ABOUT THIS REPORT This is Palsgaard's seventh annual CSR report, covering the 2016 calendar year. It aims to provide a balanced overview that identifies the impacts and risks of our work with food ingredients and functional polymer additives, as well as our activities to counter these and to make positive contributions towards a more sustainable world. This report forms part of the management report in the company’s annual report in compliance with the Danish Financial Statements Act, Section 99a. REPORT SCOPE The scope of the report focuses on Palsgaard's manufacturing companies, and the research and development company Nexus A/S. Where noted, data also includes the Schou Foundation, Palsgaard Estate A/S and additional subsidiaries. These entities are collectively defined and referred to as ‘Palsgaard’ throughout the report. The underlying methodologies of the reported data are defined in the table ‘Reporting Practice’ on page 46. REPORTING PRINCIPLES This report has been prepared in accordance with the comprehensive principles in the Global Reporting Initiative’s G4 Sustainability Reporting Guidelines, and the associated supplement for the food processing sector. See our GRI Content Index on page 48 for a list of GRI indicators and references. The topics included in this report, and the material aspects we cover, were selected and prioritised by Palsgaard management on the basis of their interest and relevance to our own and our stakeholders’ reporting needs. These are detailed in the section on Materiality on page 11. We consider our most important stakeholders for sustainability to be our customers, our employees, trend-setting retail trade, regulatory authorities, the local community, the media, industry competitors and NGOs. INDEPENDENT REVIEW This report and its data were reviewed by an independent auditor, which has provided limited assurance. See the auditor’s statement on page 44. This COP qualifies for the Global Compact Advanced level PA LSGA A R D C SR R EPORT 2016 3
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