GN Store Nord
ESRS disclosure
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- Has your organization, which does not exceed an average of 750 employees during the financial year, utilized the phase-in provisions outlined in Appendix C of ESRS 1 to omit information required by ESRS E4, ESRS S1, ESRS S2, ESRS S3, or ESRS S4? If so, confirm whether the sustainability topics covered by these standards have been assessed as material through your materiality assessment. Furthermore, if any of these topics have been deemed material, provide detailed information for each identified material topic.
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Question Id: BP-2_21
Where the ESRS allows for this, GN has made use of phase in and transitional provisions, meaning we do not report on data points that are voluntary on this basis for the reporting year.
Report Date: 4Q2024Relevance: 60%
- Has your company, with an average of 750 or fewer employees during the financial year, opted to omit information required by ESRS E4, ESRS S1, ESRS S2, ESRS S3, or ESRS S4 under the phase-in provisions of Appendix C of ESRS 1? If so, confirm whether the sustainability topics covered by these standards have been assessed as material in your materiality assessment. For each topic deemed material, provide a list of matters (topic, sub-topic, or sub-sub-topic) identified as material in AR 16 of ESRS 1 Appendix A, and briefly explain how your business model and strategy address the impacts related to these matters.
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Question Id: BP-2_22
Where the ESRS allows for this, GN has made use of phase in and transitional provisions, meaning we do not report on data points that are voluntary on this basis for the reporting year.
The double materiality assessment identified 29 material IROs across seven topical standards. The IROs consist of 21 impacts and 6 risks, as well as 2 additional IROs with both an impact and a risk attached. The IROs are spread across 19 ESG topics.
All IROs are covered by ESRS disclosure requirements, except for the positive impact related to helping people with hearing loss, which is entity specific.
Overall, like any other risk, our risks are integrated in our strategy and business model through enterprise risk management processes, whereas managing our impacts is anchored in compliance with relevant legislation, as well as integration of additional policies, actions, and targets of our strategy and our business model where managing the impact requires additional efforts.
Report Date: 4Q2024Relevance: 60%
- Has your organization, with an average of 750 or fewer employees during the financial year, opted to utilize the phase-in provisions as outlined in Appendix C of ESRS 1, thereby omitting information required by ESRS E4, ESRS S1, ESRS S2, ESRS S3, or ESRS S4? If so, confirm whether the sustainability topics covered by these standards have been deemed material following your materiality assessment. For each topic identified as material, provide a detailed list of matters, including topics, sub-topics, or sub-sub-topics, as specified in AR 16 ESRS 1 Appendix A, and succinctly describe how your business model and strategy incorporate the impacts related to these matters.
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Question Id: BP-2_23
Where the ESRS allows for this, GN has made use of phase in and transitional provisions, meaning we do not report on data points that are voluntary on this basis for the reporting year.
The double materiality assessment identified 29 material IROs across seven topical standards. The IROs consist of 21 impacts and 6 risks, as well as 2 additional IROs with both an impact and a risk attached. The IROs are spread across 19 ESG topics.
All IROs are covered by ESRS disclosure requirements, except for the positive impact related to helping people with hearing loss, which is entity specific.
Overall, like any other risk, our risks are integrated in our strategy and business model through enterprise risk management processes, whereas managing our impacts is anchored in compliance with relevant legislation, as well as integration of additional policies, actions, and targets of our strategy and our business model where managing the impact requires additional efforts.
Report Date: 4Q2024Relevance: 65%
- Has your company, with an average of fewer than 750 employees during the financial year, opted to omit information as per Appendix C of ESRS 1 regarding ESRS E4, ESRS S1, ESRS S2, ESRS S3, or ESRS S4? If so, confirm whether these sustainability topics have been deemed material following your materiality assessment. For each topic identified as material, provide a concise description of any time-bound targets established, the progress made towards these targets, and specify if the targets related to biodiversity and ecosystems are grounded in conclusive scientific evidence.
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Question Id: BP-2_24
Where the ESRS allows for this, GN has made use of phase in and transitional provisions, meaning we do not report on data points that are voluntary on this basis for the reporting year.
