Sustainability risks refer to risks directly or indirectly associated with environmental risks, climate change, the Code of Conduct and liability risks.
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SUSTAINABILITY |
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PRIORITY: FOCUS |
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DEVELOPMENT: |
17. Operational environmental risks |
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Inadequate management of the work on environmental risks could affect Castellum’s brand, legal compliance, and direct costs. Castellum works with environmental certification and environmental inventory to reduce environmental and health risks. 39% of the property portfolio is certified and 81% has undergone environmental inventory. Efficient property management focusing on decreased use of resources reduces the risk of high costs and environmental and health impacts, as well as providing customers with a healthy working environment. Since 2007, energy consumption has been reduced by 37% per square metre and carbon dioxide emissions by 85% per square metre. |
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18. Risks attributable to climate change |
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Inadequate efforts in analysing climate risks can lead to extensive unforeseen costs for Castellum in the form of emergency measures or obsolete properties, and thus lost rental income. Climate change could also entail increased operating costs. Investments in the wrong kind of measures in our properties could result in a risk of unprofitable investments, if climate change is not taken into account. Castellum is currently reviewing every investment issue from a climate perspective; we also work with environmental certification to reduce climate risks. |
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PRIORITY: FOCUS |
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19. Breach of the Code of Conduct |
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Risk of breaches of the Code of Conduct may exist internally as well as among engaged suppliers. Through properly integrated codes of conduct in the form of procurement requirements, mandatory training for all Castellum employees, an active compliance function and a whistleblower function, the risk of a breach is considered low. |
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LIABILITY RISKS |
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PRIORITY: MONITOR |
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DEVELOPMENT: |
20. Liability risks |
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Inadequate insurance coverage may result in unforeseen costs for Castellum. The obligation to pay compensation for damage caused can also arise for personal injury and damage to the property of another, as well as for remediation of environmental damage. |
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Reduced focus on risk area since previous year |
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Unchanged focus on risk area since previous year |
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Increased focus on risk area since previous year |
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