NWG // SUSTAINABILITY STATEMENT
identified transition related events, risks and opportunities are addressed.
At present, the Group has not carried out a separate screening process to identify individual assets or business activities that may be exposed to climate related physical or transition risks. The analysis has also not included a detailed assessment of asset lifetimes, capital allocation plans, or their compatibility with a transition to a climate neutral economy. The assessment has primarily been qualitative and has not included quantification of the likelihood, magnitude or duration of identified climate related risks and opportunities, nor the use of geospatial data. The Group intends to further develop the methodology as data availability, internal processes and governance mature, including the potential for more detailed asset specific analyses going forward.
Disclosure requirements related to governance and strategy are addressed in the introductory chapter ESRS 2 General disclosures, in the following sections:
# GOV-3: Integration of sustainability-related performance in incentive schemes
# SBM-3: Material impacts, risks and opportunities and their interaction with strategy and business model.
E1-1 Transition plan for climate change mitigation New Wave Group does not currently have a documented climate transition plan linked to the climate mitigation measures being implemented. In the coming periods, the Group intends to prioritize the continued development of its climate work, including improved greenhouse gas emission mapping and the formulation of emission reduction targets, which may in the long term serve as the basis for a future transition plan. At present, the Group has not set a timeline for when a climate transition plan will be developed.
The greatest impact can be achieved through the phasing out of fossil fuels across the value chain. The transition plan will therefore focus on energy efficiency, the choice of energy sources, an increased share of more sustainable materials, and the development of circular business models. This is in line with the existing and planned measures described under E1: 3 Actions and resources in relation to climate change policies.
The Group is aware that its operations and supply chain give rise to locked-in greenhouse gas( GHG) emissions. These emissions originate, among other sources, from the purchase of materials, manufacturing processes, transportation and waste management. Due to current limitations in data availability and a lack of standardization, the Group has not yet carried out a complete quantification of these emissions.
E1-2: Policies related to climate change mitigation and adaptation
CSR and Environmental policy New Wave Group’ s CSR and Environmental policy describe the Group’ s action for social and environmental responsibility.
The policy determines guidelines for the following areas:
# Knowledge and information # Social responsibility and community development # Business ethics and anti-corruption
# Reduced in climate impact – emissions, water, biodiversity
# Efficient use of natural resources # More preferred fibers and materials # Waste and recycling
The policy governs how we work with matters related to climate change, including both climate change mitigation and climate change adaptation. It does so by stating that the business shall continuously strive to reduce the Group’ s climate impact( climate change mitigation) and focus on integrating more sustainable ways of working throughout the organization to ensure long term value for the Group( climate change adaptation).
In the section " Reduced climate impact – emissions, water, biodiversity " energy efficiency and development of / transition to renewable energy are taken into consideration in collaboration with the Group’ s manufacturing suppliers.
The policy covers the Group’ s own operations as well as the upstream and downstream value chain. It is applicable in all regions where the Group operates, with particular focus on countries where sourcing takes place. As the policy is central to the Group’ s strategy and development, it directly or indirectly affects all stakeholders, who for the same reason are an important part of the policy’ s development and implementation. New Wave Group consults various stakeholders— such as suppliers, customers and partners— in relation to integrating actions and engaging in dialogue on environmental matters. Further information on stakeholders and forms of engagement is provided in Section SBM 2: Stakeholders’ interests and views.
The New Wave Group Board approves the policy and holds ultimate responsibility for managing sustainability related risks, opportunities and impacts. Group Management is responsible for the development of the policy, with input from the Group’ s Sustainability Department. Group Management, together with the management teams of each subsidiary, is responsible for implementing the policy within their respective operations. The policy is subject to annual review and approval by the Board.
The policy is available on the intranet. The intranet is currently automatically accessible to all employees in subsidiaries whose IT systems fall under the Group’ s central IT department. Newly acquired companies are therefore, for example, not included in this automatic access. Employees without automatic access can be granted access upon request. New employees are informed about the policies as part of the onboarding process.
060 // ANNUAL REPORT