The double materiality assessment identified 29 material IROs across seven topical standards. The IROs consist of 21 impacts and 6 risks, as well as 2 additional IROs with both an impact and a risk attached. The IROs are spread across 19 ESG topics.
All IROs are covered by ESRS disclosure requirements, except for the positive impact related to helping people with hearing loss, which is entity specific.
Overall, like any other risk, our risks are integrated in our strategy and business model through enterprise risk management processes, whereas managing our impacts is anchored in compliance with relevant legislation, as well as integration of additional policies, actions, and targets of our strategy and our business model where managing the impact requires additional efforts.
Report Date: 4Q2024Relevance: 60%
- Has your organization utilized the phase-in provisions as outlined in Appendix C of ESRS 1, specifically regarding the omission of information required by ESRS E4, ESRS S1, ESRS S2, ESRS S3, or ESRS S4, due to not exceeding an average of 750 employees on the balance sheet date during the financial year? If so, confirm whether the sustainability topics covered by these standards have been assessed as material through your materiality assessment. For each topic deemed material, provide a concise description of the policies your organization has implemented in relation to these matters.
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Question Id: BP-2_25
Where the ESRS allows for this, GN has made use of phase in and transitional provisions, meaning we do not report on data points that are voluntary on this basis for the reporting year.
The double materiality assessment identified 29 material IROs across seven topical standards. The IROs consist of 21 impacts and 6 risks, as well as 2 additional IROs with both an impact and a risk attached. The IROs are spread across 19 ESG topics.
All IROs are covered by ESRS disclosure requirements, except for the positive impact related to helping people with hearing loss, which is entity specific.
Overall, like any other risk, our risks are integrated in our strategy and business model through enterprise risk management processes, whereas managing our impacts is anchored in compliance with relevant legislation, as well as integration of additional policies, actions, and targets of our strategy and our business model where managing the impact requires additional efforts.
Report Date: 4Q2024Relevance: 60%
- Has your company, which employs fewer than 750 individuals on average during the financial year, opted to omit information as permitted by the phase-in provisions of Appendix C of ESRS 1? If so, have you conducted a materiality assessment to determine whether the sustainability topics outlined in ESRS E4, ESRS S1, ESRS S2, ESRS S3, and ESRS S4 are material to your operations? For each topic deemed material, provide a concise description of the actions undertaken to identify, monitor, prevent, mitigate, remediate, or terminate actual or potential adverse impacts associated with these sustainability matters, along with the outcomes of such actions.
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Question Id: BP-2_26
Where the ESRS allows for this, GN has made use of phase in and transitional provisions, meaning we do not report on data points that are voluntary on this basis for the reporting year.
The double materiality assessment identified 29 material IROs across seven topical standards. The IROs consist of 21 impacts and 6 risks, as well as 2 additional IROs with both an impact and a risk attached. The IROs are spread across 19 ESG topics.
All IROs are covered by ESRS disclosure requirements, except for the positive impact related to helping people with hearing loss, which is entity specific.
Overall, like any other risk, our risks are integrated in our strategy and business model through enterprise risk management processes, whereas managing our impacts is anchored in compliance with relevant legislation, as well as integration of additional policies, actions, and targets of our strategy and our business model where managing the impact requires additional efforts.
Report Date: 4Q2024Relevance: 65%
- Has your undertaking or group, which does not exceed an average of 750 employees on its balance sheet date during the financial year, opted to omit information as permitted by the phase-in provisions outlined in Appendix C of ESRS 1? If so, confirm whether the sustainability topics covered by ESRS E4, ESRS S1, ESRS S2, ESRS S3, and ESRS S4 have been assessed as material through your materiality assessment. Furthermore, for each topic deemed material, provide the relevant metrics associated with these sustainability matters.
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Question Id: BP-2_27
Where the ESRS allows for this, GN has made use of phase in and transitional provisions, meaning we do not report on data points that are voluntary on this basis for the reporting year.
The double materiality assessment identified 29 material IROs across seven topical standards. The IROs consist of 21 impacts and 6 risks, as well as 2 additional IROs with both an impact and a risk attached. The IROs are spread across 19 ESG topics.
