ESRS disclosure: ESRS ESRS 2 \ DR SBM-1

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  • Provide detailed information regarding the key elements of your general strategy that relate to or impact sustainability matters. This should include any main challenges anticipated, critical solutions or projects planned, and their relevance to sustainability reporting.
  • Question Id: SBM-1_23

    Key elements of our strategy that impact sustainability matters include developing, constructing, and operating renewable energy assets at scale. Main challenges include the use of virgin and scarce raw materials, energy- and emissions-intensive supply chain, vulnerable supply chain workers, renewable energy capacity build-out co-existing with nature, ecosystem and biodiversity impacts from our supply chain, local resistance to renewable energy assets, and political opposition to and lack of support for renewable energy build-out. We respond to these challenges through strategic sustainability priorities: Decarbonisation (optimising the use of resources and energy and reducing GHG emissions, collaboration with suppliers to decarbonise materials and processes, roadmaps to decarbonise key resources and processes, partnerships to improve recyclability of our renewable energy assets), Biodiversity (protect and preserve nature and reduce direct impact drivers of biodiversity loss, application of our measurement framework and the mitigation hierarchy, site monitoring and action plans, including positive impact efforts), and Community impact (ensure people in the regions where we operate benefit from and support the build-out, engagement and ongoing dialogue with affected communities, integration of affected communities’ perspectives in project planning phase).

    Report Date: 4Q2024
  • Provide a comprehensive description of your business model and value chain, as mandated by Disclosure Requirement SBM-1, under the Strategy, Business Model, and Value Chain section.
  • Question Id: SBM-1_25

    We create value by developing, constructing, operating, and owning renewable assets and by providing sustainable energy products to our customers. Our portfolio includes offshore and onshore wind farms, solar farms, energy storage, and CHP plants. Our business relies on natural resources, such as wind and sun, for our assets to generate the renewable energy we sell to our customers. To deliver on our renewable capacity target, we also depend on materials such as steel and copper and on critical raw materials. We secure those inputs through volume agreements and a thorough process for vetting new suppliers. We depend on human capital through our talented 8,000+ employees, working to create value every day while adhering to our core values. Our business model depends on financial capital where our partnership model plays a key role in recycling cash flow through farm-downs. We depend on political support for the continued renewable energy build-out, and we rely on a constructive dialogue with authorities, suppliers, investors, and joint venture partners.

    Report Date: 4Q2024