43 Cloudberry Annual report 2022 Sustainability report Stakeholder dialogue and managing stakeholder expectations Cloudberry`s success depends on our ability to build trust amongst our stakeholders. It is essential that landowners lend their land to us, local communities have trust in us, people and partners want to work with us, and that investors and creditors value us. It is fundamental for the company to engage timely and openly with our stakeholders, and we have the ambition to maintain an open and transparent dialogue. An important part of maintaining dialogue and building trust is ensuring Cloudberry a local presence, allowing us to understand the context we work in. We strive to have a transparent decision-making process. Regular dialogue with and input from our main stakeholders gives us valuable feedback and enables Cloudberry to continue to improve and enhance our trust and reputation. When exploring a new opportunity, we evaluate landowners’ interest in having a powerplant on their property as well as the local attitude towards the establishment of the relevant renewable energy power plant. After submitting the formal notification of a project to the authorities, we hold public meetings to inform residents about the project and identify local needs that we can accommodate them. Cloudberry creates opportunities for individual residents to discuss any concerns they may have throughout the process. Dialogue with and input from all stakeholders are highly important to the company and contribute to and validate, our sustainability strategy. In 2022 Cloudberry engaged with external stakeholders as a part of our larger process to update our material topics. We conducted interviews with existing and potential stakeholders and individuals belonging to several stakeholder groups. Key stakeholders consist of landowners on whose land Cloudberry has projects, residents, municipalities, and politicians in communities where Cloudberry operates, suppliers, consultants, investors, relevant financial institutions, and an environmental NGO, as illustrated below. A full day workshop with employees and management was also conducted. Cloudberry’s stakeholders are particularly concerned with how we handle environmental and social impact, governance issues, health and safety, company culture and supplier management. In the table below we describe the main findings from the 2022 stakeholder interviews regarding Cloudberry’s development and construction projects in Norway and Sweden. Way forward In 2023, Cloudberry will further systematize our stakeholder engagement. The input we receive is valuable and influence our sustainability framework and will be reflected in our strategic priorities going forward. On every construction project Cloudberry will continue to distribute newsletters, keep updated project websites, and hold meetings for authorities, landowners and other stakeholders involved. We maintain close dialogue with our stakeholders to understand and address their concerns. Cloudberry’s Value Creation Landowners Suppliers Employees NGO Financial institutions Authorities Municipalities Local residents Investors Cloudberry’s main stakeholders
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