Cloudberry Annual report 2022 Sustainability report 34 About the report Reporting standards Sustainability is a rapidly evolving field, with evolving reporting standards. When we wrote our first sustainability report in 2020, we chose to use the World Economic Forum (WEF) Stakeholder Capitalism reporting framework. This year we have decided to move away from the WEF structure in favor of an Environment, Social, and Governance (ESG) structure. We make this change because the ESG structure is becoming more standard in sustainability reporting, and to prepare for the European Sustainability Reporting Standards (ESRS) required by the Corporate Sustainability Reporting Directive (CSRD). These standards have been detailed by the European Financial Reporting Advisory Group (EFRAG) and are based on the ESG structure. Accordingly, we have included some information related to the mandatory CSRD disclosures in this report and plan to conduct a CSRD gap analysis in 2023. Despite our switch to the ESG reporting structure, this report contains many of the same disclosures as before, which are aligned with the Sustainability Accounting Standards Board (SASB) and elements of the UN Sustainable Development Goals (SDGs). Previously, Cloudberry’s sustainability reports were also aligned with the Task Force on Climate Related Financial Disclosures (TCFD). This year we have published a separate TCFD report, although the sustainability report still highlights the most material climate risks. This report is also inspired by the Global Reporting Initiative (GRI) and therefore includes new GRI disclosures and a GRI reporting matrix at the end of the report.
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