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Report: Sagsnummer X25-BJ-10-XR

Report overview

Organization name	ALK-ABELLÓ A/S
CVR number	63717916
Sagsnummer	X25-BJ-10-XR
Period	2024-01-01 - 2024-12-31
Length (pages)	N/A
Length (words)	INVALID (that's INVALID the length of the Odyssey!)
Length (characters)	INVALID
Sustainability info

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Annual report

No PDF available for this report.
Documents

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Extra info

Assets

Type	Time	Amount	Unit
ifrs-full:Assets	2024-12-31	8246000000	vDKK
ifrs-full:Assets	2023-12-31	6726000000	vDKK
Revenue

Type	Start date	End date	Amount	Unit
ifrs-full:Revenue	2024-01-01	2024-12-31	5537000000	vDKK
ifrs-full:Revenue	2023-01-01	2023-12-31	4824000000	vDKK
XML

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   <mrv:SustainabilityReport contextRef="ctx1" id="fact1000" xml:lang="en">Employees1 Â North America: 568 Â  Europe: 2,066, Asia: 178 Â  1 ESRS 2-SBM 1-40(a.iii) Â Business and Â  value chain Â  ESRS 2-SBM1-42(a,b,c) Â  Research &amp; development Â  Resources Â  2024 results Â  IPR and Â  Process Â  Clinical Â  Regulatory Â  discovery Â  innovations and Â  trials Â  processes Â  formulations Â  +100 yearsâ profound Â 200,000 Â  understanding of allergy Â  additional patients treated Â  Externally sourced products Â  in 2024, bringing the total Â  ~2,800 employees with Â number to 2.6 million Â  diverse talents Â  Insights from academia, Â 380 million Â  patients and partners Â  Manufacturing Â  AIT doses produced Â  (excluding ALK's SCIT bulk Â  Raw materials, Â  extracts in the USA) Â  energy, water, etc. Â  Standardise Â  Production Â  Cultivate Â  allergen Â  at 8 sites Â  allergenic source Â  extracts Â  materials Â  Digital engagement Â ~45% Â  platforms Â  global market share in AIT Â  Financial resources Â Distribution and sales Â  ALK present Â  16 markets Â  Global Â  Digital patient Â  in 46 Â  served by Â  distribution Â  mobilisation Â  markets Â  partners Â  Safety, quality, and business ethics compliance Â  + Introduction to Allergy Â  ESRS 2-SBM1-40(e) Â  + The AllergyÂ strategy, launched in June 2024, builds on ALKâs promise Â to provide life-changing solutions to the millions of people with allergy. Â  The strategy is based on four pillars. Â  ALK will prioritise and focus the commercial activities to Â To help more people with allergies, ALK will innovate and Â strengthen its global leadership in respiratory allergy. Key Â  expand its R&amp;D pipeline in a balanced way. ALK will maximise Â  initiatives include targeted expansion of the respiratory Â  Innovate Â  the value of existing core products and diversify the portfolio Â  tablets to new patient groups and geographies, efforts to Â  into food allergy, anaphylaxis and other adjacent, allergic Â  increase prescription depth and breadth, digital mobilisa- Â  diseases with potential to become new growth levers. The Â  tion of patients and prescribers, and investments in high- Â  ambition is to become a market leader in each disease area. Â  impact markets. Â  Aspire to Â  annually help Â  Focus Â  5 million people Â  Optimise Â  living with Â  allergy by 2030 Â  To reduce complexity and maintain competitiveness, ALK Â  will further optimise operations and scale for growth. Initi- Â + Activities and targets in the AllergyÂ strategy are under- Â atives include streamlining the cost base, reducing struc- Â  pinned by ALKâs commitment to cultivate the capabilities of Â tural complexities, and investing in digital infrastructure. Â  its people and organisation to foster a strong performance Â  Cultivate Â  ALK will continue to focus on high quality, expand produc- Â  culture through high engagement and conduct business Â  tion capacity and longer-term explore options to optimise Â  sustainably by improving access to allergy care and reducing Â  the manufacturing set-up. Â  the environmental footprint. Â  Full paediatric coverage Â  S4-4 Â  Key initiatives with respect to the current core products were Â  the targeted expansion of the respiratory tablet portfolio to new Â  prescribers and patients, particularly children, and new geog- Â  raphies. Â  Work intensified in 2024 to secure regulatory approvals to Â  expand the product indications for the house dust mite (HDM) Â  tablet and the tree pollen tablet to include young children, after Â  authorities in Europe and North America accepted ALKâs regula- Â  tory filings for review. The filings were based on the largest-ever Â  phase III paediatric trials within the field, which ALK successfully Â  completed in 2023. Â  In December 2024, the authorities in 21 European countries Â  approved the HDM tablet, marketed as ACARIZAXÂ®, for treat- Â ment of young children aged five to 11. Initial market introduc- Â tions have taken place in ALKâs largest market, Germany, and Â  other key markets. Subject to approval, the HDM tablet is also Â  projected to become available for young children in the first half Â  of 2025 in Canada and the USA, where the tablet is marketed as Â  ODACTRAÂ®. Â The regulatory reviews of the tree tablet ITULAZAXÂ® are Â expected to be completed by mid-2025 in Europe and Canada, Â  allowing this tablet to become available for children and adoles- Â  cents ahead of the 2025/26 initiation season for pollen tablets. Â  Regulatory submissions for paediatric use have also been Â  submitted in other markets, such as Switzerland, the UK, and Â  Southeast Asia. During the secondÂ half of 2025,Â all five tablets Â are expected to be approved for all age groups â children, Â  adolescents, and adults â in all key markets across the main Â  respiratory allergies. Â  Leveraging full paediatric coverage of the tablet portfolio Â  is anticipated to deliver a material contribution to ALKâs Â  medium- and long-term growth. ALKâs commercial organ- Â  isation advanced launch preparations in 2024 with further Â  initiatives lined up for 2025. Launch activities will focus on all Â  existing tablet prescribers as well as potential new prescribers Â  in selected countries â paediatricians, ENT (ear, nose, and Â throat) specialists and other medical professionals, treating Â  the millions of children suffering from uncontrolled respiratory Â  allergies. Â  Growing the patient base Â  S4-4 Â  In Europe, ALK continued its efforts to mobilise eligible patients, Â  increase prescription depth and breadth among its key Â  prescribers, and strengthen advocacy for registered, evidence- Â  based treatment among regulators, payers, and prescribers. Â  As a result, ALKâs patient base saw double-digit growth, driven Â  mainly by the tablet portfolio. To further leverage its strongholds Â  and accelerate sales momentum, ALK increased investments in Â  high-growth markets, while operations in a few other markets Â  were downsized until market conditions improve. Â  NICE review in the UK Â  S4-4 Â  In the UK, a recent recommendation from the prominent National Â  Institute for Health and Care Excellence (NICE) has paved the Â  way for ACARIZAXÂ® to be included in the public National Health Â Service system, making it eligible for general reimbursement. Â  ALK has submitted a similar application for NICE reviews Â  regarding ITULAZAXÂ®. Currently, the UK is the only major AIT Â market in Europe where ALK's tablets are authorised without Â  adequate public reimbursement. Â  Expansion outside Europe Â  S4-4 Â  In Japan â the most important contributor to ALKâs tablet Â  sales outside Europe â ALK is supporting its partner Torii in Â  expanding manufacturing capacity for the Japanese cedar Â  pollen tablet to meet high demand. The upscaled capacity is Â  expected to become operational in late 2025. Meanwhile, Torii Â  has initiated clinical development of ALKâs grass pollen allergy Â  tablet (GRAZAXÂ®) with a view to expanding the current portfolio Â comprising CEDARCUREâ¢, the only approved tablet for treat- Â  ment of Japanese cedar pollen induced allergy, and MITICUREâ¢ Â  for treatment of HDM-induced allergy. Â  In India, ALKâs partner Dr. Reddyâs Laboratories obtained Â regulatory approval for ALKâs HDM tablet for treatment of adults Â  with uncontrolled HDM-induced allergic rhinitis and/or allergic Â asthma as well as adolescents with uncontrolled allergic Â  rhinitis. The tablet, marketed as Sensimuneâ¢ in India, will be Â  launched in 2025, as soon as an import license is in place. Â  Efforts to increase market uptake of tablets are also progressing Â  in the Southeast Asian markets, served by ALKâs partner Abbott, Â  and in Canada. In 2025, ALKâs product offering in Canada will Â  be strengthened by the expected approval of tablets for use in Â  children and the in-licensing of neffyÂ®, as described below. Â Expanding Â  the addressable Â  markets Â  ESRS 2-SBM1-40(g);S4-41 Â ALK addresses markets with a current Â  value of around DKK 13 billion. The Â  + Allergy strategyÂ aims at helping more Â people with allergies to a better life Â  by unlocking the potential in existing Â  markets and expanding into new therapy Â  areas with high unmet needs. Â  (Market data below is own estimates, to the greatest extent Â  possible based on external sources, including IQVIA and other Â  local market data providers). Â  The global market for allergy immunotherapy (AIT) treatments Â  â ALKâs core business â is estimated to be worth around DKK Â  12 billion, measured in 2024 ex-factory sales. The AIT market Â  is underpenetrated and geographically concentrated around Â  Europe, North America, China, and Japan. Since 2019, the AIT Â market is estimated to have grown on average by high single Â  digits, while ALKâs revenue from tablets, injections (SCIT) and Â  drops has grown by 12% p.a. (CAGR), thus strengthening ALKâs Â  market position as market leader. Â 1 Numbers in this section have not been subject to the limited assurance on the Â  sustainability statement carried out by the independent auditor. Â  Respiratory Allergy Â  Anaphylaxis Â  &gt;50 million Â  &gt;20 million Â  People eligible for AIT Â  People at risk for anaphylaxis in Europe Â  ~12bn DKK Â  ~4 million Â  Estimated AIT market value Â  Autoinjectors sold in Europe per year Â  ~45% ALK share Â  ~1.4bn DKK Â  of global market Â  Estimated market value in Europe Â  Under-treated, Â  ALK core business Â  high potential Â  with high potential Â  Respiratory Â  therapy area with Â  Allergy Â  the right innovation Â  Anaphy- Â  laxis Â  Food Allergy Â  New adjacent Â  Food Â  therapy areas Â  Allergy Â  New Â  ~200 million Â  adjacent Â  therapy Â  People affected globally Â  areas Â  ~8% Â  Indications with Â  of children are affected in the USA Â  high unmet needs and strong Â  capability fit to ALK Â  ~2.5 million Â children (4-17) with peanut allergy Â  in the USA and Europe Â  Therapy area with Â  high unmet need, close to Â  core with high potential Â  Even so, respiratory allergy remains a disease area with signif- Â  icant under-treatment. At least 50 million people with severe Â  uncontrolled symptoms would potentially be eligible for AIT Â  treatment, but only around five million were estimated to receive Â  AIT in 2024, hereof more than two million with products from Â  ALKâs AIT portfolio, which spans around 40 different allergies, Â  excluding US bulk SCIT extracts. Â  Strong fundamentals Â  Although it varies considerably across geographies and age Â  groups, the prevalence of respiratory allergy is on the rise, and Â  research suggests that this trend will continue. Global warming, Â  for instance, affects plant and pollen cycles, prolongs pollen Â  seasons and causes species, such as ragweed, to spread to Â  new regions. Urbanisation sees more people migrating to cities Â  where they are exposed to higher levels of air pollution, while Â  people living in sterile, urban environments do not enjoy the Â  same protection as people in rural areas, where a wide range of Â  microbial exposures lowers the risk of allergic sensitisation and Â  disease. Â  + Market expansion is a key part of ALKâs AllergyÂ strategy. Efforts Â include enlargement of AIT prescriber bases, digital mobilisa- Â  tion of eligible patients, advocacy for evidence-based medi- Â  cines, and efforts to expand the reach of the respiratory tablet Â  portfolio to certain new geographies and new patient groups, Â  not least by leveraging the up-coming paediatric indications for Â  the full tablet portfolio. Globally, it is estimated that more than Â  ten million children, aged five to 11, have uncontrolled respira- Â tory allergies and the number is growing. Â  Significant under-treatment Â  Anaphylaxis, currently ALKâs second largest disease area, is also Â  an area with significant under-treatment and high growth poten- Â  tial. In Europe alone, more than 20 million people are estimated Â  to be at risk of experiencing severe, acute allergic reactions Â  (anaphylaxis) after exposure to e.g. specific food, or bee or wasp Â  stings, but only around 2 million Europeans carry recommended Â  rescue medication, predominantly adrenaline autoinjectors Â  (AAIs) such as ALKâs JextÂ® pen. The number of AAIs sold in Europe Â has been growing by 8% p.a. over the last decade. Â  The recent in-licensing of neffyÂ®, the worldâs first and only nasal Â spray for anaphylaxis treatment, allows ALK to cultivate markets Â  in Europe and Canada â where the combined value of current Â  AAI sales is estimated at around DKK 1.6bn (2023) â and high- Â  potential markets in Asia and the Middle East. neffyÂ® is expected Â to expand markets because the spray eliminates needle-related Â  safety concerns, fear and hesitation, as demonstrated by other Â  emergency medicines going from needles to nasal. Â  Food allergy on the rise Â  ALKâs ambition in food allergy is to build a portfolio of treatments Â  that address unmet medical needs among the ~200 million Â people affected worldwide, particularly children. The preva- Â  Others include diagnostics of allergens, Â  diagnostics of penicillin allergy, and life Â  science products Â  lence of food allergy is increasing, mostly driven by pollution, Â  urbanisation, and dietary factors associated with cultural/ Â  social behaviours (e.g. obesity, vitamin D deficiency, dietary fat, Â  etc.) Â  ALKâs most advanced programme targets peanut allergy, the Â  most common cause of severe, life-threatening food-related Â  allergic reactions. The condition often manifests during child- Â  hood and persists into adulthood for up to 80% of patients. In the Â  USA, peanut allergy affects up to 1.5 million children and adoles- Â  cents, while in Europe, around one million children and adoles- Â  cents are affected. Some reports suggest that the prevalence of Â  peanut allergy has tripled over the last decade. Â  ALK targets 5 million patients annually by 2030 Â  Million patients Â  5 Estimated number of Â  patients in treatment Â  4 with ALK products (AIT Â  3 2.6 Â  and anaphylaxis) and Â  2.4 Â  2.4 Â  2.0 Â  2.1 Â  AIT products based on Â  2 allergens from ALK. Â  1 0 2020 2021 2022 2023 2024 Â  In 2023, a net increase of ~200,000 AIT patients was offset by fewer Â JextÂ® patients due to intermittent supply shortages. 2024 saw Â growth in the number of both AIT and JextÂ® patients. Â Revenue by geography Â  ESRS 2-SBM1-40(a.ii, f) Â  Growth Â  Amounts in DKKm Â  2024 Â  (l.c.) Â  2023 Â  Europe Â  3,914 Â  22% Â  3,216 Â  North America Â  906 Â  0% Â  908 Â  Intâl markets Â  717 Â  4% Â  700 Â  Revenue Â  5,537 Â  15% Â  4,824 Â  Revenue by product line Â  ESRS 2-SBM1-40(a.i, f) Â  Growth Â  Amounts in DKKm Â  2024 Â  (l.c.) Â  2023 Â  SLIT-tablets Â  2,851 Â  24% Â  2,296 Â  SCIT/ SLIT-drops Â 2,052 Â  6% Â  1,939 Â  Other products Â  634 Â  7% Â  589 Â  Revenue Â  5,537 Â  15% Â  4,824 Â  Board composition Â  ESRS 2-Gov 1-21(a,b,d,e) Â  The Board of Directors consists of 11 non-executive members. Â Seven of the none-executive members, including the Chair and Â  the Vice Chair, are up for re-election each year at the Annual Â General Meeting. Four members are employee-elected, each Â  serving a four-year term (the last election was in 2023). No Â  member of the Board of Management serves on the Board of Â  Directors. Â  With two female members on the Board of Directors, ALK Â  meets its target of having a minimum of two members (29%) Â  of the underrepresented gender among the non-executive Â  shareholder-elected members in accordance with section 107d Â  of the Danish Financial Statements Act. Furthermore, three out of Â  four employee-elected members are female. Â  At the Annual General Meeting in 2024, all shareholder-elected Â  board members were re-elected. The Board of Directors Â  has a preponderance of independent, shareholder-elected, Â  Composition of the Board of Directors Â  ESRS 2-GOV1-21(a, b, d, e) Â  2024 Â  20231 Â Number of non-executive members Â  Number of shareholder-elected members Â  7 7 Number of employee-elected members Â  4 4 11 Â  11 Â  Number of executive members Â  - - Independent members of the Board of Directors Â  Percentage of independent members in shareholder-elected members Â  71% Â  71% Â  Percentage of independent members in shareholder and employee-elected members Â  45% Â  45% Â  Board gender diversity Â  Male Â  Shareholder-elected Â  5 5 Employee-elected Â  1 1 Total Â  6 6 Female Â  Shareholder-elected Â  2 2 Employee-elected Â  3 3 Total Â  5 5 Ratio of female to male in shareholder and employee-elected members Â  45% Â  45% Â  Percentage of underrepresented gender in shareholder-elected members Â  29% Â  29% Â  Composition of the Executive Leadership Team1 and their direct reportsin management positions Â ESRS 2-GOV1-21(a, b, d, e) Â  2024 Â  2023 Â  Executive Leadership Team and their direct reports in management positions Â  Number of males Â  26 Â  25 Â  Number of females Â  21 Â  18 Â  Total Â  47 Â  43 Â  Percentage of underrepresented gender Â  45% Â  42% Â  Percentage of females in total workforce Â  62% Â  62% Â  members, as five board members (out of seven) in 2024 may be Â  considered independent according to the definitions set by the Â  Danish Committee on Corporate Governance. Â  All board members are presented on pages 33-34 of this annual Â  report, while ALKâs Executive Leadership Team is presented on Â  page 35. Four members of the Executive Leadership Team are Â  registered with the Danish Business Authority and legally consti- Â  tute ALKâs Board of Management. Â  Competency matrix for the Board of Directors Â  ESRS 2-GOV1-23(a, b); G1-GOV1-5(a, b) Â  The Board of Directors represents international business expe- Â  rience from management positions in a variety of industries, Â  and particular regard is given to the membersâ insight into the Â  management and globalisation of R&amp;D driven companies. The Â  Board also has overall expertise in sustainability matters that Â  are material to ALK and sustainability knowledge is integrated Â  into board committees and the Board itself. External advice on Â  specific sustainability topics is obtained, if needed. Â  To assess whether all of the necessary core competencies are Â  adequately represented, each shareholder-elected member Â  of the Board has been asked to identify the primary competen- Â  cies they bring to the Board, in the context of ALKâs long-term Â  strategy. Employee-elected members are not part of the compe- Â  tency assessment. For the Chair and Vice Chair, two additional Â competencies, specific to these roles, have been identified. Â  Highlights of the remuneration report Â  ESRS 2 â Gov 3; E1-GOV3-13 Â  ALKâs remuneration report for the Board of Directors and the Â  Board of Management provides an overview of remuneration Â  components, actual remuneration in 2024, its development over Â  the past years, and the individual shareholdings of members Â  of the Board of Directors and Board of Management. All remu- Â  neration for the Board of Directors and Board of Management Â  in 2024 followed the principles and framework outlined in ALKâs Â  remuneration policy. The remuneration report for 2024 will be Â  presented for an advisory vote at the AGM on 13 March 2025. Â  The report is prepared in accordance with section 139b of the Danish Â  Companies Act and is available at https://ir.alk.net/corporate-governance. Â Members of the Board of Directors each received a fixed annual Â  fee, with the Vice Chair and Chair receiving double and triple the Â  annual fee, respectively. Members also received an additional Â  fee for serving as member or chair on the Board committees. Â  The fees for serving on the Board and the Board committees Â  remained unchanged in 2024. Â  The remuneration for the Board of Management consisted of Â  both fixed pay elements (base salary and benefits) and variable Â  pay elements in the form of short-term incentive (STI) and long- Â  term incentive (LTI) plans. The programmes reward the attain- Â  ment of pre-defined financial and non-financial targets linked to Â  the companyâs strategy. The STI and LTI plans are governed by Â  ALKâs remuneration policy. Â  The remuneration policy is submitted for advisory approval at Â  ALK's Annual General Meeting at least every four years. The Â  remuneration policy allows for STI and LTI plans to include both Â  financial and non-financial KPIs, including sustainability-related Â  targets. The targets linked to the annual STI and LTI plans are Â  approved each year by ALKâs Board of Directors. In accordance Â  with the remuneration policy, ALK's Board of Directors does not Â  participate in short or long-term incentive schemes linked to Â  company results. Â  Short-term incentive scheme (STI) Â  The KPIs for the STI include sustainability targets accounting for Â  15% of pay to the CEO and 11% for the remainder of the Board Â  of Management. The sustainability targets reward ALK's Board Â  of Management for successfully preparing ALK for the CSRD Â  and EU Taxonomy reporting and for getting science-based CO2 Â reduction targets approved. This supports ALK's ability to set Â  additional sustainability targets in the future. The STI plan also Â  rewards the achievement of gender balance in senior manage- Â  ment and securing a high level of employee engagement. Â  Long-term incentive scheme (LTI) Â  Achievement of the LTI plan for 2022-2024 is linked to the Â  fulfilment of both financial and sustainability targets with Â  sustainability-related targets accounting for 10% of the plan Â  for all members of the Board of Management. This is a grouped Â  milestone that includes climate-related considerations. The LTI Â  plan includes a previously established target linked to green- Â  house gas (GHG) emission reduction, which does not align with Â  the Science Based Targets initiative (SBTi) target reported Â  under Disclosure Requirement E1-4. It also includes targets Â  for increasing the share of the underrepresented gender in Â  management positions at VP and Senior Director level to 34% Â  and on increasing the number of patients benefitting from ALKâs Â  allergy products. Â  The variable pay elements were settled above target and reflect Â  strong performance in the financial and non-financial KPIs Â  defined for the STI and LTI plan. The general increase in base Â  salary for members of the Board of Management was 3%, in line Â  with the general increase for ALK employees in Denmark. There Â  was no increase applied to the base salary for the CEO while the Â  base salary for the CFO increased above the general level to Â  align it more closely to market benchmarks. Â  To support investments in ALKâs new strategy, the Board of Â  Directors is extending its recommendation that dividend Â  payments be suspended until ALKâs cash flow further improves. Â  Accordingly, the Board of Directors will propose to the AGM, that Â  no dividends should be declared for 2024. The Board of Direc- Â  tors revisits the dividend policy and ALKâs capital structure on an Â  ongoing basis. Â  Up to and including 15 March 2027, the Board of Directors is Â authorised to increase the share capital by up to DKK 11,141,196, Â with or without pre-emption rights for existing shareholders. Â  The Board of Directors is authorised for the period until 22 March Â  2028 to let the company acquire its own B shares for a nominal Â  value of up to DKK 11,141,196. The consideration for such shares Â may not deviate by more than 10% from the official quoted price Â  of the B shares on the date of acquisition. Â  Investor Relations Â  During 2024, ALK representatives participated in many indi- Â  vidual meetings and briefing calls with analysts and investors as Â  well as conferences and seminars targeting various audiences. Â  ALK also hosted a well-attended Capital Markets Day in June Â  2024 where management presented ALKâs new strategy. Â  All regulated company announcements are available on ALKâs Â  corporate website together with reports, presentations, Â  recordings of telephone conferences, share price information, Â  analystsâ estimates, and related information. Registered share- Â  holders are encouraged to sign up on the InvestorPortal. Â  Competencies2 Â Specific expertise within management and Â  sales &amp; marketing in international life science Â  companies. Â  Directorships2,3 Â Ellab, Chair and chair of the Remuneration Â  Committee Â  Rodenstock Group, Germany: Member of the Â  Advisory Board Â  Candela Medical, USA: Board adviser Â  Competencies2 Â Experience in management, financial and Â  economic expertise, experience in strategy Â  and communication in international compa- Â  nies. Â  Directorships2,3 Â Ãrsted A/S: Chair and chair of the Nomination Â  &amp; Remuneration Committee Â  Falck A/S4: Vice Chair and member of the Remu- Â neration and Nomination Committee Â  H. Lundbeck A/S4: Vice Chair and member of Â the Remuneration &amp; Nomination and Â  Scientific Committees Â  Nordea Bank Abp, Finland: Vice Chair and Â  member of the Audit Committee Â  Competencies2 Â Global leadership experience and comprehen- Â  sive understanding of international manage- Â  ment, finance, IT, and sales &amp; marketing, as Â  well as insights into building digital commu- Â  nities. Â  Directorships2,3 Â UNION therapeutics A/S: Board member Â  Tobii Dynavox: Chair Â  GN Foundation: Chair Â  Competencies2 Â Experience in management, finance, and Â  sales &amp; marketing in international life science Â  companies, including med-tech and pharma- Â  ceutical businesses. Â  Directorships2,3 Â Biovica International AB, Sweden: Chair and Â  member of the Audit Committee Â  H. Lundbeck A/S: Board member and member Â  of the Audit Committee Â  The Lundbeck Foundation: Board member and Â  Chair of the Investment Committee Â  Vitrolife AB, Sweden: Board member and Â  member of the Audit Committee Â  Competencies2 Â Management and commercial experience from Â  35 years with global pharmaceutical compa- Â  nies, including roles at Ascendis Pharma, Â  Inc., Radius Health, Inc. and Novo Nordisk Â  Inc., USA. Unique expertise in establishing Â  and expanding commercial activities in North Â  America, including product launches. Â  Directorships2,3 Â SciBase AB, Stockholm: Chair Â  Flen Health SA, Luxemburg: Director Â  2 ESRS 2-GOV1-21(c) Â  Competencies2 Â More than 30 years' experience of Â  global executive R&amp;D leadership Â  in pharmaceuticals (Astra, Astra- Â  Zeneca, Almirall) and biotech (ASLAN Â  Pharmaceuticals, eTheRNA Immuno- Â  therapies, Galecto Inc.). Experience Â  in multi therapy area and bringing- Â  blockbuster therapeutics to market Â  globally. Served on the Research Â  Board of AstraZeneca. Participated Â  in a range of IPOs, acquisitions, and Â  debt-financing activities. Â  Directorships2,3 Â Aqilion AB, Sweden: Chair of the Board Â  and member of the Remuneration Â  Committee Â  Cellevate, Sweden: Director of the Â  Board Â  Competencies2 Â More than 30 years of experience from Â  the consumer healthcare industry, Â  including roles in Sanofi, Bayer and Â  Roche. Â  Competencies2 Â Experience in project management of Â  global drug development projects in Â  the pharmaceutical industry. Â  Directorships2,3 Â The Lundbeck Foundation: Board Â  member, employee-elected Â  Competencies2 Â Expertise in production and release of Â  ALKâs active pharmaceutical ingre- Â  dients for sublingual immunotherapy Â  products. Â  Competencies2 Â Experience in the development of new Â  vaccines, project management of drug Â  discovery projects, and most recently Â  governance of data digitalisation and Â  AI projects. Â  Competencies2 Â Experience in HVAC systems, clean- Â  room testing, utensil washing and Â  sterilisation for the pharmaceutical Â  industry. Â  2 ESRS 2-GOV1-21(c) Â  ESRS 2 Â  General disclosures Â  Basis for preparation Â  ESRS 2-BP1 Â  General basis for preparation of Â  the sustainability statement Â  ALK has aligned its reporting with the European Corporate Â  Sustainability Reporting Directive (CSRD), which is applicable to Â  ALK from 1 January 2024, and Article 8 of the Taxonomy Regu- Â  lation (EU) 2020/852. The sustainability statement has been Â  prepared on a consolidated basis, covering the entire ALK group Â  and subsidiaries, in line with the financial statements. Â  The sustainability statement is based on a Double Materiality Â  Assessment (DMA) covering ALK's own operation as well as its Â  upstream and downstream value chain. Policies, actions and Â  targets also cover the value chain when related to its impacts, Â  risks and opportunities. No information on intellectual property Â  or know-how has been omitted. Â  For a detailed description of the scope, methodology and assumptions Â  behind the DMA process, see ESRS 2 IRO-1 on pages 41-43. Â  ESRS 2-BP2 Â  Disclosures in relation to