NWG // SUSTAINABILITY STATEMENT
GOV-2: Information provided to and sustainability matters addressed by the undertaking’ s administrative, management and supervisory bodies Sustainability matters are regularly addressed by New Wave Group’ s Board, Audit Committee and Group Management. Material impacts, risks, and opportunities are considered in the development of business strategies and in the processes for due diligence.
The CSR and Sustainability Manager provide regular updates on the Group’ s sustainability work and informs the Board on various themes related to targets, impacts, risks, and opportunities. The CSR and Sustainability Manager also provide regular updates to the Audit Committee on the Group’ s sustainability reporting process. The Audit Committee, the Board, and Group Management annually review the risk assessment process for both financial and non financial risks.
The Board approves Group wide sustainability policies, such as the CSR policy and the environmental policy. Group Management approves the sustainability targets. Progress towards these targets is monitored annually as part of the sustainability reporting process.
All material impacts, risks, and opportunities identified through the double materiality assessment have been addressed by Group Management, the Board, and the Audit Committee during the reporting period.
A list of material impacts, risks, and opportunities can be found in section SBM‐3: Material impacts, risks and opportunities and their relationship with strategy and the business model.
GOV-3: Integration of sustainability-related performance in incentive schemes New Wave Group has established guidelines for incentives schemes for senior executives. The variable cash remuneration is intended to support the Group’ s business strategy and long term interests, including sustainability. Currently there are no specific sustainability-related criteria or targets, including climate related targets, are linked to the existing incentive schemes. Instead, assessments are made on an overall basis, taking multiple factors into consideration.
The Board is responsible for preparing proposals for new guidelines, which are determined at the Annual General Meeting. The Board is also responsible for monitoring and evaluating the variable incentive schemes for Group management, the application of the guidelines for senior executive remuneration, as well as the incentive structures and compensation levels within the Group. The Board evaluates the variable cash incentive awarded to the CEO. The variable cash incentives for other senior executives are evaluated by the CEO. The Board does not receive variable compensation and does not participate in any incentive schemes.
Disclosures regarding incentive schemes have been prepared in line with the Group’ s remuneration report. Ahead of the Annual General Meeting, the remuneration report was provided as part of the decision making documentation. The Annual General Meeting approved the remuneration report, thereby ensuring that shareholders were able to exercise their rights in matters related to incentive schemes.
GOV-4: Statement on due diligence New Wave Group has due diligence processes in place across the Group and throughout the value chain. These processes are designed to identify both social and environmental impacts and risks, and to prevent, mitigate, and address such issues in line with the UN Guiding Principles on Business and Human Rights( UNGP). The process includes the following activities:
036 // ANNUAL REPORT