Cloudberry Annual report 2022 Sustainability report 38 In 2022 we received zero grievances from neither project under construction nor from those in operation. Cloudberry aims for zero non-compliance incidents in the years to come. However, we want to be made aware of irregularities or concerns regarding the organization and our business. We therefore welcome all whistle-blowing occurrences and encourage a culture of transparency. Compliance training includes training in Code of Conduct, notification routines for whistleblowing incidents and anti-corruption. In 2022, all Cloudberry and Captiva employees received information about the whistleblowing policy, and the updated Code of Conduct was shared. Mandatory training for all employees in anti-corruption and the Code of Conduct is embedded in Cloudberry from 2023. Updated sustainability strategy Cloudberry`s overarching purpose is to provide renewable energy for future generations and power the transition to a sustainable future. This purpose shapes everything we do, and our long-term success is linked to operating our business in a sustainable way. To fulfil this purpose, Cloudberry believes that identifying, understanding, and systematically managing the material sustainability topics in our value-chain is of utmost importance for future longterm value creation. Cloudberry grew significantly in 2022 with the acquisition of 60% of the Captiva Group (the Operations segment) and through organic growth. The growth necessitated an update of our sustainability strategy and material topics list, facilitated by renewed external stakeholder dialogue. As a result of this process, Cloudberry has revised its material topics and developed relevant sustainability ambitions, targets, and key performance indicators (KPIs). They have all been incorporated into our development, production, operations, and corporate business units. The targets and KPIs were approved by Cloudberry’s ESG committee and Board of Directors at the end of 2022.This sustainability report addresses our updated strategy and sustainability material topics in more detail, as well as our plans to address each of them, divided into the Environmental, Social, and Governance dimensions. Double materiality assessment and adjusted material topics As part of our ESG strategy update we conducted a double materiality assessment inspired by the Global Reporting Index (GRI) and the methodology described in CSRD. This process represents our first step towards CSRD alignment and included interviewing our most important stakeholders. This resulted in receiving input on how our activities impact people and the environment, and on how different sustainability matters create risks and opportunities for Cloudberry. We have linked the topics that came out of this process with the three ESG dimensions: Environmental, Social, and Governance. Our assessment found our most material environmental topic dimensions to be climate change and energy transition, nature impact and biodiversity, and circular use of resources and materials. Our most material social topics are engagement, health and safety, diversity and equal opportunities, and local community impact. Under governance, responsible value chain and responsible business conduct were identified as the most material sustainability topics. In the coming years Cloudberry will continue to raise our sustainability ambitions and goals and strengthen the work with our material topics. The integration of ESG topics is an ongoing process in both our own business units and the value chain. Good corporate governance and ethical business conduct are essential to Cloudberry as the company continues to grow organically and through acquisitions. The table below gives an overview of our material sustainability topics, as well as our preliminary assessment of them related to double materiality. For each material topic, we have considered how Cloudberry impacts the outside world (also known as inside-out impact and sometimes called “impact”), as well as how changes related to the topic create risks and opportunities for Cloudberry (also known as the outside-in impact and closely related to financial issue).
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