implemented in Headoffices , main buildings andbranches in 2018 (e.g. Replacement of circulation working and parking areas and sanitary installations LED lighting, Ventilation Modernization, among others). The set ofmeasures implemented in the headquarters building of CGD allowed an estimated reduction of 1,942,524 kWh/year. These measures are important in order to achieveCGD's GHG reduction targets.

Initiative typeEnergy efficiency: Building services

Description of initiativeOther, please specify (Energy efficiency measures (Branch Network))

Estimated annual CO2e savings (metric tonnes CO2e)27

ScopeScope 2 (market-based)

Voluntary/MandatoryVoluntary

Annual monetary savings (unit currency – as specified in C0.4)13847

Investment required (unit currency – as specified in C0.4)139081

Payback period4 - 10 years

Estimated lifetime of the initiative11-15 years

CommentCGD has taken advantage of the restructuring process of its network branches to gradually implement measures aimed at increasing energy efficiency, such as replacingmore efficient air conditioning units and replacing conventional lighting with LEDs. The set of measures implemented allowed an estimated reduction of 117,249 kWh / year.

C4.3c

(C4.3c) What methods do you use to drive investment in emissions reduction activities?

Method Comment

Financialoptimizationcalculations

CGD has a Strategic Plan in place until 2020. The objective of the measures contained in the Strategic Plan is to improve CGD's overall performance in order to ensure its long-term sustainability andthe creation of value for its shareholder. Thereby, the goal of cost reduction turns out to be one of the main drivers in adopting efficient initiatives in CGD's operations. CGD's energy efficiency teamactively seeks pathways to make CGD's buildings more efficient, with lower energy consumption, lower costs and lower environmental impact. For example, in the process of identifying eficientmeasures, CGD's energy efficiency team performs a careful analysis prioritising projects with lower payback.

Employeeengagement

In order to increase the level of involvement of its employees, CGD has been developing several campaigns within its Environmental Management System. For the success of this system, it has beenfundamental the development and the participation of the employees in the sense of promoting and integrating, on their daily routines, an ethical and responsible management of the resources thatCGD makes available. In 2018 an internal communication campaign "Environmental Saving Solutions" was launched to reinforce the importance of good environmental practices, with theparticipation of employees as embassadors. Also in 2018 is the INOVE Program, exclusively aimed at employees, challenging the participation and contribution to building the future of CGD,stimulating the creation and presentation of original and innovative ideas in areas of strategic interest, including ideas for reduction of environmental impact.

Dedicatedbudget forenergyefficiency

The decision for energy efficiency is based on combined criteria of cost reduction and environmental performance enhancement. CGD has been investing for several years in energy efficiencymeasures, such as replacement and optimisation of HVAC systems, replacement and optimization of lighting systems, installation of photovoltaic systems, among others. Among the variousmeasures that have already been implemented, we highlight the solar thermal power station at CGD's Headquarters Building, the largest center in the country applied to a service building and themost visible measure for the reduction of CO2 emissions. The CGD Headquarters solar plant is composed of 158 solar collectors installed in 1,600 m2 of the roof of the building on Avenida João XXIin Lisbon, allowing the production of energy that is used to heat and cool (through a chiller of absorption) water for air conditioning systems, sanitary facilities and kitchen of the cafeteria. Since itsentry into operation in 2008 and through November 2018 (inclusive), the headquarters of the Sede Building has produced more than 10,440,900 kWh (10.4 GWh) of renewable energy.

CDP Page of 3817

C4.5

(C4.5) Do you classify any of your existing goods and/or services as low-carbon products or do they enable a third party to avoid GHG emissions?Yes

C4.5a

(C4.5a) Provide details of your products and/or services that you classify as low-carbon products or that enable a third party to avoid GHG emissions.

Level of aggregationGroup of products

Description of product/Group of productsThe development of products and financial solutions that promote the transition to a more sustainable economic model is a key vector of the Low Carbon Programme. CGDhas continued to market several financing lines that effectively contribute to reduce its customers' GHG emissions, covering areas such as Energy Efficiency, RenewableEnergy and Sustainable Mobility. Within the scope of products and services with environmental benefits we highlight: - Caixa Viva Card: A bank debit card that allows theautomatic payment of trips in the public transports of the Lisbon Metropolitan Area (subway, bus, boat or train). It was designed as an incentive to the use of publictransportation. This card recorded 102 million euros in transactions in 2018. - Caixagest Socially-Responsible Investment (SRI): The main objective of the fund is to giveparticipants access to a diversified portfolio of assets with varying degrees of risk and/or profitability, seeking to invest in companies with the best practices in areas such asrespect for human rights, environmental impact or human resources management and excluding entities operating in sectors regarded as controversial (with a negativesocial impact). At the end of 2018, there were 87.3 million euros under management. - Caixagest Energias Renováveis (Renewable Energy) Alternative Open-EndInvestment Fund: The fund is aimed at financing investment projects that contribute to increase the production of renewable and non-polluting energy, reducing CO2emissions and, consequently, improving the quality of the environment. At the end of 2018, there were 8.3 million euros under management. - Caixa Empresas EnergiasRenováveis (Renewable Energy): This solution aims to promote investment in the area of renewable energy - solar thermal and photovoltaic, hydro and wind technologies,with 20 thousand euros in loans granted.

Are these low-carbon product(s) or do they enable avoided emissions?Avoided emissions

Taxonomy, project or methodology used to classify product(s) as low-carbon or to calculate avoided emissionsOther, please specify (EMS ISO 14001:2015 - life cycle assessment aproach)

% revenue from low carbon product(s) in the reporting year0.1

CommentIn 2018, the Efficient House Program 2020 was launched as an initiative of the Portuguese government. The Efficient House Program aims to support operations thatimprove the environmental performance of private residential buildings, with a focus on energy and water efficiency as well as waste management. CGD associated itselfwith this initiative, which was based on its ethical conduct and social responsibility, and was the first Portuguese financial institution to contract with the EIB this facility. Thisprogram is co-financed by the EIB in the amount of € 100M.

C5. Emissions methodology

C5.1

CDP Page of 3818

(C5.1) Provide your base year and base year emissions (Scopes 1 and 2).

Scope 1

Base year startJanuary 1 2015

Base year endDecember 31 2015

Base year emissions (metric tons CO2e)4878

Comment

Scope 2 (location-based)




Comment

Scope 2 (market-based)




Comment

C5.2

(C5.2) Select the name of the standard, protocol, or methodology you have used to collect activity data and calculate Scope 1 and Scope 2 emissions.The Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (Revised Edition)

C6. Emissions data

C6.1

(C6.1) What were your organization’s gross global Scope 1 emissions in metric tons CO2e?