specific circumstances Â  Time horizons Â  ALK defines the medium-term time horizon as the period ranging Â  from over 1 to 3 years, and long-term as any timespan beyond Â  3 years. The time horizons are based on ALKâs Enterprise Risk Â  Management framework. Â  Sources of estimation and outcome uncertainty Â  The use of estimates for metrics, including data from the value Â  chain, is outlined in the relevant accounting policies. Â  ALK identified the following estimates, assumptions and judge- Â  ments as significant for the sustainability statement: Â  â¢ "PurchasedÂ goods &amp; services" (scope 3, category 1) green- Â house gas emissions (Â see E1-6 on page 54) Â â¢ "WaterÂ consumption for irrigation" (Â see E3-4 on page 60) Â â¢ "GenderÂ pay gap" (Â see S1-16 on page 78) Â â¢ "NumberÂ of patients in treatment" (Â see S4-5 on page 85). Â Incorporation by reference Â  See appendix "Incorporation by reference" on pages 92-93 IBR for the list Â  of datapoints incorporated by reference and phased-in, according to ESRS Â  2-BP2-16. Â  ESRS 2 Â  Sustainability governance Â  ESRS 2-GOV1 Â  The role of the administrative, management Â  and supervisory bodies Â  ESRS 2-GOV2 Â  Information provided to, and sustainability matters Â  addressed by the undertakingâs administrative, Â  management and supervisory bodies Â  ALK's governance model ensures that sustainability is systemati- Â  cally managed and integrated into decision-making and business Â  strategy. It promotes long-term value creation while addressing Â  societal and environmental challenges. The model defines clear Â  roles and responsibilities and provides a framework for setting and Â  monitoring sustainability targets. Â  Information about the composition, diversity, expertise and business Â  conduct-related role of the administrative, management and supervisory Â  bodies, according to ESRS 2-GOV1-21(a, b, d, e), ESRS 2-GOV1-23(a, b) and Â  G1-GOV1-5(a, b), is incorporated by reference to the section "Corporate Â  governance" of Corporate matters on pages 28-29. Â Information about experience of Board of Directors' members relevant to ALK's Â  sectors, products and geographic locations, according to ESRS 2-GOV1-21(c), Â  is incorporated by reference to the section "Board of Directors" of Corporate Â  matters on pages 33-34. Â  ALKâs Board of Directors bears the overall responsibility for ALKâs Â  sustainability strategy including impacts, risks, opportunities Â  and targets. The Audit Committee oversees sustainability disclo- Â  sures, processes, controls and assurance, and the Remuneration Â  Committee oversees sustainability-related remuneration. Â  The Executive Leadership Team (ELT) is responsible for Â  approval of all sustainability-related policies and strategy. The Â  ELT reports to the Board of Directors. Â  The Sustainability Committee, led by the Executive Vice Pres- Â  ident for People and Organisation, oversees legal reporting Â  requirements within sustainability and makes recommenda- Â  tions to the ELT on matters with strategic impact on the global Â  organisation. The mandate of the Sustainability Committee is Â  described in ALKâs sustainability committee charter. In 2024, the Â Sustainability Committee focused on ensuring that ALK meets Â  ESRS and EU Taxonomy reporting requirements. Meeting quar- Â  terly, the committee will in future also focus on implementing Â  further due diligence programmes in the value chain and evalu- Â  ating the effectiveness of policies, actions, metrics, and targets Â  addressing impacts, risks and opportunities (IROs). Â  The Corporate Finance Department is responsible for Â  accounting policies, internal controls, frameworks and guide- Â  lines for data processes and controls. Â  The Sustainability Department is responsible for the sustaina- Â  bility strategy implementation, ensuring compliance with legal Â  reporting requirements, and reporting to internal and external Â  stakeholders. Â  The corporate functions are responsible for day-to-day execution Â  of strategic activities as well as collection of sustainability data. Â  ALK's IROs are integral to the company strategy. Risks identified in Â  the DMA are incorporated into the ERM process. However, as DMA Â  risks are gross risks and ERM includes risk mitigation, the meth- Â  odologies cannot be fully aligned. The Risk Committee, chaired Â  by the Chief Finance Officer, informs the Board of Directors about Â ERM risks. Â  ESRS 2-GOV3 Â  Integration of sustainability-related Â  performance in incentive schemes Â  Information about the integration of sustainability-related performance in Â  incentive schemes, according to ESRS 2-GOV3 and E1-GOV3-13, is incor- Â  porated by reference to the section "Corporate governance" of Corporate Â  matters on page 30. Â  ESRS 2-GOV5 Â  Risk management and internal controls Â  over sustainability reporting Â  The Sustainability Department is responsible for preparing the Â  sustainability statement, overseeing the DMA process, and Â  advising on data collection. The Corporate Finance Department Â  collaborates closely on numeric data collection. Data is gath- Â  ered quarterly for ongoing progress tracking and verification, Â  with all information stored centrally. Â  Key challenges in creating unified sustainability disclosures Â  across various business units and locations include human Â  error and data misalignment. To minimise reporting errors, Â  internal controls and standard operating procedures for critical Â  metrics have been established based on a risk assessment, and Â  a four-eye principle is applied. The Sustainability Committee, Â  the ELT and the Audit Committee receive quarterly updates on Â  progress on the sustainability statement. All data comply with Â  the principles outlined by the ESRS. Â  ESRS 2-GOV4 Â  Statement on due diligence Â  The statement on due diligence, according to ESRS 2-GOV4-32, is incor- Â  porated by reference to the appendix "Core elements of due diligence" on Â  pages 94-95. Â  ESRS 2 Â  Stakeholder engagement Â  ESRS 2-SBM1 Â  Strategy, business model and value chain Â  Information about ALK's key elements of general strategy, significant Â  groups of products and services and significant markets and customer Â  groups, according to ESRS 2-SBM1-40(a.i, a.ii, f) is incorporated by refer- Â  ence to the section "Sales and market trends" of Financial performance on Â  page 19. Â  Description of sustainability-related goals in terms of significant groups Â  of products and services, customer categories, geographical areas and Â  relationships with stakeholders, according to ESRS 2-SBM1-40(e) is incor- Â  + porated by reference to the section "Introduction to AllergyÂ " of Business Â and strategy on page 9. Â Strategy elements that relate to or impact sustainability matters, including Â  the main challenges ahead, critical solutions and projects to be put in place, Â  according to ESRS 2-SBM1-40(g) are incorporated by reference to the Â  section "Expanding the addressable markets" of Business and strategy on Â  pages 16-17. Â Headcount of employees by geographical areas, according to ESRS Â  2-SBM1-40(a.iii) is incorporated by reference to the section "ALK at a Â  glance" of the Introduction on page 5. Â  The business model, according to ESRS 2-SBM1-42(a,b,c) is incorporated Â  by reference to the section "Business model" of the Introduction on page 6. Â  ESRS 2-SBM2 Â  Interests and views of stakeholders Â  Key stakeholders Â  How engagement is organised Â  Purpose of engagement Â  Examples of outcomes Â  Employees Â  â¢ EngagementÂ survey Â â¢ StrategicÂ alignment Â â¢ HumanÂ resources strategy Â â¢ Employee-electedÂ board membersÂ â¢ UnderstandingÂ employees' Â â¢ ImprovementÂ action plans Â â¢ WorkersâÂ councils perceptionsÂ and experiences Â â¢ TrainingÂ programmes Â â¢ EmployeeÂ development dialoguesÂ â¢ DefiningÂ training needs Â â¢ EmployeeÂ information Â â¢ EmployeeÂ meetings Â Consumers and Â  â¢ VariousÂ digital media platforms Â â¢ CreatingÂ awareness around Â â¢ ImprovedÂ awareness among Â general public Â  â¢ ConsumerÂ websites, apps, email Â allergies, symptoms, impact Â  consumers relating to allergies Â  flows, etc. Â  on quality of life and treatment Â  including symptoms, impact on Â  options, etc. Â  quality of life, treatment options, etc. Â  Healthcare Â  â¢ ScientificÂ webinars and symposia,Â â¢ AwarenessÂ of allergy, including Â â¢ IncreasedÂ adoption and usage of Â professionals Â  scientific publications, clinical Â  burden of disease and bene- Â  evidence-based disease modifying Â  trial data sharing, etc. Â  fit-risk of available allergy treat- Â  allergy treatments Â  ment strategies Â  â¢ CorrectÂ identification and diag- Â nosis of people with allergy Â  â¢ ClinicalÂ practice optimisation Â Suppliers and contractÂ â¢ ContractÂ negotiations Â â¢ ComplianceÂ with ALK's Third- Â â¢ ReliableÂ long-term partnerships Â manufacturers Â  â¢ Third-partyÂ Code of Conduct Â party Code of Conduct Â  â¢ AdherenceÂ to ALKâs business Â implementation Â  â¢ CommitmentÂ to Science-Based Â conduct standards and collabora- Â  â¢ SupplierÂ meetings and corre- Â Targets initiative Â  tive decarbonisation progression Â  spondence Â  Investors and Â  â¢ InterimÂ and annual reports, Â â¢ EnhancingÂ transparency Â â¢ StrongÂ reputation Â shareholders Â  company announcements, Â  â¢ UnderstandingÂ expectations to Â â¢ AccessÂ to capital Â websites, presentations, meet- Â  sustainability Â  â¢ FairÂ valuation Â ings and events Â  â¢ AttractingÂ responsible investors Â â¢ ESGÂ ratings Â Regulatory authoritiesÂ â¢ ContinuousÂ interaction Â â¢ ComplianceÂ with regulations, Â â¢ ComplianceÂ and market access Â safety and efficacy of medicines Â  Active engagement with stakeholders is a fundamental aspect Â  of ALKâs sustainability strategy and is integrated in the overall Â  strategy. The interaction shapes the understanding of material Â  issues and supports the initiatives outlined in the sustainability Â  roadmap. Internal engagement occurs across a broad range Â  of functions including but not limited to finance, legal, environ- Â  ment, health and safety, procurement, people and organisation, Â  R&amp;D, commercial and the ELT. Â  The interests and views of stakeholder groups inform ALK's Â  + Allergy strategyÂ and business model, including but not limited Â to: Â  â¢ ResultsÂ from regular engagement with employees through the Â workersâ councils and engagement survey, integrated into the Â  People and Organisation strategy and processes defined in Â  the Cultivate pillar. Â â¢ ALKâsÂ ongoing interaction with representatives of healthcare Â professionals, patients and regulatory authorities, informing Â  the Innovate and Focus pillars. Â  â¢ EngagementÂ with suppliers and contract manufacturers, Â informing the Optimise pillar. Â  â¢ EngagementÂ with investors and shareholders, handled Â though the Capital Markets Day, the Annual General Meeting Â  and at meetings requested by larger investors on specific Â  sustainability-related topics. Â  The stakeholder engagement during the materiality assessment process is Â  described under ESRS 2-IRO1 on pages 41-43. Â  ALKâs overall business model has not been amended in response Â  to engagement with its stakeholders; however, ALKâs strategy Â  + was updated in 2024 and the AllergyÂ strategy was launched. Â The administrative, management and supervisory bodies are Â  informed about the views and interests of affected stakeholders Â  through the sustainability strategy updates. Â  ESRS 2 Â  Materiality assessment process Â  ESRS 2-IRO1 Â  Description of the process to identify and assess Â  material impacts, risks and opportunities Â  In 2024, ALK updated its initial Double Materiality Assessment Â  (DMA) from 2023 in a shortened review process, focusing on Â  implementing regulatory changes as well as engaging with Â  stakeholders to check for significant changes to the business Â  model or value chain, or new sustainability-related information Â  gathered throughout the year. Â Implementing regulatory changes Â  Finalised European Sustainability Reporting Standards (ESRS) Â  standards and European Financial Reporting Advisory Group Â  (EFRAG) guidance published since 2023 led to adjustments Â  to the DMA baseline. The main adjustments to the DMA 2023 Â  include: Â  â¢ AÂ revision of initially identified positive impacts: positive Â impacts have only been deemed justified if they are business- Â  model-related or if ALK performed well beyond standards. Â  â¢ AnÂ update of the DMA workbook to ensure ESRS-aligned Â scoring, based on the finalised sustainability matter list of the Â  ESRS in inherent (gross) format. Â  â¢ AÂ greater focus on capturing value-chain-related impacts, Â risks and opportunities. Â  Identifying sustainability matters Â  The initial phase focused on evaluating ALK's activities and Â  business relationships, value chain and affected stakeholders, Â  in order to identify relevant sustainability matters, as outlined Â  in ESRS 1-AR16. ALK has used internal documents and repre- Â  sentative internal resources as sources to identify sustaina- Â  bility matters. As far as possible, datapoints were triangulated Â  across sources. Â  Parts of ALKâs value chain were covered more extensively due Â  to their large potential impact and the nature of ALKâs business. Â  External sources have been used to provide input on Environ- Â  ment, Social and Governance (ESG) issues with a heightened Â  risk of adverse impacts. Furthermore, Sustainability Accounting Â  Standards Board (SASB) publications for the biotech and Â  pharmaceuticals sector were reviewed to ensure an industry- Â  specific viewpoint focussing especially on the potential adverse Â  impacts on the end-users. Â  Stakeholder engagement Â  For the DMA review, ALK engaged with internal subject-matter Â  experts. These representatives covered the views and inter- Â  ests of affected stakeholders, including suppliers, end-users, Â  employees and nature, ensuring that the scope encompassed Â  the entire organisation. The unique nature of pharmaceuticals Â  and the extensive regulation of the sector made their integration Â  significant for ALK. Â  ALK conducted a human rights risk assessment as part of its Â  DMA, identifying impacts from a human rights perspective Â  (including labour rights). Insights were drawn from the engage- Â  ment survey and consultations with relevant stakeholders. Rele- Â  vant impacts were translated into corresponding risks or oppor- Â  tunities and mapped to ALKâs strategic functional roadmaps. Â  Climate-related impacts, Â  risks and opportunities Â  Climate-related impacts, risks and opportuni- Â  ties (IROs) were considered as part of the DMA Â  process related to the sustainability topics of Â  climate change mitigation and climate change Â  adaptation. However, ALK has not yet under- Â  taken a climate-related scenario analysis to Â  inform the identification and assessment of Â  physical risks and transition risks and oppor- Â  tunities over the short, medium or long term. Â  As a result, ALK has not yet included a climate- Â  related scenario analysis in the resilience Â  analysis of its strategy and business model. Â  The scope, methodology and assumptions for green- Â  house gas emissions are described in detail in the Â  accounting policies on pages 71-72. Â  Pollution-related impacts, Â  risks and opportunities Â  As part of the DMA process, stakeholder Â  representatives were consulted to identify Â  and assess pollution-related impacts. Site- Â  specific data was collected as a part of the Â  assessment. All production sites purchase Â  substances of concern, therefore they are all Â  deemed material for the pollution-related Â  impacts (Â see accounting policies for list of Â the sites on page 71). Â Water and marine resources-related Â  impacts, risks and opportunities Â  The World Wildlife Fund (WWF) Water Risk Â  Filter was used to identify material impacts Â  related to water and marine resources at Â  ALK's production sites. Potential negative Â  impacts linked to water-scarce regions Â  were also identified and assessed using Â  the Aqueduct Water Risk Atlas tool from the Â  World Resources Institute (WRI). Internal Â  stakeholder representatives identified and Â  assessed impacts, in ALK's own operations Â  and value chain. ALK has not conducted Â  consultations directly with affected commu- Â  nities. Â  Biodiversity and ecosystem-related Â  impacts, risks and opportunities Â  As part of the DMA, a review was conducted Â  to determine which sites should be included Â  in the evaluation of potential and actual Â  biodiversity and ecosystem IROs. This review Â  focused on filtering sites involved in farming Â  processes, as they were deemed to have the Â  most significant potential impact on biodi- Â  versity. The review concluded that, after Â  applying this filter, only one site â Post Falls Â (USA) â met the criteria. This site met the Â  materiality threshold and was thus deemed Â  material in relation to biodiversity impacts. Â  To identify ALK's actual and potential Â  impacts on biodiversity and ecosystems, Â  ALK has conducted an assessment using the Â  WWF Biodiversity Risk Filter. The analysis Â followed the WWF technical guide. No transi- Â  tion or physical risks, including systemic risks Â  and opportunities were identified using the Â  WWF Biodiversity Risk Filter. Â Engagement with stakeholder representa- Â  tives was also used to identify and assess Â  impacts at the Post Falls site, particularly Â  from cultivation and collection of allergenic Â  source materials. Â  ALK's only material site, Post Falls (USA), is Â  not located in or near biodiversity-sensitive Â  areas. ALK has not found it necessary to Â  implement biodiversity mitigation measures. Â  Resource use and circular Â  economy-related impacts, risks Â  and opportunities Â  As part of the DMA process, stakeholder Â  representatives were consulted to identify Â  and assess impacts related to resource use Â  and circular economy. Site-specific data was Â  collected as a part of the assessment. All Â  production sites generate waste, therefore Â  they are all deemed material for the related Â  impacts (Â see accounting policies for list of Â the sites on page 71). Â Business conduct-related impacts, Â  risks and opportunities Â  For business-conduct-related IROs, an Â  industry and geographical perspective was Â  applied. Â  Materiality scoring approach Â  The scoring methodology and criteria used in the DMA were defined in Â  accordance with the requirements in ESRS 1, applying the principle of Â  double materiality which comprises: Â  Impact materiality: Scale, scope, irremedi- Â ability, and likelihood of impacts (based on Â  whether an impact is positive/negative and Â  actual/potential). Â  The threshold for human rights-related Â  impacts was lowered based on ESRS 1-45 Â  requirements. Â  Financial materiality: Financial magni- Â tude of risk/opportunity, likelihood, and the Â nature of the financial effect. Â  The threshold applied for the financial effect Â  scale is consistent with the materiality Â  threshold in ALK's Enterprise Risk Manage- Â  ment (ERM) framework. Â  Internal stakeholders who identified the risks Â  and opportunities assessed their magnitude Â  and likelihood to the best of their knowledge. Â  All IROs were assessed and scored at a gross Â  level. A sustainability matter was deemed Â  material if at least one IRO was above the Â  threshold, indicating either impact materi- Â  ality or financial materiality, or both. Non- Â  material sustainability matters were those Â  where no IRO was identified and/or all IROs Â were found to fall below these thresholds. Â  The IROs and their scoring were evaluated Â  and finalised at a workshop with the stake- Â  holder representatives. Â  In the initial 2023 DMA, some topics were Â  easily deemed material, based on ALKâs Â  industry and business model. ALK focused Â  its efforts on assessing the materiality of Â  matters with greater scoring uncertainty. Â  Special attention was given to sustainability Â  matters with no identified IRO to ensure that Â  no significant IROs were overlooked and Â  the assessment accurately reflected ALKâs Â  business. Â  The 2024 DMA result was presented and Â  approved by the ELT, the Audit Committee Â  and the Board of Directors. Â  Decision-making and internal controls Â  In the DMA, there were three key decision points: Â  Key decision point Â  Decision making Â  Internal control procedures Â  Identification of Â  The identification was Â  â¢ CheckÂ that all sustainability matters were covered by internal stakeholders. Â internal stakeholders Â  carried out by ALKâs Â  â¢ CheckÂ that all sustainability matters had identified IROs throughout the stakeholder Â sustainability director Â  engagement process. If none were identified, a sanity check with key stakeholders Â  was performed, to see that this was sensible in light of the nature of the business. Â  Appropriateness of Â  ALKâs sustainability Â  â¢ FinancialÂ materiality threshold was set based on ERM thresholds. Â thresholds Â  director and senior Â  â¢ ImpactÂ materiality threshold was set based on key human rights-related considera- Â management Â  tions and following the ESRS methodology. Â  â¢ ThresholdsÂ were revisited in 2024 at a workshop held by senior management to Â reflect on the fit of the complete DMA result to key stakeholder considerations. Â  Scoring of IROs Â  Scoring of IROs was Â  â¢ ScoringÂ included a description of rationality for each IRO. Â conducted by internal Â  â¢ ScoringÂ was based on ESRS guidelines with a consistent method. Â stakeholders Â  â¢ ERMÂ information was utilised where relevant. Â The process to identify, assess and manage sustainability Â  impacts and risk including the use of tools is separated from the Â  overall risk management process. Some members of the Risk Â  Committee are also members of the Sustainability Committee to Â  ensure that sustainability risks are also reflected in the ERM risk Â  overview where relevant. Â  Future steps: integration, monitoring, and review Â  The process was guided by ALK's sustainability-related due Â  diligence, including internal policy reviews, the whistleblower Â  channel, and ERM. The DMA assesses risks and opportunities in Â  relation to sustainability matters from a sustainability perspec- Â  tive and assesses the gross risk from these. ALKâs ERM process Â  is separated from the DMA process and includes risk mitigation Â  in the scoring.Â ALK will review the DMA on an annual basis, Â considering trends, business context, key supplier changes, and Â  regulations. This shortened review will be conducted annually Â  unless significant changes in the business model, value chain, or Â  methodology are detected. Â  Output from the materiality assessment Â  The results of ALKâs 2024 DMA can be seen below. There were Â  no changes in materiality at the topical level compared to the Â  previous reporting year; however, some sub-topics were moved Â  from double material to financial or impact materiality, while Â  others became non-material after the 2024 DMA review. Â  In total, 178 IROs were identified and evaluated during the DMA. Â  Of those, 97 impacts were identified, of which 30 were deemed Â  material. 81 risks and opportunities were identified, of which Â  8 were deemed material. The IROs were consolidated and Â  mapped to 22 material sustainability matters. Once completed, Â  validated and approved, all material disclosure requirements Â  and datapoints were further assessed to determine the final Â  scope of reporting disclosures. Â  ESRS 2 Â  Material impacts, risks Â  and opportunities Â  ESRS 2-SBM3 Â  Material impacts, risks and opportunities and Â  their interaction with strategy and business model Â  The material IROs identified during the DMA are described Â  and presented below and alongside the topical standards: Â  Material impacts, risks Â  Location in Â  Time Â  the value chain Â  horizon Â  and opportunities Â  IRO Â  E1 â Climate change Â  Emissions from own operations Â  ALK generates greenhouse gas (GHG) emissionsÂ Actual Â â â â â through its direct operations (scope 1) and Â  negative Â  purchased energy (scope 2). These emissions Â  impact Â  contribute to climate change. Â  Use of refrigerants contributing to Â  climate change Â  ALK uses refrigerants to cool raw materials, Â  Actual Â  â â â â pharmaceuticals and production areas. If Â  negative Â  released, these refrigerants are GHGs that Â  impact Â  contribute to climate change. Â  Value chain emissions Â  ALK's value chain generates GHG emissions Â  Actual Â  â â â â â from purchased goods and services, capital Â  negative Â  goods, upstream and downstream transporta- Â  impact Â  tion &amp; distribution, and business travel. These Â  emissions contribute to climate change. Â  Climate change and respiratory health1 Â Climate change threatens respiratory health by Â  Oppor- Â  â â extending pollen seasons, increasing airborne Â  tunity Â  allergens and promoting mould growth. This Â  represents a market opportunity for ALK. Â  Location in Â  Time Â  the value chain Â  horizon Â  IRO Â  E2 â Pollution Â  Usage of REACH substances in production Â  ALK uses chemicals regulated by the Registra- Â  Actual Â  â â â â tion, Evaluation, Authorisation, and Restriction Â  negative Â  of Chemicals (REACH) Regulation, including Â  impact Â  Substances of Concern with potential environ- Â  mental and health impacts. Â  E3 â Water and marine resources Â  Water consumption in production facilities Â  The consumption of water in production facilitiesÂ Actual Â â â â â can contribute to local water scarcity, impactingÂ negative Â availability and increasing water costs for Â  impact Â  surrounding communities. Reduced water avail- Â  ability may also impact local ecosystems and Â  agriculture, and increase wildfire risks. Â  Usage of water in operations in water- Â  scarce regions Â  ALKâs Madrid (Spain) production site operates Â  Potential Â  â â â â in a high-water stress area. Climate change Â  negative Â  and periodic droughts could further constrain Â  impact Â  water resources, potentially affecting the local Â  population. Â  1 "Climate change and respiratory health" has been identified as an opportunity in both E1 Climate change and S4 Consumers and end-users. Â  Material impacts, risks Â  Location in Â  Time Â  the value chain Â  horizon Â  and opportunities Â  IRO Â  E4 â Biodiversity and ecosystems Â  Hornets and wasps eliminated for venom Â  harvesting Â  Wasp and hornet nests are removed to collect Â  Actual Â  â â â â venom for the active pharmaceutical ingredientsÂ negative Â in ALKâsÂ medicinal products. Wasps and hornetsÂ impact Â are eliminated during the harvesting process. Â  E5 â Resource use and circular economy Â  Use of non-recycled paper, single-use Â  aluminium and single-use plastic Â  The use of single-use plastic, aluminium bottles Â  Actual Â  â â â â and non-recycled paper in production have Â  negative Â  environmental impacts during manufacturing Â  impact Â  and disposal. Â  Pharmaceutical standards on products leaving minimal Â  leeway for circularity in product design Â  The pharmaceutical industry is highly regu- Â  Actual Â  â â â â lated, requiring high standards for quality and Â  negative Â  sterility, which results in plastic waste and Â  impact Â  limited possibilities for circularity. Â  Location in Â  Time Â  the value chain Â  horizon Â  IRO Â  Operational waste partly disposed in land- Â  fills Â  Some of ALKâs operational waste goes to land- Â  Actual Â  â â â fills. The impact varies depending on local Â  negative Â  waste management infrastructure and regional Â  impact Â  regulations. Limited recycling facilities in some Â  areas hinder material recovery. Â  End of life of products Â  In some countries, limited recycling infrastruc- Â  Actual Â  â â â â ture for end-of-life of medical products hinders Â  negative Â  the recovery of reusable materials and recy- Â  impact Â  clable packaging. Â  Material impacts, risks Â  Location in Â  Time Â  the value chain Â  horizon Â  and opportunities Â  IRO Â  S1 â Own workforce Â  Decline in employee competencies due to Â  inadequate skill upgrading Â  The skills of ALK employees decline over time as Â  Potential Â  â â â â business develops and new competences are Â  negative Â  required. Individual development plans linked toÂ impact Â job content and performance goals are required Â  to promote continuous learning and skill- Â  building, enhancing the ability for employees to Â  meet job expectations and maintaining employ- Â  ability. Â  Employee retention, attraction and Â  development challenges Â  ALK relies on the retention and attraction of Â  Risk Â  â â skilled employees to stay competitive and Â  achieve its business strategy. The health- Â  care industry in general faces persistent high Â  demand for skilled labour in key locations. Â  Injuries due to workplace accidents in Â  farming and production Â  Employees working in farming and production Â  Actual Â  â â are at increased risk of workplace accidents. Â  negative Â  Workplace accidents can cause physical harm, Â  impact Â  affect mental well-being, and impact employee Â  morale and productivity. Â  Location in Â  Time Â  the value chain Â  horizon Â  IRO Â  S2 â Workers in the value chain Â  Health- and safety-related incidents Â  involving workers in the value chain Â  Workers across the value chain can encounter Â  Potential Â  â â â â â health and safety incidents, especially workers Â  negative Â  exposed to hazardous substances, transporta- Â  impact Â  tion workers, and workers handling hazardous Â  