All IROs are covered by ESRS disclosure requirements, except for the positive impact related to helping people with hearing loss, which is entity specific.
Overall, like any other risk, our risks are integrated in our strategy and business model through enterprise risk management processes, whereas managing our impacts is anchored in compliance with relevant legislation, as well as integration of additional policies, actions, and targets of our strategy and our business model where managing the impact requires additional efforts.
Report Date: 4Q2024Relevance: 60%
- Does the undertaking identify any material prior period errors as outlined in ESRS 1, section 7.5, regarding reporting errors in prior periods, and if so, what disclosures are provided in relation to these errors?
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Question Id: E1-1_01
GHG emissions in 2021 have been restated across all scopes because of adjustments, improvements in data quality, methodological changes and updates to emission factors (see table to the right). Restatements are compared to 2023, which included SteelSeries emissions. SteelSeries emissions from 2021, before the acquisition, were therefore already captured in the data. The baseline for our Scope 1 and 2 emission reduction target has been restated from 10,507 tCO2eq to 9,832 tCO2eq, a decrease of 6.4%.
Report Date: 4Q2024Relevance: 85%
- Provide an explanation of how your company's greenhouse gas emission reduction targets align with the objective of limiting global warming to 1.5°C, as stipulated by the Paris Agreement, in accordance with Disclosure Requirement E1-1 regarding the transition plan for climate change mitigation.
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Question Id: E1-1_02
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. These targets cover all GHGs stipulated in the GHG Protocol and all activities in GN’s own operations and value chain globally. Our near-term targets have been set using the Science Based Targets initiative’s (SBTi) Criteria v5.0 with the absolute contraction approach and the cross-sector pathway, which is based on the P1 scenario in the IPCC Special Report on Global Warming of 1.5°C. It has been assumed that GN’s core business activities will not change by 2030. We have aligned our net-zero target to the SBTi’s cross-sector absolute reduction method for long-term targets.
Report Date: 4Q2024Relevance: 95%
- Provide a detailed account of the decarbonisation levers identified and the key actions planned within your transition plan for climate change mitigation. This should include references to your GHG emission reduction targets and climate change mitigation actions, as specified in Disclosure Requirements E1-4 and E1-3. Additionally, elucidate any changes anticipated in your product and service portfolio, as well as the adoption of new technologies within your operations or across the upstream and/or downstream value chain.
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Question Id: E1-1_03
To meet our Scope 1 and 2 target of 80% reduction in emissions by 2030, we focus on:
- Renewable energy: We plan to continue sourcing renewable energy for our HQ and key production sites. We expect to source renewable energy for additional sites in 2025, further reducing market-based Scope 2 emissions.
- Energy efficiency: We expect to save approximately 140 tCO2eq in location-based Scope 2 emissions per year from the implemented energy efficiency initiatives.
- Fleet electrification: Reducing the number of fossil fuel cars in our fleet will lead to an increasing annual reduction of our Scope 1 emissions, the majority of which come from car fuels.
To meet our Scope 3 target of 25% reduction in emissions by 2030, we prioritize:
- Product and packaging design: We have increased the use of lower carbon materials in new product development, particularly in the Enterprise division. From having used less than 1% recycled or renewable plastic in our products in 2021, we have increased the proportion of recycled or renewable plastics and synthetic fibers out of total weight of plastic and synthetic fibers to 11.4% across our product portfolio in 2024.
- Decarbonization of transport and logistics: Reducing air freight is a significant decarbonization lever for GN. In 2024, we reduced the share of air freight (by tonkm) from the global to regional distribution hubs in our Enterprise division from 94% in 2021 to 22%, which was the main driver for the absolute reduction of 50,313 tCO2eq in Scope 3 category 4 (14% of total Scope 3 emissions in 2021).
- Renewable energy in the supply chain: To reduce emissions from outsourced manufacturing we track our suppliers’ share of renewable energy consumption and will engage them to increase where necessary in support of our long-term targets.
Report Date: 4Q2024Relevance: 85%