Reporting year

Gross global Scope 1 emissions (metric tons CO2e)2050

Start dateJanuary 1 2018

End dateDecember 31 2018

Comment

C6.2

(C6.2) Describe your organization’s approach to reporting Scope 2 emissions.

Row 1

Scope 2, location-based We are not reporting a Scope 2, location-based figure

Scope 2, market-basedWe are reporting a Scope 2, market-based figure

CommentCGD provides a market-based scope 2 figure once the company calculates its scope 2 GHG emissions based on supplier-specific data (specific emissions factors providedby suppliers, namely in Portugal).

CDP Page of 3819

C6.3

(C6.3) What were your organization’s gross global Scope 2 emissions in metric tons CO2e?

Reporting year

Scope 2, location-based<Not Applicable>

Scope 2, market-based (if applicable)15282

Start dateJanuary 1 2018

End dateDecember 31 2018

Comment

C6.4

(C6.4) Are there any sources (e.g. facilities, specific GHGs, activities, geographies, etc.) of Scope 1 and Scope 2 emissions that are within your selected reportingboundary which are not included in your disclosure?No

C6.5

(C6.5) Account for your organization’s Scope 3 emissions, disclosing and explaining any exclusions.

Purchased goods and services

Evaluation statusNot relevant, explanation provided

Metric tonnes CO2e<Not Applicable>

Emissions calculation methodology<Not Applicable>

Percentage of emissions calculated using data obtained from suppliers or value chain partners<Not Applicable>

ExplanationCGD does not have the information and resources needed to proceed to an accountability approach of the emissions associated with the purchased goods and serviceseach year, given the complexity of the process of gathering information and the specificities of the financial deliverables and portfolio. The amount of effort to collate andcalculate this data is not justified by the level of materiality to our overall environmental impact as compared to other sources of sources of scope 3 emissions that we report.Nevertheless, CGD intends in the short/medium term to carry out a reassessment of the scope 3 emissions categories that can be included/considered.

Capital goods





ExplanationAs a financial instituition CGD considers that its capital goods are the buildings in which it operates. In this way, the calculation of the indiret emissions associated to theprodution of eletricity are considered and calculated in the scope 2. In any case, CGD intends in the short/medium term to carry out a reassessment of the scope 3emissions categories that can be included/excluded.

CDP Page of 3820

Fuel-and-energy-related activities (not included in Scope 1 or 2)





ExplanationAs a financial instituition CGD does not have fuel and energy related ativities not included in scope 1 and 2 ( scope 1 - direct emissions resulting from the consumption offuel in the installations and by the car fleet; scope 2 - indirect emissions resulting from the production of eletricity). In any case, CGD intends in the short / medium term tocarry out a reassessment of the scope 3 emissions categories that can be included.

Upstream transportation and distribution





ExplanationCGD does not have the information and resources needed to account for the emissions associated with upstream transportation and distribution each year, given thecomplexity of the process of gathering information. Emissions associated with this activity are considered as not material. CGD intends in the short/medium term to carryout a reassessment of the scope 3 emissions categories that can be included.

Waste generated in operations

Evaluation statusNot relevant, calculated

Metric tonnes CO2e67

Emissions calculation methodologyCGD calculates its greenhouse gas emissions related to its activity according to the guidelines of the Greenhouse Gas Protocol (GHG Protocol) and Guidelines toDefra/DECC's GHG Conversion Factors for company reporting.

Percentage of emissions calculated using data obtained from suppliers or value chain partners0

ExplanationThe calculation of emissions for waste generated in operations is associated with landfill, and for the first time the scope included the recycling/recovery. The cards are oneof main products of CGD, to mitigate the impact of its product CGD has implemented a recycling circuit that since the beginning of the project (2015) has already sent forrecycling more than 15 tons of cards, these cards give rise to urban furniture which is subsequently handed over to social institutions.

Business travel

Evaluation statusRelevant, calculated

Metric tonnes CO2e1282

Emissions calculation methodologyCGD calculates its greenhouse gas emissions related to its activity according to the guidelines of the Greenhouse Gas Protocol (GHG Protocol) and Guidelines toDefra/DECC's GHG Conversion Factors for company reporting.

Percentage of emissions calculated using data obtained from suppliers or value chain partners0

ExplanationBusiness travel emissions are associated to plane, train, boat and individual transport (own car and taxi).

CDP Page of 3821

Employee commuting





ExplanationGHG emissions associated with this ativity are not relevant as CGD estimates these emissions are not material. Through awareness raising to good practices of theEnvironmental Management System CGD tries to stimulate the use of public transport. CGD intends in the short / medium term to carry out a reassessment of the scope 3emissions categories that can be included.

Upstream leased assets





ExplanationGHG emissions associated with this ativity are not relevant as CGD estimates these emissions are not material.

Downstream transportation and distribution





ExplanationAs a financial institution, CGD considers that downstream transportation and distribution is not material for the distribution of its services. CGD intends in the short/mediumterm to carry out a reassessment of the scope 3 emissions categories that can be included.

Processing of sold products





ExplanationNot relevant/Not applicable. This activity is not applicable to CGD as the products/services sold by the bank are not processed or transformed by a third party.

Use of sold products





ExplanationAs a financial institution, CGD considered that emissions associated to this activity are immaterial. CGD intends in the short / medium term to carry out a reassessment ofthe scope 3 emissions categories that can be included.

CDP Page of 3822

End of life treatment of sold products





ExplanationAs a financial institution, CGD considered that emissions associated to this activity are immaterial. Anyway, CGD has a project for the recycling of bank cards, transmitted tocustomers when a new card is issued, allows to turn bank cards into urban furniture that reverts to social institutions. CGD intends in the short / medium term to carry out areassessment of the scope 3 emissions categories that can be included.

Downstream leased assets





ExplanationNot relevant. CGD intends in the short/medium term to carry out a reassessment of the scope 3 emissions categories that can be included.

Franchises





ExplanationNot applicable. This ativity is not applicable to CGD as the bank does not have franchises.

Investments

Evaluation statusRelevant, not yet calculated




ExplanationAs a result of the international context of sustainable finance, it is very likely that this category will become relevant. CGD intends in the short/medium term to carry out areassessment of the scope 3 emissions categories that can be included.

Other (upstream)





ExplanationNo other sources identified. CGD intends in the short / medium term to carry out a reassessment of the scope 3 emissions categories that can be included.

CDP Page of 3823

Other (downstream)





ExplanationNo other sources identified. CGD intends in the short/medium term to carry out a reassessment of the scope 3 emissions categories that can be included.

C6.7

(C6.7) Are carbon dioxide emissions from biologically sequestered carbon relevant to your organization?No

C6.10

(C6.10) Describe your gross global combined Scope 1 and 2 emissions for the reporting year in metric tons CO2e per unit currency total revenue and provide anyadditional intensity metrics that are appropriate to your business operations.

