Bogdanka becomes a laureate of the ESG Innovator 2023 contest
Bogdanka has become a laureate of the ESG Innovator 2023 contest in category [G] – Innovation in Corporate Governance.
The Company has received the Golden Award for creating Poland’s first Scientific Council for Environmental Protection operating at a mining company. The Council is an external and fully independent advisory team of experts charged with the task of issuing opinions for the LWB Management Board pertaining to investments and other decisions related to environmental aspects and impact.
I was proud to be informed of the ESG Innovator Golden Award for our Scientific Council the establishment of which, from the Company’s vantage point, was a bold step in strategic and environmental management. The assumption we have made is that the foundation for the pursuit of sustainability in Poland is the transition of the power industry, which in turn must begin with a makeover of the mining sector. Without the involvement of experts, business partners and trade unions, without the all-in commitment of the mines themselves and without understanding the challenges, risks and climate impact of mining operations, it will be impossible to effectively reduce the industry’s environmental footprint. When looking for experts, we approached respected, locally based professors and researchers many of whom have devoted their entire academic career to studying the impact of industrial activities – including Bogdanka specifically – on ecosystems. The Council has been provided with access to historical and current data, but is also expected to formulate opinions on project plans and potential partnerships in the environmental area. This gives us confidence that the Council’s recommendations are based on robust foundations. On top of this, the Council is an independent body that does not get paid for the input it provides. This means that the researchers who make up the Council are incentivized to work in concert for the benefit of sustainability
said Kasjan Wyligała, President of the LW Bogdanka Management Board.
The ESG Innovator Awards were presented at the ESG Innovators Gala in Warsaw. On behalf of Bogdanka, ESG Area Manager Agata Kostarz accepted the award.
Legislative changes coupled with economic and social trends, including the gradual phasing out of coal in the energy mix, generate major challenges in the ESG area for Bogdanka specifically, but also for large industrial establishments more broadly. In our business, we have been making efforts to approach the ‘green transition’ as an opportunity for growth. The transition process is underway, but it requires a great deal of attention, a number of studies, analyses and regular reviews of projects from different angles to be as sure as possible that the solution chosen for a particular challenge will benefit a specific aspect of the environment without harming any other aspects or the continuity of our mining operations. The Scientific Council understands how important it is for the Company to minimize its environmental footprint, but is also acutely aware of the need to preserve jobs for the thousands of people currently employed by the Mine. This is why the Council was an active participant in the creation of the ESG Strategy and the #Bogdanka2030 Development Strategy. We bear witness to the fact that it is possible to cooperate rather than come up with obstacles to each other’s activities, because this sort of approach generates more benefits for nature itself
said Agata Kostarz, Deputy Director for Strategy and Sustainable Development, Head of the ESG Department.
One of the outcomes of the work of the Scientific Council for Environmental Protection at LW Bogdanka is the agreement reached in October of this year between the Mine and the Polesie National Park in which the parties established a fund for researching the impact of mining operations on the Park’s ecosystem and the pursuit of other scientific projects.
The Park thus recognized the commitment, openness and diligence of the Company’s management in the environmental area.
The ESG Innovator 2023 contest held by the Polish ESG Association promotes best practices in ESG, CSR and sustainability. It aims to recognize projects that exert a favorable impact on the environment and the well-being of employees and local communities, and improve transparency and corporate governance in organizations.
Lubelski Węgiel Bogdanka S.A. is a leading hard coal producer in Poland that stands apart from its peers in terms of its modern and efficient mining. It is one of the largest Polish hard coal mines. Lubelski Węgiel Bogdanka S.A. chiefly conducts mining operations in terms of hard coal extraction, enrichment and sales. It supplies this raw material mainly to industrial offtakers. Supply contracts are long-term, and the product is sold to the commercial power sector and the industrial power sector.
The company has been listed on the Warsaw Stock Exchange since June of 2009. In August 2022, Lubelski Węgiel Bogdanka S.A. returned to listing on the WIG-ESG Index.
Since October of 2015 Bogdanka has been a member of the Enea Group, the second largest player on Poland’s electrical power market in terms of the generation of electricity, which manages the entire value chain on the electricity market ranging from fuel to the generation of electricity, distribution, sales (supply) and customer service.