Strategic ESG Challenge for the Power Industry Cover Image

Strategiczne wyzwanie ESG dla elektroenergetyki
Strategic ESG Challenge for the Power Industry

Author(s): Dariusz Michalski, Karol Borkowski, Daniel Borkowski
Subject(s): Energy and Environmental Studies, Green Transformation
Published by: Wydawnictwo Naukowe Wydziału Zarządzania Uniwersytetu Warszawskiego
Keywords: ESG; green transformation; strategy; power market; RES; European Union;

Summary/Abstract: The purpose of the article is to identify necessary changes in the business strategy of powercompanies, responding to the challenges of sustainable development. This topic is extremelyimportant for filling the existing gap in research and in the literature in management science. It isalso of great relevance for the practical aspects of the operation of power companies in today’ context, where they face increasing pressure to integrate environmental, social and governance(ESG, Environment, Social, Govermance) issues into their business strategy. Hence, the articleaims to present the challenges and opportunities associated with integrating sustainability intothe strategies of power companies. In the article, ESG refers to the following three key factorsthat measure the degree of sustainability, and serve to ethically assess the impact of companieson their business environment. First, environmental factors focus on how a company interactswith the natural environment, including its impact on climate change, pollution and resource use.Second, social factors take into account how a company interacts with people, including employ-ment practices, diversity and inclusion policies, and impact to the extent normalized by humanrights. Third, governance factors assess the quality of leadership, as well as the transparency andaccountability of relevant companies in the context of sustainability. It is indicated in this articlethat the challenge created by ESG should have a significant impact on the formulation of businessstrategies of power companies.

  • Issue Year: 13/2024
  • Issue No: 3
  • Page Range: 19-46
  • Page Count: 28
  • Language: Polish
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