Our approach to resilience analysis consists of two main components: assessing and managing transition risks and opportunities, and conducting physical climate risk assessments. Transition risks stem from a shift to a low-carbon economy and encompass factors such as new regulations, technological innovation, changing market dynamics, and shifting consumer preferences. We have effectively mitigated these risks by transforming our business model from fossil fuels to renewable energy, aligning our operations with a 1.5 °C climate trajectory. This proactive shift has positioned us well to capitalise on the increasing demand for renewable energy deployment.

The methodologies and emission factors used include:

• Global warming potential of greenhouse gases: CH4, N2O, SF6, as per the Intergovernmental Panel on Climate Change (IPCC): Climate Change 2021, The Physical Science Basis.
• Carbon emissions from fossil fuels at CHP plants: Cool, oil, natural gas, as per Danish Energy Agency: Standard factors for calorific value and carbon emissions, 2023.
• Carbon emissions from fossil fuels outside CHP plants: Diesel, petrol, fuel oil, jet fuel, as per American Petroleum Institute (API): Compendium of greenhouse gas emission methodologies for the natural gas and oil industry, 2021.
• Carbon emissions from power purchased in Denmark: EnerginetDK, 2023: General declaration on Miljødeklaration, 2021 (General declaration and environmental declaration, 2022).
• Carbon emissions from power purchased in other European countries: Association of Issuing Bodies (AIB): European Residual Mixes, 2023 (2022 data).
• Carbon emissions from power purchased in countries outside Europe: Institute for Global Environmental Strategies (IGES): list of grid emission factors, 2023.
• US Environmental Protection Agency (EPA): Supply Chain Greenhouse Gas Emission Factors, USD 2018.
• Purchased goods and services (category 1): Supply chain emission factors depending on product categories.
• Business travel (category 6): Assumptions: 'average car', 'unknown fuel type'.
• Fuel- and energy-related activities (category 3): Emissions from regular power sales and upstream supply chain for fuels.
• Capital goods (category 2): Wind farms, offshore. The model is based on the ISO 14040/44 life cycle assessment standard (L) and applied in the openLCA software. The modeling is conducted using the Environmental Footprint 3.0 LCIA (life cycle impact assessment) method, and the impacts of each activity/material come from the ecoinvent environmental database, version 3.8.