waste. Â  Material impacts, risks Â  Location in Â  the value chain Â  horizon Â  and opportunities Â  IRO Â  S4 â Consumers and end-users Â  Allergy treatment Â  ALKâs allergy treatments significantly improve Â  Actual Â  â â â â patients' quality of life and personal well- Â  positive Â  being by addressing a wide range of allergies, Â  impact Â  including potentially life-threatening conditions Â  like anaphylaxis and insect venom reactions. Â  Barriers to access Â  Allergy treatment must be prescribed by a Â  Actual Â  â â â â healthcare professional, and is often not prior- Â  negative Â  itized by healthcare systems, creating barriers Â  impact Â  for patients. Treatments are typically affordable Â  through public or private insurance, but high Â  costs can limit access for uninsured or low-in- Â  come individuals. Â  Patient safety Â  Allergy treatments are effective in most cases Â  Actual Â  â â â â but not all. If treatment is ineffective, limited Â  negative Â  alternatives leave individuals without potential Â  impact Â  benefits, directly impacting their well-being and Â  safety. Â  Climate change and respiratory health1 Â Climate change threatens respiratory health by Â  Oppor- Â  â â extending pollen seasons, increasing airborne Â  tunity Â  allergens, and promoting mould growth. This Â  represents a market opportunity for ALK. Â  Location in Â  Time Â  the value chain Â  horizon Â  IRO Â  G1 â Business Conduct Â  Animal welfare Â  ALK conducts animal testing to ensure its medi- Â  Actual Â  â â â â cines are safe and effective, using animals only Â  negative Â  when alternative models are insufficient. RegularÂ impact Â experiments involve allergen injections on mice Â  in internal R&amp;D facilities. The negative impacts Â  include injections, captivity and euthanasia. Â  Potential bribery of healthcare Â  professionals Â  The pharmaceutical industry, including ALK, Â  Risk Â  â â faces bribery and corruption risks, especially Â  in interactions with healthcare professionals. Â  The main risk is potential bribery to boost sales Â  which could lead to significant legal, reputa- Â  tional, and financial repercussions. Â  ESRS 2-IRO2 Â  Disclosure Requirements in ESRS covered by the undertakingâs sustainability statement Â  Thresholds used for the DMA process are described inÂ ESRS 2-IRO1 on page 42. Â The content index of ESRS disclosure requirements and the list of datapoints that derive from other EU legislation, Â  according to ESRS 2-IRO2-56, are incorporated by reference to the appendices "Content index of ESRS disclosure Â  requirements", on pages 96-98, and "List of datapoints that derive from other EU legislation", on pages 99-105. Â E1 Climate change Â  Strategy Â  E1-1 Â  Transition plan for climate change mitigation Â  In January 2024, the Science Based Targets initiative (SBTi) Â  validated and approved ALK's absolute CO2 reduction targets. Â The targets align with the latest climate science to achieve the Â  Paris Agreement goals, limiting global warming to 1.5Â°C. While Â  changes to ALK's business model will not be necessary, specific Â  actions will be implemented following different decarbonisation Â  levers. Â  Decarbonisation levers Â  ALK's transition plan is focused on reducing carbon emissions Â  from its own operations. This is achieved through the following Â  levers: Â  â¢ TransitioningÂ towards renewable energy, Â â¢ ElectrifyingÂ boilers and the company vehicle fleet, Â â¢ SubstitutingÂ refrigerant chemicals in coolers, Â â¢ ImplementingÂ energy efficiency measures. Â Further details on decarbonisation levers and climate change mitigation Â  actions undertaken in 2024 are provided in E1-3 on page 51. Â  ALK recognises the presence of certain locked-in emissions and Â  has considered them during target setting and reduction action Â  planning. These emissions do not jeopardise the attainment of Â  the greenhouse gas (GHG) emission reduction targets. Â  Embedded in strategy Â  The transition plan is embedded in ALK's strategy and funded Â  through the annual business and financial planning process. It Â  has been approved by ALKâs Investment Portfolio and Sustain- Â  ability committees. The transition plan requires investments, Â  which are aligned with ALK's financial planning. In particular, Â the electrification of boilers demands CapEx investments, and is Â  reported as a taxonomy-eligible activity. Â  ALK has not claimed alignment of its economic activities with Â  delegated regulations on climate adaptation or mitigation under Â  the Taxonomy Regulation (Â see "EU taxonomy" on page 67). Â However, efforts will be made to align activities where possible. Â  ALK is not excluded from EU Paris-Aligned Benchmarks. Â  ALK's commitment to reducing its GHG emissions is strength- Â  ened by sustainability-related incentives in the remuneration Â  schemes for the Executive Leadership Team. This incentivising Â  of executives results in a more urgent drive for decarbonisa- Â  tion-related processes. Â  ALK's short-term and long-term incentive schemes are presented in Â  detail in the "Corporate governance" section of Corporate matters Â  on page 30. Â  ESRS E1 Â  Location in Â  Time Â  the value chain Â  horizon Â  Impacts, risks and Â  opportunities Â  E1 Climate change Â  IRO Â  Emissions from own operations Â  Actual negative impact Â  â â â â Use of refrigerants contributing to climate change Â  Actual negative impact Â  â â â â Value chain emissions Â  Actual negative impact Â  â â â â â Climate change and respiratory health Â  Opportunity Â  â â E1-SBM3 Â  Material impacts, risks and opportunities and their Â  interaction with strategy and business model Â  ALK has not undertaken a climate-related scenario analysis or Â  a resilience analysis. The materiality assessment described in Â  ESRS 2-IRO1 on pages 41-43 identified the following climate Â change impacts. No material climate-related physical risks or Â  climate-related transition risks were identified during the mate- Â  riality assessment. Â  Impact Â  Emissions from own operations Â  ALK impacts the environment through the emission of GHG. Â  These emissions result from ALK's direct operations (Scope 1) Â  and purchased energy (Scope 2). In particular, ALKâs energy Â  consumption is partially based on non-renewable sources, Â  including natural gas. Â  This negative impact is located within ALK's own operations Â  and occurs over the short, medium and long term. ALK has Â  committed to a science-based target to reduce its GHG emis- Â  sions by 42% by 2030. As part of its GHG emission reduction Â  plan, ALK is taking steps to transition to renewable energy and Â  to improve energy use. Â  Impact Â  Use of refrigerants contributing to climate change Â  ALK uses refrigerants as cooling agents in the storage of raw Â  materials and pharmaceuticals and for cooling production Â  areas. While these refrigerants are not ozone-depleting, they Â  are classified as greenhouse gases (GHGs) and contribute to Â  climate change if released into the atmosphere. Their role in Â  supporting operational processes highlights their importance Â  while also presenting potential environmental risks. This repre- Â  sents an actual negative impact that occurs in ALK's own opera- Â  tions over the short, medium and long term, as a result of its own Â  activities. Â  Impact Â  Value chain emissions Â  ALK's value chain represents 93% of GHG emissions, mostly Â  due to the manufacture and provision of purchased goods and Â  services. These emissions stemming from ALK's direct business Â  relationships contribute to climate change. This negative impact Â  is located within ALK's upstream and downstream value chain in Â  the short, medium and long term. ALK has set a science-based Â  target to ensure that suppliers representing 80% of its scope 3 Â  emissions have science-based targets in place by 2028. Â  Opportunity Â  Climate change and respiratory health Â  Climate change directly threatens respiratory health by Â  extending pollen seasons, increasing airborne allergens, Â  promoting mould growth, and altering the distribution and Â  abundance of allergenic plants. The increased length and Â  severity of pollen seasons expand the potential market size for Â  ALK, as more individuals suffer from prolonged and intensified Â  allergy symptoms. Â  This long-term potential opportunity for ALK is described further in Â  S4-SBM3 on page 84. Â  ESRS E1 Â  Impact, risk and Â  opportunity management Â  E1-2 Â  Policies related to climate change Â  mitigation and adaptation Â  ALK is in the process of addressing the most Â  significant categories of GHG emissions, Â  including all of its scope 1 categories, as Â  well as purchased goods and services and Â  business travel in scope 3. As an example, Â  this translates into local policy updates on Â  company fleet and business travel. Â  As a result, ALK has not had the need for estab- Â  lishing a formal global policy related to climate Â  change mitigation and adaptation, energy Â  efficiency or renewable energy deployment. Â  E1-3 Â  Actions and resources in relation Â  to climate change policies Â  ALK has developed a roadmap out to 2030 to Â  reduce its carbon emissions. While this plan Â  is not linear, it has been developed through Â  a mapping exercise and, overtime, takes Â  account of the projected business growth of Â  the company. ALK has prioritised investments Â  in reducing the environmental impact of its Â  own operations (Scope 1 and 2). Â  The achieved GHG emission reductions are described Â  in E1-6 on pages 53-54. Â  ALK is addressing its climate change impacts and climate-related opportunity through the following Â  decarbonisation levers and actions: Â  Transitioning towards Â  renewable energy Â  ALK has been purchasing Â  third-party audited Renew- Â  able Energy Certificates for Â  electricity since 2019. These Â certificates cover 100% of Â  ALKâs electricity consumption Â  at production sites where Â  direct renewable energy Â  sourcing is not possible. Â  Operating expenditure (OpEx) Â  is allocated on an ongoing Â  basis to purchase the certifi- Â  cates. In 2024, this amounted Â  to DKK 0.5 million (Â see Â Income statement, on page Â  107 in the consolidated finan- Â  cial statements). Â Electrifying boilers and Â  the company vehicle fleet Â  ALK is also reducing CO2 emissions by Â converting production boilers from natural Â  gas to electricity. The replacement of a boiler Â  in HÃ¸rsholm (Denmark) site was imple- Â  mented in 2022. In 2024, ALK also initiated Â  the replacement of a gas boiler in France, Â  with daily operations expected to commence Â  by 2026. The last boiler replacement will be Â  initiated by 2028, with full implementation Â  planned for 2030. Â  In 2024, ALK also continued the transition of Â  the company fleet to electric vehicles, with Â  an initial focus on the countries in Northern Â  Europe where the infrastructure is well devel- Â  oped. Â  The electrification of boilers requires CapEx Â  investments, which are accounted for in ALK's Â  annual budget processes and have been Â  approved by administrative, management, Â  and supervisory bodies. In 2024, ALK allo- Â  cated DKK 4 million in CapEx to support the Â  implementation of the decarbonisation project Â  for the boilers in France (Â see note 3.2 in the Â consolidated financial statements, on page Â  123). The ability to implement the action does Â not depend on specific preconditions. Â  Substituting refrigerant Â  chemicals in coolers Â  Starting in 2023, ALK has Â  mapped all cooling systems Â  and refrigerants, creating Â  a timeline for substitution Â  based on legal requirements, Â  equipment lifecycle, and cost Â  considerations. Any refrig- Â  erant replacement will priori- Â  tise options with a lower global Â  warming potential. Â  To minimise the environ- Â  mental risks associated with Â  refrigerant use, ALK has Â  initiated a cross departmental Â  programme to better manage Â  cooling systems and refrig- Â  erants. ALK is focusing on Â  initiatives to improve moni- Â  toring, reporting, preventive Â  maintenance and substitution, Â  while maintaining operational Â  efficiency. Â  Implementing energy Â  efficiency measures Â  In 2023, ALK initiated energy- Â  saving measures, including Â  installing LED lighting and Â  sensor-controlled lighting Â  systems, to reduce overall Â  energy consumption. While Â  the identification of further Â  potential initiatives continues, Â  the immediate large-scale Â  activities have already been Â  implemented. Â  ESRS E1 Â  Metrics and targets Â  E1-4 Â  Targets related to climate change Â  mitigation and adaptation Â  ALK has set two targets related to climate Â  change mitigation: Â  â¢ reduceÂ its absolute CO2 emissions by 42% Â between 2022 and 2030 in its own operations Â  (market-based Scope 1 and Scope 2) Â  â¢ haveÂ 80% of its emissions from suppliers Â with science-based targets by 2028 (Scope Â  3). Â  Those targets were approved by the Science Â  Based Targets initiative in January 2024, and Â  are compatible with limiting global warming Â  to 1.5Â°C. Â  In 2022, ALK's scope 1 and 2 (market-based) Â  accounted for 5,492 tCO2e, with scope 1 repre- Â senting 90%. The boundaries of this target Â  exclude ALK's sales offices, which account for Â  less than 5% of its total emissions. The rest of Â  the assumptions and methodologies align with Â  the GHG emissions reporting disclosed under Â  E1-6 on page 54. Â The different decarbonisation levers are presented Â  under E1-3 on page 51. Â  E1-6 Â  Gross Scopes 1, 2, 3 and Total GHG emissions Â  Science-based targets Â  Unit Â  2024 Â  20231 Â 20221 Â Scope 1+2 (production sites) Â  Total scope 1+2 (location-based) Â  Tonnes CO2eq Â 11,348 Â  11,266 Â  10,814 Â  Total scope 1+2 (market-based) Â  Tonnes CO2eq Â 5,384 Â  5,709 Â  5,492 Â  Change in scope 1 &amp; 2 from a 2022 baseline Â  % -2% Â  +4% Â  - Scope 3 Â  Scope 3 emissions from suppliers with Â  science-based targets Â  % 37 Â  33 Â  N/A Â  1 The comparative figures for 2022 and 2023 have been updated to reflect the acquisition of ALK's production site in Plainville Â  (USA) as well as collecting vehicles in Post Falls (USA). 2022 and 2023 figures are not covered by the Independent Auditorâs Â  limited assurance report. Â  Emissions from scope 1 and 2 were 2% lower Â  than the science-based target baseline (2022: Â  5,492 tonnes CO2eq). Â This reflects a slight decreaseÂ in direct energy Â consumption, mainly related to the reduc- Â  tion of natural gas consumption, due to the Â  replacement of a gas boiler to run on elec- Â  tricity at HÃ¸rsholm (Denmark) production site. Â  Refrigerants were reduced due to an Â  increased focus on systematic and preventive Â  maintenance as well as closing of equipment Â  where leaks have been identified. Â  Emissions from company fleet were reduced Â  compared to 2023. This reflects ALKâs tran- Â  sition towards electric vehicles, which will be Â  fully implemented in the coming years. Â  Scope 2 market-based reflects the purchase Â  of renewable energy certificates for all sites. Â  ALKâs ambition to reduce GHG emissions by Â  42% by 2030 remains unchanged. Â  Over the coming years, investments in boilers Â  which run on electricity rather than natural Â  gas will make a major contribution to the CO2 Â reduction. Â  The share of suppliers with science-based Â  targets increased to 37% (2023: 33) reflecting Â  ALKâs continued efforts in engaging with its Â  suppliers to implement CO2 emission targets Â compatible with limiting global warming to Â  1.5Â°C. Â  Scopes Â  Unit Â  2024 Â  20231 Â 20221 Â Scope 1 Â  Direct energy consumption Â  Tonnes CO2eq Â 3,325 Â  3,207 Â  3,368 Â  Company fleet Â  Tonnes CO2eq Â 1,383 Â  1,454 Â  1,355 Â  Refrigerants Â  Tonnes CO2eq Â 217 Â  501 Â  235 Â  Total scope 1 Â  Tonnes CO2eq Â 4,925 Â  5,162 Â  4,958 Â  Scope 2 Â  Location-based Â  Production sites Â  Tonnes CO2eq Â 6,423 Â  6,10 4 Â  5,856 Â  Sales offices Â  Tonnes CO2eq Â 297 Â  N/A Â  N/A Â  Total scope 2 - location-based Â  Tonnes CO2eq Â 6,720 Â  6,104 Â  5,856 Â  Market-based Â  Production sites Â  Tonnes CO2eq Â 459 Â  547 Â  534 Â  Sales offices Â  Tonnes CO2eq Â 297 Â  N/A Â  N/A Â  Total scope 2 - market-based Â  Tonnes CO2eq Â 756 Â  547 Â  534 Â  Scope 3 Â  Cat. 1. Purchased goods &amp; services Â  Tonnes CO2eq Â 53,825 Â  41,175 Â  49,096 Â Cat. 2. Capital goods Â  Tonnes CO2eq Â 3,307 Â  3,403 Â  3,974 Â  Cat. 3. Fuel &amp; energy related activities Â  Tonnes CO2eq Â 2,985 Â  2,364 Â  2,483 Â  Cat. 4. Upstream transportation &amp; distributionÂ Tonnes CO2eq Â 5,614 Â  5,471 Â  4,748 Â  Cat. 5. Waste generated in operations Â  Tonnes CO2eq Â 89 Â  773 Â  105 Â  Cat. 6. Business travel Â  Tonnes CO2eq Â 2,626 Â  4,615 Â  3,995 Â  Cat. 7. Employee commuting Â Tonnes CO2eq Â 5,696 Â  6,153 Â  5,724 Â  Cat. 9. Downstream transportation &amp; Â  distribution Â  Tonnes CO2eq Â 336 Â  74 Â  313 Â  Cat. 12. End of life treatment of sold productsÂ Tonnes CO2eq Â 28 Â  39 Â  37 Â  Total scope 3Â Tonnes CO2eq Â 74,506 Â  64,067 Â  70,475 Â  Scopes Â  Unit Â  2024 Â  20231 Â 20221 Â Total emissions (location-based) Â  Tonnes CO2eq Â 86,151 Â  75,333 Â  81,289 Â  Total emissions (market-based) Â  Tonnes CO2eq Â 80,187 Â  69,776 Â  75,967 Â  GHG intensity Â  Tonnes CO2eq/ Â (scope 1 and 2 market-based) Â  DKKm Â  1.0 Â  1.2 Â  1.2 Â  GHG intensity Â  Tonnes CO2eq/ Â (total emissions, location-based) Â  DKKm Â  15.6 Â  15.6 Â  18.0 Â  GHG intensity Â  Tonnes CO2eq/ Â (total emissions, market-based) Â  DKKm Â  14.5 Â  14.5 Â  16.8 Â  Net revenue Â  DKKm Â  5,537 Â  4,824 Â  4,511 Â  Bundled energy attribute claims Â  % - N/A Â  N/A Â  Unbundled energy attribute claims Â  % 88% Â  N/A Â  N/A Â  GHG scope 3 calculated using primary data Â  % 15% Â  N/A Â  N/A Â  1 The comparative figures for 2022 and 2023 have been updated to reflect the acquisition of ALK's production site in Plainville Â  (USA) as well as collecting vehicles in Post Falls (USA). 2022 and 2023 figures are not covered by the Independent Auditorâs Â  limited assurance report. Â  The increase in total scope 3 to 74,506 tonnes (2023: 64,067) is primarily related to the increase of Â  purchased goodsÂ and services as a result of the increased turnover. Business travel decreased to 2,626 Â tonnes (2023:4,615) reflecting the focus on reduced travelling across all functions implemented end of Â  2023. Â  E1-5 Â  Energy consumption and mix Â  Unit Â  2024 Â  20231 Â Energy consumption from fossil sources Â  Fuel consumption from coal and coal products Â  MWh Â  - - Fuel consumption from crude oil and petroleum products Â  MWh Â  2,420 Â  2,717 Â  Fuel consumption from natural gas Â  MWh Â  14,524 Â  14,232 Â  Fuel consumption from other fuel sources Â  MWh Â  - N/A Â  Consumption of purchased or acquired electricity, heat, Â  steam, or cooling from fossil sources Â  MWh Â  10,148 Â  5,241 Â  MWh Â  27,092 Â  22,190 Â  Energy consumption from nuclear sources Â  Energy consumption from nuclear sources Â  MWh Â  4,505 Â  4,658 Â  MWh Â  4,505 Â  4,658 Â  Energy consumption from renewable sources Â  Fuel consumption for renewable sources Â  MWh Â  - - Consumption of purchased or acquired electricity, heat, Â  steam and cooling from renewable sources Â  MWh Â  19,810 Â  23,702 Â  MWh Â  19,810 Â  23,702 Â  Total energy consumption Â  MWh Â  51,407 Â  50,550 Â  Share of renewable sources in total energy consumption Â  % 39% Â  47% Â  Energy intensity associated with activities in Â  high climate impact sectors Â  MWh/DKKm Â  9.3 Â 10.5 Â  1 The comparative figures for 2023 have been updated to reflect the acquisition of ALK's production site in Plainville (USA) as well Â  as collecting vehicles in Post Falls (USA). 2023 figures are not covered by the Independent Auditorâs limited assurance report. Â  The share of renewable sources in total energy Â  consumption decreased due to more accurate Â  documentation from energy providers. Â  Since ALK's activities belong to a high climate Â  impact sector, energy intensity is calculated Â on the total revenue. The decrease in intensity Â  reflects the more efficient use of energy at the Â  E2 Pollution Â  ESRS E2 Â  Impacts, risks and Â  opportunities Â  E2 Pollution Â  IRO Â  Usage of REACH substances in production Â  Actual negative impact Â  ESRS 2-SBM3 Â  Material impacts, risks and opportunities and their Â  interaction with strategy and business model Â  Impact Â  Usage of REACH substances in production Â  ALK uses chemicals that fall within the scope of the Registration, Â  Evaluation, Authorisation, and Restriction of Chemicals (REACH) Â  Regulation. Substances of Concern (SoCs) are regulated on Â  the basis of their potential environmental and health impacts. Â  Some of these chemicals may also appear on restricted or Â  phased-out lists, such as the Candidate List of Substances of Â  Very High Concern (SVHCs), requiring careful management to Â  ensure compliance with legal requirements. ALK recognises Â  that the continued usage of such chemicals contributes to their Â  commercialisation, which can result in broader environmental Â  consequences if not properly controlled. Â  The use of REACH substances has a negative actual impact Â  on the environment, which arises in ALK's own operations on Â  the short, medium and long term. The production processes Â  soil. Â  Location in Â  Time Â  the value chain Â  horizon Â  â â â â requiring REACH-regulated chemicals reflect the ongoing chal- Â  lenge of balancing operational needs with regulatory compli- Â  ance and environmental considerations. ALK has not yet formal- Â  ised policies or targets on Substances of Concern or Substances Â  of Very High Concern. However, the company ensures compli- Â  ance with local regulations and REACH requirements for chem- Â  ical use and handling in production. Â  Pollution of air, water, and soil is considered immaterial to Â  ALK due to the very low levels of pollutants in its operations, Â  with minimal impact on the environment or human health. The Â  impacts and risks are deemed immaterial as they do not meet Â  the threshold, and no risks or opportunities were identified for Â  ESRS E2 Â  Impact, risk and opportunity Â  management Â  E2-1 Â  Policies related to pollution Â  ALK ensures compliance with local regulations Â  and REACH requirements for chemical use and Â  handling in production, and relevant actions Â  and resources are evaluated and allocated Â  at the operational level as appropriate. As a Â  result, ALK has not identified the need for a Â  centralised global policy related to pollution Â  that specifically addresses actions within the Â  mitigation hierarchy related to pollution, such Â  as pollution avoidance, reduction or restora- Â  tion efforts where there has been pollution of Â  air, water and soil. Â  The use of REACH-regulated chemicals Â  highlights the shared responsibility among Â  producers and users to minimise their poten- Â  tial impact on the environment and look at Â  possible substitution. ALK acknowledges that Â  the continued use of such chemicals contrib- Â  utes to their commercialisation, which can Â  result in broader environmental consequences Â  if not carefully managed. Â  E2-2 Â  Actions and resources Â  related to pollution Â  ALK is committed to maintaining compliance Â  with the REACH regulation and local legisla- Â  tion and to responsibly manage the chemicals Â  it uses. Initiatives are directed at ensuring Â  safe handling, storage, and use of regulated Â  chemicals on all production sites, with ongoing Â  updates to data and processes as required by Â  evolving regulations. Â  As part of its ongoing initiatives, ALK has Â  worked in 2024 on mapping and estab- Â  lishing an overview of purchased quantities Â  of Substances of Concern (SoCs) and their Â  subset, Substances of Very High Concern Â  (SVHCs), in its own operations (Â see E2-5 Â on page 57). This initiative aims to improve Â visibility and understanding of the volume and Â  use of these chemicals within the organisation, Â  supporting compliance and informed analysis Â  and decision-making. Since ALK does not yet Â  have a global policy, it has not taken specific Â  actions in 2024 to achieve pollution-related Â  policy objectives. Â  ESRS E2 Â  Metrics and targets Â  E2-3 Â  Targets related to pollution Â  ALK has passed all the latest Local Envi- Â  ronmental Authoritiesâ requirements and Â  inspections at all of its sites. However, since Â  2024 is the first year of global consolidated Â  reporting of substances of concern, ALK Â  has not set global targets for preventing Â  and controlling air pollutants, emissions to Â  water, soil pollution, substances of concern Â  and substances of very high concern, Â  beyond what is determined by local regu- Â  lations. Â  Compliance with REACH-regulated chem- Â  icals standards highlights the challenge Â  of balancing operational needs with Â  environmental and regulatory require- Â  ments. As phase-outs and restrictions Â  are implemented, ALK remains flexible Â  to ensure compliance and mitigate risks. Â  The company is evaluating its approach Â  and considering future targets to align Â  with evolving sustainability priorities and Â  regulatory expectations. ALK will focus on Â  reducing substances of very high concern Â  by implementing improvements in the Â  processes at one of ALKâs material produc- Â  tion sites. Â  E2-5 Â  Substances of concern and substances of very high concern Â  Substances of concern and substances of very high concern Â  Unit Â  2024 Â  Substances of concern procured Â  Tonnes Â  5.0 Â  Substances of very high concern procured Â  Tonnes Â  0.9 Â  E3 Water and marine resources Â  ESRS E3 Â  Impacts, risks and Â  opportunities Â  E3 Water and marine resources Â  IRO Â  Water consumption in production facilities Â  Actual negative impact Â  Usage of water in operations in water-scarce regions Â  Potential negative impact Â  ESRS 2-SBM3 Â  Material impacts, risks and opportunities and their Â  interaction with strategy and business model Â  Impact Â  Water consumption in production facilities Â  ALKâs production facilities rely on the consumption of water, Â  which is an important natural resource in many areas. Â  Water usage can contribute to local water scarcity, poten- Â  tially impacting availability and increasing water costs for Â  surrounding communities. Reduced water availability may also Â  affect the ability of the soil to support vegetation, impacting Â  local ecosystems and agricultural activities. Prolonged dryness Â  may also increase the potential for wildfires in certain areas. Â  This represents an actual negative impact on people and the Â  environment, occurring in the short, medium and long term. To Â  mitigate it, ALK monitors water use in its production facilities to Â  ensure compliance with local legal regulation. Â  Impact Â  Location in Â  Time Â  the value chain Â  horizon Â  â â â â â â â â Usage of water in operations in water-scarce regions Â  ALKâs production site in Madrid (Spain) operates in an area of Â  high-water stress. In this water-scarce region, the availability Â  of water resources is increasingly constrained due to climate Â  change and periodic droughts. As a pharmaceutical company Â  ALK is prioritised in terms of water supply; however, the use of Â  water in operations in such regions has a potential negative Â  impact on the local population, who might face constraints in Â  the use of water. This potential impact occurs over the short, Â  medium and long term. ALKâs water consumption is monitored Â  to ensure compliance with applicable regulations and minimise Â  negative impacts on the local water basin. Â  ESRS E3 Â  Impact, risk and opportunity management Â  E3-1 Â  Policies related to water Â  has been on mapping ALK's impacts, risks Â  In 2024, ALK focused on mapping consumption Â  and marine resources Â  and opportunities linked to water and marine Â  from the installed meters to evaluate opportu- Â  ALK monitors water use in its production facil- Â  resources. In the coming years, the company Â  nities for efficient water use and sustainable Â  ities to ensure compliance with local waste- Â  will consider the potential adoption of such a Â  management. These efforts aim to reduce the Â  water discharge regulations and to minimise Â  policy. Â  environmental impact of water consumption Â  the impact on local water resources. Â  while supporting operational needs. As a Â  E3-2 Â  result, no actions were taken in 2024 in relation Â  ALK does not have a formal global policy on Â  Actions and resources related to Â  to general water use, and specifically to ALK's Â  water management, treatment, or pollution Â  water and marine resources Â  production site in Madrid (Spain). In addition, Â  beyond local regulations. There are currently Â  ALK aligns its practices with regulatory Â  at the time of reporting, no action plan for Â  no policies in place to guide product and Â  requirements and environmental considera- Â  2025 has been developed yet. Â  service design in addressing water-related Â  tions, seeking opportunities for efficient water Â  challenges, nor are there commitments Â  use and sustainable management. Water Â  to decrease material water consumption Â  management is an integral part of ALK's envi- Â  in regions facing water risks. Addressing Â  ronmental and health and safety management Â  the water-related challenges could involve Â  tasks. Â  adopting advanced technologies, recycling Â  wastewater, or optimising processes to mini- Â  The demand for water as a part of ALK's Â  mise water use, all in line with the local legal Â  production processes underscores the need to Â  authorities and the