E4 – Biodiversity and Ecosystems

Transition plan and consideration of biodiversity and ecosystems in strategy and business model

Danica has not developed a transition plan for biodiversity and ecosystems that is fully compliant with the ESRS disclosure requirements. However, biodiversity considerations are integrated into Danica's business strategy and investment approach through specific targets and actions.

Danica recognizes that biodiversity is under pressure, and the restoration of biodiversity and ecosystems is crucial in terms of aligning with the Paris Agreement and safeguarding the foundation of the companies Danica invests in.

Biodiversity considerations are incorporated into the investment process as part of Danica's ESG integration and active ownership approach. The investment strategy takes into account biodiversity-related risks and opportunities when making investment decisions.

Danica has established specific biodiversity targets:

1. Active ownership target: Danica is to have conducted 30 engagements with 30 portfolio companies by the end of 2025
2. Nature-enhancing projects: Danica is to launch three to five nature-enhancing projects per year

These targets are integrated into Danica's overall sustainability strategy and are monitored as part of the quarterly sustainability reporting to management and the Board of Directors.

The biodiversity strategy also extends to Danica's real estate portfolio through Danica Ejendomme, where biodiversity considerations are integrated into property development and management practices.

Transition plan on biodiversity and ecosystems

Current assessment status In 2024, DSB prepared an initial assessment of impacts on nature and biodiversity.

Direct impacts DSB impacts biodiversity and ecosystems directly as well as indirectly. Our direct impacts arise from the fact that we carry on our activities in areas with a share of potentially valuable nature, which impacts local flora and fauna.

Indirect impacts The indirect impacts arise through the purchase of goods and services in our value chain. Our indirect impacts on biodiversity have been initially mapped. As biodiversity is a new area and calculation methodologies and reporting standards are still subject to significant uncertainty, the indirect impacts are currently not reported.

Risk mitigation in construction projects In connection with our major civil engineering and construction projects, we minimise the risks of nature and biodiversity impacts through engagement of local communities in the form of public meetings and collaboration with the authorities on EIA processes and local development plans.

Threatened species assessment No assessment has been made as to whether our operations impact threatened species, as their vulnerability varies greatly, and therefore it cannot be concluded at present whether their presence on or near DSB's areas of land entails a risk of impact.

Future work plan for 2025 In 2025, work will begin to identify and assess the need for mitigation actions as well as physical, systemic and transition risks related to biodiversity and ecosystems.

Nature positive value chain by 2040

Neste aims to drive a positive impact on biodiversity and achieve a nature positive value chain by 2024. A nature positive value chain means that throughout our value chain, we create more positive impacts on nature than causing adverse ones.

Our phased approach:

• 2025: Net positive impacts - Aim to create net positive impacts (NPI) for biodiversity from new activities from 2025 onward.
• 2035: No net loss - Target no net loss (NNL) of biodiversity from all ongoing activities by 2035.
• 2040: Nature positive impact throughout our value chain.

To achieve these goals, we apply the mitigation hierarchy to manage our biodiversity impacts: Avoid and minimize all negative impacts, restore affected areas and finally compensate for the residual impacts from our own operations.

Biodiversity and ecosystems transition plan

We have begun assessing and evaluating nature-related risks and opportunities in our operations and upstream supply chain using the LEAP approach (Locate, Evaluate, Assess and Prepare) developed by the Taskforce on Nature-related Financial Disclosures (TNFD). We are assessing the role of biodiversity to complement water and waste as nature-related pillars of our environmental sustainability strategy as our understanding of impacts, risk and dependencies matures.

In 2024, we conducted a nature assessment for own operations and upstream supply chain, aligned with the TNFD LEAP approach. In 2025, we will conduct further analysis to understand the impact on Novartis, the environment and society, including an assessment of downstream value chain impacts. In parallel, we are working with industry peers and WBCSD on an industry-specific roadmap on nature.

Potential material impacts from our own operations and upstream supply chain include those related to climate, water and raw material use. All but raw material use are covered by our existing environmental sustainability strategy. We therefore aim to implement a sustainable sourcing program, starting with a pilot in 2025. In parallel, we are conducting nature assessments at priority sites close to nature-sensitive areas. Where material, we will establish site-specific nature management plans.