Intensity figure0.00001289

Metric numerator (Gross global combined Scope 1 and 2 emissions)17331

Metric denominatorunit total revenue

Metric denominator: Unit total1344552184

Scope 2 figure usedMarket-based

% change from previous year40

Direction of changeDecreased

Reason for changeThis performance metric decreased 40% compared to previous year (from 0,0000215 to 0,0000129) due to a decrease (-8,7%) in total revenues (operating income). Globalscope 1+2 GHG emissions had a 45% decrease (from 31.658 t CO2e to 17.331 t CO2e, decrease of 14.327 t CO2e), mainly due to the implementation of energy efficiencymeasures and reduction of the car fleet which allowed a significant reduction of electricity and fuel consumption. Regarding Emission Reduction activities, CGD has beeninvesting in the production of renewable energy in its corporate buildings and commercial network, such as: 1. Solar thermal plant at the Headoffice: collectors installedacross the 1.600 m2 roof at Headoffice produce energy for heating and cooling the water necessary for the centralized air-conditioning and sanitary facilities (2.658 GJproduced in 2018). 2. Solar photovoltaic microgeneration within the branch network: installation of solar photovoltaic panels in CGD branches. A total of 1.450 panels(1.534 GJ produced in 2018).

C7. Emissions breakdowns

C7.1

(C7.1) Does your organization break down its Scope 1 emissions by greenhouse gas type?Yes

C7.1a

CDP Page of 3824

(C7.1a) Break down your total gross global Scope 1 emissions by greenhouse gas type and provide the source of each used greenhouse warming potential(GWP).

Greenhouse gas Scope 1 emissions (metric tonsof CO2e)

GWP Reference

CO2 1956.73 Other, please specify (Agência Portuguesa do Ambiente - Portuguese National Inventory Report on Greenhouse Gases 1990-2015, 2017 (p. 1-7,table 1.1))

CH4 0.7 Other, please specify (Agência Portuguesa do Ambiente - Portuguese National Inventory Report on Greenhouse Gases 1990-2015, 2017 (p. 1-7,table 1.1))

N2O 0.53 Other, please specify (Agência Portuguesa do Ambiente - Portuguese National Inventory Report on Greenhouse Gases 1990-2015, 2017 (p. 1-7,table 1.1))

Other, please specify(R134A)

21.45 Other, please specify (Agência Portuguesa do Ambiente – F-gases Inventory available in http://www.apambiente.pt/index.php?ref=17&subref=148,annex BD_FGases_20150319.pdf)


0 Other, please specify (Agência Portuguesa do Ambiente – F-gases Inventory available in http://www.apambiente.pt/index.php?ref=17&subref=148,annex BD_FGases_20150319.pdf)

Other, please specify(R407C)


Other, please specify(R410)










Other, please specify(R422D)






C7.2

(C7.2) Break down your total gross global Scope 1 emissions by country/region.

Country/Region Scope 1 emissions (metric tons CO2e)

Portugal 1813

Cabo Verde 221

Brazil 15

C7.3

(C7.3) Indicate which gross global Scope 1 emissions breakdowns you are able to provide.By activity

C7.3c

(C7.3c) Break down your total gross global Scope 1 emissions by business activity.

Activity Scope 1 emissions (metric tons CO2e)

Direct emissions resulting from fuel consumption at facilities (t CO2e) 118

Direct emissions resulting from fuel consumption by CGD’s vehicle fleet (t CO2e) 1840

Direct emissions resulting from f-gas leaks from equipment at facilities (t CO2e) 91

C7.5

(C7.5) Break down your total gross global Scope 2 emissions by country/region.

Country/Region Scope 2, location-based(metric tons CO2e)

Scope 2, market-based(metric tons CO2e)

Purchased and consumed electricity, heat,steam or cooling (MWh)

Purchased and consumed low-carbon electricity, heat, steam or coolingaccounted in market-based approach (MWh)

Portugal 0 14133 60145 36576

Cabo Verde 0 1137 2430 0

Brazil 0 12 156 0

CDP Page of 3825

C7.6

(C7.6) Indicate which gross global Scope 2 emissions breakdowns you are able to provide.By facility

C7.6b

(C7.6b) Break down your total gross global Scope 2 emissions by business facility.

Facility Scope 2 location-based emissions (metric tons CO2e) Scope 2, market-based emissions (metric tons CO2e)

Central buildings 0 5378.59

Commercial network 0 9902.87

C7.9

(C7.9) How do your gross global emissions (Scope 1 and 2 combined) for the reporting year compare to those of the previous reporting year?Decreased

C7.9a

(C7.9a) Identify the reasons for any change in your gross global emissions (Scope 1 and 2 combined) and for each of them specify how your emissions compareto the previous year.

Change inemissions(metrictonsCO2e)

Directionof change

Emissionsvalue(percentage)

Please explain calculation

Change inrenewableenergyconsumption

<NotApplicable>

Otheremissionsreductionactivities

12200 Decreased 38.5 In 2018, absolute scope 1 and 2 GHG emissions combined decreased 45,25% compared to previous year (from 31,656 t CO2e to 17331 t CO2e, decrease14325 t CO2e. 14325/31656*100= 45,25% ). Disaggregating this decrease (45,25%) by reason, emissions were: a) Reduce 38,5% (approx. 12200 t CO2e)due to energy efficiency activities implemented (e.g. car fleet restructuring, energy efficiency measures implemented at central buildings and branches likereplacement of fluorescent lighting by LED, modernization of UTA fans, among others) and change to a supplier of energy with a lower emission factor.

Divestment <NotApplicable>

Acquisitions <NotApplicable>

Mergers <NotApplicable>

Change inoutput

<NotApplicable>

Change inmethodology

2130 Pleaseselect

6.7 b) Reduce 6,7% (approx. 2130 t CO2e) due to change in calculation methodolody. By 2017, CGD calculated the amount of f-gases released by estimationthrough information on the equipment and type of f-gases covered by the Kyoto Protocol, assuming na annual loss factor of 3%. In 2018, CGD carried out thereal inventory of released gases.

Change inboundary

<NotApplicable>

Change inphysicaloperatingconditions

<NotApplicable>

Unidentified <NotApplicable>

Other 5 Increased 0.02 c) Increase 0,02% (approx. 5 t CO2 e) because 2017 was a year with higher temperatures than usual, in 2018 the tempreratutes normalized and consumptionof fuel in the building turned to be similar to the other years. How the consumption of fuel in the winter are affected by external temperature, in 2017consumption of fuel decreased.