production of pharma Â  balance operational requirements with envi- Â  products. Â  ronmental sustainability. Â  As sustainable oceans and seas is not deemed Â  To ensure operational efficiency and minimise Â  material, no related policy has been adopted. Â  consumption, ALK has installed water meters Â  to monitor and control water usage. This is Â  ALK has not adopted a policy covering its Â  particularly important in areas with existing Â  Madrid (Spain) production site, located in an Â  water-related challenges. Â  area of high-water stress. In 2024, the focus Â  ESRS E3 Â  Metrics and targets Â  E3-3 Â  Targets related to water Â  and marine resources Â  ALK has not set global targets for reducing Â  water consumption or managing marine Â  resources and water risk areas beyond local Â  legal requirements. In 2024, ALK installed Â  meters at all production sites to monitor water Â  usage, both in production areas and for irri- Â  gation. This enables ALK to assess efficiency Â  and consumption across different processes, Â  ensuring effective future water use. Â  E3-4 Â  Water consumption Â  Water Â  Unit Â  2024 Â  20231 Â Water consumption Â  Irrigation Â  m3 Â 312,773 Â  N/A Â  Domestic water use Â  m3 Â 92,533 Â  101,413 Â  m3 Â 405,306 Â  N/A 2 Â Water storage Â  Water stored Â  m3 Â - - Changes in storage Â  m3 Â - - Water consumption in areas at material water risk Â  m3 Â 11,495 Â  10,646 Â  Water reused and recycled Â  m3 Â 18,624 Â  N/A Â  Water intensity Â  m3/DKKm Â 73.2 Â  N/A Â  1 2023 figures are not covered by the Independent Auditorâs limited assurance report. Â  2 In 2023, ALK reported a total water consumption of 128,087 m3, excluding irrigation from leased land, for which data was not Â available and could not be retrieved. Â  E4 Biodiversity and ecosystems Â  Strategy Â  E4-1 Â  Transition plan and consideration Â  of biodiversity and ecosystems in Â  strategy and business model Â  The majority of ALK's allergenic source mate- Â  rials covering pollens, mites and molds are Â  cultivated and collected. Source material from Â  insect venom is collected by electro-stimu- Â  lation (bees) and by a collection of wasp and Â  hornet nets. The allergen source materials are Â  purified before further processing to active Â  pharmaceutical ingredients (APIs) used in Â  ALK's medicinal products. Systemic sustain- Â  able agricultural practices are implemented to Â  minimise ALK's impact on nature, including: Â  â¢ DiversifyingÂ species by planting a variety of Â crop types and thereby providing a diverse Â  range of pollination times for pollinator Â  species like bees. Â  â¢ MinimisingÂ pesticide and fertiliser inputs by Â leveraging Integrated Pest Management Â  Principles. Â  â¢ ProtectiveÂ native flora and fauna by estab- Â lishing large buffer zones. Â  â¢ MinimumÂ soil disturbance by implementing Â lime application. Â  As part of the materiality assessment process, Â  a review of ALK's production sites has been Â  done, using the WWF Risk Filter to identify and Â  evaluate potential and actual biodiversity and Â  ecosystem impacts, risks and opportunities Â  ( for more details, see E4-IRO1 on page 42). Â Post Falls (USA) met the materiality threshold Â  and was thus deemed material in relation to Â  biodiversity impacts. Â  ALK has not yet conducted a comprehensive Â  resilience analysis of its strategy and business Â  model in relation to biodiversity and ecosys- Â  tems. As a result, a transition plan related to Â  biodiversity and ecosystems has not been Â  created yet. The analysis of ALKâs material Â  sites in terms of dependencies and ecolog- Â  ical status will be performed over the coming Â  years. Â  Time Â  Location in Â  ESRS E4 Â  the value chain Â  horizon Â  Impacts, risks and Â  opportunities Â  E4 Biodiversity and ecosystems Â  IRO Â  Hornets and wasps eliminated for Â  Actual negative impact Â  â â â â venom harvesting Â  ESRS 2-SBM3 Â  Material impacts, risks and Â  opportunities and their interaction Â  with strategy and business model Â  The materiality assessment process outlined Â  in ESRS 2 IRO-1, on pages 41-43, did not Â identify any material negative impacts with Â  regard to land degradation, desertification or Â  soil sealing. However, the following material Â  impact on the state of species was identified: Â  Impact Â  Hornets and wasps eliminated Â  for venom harvesting Â  ALK collaborates with local communities near Â  Post Falls (USA) production site to remove Â  wasp and hornet nests and collect venom for Â  the API in its medicinal products. The wasps Â  and hornets are eliminated as part of the Â  harvesting process. Removing wasp and Â  hornet nets is part of pest control programs in Â  areas in densely populated areas. Â  This site is not located close to a biodiversity- Â  sensitive area and thereby not negatively Â  affecting such areas. Moreover, wasps and Â hornets are not threatened species. Â  The venom harvesting process represents an Â  actual negative impact on the local popula- Â  tion size of wasps and hornets. This impact is Â  directly due to ALK's activities and occurs in Â  ALK's own operation in the short, medium and Â  long term. Â  The list and description of material sites is further Â  developed in E4-1 on page 61. Â  ESRS E4 Â  Impact, risk and Â  opportunity management Â  E4-2 Â  Policies related to biodiversity Â  and ecosystems Â  ALK adheres to national legislation and regu- Â  latory demands, as described in procedures Â  part of ALK's Quality Management System Â  covering the part of the supply chain ALK Â  controls. ALK has performed several initiatives Â  over the years to support biodiversity at its Â  material site in Post Falls (USA). As ALK has not Â  yet performed a biodiversity-related resil- Â  ience analysis, ALK does not currently have Â  a formal policy relating to biodiversity and Â  ecosystems. Â  Specifically, the company has not adopted Â  a policy addressing its material impacts or Â  dependencies, or their social consequences. Â  There are also no policies on responsible Â  production, sourcing, or consumption from Â  ecosystems, nor on the traceability of prod- Â  ucts, components, and raw materials. ALK Â  does not have a biodiversity and ecosystem Â  protection policy covering operational sites Â  owned, leased, or managed in or near a biodi- Â  versity sensitive area. ALK has no policy on Â  sustainable land and agriculture, sustainable Â  oceans and seas or deforestation. Â  E4-3 Â  Actions and resources related to Â  biodiversity and ecosystems Â  In 2024, the focus has been on mapping ALK's Â  impacts, risks and opportunities relating to Â  biodiversity and ecosystems. No new actions Â  have been taken in 2024 on this matter beyond Â  what is already implemented as part of daily Â  management. In particular, no biodiversity Â offsets have been used, and local and indige- Â  nous knowledge and nature-based solutions Â  have not been considered. Â  ESRS E4 Â  Metrics and targets Â  E4-4 Â  Targets related to biodiversity and ecosystems Â  ALK is to conduct a deeper analysis of its biodiversity impacts Â  in the coming years with inspiration from the Task Force on Â  Nature-related Disclosure framework. As this analysis is still to Â  be performed, ALK has not yet set targets related to biodiversity Â  and ecosystems. In particular, no ecological thresholds and Â allocations of impacts were applied, and no biodiversity offsets Â  have been used. The Kunming-Montreal Global Biodiversity Â  Framework, the EU Biodiversity Strategy for 2030 and other Â  biodiversity and ecosystem-related national policies and legis- Â  lation have not been used. Â  E5 Resource use and circular economy Â  ESRS E5 Â  Location in Â  Time Â  the value chain Â  horizon Â  Impacts, risks and Â  opportunities Â  E5 Resource use and circular economy Â  IRO Â  Use of non-recycled paper, single-use aluminium and Â  Actual negative impact Â  â â â â single-use plastic Â  Pharmaceutical standards on products leaving minimal leeway Â  Actual negative impact Â  â â â â for circularity in product design Â  Operational waste partly disposed in landfills Â  Actual negative impact Â  â â â End of life of products Â  Actual negative impact Â  â â â â ESRS 2-SBM3 Â  Material impacts, risks and opportunities and their Â  interaction with strategy and business model Â  Impact Â  Use of non-recycled paper, single-use Â  aluminium and single-use plastic Â  ALK's operations require the use of single-use plastics in Â  production, as well as single-use aluminium bottles for trans- Â  porting active pharmaceutical ingredients. ALK also uses Â  non-recycled paper and plastics, which are vital for maintaining Â  sterility and efficiency in operations. Â  Those materials have negative environmental impacts during Â  manufacturing and/or end of life. In particular, manufacturing of Â single-use plastics consumes fossil fuels and emits greenhouse Â  gases, furthering climate change, while plastic waste, often Â  non-biodegradable, poses long-term environmental risks. Once Â  disposed of, plastics accumulate in landfills and, in some cases, Â  enter natural ecosystems, where they can harm wildlife and Â  pollute water bodies. However, if disposed correctly, plastic is Â  also to be recognised as an important energy source. Aluminium Â  is an energy-intensive resource. The environmental effects of Â  paper production include deforestation, use of large amounts of Â  energy and water, and air pollution and waste problems. Â  This actual negative impact occurs in ALK's own operations Â  on the short, medium and long term. ALK recognises its short- Â  term operational reliance on these materials and is working to Â  evaluate opportunities for more sustainable practices, such as Â  improved recycling efforts. Â  Impact Â  Pharmaceutical standards on products leaving Â  minimal leeway for circularity in product design Â  The pharmaceutical industry is highly regulated, setting high Â  standards on the quality and sterility of products. The high Â  standards, which ALK must comply with, result in plastic waste Â  and limited options for using circular products. This leads to Â  environmental impacts from the upstream production of the Â  materials and increased waste from both production and end- Â  users. Â  This results in a negative actual impact on the environment, Â  which spans the short, medium and long term in its own oper- Â  ations. ALK is exploring opportunities to transition to more Â  sustainable packaging, e.g. by introducing recycled paper and Â  cardboard. Â  Impact Â  Operational waste partly disposed in landfills Â  A portion of ALKâs operational waste is disposed of in land- Â  fills, leading to potential environmental effects such as odour, Â noise, smoke, and water contamination. This impact varies with Â  local waste management infrastructure, with greater reliance Â  on landfills in the USA compared to Europe. Limited recycling Â  infrastructure in some areas hampers the recovery of reusable Â  materials, and recycling rates depend heavily on local state Â  regulations. Â  This actual negative impact occurs within ALKâs own opera- Â  tions over the short and medium term. Efforts are underway to Â  enhance waste tracking and explore recycling and reuse oppor- Â  tunities to reduce landfill dependency. Â  Impact Â  End of life of products Â  The management of ALK products at the end of their lifecycle is Â  shaped by national and regional differences in waste handling Â  practices. Limited recycling infrastructure for medicinal prod- Â  ucts means that, in some regions, some products are ultimately Â  disposed of in landfill systems. This hinders the recovery of Â  potentially reusable materials, including recyclable packaging, Â  and creates uncertainty in disposal outcomes. Â  This creates an actual negative impact in ALK's downstream Â  value chain as a result of ALK's own activities. It occurs in the Â  short, medium and long term. Â  Although some ALK products include recyclable packaging or Â  components, the recycling rates for these materials depend Â  heavily on local country and state regulations. ALK is continuing Â  to evaluate opportunities to better understand and improve the Â  handling of waste streams in the product lifecycle. Â  ESRS E5 Â  Impact, risk and opportunity Â  management Â  E5-1 Â  Policies related to resource use and circular economy Â  Waste is managed at site level, meeting local legal require- Â  ments. As a result, ALK has not previously had the need for Â  establishing a formal global policy on resource use and circular Â  economy. In 2025, ALK plans to introduce a global waste policy Â  to address landfill waste. Â  Concerning circular economy, ALK has not adopted global Â  policies specifically focused on transitioning away from the Â  extraction of virgin resources. Moreover, ALK does not have Â  global policies on sustainable sourcing and use of renewable Â  resources, or on addressing impacts, risks and opportunities in Â  ALK's upstream and downstream operations. Â  E5-2 Â  Actions and resources related to Â  resource use and circular economy Â  Because ALK has not developed policies yet, no actions were Â  undertaken in 2024 to achieve resource use and circular Â  economy-related policy objectives. However, relevant actions Â  and resources are evaluated and allocated at the operational Â  level as appropriate to meet local regulatory requirements. Â  As part of its ongoing initiatives, ALK's focus in 2024 has been on Â  improving its mapping of waste types and fractions in alignment Â  with the ESRS. Moreover, ALK has launched initiatives which Â focus on developing plans to reduce and eliminate the amount of Â  waste that is not part of a reuse or recycling programme. Â  ESRS E5 Â  Metrics and targets Â  E5-3 Â  Targets related to resource Â  use and circular economy Â  The focus in 2024 has been on aligning the Â  waste reporting with the ESRS to establish a Â  baseline. As a result, ALK has not currently Â  set targets related to any layer of the waste Â  hierarchy for resource inflows and outflows, in Â  particular on waste, products and materials, Â  whether mandatory or voluntary. However, Â  ALK is evaluating its approach and considering Â  implementing relevant targets in the future to Â  align with evolving sustainability priorities and Â  regulatory expectations. Â  E5-4 Â  Resource inflows Â  ALK does not currently gather global data on Â  its material resource inflows but plans to map Â  this out during 2025 for future reporting. Â  E5-5 Â  Resource outflows Â  All of ALK's waste is directed towards recy- Â  cling, reuse, incineration with energy recovery Â  and landfill. ALK does not have any waste Â  managed as âother disposal operationsâ. Â Total waste generated amounted to 2,882 Â  tonnes (2023: 1,939). The waste generated Â  increased by 49% due to improved waste Â  reporting and the fact that organic materials Â  are now included in the waste reporting. Â  86% (2,478 tonnes) of the total waste is non- Â  hazardous. Â  81% of the waste was diverted from disposal Â  (reused or recycled). Within this diverted Â  waste, 40% (929 tonnes) was directed Â  towards recycling initiatives and 60% (1,408 Â  tonnes) was prepared for reuse, aligning with Â  the Waste Framework Directive (Directive Â  2008/98/EC). Â  The waste directed to disposal was carefully Â  managed based on waste treatment types. Â  Out of the 545 tonnes, 74% (403 tonnes) was Â  incinerated and 26% (142 tonnes) was sent to Â  landfill. Â  ALK does not currently gather global data on Â  the rate of recycable content but plans to map Â  this out during 2025 for future reporting. Â  At ALK, the waste composition can Â  be separated into two primary waste Â  streams: Â  1 Pharmaceutical waste streams, Â  which include Â  â¢ chemical waste and medical waste Â (residues from APIs, solvents, and Â  reagents used in production processes) Â  â¢ product-related material (plastics, Â metals, glass, and transportation Â  boxes). Â  2 Agricultural waste streams, which Â  come from ALK's source materials Â  used in the allergen production, Â  and include Â  â¢ mite media (residual materials Â from the cultivation and extraction Â  of allergenic source materials) Â  â¢ organic materials (plant-based Â or biological substances such as Â  hay and wood trimmings). Â  E5-5 Â  Resource outflows Â  Waste generated diverted from disposal Â  Unit Â  2024 Â  20231 Â Preparation for reuse Â  Hazardous Â  Tonnes Â  24 Â  N/A Â  Non-hazardous Â  Tonnes Â  1,384 Â  N/A Â  Tonnes Â  1,408 Â  N/A Â  Recycling Â  Hazardous Â  Tonnes Â  221 Â  N/A Â  Non-hazardous Â  Tonnes Â  708 Â  N/A Â  Tonnes Â  929 Â  N/A Â  Other recovery operations Â  Hazardous Â  Tonnes Â  - N/A Â  Non-hazardous Â  Tonnes Â  - N/A Â  Tonnes Â  - N/A Â  Total hazardous Â  Tonnes Â  245 Â  N/A Â  Total non-hazardous Â  Tonnes Â  2,092 Â  N/A Â  Total waste generated diverted from disposal Â  Tonnes Â  2,337 Â  1,451 Â  1 2023 figures are not covered by the Independent Auditorâs limited assurance report, and are not comparable due to change in Â  methods and data quality. Â  Waste generated directed to disposal Â  Unit Â  2024 Â  20231 Â Incineration Â  Hazardous Â  Tonnes Â  158 Â  N/A Â  Non-hazardous Â  Tonnes Â  245 Â  N/A Â  Tonnes Â  403 Â  270 Â  Landfill Â  Hazardous Â  Tonnes Â  1 N/A Â  Non-hazardous Â  Tonnes Â  141 Â  N/A Â  Tonnes Â  142 Â  218 Â  Other disposal operations Â  Hazardous Â  Tonnes Â  - N/A Â  Non-hazardous Â  Tonnes Â  - N/A Â  Tonnes Â  - N/A Â  Total hazardous Â  Tonnes Â  159 Â  N/A Â  Total non-hazardous Â  Tonnes Â  386 Â  N/A Â  Total waste generated directed to disposal Â  Tonnes Â  545 Â  N/A Â  Total waste Â  Unit Â  2024 Â  20231 Â Waste generated Â  Hazardous and radioactive Â  Tonnes Â  404 Â  N/A Â  Non-hazardous Â  Tonnes Â  2,478 Â  N/A Â  Tonnes Â  2,882 Â  1,939 Â  Non-recycled waste Â  Tonnes Â  544 Â  N/A Â  Non-recycled waste Â  % 19% Â  N/A Â  Recycled waste Â  Tonnes Â  2,337 Â  N/A Â  Recycled waste Â  % 81% Â  N/A Â  Accounting policies â Environmental information Â  The numeric datapoints reported are verified through Â  internal controls, analysis, benchmarks, and regular Â  business meetings. External auditors provide limited Â  assurance on 2024 metrics. The metrics are not vali- Â  dated by another external body, with the exception of the Â  science-based target metrics which are approved by the Â  Science Based Targets initiative (SBTi). N/A is used when Â data was not available at the time of the reporting and Â  could not be retrieved. Â  Scope Â  Environmental data covers ALKâs production sites Â  in the USA (Post Falls and related farms, Port Wash- Â  ington, Oklahoma City, Luther and Plainville), Denmark Â  (HÃ¸rsholm), Spain (Madrid), and France (Vandeuil and Â  Varennes). Sales offices located across the globe are Â  excluded from reporting on energy, pollution, water, Â  substance of concerns and waste data due to the low Â  materiality of their environmental footprint. Â  From 2024 onwards, in accordance with ESRS require- Â  ments, data from sales offices are included in green- Â  house gas (GHG) emission reporting (Â E1-6 on page Â 54). However, the reduction target for scope 1 and 2 Â remains focused primarily on production sites, as vali- Â  dated by SBTi. Â  Climate Change Â  E1-5 Â  Energy consumption and mix Â  Energy consumption for operations is measured as Â  consumption of power, heat and fuel. "Fuel consump- Â  tion from crude oil and petroleum products" consists Â  of diesel, gas oil and propane. Energy consumption is Â  based on meter readings and/or invoices at individual Â production sites. Numbers are reported in KWh and Â  converted to MWh. Â  Some invoice service periods do not align with calendar Â  months; however, they are one month long, determining Â  reporting periods. While the majority of the data is Â  derived from actual data, some estimations are applied Â  to a minor portion of the fuel consumption data: Â  â¢ Fuel consumption from diesel backup generators: Â  Diesel consumption under "fuel consumption from Â  crude oil and petroleum products" is primarily based Â  on estimates. These generators contribute only a Â  minor portion of the overall fuel consumption from Â  crude oil and petroleum products. Â  â¢ Fuel consumption estimation for collecting vehi- Â  cles: For some collecting vehicles at USA production Â sites, where odometers are aged or damaged and Â  mileage data cannot be documented, fuel consump- Â  tion is estimated. Â  Electricity production is sourced 100% from renew- Â  able power, primarily through Renewable Electricity Â  Certificates (REC). The share of renewable power used Â  at production sites is reported according to the market- Â  based method of the GHG Protocol scope 2 Guideline. Â  The conversion factors for measuring units are sourced Â  from well-established and authoritative references. Â  The use of conversion factors for measuring units are Â  consistent across multiple sites and contexts, ensuring Â  reliability and uniformity in reporting and calculations. Â  E1-6 Â  Gross Scopes 1, 2, 3 and Total GHG emissions Â  GHG emissions are prepared in accordance with the GHG Â  Protocol, using the operational control approach. Â  GHG emissions are reported in metric tonnes of carbon Â  dioxide equivalent according to global warming poten- Â  tial values published by the Intergovernmental Panel Â  on Climate Change (IPCC) based on a 100-year time Â  horizon. All greenhouse gases are included. Â  When available and recent, source and supplier-specific Â  emission factors or local grid emission factors are used. Â  This methodology ensures accurate emission factors by Â  reflecting local energy mixes and regional character- Â  istics, leading to reliable and relevant emission calcu- Â  lations. When such data are unavailable or outdated, Â  general emission factors are utilized. The specific data- Â  bases used in these instances are disclosed below. Â  Scope 1 emissions Â  Reported scope 1 emissions comprise direct energy Â  consumption (including emissions from collecting vehi- Â  cles), company fleet and refrigerants. Â  Direct energy consumption Â  GHG emission from direct energy consumption is calcu- Â  lated using the fuel consumption reported in Â  E1-5 on Â  page 55. This includes diesel, gas oil, natural gas and Â propane. Â  When local emission factors are unavailable, general Â  CO2 emission factors from UK Government GHG Conver- Â sions Factors and Environmental Protection Agency Â  (EPA) GHG Emissions Factors are used. These authori- Â  tative sources provide comprehensive data covering a Â  wide range of activities and energy sources, ensuring Â  that the Global Environment, Health and Safety (EHS) Â  function has access to extensive data suitable for all ESG Â  calculations. Â  Emissions from collecting vehicles are reported under Â  direct energy consumption. Collecting vehicles are Â  leased or owned company vehicles used for collecting Â  source materials. Emissions are based on mileage and Â  emission factors for diesel and gas oil are updated Â  according to EPA annual emissions factors. Â  Company fleet Â  Company fleet emissions are based on either actual Â  mileage or contracted annual mileage. Average Â  passenger vehicle emission factors are taken from Â  UK Department for Environment, Food &amp; Rural Affairs Â  (DEFRA). Data for December is estimated based on Â  average monthly consumption in the reporting year. Â  Refrigerants Â  Emissions from refrigerants listed in the GHG Protocol Â  are included in scope 1. Associated CO2e emissions, Â resulting from the leakage of refrigerants from cooling Â  systems, are calculated based on refrigerant quantities Â  and their respective global warming potential. Emission Â  factors used for reporting are based on annual data Â  from the UK Government Conversion Factors for GHG Â  reporting. Â  Scope 2 emissions Â  Scope 2 emissions comprise CO2e emissions from Â purchased electricity and heat (district heating), as Â  disclosed in Â  E1-5 on page 55. Â Scope 2 location-based emissions are calculated based Â  on average energy generation emission factors for Â  defined locations, while scope 2 market-based emis- Â  sions are calculated based on emissions calculated Â  from specific energy purchase contracts and therefore Â  consider renewable energy purchase certificates. Â  When local emission factors are unavailable, general Â  CO2 emission factors from UK Government GHG Conver- Â sions Factors and EPA GHG Emissions Factors are used. Â  These authoritative sources provide comprehensive Â  data covering a wide range of activities and energy Â  sources, ensuring that Global EHS has access to exten- Â  sive data suitable for all ESG calculations. Â  ALK does not have bundled certificates. All electricity Â  consumption is covered by 100% unbundled renewable Â  energy certificates, while none of its district heating Â  consumption is covered by unbundled certificates. Â  Sales offices Â  GHG emissions from sales offices are estimated based Â  on office area (square meters). Emission factors are Â  specific to each country, and the energy use factor is a Â  worldwide average for offices. Â  Scope 3 emissions Â  All scope 3 emissions are calculated based on data Â  covering January-December 2024, except category Â  3, 4 and 12. The months of November and December Â  are estimated based on average consumption in the Â  reporting year. Â  Scope 3 categories 8, 10, 11, 13, 14, and 15 from the GHG Â  Protocol are excluded as they are not relevant to the Â  company's operations. Â  Purchased goods and services (Category 1) Â  (significant estimate): Calculated using spend-based Â emission factors from the Comprehensive Environmental Â  Data Archive (CEDA). The use of estimates for this data- Â  point is considered significant. Â  Capital goods (Category 2): Calculated using spend- Â based emission factors from CEDA for upstream emis- Â  sions of industrial machinery owned and operated by Â  ALK. Â  Fuel and energy related activities Â  (Category 3): Calculated for upstream transmission Â &amp; distribution losses of fuels, electricity and district Â  heating consumed by ALK which are not included in Â  scope 1 and scope 2, by using emission factors from Â  DEFRA. Â  Upstream transportation and distribution (Category Â  4): Calculated using a mix of spend-based emission Â factors from CEDA and primary emissions from certain Â  distribution providers. Well-to-tank emission factors are Â  provided by DEFRA. Â  Waste generated in operations (Category 5): Calcu- Â lated using emission factors from DEFRA dependent on Â  material type, treatment type, material location and Â  material weight. Â  Business travel (Category 6): Calculated using well-to- Â wheel flight emissions from DEFRA with primary activity Â  data from service providers. Â  Employee commuting (Category 7): Estimated using Â Quantis emission factors based on the average number Â  of full-time equivalent employees in the reporting year, Â  with well-to-tank emission factors from DEFRA. Â  Downstream transportation and distribution (Cate- Â  gory 9): Calculated using spend-based emission factors Â from CEDA on trunk transportation. Â  End-of-life treatment of sold products (Category 12): Â  Estimated for materials used in products using DEFRA Â  emission factors for material type, country of distribu- Â  tion, assumed treatment type and weight. Â  E1-3 Â  Actions and resources in relation to climate change Â  policies Â  Scope 1+2 reduction target Â  GHG emission reduction targets follow SBTi guidelines, Â  encompassing all production sites. Emissions from sales Â  offices are excluded, as they account for less than 5% Â  of scope 1 and 2 GHG emissions. Future developments, Â  such as changes in sales volumes, have been consid- Â  ered when setting the targets. The achieved reduction Â  is calculated against a 2022 baseline for scope 1 and 2 Â  emissions from production sites, ensuring consistency in Â  the scope over the years. Â  Scope 3 emissions from suppliers with science- Â  based targets Â  This metric quantifies scope 3 emissions from suppliers Â  with SBTi targets, including those with commitments. Â  To determine this, suppliers responsible for more than Â  80% of GHG emissions (covering purchased goods and Â  services, capital goods, upstream transportation and Â  distribution, business travel and downstream trans- Â  portation and distribution) are identified based on the Â  highest spend and emissions data for 2024. Â  These suppliers are verified through the SBTi dashboard Â  to confirm which have approved targets. The Supplier Â  Tracker List is used to document suppliers with approved Â  targets. Â  After verification, the emissions from these suppliers Â  are aggregated and compared to the total emissions in Â  these categories. This methodology ensures accurate Â  and transparent reporting aligned with standard ESG Â  accounting principles. Â  Pollution Â  ALK follows the EUâs Corporate Sustainability Reporting Â  Directive (CSRD) and its definition of "Substances of Â  Concern" (SoCs) and subset category âSubstances of Â  Very High Concernâ (SVHCs). All production sites and Â  Research and Development report on purchased quan- Â  tities of SoCs and SVHCs. All SoCs and SVHCs arise from Â  purchased quantities. Â  At production sites, which include Product Supply and Â  Research and Development, comprehensive lists of Â  SoC chemicals are created by using the internal chem- Â  ical management system. SoC chemicals are labelled Â  with one or more Hazard-statements (H-statements), Â  according to the Classification, Labelling and Packaging Â  of chemicals (CLP