We have been hearing of global warming, Greta, decarbonisation, EU taxonomy, sustainability, CSR and other similar things. Are they all the result of exaggeration in media or is it a demonstration of an attempt (of a part) of humanity to reverse the negative trend of deteriorating living conditions on our planet? Each of us puts similar questions, opinions on these topics have been evolving for some time, and I am no exception. I admit that the main turning point in my view on this matter came with the birth of my children. I realized that it was important for me that my children, as well as generations after them, will have an opportunity to have tolerable living conditions on our planet, and that it was not possible to constantly "plunder" resources that are limited. In short, sustainability has become a personal topic for me, and I am glad that we are committed to sustainability in ČSOB, where I work.
It is probably not necessary to introduce ČSOB, but I will still allow myself a short introduction. We are one of the largest providers of financial services in the Czech Republic providing our services to clients of all customer groups: small savers, entrepreneurs, small and medium-sized companies, corporations, banks and other financial institutions and last but not least public administration institutions. In the field of real estate, we are the largest provider of housing loans in the Czech Republic and we also play a significant role in financing constructions and investments in commercial real estate, whether residential projects, office space, retail space and storage and production facilities.
However, what deserves a deeper presentation is our sustainability strategy. Within the KBC Group, to which ČSOB has belonged since 1999, we have committed ourselves to the commitments of the Paris agreement and the main principles of sustainability with the aim of reducing greenhouse gas emissions and thus preventing or mitigating the negative effects of global warming on our environment. It is not only about our own carbon footprint, but also about an environmental impact of activities of our clients, whom we finance or to whom we provide our financial services. We have therefore decided to consider sustainability as another of our key long-term values and we have been implementing it step by step into measures and approaches within our business strategy. It is not just about restrictions on high-impact activities, but mainly about supporting the transformation and promotion of new technologies and approaches that have sustainability in their DNA from the very beginning. We see a huge business opportunity in this.
An example is our new product of a "green" mortgage with more favorable conditions (total sum, maturity, price) for very energy-efficient apartments and houses. We are also going to provide loans on favorable terms for the purchase of solar panels on the roofs of buildings, heat pumps and other similar technologies, which aim to contribute to reducing greenhouse gas emissions. On the other hand, there will be restrictions on financing of commercial real estate in the category of the most energy-intensive buildings. As ČSOB, we now prefer to finance buildings with energy labels "A" to "C" and significantly limit our financing of buildings with "F" and "G" category labels, unless the client submits a plan for their overall revitalization at the same time.
Part of our sustainability strategy is also the support and promotion of these principles in business and everyday life, which was also the main reason why, as ČSOB, we became an exclusive partner of the Czech Green Building Council. We regard CGBC as a great platform for raising awareness of sustainability in the field of construction, thanks to the fact that it brings together stakeholders from various fields connected to real estate. At the same time, membership in the Council offers us the opportunity to discuss the topics of sustainability and their incorporation into national legislation and regulations, to debate and exchange acquired knowledge and experience and to inspire each other. As we all know, this is an area with extremely dynamic development.
I am all the more pleased that I was elected to the Board of Directors of the Council as a representative of ČSOB, which symbolically underlines the importance we give to sustainability as a ČSOB Group. Personally, I look forward to working with all colleagues within the Council. We really do care about our planet.