NWG // SUSTAINABILITY STATEMENT
there are personnel at the sourcing offices who work full-time with sustainability matters related to procurement and production.
Overall the Board, Group Management, and Sustainability Department comprise individuals with diverse backgrounds who collectively possess broad expertise in responsible business conduct. This expertise covers the Group’ s operational sectors, specific product categories, and the geographic regions in which the Group operates.
The primary responsibility for sustainability work, broader strategy, and business ethics lies with the Group’ s Board, which approves strategies, targets, and policies, and addresses identified impacts, risks, and opportunities. The broader responsibility for targets and follow up rests with Group Management and the CSR and Sustainability Manager, who oversee impacts, risks, and opportunities, as well as the development of policies and directives. Group Management is responsible for internal audit, internal governance, and control of sustainability matters as part of the ongoing riskand control processes.
Group Management reports regularly to the Board in accordance with established procedures. Typically, between six and twelve Board meetings are held each year, during which reporting takes place. Operational responsibility is decentralized to the subsidiaries and their respective CEOs. In accordance with the governing documents and protocols established by the Board, the set targets and requirements are continuously monitored, in line with the internal functions in place to ensure progress towards the established objectives.
Roles and responsibility in sustainability matters
Board of Directors- Primarily responsible for sustainability work, overall strategy, and business ethics- Approves the sustainability reporting as part of the Annual Report- Approves policies- Approves the materiality assessment- Overseas and addresses material impacts, risks, and opportunities
Audit Committee- Ensures the quality of the Group’ s internal governance and control- Oversees risk management and risk control- Oversees the sustainability reporting process
Group Management- Responsible for the Group’ s sustainability strategy and business ethics- Overall responsibility for sustainability targets, performance and tracking effectiveness- Defining the Group’ s policies- Approves sustainability targets- Addresses sustainability related impacts, risks, and opportunities to ensure that it is included in overarching strategies
Sustainability Department- Develops sustainability targets and is responsible for tracking its effectiveness- Identifies and assesses sustainability‐related impacts, risks, and opportunities for integration into the overall strategy- Responsible for the sustainability reporting process- Identifies and prioritizes risk areas related to the sustainability reporting process
ANNUAL REPORT // 035