The impact from our own operations is driven by GHG emissions, water use and water quality. The impact in our upstream supply chain is mainly driven by GHG emissions, water use, water quality and land use from raw materials.

Our Code of Conduct was updated to align with our Strategy 2030 and new regulatory requirements, such as supply chain due diligence and sustainability management best practices. We strengthened our existing commitments, particularly related to climate change and human rights, and introduced new ones to address emerging material topics like biodiversity, ecosystems, and the rights and welfare of workers in our value chain.

Transition Plan on Biodiversity and Ecosystems:

Stora Enso has developed a comprehensive transition plan for achieving net positive impact on biodiversity:

Partnership with IUCN: Stora Enso has developed a science-based framework using technology and data to forecast and enhance biodiversity impacts. The company's partnership with the International Union for Conservation of Nature (IUCN) offers expert insights to further refine and validate this framework.

Net Positive Biodiversity Target: Our biodiversity initiatives aim for a net positive impact, with action programmes in place until 2030 to enhance biodiversity at the species, habitat, and landscape levels.

Forest Management Approach:

• Sustainable forest management across 2.06 million hectares globally
• 99% forest certification coverage of land we own or manage
• Implementation of biodiversity-friendly forestry practices
• Restoration activities in sensitive areas

Technology and Innovation:

• Use of digitalisation, remote sensing technology, and artificial intelligence to enhance forest operations while aiding biodiversity protection and restoration
• Precise data collection to monitor forest volume, yield, variety, and detect diseases early
• Monitoring of tree species composition and deadwood creation with high granularity
• Identification of key areas for biodiversity enhancement

Ecosystem Services Enhancement:

• Focus on maintaining and enhancing ecosystem services from forest lands
• Protection of water resources and watersheds
• Soil conservation and improvement
• Habitat connectivity and corridor creation

Landscape-Level Planning:

• Integration of biodiversity considerations into forest management planning
• Collaboration with neighboring landowners on landscape-level conservation
• Ecosystem restoration projects
• Protection of high conservation value areas

Monitoring and Adaptive Management:

• Regular biodiversity monitoring and assessment
• Adaptive management based on scientific evidence
• Integration of climate change considerations
• Stakeholder engagement in biodiversity planning

Policies related to biodiversity and ecosystems

Danica's approach to biodiversity and ecosystems is integrated into the overall sustainability strategy and responsible investment framework. Biodiversity considerations are embedded in the following policies:

Responsible Investment Policy: Outlines principles for responsible investment practices that include consideration of biodiversity and ecosystem impacts. The policy describes processes for managing biodiversity aspects through ESG integration in investment selection, active ownership activities, and screening processes.

Active Ownership Policy: Defines Danica's approach to engaging with portfolio companies on biodiversity and ecosystem-related issues. This includes direct engagement with companies, voting on biodiversity-related proposals at general meetings, and collaboration with other investors on biodiversity initiatives.

ESG Strategy (Danica Ejendomme): The real estate subsidiary has adopted specific ESG considerations that include biodiversity aspects in property development and management. This strategy builds on Danica's overall sustainability approach and defines specific actions for the real estate portfolio.

As part of the Danske Bank Group, Danica also supports international biodiversity initiatives, including: • The Finance for Biodiversity Pledge • UN Sustainable Development Goals, including those related to biodiversity conservation • The UN Global Compact principles related to environmental stewardship

The policies are operationalized through business procedures and guidelines that integrate biodiversity considerations into investment decision-making processes. These policies are approved by the Board of Directors and are subject to regular review and monitoring to ensure effective implementation.

Our focus areas for biodiversity management include: • Land: We avoid the conversion of habitats with valuable biodiversity and aim to prevent deforestation. • Water: We promote sustainable water use. • Pollution: We mitigate environmental impacts from pollution as required under the applicable environmental regulations.

Neste has identified some vulnerable species and habitats to protect on our land, and within the Naantali terminal three hectares of forest have been protected. We follow strict criteria to mitigate pollution related environmental impacts and risks.

In 2024, we reinforced our commitment to a nature-positive value chain. Building on insights from the SBTN pilot, we continued to map material impacts on our supply chain by identifying, assessing and prioritizing raw materials and regions critical for biodiversity.

