Energy consumption

In 2023, the main companies of the PZU Group: PZU and PZU Życie saw a 5.8% increase in energy consumption. The total consumption of energy purchased and produced, representing 50% of total energy consumption increased by 4.3%. The reason was mainly the higher use of real estate by Group companies. Higher employee attendance at central offices translated into higher energy consumption.

Fuel consumption increased by 7.3% y/y, this was particularly evident in gasoline and LPG consumption. The changes are due to expansion and changes in the fleet structure – a growing share of gasoline cars and hybrid cars.

PZU and PZU Życie’s total consumption of energy from non-renewable fuels

Total consumption of energy purchased and produced in PZU and PZU Życie

PZU and PZU Życie’s total consumption of energy from non-renewable fuels as well as purchased and produced energy

Additionally, in 2023, in 5 properties PZU and PZU Życie installed photovoltaic panels – their total power was 77.78 kWp**.

The use of electricity from RES, in addition to the economic aspect, has an important impact on climate protection through reduction of CO2 and other greenhouse gas emissions. It leads to reduction of scope 2 emissions through reducing the demand for energy and, as a consequence, reduction of the use of fossil fuels for production of energy from high-emission sources. The cost savings regarding the electricity consumed for 41 properties in which photovoltaic panels were installed are in the range of 26%.

Thanks to the purchase of electricity with certificates of origin by PZU and PZU Życie, its share in total energy consumption (energy purchased, produced and energy from fuels) by these companies amounted to 18% and 21%, respectively. In the years to come, further use of RES and increase in the share of green energy, subject to its availability in the market, is planned.

* RES – total resources used for production of electricity and heat whose long-term use does not cause a significant deficit or which are renewed over a short time. These sources include: wind power, solar radiation power, geothermal power, hydropower, wave power, tidal power, salt gradient and flow power, power obtained from biomass, biogas and biofuels
** kWp – defines the efficiency that can be achieved by photovoltaic panels if they work in standard measurement conditions – how much electricity (1 kWh) the given panel or the whole photovoltaic installation is able to produce.

The share of renewable sources in total energy consumption at PZU and PZU Życie

On the other hand, the companies continued to focus on optimizing and reducing their consumption of fuel, electricity and thermal energy. The decrease in raw material consumption is due to fewer facilities, building thermal upgrades, changes in heating methods and weather conditions, among other factors. Due to higher temperatures in 2023, building temperatures have been reduced, resulting in lower heat use in buildings.

W celu przeliczenia paliw na energię dla wszystkich spółek Grupy zostały zastosowane wartości opałowe za KOBIZE (Krajowy Ośrodek Bilansowania i Zarządzania Emisjami).

The conversion of fuels into energy for all Group companies is based on the calorific values published by KOBIZE (National Centre for Emissions Management).

Lietuvos Draudimas aims to reduce CO2 emissions released from its operations by more than 10% by 2024 compared to 2019. To this end, Lietuvos Draudimas has chosen two main directions for analysis and further implementation: renewable energy and fleet electrification. The company uses green certified electricity at its headquarters and branches, currently purchased from UAB Elektrum. In June 2023, a contract was signed for the purchase of 350 kW of solar panels, which provides about 30% of current electricity consumption. Construction of the solar power plant has been completed. The plant is expected to be operational by March 2024 at the latest. In 2023, the first fast charging stations for electric cars were installed at the new Lietuvos Draudimas site. Four fast-charging stations provide the ability to charge eight cars simultaneously.