Regulation) in EU. For production sites Â  in the USA, where H-statements are not available, GHS Â  hazard statements (defined by OSHA) are translated into Â  H-statements to determine which chemicals are SoCs or Â  SVHCs. Â  Purchased quantities are based on invoices or delivery Â  notes from vendors, reported in local unit of measures Â  and converted to metric tons for disclosure. Â  Water and marine resources Â  (incl. significant estimate for irrigation) Â  At production sites, water is categorised into water for Â  domestic use (drinking water, sanitary water, and water Â  for production) and water for irrigation, which is used Â  for cultivating source materials. For irrigation, the use of Â  estimates is considered significant. Â  Water consumption is reported in m3 based on meter Â readings and/or invoices at individual production sites. Â When meter readings or invoices are unavailable, esti- Â  mation-based water consumption is used to calculate Â  water consumption: Â  â¢ Water irrigation for leased land at Post Falls (USA) Â  production site is estimated based on land area. The Â  water consumption intensity factor (water consump- Â  tion per acre) is calculated by the landowner using Â  data from their records and their knowledge of the Â  land, crops, and soil. For one of the leased land, water Â  irrigation consumption is calculated using data from Â  a specific area at Post Falls (USA) production site Â  and then applied to that leased land for reporting Â  purposes. Â  â¢ Water usage at leased facilities in Plainville and Port Â  Washington (USA) production sites is estimated Â  based on square footage occupied by ALK, as stated Â  in the leasing contract, relative to the total square Â  footage of the building. Using these numbers, an esti- Â  mation for water consumption is calculated. Â  Currently, there is only one leased land in the USA where Â  water reuse occurs, overseen of the DEQ (Department Â  of Environmental Quality). This area is part of a water Â  reclamation program. The landowner provides water Â  consumption values for ALK crops once a year based on Â  meter reading. Â  Production sites located in areas at water risk are Â  identified using the "Water Scarcity" dimension of the Â  WWF Water Risk Filter. Madrid (Spain) production site Â  is the only site classified as being in a water risk area. Â  Additionally, areas of high-water stress are defined as Â  areas were the percentage of total water withdrawn is Â  higher than 40%, as determined by the "Water stress" Â  dimension of Aqueduct Water Risk Atlas tool of the World Â  Resources Institute (WRI). Madrid (Spain) production Â  site is also the sole site identified in a high-water stress Â  area. Â  Resource use and circular economy Â  Waste is generally reported and classified at site level Â  based on invoices received from waste vendor recipi- Â  ents. Waste for production sites is converted from local Â  unit into metric tons in total. Some estimates are used to Â  calculate waste: Â  â¢ General solid waste at Luther and Plainville (USA) Â  production sites is estimated based on the pickup Â  cycles reported by the waste vendor for each quarter. Â  â¢ For the leased location at 2 Channel at Port Wash- Â  ington (USA) production site, general solid waste is Â  not managed internally. Estimation is therefore based Â  on the average number of garbage bags collected Â  per day. Â  â¢ For some USA production sites and Madrid (Spain) Â  production site, certain types of waste are estimated Â  based on the number of pickups reported by the waste Â  vendor. These estimates are either supported by Â  actual waste weight measurements collected over a Â  defined period and applied as fixed standards for the Â  waste type, or, when actual weights are unavailable, Â derived using conversion factors published by govern- Â  mental authorities. Â  The actual weights of containers or dumpsters are meas- Â  ured at local production sites over a defined period. Â  By default, waste is reported in accordance with the Â  waste hierarchy of EU waste polices and legislation, Â  which is described in the EU waste framework directive Â  (Directive 2008/98/EC). Â  For production sites in Europe, when there is a difference Â  between EU and national legislation, ALK follows the Â  national legislation. Waste types are categorised by Â  the respective waste vendor according to the national Â  legislation. Â  For production sites in the USA, estimation-based waste Â  is calculated using conversion factors published by the Â  US EPA. Â  Intensity calculations Â  Net revenue amounts are derived from ALK group's Â  total revenue of the consolidated financial statements Â  (note 2.1 on page 114). Â Intensity calculations are reported as unit / annual Â  revenue in million DKK. GHG intensity is calculated using Â  total emissions (scope 1, 2 and 3) on location-based and Â  market-based methods. Â  All revenue falls under NACE Section C: Manufacturing, Â  Division 21: manufacturing of basic pharmaceutical Â  products and pharmaceutical preparations according Â  to Commission Delegated Regulation (EU) 2022/1288. Â  Manufacturing is a high climate impact sector. Â  S1 Own workforce Â  ESRS S1 Â  Equal treatment and opportunities Â  ESRS 2-SBM3 Â  Material impacts, risks and opportunities and their Â  interaction with strategy and business model Â  Location in Â  Time Â  the value chain Â  horizon Â  Impacts, risks and Â  opportunities Â  S1 Own workforce Â  IRO Â  Decline in employee competencies due to inadequate skill upgradingÂ Potential negative impact Â â â â â Employee retention, attraction and development challenges Â  Risk Â  â â As a global leader in allergy treatment within the pharmaceu- Â  tical industry, ALK recognises that its workforce is its most Â  valuable asset. ALK's strategy is designed to support their well- Â  being, professional growth and inclusivity, ensuring that ALK Â  attracts and retains key competences across its operations. Â  In the materiality assessment, ALK identified the following mate- Â  rial impact and risk: Â  Impact Â  Decline inÂ employee competencies due Â to inadequate skill upgrading Â  ALK relies on its employees having the right skills and compe- Â  tences in order to be able to perform their tasks and support Â  business growth. If not maintained, the employees' skills will Â  decline over time, and their ability to meet future business needs Â  will not be supported. Without adequate development plans, Â  employees may find it more challenging to meet new job expec- Â  tations, have limited opportunities for promotion, and experi- Â  ence a decrease in employability after leaving ALK. Â  This creates a potential negative impact, which occurs in ALK's Â  own operations over the short, medium and long term and is Â  directly linked to ALK's own activities. Â  Therefore, ALK seeks to foster a culture of continuous learning Â  and growth for its workforce. As part of the Global People Â  Performance Process, all employees are required to have Â  a personal development plan. These plans are linked to job Â  content and performance goals and are updated annually. This Â  process is exclusive to ALK employees and does not extend to Â  non-employees. Â  Risk Â  Employee retention, attraction and Â  development challenges Â  ALK operates in a highly competitive labour environment within Â  the pharmaceutical industry, especially at its Danish, Chinese, Â  and USA East Coast sites. With a revenue growth strategy of 10%, Â  paying competitive salaries and ensuring continuous learning Â  and skills development is critical for ALK to meet its strategic Â  targets. Salaries below relevant market levels as well as insuf- Â  ficient learning and development opportunities can negatively Â  impact employee retention and reduce the overall attractiveness Â  of ALK as a workplace. This may hinder the company's ability to Â  attract new employees and retain existing ones. Â  This risk is focused on ALK's own operations and could lead to a Â  shortage of necessary competencies needed to support busi- Â  ness growth in the short, medium, and long term. Â  To mitigate this risk, ALKâs reward philosophy and salary Â  processes aim to ensure competitive wage levels and empha- Â  sises continuous skill enhancement across all business areas, Â  through learning and development opportunities. Â  S1-1 Â  Policies related to own workforce Â  ALK endorses the UN Guiding Principles on Business and Human Â  Rights and is a signatory to the UN Global Compact. These Â  commitments are integrated into ALK's Code of Conduct, which Â  applies to all employees. Â  ALK's Code of Conduct explicitly prohibits employees from Â  condoning or engaging in any form of child or forced labour. The Â  policy does not specifically mention human trafficking, as this is Â  not a high-risk topic within ALK's industry. Â  The Code of Conduct is presented in detail in G1-1 on page 88. Â  S1-2 Â  Processes for engaging with own workforce Â  and workersâ representatives about impacts Â  ALKâs commitment to fostering a culture of open communica- Â  tion, engagement and collaboration is anchored in two key Â  processes: the workersâ councils and the employee engagement Â  survey. This engagement has informed the material impacts and Â  opportunities around development plans and learning opportu- Â  nities, as well as health and safety matters. Â  Workersâ councils Â  Formalised workersâ councils are established at all European Â  sites where legally required. These councils serve as dedicated Â  forums where both employees and management can address Â  and resolve a spectrum of issues, ranging from the company's Â  competitiveness to employee engagement. In the USA and Â  China, dialogues are facilitated through the People &amp; Organisa- Â  tion departments. Â  Workersâ council meetings are held several times a year. Â  Engagement varies according to topic and can take the form of Â  information-sharing, consultation or co-determination. Involve- Â  ment of workers' councils in decision-making follows local legal Â  principles for engagement. Â  Engagement survey Â  Direct engagement with all employees is driven by the annual Â  global employee engagement survey, which provides a direct Â  avenue for expressing satisfaction and offering feedback. Â  This year's participation rate remained high at 95% (2023: Â  95%), reflecting the Executive Leadership Team's commitment Â to valuing employee feedback and taking action. The overall Â  engagement score was 8.3 (2023: 8.4), positioning ALK in the Â  top 5% against the international healthcare benchmark. Â  The Executive Vice President of People and Organisation is Â  responsible for ensuring that the engagement with employees Â  happens and informs the Executive Leadership Team (ELT) of Â  the results and actions taken. Â  S1-4 Â  Taking action on material impacts on own workforce, Â  and approaches to managing material risks and Â  pursuing material opportunities related to own Â  workforce, and effectiveness of those actions Â  Development plans at ALK depend on an employee's life- Â  cycle stage (new hire, experienced professional, or resigned Â  employee). These plans are linked to job content and perfor- Â  mance goals, updated annually between March and October. Â The process is tracked through the human resources system, Â  with a completion rate of 93% for 2024 (Â see S1-13 on page 78). Â ALK follows the 70-20-10 learning principle: 70% on-the-job Â  training, 20% peer learning, and 10% training/classroom Â learning. ALK does not currently have a process to assess the Â  quality of development plans, so it is not possible to document Â  the exact linkage between development actions and individual Â  performance. Â  ALK plans to review and improve the development plan process Â  in 2025 by providing clearer guidance and enhanced training Â  for both employees and leaders. ALK also aims to enhance its Â  D&amp;I strategy to include other diversity parameters, such as Â  geography. ALK intends to update its talent approach to ensure Â  that the right talents are identified, targeted, and developed in Â  alignment with the overall strategy. Â  To address the continuous development of its leaders, ALK Â  continued the rollout of the Leading with Impact programme for Â  186 leaders across the organisation. ALK will continue to focus Â  on leadership development by addressing critical leadership Â  capabilities and creating scalable training solutions for leaders Â  worldwide. Â  ALK has a dedicated team within Global People and Organ- Â  isation that manages global development programmes for Â  employees. In addition, leaders and employees are responsible Â  for ensuring that own skills meet current and future job require- Â  ments. Â  S1-5 Â  Targets related to managing material negative Â  impacts, advancing positive impacts, and Â  managing material risks and opportunities Â  As part of the CSRD implementation, ALK has prioritised the Â  establishment of baseline data for its reporting before initi- Â  ating the target-setting process. As a result, ALK has not yet set Â  targets to address its material impacts and opportunities within Â  its own workforce or engaged with employees or their repre- Â  sentatives specifically on this matter. The need for additional Â targets will be reviewed in 2025. Â  S1-6 Â  Characteristics of the undertakingâs employees Â  Employees' characteristics Â  Unit Â  2024 Â  20231 Â Employees' characteristics Â  Unit Â  2024 Â  20231 Â Number of employees per country Â  Number of non-guaranteed hours employees Â  China Â  # 175 Â  164 Â  Male Â  # 15 Â  14 Â  Denmark Â  # 942 Â  983 Â  Female Â  # 20 Â  23 Â  France Â  # 357 Â  379 Â  Chooses not to self identify Â  # - - Germany Â  # 137 Â  142 Â  # 35 Â  37 Â  Poland Â  # 96 Â  101 Â  Spain Â  # 364 Â  373 Â  Employee turnover Â  # 463 Â  316 Â  USA Â  # 547 Â  533 Â  Employee turnover Â  % 17% Â  12% Â  Other Â  # 194 Â  214 Â  1 2023 figures are not covered by the Independent Auditorâs limited assurance report. Â  # 2,812 Â  2,889 Â  Number of permanent employees Â  ALK employs 2,812 employees (2023: 2,889), out of which 2,574 are permanently employed (2023: Â  Male Â  # 970 Â  990 Â  2,638). The employee turnover was 17% in 2024 (2023:12%), out of which 283 employees left voluntarily Â  Female Â  # 1,601 Â  1,645 Â  and 180 involuntarily. The decrease in number of employees and the increase in employee turnover Â  Chooses not to self identify Â  # 3 3 reflects the organisational adjustments relating to the implementation of the AllergyÂ strategy. Â + # 2,574 Â  2,638 Â  The most representative number, disclosed in the consolidated financial statements, corresponding to the total Â  Number of temporary employees Â  number of employees is the full-time equivalent employees (FTEs) (note 2.4 on page 116). Â  Male Â  # 95 Â  95 Â  Female Â  # 142 Â  156 Â  Chooses not to self identify Â  # 1 - # 238 Â  251 Â  Total male Â  # 1,065 Â  1,085 Â  Total female Â  # 1,743 Â  1,801 Â  Total chooses not to self identify Â  # 4 3 Total number of employees Â  # 2,812 Â  2,889 Â  S1-13 Â  Training and skills development metrics Â  Training and skills development Â  Unit Â  2024 Â  Participation in performance and Â  career reviews Â  Male Â  % 91% Â  Female Â  % 94% Â  Chooses not to self identify Â  % 100% Â  Number of performance reviews per Â  employee per year Â  # 1 Total participation to performance Â  and career reviews Â  % 93% Â  S1-16 Â  Remuneration metrics Â  (pay gap and total remuneration) Â  Remuneration metrics Â  Unit Â  2024 Â  20231 Â CEO annual Â  compensation ratio Â  Times Â  33 Â  30 Â  Gender pay gap Â  % 17% Â  16% Â  1 2023 figures are not covered by the Independent Auditorâs limited assurance Â  report. Â  The gender pay gap reflects the disparity in representation, as ALK Â  currently has a higher proportion of men than women in senior lead- Â  ership positions. ALK is continuously working on ensuring gender Â  equality in leadership positions. Â  ESRS S1 Â  Health and safety Â  ESRS 2-SBM3 Â  Material impacts, risks and opportunities and their Â  interaction with strategy and business model Â  Location in Â  Time Â  the value chain Â  horizon Â  Impacts, risks and opportunities Â  S1 Own workforce Â  IRO Â  Injuries due to workplace accidents in farmingÂ and production Â Actual negative impact Â  â â Impact Â  Injuries due to workplace accidents Â  in farmingÂ and production Â Health and safety management is an essential part of ALKâs Â  operations, especially in production and farming activities Â  where employees may face workplace risks. Based on engage- Â  ment with internal stakeholders representing affected stake- Â  holder groups, ALK has developed an understanding of how Â  people working in particular activities may produce specific Â  negative impacts. Â  Workplace accidents during production and farming may result Â  in injuries to members of ALKâs workforce. These injuries can Â  cause physical harm, impact mental well-being, and raise Â  concerns about workplace safety. Such incidents may also Â  affect employee morale and productivity. Â  This creates an actual negative impact on ALK's own workforce, Â  which is related to individual incidents and occurs annually in the Â  short term. To prevent accidents and mitigate their effects, ALK Â  conducts risk assessments, implements safety protocols, and Â  adheres to national and Occupational Safety and Health Admin- Â  istration (OSHA) standards for injury recording and compliance. Â  S1-1 Â  Policies related to own workforce Â  ALK adheres to national legislation and regulatory requirements Â  in all countries of operation. ALK follows local legislation to Â  ensure compliance with health and safety requirements. In the Â  USA, ALK complies with OSHA standards. Safety procedures are Â  implemented at production facilities to mitigate risks identified Â  through assessments and ensure a safer working environment. Â  As a result, ALK has not previously identified the need for a Â  global Environmental, Health, and Safety (EHS) policy or a Â  global management system. Â  S1-3 Â  Processes to remediate negative impacts and Â  channels for own workforce to raise concerns Â  ALK emphasises the importance of engaging workers in health Â  and safety practices to foster shared responsibility and work- Â  place safety. Â  To prevent injuries, ALK conducts risk assessments across Â  all its production sites. These assessments identify potential Â  hazards, implement appropriate measures to reduce risks and Â  evaluate the effectiveness of existing safety measures. Workers Â  contribute to those risk assessments by providing input on Â  hazards and by helping to develop site-specific safety meas- Â  ures. Â  Workplace injuries are also recorded and monitored. For USA Â  operations, ALK adheres to OSHA standards for tracking and Â  reporting injuries. This data provides insights into workplace Â  safety trends and helps ensure that operations comply with Â  applicable legal frameworks. Â  Employees are encouraged to report unsafe conditions or Â  hazards, which are promptly reviewed and addressed to Â  improve workplace safety. Regular training ensures that Â  workers understand health and safety procedures and risks Â  relevant to their tasks. Â  All employees can also raise concerns through the whistleblower platform Â  ALK Alertline, which is described in detail in G1 on page 89. Â S1-4 Â  Taking action on material impacts on own workforce, Â  and approaches to managing material risks and Â  pursuing material opportunities related to own Â  workforce, and effectiveness of those actions Â  ALK has a continuous focus on maintaining health and safety for Â  its employees and is actively engaged in projects focused on Â  improving material risk and work force exposure. This engage- Â  ment has ensured that ALK employeesâ exposure to chemicals/ Â  substances is minimised/reduced. Tracking of yearly training Â  ensures that ALK employees have the necessary competences Â  to perform safe work processes. Â  S1-14 Â  Health and safety metrics Â  Health and safety Â  Unit Â  2024 Â  20231 Â Work-related accidents Â  # 112 Â  106 Â  Work-related accidents Â  rate Â  1.5 Â  0.8 Â  Fatalities as a result of Â  work-related incident Â  # - - Employees covered by Â  health &amp; safety manage- Â  ment system Â  % 74% Â  N/A Â  1 2023 figures are not covered by the Independent Auditorâs limited assurance Â  report. Â  ALK hadÂ 6 accidents with lost time absence ordinated by a Â medical professional in 2024 (2023:3). This resulted in an acci- Â  dent rate of 1.5. Â  S1-17 Â  Incidents, complaints and severe Â  human rights impacts Â  See G1 on page 90. Â  S2 Workers in the value chain Â  ESRS 2-SBM3 Â  Material impacts, risks and opportunities and their Â  interaction with strategy and business model Â  Location in Â  Time Â  the value chain Â  horizon Â  Impacts, risks and opportunities Â  S2 Workers in the value chain Â  IRO Â  Health and safety related incidents of workers in the value chain Â  Potential negative impact Â  â â â â â The materiality assessment identified the impacts seen below Â  related to workers in ALK's value chain. Those impacts originate Â  from ALKâs strategy and business model and are integrated into Â  ALKâs work with its suppliers.Â While ALK has identified its high- Â level material impacts on value chain workers, a more detailed Â  understanding is still to be developed, to identify specific activ- Â  ities where workers may be at a greater risk of harm. However, Â  the majority of ALKâs suppliers are EU-based where the level of Â  law enforcement is generally high and the risk of child labour Â  low. Â  Impact Â  Health- and safety-related incidents Â  involving workersÂ in the value chain Â As an international pharmaceutical company specialising in Â  products based on allergenic source materials, ALK relies Â  upon business partners and suppliers across its value chain to Â  produce and distribute its products. Health and safety manage- Â  ment is integral to the success of both ALK and its suppliers. Â  Health and safety incidents can result in a range of negative Â  consequences for individuals and can potentially happen in all Â  parts of the value chain. Â  The most significant groups of supplier employees who could be Â  materially impacted are: Â  â¢ Workers in upstream production units. They could be Â exposed to hazardous substances, including chemicals Â  used in the manufacture of pharmaceutical ingredients and Â  consumables. Key risks in this area include chemical expo- Â  sure, operational hazards and ergonomic risks. Â  â¢ Workers involved in downstream transportation. They Â face the risk of vehicle accidents, which can result in serious Â  injuries or fatalities. These include risks during loading and Â  unloading as well as during transit. Â  â¢ Workers handling hazardous waste. They can encounter Â harmful chemicals that pose significant health risks, including Â  chemical burns, respiratory issues and toxic exposure. Â  The potential negative impact is concentrated in ALK's upstream Â  and downstream supply chain and may occur in the short, Â  medium and long term as individual incidents. To address this Â  impact and prevent harm to workers in its value chain, ALK has Â  policies and procedures in place to ensure that its business Â  partners and suppliers uphold high safety standards. Moreover, Â ALK seeks to establish long-term partnerships with its suppliers, Â  which offer them financial stability and allow them to allocate Â  resources toward ensuring job security for their workers. Â  S2-1 Â  Policies related to value chain workers Â  ALKâs Third-Party Code of Conduct outlines the standards of Â  behaviour that ALK expects from all third parties globally when Â  it comes to business conduct and treatment of employees. The Â  Third-Party Code of Conduct is aligned with the Ten Principles of Â  the United Nations Global Compact and follows the UN Guiding Â  Principles on Business and Human Rights, as well as applicable Â  laws, regulations, standards and labour agreements. Â  Key areas covered include health and safety, animal welfare, Â  anti-corruption, environmental practices, working conditions, Â  human rights (including child and forced labour, anti-discrimi- Â  nation and fair pay), interaction with healthcare professionals Â  and patient organisations. The policy does not specifically Â  mention human trafficking. Â  Any violations of the standards set out in the ALK Third-Party Â  Code of Conduct can be reported through the whistleblower Â  platform. Â  The Third-Party Code of Conduct is an integral part of ALK's GxP Â  (good practice) supplier agreements. All new suppliers must Â  commit to the Code as a pre-requisite for collaboration with Â  ALK. The Chief Finance Officer is the most senior-level executive Â  accountable for the implementation of ALKâs Third-Party Code of Â  Conduct. Â  In addition to the Third-Party Code of Conduct covering human Â  rights impacts, ALK also adheres to the UK Modern Slavery Act Â  and publishes an annual statement of compliance. Â  S2-2 Â  Processes for engaging with value Â  chain workers about impacts Â  While ALK does not currently have a formal process in place Â  to engage with value chain workers about impacts, ALK is Â  committed to developing robust engagement strategies that Â  will enhance communication and strengthen its connection Â  with value chain workers in the future. ALK is actively working Â  to establish processes for engaging with value chain workers Â  in 2025. The Senior Vice President of Global Procurement is Â  responsible for the supplier engagement. Â  S2-3 Â  Processes to remediate negative impacts and Â  channels for value chain workers to raise concerns Â  Value chain workers can raise their concerns through the whis- Â  tleblower platform ALK Alertline. No complaints involving such Â  workers were substantiated in 2024. ALK does not have struc- Â  tures or processes to assess whether value chain workers are Â  aware of and trust ALK Alertline. Â  ALK Alertline is described in detail in G1 on page 89. Â S2-4 Â  Taking action on material impacts on value Â  chain workers, and approaches to managing Â  material risks and pursuing material Â  opportunities related to value chain workers, Â  and effectiveness of those actions Â  Supplier relationships Â  ALK prioritises collaboration with reputable suppliers who Â  adhere to high standards in their labour practices, reducing Â  the likelihood of serious working conditions-related issues. Â  By establishing long-term contracts with these suppliers, ALK Â  ensures financial stability, which fosters a commitment to high Â  labour standards and responsible working conditions. These Â  agreements provide suppliers with reliable revenue streams, Â  enabling them to invest in infrastructure, training and safety Â  initiatives. Financial stability is fundamental for business Â  development, and it enables suppliers to allocate resources to Â  product development and job security for workers. Â  As a result, long-term contracts with suppliers both strengthen Â  supply chain resilience and promote the well-being of workers, Â  contributing to a sustainable and ethical operational environ- Â  ment. Â  Risk assessment and monitoring Â  To address supplier risk, ALK continued its collaboration with Â  an external supplier evaluation platform to identify environ- Â  mental, labour and human rights, and procurement risks. From Â  this initial risk assessment, ALK continues to conduct high-level Â  assessments to identify whether further engagement may Â  potentially be required. Â  The potential negative impact that ALK might cause is monitored Â  through its business relationships. If there is a potential case, Â  appropriate actions are taken accordingly. Â  No severe human rights issues and incidents connected to ALKâs Â  upstream and downstream value chain were reported in 2024 Â  ( see G1-1 for more information on page 90). Â Monitoring and continuous improvement Â  The sustainable procurement manager is a newly established Â  role with responsibility for oversight and management of the Â  sustainable procurement programme globally in ALK. Â  While ALK has not identified any material actual negative Â  impacts, ALK will continue to evaluate its suppliers from a Â  sustainability perspective and take action accordingly. To Â  properly track the effectiveness of remedy actions for workers Â  in the value chain in the future, ALK is seeking to implement a Â  comprehensive monitoring system that includes regular assess- Â  ments and feedback mechanisms to measure outcomes related Â  to worker welfare and satisfaction over time. Â  ALK is committed to enhancing its due diligence processes by Â  2025, with a focus on continuous improvement and compliance Â  with emerging reporting standards. Â  S2-5 Â  Targets related to managing material negative Â  impacts, advancing positive impacts, and Â  managing material risks and opportunities Â  ALK will be updating its responsible supply chain strategy in Â  2025 and considering the need for specific targets to manage Â  health- and safety-related impacts on workers in the value Â  chain. As of 2024, ALK has therefore not yet identified the need Â  for targets related to workers in the supply chain or for engaging Â  with workers in the value chain or their representatives. Â  S4 Consumers and end-users Â  S4-SBM3 Â  Material impacts, risks and opportunities and their Â  interaction with strategy and business model Â  Location in Â  Time Â  the value chain Â  horizon Â  Impacts, risks and opportunities Â  S4 Consumers