Stakeholder engagement is an important element of Latvenergo Group’s responsible business conduct and management of sustainability matters. Stakeholders are identified, assessed and grouped according to ESRS standards and the AA1000 Stakeholder Engagement Standard. The Group assesses the social, environmental, and governance impact of its activities and regularly engages stakeholders in addressing and assessing mutually material issues and setting relevant Targets.

Stakeholder engagement takes place in a variety of formats, tailored to the current issues of the specific period and the Group’s operational plans, for example:

• discussions and planning activities engaging stakeholders on Latvenergo Group activities that have an environmental impact, such as improvements in fish migration
• webinars and discussions on the Group’s Sustainability Strategy, to discuss key issues, including the development and prioritisation of targets
• face-to-face events and regular consultations that allows to discuss and coordinate targets in detail, with various stakeholder groups

This approach ensures that the target indicators set by the Group are in line with the interests of employees and the public, as well as the needs of environmental protection and the expectations of other stakeholders. The regular and structured approach enables the Group to maintain a dialogue on key issues and build support for the Group’s Sustainability Strategy. As a result of this, Targets are developed based on stakeholder views, encouraging public awareness and participation.

Our employees achieve the objectives of the Group and build relationships with society, customers and other stakeholders. A sustainable working environment that is open to the development of competencies and diversity is one of the priorities of Latvenergo Group.

Latvenergo Group takes daily care to ensure a safe and healthy working environment for employees, promoting the creation of high-quality and comfortable workplaces, allowing employees to participate in the identification of hazardous situations and in proposing the necessary improvements. This enables us to work together to improve our employees’ satisfaction levels, making employees’ health and safety the priority values of the company at every stage of core operations and in interactions with society.

Employee well-being

As working life expectancy gradually increases, Latvenergo Group implements activities aimed at the development of individual know-how and skills, as well as the promotion of well-being. Physical activity has traditionally been highly valued within the Group, and our challenge is to increase the variety of activities to encourage higher employee engagement. Information systems that are required for work performance are designed in accordance with the principles of an inclusive digital environment to promote digital well-being.

Safe working environment

We regularly monitor emotional, occupational and physical safety at the workplace through the Employee Experience Survey to offer the most appropriate solutions to as many employees as possible.

Latvenergo Group adapts the working environment for its employees wherever possible and, where it is not possible to protect employees with collective protective equipment, provides employees with innovative, modern and safe personal protective equipment.

We have joined the Mission Zero initiative which helps us to develop a Zero Accidents approach and to continuously improve occupational safety and health protection methods and processes.

When carrying out work and engaging cooperation partners, we rely on an open internal culture and encourage everyone to report any type of incident that may endanger the safety or health of our employees or the employees of cooperation partners. We regularly train employees and cooperation partners in the field of occupational safety.

Occupational health and safety politics

Fair remuneration

Capital Companies of Latvenergo Group maintain a fair system of personnel remuneration that is consistent with the trends of the labour market, as well as the qualification and performance of employees. We promote awareness of the fact that financial rewards, as well as good working conditions, including a positive and developmental working environment and the opportunities and benefits offered by the employer, constitute value. Employees are motivated to demonstrate high performance through values, inspiring leadership and new challenges. Our commitment is to continue to ensure that employees have a positive perception of their remuneration.

Corporate social responsibility (CSR) involves voluntary activities by businesses to improve social welfare and the environment in cooperation with stakeholders. To support best practices of corporate social responsibility, the Group implements CSR activities in three directions according to principles and criteria defined in the Sustainability policy (see CSR infographics).

Contact information: ksa@latvenergo.lv.

Donation is one of the forms of the Corporate Social Responsibility of Latvenergo AS. The Donation Strategy of Latvenergo AS has been developed to provide operational guidance for allocating donations in compliance with laws and regulations, guidelines, strategy of the Group, Latvenergo AS policies and values, and opinions of the stakeholders.

Latvenergo AS Donation Strategy

Facilitating development of education and science in the energy sector, the following tasks are being implemented:

• to promote young people’s interest in science-related subjects and engineering professions;
• to support young people’s excellence in the field of sciences;
• to improve the training materials for teachers;
• to support scientific work of researchers and teachers in the field of energy;
• to educate about energy efficiency issues.

Information on donations for development of education and science is available

 in section Donations

FIZMIX Eksperiments

This is the 29th year in a row that Latvenergo Group has organised the knowledge contest FIZMIX Eksperiments for pupils in forms 8 and 9. The aim of the contest is to stimulate young people’s interest in the exact sciences, to offer an attractive insight into how theoretical knowledge can be used in practice, to trigger curiosity for choosing an engineering profession, to educate students on the safe and efficient use of electricity in their daily lives, as well as to raise awareness about the environmentally friendly generation and the energy industry.

To learn more, visit: https://www.fizmix.lv/eksperiments/

Physics festival

Latvian Physics Festival – a public event with thematic, educational and entertaining activities in STEM disciplines for different audiences. During the Physics Festival, everyone can participate in experiments and workshops, and hear expert opinions on the role of STEM in social and economic development. The semi-finals and finals of the FIZMIX Eksperiments knowledge contest also take place during the festival.

Video summary of the 2024 Festival

The physics portal FIZMIX

www.fizmix.lv is the first website in Latvia for primary and secondary school audiences, with the primary aim of engaging and exciting visitors about physics by encouraging them to choose their future career in the area of exact sciences. The content offered within the framework of FIZMIX can be used by parents together with their children to create early interest in science, as well as by youths, who are already studying physics at school. The FIZMIX.lv portal publishes videos of experiments, and the theory of physics is supplemented with practical examples and explanatory images, as well as a wide range of exercises with solutions and explanations.

Elektrum Energy Centre

Since 1997, the Elektrum Energy Centre, the only one of its kind in the Baltic states, has been operating under the auspices of Latvenergo with the purpose of creating public awareness about climate change, the sustainable production of renewable energy, and the smart and efficient use of energy resources. Over the years, the Elektrum Energy Centre has become a place where industry professionals meet to discuss and share experiences on the latest developments in the energy efficiency.

The competencies accumulated by Elektrum Energy Centre experts, years of research and proven recommendations provided by them are regularly used by households, businesses, public administration bodies and educational institutions.

EEC infographic.pdf

The local community is one of the priority stakeholders of the Group. It is important for the Group to be as closely in touch as possible with the local communities in the vicinity of the Group's facilities and to contribute to the development of these communities.

Latvenergo Group informs the public about its planned activities, such as projects to develop RES generation capacity, and provides the opportunity to submit proposals regarding the potential impacts of these activities.

Residents of affected communities can participate in working groups or informative seminars organised by the subsidiary of the Group Latvijas vēja parki SIA, where experts provide information on various aspects of the planned projects, for instance, socioeconomic impacts, biodiversity, landscape impacts and physical impacts of the wind farms.

Up-to-date information on public consultations, informative seminars, and answers to frequently asked questions are published on the website of Latvijas vēja parki SIA, a subsidiary of the Group.

Latvenergo Group provides opportunities to learn about successful examples of RES generation capacity development projects.