GN Store Nord
ESRS disclosure
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- Provide the date when carbon credits outside the value chain are planned to be cancelled, as per Disclosure Requirement E1-9, which addresses anticipated financial effects from material physical and transition risks and potential climate-related opportunities. Ensure that the information aligns with the qualitative characteristics of useful information as outlined in ESRS 1 Appendix B. Utilize the specified tabular formats for presenting this data.
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Question Id: E1-7_19
Year planned to retire Project name tCO2eq 2025 Bio-Logical 13 2025 Carboneers - Odisha & Assam Varaha - Banni Biochar 196 2025 Carbuna 39 2027 Charm Industrial - 2027 Vintage 4 2028 Charm Industrial - 2028 Vintage 3 Report Date: 4Q2024Relevance: 80%
- Provide a detailed explanation of the scope, methodologies, and frameworks applied in achieving your net-zero target, as disclosed alongside gross GHG emission reduction targets in accordance with Disclosure Requirement E1-4, paragraph 30. Additionally, describe how you intend to neutralize residual GHG emissions, following a reduction of approximately 90-95%, with allowances for justified sectoral variations aligned with a recognized sectoral decarbonisation pathway. Include information on the role of GHG removals within your operations and throughout your upstream and downstream value chain.
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Question Id: E1-7_20
GN has set Board-approved science-based GHG emission reduction targets to manage our climate-related impact and risks by decarbonizing in line with the scientific consensus on the urgency of addressing climate change and the degradation of nature. We are committed to reduce absolute GHG emissions (metric tons CO2eq) in Scope 1 and 2 by 80% and in Scope 3 by 25% by 2030 from a 2021 baseline. GN is also committed to reaching net-zero GHG emissions by 2050 at the latest, meaning 90% reduction with neutralization of unabated emissions to reach net zero.
Report Date: 4Q2024Relevance: 65%
- Has the undertaking made public claims of GHG neutrality involving the use of carbon credits? If so, provide an explanation.
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Question Id: E1-7_21
Throughout 2024, GN has enabled GHG removals from seven climate change mitigation projects outside our value chain. These have been financed through the purchase of carbon credits amounting to the removal of 263 metric tons CO2eq. GN is committed to reaching net-zero emissions by 2050 at the latest, which will require us to neutralize any unabated emissions by the same year. For the scope, methodology, and frameworks applied in setting this target, please refer to E1-4 (Climate change mitigation targets). We plan to expand upon our current carbon removal portfolio and neutralize residual emissions through removal projects occurring outside our own operations and value chain. We monitor the development of the carbon removal market to assess opportunities to maximize the safety and reliability of our carbon credits.
Report Date: 4Q2024Relevance: 85%
- Has the undertaking made public claims of GHG neutrality involving the use of carbon credits, and if so, how are these claims accompanied by GHG emission reduction targets as mandated by Disclosure Requirement ESRS E1-4?
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Question Id: E1-7_22
GN is committed to reaching net-zero emissions by 2050 at the latest, which will require us to neutralize any unabated emissions by the same year. For the scope, methodology, and frameworks applied in setting this target, please refer to E1-4 (Climate change mitigation targets). We plan to expand upon our current carbon removal portfolio and neutralize residual emissions through removal projects occurring outside our own operations and value chain.
Report Date: 4Q2024Relevance: 80%
- Provide a detailed explanation of how any public claims of GHG neutrality, which involve the use of carbon credits, do not impede or reduce the achievement of your company's GHG emission reduction targets or, if applicable, its net zero target.
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Question Id: E1-7_23
GN is committed to reaching net-zero emissions by 2050 at the latest, which will require us to neutralize any unabated emissions by the same year. We plan to expand upon our current carbon removal portfolio and neutralize residual emissions through removal projects occurring outside our own operations and value chain. We monitor the development of the carbon removal market to assess opportunities to maximize the safety and reliability of our carbon credits.
Report Date: 4Q2024Relevance: 60%
- Provide a detailed explanation of whether and how any public claims of greenhouse gas (GHG) neutrality, which involve the use of carbon credits, are supported by GHG emission reduction targets. Additionally, clarify how these claims of GHG neutrality and the reliance on carbon credits do not hinder or diminish the achievement of GHG emission reduction targets or the net zero target.
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Question Id: E1-7_24
GN is committed to reaching net-zero emissions by 2050 at the latest, which will require us to neutralize any unabated emissions by the same year. For the scope, methodology, and frameworks applied in setting this target, please refer to E1-4 (Climate change mitigation targets). We plan to expand upon our current carbon removal portfolio and neutralize residual emissions through removal projects occurring outside our own operations and value chain.