and end-users Â  IRO Â  Allergy treatment Â  Actual positive impact Â  â â â â Barriers to access Â  Actual negative impact Â  â â â â Patient safety Â  Actual negative impact Â  â â â â Climate change and respiratory health Â  Opportunity Â  â â Allergy is the most common type of chronic disease globally and Â  it has a profound impact on peopleâs lives. For more than 100 Â  years, ALK has been at the forefront of long-term allergy treat- Â  ment. ALK is dedicated to offering a wide range of treatments, Â  products and services to meet the unique needs of people living Â  with allergy, their families and doctors. Â  The materiality assessment identified the following material Â  impacts and opportunities related to customers and end-users. Â  The materially impacted consumers and end-users are health- Â  care professionals and patients. Â  Based on engagement with internal stakeholders representing Â  affected stakeholder groups, ALK has developed an under- Â  standing of how particular products may create specific nega- Â  tive impacts. Â  Impact Â  Allergy treatment Â  ALK products are available worldwide, reaching individuals Â  with diverse ethnic backgrounds, in some cases starting from Â  childhood. ALK offers solutions and products for people affected Â  by allergy and aims to treat a wide range of allergies. Within Â  ALK's portfolio, sublingual immunotherapy tablets offer acces- Â  sible long-term allergy treatment, which can be administered at Â  home, unlike injections which require regular visits to a doctor. Â  Moreover, tablets do not require up-dosing or refrigeration and Â  are available for five of the most common respiratory allergies. Â  ALKâs products therefore seek to enhance the health and well- Â  being of patients regardless of their ethnicity, gender, or age. Â  ALK's portfolio includes treatment options for a variety of Â  allergens, some of which can be potentially life-threatening Â  (e.g. anaphylaxis, venom immunotherapy). An adrenaline Â  autoinjector is indicated in the emergency treatment of severe Â  acute allergic reactions (anaphylaxis) to insect stings or bites, Â  foods, drugs and other allergens as well as idiopathic or exer- Â  cise anaphylaxis. Similarly, ALKâs venom immunotherapy can Â  help patients who are highly allergic to stings from insects. Â  For both cases, ALK enhances the personal safety of its end- Â  users by providing effective treatment options and can turn a Â  life-threatening condition into a non-life-threatening issue. For Â  other allergies like house dust mites and grass and tree pollen, Â  the treatment improves the quality of life of the patient. Â  These actual positive impacts are concentrated in ALK's down- Â  stream value chain, occur in the short, medium and long term Â  and are linked to ALK's own activities. Â  Impact Â  Barriers to access Â  ALK is committed to providing more effective help to a greater Â  number of people with allergies and implements its allergy Â  care principles globally to ensure broad access. However, ALK Â  products need to be prescribed by a healthcare professional. Â  Currently, allergy treatment is not necessarily considered a Â  priority topic by all healthcare systems, leading to a barrier to Â  access to allergy care for the patient. This can have a consider- Â  able negative impact on patients who are unlikely to receive ALK Â  medicines from an allergy specialist. Â  ALK aims to price its treatments fairly and competitively, and Â  affordability for patients is often supported by public and/or Â private health insurance and reimbursement schemes offered Â  by authorities. However, without access to public health provi- Â  sions or insurance, some patient groups who could benefit from Â  allergy treatment may not be able to afford it. Â  In markets such as the USA with private healthcare, hospital Â  doctors and general practitioners are paid based on the Â  services provided, leading them to favour giving injections over Â  prescribing tablets. The structure of the healthcare system Â  can therefore disincentivise doctors to prescribe the cheaper Â  allergy tablets and favour potentially suboptimal and more Â  expensive treatments such as injections. Â  The barriers to treatment access represent systemic actual Â  negative impacts. They occur in ALKâs downstream value chain Â  and recur every year. ALK is indirectly impacting the patients. Â  Impact Â  Patient safety Â  Allergy treatments are effective in most cases but not all. If the Â  treatment proves ineffective, alternative options are limited, Â  leaving individuals without the potential life-changing benefits Â  of ALK products. This creates an actual negative impact, which Â  directly compromises the well-being and safety of individuals Â  relying on those treatments. Â  The impact is concentrated in ALK's downstream value chain, Â  arises from ALK's own activities as individual and isolated Â  events, and occurs in the short, medium and long term. Â  Opportunity Â  Climate change and respiratory health Â  Climate change directly threatens respiratory health by Â  extending pollen seasons, increasing airborne allergens, and Â  altering the distribution and abundance of allergenic plants. Â  Global warming also leads to higher humidity, creating favour- Â  able conditions for mould growth and potentially higher allergen Â  exposure. Addressing climate change is thus an environmental Â  imperative with significant social and public health dimensions. Â  Climate-induced species migration introduces new types of Â  pollen and allergens to regions that were previously unaffected, Â  presenting new market opportunities for ALK through emerging Â  allergies. The increased length and severity of pollen seasons Â  expand the potential market size for ALK, as more individuals Â  have prolonged and intensified allergy symptoms. Spikes in Â  allergen concentrations can also trigger reactions in a larger Â  segment of the population by exceeding their individual toler- Â  ance levels. Â  This potential opportunity is concentrated in ALK's own opera- Â  tions, it would not be related to specific groups of consumers or Â  end-users, and is expected to happen over the long term. ALK Â  has indirect control over this opportunity which would benefit Â  its own operations. Specific financial effects have not yet been Â  identified. Â  S4-1 Â  Policies related to consumers and end-users Â  ALKâs Access to Medicines Policy sets out the companyâs ambi- Â  tion to reach more patients. The policy focuses on three key Â  principles: improving quality of life through better treatment Â  options and earlier diagnosis, supporting healthcare systems Â  with training and education on allergy care, and forming part- Â  nerships for broader access. The policy is continually reviewed Â  by the ELT to ensure alignment with the overall strategy of the Â  ALK Group. Reporting is done through ALK's website and annual Â  report, ensuring transparency and accountability. Â  The oversight, accountability and responsibility for the imple- Â  mentation of ALK's Access to Medicines Policy rests with the Â  Board of Directors, which has delegated this responsibility to Â  the ELT. Â  The policy covers both people with allergy and healthcare Â  professionals and relates to material impacts related to access Â  treatment and access barriers. Â  The pharmaceutical industry is heavily regulated, with human Â  rights topics like the right to health and informed consent in clin- Â  ical trials already embedded in legislation. Therefore, ALK does Â  not have specific consumer policies aligned with the UN Guiding Â  Principles of Business and Human Rights. Â  External stakeholders with a business-related connection to Â  ALK can report potential human rights impacts through the Â  Alertline (Â see G1 on page 89). Â S4-2 Â  Processes for engaging with consumers Â  and end-users about impacts Â  See ESRS 2-SBM2 on pages 39-40. Â  S4-3 Â  Processes to remediate negative Â  impacts and channels for consumers Â  and end-users to raise concerns Â  ALK works closely with doctors, pharmacists, and other health- Â  care professionals to ensure they have the necessary informa- Â  tion to advice patients. Â  Furthermore, ALKâs digital universe empowers people to proac- Â  tively manage their allergies by offering information and guid- Â  ance on how to avoid or alleviate symptoms and seek treatment. Â  In addition to reaching patients through its digital platforms, Â  ALK engages systematically in educational activities, training Â  and dialogue with healthcare professionals to elevate the Â  standard of care in allergy diagnosis and treatment. Much of Â  the engagement is done digitally to enable ALK to reach more Â  healthcare professionals within a shorter time and reduce Â  the climate impact of travelling to physical meetings. ALKâs Â  approach to engaging with healthcare professionals also Â  encompasses collaboration with patient organisations across Â  the globe to raise awareness around patient care and product Â  safety. Â  In the ongoing efforts to develop innovative, effective treat- Â  ments for allergies, ALK conducts clinical trials in close collabo- Â  ration with authorities, healthcare professionals, scientists and, Â  most critically, patients. ALK upholds safety, privacy, ethics and Â  respect through every phase of the clinical trials and adheres Â  to the Principles for Responsible Clinical Trial Data Sharing from Â  the European Federation of Pharmaceutical Industries and Â  Associations (EFPIA) and the Pharmaceutical Research and Â  Manufactures of America (PhRMA). In this way, ALK ensures that Â  clinical trial data is used responsibly and transparently, safe- Â  guarding patient privacy and respecting the integrity of national Â  regulatory systems that protect proprietary information. Â  Rigorous industry regulations ensure that safety data from Â  any source, including clinical trials, healthcare professionals Â  or patients, is collected and analysed systematically by ALK's Â  global pharmacovigilance team. This ensures that the safety Â  profile of the products is optimised for the benefit of the patient Â  and that the relevant authorities can be made aware of any Â  safety issue in order to facilitate immediate action. Â  Patients are informed of how they can contact ALK to report Â  potential side effects in the leaflets for all products. Â  External stakeholders with a work-related connection to ALK Â  can raise their concerns through the whistleblower platform ALK Â  Alertline, which is described in detail inÂ G1 on page 89. Â S4-4 Â  Taking action on material impacts on Â  consumers and end- users, and approaches to Â  managing material risks and pursuing material Â  opportunities related to consumers and end- Â  users, and effectiveness of those actions Â  Helping more people with allergies is at the core of ALKâs Â  + Allergy strategy.Â ALK will prioritise and focus its commercial Â activities to strengthen its global leadership in respiratory aller- Â  gies including targeted expansion of the sublingual immuno- Â  therapy tablets to new patient groups and geographies, digital Â  mobilisation and investments in high impact markets. Â  Information about actions taken, planned and underway to address Â  material impacts and opportunities, according to S4-4, is incorporated Â  + by reference to the sections "Strategy progress: Review of AllergyÂ imple- Â mentation", on pages 10-11, and "Expanding the addressable markets" of Â Business and strategy, on pages 16-17. Â S4-5 Â  Targets related to managing material negative Â  impacts, advancing positive impacts, and Â  managing material risks and opportunities Â  ALK aims to help 5 million allergy patients by 2030 to advance its Â  positive impact and opportunity. The target covers ALKâs down- Â  stream activities in the countries where ALK operates Â  ( see "ALK at a glance" on page 5). Â In 2024, ALK reached an estimated 2.6 million patients in treat- Â  ment, as a result of its commercial activities. Â  Although ALK has previously had the need to establish specific Â  external targets, it will assess the potential necessity for addi- Â  tional targets related to access barriers and patient safety in Â  2025. Â  ALK has not engaged directly with patients or their represent- Â  atives on the target setting, but information has been obtained Â  indirectly through market insights. Â  Accounting policies â Social information Â  The numeric datapoints reported are verified through Â  internal controls, analysis, benchmarks, and regular Â  business meetings. External auditors provide limited Â  assurance on 2024 metrics, but they are not validated by Â  another external body. N/A is used when data was not Â available at the time of the reporting and could not be Â  retrieved. Â  Own workforce Â  Workforce is defined as all ALK employees who are on Â  payroll as of 31 December 2024, both full-time and part- Â  time, as well as active and non-active. The numbers are Â  reported in headcount as of end of reporting period. Â  S1-6 Â  Characteristics of the undertakingâs employees Â  Permanent employees are determined as employees Â  whose employment contract is without a specified Â  end-date. Temporary employees are determined as Â  employees whose employment contract is with specified Â  end-date. Non-guaranteed hours employees are deter- Â  mined as employees employed by ALK without a guar- Â  antee of a minimum or fixed number of working hours. Â  The employee may need to make themselves available Â  for work as required, but ALK is not contractually obli- Â  gated to offer the employee a minimum or fixed number Â  of working hours per day, week, or month. Â  For any employee-related metrics, headcount meas- Â  ures are used. The measures are extracted from the HR Â  systems. The numbers are reported in headcount as of Â  end of reporting period. Â  For reporting by gender, the following descriptions are Â  used: âMaleâ, âFemaleâ, and âEmployee chooses not to Â self-identify'. Â  For breaking down per countries, countries with less Â  than 50 employees are classified as âother countriesâ. Â When reporting by geographical areas, regions are Â  broken down into North America (USA, Canada), Asia Â  (China, Russia, Jordan, Turkey), and Europe (Denmark, Â  France, Spain, Germany, Poland, Netherlands, Sweden, Â  Slovakia, United Kingdom, Austria, Switzerland, Norway, Â  Italy, Belgium, Czech Republic, Finland, Ireland). Â  Employee turnover Â  Employee turnover is defined by the number of Â  employees leaving ALK during the period. The turnover Â  is a total of voluntary and involuntary terminations. Â  The employee turnover ratio is calculated by dividing Â  the number of employees who left ALK by the average Â  number of employees in the reporting year. The Â  employees included in the calculation are all permanent Â  employees and inactive employees on garden leave. Â  Due to local regulations, temporary employees located Â  in Poland and China are also included, as a temporary Â  contract is required before transitioning to permanent Â  status. Â  S1-16 Â  Remuneration metrics Â  Gender pay gap (significant estimate) Â  Gender pay gap is defined as the difference of average Â  base pay levels between male and female employees, Â  relative to the average annual pay of male employees. Â  Average gross annualised earnings are used in this Â  calculation due to limited data availability for hourly pay Â  levels. The use of estimates for this datapoint is consid- Â  ered significant. Â  CEO annual compensation ratio Â  CEO annual compensation is determined by the annual Â  total compensation of the CEO against the median annual Â  total compensation for all full-time active (permanent Â  and temporary) employees, excluding the CEO. Annual Â  total compensation includes salary, bonus, allowances, Â  pension, and all one-time payments over the course of Â  a year. Â  S1-13 Â  Training and skills development metrics Â  A regular performance review is defined as a review Â  based on criteria known to the employee and his or her Â  superior undertaken with the knowledge of the employee Â  at least once per year. The review can include an evalua- Â  tion by the employeeâs direct superior, peers, or a wider Â  range of employees. Â  Employee engagement Â  Participation rate and engagement score are collected Â  from a survey conducted by a third party. Â  S1-14 Â  Health and safety metrics Â  Work-related incidents are reported to Global Environ- Â  ment, Health and Safety. Work-related accidents are Â  defined as unplanned events that result in injury, with or Â  without absence. The number of accidents is reported Â  per site on a monthly basis. The rate of work-related Â  accidents is calculated as Lost Time Injury Frequency Â  Rate (LTIFR). It measures the number of accidents with Â  absence multiplied by million, divided by total working Â  hours during a single financial year. A lost-time injury is Â  a work-related injury that results in time lost from work Â  ordered by a medical professional person. Â  Fatalities are the number of employees who lost their Â  lives as a result of a work-related incident. Â  Consumers and end-users Â  Number of patients in treatment (significant estimate) Â  Due to the absence of comprehensive data sources across Â  all markets, it is not possible to directly and specifically Â  measure the number of patients treated with ALK prod- Â  ucts. Patient numbers are estimated using various data Â  sources, an in-house Patient Model and insurance claims Â  data, while applying several assumptions, which leads to Â  a certain level of uncertainty. The use of estimates for this Â  datapoint is considered significant. Â  When a more precise method is not available, units sold Â  ex-factory are converted to treatment years per patient Â  using a treatment years conversion factor. This estima- Â  tion is adjusted based on market and patient research Â  from various countries, applying an adherence rate and Â  a co-administration rate across products and coun- Â  tries to prevent e.g. double counting patients receiving Â  multiple types of allergy immunotherapy treatments Â  (AIT) simultaneously. Â  When available, more precise methods are tailored to Â  specific product groups as follows: Â  For SLIT-drops in most markets, anonymized data and Â  unique patients counted based on prescription data are Â  used. Â  For SLIT-tablets in most markets, data is based on Â  the in-house Patient Model. The Patient Model uses Â  in-market units sales data and where possible new Â  patient data to convert to patients in treatment. Actual Â  in-market sales and patient data are used for two-thirds Â  of the year, while the remaining portion is forecasted. A Â  co-administration rate is applied to tablet patients. Â  In North America, ALK sells bulk allergen extracts to Â  healthcare professionals who prepare the allergy shots Â  using various and unspecified dosing schedules. To esti- Â  mate the number of patients receiving AIT, a commercial Â  claims database is used. Extrapolation of the patient Â  number to USA population is done using the ratio of Â  database coverage to the total USA population. To obtain Â  the number of patients on AIT, an estimated market Â  share is applied. Given that commercial claims data have Â  a 14-16-month time lag, the extrapolation to the current Â  year is done by applying a discounted revenue growth Â  from the time of data extraction to the current year. Â  For the Auto Adrenaline Injector (AAI), following official Â  recommendations, the number of sold pens is dividedÂ by Â 2 to reflect the assumption that each patient carries two Â  pens at a time. Â  Governance Â  information Â  G1 Business conduct Â  ESRS G1 Â  Location in Â  Time Â  the value chain Â  horizon Â  Impacts, risks and Â  opportunities Â  G1 Business conduct Â  IRO Â  Animal welfare Â  Actual negative impact Â  â â â â Potential bribery of healthcare professionals Â  Risk Â  â â Information about Corporate governance can be found on page 28. Â  ESRS G1 Â  Animal Welfare Â  ESRS 2-SBM3 Â  Material impacts, risks and opportunities and their Â  interaction with strategy and business model Â  Impact Â  Animal welfare Â  When developing new treatments, ALK conducts tests on animals Â  to ensure that patients receive safe and effective medicines. Â  ALK only uses animals for research purposes when alternative Â  models do not provide the data necessary to evaluate the treat- Â  ment. ALK conducts regular experiments on animals through Â  allergen injections on mice in its own internal R&amp;D facilities. Â  Within ALK's own operations, the negative impact on the animals Â  is from the injections, and also from keeping them in captivity Â  and euthanising them after the experiments are finished. This Â  impact occurs over the short, medium and long term. Â  To mitigate this impact, ALK selects professional, well- Â  recognised and accredited suppliers, adhering to the guidelines Â  from the Federation of European Laboratory Animal Science Â  Associations (FELASA). Â  G1-1 Â  Business conduct policies and corporate culture Â  Animal welfare Â  ALK ensures compliance with local regulations related to animal Â  welfare. As a result, ALK has not previously identified the need Â  for a centralised global policy on animal welfare. However, it is in Â  the process of developing a global animal welfare policy sched- Â  uled for implementation by 2025, which will be approved by the Â  governance bodies. Â  ESRS G1 Â  Corruption and bribery Â  ESRS 2-SBM3 Â  Material impacts, risks and Â  opportunities and their interaction Â  with strategy and business model Â  Risk Â  Potential bribery of healthcare Â  professionals Â  The pharmaceutical industry faces risks Â  associated with bribery and corruption, Â  particularly in the context of employeesâ Â  interactions with healthcare professionals Â  (HCPs). The main risk of corrupt behaviour for Â  ALK concerns potential bribery of healthcare Â  professionals, i.e., using improper influence Â  over HCPs to increase ALKâs sales and cash Â  f low. Â  An incident of such corrupt behaviour could Â  have significant legal, reputational and finan- Â  cial repercussions. This risk arises in ALKâs Â  downstream value chain over the short term. Â  There are no current financial effects, nor any Â  significant risk of material adjustment for next Â  year. This risk is mitigated through the regular Â  training of all employees on ALKâs Code of Â  Conduct. Â  G1-1 Â  Business conduct policies Â  and corporate culture Â  Code of Conduct Â  ALK's approach to business conduct is Â  grounded in a comprehensive framework Â  of policies centred on its Code of Conduct. Â  The Code of Conduct, applicable to all ALK Â  employees, sets the tone for business integrity Â  and ALKâs ethical principles. It affirms ALK's Â  commitment to upholding human rights, safe- Â  guarding confidential business information, Â  and promoting zero-tolerance for corruption Â  and fraud. The Executive Leadership Team Â  (ELT) is responsible for oversight of the Code of Â  Conduct. Â  ALK has not developed specific global policies Â  on business conduct training, as the ALK Policy Â  for Anti-Corruption already includes a general Â  commitment to train employees, and business Â  conduct training is administered in practice Â  ( see "Training and awareness" on page 90). Â ALKâs Code of Conduct is complemented Â  by additional policies on business conduct Â  matters, which also apply to all ALK employees Â  and are publicly accessible on the ALK Â  website. Â  Whistleblowing Policy Â  The Code of Conduct is supplemented by Â  specific policies, such as the Whistleblowing Â  Policy, which defines the organisation and Â  processes in place to ensure that ethical Â  concerns are treated seriously and appro- Â  priately; it includes the standards for inves- Â  tigating such cases and protecting whistle- Â  blowers. The policy includes a non-retaliation Â  commitment to protect any employee or stake- Â  holder who raises a concern in good faith. Â  The ALK Audit Committee has the overall Â  responsibility for the Whistleblowing Policy, Â  and for reviewing the effectiveness of actions Â  taken in response to concerns raised under the Â  policy. The Corporate Affairs &amp; Legal depart- Â  ment has day-to-day operational responsi- Â  bility for the policy. Â  Policy for Anti-Corruption Â  With regard to the risk of potential bribery of Â  healthcare professionals, the ALK Policy for Â  Anti-Corruption addresses compliance with Â  general anti-bribery and anti-corruption Â  legislation, as well as industry-specific stand- Â  ards covering interactions with healthcare Â  professionals. It is consistent with the United Â  Nations Convention against Corruption. Â  The Board of Directors is responsible for Â  ensuring that the policy complies with appli- Â  cable laws, while managers are responsible Â  for implementing the policy at all levels. Â  Third-Party Code of Conduct Â  In parallel with this, expectations for business Â  partners are outlined in the Third-Party Code Â  of Conduct, which applies to ALKâs upstream Â  and downstream value chain. ALKâs Whistle- Â  blowing Policy also applies to external stake- Â  holders. Â  Details on the Third-Party Code of Conduct are Â  provided in S2-1 on pages 81-82. Â  ESRS G1 Â  Channels to raise concerns Â  ALK Alertline Â  ALK has established a whistleblowing system: Â  ALK Alertline, which is accessible to internal Â  and external stakeholders. The company's Â  own workforce, value chain workers and other Â  external stakeholders with a work-related Â  connection to ALK can use the ALK Alertline Â  to raise and report serious and sensitive Â  concerns, including reasonable suspicions Â  of breaches of ALKâs Code of Conduct, anti- Â  corruption laws, and laws within the scope of Â  the EU Whistleblower Protection Directive. Â  ALK Alertline is confidential and offers the Â  option of anonymous reporting, as a protec- Â  tive measure against retaliation. Available by Â  phone or online in eight languages, ALK Alert- Â  line is accessible via ALK's intranet and on its Â  public websites. Â  Reports are entered directly into an inde- Â  pendent companyâs secure server. Corporate Â  Affairs &amp; Legal manages the access, and Â  the reports are made available only to pre- Â  appointed individuals within ALK who are Â  responsible for evaluating reports. Â  The monitoring and tracking of registered reports are Â  described below under G1-3 on page 89. Â The non-retaliation commitment is specified under Â  G1-1 on page 88. Â  ALK assesses awareness and trust in the Â  processes for raising concerns by including Â  questions in the annual engagement Â  survey about employees' confidence in ALK Â  addressing serious misconduct and the impor- Â  tance managers place on employee well- Â  being. Â  In addition to ALK Alertline, employees Â  are encouraged to speak up and raise any Â  concerns through ordinary management Â  channels. ALK launched manager training Â  in 2024 on how to recognise and respond to Â  whistleblower reports. This training includes Â  a section stressing reporter protections, Â  including against retaliation. Â  ESRS G1 Â  Whistleblowing and anti-corruption system Â  Incidents of bribery and corruption Â  Unit Â  2024 Â  Convictions for violation of anti-corruption and bribery laws Â  # - Fines for corruption and bribery convictions Â  DKKm Â  - G1-3 Â  Prevention and detection of Â  corruption and bribery Â  G1-4 Â  Incidents of corruption or bribery Â  ALK takes a zero-tolerance approach to Â  corruption and bribery. In addition to ALK Â  Alertline, financial control systems act to Â  prevent and detect any corruption and Â  bribery events. Â  Should an allegation of corruption or Â  bribery be made through ALK Alertline, Â  the ensuing investigation is governed by Â  ALKâs Compliance Investigations Process. Â  Each case is overseen by an investigation Â  supervisor. This may be the Vice President, Â Corporate Affairs &amp; Legal or their designee, Â  usually within the Legal or Compliance func- Â  tions. Where appropriate due to specific Â  allegations in a report, an investigation Â  supervisor independent from the chain of Â  management will oversee the case: either Â  external legal counsel, or the Chair of the Â  Audit Committee. Â  The Chair of the Audit Committee is noti- Â  fied of reports concerning corruption and Â  is responsible for deciding whether to Â  approve case recommendations. Corpo- Â  rate Affairs &amp; Legal also updates the Audit Â  Committee on an annual basis on all ALK Â  Alertline activities for the past year. Â In 2024, ALK had no convictions or related Â  fines for violations of anti-corruption and Â  anti-bribery laws. Â  ESRS G1 Â  Training and awareness Â  Code of Conduct training Â  Unit Â  2024 Â  Functions-at-risk Code of Conduct training completion Â  % 99% Â  G1-3 Â  Prevention and detection of corruption Â  and bribery Â  G1-4 Â  Incidents of corruption or bribery Â  Training and awareness activities are Â  essential for fostering a culture of integrity Â  and creating a common understanding of Â  what is expected from ALKâs employees. Â  All new hires are required to confirm that Â  they agree to act in accordance with the Â  Code of Conduct. Online training on the Code Â  of Conduct is also rolled out annually for all Â  employees. It includes all ELT members and Â  ALK employee representatives serving on the Â  Board of Directors. Â  The training covers relevant business conduct Â  topics including anti-corruption, ALK Alertline, Â  communications, promotion &amp; social media, Â  