49 Cloudberry Annual report 2021 Sustainability report The executive management team assesses and manages climate-related risks and opportunities, with the highest-level responsibility lying with the Chief Executive Officer and the Chief Sustainable Officer. The manager of the individual business segment is responsible for implementing risk mitigating actions. The executive management team follows up on key mitigation plans and reports in yearly reports and presents this in annual Board meetings. Strategy Actual and potential impacts of climate-related risks and opportunities on the company`s business, strategy, and financial planning where such information is material. Cloudberry has proactively identified and assessed climate-related risks and opportunities. The analysis recognized and defined three physical risks and ten transition risks, including regulatory and legal risks, technological risks, market risks, and reputational risks. All 9 risks were evaluated by the management in order to assess their likelihood of occurrence, time horizon, and potential financial impact. A preliminary internal assessment concerning the likelihood of occurrence has been performed: Time horizon Short-term Medium Long-term Years <3 3-10 >10 The likelihood assessments, as well as the definition of financial impact and time horizon, are provisional and may be subject to change in the years to come due to further development and more accurate calculations based on scenario analysis. The climate-related risks and opportunities related to Cloudberry`s business development and expansion during 2021 has been assessed. The risks are addressed and summarised in the below tables. Cloudberry will continuously analyse and assess its climate-related risk strategy to detect other risks and opportunities. Chief Executive Officer ESG / Compliance Corporate / Chief Value Officer Development Production Business Segments Operations
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