Lubelski Wegiel Bogdanka SA
LWB
3
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Lubelski Węgiel “Bogdanka” S.A. is Poland’s largest and most modern hard coal mine, extracting approximately 9 million tonnes of coal annually from the Lublin Coal Basin. The company’s core activity is underground mining, an industrial process that inherently causes significant environmental damage through land subsidence, groundwater contamination, and the generation of vast quantities of mining waste.
Open-pit and underground coal mining operations, as documented in analyses of the Polish mining sector, result in atmospheric pollution, profound violations of the geological environment, and landscape degradation. The process generates spoil heaps and tailings that can lead to soil and water contamination through leaching. While the company publishes ESG reports and adheres to an internal Code of Ethics, these governance measures do not mitigate the fundamental, physical destruction caused by its large-scale extraction business. The exclusion is based on the documented ecological harm intrinsic to coal mining operations, not solely on emissions.
Lubelski Wegiel Bogdanka S.A. is a major Polish producer of hard coal, with thermal coal for electricity and heat generation constituting its primary source of revenue. The company is one of the largest coal producers in Poland, indicating its central role in the national coal industry.
In 2019, Poland's Supreme Administrative Court ruled against Bogdanka, concluding that granting it a mining concession would constitute a serious violation of the country's Geological and Mining Law. This judicial finding highlights significant regulatory non-compliance in its core mining operations. The company has been formally excluded by the Norwegian Government Pension Fund Global (NBIM) for coal production.
Lubelski Wegiel Bogdanka SA is a Polish company whose primary business is the extraction of thermal coal. The company operates the Bogdanka mine in the Lublin Basin, which is the largest and most modern hard coal mine in Poland. As a dedicated coal mining operation, the company's revenue and operations are intrinsically linked to fossil fuel extraction.
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