Cloudberry Annual report 2021 Sustainability report 46 Planet The planet is at the basis of everything we do. Through the 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. It is a high priority for Cloudberry to reduce its environmental footprint as much as possible, and further prioritise this focus in the years to come. Cloudberry`s goal is to be net-zero by 2040. Performance summary Planet Not started On plan Achieved Climate risk and opportunities Net-zero by 2040 TCFD - update risk assessment according to developments of the year Incorporate climate-related risks in overall risk management according to TCFD framework CO2 emissions - report annually Scope 1, 2 and 3 Scope 3 – report on waste from construction site Value chain – improve Scope 3 reporting GHG emissions Eligible activities covered by the EU Taxonomy on Revenue, OPEX and CAPEX Alignment to the technical screening criteria with the EU Taxonomy Regulation Land use and ecological sensitivity ESG impact – assessment prior to FID Implement ESG due dilligence assessment in all investment decisions Climate risk and opportunities Our approach Cloudberry understands that although the company contributes to climate solutions with its development and production of renewable energy, the company itself has a responsibility to reduce its emissions and the negative impact the company has on climate and the environment. As a result of this Cloudberry has set an ambition to be net-zero by 2040. Cloudberry is a fossil-free company and has reached net-zero emissions in its own operations (scope 1 and 2) since 2020 by removing CO2 from the atmosphere through restoring mangrove forests. Cloudberry has further invested in restoring mangrove forests to neutralize all future emissions from its own operations and employees. The Company will complete scope 3 calculation in alignment with the GHG Protocol to determine a decarbonization pathway to reach net-zero in the value chain by 2040. Climate changes constitute a risk and opportunity for Cloudberry. They present financial risk to the global economy, and pose risks and opportunities for businesses, now and in the future. Financial markets, creditors and investors ask for clear, consistent, and comparable, high-quality information on the impacts of climate change. The Task Force on Climaterelated Financial Disclosure (TCFD) developed the TCFD disclosure recommendations to improve and increase reporting of climate-related financial information and to enhance market transparency and stability. Cloudberry strives to evaluate its relevant metrics for measuring and managing climate-related risks and opportunities at all times and in accordance with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).
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