C7.9b

(C7.9b) Are your emissions performance calculations in C7.9 and C7.9a based on a location-based Scope 2 emissions figure or a market-based Scope 2emissions figure?Market-based

CDP Page of 3826

C8. Energy

C8.1

(C8.1) What percentage of your total operational spend in the reporting year was on energy?More than 0% but less than or equal to 5%

C8.2

(C8.2) Select which energy-related activities your organization has undertaken.

Indicate whether your organization undertakes this energy-related activity

Consumption of fuel (excluding feedstocks) Yes

Consumption of purchased or acquired electricity Yes

Consumption of purchased or acquired heat No

Consumption of purchased or acquired steam No

Consumption of purchased or acquired cooling No

Generation of electricity, heat, steam, or cooling Yes

C8.2a

(C8.2a) Report your organization’s energy consumption totals (excluding feedstocks) in MWh.

Heating value MWh from renewable sources MWh from non-renewable sources Total MWh

Consumption of fuel (excluding feedstock) LHV (lower heating value) 7515.01 7515.01

Consumption of purchased or acquired electricity <Not Applicable> 36575.58 26155.85 62731.44

Consumption of purchased or acquired heat <Not Applicable> <Not Applicable> <Not Applicable> <Not Applicable>

Consumption of purchased or acquired steam <Not Applicable> <Not Applicable> <Not Applicable> <Not Applicable>

Consumption of purchased or acquired cooling <Not Applicable> <Not Applicable> <Not Applicable> <Not Applicable>

Consumption of self-generated non-fuel renewable energy <Not Applicable> 738.33 <Not Applicable> 738.33

Total energy consumption <Not Applicable> 37313.92 33670.86 70984.78

C8.2b

(C8.2b) Select the applications of your organization’s consumption of fuel.

Indicate whether your organization undertakes this fuel application

Consumption of fuel for the generation of electricity Yes

Consumption of fuel for the generation of heat Yes

Consumption of fuel for the generation of steam No

Consumption of fuel for the generation of cooling No

Consumption of fuel for co-generation or tri-generation No

C8.2c

CDP Page of 3827

(C8.2c) State how much fuel in MWh your organization has consumed (excluding feedstocks) by fuel type.

Fuels (excluding feedstocks)Diesel

Heating valueLHV (lower heating value)

Total fuel MWh consumed by the organization6835.28

MWh fuel consumed for self-generation of electricity148.33

MWh fuel consumed for self-generation of heat0

MWh fuel consumed for self-generation of steam<Not Applicable>

MWh fuel consumed for self-generation of cooling<Not Applicable>

MWh fuel consumed for self-cogeneration or self-trigeneration<Not Applicable>

Comment

Fuels (excluding feedstocks)Natural Gas



MWh fuel consumed for self-generation of electricity0

MWh fuel consumed for self-generation of heat386.94




Comment

Fuels (excluding feedstocks)Motor Gasoline



MWh fuel consumed for self-generation of electricity0

MWh fuel consumed for self-generation of heat0




Comment

C8.2d

CDP Page of 3828

(C8.2d) List the average emission factors of the fuels reported in C8.2c.

Diesel

Emission factor0.0741

Unitmetric tons CO2e per GJ

Emission factor sourceAPA (2018) Portuguese National Inventory Report on Greenhouse Gases 1990-2016 (pg. 189) https://unfccc.int/documents/65569

Comment

Motor Gasoline




Comment

Natural Gas




Comment

C8.2e

(C8.2e) Provide details on the electricity, heat, steam, and cooling your organization has generated and consumed in the reporting year.

Total Gross generation(MWh)

Generation that is consumed by theorganization (MWh)

Gross generation from renewable sources(MWh)

Generation from renewable sources that is consumed by theorganization (MWh)

Electricity 426.11 0 426.11 0

Heat 738.33 738.33 738.33 738.33

Steam 0 0 0 0

Cooling 0 0 0 0

C8.2f

(C8.2f) Provide details on the electricity, heat, steam and/or cooling amounts that were accounted for at a low-carbon emission factor in the market-based Scope 2figure reported in C6.3.

Basis for applying a low-carbon emission factorOff-grid energy consumption from an on-site installation or through a direct line to an off-site generator owned by another company

Low-carbon technology typeSolar PV

Region of consumption of low-carbon electricity, heat, steam or coolingEurope

MWh consumed associated with low-carbon electricity, heat, steam or cooling738.33

Emission factor (in units of metric tons CO2e per MWh)0

CommentCGD produced 738 MWh of solar thermal energy in its headquarter building and 426 MWh of solar photo-voltaic energy in the commercial network branches, totalizing1164 MWh in 2018. Total electricity produced through the photo-voltaic pannels is sold to the grid.

C9. Additional metrics

CDP Page of 3829

C9.1

(C9.1) Provide any additional climate-related metrics relevant to your business.

DescriptionWaste

Metric value67

Metric numeratortco2e

Metric denominator (intensity metric only)


Direction of changeIncreased

Please explainIn 2018 the emissions from recycling / energy recovery were also included.

DescriptionOther, please specify (Work-related trips)

Metric value1283

Metric numeratortco2e

Metric denominator (intensity metric only)


Direction of changeIncreased

Please explainThe aeroplane travels increased in the 2018.

C10. Verification

C10.1

(C10.1) Indicate the verification/assurance status that applies to your reported emissions.

Verification/assurance status

Scope 1 Third-party verification or assurance process in place

Scope 2 (location-based or market-based) Third-party verification or assurance process in place

Scope 3 Third-party verification or assurance process in place

C10.1a

CDP Page of 3830

(C10.1a) Provide further details of the verification/assurance undertaken for your Scope 1 and/or Scope 2 emissions and attach the relevant statements.

ScopeScope 1

Verification or assurance cycle in placeAnnual process

Status in the current reporting yearComplete

Type of verification or assuranceLimited assurance

Attach the statementAnnual-Report-CGD-2018.pdf

Page/ section referenceThe document attached is the CGD Annual Report 2018, with includes the CGD sustainability report 2018. Scope 1 and 2 and emissions are reported in pages 613 and623. The Independent Limited Assurance Report, which covers ALL the sustainability information (including GHG emissions), is on pages 672-673.

Relevant standardISAE3000

Proportion of reported emissions verified (%)100

ScopeScope 2 market-based



Type of verification or assuranceLimited assurance


Page/ section referenceThe document attached is the CGD Annual Report 2018, with includes the CGD sustainability report 2018. Scope 1 and 2 and emissions are reported in pages 613 and623. The Independent Limited Assurance Report, which covers ALL the sustainability information (including GHG emissions), is on pages 672-673.


Proportion of reported emissions verified (%)100

C10.1b

(C10.1b) Provide further details of the verification/assurance undertaken for your Scope 3 emissions and attach the relevant statements.