competition law, conflicts of interest, political Â  contributions, human rights, interaction with Â  healthcare professionals, IT security, patient Â  safety, and data privacy. Â  Employees who interact directly with health- Â  care professionals have been identified as Â  being at higher risk with regard to corruption Â  and bribery. In ALK, these are to be found in Â  commercial operations and medical affairs Â  functions. Among ALK employees in such Â  functions, 99% completed the global Code of Â  Conduct e-learning course in 2024. Additional Â  targeted training is offered at local level to Â  these employees in these functions, to cover Â  specific compliance matters such as promo- Â  tional activities and interactions with health- Â  care professionals. As 2024 is the first year of Â  reporting of functions-at-risk, ALK does not Â  have a specific target on completion rate of Â  functions-at-risk Code of Conduct training. Â  S1-17 Â  Incidents, complaints and severe human rights impacts Â  ALK Alertline and human rights incidents Â  Unit Â  2024 Â  ALK Alertline Â  Work-related discrimination reports registered on Alertline Â  # 1 Reports of other work-related complaints Â  # 3 Amount of fines, penalties and compensation for damages as Â  a result of work-related complaints Â  DKKm Â  - Severe human rights incidents Â  Severe human rights incidents Â  # - Amount of fines, penalties, and compensation for damages Â  for severe human rights incidents Â  DKKm Â  - In 2024, ALK was not liable for any fines, Â  penalties, or compensation for damages as Â  a result of work-related Alertline reports or Â  severe human rights incidents. Therefore, no Â  related amounts have been accounted for in Â  the financial statements. Â  Accounting policies â Governance information Â  The numeric datapoints reported are verified through Â  internal controls, analysis, benchmarks, and regular Â  business meetings. External auditors provide limited Â  assurance on 2024 metrics, but they are not validated by Â  another external body. Â  Business conduct Â  S1-17 Â  Incidents, complaints and severe human rights Â  impacts Â  ALK Alertline is the companyâs whistleblower system, Â  which can be used to report serious and sensitive Â  concerns - including serious offenses against persons Â  such as discrimination. Â  Work-related complaints and reports refer to allegations Â  registered on Alertline which involve ALKâs own work- Â  force. Severe human rights incidents refer to substanti- Â  ated incidents of human rights violations pertaining to Â  ALKâs own workforce. Â  Fines, penalties and compensation for damages are âas Â  a resultâ of allegations and complaints only when such Â  allegations and complaints are substantiated and undis- Â  puted. They are reported in the reporting year when they Â  are imposed and final (i.e., the amount is no longer under Â  appeal or in dispute). Â  G1-4 Â  Corruption and bribery Â  Bribery can take the form of money, gifts, loans, fees, Â  hospitality, services, discounts, the award of a contract Â  or any other advantage or benefit, and it comprises any Â  financial or other inducement or reward for an action Â  which is illegal, unethical, a breach of trust or improper Â  in any way. Corruption is defined as abuse of entrusted Â  power by someone for personal gain. Â  For purposes of the reporting, convictions in scope are Â  final decisions or acts by courts of law, which constitute Â  criminal convictions under applicable local law in the Â  jurisdiction where the decision or act takes place. As Â  required by the ESRS, only convictions where ALK or its Â  employees are directly involved are considered within Â  scope. Fines relating to such convictions are reported in Â  the reporting year when they are imposed and final (i.e., Â  no longer under appeal or in dispute). Â  G1-3 Â  Prevention and detection of corruption and bribery Â  âPercent of functions at risk covered by training Â  programsâ refers to the percentage of Code of Conduct Â  e-learning completion for employees in commercial Â  operations or medical affairs. The Code of Conduct Â  e-learning course was rolled out between March and Â  May 2024. Â  Incorporation by reference Â  The table below provides an overview of information incorporated by reference as part of other Â  sections of this annual report, by stating the datapoint code beneath the relevant header, which Â remains applicable until the next header of the same level. When the datapoint applies to a Â  specific part of a section, the datapoint code is cited in a footnote. Â  Disclosure Â  Requirement DisclosureÂ Requirement Â Disclosed Â  Disclosed Â  code Â  name Â  Datapoint code Â  in section Â  on page Â  ESRS 2-BP2 Â  Disclosures in relation to Â  ESRS 2-BP2-16 Â  Incorporation Â  92-93 Â  specific circumstances Â  by reference Â  ESRS 2-GOV1Â The role of the Â ESRS 2-GOV1-21a Â  Corporate Â  28-29 Â  administrative, Â  governance Â  management and Â  ESRS 2-GOV1-21b Â  Corporate Â  28-29 Â  supervisory bodies Â  governance Â  ESRS 2-GOV1-21c Â  Board of Direc-Â 33-34 Â tors Â  ESRS 2-GOV1-21d Â  Corporate Â  28-29 Â  governance Â  ESRS 2-GOV1-21e Â  Corporate Â  28-29 Â  governance Â  ESRS 2-GOV1-23 Â  Corporate Â  29 Â  governance Â  ESRS 2-GOV1-23a Â  Corporate Â  29 Â  governance Â  ESRS 2-GOV1-23b Â  Corporate Â  29 Â  governance Â  ESRS 2-GOV3Â Integration of sustainability-Â All data points Â Corporate Â  30 Â  related performance in Â  governance Â  incentive schemes Â  ESRS 2-GOV4Â Statement on due diligence Â ESRS 2-GOV4-32 Â  Core elementsÂ 94-95 Â of due diligence Â  Disclosure Â  Requirement DisclosureÂ Requirement Â Disclosed Â  Disclosed Â  code name Â  Datapoint code Â  in section Â  on page Â  ESRS 2-SBM1Â Strategy, business model Â ESRS 2-SBM1-40 Â  Sales and Â  19 Â  and value chain Â  market trends Â  ESRS 2-SBM1-40a.iÂ Sales and Â 19 Â  market trends Â  ESRS 2-SBM1-40a.iiÂ Sales and Â 19 Â  market trends Â  ESRS 2-SBM1-40a.iiiÂ ALK at a glance Â 5 ESRS 2-SBM1-40e Â  Introduction to Â  9 + Allergy Â  ESRS 2-SBM1-40f Â  Sales and Â  19 Â  market trends Â  ESRS 2-SBM1-40g Â  Expanding theÂ 16-17 Â addressable Â  markets Â  ESRS 2-SBM1-42 Â  Business model Â  6 ESRS 2-SBM1-42a Â  Business model Â  6 ESRS 2-SBM1-42b Â  Business model Â  6 ESRS 2-SBM1-42c Â  Business model Â  6 ESRS 2-IRO2Â Disclosure Requirements Â ESRS 2-IRO2-56 Â  Content index ofÂ 96-105 Â in ESRS covered by Â  ESRS disclosure Â  the undertakingâs Â  requirements; Â  sustainability statement Â  List of data- Â  points that Â  derive from Â  other EU legis- Â  lation Â  E1-GOV3 Â  Integration of sustainability-Â E1-GOV3-13 Â Corporate Â  30 Â  related performance in Â  governance Â  incentive schemes Â  E1-3 Â  Actions and resources in Â  E1-3-29c.i Â  Income state- Â  107; 123 Â relation to climate change Â  ment Â  policies Â  Disclosure Â  Requirement DisclosureÂ Requirement Â Disclosed Â  Disclosed Â  code Â  name Â  Datapoint code Â  in section Â  on page Â  S1-6 Â  Characteristics of the Â  S1-6-50f Â  Staff costs Â  116 Â  undertakingâs employees Â  S4-4 Â  Taking action on material Â  All data points Â  Strategy Â  10 -11; 16-17 Â impacts on consumers and Â  progress; Â  end- users, and approaches Â  Expanding the Â  to managing material risks Â  addressable Â  and pursuing material Â  markets Â  opportunities related to Â  consumers and end-users, Â  and effectiveness of those Â  actions Â  G1-GOV1 Â  The role of the adminis- Â  G1-GOV1-5a Â  Corporate Â  29 Â  trative, management and Â  governance Â  supervisory bodies Â  G1-GOV1-5b Â  Corporate Â  29 Â  governance Â  Phased-in Disclosure Requirements Â  Disclosure Â  Requirement / Â  Datapoint code Â  Disclosure RequirementÂ / Datapoint name Â ESRS 2-SBM3-48e Â  Anticipated financial effects Â  E1-9 Â  Anticipated financial effects from material physical and transition risks Â  and potential climate-related opportunities Â  S1-7 Â  Characteristics of non-employees in the undertakingâs own workforce Â  S1-13-83b Â  Average training time per employee and by gender Â  S1-14-88d Â  Cases of work-related illness Â  S1-14-88e Â  Lost time due to work-related injuries, fatalities and illness Â  Core elements of due diligence Â  The table below maps the core elements of ALK's due diligence process, cross-referencing the impacts Â  on people and the environment with the relevant disclosures in the sustainability statement. Â  ESRS 2-GOV4 Â  Statement on due diligence Â  Does the disclosure Â  Core elements of Â  Pages in the sustainability Â  relate to people and/or Â Due Diligence Â  statement Â  the environment? Â  a) Embedding due diligence Â  ESRS 2 GOV-2, pages 37-38 Â  People and environment Â  in governance, strategy and Â  ESRS 2 GOV-3, pages 38 Â  People and environment Â  business model Â  ESRS 2 SBM-3, pages 44-48 Â  People and environment Â  ESRS 2 SBM-3-E1, page 50 Â  Environment Â  ESRS 2 SBM-3-E2, page 56 Â  ESRS 2 SBM-3-E3, page 58 Â  ESRS 2 SBM-3-E4, page 61 Â  ESRS 2 SBM-3-E5, pages 63-64 Â  ESRS 2 SBM-3-S1, pages 74-75; 79 Â People Â  ESRS 2 SBM-3-S2, page 81 Â  ESRS 2 SBM-3-S4, pages 83-84 Â  ESRS 2 SBM-3-G1, pages 87-88 Â  People and environment Â  Does the disclosure Â  Core elements of Â  Pages in the sustainability Â  relate to people and/or Â Due Diligence Â  statement Â  the environment? Â  b) Engaging with affected Â  ESRS 2 GOV-2, pages 37-38 Â  People and environment Â  stakeholders in all key steps of Â  ESRS 2 SBM-2, pages 39-40 Â  People and environment Â  the due diligence Â  ESRS 2 IRO-1, pages 41-43 Â  People and environment Â  ESRS 2 MDR-P: Â  Environment Â  E1-2, page 51 Â  E2-1, page 57 Â  E3-1, page 59 Â E4-2, page 62 Â  E5-1, page 64 Â ESRS 2 MDR- P: Â  People Â  S1-1, pages 75; 79 Â S2-1, pages 81-82 Â  S4-1, page 84 Â S1-2, pages 75-76 Â  People Â  S2-2, page 82 Â  Does the disclosure Â  Core elements of Â  Pages in the sustainability Â  relate to people and/or Â Due Diligence Â  statement Â  the environment? Â  c) Identifying and assessing Â  ESRS 2 IRO-1, pages 41-43 Â  People and environment Â  adverse impacts Â  ESRS 2 SBM-3, pages 44-48 Â  People and environment Â  ESRS 2 SBM-3-E1, page 50 Â  Environment Â  ESRS 2 SBM-3-E2, page 56 Â  ESRS 2 SBM-3-E3, page 58 Â  ESRS 2 SBM-3-E4, page 61 Â  ESRS 2 SBM-3-E5, pages 63-64 Â  ESRS 2 SBM-3-S1, pages 74-75; 79 Â People Â  ESRS 2 SBM-3-S2, page 81 Â  ESRS 2 SBM-3-S4, pages 83-84 Â  ESRS 2 SBM-3-G1, pages 87-88 Â  People and environment Â  d) Taking actions to address Â  ESRS 2 MDR-A: Â  Environment Â  those adverse impacts Â  E1-3, page 51 Â  E2-2, page 57 Â  E3-2, page 59 Â  E4-3, page 62 Â  E5-2, page 64 Â  ESRS 2 MDR-A: Â  People Â  S1-4, pages 76; 80 Â S2-4, page 82 Â  S4-4, page 85 Â  E1-1, page 49 Â  Environment Â  E4-1, page 61 Â  G1-1, pages 87-88 Â  People and environment Â  G1-3, pages 89-90 Â  Does the disclosure Â  Core elements of Â  Pages in the sustainability Â  relate to people and/or Â Due Diligence Â  statement Â  the environment? Â  e) Tracking effectiveness of Â  ESRS 2 MDR-M: Â  Environment Â  these efforts and communi- Â  E1-5, page 55 Â  cating Â  E1-6, pages 53-54 Â  E2-5, page 57 Â  E3-4, page 60 Â  E5-4, page 65 Â  E5-5, pages 65-66 Â  ESRS 2 MDR-M: Â  People Â  S1-13, page 78 Â  S1-14, page 80 Â  S1-16, page 78 Â  S1-17, pages 80; 90 Â G1-4, pages 89-90 Â  People and environment Â  E1-4, page 52 Â  Environment Â  E2-3, page 57 Â  E3-3, page 60 Â  E4-4, page 62 Â  E5-3, page 65 Â  S1-5, page 76 Â  People Â  S2-5, page 82 Â  S4-5, page 85 Â  Content index of ESRS disclosure requirements Â  The table below presents the disclosure requirements from ESRS 2 and the nine topical standards relevant to Â  ALK and indicates where to find information related to each specific requirement. Â  ESRS 2-IRO2 Â  Disclosure Requirements in ESRS covered by the undertakingâs sustainability statement Â  List of material Disclosure Requirements Â  Page number Â  ESRS 2 Â  General Disclosures Â  BP-1 Â  General basis for preparation of the sustainability statement Â  36 Â  BP-2 Â  Disclosures in relation to specific circumstances Â  36; 54; 60; 78; 85; Â 92-93 Â  GOV-1 Â  The role of the administrative, management and supervisory Â  28-29; 33-34; Â bodies Â  37-38 Â  GOV-2 Â  Information provided to and sustainability matters addressed by Â  37-38 Â  the undertakingâs administrative, management and supervisory Â  bodies Â  GOV-3 Â  Integration of sustainability-related performance in incentive Â  30; 38 Â schemes Â  GOV-4 Â  Statement on due diligence Â  38; 94-95 Â GOV-5 Â  Risk management and internal controls over sustainability Â  38 Â  reporting Â  SBM-1 Â  Strategy, business model and value chain Â  5; 6; 9; 16-17; 19; Â 39 Â  SBM-2 Â  Interests and views of stakeholders Â  39-40 ; 41-43 Â SBM-3 Â  Material impacts, risks and opportunities and their interaction with Â  44-48; 50; 56; 58; Â strategy and business model Â  61; 63; 74-75; 79; Â 81; 83-84; 87-88 Â IRO-1 Â  Description of the processes to identify and assess material Â  41-43 Â  impacts, risks and opportunities Â  IRO-2 Â  Disclosure Requirements in ESRS covered by the undertakingâs Â  42; 48; 96-105 Â sustainability statement Â  List of material Disclosure Requirements Â  Page number Â  E1 Â  Climate change Â  ESRS 2 Â  Integration of sustainability-related performance in incentive Â  30 Â  GOV-3-E1 schemes Â E1-1 Â  Transition plan for climate change mitigation Â  30; 49; 51 Â ESRS 2 Â  Material impacts, risks and opportunities and their interaction with Â  50; 84 Â SBM-3-E1 strategy and business model Â ESRS 2 Â  Description of the processes to identify and assess material Â  41 Â  IRO-1-E1 Â  climate-related impacts, risks and opportunities Â  E1-2 Â  Policies related to climate change mitigation and adaptation Â  51 Â  E1-3 Â  Actions and resources in relation to climate change policies Â  51; 53-54; 107; 123 Â E1-4 Â  Targets related to climate change mitigation and adaptation Â  51-52 Â  E1-5 Â  Energy consumption and mix Â  55 Â  E1-6 Â  Gross Scopes 1, 2, 3 and Total GHG emissions Â  53-54 Â  E2 Pollution Â  ESRS 2 Â  Material impacts, risks and opportunities and their interaction with Â  56 Â  SBM-3-E2 strategy and business model Â ESRS 2 Â  Description of the processes to identify and assess material Â  41 Â  IRO-1-E2 pollution-related impacts, risks and opportunities Â E2-1 Â  Policies related to pollution Â  57 Â  E2-2 Â  Actions and resources related to pollution Â  57 Â  E2-3 Â  Targets related to pollution Â  57 Â  E2-5 Â  Substances of concern and substances of very high concern Â  57 Â  List of material Disclosure Requirements Â  Page number Â  E3 Â  Water and marine resources Â  ESRS 2 Â  Material impacts, risks and opportunities and their interaction with Â  58 Â  SBM-3-E3 strategy and business model Â ESRS 2 Â  Description of the processes to identify and assess material water Â  42 Â  IRO-1-E3 Â  and marine resources-related impacts, risks and opportunities Â  E3-1 Â  Policies related to water and marine resources Â  59 Â  E3-2 Â  Actions and resources related to water and marine resources Â  59 Â  E3-3 Â  Targets related to water and marine resources Â  60 Â  E3-4 Â  Water consumption Â  60 Â  E4 Â  Biodiversity and ecosystems Â  E4-1 Â  Transition plan and consideration of biodiversity and ecosystems in Â  61 Â  strategy and business model Â  ESRS 2 Â  Material impacts, risks and opportunities and their interaction with Â  61 Â  SBM-3-E4 strategy and business model Â ESRS 2 Â  Description of processes to identify and assess material biodi- Â  42 Â  IRO-1-E4 Â  versity and ecosystem-related impacts, risks dependencies and Â  opportunities Â  E4-2 Â  Policies related to biodiversity and ecosystems Â  62 Â  E4-3 Â  Actions and resources related to biodiversity and ecosystems Â  62 Â  E4-4 Â  Targets related to biodiversity and ecosystems Â  62 Â  List of material Disclosure Requirements Â  Page number Â  E5 Â  Resource use and circular economy Â  ESRS 2 Â  Material impacts, risks and opportunities and their interaction with Â  63 Â  SBM-3-E5 strategy and business model Â ESRS 2 Â  Description of the processes to identify and assess material Â  42-43 Â  IRO-1-E5 resource use and circular economy-related impacts, risks and Â opportunities Â  E5-1 Â  Policies related to resource use and circular economy Â  64 Â  E5-2 Â  Actions and resources related to resource use and circular Â  64 Â  economy Â  E5-3 Â  Targets related to resource use and circular economy Â  65 Â  E5-4 Â  Resource inflows Â  65 Â  E5-5 Â  Resource outflows Â  65 -66 Â  S1 Â  Own workforce Â  ESRS 2 Â  Interests and views of stakeholders Â  39-40 Â  SBM-2-S1 Â  ESRS 2 Â  Material impacts, risks and opportunities and their interaction with Â  74-75; 79 Â SBM-3-S1 strategy and business model Â S1-1 Â  Policies related to own workforce Â  75; 79; 88 Â S1-2 Â  Processes for engaging with own workforce and workers' repre- Â  75-76 Â  sentatives about impacts Â  S1-3 Â  Processes to remediate negative impacts and channels for own Â  79-80; 88-89 Â workforce to raise concerns Â  List of material Disclosure Requirements Â  Page number Â  S1-4 Â  Taking action on material impacts on own workforce, and Â  80 Â  approaches to mitigating material risks and pursuing material Â  opportunities related to own workforce, and effectiveness of those Â  actions Â  S1-5 Â  Targets related to managing material negative impacts, advancing Â  76 Â  positive impacts, and managing material risks and opportunities Â  S1-6 Â  Characteristics of the undertakingâs employees Â  77; 116 Â S1-13 Â  Training and skills development metrics Â  78 Â  S1-14 Â  Health and safety metrics Â  80 Â  S1-16 Â  Remuneration metrics (pay gap and total remuneration) Â  78 Â  S1-17 Â  Incidents, complaints and severe human rights impacts Â  80; 90 Â S2 Â  Workers in the value chain Â  ESRS 2 Â  Interests and views of stakeholders Â  39-40 Â  SBM-2-S2 Â  ESRS 2 Â  Material impacts, risks and opportunities and their interaction with Â  81 Â  SBM-3-S2 strategy and business model Â S2-1 Â  Policies related to value chain workers Â  81-82 Â  S2-2 Â  Processes for engaging with value chain workers about impacts Â  82 Â  S2-3 Â  Processes to remediate negative impacts and channels for value Â  82; 88-89 Â chain workers to raise concerns Â  S2-4 Â  Taking action on material impacts on value chain workers, and Â  82; 90 Â approaches to managing material risks and pursuing material Â  opportunities related to value chain workers, and effectiveness of Â  those actions Â  S2-5 Â  Targets related to managing material negative impacts, advancing Â  82 Â  positive impacts, and managing material risks and opportunities Â  List of material Disclosure Requirements Â  Page number Â  S4 Consumers and End-users Â  ESRS 2 Â  Interests and views of stakeholders Â  39-40 Â  SBM-2-S4 Â  ESRS 2 Â  Material impacts, risks and opportunities and their interaction with Â  83-84 Â  SBM-3-S4 strategy and business model Â S4-1 Â  Policies related to consumers and end-users Â  84; 88-89 Â S4-2 Â  Processes for engaging with consumers and end-users about Â  39-40; 84 Â impacts Â  S4-3 Â  Processes to remediate negative impacts and channels for Â  85; 88-89 Â consumers and end-users to raise concerns Â  S4-4 Â  Taking action on material impacts on consumers and end-users, Â  10 -11; 16-17; 85 Â and approaches to managing material risks and pursuing material Â  opportunities related to consumers and end-users, and effective- Â  ness of those actions Â  S4-5 Â  Targets related to managing material negative impacts, advancing Â  85 Â  positive impacts, and managing material risks and opportunities Â  G1 Â  Business Conduct Â  ESRS 2 Â  Material impacts, risks and opportunities and their interaction with Â  87-88 Â  SBM-3-G1 strategy and business model Â ESRS 2 Â  The role of the administrative, management and supervisory Â  29 Â  GOV-1-G1 bodies Â ESRS 2 Â  Description of the processes to identify and assess material Â  42 Â  IRO-1-G1 impacts, risks and opportunities Â G1-1 Â  Business conduct policies and corporate culture Â  81-82; 87-88; 90 Â G1-3 Â  Prevention and detection of corruption and bribery Â  89-90 Â  G1-4 Â  Incidents of corruption or bribery Â  89-90 Â  List of datapoints that derive from other EU legislation Â  The table below includes all the ESRS datapoints that derive from other EU legislation and indicates where the information can be found if deemed material. Â  Benchmark Regulation Â  EU Climate Law Â  Material / Â  Disclosure Requirement and related datapoint Â  SFDR reference Â  Pillar 3 reference Â  reference Â  reference Â  Not material Â  Page number Â  ESRS 2 GOV-1 Â  Indicator number 13 Â  Commission Delegated Â  Material Â  28-29 Â  Board's gender diversity paragraph 21 (d) Â  of Table #1 of Annex 1 Â  Regulation (EU) Â  2020/1816, Annex II Â  ESRS 2 GOV-1 Â  Delegated Regulation Â  Material Â  28-29 Â  Percentage of board members who are independent Â  (EU) 2020/1816, Annex II Â  paragraph 21 (e) Â  ESRS 2 GOV-4 Â  Indicator number 10 Â  Material Â  94-95 Â  Statement on due diligence paragraph 30 Â  Table #3 of Annex 1 Â  ESRS 2 SBM-1 Â  Indicators number 4 Â  Article 449a Regulation (EU) No 575/2013; Â  Delegated Regulation Â  Not material Â  Involvement in activities related to fossil fuel Â  Table #1 of Annex 1 Â  Commission Implementing Regulation (EU) Â  (EU) 2020/1816, Annex II Â  activities paragraph 40 (d) i Â  2022/2453 Â  Table 1: Qualitative information on Â  Environmental risk and Table 2: Qualitative Â  information on Social risk Â  ESRS 2 SBM-1 Â  Indicator number 9 Â  Delegated Regulation Â  Not material Â  Involvement in activities related to chemical Â  Table #2 of Annex 1 Â  (EU) 2020/1816, Annex II Â  production paragraph 40 (d) ii Â  ESRS 2 SBM-1 Â  Indicator number 14 Â  Delegated Regulation Â  Not material Â  Involvement in activities related to controversial Â  Table #1 of Annex 1 Â  (EU) 2020/1818, Â  weapons paragraph 40 (d) iii Â  Article 12(1) Delegated Â  Regulation (EU) Â  2020/1816, Annex II Â  ESRS 2 SBM-1 Â  Delegated Regulation Â  Not material Â  Involvement in activities related to cultivation and Â  (EU) 2020/1818, Â  production of tobacco paragraph 40 (d) iv Â  Article 12(1) Delegated Â  Regulation (EU) Â  2020/1816, Annex II Â  Benchmark Regulation Â  EU Climate Law Â  Material / Â  Disclosure Requirement and related datapoint Â  SFDR reference Â  Pillar 3 reference Â  reference Â  reference Â  Not material Â  Page number Â  ESRS E1-1 Â  Regulation Â  Material Â  49 Â  Transition plan to reach climate neutrality by 2050 Â  (EU) 2021/1119, Â  paragraph 14 Â  Article 2(1) Â  ESRS E1-1 Â  Article 449a Regulation (EU) No 575/2013; Â  Delegated Regulation Â  Material Â  49 Â  Undertakings excluded from Paris-aligned Â  Commission Implementing Regulation Â  (EU) 2020/1818, Â  Benchmarks paragraph 16 (g) Â  (EU) 2022/2453 Â  Article12.1 (d) to (g), and Â Template 1: Banking book-Climate Change Â  Article 12.2 Â  transition risk: Credit quality of exposures Â  by sector, emissions and residual maturity Â ESRS E1-4 Â  Indicator number 4 Â  Article 449a Regulation (EU) No 575/2013; Â  Delegated Regulation Â  Material Â  51-52 Â  GHG emission reduction targets paragraph 34 Â  Table #2 of Annex 1 Â  Commission Implementing Regulation Â  (EU) 2020/1818, Â  (EU) 2022/2453 Â  Article 6 Â  Template 3: Banking book â Climate Â  change transition risk: alignment metrics Â  ESRS E1-5 Â  Indicator number 5 Â  Material Â  55 Â  Energy consumption from fossil sources Â  Table #1 and Â  disaggregated by sources (only high climate impact Â  Indicator n. 5 Â  sectors) paragraph 38 Â  Table #2 of Annex 1 Â  ESRS E1-5 Â  Indicator number 5 Â  Material Â  55 Â  Energy consumption and mix paragraph 37 Â  Table #1 of Annex 1 Â  ESRS E1-5 Â  Indicator number 6 Â  Material Â  55 Â  Energy intensity associated with activities in high Â  Table #1 of Annex 1 Â  climate impact sectors paragraphs 40 to 43 Â  ESRS E1-6 Â  Indicators number 1 Â  Article 449a; Regulation (EU) No 575/2013; Â  Delegated Regulation Â  Material Â  54 Â  Gross Scope 1, 2, 3 and Total GHG emissions Â  and 2 Table #1 of Â  Commission Implementing Regulation Â  (EU) 2020/1818, Â  paragraph 44 Â  Annex 1 Â  (EU) 2022/2453 Â  Article 5(1), 6 and 8(1) Â  Template 1: Banking book â Climate change Â  transition risk: Credit quality of exposures Â  by sector, emissions and residual maturity Â ESRS E1-6 Â  Indicators number 3 Â  Article 449a Regulation (EU) No 575/2013; Â  Delegated Regulation Â  Material Â  54 Â  Gross GHG emissions intensity paragraphs 53 to 55 Â  Table #1 of Annex 1 Â  Commission Implementing Regulation Â  (EU) 2020/1818, Â  (EU) 2022/2453 Â  Article 8(1) Â  Template 3: Banking book â Climate Â  change transition risk: alignment metrics Â  Benchmark Regulation Â  EU Climate Law Â  Material / Â  Disclosure Requirement and related datapoint Â  SFDR reference Â  Pillar 3 reference Â  reference Â  reference Â  Not material Â  Page number Â  ESRS E1-7 Â  Regulation Â  Not material Â  GHG removals and carbon credits paragraph 56 Â  (EU) 2021/1119, Â  Article 2(1) Â  ESRS E1-9 Â  Delegated Regulation Â  Phase-in Â  Exposure of the benchmark portfolio to climate- Â  (EU) 2020/1818, Annex II Â  related physical risks paragraph 66 Â  Delegated Regulation Â  (EU) 2020/1816, Annex II Â  ESRS E1-9 Â  Article 449a Regulation (EU) No 575/2013; Â  Phase-in Â  Disaggregation of monetary amounts by acute and Â  Commission Implementing Regulation Â  chronic physical risk paragraph 66 (a) Â  (EU) 2022/2453 Â  ESRS E1-9 Â  paragraphs 46 Â  Location of significant assets at material physical risk Â  and 47; Template 5: Banking book Â  paragraph 66 (c). Â  - Climate change physical risk: Exposures Â  subject to physical risk. Â  ESRS E1-9 Â  Article 449a Regulation (EU) No 575/2013; Â  Phase-in Â  Breakdown of the carrying value of its real estate Â  Commission Implementing Regulation Â  assets by energy-efficiency classes paragraph 67 Â  (EU) 2022/2453 Â  (c). Â  paragraph 34; Template 2:Banking book Â  -Climate change transition risk: Loans Â  collateralised by immovable property Â  - Energy efficiency of the collateral Â  ESRS E1-9 Â  Delegated Regulation Â  Phase-in Â  Degree of exposure of the portfolio to climate- related Â  (EU) 2020/1818, Â  opportunities paragraph 69 Â  Annex II Â  ESRS E2-4 Â  Indicator number 8 Â  Not material Â  Amount of each pollutant listed in Annex II of the Â  Table #1 of Annex 1 Â  E-PRTR Regulation (European Pollutant Release and Â  Indicator number 2 Â  Transfer Register) emitted to air, water and soil, Â  Table #2 of Annex 1 Â  paragraph 28 Â  Indicator number 1 Â  Table #2 of Annex 1 Â  Indicator number 3 Â  Table #2 of Annex 1 Â  Benchmark Regulation Â  EU Climate Law Â  Material / Â  Disclosure Requirement and related datapoint Â  SFDR reference Â  Pillar 3 reference Â  reference Â  reference Â  Not material Â  Page number Â  ESRS E3-1 Â  Indicator number 7 Â  Material Â  59 Â  Water and marine resources paragraph 9 Â  Table #2 of Annex 1 Â  ESRS E3-1 Â  Indicator number 8 Â  Not material Â  Dedicated policy paragraph 13 Â  Table 2 of Annex 1 Â  ESRS E3-1 Â  Indicator number 12 Â  Material Â  59 Â  Sustainable oceans and seas paragraph 14 Â  Table #2 of Annex 1 Â  ESRS E3-4 Â  Indicator number 6.2 Â  Material Â  60 Â  Total water recycled and reused paragraph 28 (c) Â  Table #2 of Annex 1 Â  ESRS E3-4 Â  Indicator number 6.1 Â Material Â  60 Â  Total water consumption in m3 per net revenue on own Â Table #2 of Annex 1 Â  operations paragraph 29 Â  ESRS 2- SBM 3 - E4 Â  Indicator number 7 Â  Material Â  61 Â  paragraph 16 (a) i Â  Table #1 of Annex 1 Â  ESRS 2- SBM 3 - E4 Â  Indicator number 10 Â  Material Â  61 Â  paragraph 16 (b) Â  Table #2 of Annex 1 Â  ESRS 2- SBM 3 - E4 Â  Indicator number 14 Â  Material Â  61 Â  paragraph 16 (c) Â  Table #2 of Annex 1 Â  ESRS E4-2 Â  Indicator number 11 Â Material Â  62 Â  Sustainable oceans / seas practices or policies Â  Table #2 of Annex 1 Â  paragraph 24 (c) Â  ESRS E4-2 Â  Indicator number 12 Â  Material Â  62 Â  Sustainable oceans / seas practices or policies Â  Table #2 of Annex 1 Â  paragraph 24 (c) Â  ESRS E4-2 Â  Indicator number 15 Â  Material Â  62 Â  Policies to address deforestation paragraph 24 (d) Â  Table #2 of Annex 1 Â  ESRS E5-5 Â  Indicator number 13 Â  Material Â  65-66 Â  Non-recycled waste paragraph 37 (d) Â  Table #2 of Annex 1 Â  ESRS E5-5 Â  Indicator number 9 Â  Material Â  65-66 Â  Hazardous waste and radioactive waste Â  Table #1 of Annex 1 Â  paragraph 39 Â  ESRS 2- SBM3 - S1 Â  Indicator number 13 Â  Not material Â  Risk of incidents of forced labour paragraph 14 (f) Â  Table #3 of Annex I Â  ESRS 2- SBM3 - S1 Â  Indicator number 12 Â  Not material Â  Risk of incidents of child labour paragraph 14 (g) Â  Table #3 of Annex I Â  Benchmark Regulation Â  EU Climate Law Â  Material / Â  Disclosure Requirement and related datapoint Â  SFDR reference Â  Pillar 3 reference Â  reference Â  reference Â  Not material Â  Page number Â  ESRS S1-1 Â  Indicator number 9 Â  Material Â  75 Â  Human rights policy commitments paragraph 20 Â  Table #3 and Â  Indicator number 11 Â Table #1 of Annex I Â  ESRS S1-1 Â  Delegated Regulation (EU) 2020/1816, Â  Material Â  75 Â  Due diligence policies on issues addressed by the Â  Annex II Â  fundamental International Labor Organisation Â  Conventions 1 to 8, paragraph 21 Â  ESRS S1-1 Â  Indicator number 11 Â Material Â  75 Â  processes and measures for preventing trafficking in Â  Table #3 of Annex I Â  human beings paragraph 22 Â  ESRS S1-1 Â  Indicator number 1 Â  Material Â  79 Â  workplace accident prevention policy or Â  Table #3 of Annex I Â  management system paragraph 23 Â  ESRS S1-3 Â  Indicator number 5 Â  Material Â  88-89 Â  grievance/complaints