Report Date: 4Q2024Relevance: 65%
- Provide an explanation regarding the credibility and integrity of the carbon credits utilized, particularly in instances where public claims of GHG neutrality have been made. This explanation should reference recognized quality standards as part of Disclosure Requirement E1-7 concerning GHG removals and GHG mitigation projects financed through carbon credits.
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Question Id: E1-7_25
GN only partners with reputable suppliers and business partners, ensuring that all projects have undergone thorough due diligence assessments to certify quality and integrity. Projects are assessed based on indicators relating to climate impact, co-benefits, integrity, and the outlook of each project to validate the safety and reliability of the carbon storage. All projects, except one, are certified under a recognized quality standard. No projects have been retired during 2024.
Report Date: 4Q2024Relevance: 85%
- Provide a detailed account of whether and how climate-related considerations are integrated into the remuneration structures for members of the administrative, management, and supervisory bodies. Include an assessment of whether their performance is evaluated against the GHG emission reduction targets as outlined in Disclosure Requirement E1-4. Additionally, specify the percentage of remuneration for the current period that is associated with climate-related considerations, and elucidate the nature of these climate considerations.
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Question Id: E1.GOV-3_01
As stipulated in GN’s Remuneration Policy, ESG-related performance is part of (annual) short-term incentive (bonus) objectives for all members of the Executive Leadership Team. This supports progress on policies, targets, and actions in mitigating our material IROs across several environmental and social topics. For the year 2024, these objectives consisted of one overall objective related to reducing carbon emissions across all scopes versus 2023 in support of making progress towards our 2030 climate targets, and 10 key actions related to decarbonization in specific areas, increasing circularity, ESG-related supplier engagement, sustainability-related marketing and CSRD compliance. ESG-related objectives for the CEO and CFO are approved annually by the Remuneration Committee. In the reporting year, 7.2% of the annual bonus was dependent on these objectives for the CEO and CFO with 12% of their annual bonus was linked to ESG, of which 50% was related to reduction of carbon emissions.
Report Date: 4Q2024Relevance: 90%
- Provide a detailed account of how climate-related considerations are integrated into the remuneration packages of members of the administrative, management, and supervisory bodies. Specify if their performance evaluations include assessments against the GHG emission reduction targets as outlined in Disclosure Requirement E1-4. Additionally, state the percentage of the current period's remuneration that is attributed to climate-related considerations, accompanied by a description of these considerations.
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Question Id: E1.GOV-3_02
As stipulated in GN’s Remuneration Policy, ESG-related performance is part of (annual) short-term incentive (bonus) objectives for all members of the Executive Leadership Team. This supports progress on policies, targets, and actions in mitigating our material IROs across several environmental and social topics. For the year 2024, these objectives consisted of one overall objective related to reducing carbon emissions across all scopes versus 2023 in support of making progress towards our 2030 climate targets, and 10 key actions related to decarbonization in specific areas, increasing circularity, ESG-related supplier engagement, sustainability-related marketing and CSRD compliance. ESG-related objectives for the CEO and CFO are approved annually by the Remuneration Committee. In the reporting year, 7.2% of the annual bonus was dependent on these objectives for the CEO and CFO with 12% of their annual bonus was linked to ESG, of which 50% was related to reduction of carbon emissions.
Report Date: 4Q2024Relevance: 10%
- Provide a detailed explanation of how climate-related considerations are integrated into the remuneration structures for members of the administrative, management, and supervisory bodies. Specify whether their performance evaluations include assessments against the GHG emission reduction targets as outlined in Disclosure Requirement E1-4. Additionally, indicate the percentage of current period remuneration linked to these climate-related considerations and describe the specific climate considerations involved.
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Question Id: E1.GOV-3_03
As stipulated in GN’s Remuneration Policy, ESG-related performance is part of (annual) short-term incentive (bonus) objectives for all members of the Executive Leadership Team. This supports progress on policies, targets, and actions in mitigating our material IROs across several environmental and social topics. For the year 2024, these objectives consisted of one overall objective related to reducing carbon emissions across all scopes versus 2023 in support of making progress towards our 2030 climate targets, and 10 key actions related to decarbonization in specific areas, increasing circularity, ESG-related supplier engagement, sustainability-related marketing and CSRD compliance. ESG-related objectives for the CEO and CFO are approved annually by the Remuneration Committee. In the reporting year, 7.2% of the annual bonus was dependent on these objectives for the CEO and CFO with 12% of their annual bonus was linked to ESG, of which 50% was related to reduction of carbon emissions.
Report Date: 4Q2024Relevance: 85%