WELCOME 4 About this report This is Palsgaard's twelfth annual CSR report, covering the 2021 calendar year. It aims to provide a balanced overview that identifies the impacts and risks of our work with food ingredients and plant-based polymer additives, as well as our activities to counter these risks 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, Sections 99b and 99d. 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 Palsgaard Gods (Estate) and additional subsidiaries. The entities in scope 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 28. Reporting principles This report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards, comprehensive option, and the associated supplement for the food processing sector. There hasn't been any significant changes in reporting this year. This year, we have implemented the new GRI Standard disclosure GRI 303: Water and Effluents 2018 and GRI 403: Occupational Health and safety 2018. See our GRI content index on page 30 for a list of GRI indicators and references. The report also forms our Communication On Progress, being a signatory to the UN Global Compact. The topics included in this report, and the material aspects we cover, were selected and prioritised by Palsgaard management and the CSR team on the basis of their relevance to our own and our stakeholders’ reporting needs. These are detailed in the section on Materiality on page 8. We consider our most important stakeholders for sustainability to be our customers, our employees, our suppliers, regulatory authorities and local communities. Independent review This report and its data were reviewed by an independent auditor. See the auditor’s statement on page 26. This Communication on Progress qualifies for the Global Compact Advanced level
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