ENERGA introduces further changes in the ESG area
ORLEN Group’s Energa, following the example of world leaders in the energy sector, has adapted the structure of corporate governance to EU requirements. These changes will allow for faster notification and monitoring of climate issues by the company’s management. Energa pays particular attention to both the company’s impact on climate change and the impact of climate change on its business model.
On a daily basis, the shift in corporate governance is not visible from the outside, but it is manifested by a change in the job description of one of the members of the Energa SA’s Management Board who directly supervises operational activities aimed, among others, at transforming the Energa Group towards a low-carbon economy, especially towards decarbonisation. All of this is intended to streamline the climate challenge management process and help fully exploit the opportunities of the energy transition.
The previous duties of Energa SA’s Vice President of the Management Board for Operations and Climate included, among others, overseeing this area. The addition of the word ‘climate’ to the job title underlines Energa Group’s long-standing efforts to prevent or reduce its impact on climate change and to take specific steps to increase Energa Group’s resilience to such impacts. In this way, the overarching role of the Vice-President of the Management Board in assessing and managing climate risks and opportunities was also specified.
Striving for energy efficiency
In its Environmental and Energy Policy, the Energa Group defined the company’s environmental and energy goals and objectives, assigning specific tasks to individual business lines to be performed in this area. The main objectives are to reduce the negative impact on the environment, including the reduction of greenhouse gas emissions, as well as to operate in line with the concept of a circular economy. Projects that lead to the achievement of the indicated priorities include, among others, engaging in activities for innovative energy acquisition and storage, implementing innovations that enable for better use of natural resources and minimising or preventing waste generation.
Since 2016, Energa SA has been registered in the EU Eco-Management and Audit Scheme (EMAS) promoted by the European Commission. The Energa Group annually provides evidence of effective operation and maintenance and improvement of this management scheme. Also in 2022, the General Director of Environmental Protection notified about the maintenance of 16 companies of the Group in the EMAS register.
Fitch positive about Energa’s role
In November 2022, the international rating agency Fitch Ratings raised the long-term rating of the company in foreign and domestic currency – from “BBB-” to “BBB+” with a stable perspective. The agency stressed the importance of the Energa Group as a key element in the implementation of the ORLEN2030 strategy in the field of energy transformation, playing an important role in investing in zero- and low-carbon energy sources.
ORLEN Group’s Energa is a leader among national energy groups in terms of participation in the structure of renewable energy production. In its projects, the company strongly focuses on the development of RES. Currently, approx. 40% of the installed capacity in the Energa Group’s generation assets comes from RES. In the autumn of this year, the construction of the Wielbark PV photovoltaic farm with a capacity of 62 MW in the Warmian-Masurian Voivodeship was completed. The construction of the Mitra PV farm with a capacity of 65 MW in the Greater Poland Voivodeship is just about to start. Smaller photovoltaic projects with a total capacity of approximately 30 MW are also being implemented.