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ESRS disclosure: ESRS ESRS 2 \ DR GOV-5
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- Provide a comprehensive description of the scope, main features, and components of your organization's risk management and internal control processes and systems as they pertain to sustainability reporting.
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Question Id: GOV-5_01
Our sustainability reporting is integrated into the annual reporting process, which has a well-established process for internal approval, controls, and external assurance. ESG data is subject to internal controlling through a dedicated ESG control function in our finance organization. As 2024 is the first year of CSRD reporting, the control environment is less mature than in financial reporting.
Report Date: 4Q2024Relevance: 60%
- Provide a detailed account of the risk assessment approach employed, specifically outlining the methodology used for risk prioritization, as per Disclosure Requirement GOV–5 concerning risk management and internal controls over sustainability reporting.
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Question Id: GOV-5_02
Using a risk methodology where we considered likelihood and impact of a risk materializing, we established that the main risks associated with our sustainability reporting relate to the accuracy and completeness of data, especially where ESG data is derived from financial data, dependent on input from suppliers, or based on estimates. To reduce these risks, we use third-party verified data.
Report Date: 4Q2024Relevance: 80%
- Provide a detailed account of the primary risks identified in your sustainability reporting processes and the strategies implemented to mitigate these risks, including any related control measures.
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Question Id: GOV-5_03
The main risks associated with our sustainability reporting relate to the accuracy and completeness of data, especially where ESG data is derived from financial data, dependent on input from suppliers, or based on estimates. To reduce these risks, we use third-party verified data: all financial input data used are sourced from data subject to external assurance, and for supplier input data, we use third-party standards and systems, such as EcoVadis. Where we use estimates, we base these on widely used third-party datasets, such as EconInvent for carbon emission factors.
Report Date: 4Q2024Relevance: 85%
- Provide a detailed account of how your organization incorporates the findings from its risk assessment and internal controls concerning the sustainability reporting process into its relevant internal functions and processes.
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Question Id: GOV-5_04
Our sustainability reporting is integrated into the annual reporting process, which has a well-established process for internal approval, controls, and external assurance. ESG data is subject to internal controlling through a dedicated ESG control function in our finance organization.
Report Date: 4Q2024Relevance: 85%
- Provide a detailed account of the periodic reporting of findings from risk assessments and internal controls over sustainability reporting to the administrative, management, and supervisory bodies, as outlined in Disclosure Requirement GOV–5.
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Question Id: GOV-5_05
The Board of Directors’ Audit Committee holds overall responsibility for overseeing the management of ESG-related impacts, risks, and opportunities (IROs), reporting into the Board for related decision-making. ESG is a quarterly recurring agenda topic in the Audit Committee.
Report Date: 4Q2024Relevance: 60%