In addition to reporting in our Annual and sustainability reports, our sustainability efforts are continuously measured and analysed by external independent entities.
Our Annual and Sustainability reports are available online and as downloadable PDF.
Balder has been reporting according to the Global Reporting Initiative (GRI) for several years. Starting in 2023, we will further enhance our sustainability reporting by gradually aligning it with the new EU directives ESRD/CSRD.
To evaluate risks and opportunities linked to climate change, Balder follows the recommendations issued by the Task Force on Climate-Related Financial Disclosures (TCFD) and is working to implement the recommendations in the areas included.
The EU taxonomy
The EU Taxonomy is a common classification system that specifies what constitutes sustainable economic activities within an organisation. Balder is subject to disclosure requirements under the Taxonomy Regulation and reports both the proportion of economic activity covered by the EU Taxonomy (eligibility) and the proportion that aligns with the EU Taxonomy (alignment). To classify an activity as sustainable, it must significantly contribute to at least one of the Taxonomy's six environmental objectives, not cause significant harm (DNSH) to any of the other objectives and also meet the requirements of defined minimum safeguards.
ESG risk rating
We continuously engage the Morningstar company Sustainalytics to analyse Balder's exposure to industry-specific significant ESG risks (Environmental, Social, Governance) and how well we manage them. The lower the rating score a company receives, the better it positions itself on the scale.
In 2023 Sustainalytics updated Balder's ESG risk rating to 12.3 from 13.8. With that Balder remains stable within the low-risk range, and is closer to the desirable level of negligible risk.