55 Cloudberry Annual report 2022 Sustainability report Target Cloudberry continues to assess the company’s economic activities in accordance to the criteria of the EU Taxonomy. Alignment to the EU Taxonomy is a continuous process and the Do No Significant Harm to Water and Biodiversity criteria, must be updated yearly to ensure that all feasible mitigation solutions are reevaluated, implemented, and followed up. We acknowledge that the EU Taxonomy will be further updated in the years to come with additional requirements, and Cloudberry aims to be top-of-therange in terms of transparency and reporting, and to be 100 percent aligned to the criteria of the EU Taxonomy for our hydro and wind power plants. Cloudberry currently develops a standalone Taxonomy report that will be published going forward. The focus of our taxonomy work in 2022 has been the company’s producing assets, as they cover most of the revenue streams, as well as CAPEX and OpEx of our economic activities. Cloudberry`s goal is to have 100 percent alignment in the coming years. It is crucial for society to shift to a low-carbon economy and reach net-zero, while doing no significant harm to the environment, water, climate adaptation efforts or other sustainability goals. Cloudberry will ensure that its organization reduces GHG emissions while the activities contribute to lower emissions in third parties. Nature impact & biodiversity Healthy ecosystems and the natural environment are essential to humanity’s survival, and a high level of biodiversity gives us resilience against shocks and diseases. It is therefore essential that we protect nature and biodiversity, and this topic is accordingly getting more and more attention in sustainability discussions. The science is clear that we currently are in the midst of a massive biodiversity loss, and that this loss is at least partially caused by climate change. For the sake of the future of us all, we must work to protect and strengthen nature and biodiversity.
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