ScopeScope 3- at least one applicable category




Page/section referenceThe document attached is the CGD Annual Report 2018, with includes the CGD sustainability report 2018. Scope 3 GHG emissions are reported in pages 613 and 623. TheIndependent Limited Assurance Report, which covers ALL the sustainability information (including GHG emissions), is on pages 672-673.


C10.2

(C10.2) Do you verify any climate-related information reported in your CDP disclosure other than the emissions figures reported in C6.1, C6.3, and C6.5?Yes

CDP Page of 3831

C10.2a

(C10.2a) Which data points within your CDP disclosure have been verified, and which verification standards were used?

Disclosuremoduleverificationrelates to

Data verified Verificationstandard

Please explain

C1.Governance

Other, pleasespecify (Alignmentwith Task-force onClimate-relatedFinancialDisclosure (TCFD)recommendations)

ISAE 3000 CGD, as a conscious institution of the challenges that climate change represents, takes an active role in transparency on reporting climate-related information andraising awareness of/mobilising its stakeholders on environmental issues. In 2018 CGD reported for the first time some of its performance at the level of the 4strategic pillars of Task-force on Climate-related Financial Disclosure (CGD Annual Report - pages 538-539)

C2. Risksandopportunities

Other, pleasespecify (Climaterisks andOpportunities)

ISAE 3000 CGD followed the guidelines of the Task-force on Climate-related Financial Disclosure (TCFD) to identify some of the environmental risks and opportunities and thecorresponding mitigation measures (CGD Annual Report - pages 605-606).

C3.Businessstrategy

Other, pleasespecify (CGD LowCarbonProgramme)

ISAE 3000 The Low Carbon Programme materializes CGD´s strategy for adaptation to climate change, aimed at reducing the environmental impact of its activities, promotingsustainable development and disseminating good practices among its stakeholders. In 2018, the objectives and lines of action of the Low Carbon Programme werereviewed with the aim of ensuring a better adaptation to international trends and recommendations, as well as a better alignment with its peers and the expectationsof both stakeholders and investors (CGD Annual Report - pages 604-605).

C4. Targetsandperformance

Financial or otherbase year datapoints used to seta science-basedtarget

ISAE 3000 The review made to the Low Carbon Program also sought to establish more stringent environmental targets, in particular the definition of a new objective gasemissions reduction Greenhouse (GHG) by replacing the currently in effect. For the process of defining a new GHG reduction target, one of the major internationaltrends in this area, the Science Based Targets Initiative (SBTi), was analyzed. As such, a simulation was performed based on the SBTi methodology of sectordecarbonisation "Service Buildings", as being one of the most appropriate methodologies available given the nature of the activities developed. According to thesimulation of the SBTi tool, CGD S.A. would have to reduce 38% of total GHG emissions (scope 1 and 2) by 2021, compared to 2015. The Institution aims for aleading position in of climate action in the financial system, defining for this purpose a reduction objective more ambitious than the one presented by the referred tool,in order to boost the development of projects aimed at the reduction of GHG emissions. In this way, a level of five percentage points was assumed to be higher thanthe value simulated by the SBTi tool, corresponding to a target of a reduction of 43% of CGD S.A. (Portugal)total GHG emissions (scope 1 and 2) by 2021,compared to 2015. CGD's performance against this objective is duly reported in CGD Annual Report / Sustainability report (Pages 604-605).

C3.Businessstrategy

Renewableenergy products

ISAE 3000 CGD follows trends, best pratices and opportunities generated by new markets and agents of change, integrating aspects of this evolution in its portfolio anddeveloping a financial offer that facilitates access to environmentally responsible products. The development of financial products and solutions that promote thetransition to a model sustainable economic development is thus a key vector of the Low Carbon Program. In 2018, CGD continued to commercialize severalfinancing lines that effectively contribute to reducing its customers' GHG emissions, covering areas such as Energy Efficiency, Renewable Energies and SustainableMobility (CGD Annual Report - pages 555-556).

C11. Carbon pricing

C11.1

(C11.1) Are any of your operations or activities regulated by a carbon pricing system (i.e. ETS, Cap & Trade or Carbon Tax)?No, but we anticipate being regulated in the next three years

C11.1d

CDP Page of 3832

(C11.1d) What is your strategy for complying with the systems in which you participate or anticipate participating?

The European Commission announced in 2018 its Action Plan for a financial system to support the European Union agenda for climate and sustainable development. Thedocument, developed on the basis of the recommendations of the High Level Expert Group on Sustainable Financing, aims to strengthen the role of financing for a prosperousand sustainable economy and represents a significant step forward in the implementation of the Paris Agreement and the EU Agenda for sustainable development. This planwill requires a particular effort from the European authorities, taking into account European regulatory initiatives under way, covering the financial sector (capital market,insurance and banking), such as the Principles for Responsible Investment (UNPRI), the Green Bond Principles , the Social Bond Principles, the Sustainability BondGuidelines, the Green Loan Principles (ICMA) and the Financial Stability Board (FSB) Recommendations.

In addition, a number of additional regulatory measures, such as the European Taxonomy and the EU Ecolabel Framework, are expected to be introduced in 2020/2021,which may directly and indirectly impact CGD, in particular through its financial products and services. The taxonomy, for example, will be a list of economic activities that canbe considered environmentally sustainable for investment purposes. For the environmental objective climate change mitigation, the activities that would qualify are expectedto contribute to the transition to a low-carbon economy and reaching the goals of the Paris Agreement.

Some of the regulatory trends will imply a greater focus on the life cycle of financial products and services by accounting for associated GHG emissions.

In order to develop a strategy to respond to future applicable regulatory trends, CGD is present in several working groups, such as:

-The European Banking Association's (EBF) Sustainable Finance Working Group (SFWG) - Representing the Portuguese Banking Association, CGD is part of the"Sustainable Finance" working group and the "Taxonomy" sub-group.

-Corporate Social Responsibility and Sustainable Development Committee (CSR-SD), European Savings Bank Group - Working Group oriented towards theconsequent reflection, the alignment and discussion of the European regulations that aim at the financial sector.

- Working Group on "Sustainable Financing" of the Portuguese Banking Association - A CGD integrates, along with the representatives of all banks in Portugal, theworking group which aims to disseminate the European agenda for sustainable finance in an informative and constructive in terms of the need for response, wheneverrequired by European entities, namely EBF and EC, and to anticipate the impacts and adaptations to be considered.

Based on the inputs received in these working groups, CGD is developing initiatives within its 2018/2020 Sustainability strategy to respond to key regulatory trends.

