Latvenergo Group is the largest power supply service provider in the Baltic States. Its range of socially and economically essential services and the scale of its activities determine Latvenergo Group interaction with a wide range of stakeholders and the associated responsibilities. Latvenergo Group identifies its stakeholders throughout the entire power supply process and, being aware of the social, environmental and economic impact of its operations, responsibly addresses the stakeholders’ needs.
The stakeholders identified through internal and external discussions, consultations and workshops are grouped in the Stakeholder map. Stakeholders are evaluated based on their impact on Latvenergo Group operations and vice versa. The evaluation is carried out in all categories of the GRI: Economic Performance, Environmental Protection, Employment and Work Environment, Society, and Product Responsibility. Identification and grouping is carried out taking into account the GRI G4 Guidelines and the voluntary AA 1000 Stakeholder Engagement Standard (SES), which sets the pattern of the best practice for quality stakeholder engagement, both at a strategic and operational level.
Latvenergo Group engages with stakeholders on several levels:
- consult – identification of current issues;
- negotiate – collective discussions;
- involve – exchange of opinion while acting independently;
- collaborate – joint decision-making and operation.