Biodiversity and ecosystems policies

We set minimum, mandatory requirements for the management of water, waste, wastewater and pharmaceuticals in the environment. Each part of the organization is required to protect the environment by reducing risk; to ensure individuals are appropriately skilled, competent and fit for performing their tasks properly; and to comply with environmental regulation.

Our environmental sustainability strategy includes nature-related considerations, and we are developing specific policies for biodiversity and ecosystems management based on our ongoing nature assessments.

By 2030, we plan to implement water use reductions for own and supplier sites based in water stressed basins that have potential material impacts on these basins. Sites are identified through our nature assessment, which follows the TNFD framework and guidance by the Science Based Targets Network (SBTN).

For Nature, we have made a new commitment to biodiversity, aiming to be best in class and aligned with the Global Biodiversity Framework. This commitment includes dedicating 30% of the land around our facilities to nature conservation by 2030. To do it right, we are partnering with Wildlife Habitat Council (WHC) in Latin America and International Union for Conservation of Nature (IUCN) in the EU.

Biodiversity and Ecosystems Policies:

Stora Enso has established comprehensive policies for biodiversity conservation and ecosystem protection:

Sustainable Forest Management Policy:

• Commitment to sustainable forestry practices that maintain and enhance biodiversity
• Implementation of ecosystem-based forest management approaches
• Protection of high conservation value areas within forest lands
• Restoration of degraded forest areas and habitats

Forest Certification Policy:

• Commitment to maintaining 99% forest certification coverage of land owned or managed
• Compliance with leading certification standards (FSC, PEFC)
• Regular third-party auditing of forest management practices
• Continuous improvement in certification standards

Species Conservation Policy:

• Protection of endangered and threatened species within forest areas
• Habitat management for key species groups
• Species-specific conservation measures
• Monitoring of species populations and trends

Ecosystem Services Policy:

• Recognition and management of ecosystem services provided by forests
• Integration of ecosystem service values into forest management decisions
• Protection of water resources and watersheds
• Carbon storage and climate regulation services

Biodiversity Research and Innovation Policy:

• Investment in biodiversity research and monitoring
• Collaboration with scientific institutions and conservation organizations
• Use of technology for biodiversity assessment and monitoring
• Integration of latest scientific knowledge into management practices

Stakeholder Engagement Policy:

• Engagement with indigenous peoples on traditional ecological knowledge
• Collaboration with local communities on biodiversity conservation
• Partnership with NGOs and conservation organizations
• Transparent reporting on biodiversity performance

No Net Loss/Net Positive Policy:

• Commitment to avoiding negative impacts on biodiversity
• Implementation of mitigation hierarchy (avoid, minimize, restore, offset)
• Target of achieving net positive impact on biodiversity by 2030

Policies Related to Biodiversity and Ecosystems

Vestas recognizes biodiversity and ecosystems as a material sustainability topic, particularly considering the environmental impact of wind energy infrastructure on natural habitats and wildlife.

Biodiversity Protection Framework

Environmental Impact Assessment: Vestas implements comprehensive environmental impact assessments for wind energy projects, including:

• Pre-construction biodiversity surveys
• Wildlife migration pattern analysis
• Habitat impact evaluation
• Species protection measures
• Long-term monitoring protocols

Project Development Integration: Our Development business incorporates biodiversity considerations throughout the project lifecycle:

• Site selection criteria include biodiversity impact assessment
• Permitting processes address environmental protection requirements
• Grid connection planning considers ecosystem connectivity
• Community engagement includes environmental stakeholders

Marine Biodiversity Focus

Offshore Wind Considerations: As we expand offshore wind capabilities, we specifically address:

• Marine ecosystem protection during construction and operation
• Seabird and marine mammal impact mitigation
• Benthic habitat preservation
• Sustainable installation practices that minimize ecosystem disruption

Collaborative Approach: Working with marine conservation organizations, research institutions, and regulatory authorities to:

• Develop best practice guidelines for offshore installations
• Support marine biodiversity research
• Implement adaptive management strategies
• Share learnings across the industry

Supply Chain and Manufacturing

Sustainable Materials: Consideration of biodiversity impacts in material sourcing including:

• Responsible sourcing of raw materials
• Supply chain requirements for environmental protection
• Partnership with suppliers on sustainability practices
• Life cycle assessment including biodiversity considerations

Land Use Management: At manufacturing and service facilities:

• Responsible land use planning
• Native vegetation preservation where possible
• Sustainable facility design and construction
• Local ecosystem integration

Policy Integration

Regulatory Compliance: Full compliance with biodiversity protection regulations across all operational jurisdictions

Best Practice Implementation: Adoption of international best practices for biodiversity protection in renewable energy development

Stakeholder Engagement: Active engagement with environmental organizations, local communities, and regulatory bodies on biodiversity protection

Continuous Improvement

Research and Innovation: Support for research into:

• Wildlife-friendly wind energy technologies
• Ecosystem impact mitigation measures
• Biodiversity monitoring technologies
• Habitat restoration techniques

Knowledge Sharing: Participation in industry initiatives to share knowledge and best practices for biodiversity protection in renewable energy development.

Governance

Environmental Management: Biodiversity protection is integrated into Vestas' environmental management system with regular review and improvement of policies and practices.

Community Engagement: Our community engagement processes specifically address environmental concerns and biodiversity protection measures with local stakeholders.

Actions and resources related to biodiversity and ecosystems

Active ownership and engagement

Danica exercises active ownership with portfolio companies to address biodiversity and ecosystem-related risks and opportunities. This includes: • Direct engagement with portfolio companies on biodiversity-related issues • Voting on biodiversity-related proposals at general meetings • Participation in investor collaborations focused on biodiversity conservation • Supporting companies in developing and implementing biodiversity strategies

In 2024, biodiversity and ecosystem considerations were integrated into Danica's active ownership activities, with specific focus on companies with significant biodiversity impacts or dependencies.

Investment process integration

Biodiversity and ecosystem considerations are integrated into Danica's investment process through: • ESG analysis that includes biodiversity risk assessments • Screening for companies with significant negative biodiversity impacts • Consideration of biodiversity-related opportunities in investment decisions • Use of biodiversity-related data and metrics in investment analysis

Real estate portfolio actions

Through Danica Ejendomme, specific actions are taken to support biodiversity and ecosystems: • Implementation of biodiversity considerations in property development projects • Integration of green building standards that promote biodiversity • Development of nature-enhancing features in real estate projects • Assessment of biodiversity impacts in property management decisions

Collaboration and initiatives

Danica participates in industry initiatives and collaborations focused on biodiversity: • Member of the Finance for Biodiversity Pledge • Participation in investor networks focused on biodiversity conservation • Collaboration with other financial institutions on biodiversity-related issues • Support for research and development in biodiversity measurement and management

Resources allocated

Danica has allocated resources to support biodiversity-related activities: • Dedicated sustainability team members with biodiversity expertise • Investment in biodiversity-related data and analysis tools • Allocation of time and resources for active ownership activities related to biodiversity • Training and capacity building for investment teams on biodiversity issues

Building on the development of our No Net Loss (NNL) and Net Positive Impact (NPI) methodology pilots in 2023, we continued to refine our NPI approach in future investment projects.

In 2024, we defined criteria for application of the mitigation hierarchy within Neste's new investments. This included development of new internal guidance for investment projects to follow. The first investment projects have started to implement the criteria in their development.

Implementing this approach is a key step toward creating net positive impacts on biodiversity from new activities starting in 2025.

Biodiversity approach development with Fauna & Flora: Our collaboration with Fauna & Flora, initiated in 2022, has been instrumental in developing Neste's biodiversity work. As an international, world´s oldest wildlife conservation charity, they have supported us in creating an approach to net positive impacts and nature positive value chain.

Actions and resources for biodiversity and ecosystems

Nature assessment implementation

In 2024, we conducted a nature assessment for own operations and upstream supply chain, aligned with the TNFD LEAP approach. In 2025, we will conduct further analysis to understand the impact on Novartis, the environment and society, including an assessment of downstream value chain impacts.

Industry collaboration

In parallel, we are working with industry peers and WBCSD on an industry-specific roadmap on nature.

