Cloudberry Clean Energy Annual report 2020

39 Cloudberry Annual report 2020 Sustainability TCFD Risk Like- lihood 1) Financial Impact 2) Time Horizon 3) Description Risk mitigation Opportunity Opposition towind power High Low Short Being a public company in Norway, it is likely that we will receive resistance from opponents where we build wind farms (e.g., due to impact on nature). We will continuously aim to develop projects in areas where we can mitigate potential conflicts. We seek to develop projects near industrial areas, or in areas where there is local support. Wind power is the best source for new clean power in the Nordics, also in Norway. Increased focus on corporate carbon footprints Medium Medium Medium There is an increased focus on companies’ carbon footprint. As a renewable energy company, we are an important part of the green transition, however, it is just as important to reduce our carbon emissions and move towards net- zero in the whole value chain, both in terms of all materials and in terms of conserving biodiversity on all locations. Cloudberry focus on preserving biodiversity, reducing carbon emissions, and to help others reduce their carbon footprint (by providing green energy). The company is in a process of implementing its Code of Conduct which will include supplier requirements for their carbon footprints. Cloudberry believes that an environmental strategy shapes confidence from stakeholders and attracts the best workforce and talents who seek a purpose in their professional life. Selling GOs High Low Short May be accused of selling the “renewableness” of our own power production, while at the same time not buying similar for our own consumption. Cloudberry will decide between buying GoOs for our own consumption or stop selling from our production. Cloudberry is currently budgeting minimal income from the GO’s (green certificates that our plants obtain). This can change as more and more carbon intensive businesses are moving towards net-zero strategies. GO’s prices can improve and can be used to reduce/ improve companies CO 2 footprint. 1) The likelihood is based on provisional internal assessments and will be further developed through scenario analyses in the years to come 2) Financial impact: Low < 10 mill, Medium 10-100 mill, High > 100 mill 3) Time horizon: Short: 0-3 years, Medium: 3-10 years, Long: more than 10 years Transitional Risks and Opportunities Reputation