C11.2

(C11.2) Has your organization originated or purchased any project-based carbon credits within the reporting period?No

C11.3

(C11.3) Does your organization use an internal price on carbon?No, but we anticipate doing so in the next two years

C12. Engagement

C12.1

(C12.1) Do you engage with your value chain on climate-related issues?Yes, our suppliersYes, other partners in the value chain

C12.1a

CDP Page of 3833

(C12.1a) Provide details of your climate-related supplier engagement strategy.

Type of engagementCompliance & onboarding

Details of engagementIncluded climate change in supplier selection / management mechanism

% of suppliers by number93.5

% total procurement spend (direct and indirect)92.3

% Scope 3 emissions as reported in C6.50

Rationale for the coverage of your engagementSupplier management is part of CGD´s Sustainability Strategy, as the supply chain and its agents contribute to the identification of CGD´s environmental and social impactsthat are indirectly reflected on its suppliers activities. Therefore, CGD provides its suppliers with Engagement Letters, signed by the parties involved, and draft contracts thatalways include the following documents and clauses: i) Ethical principles and good business practices - in all contracts, except in specific cases where the draft contract inprovided by the suppliers. These contracts and those concerning one-off purchases do not include this document. ii) Handbook of good environmental, safety and healthpractices for suppliers - in all servisse provision agreements with "in-house" suppliers. iii) Some of the contracts may also include specific clauses on waste clauses, namelybuilding maintenance, multifunctional and waste management operation (OGR) contracts, covering services listed in the specific requirement Matrix. Through itsEnvironmental Management System CGD has been developing initiatives aimed at progressively increasing the number of contracts with environmental clauses as well asinvolving suppliers resident in its Headquarters Building in the process of auditing (internal and external) of the Environmental Management System in order to identifyingopportunities. In 2017, 68.6% of the new contracts had environmental clauses, and for 2018 an objective was set to increase this value.

Impact of engagement, including measures of successBy working closely with its suppliers CGD can reduces its environmental and social impact and positions as a bank that promotes sustainability practices regarding its valuechain, working towards risk reduction (e. g. reputational issues). Together with the CGD procurement area, an objetive was defined to increase the number of contracts withenvironmental clauses. In 2018, CGD procurement area concluded 247 new contracts, 93,5% of which include environmental clauses, an increase of 36% compared to2017. For the success of this measure was fundamental the articulation between the several internal areas of CGD, promoted and invigorated by the EnvironmentalManagement System team which also includes the area of supplier management. As a complement to the environmental clauses, it is important to mention thepredisposition of suppliers to participate in collaborative initiatives with CGD, such as the 3 suppliers that participated in audits of CGD's Environmental ManagementSystem. These audits have identified opportunities of improvement for resident suppliers (eg in the area of organization and waste sorting) and that suppliers have madethemselves available to correct / improve.

CommentThe information on suppliers is detailed in the CGD Anmual Report/Sustainability Report 2018 (pages 571-572)

C12.1c

(C12.1c) Give details of your climate-related engagement strategy with other partners in the value chain.

Under the Low Carbon Programme, CGD has made a commitment to raise the stakeholders awareness of the importance of adopting good environmental practices (vector nº4) constituting one of the main engagement method of the company with the value chain. More than raising awareness to climate change, CGD seeks to influence the valuechain and society in general throughout behaviors and practices that reduce GHG emissions and promote a more sustainable attitude. CGD recognises that the sustainabledevelopment of its activity is valued by continuous dialogue with stakeholders, fostered by transparent and trustful relationships. At the same time, CGD's new sustainabilitystrategy for the 2018-2020 triennium promotes a broader vision of several areas of action that enables the engagement with several actors (e.g. Waste management entities,Social Solidarity companies, NGO, general public, among others).

Inspired by the Sustainable Development, namely the number 17 – Partnership for the Goals, CGD seeks to strengthen the means of implementation and revitalize the globalpartnership for sustainable development. For prioritizing engagements and the development of projects related with climate change and GHG emissions with partnersbelonging to the value chain, CGD considers several aspects such as: the impact (environmental/social/economic), the identification of the key competences, the financialsustainability of the project and the respective alignment with the CGD's Sustainability Strategy, the Low Carbon Program as well as with the Policies and Commitmentsassumed by the institution.

As an example of a collaborative project regarding Climate Change, will highlight the Recycling of bank cards Programme.

Based on the circular economy concept, and in partnership with Extruplás (Recycling, Recovery and Manufacture of Plastic Products), this project enables bank cards andother PVC cards to be delivered by the public in general in CGD branches, to be reused through the recycling of the plastic, and transformed into pieces of urban furniture thatare later offered to institutions of social solidarity. By investing in prolonging the product life cycle and transforming it into new valued products, Circular Economy promotesgreater collaboration among the various sectors of industry, reducing waste and contributing to a major responsibility of resources management and to look into climatechange as a greater opportunity to evolve, innovate, reduce footprint and make Change happen in a tangible benefit for CGD, the Society, the Sustainable Economy andNature, by considering different scenarios, approaches, deliverables and plans to deal with climate sponsored crisis or threats.

In 2018, 2.2 tonnes of bank cards were sent to recycle, an increase of 18% compared to 2017. This programme was highlighted as a good practice on the European CircularEconomy Stakeholder Platform, a joint initiative by the European Commission and the European Economic and Social Committee

C12.3

(C12.3) Do you engage in activities that could either directly or indirectly influence public policy on climate-related issues through any of the following?Direct engagement with policy makersTrade associationsOther

CDP Page of 3834

C12.3a

(C12.3a) On what issues have you been engaging directly with policy makers?

Focus oflegislation

Corporateposition

Details of engagement Proposed legislative solution

Climatefinance

Support CGD is member of the Social Responsability and Sustainable DevelopmentCommittee (CSR-SD) of the European Savings Bank Group Corporate (ESBG). CGDis one of the banks representing the Portuguese financial system in this workinggroup oriented towards the consequent reflection, the alignment and discussion ofthe European regulations that aim at the sector. This group is regularly consulted bythe European Commission through its presence in the European banking sector,which is composed of representatives of the French, Italian, German, Austrian,Spanish, Greek, Norwegian and Swedish savings banks. intervention ofCommissioners and other representatives of the EC, Parliament and / or EuropeanUnion institutions, bodies and agencies.

