Welcome Welcome to our Corporate Social Responsibility (CSR) report for the year covering 2022. Here is what you can find in this year’s report: Our CSR approach is underpinned by Palsgaard’s long-standing core values, open communication with our stakeholders, a materiality review, the UN Global Compact (UNGC) and the UN Sustainable Development Goals (SDGs). Four CSR focus areas and engagement in supporting the UN Development Goals help to keep us aligned when implementing CSR-related activities throughout the organisation. Having a comprehensive governance portfolio is essential in managing our employees, stakeholders along the value chain, and our production processes. Our Responsible Sourcing Programme and Anticorruption policies are guided by human rights principles outlined by global bodies. By focusing on responsible sourcing of raw materials, we aim to influence other food manufacturers, our customers, our suppliers and consumers in making responsible decisions. We acknowledge the impact that largescale production has on the environment. We aim to achieve CO2-neutrality for the whole company by the end of 2025, while carbon- neutral production was accomplished in 2018 and is maintained. Supplying the food and non-food industries with emulsifier and stabiliser products since our inception over a century ago, food quality and safety is essential in how we do business. Our production sites comply with internationally recognised standards with regular auditing. We are diligent in our approach and our clean food recall record is a testament to that. From the beginning, we have aimed to offer a rewarding, meaningful and safe workplace for all our "Heart Working People" – no matter where in the world they work. Our employee satisfaction and motivation results continue to top-rank within the Global Employee and Leadership Index (GELx). We want to make a meaningful impact in the communities in which we work and throughout the world. Palsgaard engages in a number of activities to empower those who are less fortunate, addressing areas such as education, job security, physical activity and preservation of local culture. Focusing on energy usage and environmental impact, we work tirelessly to reduce our impact as much as possible. Our CO2-neutral production sites have been realised through initiatives dating back to 2005, when we implemented straw-fired heating in Denmark. 3
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