CSR Report 2021

CSR Report 2021Toke Foss Chairman of the Board Letter to our stakeholders 2021 has been yet another turbulent year due to the continued pandemic, disruptions in global supply chains, component shortages and rising inflation. Navigating the short-term challenges has therefore been a top priority at DEIF in the past year, while never losing sight of the long- term threats of climate change, resource scarcity and inequality. total emissions upstream and downstream in our supply chain by two thirds. One of the most important projects in the coming year will be the construction of a new CO2- neutral factory located at the DEIF headquarters in Skive. At the same time, we increasingly move from global to local sourcing in order to reduce environmental impacts from shipping and storage. At DEIF we have made a strong commitment to contributing to global, sustainable development by the products and solutions we offer and by limiting the footprint of our activities. We aim for profitable and sustainable growth towards 2030 with two thirds of our revenue coming from products and solutions that have a positive climate impact. We pursue this target through different strategies. For years to come, fossil fuels still have a significant role to play in power generation. We know that our power management solutions can make a positive difference to these systems by improving the energy efficiency, and hence save fuel and CO2. At the same time, the demand for our hybrid solutions integrating renewables in combination with energy storage is steadily increasing, and we continuously add new, advanced control solutions to our portfolio. DEIF has a strong heritage of social responsibility. We want to be a fantastic place to work no matter if you work in Denmark or in DEIF subsidiaries around the world. We want to strengthen our spirit of winning together, stressing close collaboration, ambition, opportunities for development and a safe working environment. In September 2021, I took over the role as CEO of DEIF after Toke Foss. I am proud to be trusted with the leadership of DEIF and the fulfilment of the long-term strategy of profitable, sustainable growth. Based on ethics and responsibility towards employees, business partners, local communities and the planet, we continue the journey to make a real difference in the world. Christian Nielsen , Group CEO As regards the footprint of our own activities, we aim to be carbon neutral by 2025, and by 2030 we aim to reduce the Christian Nielsen Group CEOPage 1Page 3