Proposed actions/solutions: • Contribution to an ISO Standard currently being developed on GREENOBLIGATIONS (ISO 14030): rewriting the norm in order to link green bond and green loan under theterm green debt instrument. • Technical Expert Group on Sustainable Finance (TEG): feedback andexpert workshops on taxonomy • EU Ecolabel Criteria for "Financial Products": 1st StakeholderQuestionnaire on the product scope and criteria definition • Information shared and discussed: -Digital skills: European Commission launches annual scoreboard to monitor women's participation indigital economy, to raise awareness and promote digital skills across Europe - Progress reports fromthe Technical Expert Group on Sustainable Finance: Benchmarks; Disclosures; EU green bondstandard (GBS) and Taxonomy. - Progress report on Non-financial Disclosures Directive (revised non-binding guidelines) - Action 9 of the EC Action Plan on Sustainable Finance - Behavioural FinancialRegulation and Policy - Financial Education and Literacy - 1st draft of Ethics Guidelines published bythe High-Level Expert Group on Artificial Intelligence - ECON and ENVI MEPs on the proposal for theEstablishment of a framework to facilitate sustainable investment - The Brussels Declaration: sets thecourse for education for the next four years - Ecodesign and Energy Labelling.

Adaptationorresilience

Support CGD is a member of the Business Council for Sustainable Development (BCSD)Portugal. BCSD Portugal is a non-profit association that aggregates and representsmore than 90 reference companies in Portugal, who are actively committed to thetransition to sustainability. BCSD Portugal encourages and supports its members intheir journey to sustainability, inspiring them and helping them build competitive,innovative and sustainable organizations and business models - at theEnvironmental, Social and Economy/Governance levels. At the same time, itcontributes to the construction of public policies and to the awareness of Portuguesesociety, with a view to the sustainable development of Portugal. BCSD Portugal ispart of the World Business Council for Sustainable Development (WBCSD) network,the largest international organization working in the area of sustainable development,with more than 200 associated companies in different countries and 68 independentorganizations on five continents, which together represent more than 20 thousandcompanies and an international network of partnerships.

Proposed actions/solutions: Incentivize companies to develop actions in order to produce knowledgethat contributes with guidelines for the Portuguese financial system to promote sustainable investmentand consumption and the alignment of financing with public policies.

Climatefinance

Support CGD is a member of the Working Group on "Sustainable Financing" of thePortuguese Banking Association. The Portuguese Banking Association(PBA) is themain entity that, in Portugal, represents the banking sector. Existing since 1984, thePBA has as main objectives and goals: • Defending the banking sector in Portugaland, in particular, the common interests of its associated institutions • To contributeto a better economic, technical and social performance of the • To act in defense ofthe values of trust, ethics, transparency and rigor in the performance of bankinginstitutions • Promote a transparent relationship between banking and society • Tocontribute to a better and better qualification of the professionals of the sector •Foster a better understanding of the functioning of the banking system and itsimportance in the country's economy • Take an active role in financial education,contributing in particular to better use of banking products and services The PBA ispart of the European Banking Federation (EBF), which brings together 32 nationalbanking associations and which together represent around 4,500 banks in Europe.

Proposed actions/solutions: Together with the representatives of all the banks in Portugal, the WorkingGroup on Sustainable Finance aims to disseminate the European agenda for sustainable financing inan informative and constructive perspective on the legiskative agenda, whenever required byEuropean entities, namely EBF and EC, and to anticipate the impacts and adaptations to beconsidered.

Adaptationorresilience

Support CGD is a member of the Smart Waste Portugal Association. Smart Waste Portugalaims to create a nationwide platform that will enhance waste as a resource, actingthroughout the Sector's value chain, promoting Research, Development andInnovation, fostering and encouraging cooperation between various entities, publicand private, national and international. At the same time, Smart Waste Portugal alsointends to establish itself as an agglutinator and an aggregator of interests, in abusiness-oriented perspective, and to be an active interlocutor with the responsibleentities.

Proposed actions/solutions: - Contribute to the production and dissemination of knowledge in the areaof waste and circular economy; - Encourage research and the constant exchange of ideas,experiences and projects in the Sector; - Encourage actions that enhance cooperation betweenentities operating in the area of waste and in the area of circular economy; - Establish preferentialcontacts with universities, companies, research institutes and other bodies, public or private, and withsimilar national, foreign and international associations; - Promote and support activities and projectsthat contribute to the pursuit of the purpose of Smart Waste Portugal and its Associates; - Collaboratewith official entities or public interest in the area of its main object, with a view to creating theconditions that allow to carry out the mission assumed by Smart Waste Portugal. Smart WastePortugal has also developed a Study on the Relevance and Impact of the Waste Industry in Portugalin the Perspective of the Circular Economy. This study presents a detailed analysis of the sector andproposes a roadmap for 2030 with actions and recommendations in the area of circular economy.

C12.3b

(C12.3b) Are you on the board of any trade associations or do you provide funding beyond membership?Yes

C12.3c

CDP Page of 3835

(C12.3c) Enter the details of those trade associations that are likely to take a position on climate change legislation.

Trade associationThe European Banking Federation (EBF) - Sustainable Finance Working Group and Taxonomy Subgroup

Is your position on climate change consistent with theirs?Consistent

Please explain the trade association’s positionThe European Banking Federation is the voice of the European banking sector, bringing together national banking associations from 45 countries. The EBF is committed toa thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund thedreams of citizens, businesses and innovators everywhere. EBF considers that the European banks are at the forefront of the transition to the low-carbon economy, as wellas supporting the Sustainable Development Goals. EBF also defends that both public and private initiatives are crucial for the Europe of tomorrow, accelerating sustainabledevelopment and unlocking all the means that make it possible. The Sustainable Finance Working Group of the European Banking Federation regards the EU action planas a significant next step in developing an international regulatory system in which banks can play a concrete role in financing the global energy transition, thedecarbonization of the economy and in achieving the objectives of the Paris Agreement on climate change and the Sustainable Development Goals (SDGs) of the UnitedNations. The EBF’s Sustainable Finance Working Group provide the European Commission with timely and relevant input on the key aspects of the action plan, notably thetaxonomy, green bonds, indices and metrics, and incentives.

How have you influenced, or are you attempting to influence their position?CGD has actively collaborated in the various objectives of the Sustainable Finance Working Group, which has a positive influence on the development of internal policiesand actions. CGD's contribution to the Sustainable Finance Working Group is highlighted in topics such as: Principles for Responsible Banking, Taxonomy, Green LoanPrinciples, TCFD Recommendations, among others.

Trade associationUN Global Compact Network Portugal

Is your position on climate change consistent with theirs?Consistent

Please explain the trade association’s positionThe United Nations Global Compact is an initiative in the area of corporate citizenship, which is based on ten fundamental Principles, such as environmental protection, topromote the public and voluntary commitment of companies to comply with them. Globally, the Global Compact organizes itself into networks, or networks, local orregional, according to the geographical, social or economic context of the country or countries that constitute them. These networks allow closer ties between companiesand other stakeholders that are part of each, while promoting shared experiences and collective development with respect to activities, practices and policies that eachentity can apply. The Global Compact Network Portugal (UN GCNP) is the Portuguese network of the Global Compact, which brings together the subscribers of the initiativebased in or operating in Portugal. Climate change has begun to impact all regions of the world and sectors of society, threatening global development and undermining thefoundation of the global economy. Yet addressing the climate challenge also is opening up new opportunities for societies to grow and prosper. Aware of this situation, theUN Global Compact has been trying to increase the link between businesses and climate change, in order to mobilize a critical mass of business leaders to implementclimate change solutions and help shape public policy.

