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Tauron Group
Letter of the Management Board
About us
Our values and rules of conduct
Mission, vision
Corporate values
Corporate Social Responsibility Code of Conduct
Value chain and business model
Introduction
TAURON Group’s business model assumptions
Our capitals
Financial capital
Natural capital
Production capital
Human capital
Intellectual capital
Social capital
Value creation model and relations among capitals
Value levers (driver)
Customer-centricity
New businesses
Modern infrastructure
Ability to access and use the natural capital
Investment and restructuring potential
Personnel and organizational culture
Value lever (driver) prospects
Our environment
Macroeconomic environment
Market environment
Regulatory environment
Competitive environment
TAURON Group against the market backdrop – Europe
TAURON Group against the market backdrop – Poland
The impact of the COVID-19 pandemic on the operations of TAURON Capital Group in 2020
Prizes and accolades
Governance
TAURON Capital Group’s organization
Process-based organization
Organization by Lines of Business
Formal and legal organizational structure
Changes to the principles of TAURON Polska Energia S.A. and TAURON Capital Group’s management
Corporate governance
Application of corporate governance in 2020
Shareholders
Management Board
Supervisory Board
General Meeting
Diversity Policy
Compensation Policy for the Members of the Management Board and the Supervisory Board
Risk
Risk management
Introduction
Risk management objective and principles
Enterprise risk management strategy
Key risk management
Risk categories
The most material risk categories
Risks related to TAURON Group’s sustainable development
Strategy
Conditions determining TAURON Group’s strategy
Key challenges
Opportunities and threats
TAURON Capital Group’s Strategy and the Green Turn of TAURON
Introduction
Strategy and growth prospects
Financial goals and assumptions of TAURON Group’s Strategy
TAURON Capital Group’s strategy and business model in the context of climate protection requirements
The implementation of TAURON Group’s Strategy and the strategic priorities in 2020
Key non-financial efficiency ratios
Strategic investment projects
Strategic Research Agenda
Strategic activities in the short-, medium- and long-term
Sustainability
The relevance of sustainability to TAURON Capital Group
TAURON Capital Group’s Sustainable Development Goals
Natural Environment and Climate
Environmental Policy
Climate Policy
Customers and Suppliers
PROClient Social Policy
Corporate Purchasing Policy
Code of Conduct for Contractors (Counterparties)
Human Rights
Human Rights Respect Policy
Responsible Employer and Business Partner
TAURON Group’s Human Capital Management Policy
TAURON Group’s Subsidiaries Employee Recruitment, Selection and Adaptation Policy
TAURON Capital Group’s Policy of compliance with the Principles of Ethics and Counteracting Mobbing and Discrimination
TAURON Group’s WHS Policy
Personal data protection policy for TAURON Group’s entities
Counteracting Corruption and Bribery
Anti-corruption Policy
Tauron in 2020
Timeline
Stock exchange
TAURON shares performance
Inclusion in stock exchange indices
Recommendations and ratings
Bonds issued
Investor relations
Key financial data
Financial results and prospects by operating segments (lines of business)
Mining Segment
Generation Segment
RES Segment
Distribution Segment
Supply Segment
Other Operations
Discontinued Operations
Results in individual product, goods and service categories
Hard coal sales
Sales of generated electricity and heat
Sales of electricity distribution services
Wholesale and retail supply of electricity and gas
Results within key customer segments
Consolidated financial statements
Consolidated statement of comprehensive income
Consolidated statement of financial position
Consolidated statement of changes in equity
Consolidated statement of cash flows
Notes
Outlook
Material factors impacting TAURON Group’s growth
TAURON Group against the backdrop of the world’s greatest challenges – climate changes and insufficient resources
Short-term outlook
Medium-term outlook
Long-term outlook
About the raport
Information on the Report
Introduction
Stakeholder mapping
Reporting methodology and reporting standard
Material aspects of the reporting
GRI Content Index
Glossary
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Annual Report 2020
Tauron in 2020
Consolidated financial statements
Notes
50. Significant items of the consolidated statement of cash flows
50. Significant items of the consolidated statement of cash flows
SELECTED ACCOUNTING PRINCIPLES
The statement on cash flows is prepared according to the indirect method.
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