Sustainable sourcing program

We therefore aim to implement a sustainable sourcing program, starting with a pilot in 2025. In parallel, we are conducting nature assessments at priority sites close to nature-sensitive areas.

Site-specific management plans

Where material, we will establish site-specific nature management plans for priority sites close to nature-sensitive areas.

Integration with existing programs

Potential material impacts from our own operations and upstream supply chain include those related to climate, water and raw material use. All but raw material use are covered by our existing environmental sustainability strategy.

In November 2024, the WHC (Wildlife Habitat Council) renewed its Gold Level Biodiversity Conservation Certification to Paulinia where Solvay undertakes a remarkable reforestation project which started in 2017 and will be concluded in 2028. Two new forestation projects were launched in 2024 in Linne Herten, Netherlands (tiny forest) and close to Map Ta Phut, Thailand (mangrove). These projects are financed by the new Solvay Travel Carbon Fund collecting €100 / ton CO2 emitted by our business travels.

Actions and Resources for Biodiversity and Ecosystems:

Science-Based Framework Development:

• Development of science-based framework using technology and data to forecast and enhance biodiversity impacts
• Partnership with IUCN to provide expert insights and validate biodiversity framework
• Integration of latest scientific research into biodiversity management

Forest Management Actions:

• Implementation of sustainable forest management across 2.06 million hectares globally
• Maintenance of 99% forest certification coverage through FSC and PEFC standards
• Species-specific habitat management and conservation measures
• Restoration of degraded forest areas and sensitive habitats

Technology and Digital Innovation:

• Use of digitalisation, remote sensing technology, and artificial intelligence to enhance forest operations while protecting biodiversity
• Precise monitoring of forest volume, yield, variety, and early disease detection
• High-granularity monitoring of tree species composition and deadwood creation
• Identification of key areas for biodiversity through advanced data analysis

Restoration and Enhancement:

• Active restoration programs in sensitive areas
• Creation of habitat corridors and connectivity
• Wetland restoration projects
• Buffer zone establishment around water bodies and sensitive areas

Collaboration and Partnerships:

• Partnership with International Union for Conservation of Nature (IUCN) for expert guidance
• Collaboration with scientific institutions on biodiversity research
• Engagement with local communities and indigenous peoples
• Partnerships with conservation organizations

Monitoring and Assessment:

• Regular biodiversity monitoring and impact assessment
• Species population tracking and trend analysis
• Habitat quality assessments
• Ecosystem health monitoring

Resources Allocated:

• Dedicated biodiversity specialists and teams
• Investment in monitoring equipment and technology
• Funding for restoration and conservation projects
• Research and development investments in biodiversity solutions
• Training and capacity building for forest managers

Target Implementation: Action programmes are in place until 2030 to enhance biodiversity at the species, habitat, and landscape levels to achieve the net positive impact target.

Targets related to biodiversity and ecosystems

Danica has established specific targets related to biodiversity and ecosystems to address material impacts identified through the double materiality assessment.

Active ownership target

Target: Danica is to have conducted 30 engagements with 30 portfolio companies by the end of 2025

Status: This target has been achieved in 2024. Danica has successfully conducted engagements with portfolio companies on biodiversity-related topics as part of its active ownership program.

Methodology: The target focuses on engaging with portfolio companies that have significant biodiversity impacts or dependencies. Engagements cover topics such as: • Biodiversity risk management • Ecosystem conservation efforts • Sustainable land use practices • Biodiversity-related disclosure and reporting • Development of biodiversity strategies and action plans

Nature-enhancing projects target

Target: Danica is to launch three to five nature-enhancing projects per year

Status: This target has been achieved in 2024. Danica has successfully launched nature-enhancing projects, primarily through its real estate portfolio managed by Danica Ejendomme.

Project types: Nature-enhancing projects include: • Green roof installations and biodiversity-friendly landscaping • Creation of habitat areas in real estate developments • Implementation of sustainable water management systems • Integration of native plant species in property developments • Collaboration with local environmental organizations on conservation projects

Target monitoring and reporting

Progress on both biodiversity targets is monitored through: • Quarterly sustainability KPI dashboard reporting • Regular reporting to the Executive Board and Board of Directors • Integration into the overall sustainability strategy follow-up • Documentation and tracking of engagement activities and project outcomes

These targets contribute to Danica's broader sustainability objectives and support the company's commitment to contributing to biodiversity conservation and ecosystem restoration. The targets are aligned with international frameworks and contribute to relevant UN Sustainable Development Goals related to biodiversity and ecosystem conservation.