How have you influenced, or are you attempting to influence their position?CGD subscribes to the 10 Principles of the Global Compact, of the United Nations (UN). CGD annually demonstrates its progress in complying with the principles inquestion by responding to the Communication on Progress (COP) questionnaire, which includes information related to climate change, obtaining the classification of"Advanced" as regards the quality, diversity and accuracy of the information which reports. In this context CGD's corporate management model seeks to integrate civicintervention and active participation in the preservation of environmental heritage, in accordance with the principles of the Global Compact and the objectives of SustainableDevelopment.

C12.3e

(C12.3e) Provide details of the other engagement activities that you undertake.

Engagement Example 1 - Suppliers

Through the Environmental Management System implemented in CGD's Headquarters Building and certified by ISO14001, several annual audits are carried out. For thisreason, CGD engages with several home-resident suppliers on a range of responsible business activities, including behavioral change, adoption of good environmentalpractices and improvement of environmental sustainability. In 2018, 3 resident suppliers were subject to environmental assessments. In order to implement the improvementand resolution opportunities for the improvement areas, there is a direct collaboration between the SGA Team, Internal Structures and Suppliers.

Engagement Example 2 - Employees

CGD believes that an ongoing dialogue with its stakeholders is essential for sustainable development, using various means and channels of relationships that ensure contactwith the various interest groups. For that reason, CGD promoted a survey of its employees with a view to updating its materiality matrix. The materiality evaluation processcontributed to the Institution's strategy, corroborating the pre-defined path and / or realigning it with the financial performance needs and the desired position in this context,by identifying themes that will potentially lead to the development of banking activities and financial results in the short, medium and long term, positively influencing thebrand's reputation and confidence in CGD. Climate change and energy transition is one of the themes identified in the Materiality Matrix. CGD's Materiality Matrix is availablein the 2018 Sustainability Report.

Engagement Example 3 - Carbon Disclosure Project

CDP runs the global disclosure system that enables companies, cities, states and regions to measure and manage their environmental impacts, being the mostcomprehensive collection of self-reported environmental data in the world. CGD is a member of the CDP and participates annually in the Climate Change questionnaire.When there are objectives in this scope, CGD also participates in other CDP questionnaires such as the CDP supply chain (2015). The participation in a questionnaire of theCDP in face of its complexity and exigency is by nature a moment of Engagement with several internal structures. For example, the development of areas such as thedefinition of new GHG emission reduction targets (in line with climate science), the reporting of climate information according to the TCFD, the increase of environmentalinformation with CGD's annual report, the increase in contractual environmental clauses in suppliers and the review of CGD Low Carbon Programe, were initiativesrelated/promoted to the participation of CGD in the CDP questionnaires.

CDP Page of 3836

C12.3f

(C12.3f) What processes do you have in place to ensure that all of your direct and indirect activities that influence policy are consistent with your overall climatechange strategy?

The governance model for sustainability is transversal to CGD, involving Group companies and affiliated banks to pursuit the values and goals of the Corporate SustainabilityProgram. CGD is committed to evolve a more sustainable Bank, minimizing its environmental footprint and, for that reason, has been promoting its participation in severalworking groups and initiatives that can directly or indirectly influence public policies on climate-related issues, such as United Nations Global Compact, European BankingFederation, European Savings Banks Group, BCSD Portugal - Business Council for Sustainable Development. To ensure that there is a common methodology at a businessperpartments' level and geographies where CGD is present, the appointment of a Chief Sustainability Officer has a strong internal message and represents also theformal/official Bank's commitments at an international level. By centralizing CGD's representation on the CSO, a greater consistency in the positions assumed by CGD isachievable, taking into account the strategy for climate change and facilitating the internal flow of information and communication. In this context, it's important to highlight theexistence of the Sustainability Committee which is run by the Chief Sustainability Officer and chaired by the CEO of the Bank, since it allows to relevant competencies thatmust be highlighted, namely:

i) To direct actions that ensure the integrated and transversal approach of the objectives of the Corporate Sustainability Program, allowing the cultural alignmentand professional bonding of all employees with the vision and mission for the sustainable development of CGD, branches and subsidiaries of CGD Group andthe stakeholders.

ii) To strategically guide the management and implementation models of the Corporate Sustainability Program, promoting the adoption of best practices andprinciples, local and international.

iii) To propose policies, processes and other procedures to be instituted internally to ensure the fulfillment of the objectives related to the CorporateSustainability Program and the planned initiatives and to supervise the execution.

The Sustainability Committee meets every six months, allowing direct and indirect activities that may influence the policy to be properly analyzed and consistent with CGD'soverall strategy Also, in past years, CGD collaborated with the Portuguese Government with the purpose of structuring financial products (climate finance), directed atcompanies and the general public, in order to help meet the energy efficiency measures specified in the National Action Plan for Energy Efficiency. The most relevantpartnership that resulted from this engagement is related to the Solar Thermal Campaign this campaign followed a protocol with the Portuguese government for the promotionof solar thermal equipment for residential buildings.

C12.4

(C12.4) Have you published information about your organization’s response to climate change and GHG emissions performance for this reporting year in placesother than in your CDP response? If so, please attach the publication(s).

PublicationIn mainstream reports, incorporating the TCFD recommendations

StatusComplete

Attach the documentAnnual-Report-CGD-2018.pdf

Page/Section referenceSustainability Report (starts on page: 533) TCFD Recommendations: (Pages 538-539) Risks and Opportunities (Pages 605-607)

Content elementsGovernanceStrategyRisks & opportunitiesEmissions figuresEmission targetsOther metrics

Comment

C14. Signoff

C-FI

(C-FI) Use this field to provide any additional information or context that you feel is relevant to your organization's response. Please note that this field is optionaland is not scored.

C14.1

CDP Page of 3837

(C14.1) Provide details for the person that has signed off (approved) your CDP climate change response.

Job title Corresponding job category

Row 1 Chief Executive Officer Chief Executive Officer (CEO)

Submit your response

In which language are you submitting your response?English

Please confirm how your response should be handled by CDP

Public or Non-Public Submission I am submitting to

I am submitting my response Public Investors

Please confirm belowI have read and accept the applicable Terms

CDP Page of 3838

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