GN’s Sustainability Statement is reported based on the same consolidation principles as the financial statements, covering all GN divisions, markets, and global levels.

GN’s Sustainability Statement is reported based on the same consolidation principles as the financial statements, covering all GN divisions, markets, and global levels.

Following the materiality assessment and due diligence processes, this Sustainability Statement covers all upstream and downstream value chain activities.

As described in its charter, 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. Impacts cover areas where GN has a material impact on people or the environment, risks cover areas where ESG issues pose a material financial risk to GN, and opportunities cover areas where ESG issues present a material financial opportunity to GN. ESG is a quarterly recurring agenda topic in the Audit Committee. To ensure oversight of governance issues, business conduct cases reported through GN’s whistleblower hotline, as well as any other governance-related topic that requires Board oversight, are also presented to the Audit Committee on a quarterly basis. As part of the review and approval of GN’s double materiality assessment (see pages 49-51), in the reporting year, the Audit Committee was informed about all identified material IROs as part of approving their materiality, as well as the approach to implementation of due diligence, and results and effectiveness of policies, actions, metrics, and targets that form the basis of the reporting scope of this report. Aside from overseeing the identification of material IROs as part of compliance with reporting requirements, the Board also oversees the implementation of managing material IROs where these have an impact on the company strategy or relate to matters of risk and compliance.