Governance
Our ambition is to ensure solid governance internally and in our value chain at all times.
Solid Governance structure to minimize impact
Power production may have negative impacts on people and nature if not operated or constructed responsibly. It’s our duty to ensure that we act responsibly; Not only during construction, operation, but also after the power plant has been dismantled. We ensure trustworthy business conduct through guiding documents and procedures, such as our Code of Conduct, audits, our risk-minimizing procedures, our whistle-blowing channel and our responsible corporate culture.
The material topics in focus is Business conduct, which covers topics such as anti-corruption, bribery, whistleblowing and similar topics. We consider the risk of such incidents ocurring in our own operations to be low. However, as a part of global value chain, where upstream transparency is limited, we are indirectly associated with the risk of unethical behavior through our business relationships.
Governing Bodies
Cloudberry's governance structure is designed to ensure effective decision-making, oversight, and accountability. The key governing bodies for governance at Cloudberry include:
- General Meeting: The highest decision-making body where shareholders exercise their rights and influence the company's governance.
- Board of Directors: Responsible for overseeing the company's strategic direction, financial performance, and governance framework. The Board consists of individuals with diverse expertise in renewable energy, finance, compliance, and corporate governance.
- Audit Committee: Oversees financial reporting, internal controls, risk management, and audit processes, ensuring compliance with International Financial Reporting Standards (IFRS).
- Remuneration Committee: Ensures that executive remuneration policies are competitive, transparent, and aligned with shareholder interests.
- Environmental, Social, and Governance (ESG) Committee: Plays an important role in integrating ESG principles into business operations and strategy, ensuring compliance with sustainability frameworks.
- Nomination Committee: Proposes candidates for the Board of Directors and Nomination Committee, ensuring a transparent and objective process.These bodies work together to maintain high standards of corporate governance, ensuring accountability, ethical business conduct, and long-term value creation for both shareholders and stakeholders.
Relevant policies
Cloudberry Etiske retningslinjer for leverandører (pdf)
Supplier Code of Conduct Cloudberry (pdf)
Whistleblowing Policy Cloudberry (pdf)
Whistleblowing is a positive practice
Whistleblowing involves reporting unethical or wrongful practices within the company to someone who can address them. Whistleblowing is beneficial both for the company and for society because it allows for the correction of wrongdoing. Individuals willing to blow the whistle are valuable assets to us.
To notify misconduct within the Cloudberry Group, access the Reporting Channel Whistleblowing.
You may read our Whistleblowing Policy here
Read more about our sustainability approach, priorities, and achievements in our annual Sustainability Report.
Contact
Ingrid Bjørdal, Chief Sustainability Officer