“TGE incessantly works to develop its business and responds to economic developments while keeping in mind the human and environmental dimension. We are proud each time we receive an award from the industry or the media because it proves that we are on the right track. It is no different with the title awarded to us, for the second time already, by CFI.co. To be named Best Sustainable Commodities Exchange (Central Europe) 2021 we had to meet stringent criteria such as innovation, market leadership, implementation of modern technologies, customer satisfaction, employee training, transparency and corporate governance. All the award winners stand out because of their excellence, which makes all the more pleased that, just as in 2020, we have been included among such respectable institutions” said Piotr Zawistowski, President of the Management Board of TGE.
Justification for the award given to TGE in the Best Sustainable Commodities Exchange Central Europe 2021 category:
TGE (Towarowa Giełda Energii) Polish Power Exchange has been in operation for more than two decades, contributing to national energy security by developing markets for electricity, natural gas, property rights and CO2-emission allowances. It added an agricultural and food market to the mix in 2020. TGE is licensed and regulated by the Polish Financial Supervision Authority and has a leading position among Central and Eastern European exchanges in terms of liquidity and commercial offering. The exchange maintains its competitive edge by focusing on employee development, tech innovation and high-quality services. It has operated as a Nominated Electricity Market Operator (NEMO) since 2015 – when it first published a CSR strategy. TGE outlined its commitment to improving the quality of the domestic commodity market through strong corporate governance, clear communication and active cooperation with market participants. TGE was granted multi-NEMO status for another four years in 2019. TGE and the Polish Wind Energy Association are collaborating to create new solutions for trading electricity generated from renewable energy sources (RES). TGE was an integral part of the Interim Coupling Project that went live this June, establishing electricity connections at the borders of the Czech Republic, Slovakia, Hungary and Romania along with Poland and the pan-European multi-regional coupling market. The company introduced contact-free e-signing procedures in response to Covid. The CFI.co judging panel presents TGE Polish Power Exchange, a repeat programme winner, with the 2021 award for Best Sustainable Commodities Exchange (Central Europe).
For years, CFI.co has been covering issues related to the complexity of international finance, economics, business and the development of these sectors. It delivers news and commentary on markets around the world, focusing on the drivers of change, including technology and innovation. With its deep insight CFI.co can identify regions, industries and companies that will succeed. Focusing on describing the drivers of economic convergence, the magazine identifies leaders in their fields that can serve as examples for their peers.
In its annual award programme, CFI.co looks at thousands of companies and organisations from all over the world to short list about 500 strongest nominees. Awards are presented to around 150 of them. In this year's edition, TGE is one of two Polish institutions that have found themselves among the winners.