Our biodiversity targets:

• 2025: Create net positive impacts (NPI) for biodiversity from new activities in our own operations from 2025 onward.
• 2035: Target No Net Loss (NNL) of biodiversity from all ongoing activities in our own operations by 2035.
• 2040: Aim to create nature positive impact throughout our value chain by 2040.

We are also exploring the introduction of time-bound targets to support our efforts in achieving a nature-positive value chain.

The scope of "Net positive impact" (NPI) and "No net loss" (NNL) approach is set for Neste's own operations. No net loss means net zero impact on biodiversity. NPI and NNL aim to address impacts through a mitigation hierarchy: avoiding and minimizing losses, restoring affected areas, and finally compensating the residual impacts, so that no biodiversity loss remains, and a positive impact is created.

Biodiversity Impact Targets

Rehabilitation of mined areas: 1-to-1 rehabilitation of mined areas in Paragominas, Brazil, within two hydrological cycles

No net loss – bauxite mine: No net loss of biodiversity for Hydro's bauxite mine, from a 2020 baseline

No net loss – new projects: No net loss of biodiversity in new projects

2024 Performance

Rehabilitation of mining areas: 100% - All suppressed land that has been released for rehabilitation prior to 2023, has been rehabilitated within the target of two years hydrological cycles, and a total of 292 hectares started rehabilitation in 2024.

Biodiversity and ecosystems targets

While we are in the early stages of developing specific biodiversity targets, our approach includes:

Water stressed basins

By 2030, we plan to implement water use reductions for own and supplier sites based in water stressed basins that have potential material impacts on these basins. We will set site-specific targets for both our own and supplier sites in these areas.

Site-specific targets

Basin-specific targets will be established for material sites in own operations and upstream suppliers, identified through our nature assessment which follows the TNFD framework and guidance by the Science Based Targets Network (SBTN).

Future target development

As our understanding of impacts, risk and dependencies matures through our ongoing nature assessments, we will develop more specific targets for biodiversity and ecosystems management.

We have sharpened our focus on the impact of our operations on nature and biodiversity, setting an ambition to halt nature loss across our value chain by 2033 and achieving nature-positive status by 2045.

Net-positive biodiversity impact from all new renewable energy projects commissioned from 2030, at the latest.

Biodiversity target:

• 30% land dedicated to Biodiversity by 2030

% of permeable land located near biodiversity sensitive areas in positive biodiversity management: New target introduced in 2024 with a 30% target by 2030.

Biodiversity and Ecosystem Targets:

Primary Biodiversity Target:

• Net Positive Impact on Biodiversity by 2030
  • Target: Achieve measurable net positive contribution to biodiversity across all operations
  • Scope: Species, habitat, and landscape levels
  • Implementation: Action programmes in place until 2030

Forest Certification Target:

• Forest Certification Coverage: 96% target (Achieved: 99%)
  • Current performance: 99% of land we own or manage covered by forest certification schemes
  • Status: ✅ Exceeded target
  • Standards: FSC (Forest Stewardship Council) and PEFC (Programme for the Endorsement of Forest Certification)

Ecosystem Enhancement Targets:

• Species Conservation: Maintain and enhance populations of key species within forest areas
• Habitat Quality: Improve habitat quality and connectivity across forest landscapes
• Ecosystem Services: Maintain and enhance ecosystem services including carbon storage, water regulation, and soil protection

Implementation Framework:

Science-Based Approach:

• Partnership with IUCN (International Union for Conservation of Nature) to validate and refine biodiversity framework
• Use of technology and data to forecast and enhance biodiversity impacts
• Integration of latest scientific research into target setting and monitoring

Monitoring and Measurement:

• High-granularity monitoring of tree species composition and deadwood creation
• Identification of key areas for biodiversity enhancement
• Regular assessment of biodiversity impacts and progress
• Use of digital technology, remote sensing, and AI for precise monitoring

Landscape-Level Targets:

• Enhancement of biodiversity at landscape scale through sustainable forest management
• Creation of habitat corridors and connectivity
• Integration with broader ecosystem conservation initiatives

Target Integration: Biodiversity targets are integrated with:

• Climate change mitigation (forest carbon sequestration: 4.3 million tonnes CO2 annually)
• Sustainable forest management across 2.06 million hectares
• Forest certification maintenance and improvement
• Stakeholder engagement with indigenous peoples and local communities

Impact metrics related to biodiversity and ecosystems change

Danica reports on biodiversity and ecosystem impacts primarily through its active ownership activities and nature-enhancing projects. The following metrics are tracked:

Active ownership engagement metrics

• Number of biodiversity-related engagements: 30 engagements conducted with 30 portfolio companies in 2024 • Engagement topics: Focus areas include biodiversity risk management, ecosystem conservation, sustainable land use practices, and biodiversity-related disclosure • Portfolio company coverage: Engagements target companies with significant biodiversity impacts or dependencies across various sectors

Nature-enhancing project metrics

• Number of nature-enhancing projects launched: 3-5 projects per year target achieved in 2024 • Project types: Green infrastructure, habitat creation, native species integration, and sustainable water management systems • Real estate portfolio integration: Projects primarily implemented through Danica Ejendomme's property development and management activities

Investment portfolio considerations

Biodiversity considerations are integrated into investment decisions through: • ESG analysis including biodiversity risk assessments • Screening for companies with significant negative biodiversity impacts • Active ownership engagement on biodiversity-related issues • Support for companies developing biodiversity strategies

Danica recognizes that comprehensive biodiversity impact measurement is an evolving area, and the company continues to develop its approach to biodiversity metrics and reporting in line with emerging standards and best practices in the financial sector.

Impact metrics related to biodiversity and ecosystems change

Forest Protection Initiatives

Launched Great Limpopo project in Mozambique to protect forests and counteract deforestation causes in line with the UN REDD+ protocol.

Land Protection Commitment

Eni promotes initiatives to support local communities to promote, in addition to the access to energy, economic diversification, training, community health, access to water and sanitation and land protection, in collaboration with international actors and in line with National Development Plans and the 2030 Agenda.

Environmental Protection Approach

Eni is committed to protect the environment through the search for innovative solutions aimed at reducing the impact of its operations, ensuring efficient use of natural resources, the protection of biodiversity and water resources, and the promotion of development models based on regenerative principles of the circular economy, with the aim of maximizing the recovery and valorization of waste and scraps.

Regenerative Development Model

Promotion of development models based on regenerative principles of the circular economy, demonstrating commitment to ecosystem restoration and biodiversity enhancement rather than just impact mitigation.

Biodiversity

As an airport operator, we own and manage extensive areas of land. The use of that land to ensure the safe operation of our airports can influence biodiversity. Emissions and pollution related to the activities in our value chain also impact biodiversity. The nature permit describes what steps the aviation sector needs to take to reduce NOx emissions that negatively impact nature. Keeping the nature permit is crucial for our license to operate.

In collaboration with our partners, we work to reduce CO2e emissions and pollutants, thereby contributing to the preservation of biodiversity both on airport premises and throughout our value chain. We remain committed to carefully evaluating these risks and implementing strategies to minimise their impact.

RSG is knowledgeable about the flora and fauna on its premises. Until recently, we primarily focused on what actions we can take to maintain the landscape in such a way that our operations are not disturbed by fauna. Now, we are enhancing our knowledge of the global biodiversity crisis. We also realise that our land is part of a greater ecosystem and are therefore exploring how we can directly contribute to enhancing biodiversity on our premises without increasing risks related to local fauna.

In 2024, we continued our efforts to maintain the weasel population at Schiphol as a natural and eco-friendly form of pest control. At the same time, we began capturing American crayfish, an invasive species in the Netherlands that threatens the local ecosystem and damages banks of ditches.

In 2025, Schiphol Group will establish a biodiversity baseline by collaborating with third-party experts, with the aim of enhancing the resilience of biodiversity to climate change while actively supporting and preserving ecosystems.

See page 108 for anticipated financial effects from biodiversity and ecosystem-related impacts, risks and opportunities.