35 Cloudberry Annual report 2021 Sustainability report Cloudberry seeks to understand and manage the company`s impact on society as well as stakeholders’ expectations. In 2020 we conducted an assessment based upon input from key stakeholders. To ensure alignment with best practice, a specialist sustainability consultancy was assigned. Considerable efforts were made to identify the sustainability topics in our value chain that are material for Cloudberry and our key stakeholders such as authorities, suppliers, landowners and neighbours in addition to financial institutions and investors. The work involved an assessment of macro trends, as well as a benchmark against peers and leaders. Confirming alignment with the expectations of our external stakeholders is pivotal to Cloudberry. The Sustainability Report 2021 is Cloudberry`s second report on environmental, social and governance concerns, and we are still in an early phase on reporting sustainability activities. Cloudberry`s sustainability management has been strengthened in 2021, and we have focused on how to organize and strengthen our ESG-activities and how to disclose our ESG-performance. This year’s report highlights activities conducted during 2021 and describes our plans for 2022. Reporting standards Cloudberry`s ESG reporting and the company`s approach to sustainability, is in accordance with the World Economic Forum (WEF) Stakeholder Capitalism Metrix. At the end of this report, we have included an overview over all 21 WEF disclosures with references to pages where we disclose relevant information. The metrics include non-financial disclosures centred around four pillars; Principles of Governance, Planet, People and Prosperity, which are aligned among existing ESG standards and disclosures, e.g., Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and Task Force on Climate Related Financial Disclosures (TCFD), as well as essential elements of the UN Sustainability Development Goals. We describe our approach, our ambitions and goals, activities taken place in 2021 and way forward related to the identified sustainability topics for the company according to these pillars. In 2021 we have strengthened the assessment of our climate related financial risks and opportunities in line with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). Financial climate-related risks and opportunities will be fully integrated into our overall risk management in 2022.
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