Cloudberry Clean Energy Annual report 2020

Cloudberry Annual report 2020 Sustainability 34 Way forward Cloudberry`s business strategy is continuously evolving. In 2021 the Board of Directors together with the management will further strengthen the sustain- ability aspects, ensuring continuation of the integral part it plays in our business strategy. The work will include development of governance structures and management of key strategic sustainable and climate-related objectives. Cloudberry will further systematize our ongoing engagement with our stakeholders. The input we receive will influence our sustainability framework going forward and be reflected in our strategic priorities. Recently, the debate regarding wind power in Norway has become rather polarized with some stakeholders seeing them as important for the provision of renewable energy whilst others have increasing concerns regarding their visual and environmental impact. Cloudberry maintains close dialogue with our stakeholders to understand and address their concerns. Company culture Our approach Cloudberry sets high ethical standards for everyone who acts on behalf of the company. In this way, we reduce business risk for both the company and the individual and safeguard the company’s reputation. Our activities Cloudberry finalized its Code of Conduct with final approval by the Board of Directors in March 2021. The code sets out the key expectations to all employees and specifies the ethical requirements for everybody who works for and on behalf of Cloudberry, including suppliers and other business partners. It describes Cloudberry`s main principles on issues such as human and labour rights, health and safety, business ethics, legal compliance, insider trading and other relevant issues related to the company’s operations amongst others. During 2020 Cloudberry has neither registered any incidents of corruption, nor discov- ered any incidents related to previous years where the company, employees or partners have been involved. The “Corporate Governance” chapter gives further information. Way forward The Code of Conduct will be fully implemented during 2021. Training sessions will be organised to ensure that all employees are familiar with, and adhere to, the Code and its business ethics. A spe- cific whistleblowing mechanism will be implemented in 2021. In our work with mapping the stakeholder engage- ment and materiality analysis, we identified respon- sible supplier management as an important topic for Cloudberry as we further develop and expand our activities. We expect our suppliers and business partners to follow ethical standards in line with our own and will develop a responsible Supplier Code of Conduct in 2021. The Code will include labour and human rights risks, health and safety, environment and climate and business ethics. “In Cloudberry the representatives have high integrity and are eager to be transparent and engaging. This creates trust!” A stakeholder’s feedback from the external engagement process Planet The planet is at the basis of everything we do. Through our production of renewable energy, we positively impact the energy transition which addresses the climate crisis. At the same time, we impact the planet through the construction and production of our wind farms and hydropower plants. Whilst the former significantly outweighs the latter, it is important to us that we reduce our environmental footprint as much as possible. Climate Our approach Climate change is at the core of Cloudberry’s stra- tegic positioning as a renewable energy company. We thereby contribute to the necessary energy transition. Yet, our activities have a carbon footprint which we are focusing on reducing. Furthermore, in the years to come, Cloudberry will strive to identify relevant metrics for measuring and managing climate-related risks and opportunities.