NWG // SUSTAINABILITY STATEMENT
E1-3: Actions and resources in relation to climate change policies During the reporting year, New Wave Group has not defined any targets but has focused on a number of key activities that contribute to achieving the purpose of the CSR and environmental policy. These activities are referred to in the statement as“ actions”, even though they do not meet the definition of a“ actions” under the ESRS. The Group intends to define more structured actions together with more developed targets going forward.
The actions described are Group wide and implemented across the entire organization. In addition to this, further actions and initiatives are carried out at the company level. For example, Craft Scandinavia AB and Tenson AB are members of the STICA initiative( Scandinavian Textile Initiative for Climate Action) and pursue ambitious climate action programs with clearly defined emission reduction targets and climate transition plans, which complement the Group’ s overarching climate and sustainability strategy.
The actions are intended and expected to reduce the Group’ s greenhouse gas emissions and contribute to decarbonization across the value chain, while addressing climate related impacts and supporting global efforts on climate change mitigation and adaptation. The actions are integrated into the Group’ s operations and are implemented on an ongoing basis, therefore, no specific end dates have been set. These actions apply to the Group’ s own operations but also affect the upstream and downstream value chain.
As the Group currently has no targets directly linked to greenhouse gas emissions, no achieved or expected emission reductions are reported in connection with the actions. Overall, the actions are expected to mitigate related risks to the Group’ s reputation and capture opportunities.
Current actions:
# Supplier dialogues on energy efficiency and the transition to renewable energy sources.
# Environmental risk assessments of suppliers within the framework of Amfori BEPI.
# Initiated full third‐party Amfori BEPI audit at several of the Group’ s largest suppliers.
# Group wide principles for design that shall be considered in product development to enable long product lifetimes.
# Transition towards more products and packaging made from preferred materials and / or from more resource‐efficient manufacturing processes.
# Support for the Clean Shipping Index to create market incentives for shipping companies to improve their environmental performance.
Future plans: # Expand the number of Amfori BEPI audits
# Develop climate transition plans together with the Group’ s largest suppliers
# Continuing developing products and packaging made from more preferred materials and / or through more resource‐efficient manufacturing processes within the Group, supported by clearer target‐setting and training initiatives
# Increase the involvement of the Group’ s Sustainability function in the brands’ development of product strategies
# Explore circular business models
# Continue striving for efficient flows of materials and products throughout the value chain by considering the location of materials, production and sales regions, and by avoiding air freight
Dependencies of resources and cooperation To enhance future measurability and reporting of data related to, among other things, emissions and resource inflows, and to meet increasing reporting requirements, extensive work is currently underway to review data flows and system support. This includes the roll out of a Product Lifecycle Management( PLM) system and the implementation of systems for traceability and transparency in the value chain.
This requires cross-functional work between the departments for Sustainability, IT, Purchasing office and the Group’ s brands. During the year, resources have been allocated at Group level to support this work and to strengthen strategic sustainability initiatives.
The Group has identified that access to resources is a general prerequisite for the implementation of the actions, but cannot currently assess whether, or to what extent, implementation is directly dependent on the availability of specific resources or financing. This is due to the fact that the measures are largely integrated into ordinary business, investment and purchasing processes and are not managed as separate projects with dedicated budgets. Therefore, no quantified analysis of resource dependencies has been carried out.
Although certain operating expenditures and capital expenditures are linked to the Group’ s actions, it is currently difficult to determine the exact costs, as data standardization and consolidation at Group level remain challenging.
# Continuous improvement of logistics procedures and purchasing planning.
# Consolidation of shipments between Group companies to ensure that shipping containers are optimally filled during transport.
062 // ANNUAL REPORT