Annual report 2017

We want to shape a responsible energy industry of tomorrow in our country.

Our report

We believe in the sense of integrated reporting. We are confident that by comprehensively presenting our activities, grounded in a specific context, we bring PGE Group and its intentions closer to our stakeholders and especially to investors.

We are changing

Our organisation is changing. We are also learning to report for the benefit of our surroundings. Our third Integrated Report is the effect of work by many PGE Group experts and this project also follows up on several previous reports, which for us were a platform to present what we do, how we do it and why. This report is prepared with the use of selected indicators from the reporting standard of Global Reporting Initiative (GRI), version G4, and is based on guidelines from the International Integrated Reporting Council (IIRC).

Evolution of integrated reporting at PGE Group

What is new in this report 

This is our third Integrated Report. In our opinion, this is not just another report. This one is special. This time, we want to show how our Group is changing. The slogan "We want to shape the responsible energy of tomorrow in our country" is not just a summary of our activities and communication in 2017 but also a more extensive work on which we spent the last few years in order to show how our Group is facing the challenges of today's world and modern energy. (see interview with PGE CEO Henryk Baranowski, summarising 2017 -> Interview with CEO)

Subject to change is not only our generation asset structure through new investment and acquisitions. Management rules also changing at our Group. We are changing our CO2 emission profile thanks to a serious and sustainable approach to environmental matters. Dialogue with our surroundings is also changing (see what conclusions we came to during our dialogue session -> Materiality). We hope that the key elements of this report will indicate to our stakeholders the directions of these changes. In this report, for the first time we also refer to the UN's Sustainable Development Goals. We wanted to show how our activities are aligned with the global campaign for people, our planet and well-being (see how our actions are aligned with the UN's SDGs -> Sustainable development goals).   

Our rules

Based on integrated reporting guidelines from the International Integrated Reporting Council, the main aim of integrated reporting is to explain to financial capital providers how the organisation creates value over time. This is why our report contains many important financial and market information that we are asked about by investors, bondholders and banks which we meet in our everyday work. We see growing interest in non-financial data that facilitates understanding our organisation in a wider context. In editing this report, we also aimed at creating content that may be used by other stakeholders interested in the process of creating value over time by our organisation, including especially employees, clients, suppliers, business partners, local communities, law-makers, regulators and decision-makers.

In making content choices, we applied the materiality principle to the presented content (see how we selected content for the report -> Materiality) and diligence in making sure that the messaging for our stakeholders is grounded in our strategy. Wherever possible, we linked the content to additional materials from the Report or to external sources that supplement it. In editing the text, we tried to keep it concise, as online content should be. Thanks to the support of environmental, HR, controlling and reporting analysts, we were able to present in the report complete data from numerous domains together with comparative data for the past three years (see what data we collected for this year's report -> Interactive KPIs)

In this year's report, we introduced several changes to the way in which our value creation model is presented so that we could show how our business links the various types of capital, which we process and on which we have an impact: manufactured capital, financial capital, human capital, intellectual capital, natural capital and social capital. Using this approach, we can even better present our Group and its impact on the surroundings (see how we process capitals within our Group -> Capitals and Value creation model)

We are a leader on the domestic market and we want to set high standards, also in the area of reporting. The presented data allowed us also to look at PGE Group from a different and wider perspective and show in one Report the mutual relations between economic, social and environmental matters.


Do góry