ESG management

Along with the growing interest in ESG (Environmental-Social-Governance) issues, our intention is to meet the expectations of our stakeholders striving to increase the scope of information in this area.

The PGE Group’s Strategy is a visible effect of our approach. While developing the Strategy we took into account the expectations of financial institutions, being aware that the success of the energy transformation depends on the capital necessary to implement the investment.

We make every effort to ensure that the basic goals included in the strategy find their specific dimension in short- and medium-term operational goals, such as those related to the average emissivity of the group or emission reductions.

At the same time, we continue dialogue with representatives of financial institutions, and in our presentations we attach increasing importance to showing non-financial aspects of PGE’s operations. We have expanded the „Non-financial report” and created a „Sustainable business” tab on our website.

As the largest producer of electricity and heat in Poland, we pay particular attention to climate-related issues. President Wojciech Dąbrowski is directly responsible for the supervision over this area, and climate-related issues are periodically discussed by the Management Board and Supervisory Board of PGE. Furthermore, the implementation of investments reducing PGE’s carbon footprint is provided for in the KPIs of both the Management Board of PGE and the management boards of subsidiaries and key management personnel.

Carbon Disclosure Project

Our activities are guided by transparency. Responding to the call of our shareholders, we decided to participate for the first time in the research of a recognized environmental reporting standard – the Carbon Disclosure Project. We reported in two areas: „Climate change” and „Water Security”.

The implementation of the first study allowed us to identify our limitations in disclosure of greenhouse gas and water data. We also got to know the expectations of stakeholders better. The experience gained will allow us to adjust the management and reporting systems to these expectations, as well as contribute to further limiting the impact of the organization on the natural environment. We do believe that streamlining processes will allow us to systematically improve our ratings.

Taking into account the complexity of the issues, we have created a team consisting of representatives from the areas of: investor relations, CSR, controlling, strategy, international relations, risk, operational and investment, and corporate governance. We also directly involved our subsidiaries.

Independently, a project is being carried out to calculate the full carbon footprint of PGE under Scope 1 and Scope 2, the effects of which should be presented in the Group’s non-financial report for 2021.

We see the need for further internal coordination of activities involving PGE’s key structures.

Thanks to the intensification of activities in the field of ESG management, we not only prepare to meet the reporting requirements (such as the EU Taxonomy, Sustainable Reporting Standard, Sustainable Finance, Sustainable Corporate Governance), but also try to ensure that the entire organization will operate in accordance with the ESG concept.

In the decision-making process of the PGE Management Board, the materiality of information on environmental or social issues submitted to shareholders or made publicly available is directly identified. Thus, decisions are made in a context that takes into account the expectations of our stakeholders.

Our intention is to develop PGE fully in harmony with the expectations of stakeholders in this regard. Then, as we believe, we will be able to implement the intended goals effectively and treat ESG commitment as our development opportunity.

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