The integrated report of PGE Polska Grupa Energetyczna S.A. and PGE Group is prepared in accordance with the guidelines of the International Integrated Reporting Council (IIRC).
The financial data in PGE Group’s Integrated Report 2021 is consistent with the information published in PGE Group’s consolidated financial statements for the year ended December 31, 2021, which is prepared in accordance with the requirements of International Financial Reporting Standards (“IFRS”), as adopted by the European Union. Non-financial information and data are prepared in accordance with the requirements of the amendment to the Accounting Act implementing Directive 2014/95/EU into Polish law. Information on the application of corporate governance rules is based on the recommendations and principles contained in the “Good Practices of WSE-Listed Companies 2021.”
PGE’s integrated report for 2021 has been prepared in accordance with the Global Reporting Initiative’s international reporting standard, in the Core option. Additionally, the report includes its own indicators, references to the 10 UN Global Compact Principles as well as to the Sustainable Development Goals (SDGs).
The report covers information for the period from January 1 to December 31, 2021 and includes consolidated data for PGE Group and for the parent company, PGE Polska Grupa Energetyczna S.A. As at December 31, 2021, PGE Group comprised 77 companies in which PGE Polska Grupa Energetyczna S.A. directly or indirectly held more than 50% of the share capital. The report covered 37 companies in which employment was reported.
PGE Group’s previous integrated report, published in 2021 and covering 2020, is available HERE.
Process for defining the reporting content
PGE Group’s integrated report responds to the information needs and expectations of almost 80 of PGE’s key stakeholder representatives, which were raised during dialogue sessions organised in mid-June 2022. You can read more about these dialogue panels HERE.
These were workshop-type meetings, conducted with the use of general forum discussions, subgroup discussions, individual work with the use of an online questionnaire, which fostered the involvement of the participants and provided an opportunity to put forward one’s own proposals of issues and exchange thoughts on the topics being discussed.
PGE stakeholders present at the meetings were asked to become acquainted with 39 aspects of the company’s operations, assigned to four areas: business, environment, employee and social.
As a result of this dialogue, PGE Group’s key stakeholders identified the eight topics most relevant to them that should be included in the 2021 Integrated Report. These topics have been incorporated into the report in line with the GRI standard. An appropriate indicator was assigned to each of them:
|Important topics||Index||Place in the report|
|1. Strategy and its implementation||Own indicator – implementation of the strategy|
|2. Preventing non-compliance with laws and regulations (including those relating to the supply and use of products and services)||GRI 419-1 – Non-compliance with laws and regulations in the social and economic area||There were no significant penalties or sanctions during the reporting period (2021)|
|3. Greenhouse gas emissions and ways of reducing them||305-1 Direct greenhouse gas emissions (Scope 1)|
|305-2 Energy indirect (Scope 2) GHG emissions|
|305-3 Other indirect (Scope 3) GHG emissions|
|4. Company’s impact on climate and actions against climate change||Own indicator – Climate awareness|
|201-2 Financial implications and other risks and opportunities due to climate change|
|5. Energy consumption and ways of reducing it||301-3 Materials used by weight or volume|
|6. Compliance with environmental regulations, prevention of abuse, breaches of environmental laws and regulations||307-1 Non-compliance with environmental laws and regulations|
|7. Consumption and ways of reducing water consumption||303-1 Interactions with water as a shared resource|
|303-2 Water management|
|303-3 Water withdrawal by source|
|GRI 303-5 Water consumption|
|8. Waste minimisation and recycling||GRI 306-1 Waste generation and significant waste-related impacts|
|GRI 306-2 Management of significant waste-related impacts|
|306-3 Total weight of waste by type of waste and disposal method|
Assessment of materiality of topics from a stakeholder perspective
Below is the materiality rating on a scale. When you hover over an area, the average of the stakeholder ratings is displayed.
The key new elements in the 2021 Integrated Report are as follows:
- inclusion of the Group’s transition-related changes in the value creation model,
- expansion of reporting to include priority areas identified by stakeholders in dialogue sessions,
- description of the strategy in terms of achieving key strategic objectives,
- incorporation of the EU environmental taxonomy,
- PGE Group’s carbon footprint in three scopes,
- management structure of the ESG area,
- management of the Circular Economy area,
- development of a climate risk management approach,
- approaches to anti-corruption and conflict of interest management,
- tab with educational material
There was no need for adjustments in the 2021 integrated report to the data and information contained in the 2020 report.