NWG // SUSTAINABILITY STATEMENT
E5 Resource use and circular economy
New Wave Group has identified the following material impacts, risks and opportunities related to resource use and circular economy *:
Material impacts, risks and opportunities related to circular economy |
Related policy considering the management of material impacts, risks and opportunities related to circular economy |
The policy is described in detail in the relevant section of this report |
Key activities |
Impact – Resource inflows of natural resources
Impact- Resource outflows of textiles and other products.
CSR and Environmental policy:- Under the section Efficient use of natural resources, resource flows are considered- Under the section More preferred fibers and materials the transition to more preferred fibers and materials, including recycled materials is emphasized.
Impact – Waste CSR and Environmental policy:- Waste is considered under the section Waste and recycling
E1 page 60
E1 page 60
Group-wide design principles
Consolidation and joint procurement of materials across the Group’ s companies.
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Risk / Opportunity – Shift of market and technology
Risk / Opportunity- The Group’ s reputation
Risk – Productrelated legislation
Risk – Returns and claims
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CSR and Environmental policy:- Central to the sustainability strategy and business development, and therefore indirectly considering material risks.
Risk policy- Beaktar koncernens riskhantering.
Supplier Handbook
- Instructions and requirements for manufacturing suppliers. These include, among other aspects, requirements for suppliers and subcontractors regarding information on origin, reference to codes of conduct, compliance with the Restricted Substance List, water management requirements, quality standards and testing manuals.
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E1 page 60
S1 / G1 page 78 / 89
E1 page 60
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Increase the share of products and packaging made from recycled and more sustainable materials.
Quality programs with in-house quality inspectors.
Plastic strategy aimed at reducing the use of plastic.
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* Further information can be found in chapter ESRS 2 General Disclosures, under section SBM 3: Material impacts, risks and opportunities and their relationship with strategy and the business model.
Disclosure requirements related to the general management of impacts, risks and opportunities are addressed in the introductory chapter ESRS 2 General disclosures, under the section IRO-1: Description of the process to identify and assess material climate related impacts, risks and opportunities. The process for resource use and circular economy has followed a similar approach.
A separate methodology for resource use and circular economy has not yet been developed. Therefore, screening, site assessments and consultations specifically related to resource use and circular economy, particularly regarding resource inflows, resource outflows and waste, have not been conducted. The reported information covers only the elements that can be assessed using the existing overarching methodology.
E5-1: Policies related to resource use and circular economy The New Wave Group CSR and Environmental policy outline the Group’ s commitments to social and environmental responsibility. The policy considers material impacts related to resource use and circular economy as part of its focus on the efficient use of natural resources, the use of preferred fibers and materials, and waste and recycling. A more detailed description of the policy is provided under E1-2: Policies related to climate change mitigation and adaptation.
The policy is designed at an overarching level and expresses an ambition regarding reuse and recycling. However, it does not include detailed references to the waste hierarchy and does not explicitly prioritize waste prevention and waste minimization over waste treatment.
The policy does not specifically address the transition away from the use of virgin resources, including a relative increase in the use of secondary( recycled) materials, sustainable sourcing, or the use of renewable resources. Furthermore, the policy currently does not encompass eco-design principles, the consideration of waste as a resource, or the management of post consumer waste at the end of the product lifecycle.
E5-2: Actions and resources related to resource use and circular economy During the reporting year, New Wave Group has not defined any targets but has focused on a number of key activities related to resource consumption and the promotion of a circular economy, in line with the Group’ s CSR and environmental policy. These activities are ongoing and form part of the Group’ s product development processes; therefore, no specific end dates have been set.
These activities are referred to in the statement as " actions ", although they do not meet the definition of an " actions " under the ESRS. Going forward, the Group intends to define more
074 // ANNUAL REPORT