NWG // CSR
T o w a r d s a s u s t a i n a b l e g r o w
CSR and Sustainability t h
New Wave Group ’ s work with sustainability focuses on topics linked to social , environmental , and economical level of impact and issues that are highly valued by our stakeholders .
Our strategy is based on the vision of maximizing our contribution to globally agreed goals for sustainable development . The Global Goals guide how New Wave Group tackles climate change , depletion of natural resources , and social inequalities - some of the risks to our business , the planet , and people linked to our value chain .
Through our value chain - the entire chain of activities required to design , manufacture , transport , market , sell , use , reuse , and recycle our products - the company interacts with countless people , communities , ecosystems , and other businesses worldwide . Through our sustainability strategy , we aim to seize opportunities and manage risks . The objective is to maximize positive impact and minimize negative impact through decisions that are aligned with the company ' s values and contribute to our long-term goals .
The work includes , for example , improving working conditions in production countries , reducing greenhouse gas emissions from production , transportation , and developing more sustainable and circular products . A central part is also to actively disseminate knowledge and information to create awareness of sustainable consumption and sustainability aspects in the production of textiles and other goods . In this way , the group can contribute to the global development goals while ensuring a good dialogue with customers and other stakeholders .
Sustainability Report
In our separate sustainability report , we have placed New Wave Group ' s sustainability work in a larger context within the framework of UN Global Goals for sustainable development . Here we provide a more comprehensive picture of the work and highlight our accomplishments , but also what we can do better . As in previous years , we report in accordance with the GRI Standards , Global Reporting Initiatives ' latest guidelines .
An extensive effort is underway for adaptations to the EU ' s new directive on sustainable reporting , CSRD ( Corporate Sustainability Reporting Directive ), and the new mandatory reporting standards , ESRS ( European Sustainability Reporting Standards ). However , we have chosen to maintain the previous format for the reporting year 2023 in order to transition to ESRS for the reporting year 2024 .
The 2023 Sustainability Report is available at www . nwg . se / en / csr .
Sustainability Year 2023
With more products made from more preferred materials and numerous forward-looking sustainability initiatives , the group ' s companies have continued to demonstrate their ability to meet stakeholders ' expectations regarding sustainability efforts .
At the group level , we have continued to work on improving processes and implementing system support to meet increased demands for information and transparency . In line with adaptations to CSRD and ESRS , we have also worked on developing policy documentation , mapping our emissions , and conducting double materiality analysis to assess the actual and potential impacts of our operations on people and the environment . Collectively , these efforts lay the groundwork for further discussions on goal setting and reduction plans .
Much focus has been placed on addressing climate impact thorough assessments and follow-up throughout the value chain . The group ' s largest climate impact arises from the production of our products , largely due to the use of fossil fuels . Therefore , it is crucial that we collaborate with and support our suppliers in energy efficiency and transitioning to renewable energy . Our own purchasing offices play a key role in this work - with a strong local presence , we have the strength and conditions for real impact .
New Wave Group ' s ongoing journey largely revolves around improvement-oriented work with a good balance between sustainability expertise and the ability to solve problems and develop processes towards higher value creation , thus actively integrating sustainability issues into the group ' s core operations .
Read
Read more about how New Wave Group works with CSR and sustainability in the separate Sustainability Report , available on www . nwg . se / csr / en
042 // ANNUAL REPORT