GN Store Nord
ESRS disclosure: ESRS S4 \ DR S4-1 \ Paragraph AR 9
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- Can the company provide a detailed account of the process used to establish targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities, as outlined in Disclosure Requirement S4-5? This should include whether and how the company engaged directly with consumers, end-users, their legitimate representatives, or credible proxies with insight into their situation. Additionally, in accordance with Disclosure Requirement S4-1, the company is required to describe the key information necessary to ensure a faithful representation of the policies concerning consumers and end-users. This description must include explanations of any significant changes to the policies adopted during the reporting year, such as new expectations for business customers or new approaches to due diligence and remedy.
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Question Id: S4-1_08
GN has implemented several policies, actions, and targets for managing product safety and data privacy related risks. As data privacy and product safety are strictly regulated by international and local laws, targets are mainly determined based on these regulations. Given the compliance-based nature of IROs, GN has not directly engaged with consumers and end-users when setting targets, tracking performance, or when identifying lessons learnt.
Report Date: 4Q2024Relevance: 60%
- How does the undertaking ensure that processes to provide or enable remedy in the event of material negative impacts on consumers and end-users are available and effective in their implementation and outcomes?
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Question Id: S4-4_07
We have set a target on deviation response time, which we measure as the time taken to initiate corrective actions if we have three consecutive months of underperformance against our response time KPI. The ongoing target and baseline value was 20 days which was formally defined in 2024. The average response time was 16 days in 2024, which was within the target value.
To set this target, we utilized a combination of quantitative analysis (e.g., incident data trends, KPI metrics) and qualitative assessment (e.g., internal audits, stakeholder feedback). Cross-functional teams including Quality, Regulatory Affairs, Risk Management, and Product Development are involved in defining, monitoring, and refining our KPIs. Feedback from regulatory bodies and industry partners informs our approach, particularly for adjusting compliance timelines and addressing emerging risks.
Report Date: 4Q2024Relevance: 60%