In 2023, consumption of energy, both produced and purchased, increased by 0.2% in the entire PZU Group. The main drivers of the change in consumption were decreases in electricity (-3.6% y/y), natural gas (-14.8% y/y), fuel oil (-25.4% y/y), while the key contributor to the increases was increased LPG and gasoline consumption. In 2023, fleet utilization was on the rise as there was a return to full operational mode in the use of the vehicle fleet resulting in an increase in purchased and fuel-derived energy consumption. On the other hand, the companies continued to focus on optimizing and reducing their consumption of fuel, electricity and thermal energy. The decrease in raw material consumption is due to fewer facilities, building thermal upgrades, changes in heating methods and weather conditions, among other factors. Due to higher temperatures in 2023, building temperatures have been reduced, resulting in lower heat use in buildings. The conversion of fuels into energy for all Group companies is based on the calorific values published by KOBIZE (National Centre for Emissions Management).

PZU Group’s total consumption of energy from non-renewable fuels

PZU Group’s total consumption of purchased and produced energy

PZU Group’s total consumption of energy from non-renewable fuels and purchased and produced energy

The building in the center of Warsaw is powered by green energy, which allows for a significant reduction in CO2 emissions. The building uses environmentally friendly technologies, such as a grey water and rainwater recovery system that allows for a significant reduction in water intake. In 2023, the percentage of gray water recycled and reused in PZU Park was 8.3% for PZU and PZU Życie combined. In addition, PZU Park has, among others, a ventilation system with high-end filters that provides 30% more fresh air. Adiabatic humidifiers unsure its proper humidity. Appropriate filters minimize the risk of allergies. The building’s water is tested for about 30 chemical compounds. Employees have access to adequate daylight. Employees are provided with 187 bicycle spaces and several charging stations for electric cars. Air conditioning based on a chilled beam system is quiet and guarantees comfortable temperatures and energy efficiency. Issues of employee well-being are also very important in WELL certification. Subdued colors, natural materials used for furnishings, a green terrace on the 35th floor, or pergolas overgrown with vegetation facilitate concentration and stimulate creativity. The lobby of the office building features a 15-meter-long 330 m2 square-meter green wall with more than six thousand plants. The oxygen they produce in a day would be enough for 150 people.

In 2023, Bank Pekao completed major consolidation projects:

In comprehensive modernizations of its properties the Bank uses modern solutions, e.g. energy-saving LED lighting systems or faucet aerators, leading to reduction of water consumption.

In 2023, Bank Pekao continued the measures from previous years by successively reducing emissions into the atmosphere. The Bank’s Management Board has approved the leasing of 35 hybrid cars and 145 reducedemission cars to replace high-emission cars.

Armatura Kraków obtained white certificates from the Regulatory Authority, which are confirmation of upgrades to improve energy efficiency and result in energy savings. The value of the Energy Efficiency Certificate obtained is: 705.641 toe, i.e. 29 544 GJ per year. The project was completed in October 2020, with the resulting benefits becoming fully visible in 2021, and will have a positive environmental impact for years to come, at least until 2026. This will translate into CO₂e emission reductions by 1.6 thousand tons CO₂ going forward.

A new casting machine was put into operation at the beginning of 2022, and the continuous overhaul and modernization of existing machinery, associated with the replacement of the drive and automation, is improving production rates and further energy efficiency. The upgraded machine consumes about 30 kWh less per hour, which generates annual savings of about 230,400 kWh.

As part of increasing the share of energy from renewable sources, an important element in the use of energy from RES is the construction of a photovoltaic farm with a capacity of nearly 1,800,000 Wp. In August 2023, energy production was launched. In the period from August to October, it produced 473.11 MWh of which 383.22 MWh was consumed for its own use and the remaining surplus amount was sold back to the grid. Estimated projections indicate that thanks to the operation of the farm, Armatura Kraków will reduce CO2 emissions by about 1,300 tons per full calendar year. The above is simulated using data from Our World In Data – it shows that in Poland in 2021, producing 1 MWh meant emitting 657 kg of CO2 into the atmosphere.

A new mechanical line for processing the radiator was installed in November 2023. It will not only improve the quality of the radiator and improve production capacity, but will also increase energy efficiency with the potential to obtain an energy efficiency certificate of 10–16 toe.