Capitals as well as their mutual relations are constantly changing due to a number of factors, including. among others, changes in the market and regulatory environment. The internal change accelerator is the implementation of the TAURON Group’s Strategy.
The implementation of the actions envisaged in the strategy allows for a sustainable transition of the Group and increases the investment potential for the development of renewable energy sources. The effects of the activities, in accordance with the Strategy, will be visible in all capitals. The transition towards the zero and low emissions will also have an impact on each segment of the Group’s operations.
Financial capital is the basis for the effective use and development of the TAURON Group’s other capitals, the production capital in particular, it supports the development of intellectual capital and human capital and improves the efficiency of the use of natural capital. Through the implementation of investment projects, the TAURON Group is constantly increasing the potential of its production capital. The development of this capital is carried out using the best available technologies and reduces the impact of the Group’s business operations on climate and environment. The use of modern technological and technical solutions improves and develops new competences in the intellectual capital, which also contributes to the development of the human capital, improves the use of the production capital and strengthens the TAURON Group’s competitive position. The Group’s business operations, primarily coal mining and electricity and heat production using conventional sources, consume natural resources. Improvement of the efficiency of the use of natural capital and better management of available resources by the TAURON Group lead to a more efficient use of the production and financial capital. The overall business operations of the Group, the provision of safe and stable electricity and heat supplies for its customers, continuously develops relations with the external environment, including the social stakeholders. On the other hand, taking care of the continuous development of the social capital builds the TAURON Group’s value.
Dbanie o stały rozwój kapitału społecznego buduje z kolei wartość Grupy TAURON.
The relationships among the capitals as well as the value creation model in the Group in 2019 is presented in the following figure.