Orsted
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
In preparation for the CSRD, a plan was established to perform walkthroughs to identify risks, reassess existing controls, and identify additional controls for sustainability reporting. This initiative started in 2024 and will continue until the end of 2025. These walkthroughs of sustainability reporting processes were prioritised based on the results of the DMA performed in 2023 with reference to the draft ESRS. Priority is given to the quantitative data points related to our material ESRS topics. The walkthroughs are facilitated by the Internal Control Assurance team (second line of defence) in collaboration with functions involved in the sustainability reporting processes and data collection processes. The risks discussed with the completeness, accuracy, and timeliness of the data as well as results of estimations and calculations are assessed based on materiality of the individual data points and process complexity.
Report Date: 4Q2024Relevance: 85%
- 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
The walkthroughs of sustainability reporting processes were prioritised based on the results of the DMA performed in 2023 with reference to the draft ESRS. Priority is given to the quantitative data points related to our material ESRS topics. The walkthroughs are facilitated by the Internal Control Assurance team (second line of defence) in collaboration with functions involved in the sustainability reporting processes and data collection processes.
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 walkthrough of the ESRS ‘E1 Climate change’ topic was finalised in 2024. It was confirmed that main risks in data collection and reporting processes for material data points within this area have been mitigated by relevant controls. Some controls required formalisation, which has been completed in 2024. Since January 2025, formalised controls for this area have been included in our ‘Internal control framework’ for financial and sustainability reporting processes to further monitor their design and operating effectiveness.
Report Date: 4Q2024Relevance: 60%
- 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
The Audit & Risk Committee monitors our sustainability reporting processes, including the plans for improvements, risks, internal controls, and their operating effectiveness.
Report Date: 4Q2024Relevance: 60%
- 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 Audit & Risk Committee monitors our sustainability reporting processes, including the plans for improvements, risks, internal controls, and their operating effectiveness.
Report Date: 4Q2024Relevance: 65%