handling mechanisms Â Table #3 of Annex I Â  paragraph 32 (c) Â  ESRS S1-14 Â  Indicator number 2 Â  Delegated Regulation Â  Material Â  80 Â  Number of fatalities and number and rate of work- Â  Table #3 of Annex I Â  (EU) 2020/1816, Â  related accidents paragraph 88 (b) and (c) Â  Annex II Â  ESRS S1-14 Â  Indicator number 3 Â  Phase-in Â  Number of days lost to injuries, accidents, fatalities or Â  Table #3 of Annex I Â  illness paragraph 88 (e) Â  ESRS S1-16 Â  Indicator number 12 Â  Delegated Regulation Â  Material Â  78 Â  Unadjusted gender pay gap paragraph 97 (a) Â  Table #1 of Annex I Â  (EU) 2020/1816, Â  Annex II Â  ESRS S1-16 Â  Indicator number 8 Â  Material Â  78 Â  Excessive CEO pay ratio paragraph 97 (b) Â  Table #3 of Annex I Â  ESRS S1-17 Â  Indicator number 7 Â  Material Â  90 Â  Incidents of discrimination paragraph 103 (a) Â  Table #3 of Annex I Â  ESRS S1-17 Â  Indicator number 10 Â  Delegated Regulation Â  Material Â  90 Â  Non-respect of UNGPs on Business and Human Rights Â  Table #1 and Â  (EU) 2020/1816, Annex II Â  and OECD paragraph 104 (a) Â  Indicator n. 14 Table Â  Delegated Regulation Â  #3 of Annex I Â  (EU) 2020/1818 Art 12 (1) Â  Benchmark Regulation Â  EU Climate Law Â  Material / Â  Disclosure Requirement and related datapoint Â  SFDR reference Â  Pillar 3 reference Â  reference Â  reference Â  Not material Â  Page number Â  ESRS 2- SBM3 â S2 Â  Indicators number 12 Â  Material Â  81 Â  Significant risk of child labour or forced labour in the Â  and n. 13 Table #3 of Â  value chain paragraph 11 (b) Â Annex I Â  ESRS S2-1 Â  Indicator number 9 Â  Material Â  81-82 Â  Human rights policy commitments paragraph 17 Â  Table #3 and Â  Indicator n. 11 Table Â #1 of Annex 1 Â  ESRS S2-1 Â  Indicator number 11 Â Material Â  81-82 Â  Policies related to value chain workers paragraph 18 Â  and n. 4 Table #3 of Â  Annex 1 Â  ESRS S2-1 Â  Indicator number 10 Â  Delegated Regulation Â  Material Â  81-82 Â  Non-respect of UNGPs on Business and Human Rights Â  Table #1 of Annex 1 Â  (EU) 2020/1816, Â  principles and OECD guidelines paragraph 19 Â  Annex II Â  Delegated Regulation Â  (EU) 2020/1818, Art 12 (1) Â  ESRS S2-1 Â  Delegated Regulation Â  Material Â  81-82 Â  Due diligence policies on issues addressed by the Â  (EU) 2020/1816, Â  fundamental International Labor Organisation Â  Annex II Â  Conventions 1 to 8, paragraph 19 Â  ESRS S2-4 Â  Indicator number 14 Â  Material Â  82; 90 Â Human rights issues and incidents connected to its Â  Table #3 of Annex 1 Â  upstream and downstream value chain paragraph 36 Â  ESRS S3-1 Â  Indicator number 9 Â  Not material Â  Human rights policy commitments paragraph 16 Â  Table #3 of Annex Â  1 and Indicator Â  number 11 Table #1 of Â Annex 1 Â  ESRS S3-1 Â  Indicator number 10 Â  Delegated Regulation Â  Not material Â  non-respect of UNGPs on Business and Human Â  Table #1 Annex 1 Â  (EU) 2020/1816, Â  Rights, ILO principles or and OECD guidelines Â  Annex II Â  paragraph 17 Â  Delegated Regulation Â  (EU) 2020/1818, Art 12 (1) Â  ESRS S3-4 Â  Indicator number 14 Â  Not material Â  Human rights issues and incidents paragraph 36 Â  Table #3 of Annex 1 Â  Benchmark Regulation Â  EU Climate Law Â  Material / Â  Disclosure Requirement and related datapoint Â  SFDR reference Â  Pillar 3 reference Â  reference Â  reference Â  Not material Â  Page number Â  ESRS S4-1 Â  Indicator number 9 Â  Material Â  84 Â  Policies related to consumers and end-users Â  Table #3 and Â  paragraph 16 Â  Indicator number 11 Â Table #1 of Annex 1 Â  ESRS S4-1 Â  Indicator number 10 Â  Delegated Regulation Â  Material Â  84 Â  Non-respect of UNGPs on Business and Human Rights Â  Table #1 of Annex 1 Â  (EU) 2020/1816, Â  and OECD guidelines paragraph 17 Â  Annex II Â  Delegated Regulation Â  (EU) 2020/1818, Art 12 (1) Â  ESRS S4-4 Â  Indicator number 14 Â  Not material Â  Human rights issues and incidents paragraph 35 Â  Table #3 of Annex 1 Â  ESRS G1-1 Â  Indicator number 15 Â  Not material Â  United Nations Convention against Corruption Â  Table #3 of Annex 1 Â  paragraph 10 (b) Â  ESRS G1-1 Â  Indicator number 6 Â  Not material Â  Protection of whistle- blowers paragraph 10 (d) Â  Table #3 of Annex 1 Â  ESRS G1-4 Â  Indicator number 17 Â  Delegated Regulation Â  Material Â  89 Â  Fines for violation of anti- corruption and anti-bribery Â  Table #3 of Annex 1 Â  (EU) 2020/1816, Â  laws paragraph 24 (a) Â  Annex II) Â  ESRS G1-4 Â  Indicator number 16 Â  Material Â  89 Â  Standards of anti- corruption and anti- bribery Â  Table #3 of Annex 1 Â  paragraph 24 (b) Â </mrv:SustainabilityReport>
   <mrv:StatementOfPolicyForDataEthics contextRef="ctx1" id="fact7869" xml:lang="en">Data ethics Â  ALK processes data from clinical trials, Â  research and development, employees, Â  customer interactions, and pharmacov- Â  igilance. Recognising the importance of Â  responsibly managing stakeholder data, Â  ALK adheres to its publicly communicated Â  data ethics policy. This policy ensures strict Â  compliance with privacy regulations and Â  best practices to safeguard data confiden- Â  tiality, integrity, and availability. Â  ALK maintains transparency about how Â  data is collected, processed, and used. Â  Data isÂ only used to expand scientific and Â medical understanding, ensure patient Â  safety, improve products and services, and Â  deliver appropriate treatments. The Board Â  of Directors regularly assesses this policy, Â  which applies to all ALK employees. Rele- Â  vant business units manage day-to-day Â  data ethics, integrating these principles Â  into their operations. This report complies Â  with section 99d of the Danish Financial Â  Statements Act. Â </mrv:StatementOfPolicyForDataEthics>
   <mrv:StatementOfTheDiversityPolicies contextRef="ctx1" id="fact7895" xml:lang="en">Disclosures stemming from other legislation Â  or generally accepted sustainability Â  reporting pronouncements Â  The sustainability statement has been prepared in compliance Â  with Section 99a of the Danish Financial Statements Act, in Â  accordance with the ESRS. Information prepared in compliance Â  with Section 107d of the Danish Financial Statements Act has Â  been included in the management review as well asÂ in S1-1 on Â page 75. Â In addition to the Code of Conduct, which addresses harass- Â  ment, ALK has adopted a Diversity &amp; Inclusion (D&amp;I) Policy which Â  aims to eliminate discrimination and promote equal treatment Â  and opportunities for all employees. It sets out ALK's ambition Â  to create an inclusive work environment that fosters a sense of Â  belonging where different perspectives, abilities, talents and Â  experiences are able to contribute equally. The policy applies Â  to all ALK employees. The most senior level accountable for Â  implementing the policy is the ALK Sustainability Committee, Â  which receives quarterly reports from ALKâs sustainability Â  department on company-wide diversity performance. The ALK Â  D&amp;I policy specifies that the following grounds for discrimination Â  are unacceptable: age, gender, race, ethnicity, religion, sexual Â  orientation, disability or and other characteristics including Â  work and life perspectives. The policy does not include specific Â  commitments for inclusion of people from particularly at-risk or Â  vulnerable groups. Â  ALK tracks employeesâ perceptions of diversity and inclusion Â  and their sense of psychological safety via the annual employee Â  engagement survey. In 2024, the overall perception of D&amp;I in Â  ALK was 8.4, which is 0.2 points above the industry benchmark. Â  Other initiatives to promote diversity and inclusion include Â  training leaders on unconscious bias and incorporating D&amp;I Â  topics into talent development programmes. Â </mrv:StatementOfTheDiversityPolicies>
   <mrv:DescriptionofTheTaxonomyRegulation contextRef="ctx1" id="fact7931" xml:lang="en">E3-4 Â  Water consumption Â  In 2024, ALK's overall water consumption was Â  405,306 m3. This year, ALK included the irri- Â gation for all leased land for ALK source mate- Â  rials, and installed meters to measure exact Â  consumption. The domestic water use was Â  92,533 m3 (2023: 101,413). Â The consumption of water at Madrid (Spain) Â  was 11,495 m3 (2023: 10,646). Madrid (Spain) Â production site is located in the Tagus river Â  basin, which has a low water quality and Â  quantity. Â  ALK reused 18,624 m3 of water for irrigation Â purposes on the land where crops are culti- Â  vated to produce allergenic source materials. Â  Water used in ALKâs production processes Â  must meet strict regulatory standards for Â  quality and sterility, particularly in pharma- Â  ceutical manufacturing. These requirements Â  make water reuse or recycling complex and Â  may require advanced treatment systems to Â  ensure compliance, which are not currently Â  in place. As some allergenic source materials Â  come from leased land, implementing long- Â  term infrastructure, such as water recycling Â  systems, may not always be feasible or Â  aligned with the terms of the leasing agree- Â  ments. Â  ALK does not currently have water storage Â  facilities. The production processes at ALKâs Â  production sites generally rely on a direct and Â  consistent supply of water from municipal or Â  other external sources, reducing the imme- Â  diate need for on-site water storage. Since Â  water is not extensively reused or recycled, Â  the requirement for storage infrastructure is Â  limited. Â  The focus on investments in initiatives with Â  immediate and significant environmental Â  impacts has over the past year taken prece- Â  dence over the development of water storage Â  systems. In regions where water availability Â  is generally stable or sourced directly from Â  external providers, water storage may not Â  be deemed essential. For example, in areas Â  where water supply networks are reliable, Â  on-site storage systems may not add signifi- Â  cantly to operational efficiency. Â  EU Taxonomy Â  Under Article 8(1) of the Taxonomy regulation Â  (EU) 2020/852 and further detailed in Annex I of Â  the Disclosure Delegated Act (EU) 2021/2178, Â  ALK is obligated to report on the sustainability Â  profile of its Turnover, Capital Expenditure Â  (CapEx), and Operating Expenditure (OpEx). Â  This process involves evaluating ALK's economic Â  activities against those enumerated in the Â  delegated legislation of the EU Taxonomy (i.e. Â  eligibility assessment), identifying ALK's eligible Â  Turnover, CapEx, and OpEx, and finally assessing Â  compliance with the Substantial Contribution Â  Criteria (i.e. alignment assessment).The findings Â  from both the eligibility and alignment assess- Â  ments are encapsulated in key performance indi- Â  cators (KPIs) for Turnover, OpEx, and CapEx. Â  For a full overview of our taxonomy-eligible activites, Â  see the tables on pages 68-70. Â  Eligibility and alignment Â  In 2024, ALK has identified 98.0% turnover (2023: Â  97.8%), 18.7% CapEx (2023: 70.5%), and 57.9% Â OpEx (2023: 47.4%) eligibility. Key changes from Â 2023 results from error identification in last year Â  reporting for CapEx and OpEx KPIs. Â  ALK has not claimed EU taxonomy alignment for Â  any eligible activities as it cannot be documented. Â  A climate risk assessment is planned for 2025. Â  Turnover Â  ALK has identified the following eligible turnover Â  activities: Â  â¢ PPCÂ 1.2, manufacture of medicinal products: A Â large portion of ALK's turnover stems from the Â  production of allergy immunotherapy treatments Â  as well as adrenaline pens (97.9% of turnover). Â â¢ PPCÂ 1.1, manufacture of active pharmaceutical Â ingredients (API) or active substances: A minor Â  portion of ALKâs turnover is related to manufac- Â  ture of allergen extracts for use in the diagnosis Â  of specific allergies, for instance in skin prick Â  tests (0.1% of turnover). Â CapEx Â  ALK has identified the following eligible CapEx Â  activities: Â  â¢ PPCÂ 1.2, manufacture of medicinal products: Â Capital expenditures related to the manufac- Â  turing of allergy immunotherapy treatments and Â  adrenaline pens (12.8% of CapEx). Â  â¢ CCMÂ 7.5, Installation, maintenance and repair of Â instruments and devices for measuring, regula- Â  tion and controlling energy performance of build- Â  ings: In 2024, ALK continued to install metering Â  equipment in Denmark to monitor water and elec- Â  tricity consumption (0.1% of CapEx). Â â¢ CCMÂ 7.6, Installation, maintenance and repair Â of renewable energy technologies: Related to Â  the installation of an electrified boiler in France Â  replacing a boiler running on natural gas (0.3% Â  of CapEx). Â  â¢ CCMÂ 7.7, Acquisition and ownership of buildings: Â Projects related to investments and mainte- Â  nance of ALKâs buildings (5.5% of CapEx). Â  OpEx Â  ALK has identified the following eligible OpEx Â  activities: Â  â¢ PPCÂ 1.2, manufacture of medicinal products: Â OpEx relate to the manufacturing of allergy Â  immunotherapy treatments and adrenaline Â  pens (52.7% of OpEx). Â  â¢ CCMÂ 6.5, transport by motorbikes, passenger Â cars and light commercial vehicles: Leased Â  vehicles (5.2% of OpEx). Â  Annex XII of the Consolidated Complementary Delegated Act Â  All amounts in the tables below are presented in mEUR Â  Template 1 Nuclear and fossil gas related activities Â  Turnover Â  CapEX Â  Row Â  OpEx Â  Nuclear energy related activities Â  1. Â  The undertaking carries out, funds or has exposures to research, Â  NO Â  development, demonstration and deployment of innovative electricity generation facilities that Â  produce energy from nuclear processes with minimal waste from the fuel cycle. Â  2. Â  The undertaking carries out, funds or has exposures to construction and safe operation of new Â  NO Â  nuclear installations to produce electricity or process heat, including for the purposes of district Â  heating or industrial processes such as hydrogen production, as well as their safety upgrades, using Â  best available technologies. Â  3. Â  The undertaking carries out, funds or has exposures to safe operation of existing nuclear installa- Â  NO Â  tions that produce electricity or process heat, including for the purposes of district heating or indus- Â  trial processes such as hydrogen production from nuclear energy, as well as their safety upgrades. Â  Fossil gas related activities Â  4. Â  The undertaking carries out, funds or has exposures to construction or operation of electricity Â  NO Â  generation facilities that produce electricity using fossil gaseous fuels. Â  5. Â  The undertaking carries out, funds or has exposures to construction, refurbishment, and operation Â  NO Â  of combined heat/cool and power generation facilities using fossil gaseous fuels. Â 6. Â  The undertaking carries out, funds or has exposures to construction, refurbishment and operation ofÂ NO Â heat generation facilities that produce heat/cool using fossil gaseous fuels. Â Taxonomy turnover Â Proportion of turnover from products or services associated with Taxonomy-aligned economic activities â disclosure covering year 2024 Â  DNSH criteria Â  Financial year 2024 Â  2024 Â  Substantial Contribution Criteria Â  ('Does Not Significantly Harm') Â  Proportion Â  of Taxonomy Â  Propor- Â  Climate Â  Climate Â  Climate Â  aligned Â  tion of Â  Change Â  Change Â  Climate Â  Change Â  (A.1.) or eligibleÂ Category Â Category Â  turnover, Â  Mitiga- Â  Adapta- Â  Circular Â  Bio- Â  Change Â  Adapta- Â  Circular Â  Bio- Â  Minimum Â  (A.2.) turnover, Â  enabling Â  transitional Â  Economic activities Â  Code Â  Turnover yearÂ N Â tion Â  tion Â  Water Â  Pollution Â  Economy diversity MitigationÂ tion Â Water Â  Pollution Â  Economy diversity Safeguards Â  year 2023 Â  activity Â  activity Â  (1) Â  (2) Â  (3) Â  (4) Â  (5) Â  (6) Â  (7) Â  (8) Â  (9) Â  (10) Â  (11) Â  (12) Â  (13) Â  (14) Â  (15) Â  (16) Â  (17) Â  (18) Â  (19) Â  (20) Â  DKKm Â  % Y;N;N/EL Â  Y;N;N/EL Â  Y;N;N/EL Â  Y;N;N/EL Â  Y;N;N/EL Â  Y;N;N/EL Â  Y/N Â  Y/N Â  Y/N Â  Y/N Â  Y/N Â  Y/N Â  Y/N Â  % E T A. Taxonomy-eligible activities Â  A.1. Environmentally sustainable activities Â  (Taxonomy-aligned) Â  Turnover of environmentally sustainable activities (Taxonomy-aligned) (A.1) Â 0 0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  N N N N N N N 0.0% Â  Of which Enabling Â  0 0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  N N N N N N N 0.0% Â  E Of which Transitional Â  0 0.0% Â  0.0% Â  N N N N N N N 0.0% Â  T A.2 Taxonomy-eligible but not environmentally sustainable activities Â (not Taxonomy-aligned activities) Â  EL;N/EL Â  EL;N/EL Â  EL;N/EL Â  EL;N/EL Â  EL;N/EL Â  EL;N/EL Â  Manufacture of active pharmaceutical ingredients (API) or active substance Â  PPC 1.1 Â  7 0.1% Â  N/EL Â  N/EL Â  N/EL Â  EL Â  N/EL Â  N/EL Â  0.4% Â  Manufacturing of Medicinal products Â  PPC 1.2 Â  5,418 Â  97.9 % Â N/EL Â  N/EL Â  N/EL Â  EL Â  N/EL Â  N/EL Â  97.4% Â Turnover of Taxonomy-eligible but not environmentally sustainable activities Â  (not Taxonomy-aligned activities) (A.2) Â  5,425 Â  98.0% Â  0.0% Â  0.0% Â  0.0% Â  98.0% Â  0.0% Â  0.0% Â  97.8% Â  A. Turnover of Taxonomy eligible activities (A1 + A2) Â 5,425 Â  98.0% Â  0.0% Â  0.0% Â  0.0% Â  98.0% Â  0.0% Â  0.0% Â  97.8% Â  B. Taxonomy-non-eligible activities Â  Turnover of Taxonomy-non-eligible activities Â  112 Â  2.0% Â  Total Â  5,537 Â  100.0% Â  Taxonomy CapEx Â Proportion of CapEx from products or services associated with Taxonomy-aligned economic activities â disclosure covering year 2024 Â  DNSH criteria Â  Financial year 2024 Â  2024 Â  Substantial Contribution Criteria Â  ('Does Not Significantly Harm') Â  Proportion Â  of Taxonomy Â  Climate Â  Climate Â  Climate Â  aligned Â  Proportion Change Â  Change Â  Climate Â  Change Â  (A.1.) or eligible Â  of CapEx,Â Mitiga- Â Adapta- Â  Circular Â  Biodiver- Change Â  Adapta- Â  Circular Â  Bio- Â  Minimum Â  (A.2.) CapEx, Â  Category Â  Category transi- Â  Economic activities Â  Code Â  CapEx Â  year N Â  tion Â  tion Â  Water Â  Pollution Â  Economy sity Â  Mitigation tion Â  Water Â  Pollution Â  Economy diversity Safeguards Â  year 2023 Â  enabling activityÂ tional activity Â (1) Â  (2) Â  (3) Â  (4) Â  (5) Â  (6) Â  (7) Â  (8) Â  (9) Â  (10) Â  (11) Â  (12) Â  (13) Â  (14) Â  (15) Â  (16) Â  (17) Â  (18) Â  (19) Â  (20) Â  DKKm Â  % Y;N;N/EL Â  Y;N;N/EL Â  Y;N;N/EL Â  Y;N;N/EL Â  Y;N;N/EL Â  Y;N;N/EL Â  Y/N Â  Y/N Â  Y/N Â  Y/N Â  Y/N Â  Y/N Â  Y/N Â  % E T A. Taxonomy-eligible activities Â  A.1. Environmentally sustainable activities Â  (Taxonomy-aligned) Â  CapEx of environmentally sustainable activities (Taxonomy-aligned) (A.1) Â 0 0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  N N N N N N N 0.0% Â  Of which Enabling Â  0 0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  N N N N N N N 0.0% Â  E Of which Transitional Â  0 0.0% Â  0.0% Â  N N N N N N N 0.0% Â  T A.2 Taxonomy-eligible but not environmentally sustainable activities Â (not Taxonomy-aligned activities) Â  EL;N/EL Â  EL;N/EL Â  EL;N/EL Â  EL;N/EL Â  EL;N/EL Â  EL;N/EL Â  Manufacturing of Medicinal products Â  PPC 1.2 Â  167 Â  12.8% Â  N/EL Â  N/EL Â  N/EL Â  EL Â  N/EL Â  N/EL Â  69.0% Â  Installation, maintenance and repair of energy efficiency equipment (CapEx C) Â  CC MÂ 7. 3 Â 0 0.0% Â  EL Â  N/EL Â  N/EL Â  N/EL Â  N/EL Â  N/EL Â  0.7% Â  Installation, maintenance and repair of instruments and devices for measuring, Â  regulation and controlling energy performance of buildings Â  CC MÂ 7. 5 Â 1 0.1% Â  EL Â  N/EL Â  N/EL Â  N/EL Â  N/EL Â  N/EL Â  0.8% Â  Installation, maintenance and repair of renewable energy technologies Â  CC MÂ 7.6 Â 4 0.3% Â  EL Â  N/EL Â  N/EL Â  N/EL Â  N/EL Â  N/EL Â  0.0% Â  Acquisition and ownership of buildings Â  CC MÂ 7.7 Â 71 Â  5.5% Â  EL Â  N/EL Â  N/EL Â  N/EL Â  N/EL Â  N/EL Â  0.0% Â  CapEx of Taxonomy-eligible but not environmentally sustainable activities Â  (not Taxonomy-aligned activities) (A.2) Â  243 Â  18.7% Â  5.9% Â  0.0% Â  0.0% Â  12.8% Â  0.0% Â  0.0% Â  70.5% Â  A. CapEx of Taxonomy eligible activities (A1 + A2) Â  243 Â  18.7% Â  5.9% Â  0.0% Â  0.0% Â  12.8% Â  0.0% Â  0.0% Â  70.5% Â  B. Taxonomy-non-eligible activities Â  CapEx of Taxonomy-non-eligible activities Â  1,060 Â  81.3% Â  Total Â  1,303 Â  100.0% Â  Taxonomy OpEx Â Proportion of OpEx from products or services associated with Taxonomy-aligned economic activities â disclosure covering year 2024 Â  DNSH criteria Â  Financial year 2024 Â  2024 Â  Substantial Contribution Criteria Â  ('Does Not Significantly Harm') Â  Proportion Â  of Taxonomy Â  Climate Â  Climate Â  Climate Â  aligned Â  Proportion Change Â  Change Â  Climate Â  Change Â  (A.1.) or eligible Â  of OpEx, Â  Mitiga- Â  Adapta- Â  Circular Â  Bio- Â  Change Â  Adapta- Â  Circular Â  Biodiver- Minimum Â  (A.2.) OpEx, Â  Category Â  Category transi- Â  Economic activities Â  Code Â  OpEx Â  year N Â  tion Â  tion Â  Water Â  Pollution Â  Economy diversity MitigationÂ tion Â Water Â  Pollution Â  Economy sity Â  Safeguards Â  year 2023 Â  enabling activityÂ tional activity Â (1) Â  (2) Â  (3) Â  (4) Â  (5) Â  (6) Â  (7) Â  (8) Â  (9) Â  (10) Â  (11) Â  (12) Â  (13) Â  (14) Â  (15) Â  (16) Â  (17) Â  (18) Â  (19) Â  (20) Â  DKKm Â  % Y;N;N/EL Â  Y;N;N/EL Â  Y;N;N/EL Â  Y;N;N/EL Â  Y;N;N/EL Â  Y;N;N/EL Â  Y/N Â  Y/N Â  Y/N Â  Y/N Â  Y/N Â  Y/N Â  Y/N Â  % E T A. Taxonomy-eligible activities Â  A.1. Environmentally sustainable activities Â  (Taxonomy-aligned) Â  OpEx of environmentally sustainable activities (Taxonomy-aligned) (A.1) Â 0 0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  N N N N N N N 0.0% Â  Of which Enabling Â  0 0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  0.0% Â  N N N N N N N 0.0% Â  E Of which Transitional Â  0 0.0% Â  0.0% Â  N N N N N N N 0.0% Â  T A.2 Taxonomy-eligible but not environmentally sustainable activities Â (not Taxonomy-aligned activities) Â  EL;N/EL Â  EL;N/EL Â  EL;N/EL Â  EL;N/EL Â  EL;N/EL Â  EL;N/EL Â  Manufacturing of Medicinal products Â  PPC 1.2 Â  172 Â  52.7% Â  N/EL Â  N/EL Â  N/EL Â  EL Â  N/EL Â  N/EL Â  46.9% Â  Transport by motorbikes, passenger cars and light commercial vehicles (OpEx C) Â  CCM 6.5 Â  17 Â  5.2% Â  EL Â  N/EL Â  N/EL Â  N/EL Â  N/EL Â  N/EL Â  0.5% Â  OpEx of Taxonomy-eligible but not environmentally sustainable activities (not Taxono- Â  my-aligned activities) (A.2) Â  189 Â  57.9% Â  5.2% Â  0.0% Â  0.0% Â  52.7% Â  0.0% Â  0.0% Â  47.4% Â  A. OpEx of Taxonomy eligible activities (A1 + A2) Â  189 Â  57.9% Â  5.2% Â  0.0% Â  0.0% Â  52.7% Â  0.0% Â  0.0% Â  47.4% Â  B. Taxonomy-non-eligible activities Â  OpEx of Taxonomy-non-eligible activities Â  138 Â  42.1% Â  Total Â  327 Â  100.0% Â  EU Taxonomy Â  The turnover, OpEx and CapEx numerators are deter- Â  mined from ALKâs assessment of the relevant economic Â  activities within all six environmental objectives. Â  The turnover denominator is derived from ALK groupâs Â  total revenue of the consolidated financial statements Â  ( see note 2.1 on page 114). The Turnover KPI is defined Â as Taxonomy-eligible Turnover divided by total Turnover. Â  The CapEx denominator is derived from the ALK groupâs Â  total annual investments in property, plant and equip- Â  ment as well as intangible assets, excluding short term Â  leases and non-capitalised ROU assets based on Danish Â  GAAP, as stated in the consolidated financial statements Â ( see notes 3.1 - 3.3 on pages 121-126). Goodwill Â is not included in CapEx. The CapEx KPI is defined as Â  Taxonomy-eligible CapEx divided by total CapEx. Â The OpEx denominator covers direct non-capitalised Â  costs that primarily relate to repair and maintenance, Â  car expenses that are short term leased, tests and costs Â  relating to the servicing of group assets that are neces- Â  sary to ensure the continued and effective functioning Â  of such assets. The OpEx KPI is defined as Taxonomy Â  eligible OpEx divided by total OpEx. Â  For the CapEx and OpEx allocations, the relevant Â  purchases and measures, as well as the primary related Â  economic activity, are identified. Thereby, it is ensured Â  that no CapEx or OpEx is double counted. Â </mrv:DescriptionofTheTaxonomyRegulation>
   <sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx1" id="fact8852" xml:lang="en">Statement by Management Â  on the annual report Â  The Board of Directors and the Board of Management have today Â  considered and adopted the annual report of ALK-AbellÃ³ A/S for the Â  financial year 1 January to 31 December 2024. Â  The consolidated financial statements have been prepared in Â  accordance with IFRS accounting standards as adopted by the EU Â  and further requirements in the Danish Financial Statements Act. Â  The parent company financial statements have been prepared in Â  accordance with the Danish Financial Statements Act. Manage- Â  ment's review has been prepared in accordance with the Danish Â  Financial Statements Act. Â  In our opinion, the consolidated financial statements and the Â  parent company financial statements give a true and fair view of the Â  financial position at 31 December 2024 of the group and the parent Â  company and of the results of the group and parent company opera- Â  tions and consolidated cash flows for the financial year 1 January to Â  31 December 2024. Â  In our opinion, Managementâs review includes a true and fair Â  account of the development in the operations and financial circum- Â  stances of the group and the parent company, of the results for Â  the year, and of the financial position of the group and the parent Â  company, as well as a description of the most significant risks and Â  elements of uncertainty which the group and the parent company Â  are facing. Â  Additionally, the Sustainability Statement, which is part of Manage- Â  mentâs review, has been prepared, in all material respects, in Â  accordance with paragraph 99 a of the Danish Financial Statements Â  Act. This includes compliance with the European Sustainability Â  Reporting Standards (ESRS) including that the process undertaken Â  by Management to identify the reported information (the âProcessâ) Â  is in accordance with the description set out in section âDescrip- Â  tion of the process to identify and assess material impacts, risks Â  and opportunitiesâ. Furthermore, disclosures in subsection âEU Â Taxonomyâ in the environmental section of the Sustainability State- Â ment are, in all material respects, in accordance with Article 8 of EU Â  Regulation 2020/852 (the âTaxonomy Regulationâ). Â  The year 2024 marks the initial implementation of paragraph 99 a Â  of the Danish Financial Statements Act concerning compliance with Â  ESRS. As such, more clear guidance and practice are anticipated in Â  various areas, which are expected to be issued in the coming years. Â  Furthermore, the Sustainability Statement includes forward-looking Â  statements based on disclosed assumptions about events that Â  may occur in the future and possible future actions by the Group. Â  Actual outcomes are likely to be different since anticipated events Â  frequently do not occur as expected. Â  In our opinion, the annual report of ALK-AbellÃ³ A/S for the financial Â  year 1 January to 31 December 2024 with the file name alk-2024-12- Â  31-en.zip is prepared, in all material respects, in compliance with Â  the ESEF Regulation. Â  We recommend that the annual report be adopted at the annual Â  general meeting. Â </sob:StatementByExecutiveAndSupervisoryBoards>
   <sob:PlaceOfSignatureOfStatement contextRef="ctx1" id="fact8908" xml:lang="en">HÃ¸rsholm</sob:PlaceOfSignatureOfStatement>
   <sob:DateOfApprovalOfAnnualReport contextRef="ctx1" id="fact8909">2025-02-19</sob:DateOfApprovalOfAnnualReport>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx24" id="fact9854" xml:lang="en">Peter Halling</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx24" id="fact9855" xml:lang="en">President &amp; CEO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx25" id="fact9856" xml:lang="en">Claus Steensen SÃ¸lje</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx25" id="fact9857" xml:lang="en">Executive Vice President &amp; CFO</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx26" id="fact9859" xml:lang="en">SÃ¸ren Niegel</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx26" id="fact9860" xml:lang="en">Executive Vice President, Commercial Operations</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfExecutiveBoard contextRef="ctx27" id="fact9862" xml:lang="en">Henriette Mersebach</cmn:NameAndSurnameOfMemberOfExecutiveBoard>
   <cmn:TitleOfMemberOfExecutiveBoard contextRef="ctx27" id="fact9863" xml:lang="en">Executive Vice President, Research &amp; Development</cmn:TitleOfMemberOfExecutiveBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx28" id="fact9865" xml:lang="en">Anders Hedegaard</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx32" id="fact9870" xml:lang="en">Lene Skole</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx28" id="fact9866" xml:lang="en">Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:TitleOfMemberOfSupervisoryBoard contextRef="ctx32" id="fact9871" xml:lang="en">Vice Chair</cmn:TitleOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx29" id="fact9867" xml:lang="en">Gitte Aabo</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx33" id="fact9872" xml:lang="en">Lars Holmqvist</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx34" id="fact9873" xml:lang="en">Alan Main</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx36" id="fact9875" xml:lang="en">Jesper HÃ¸iland</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx37" id="fact9876" xml:lang="en">Katja Barnkob</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx38" id="fact9877" xml:lang="en">Johan Smedsrud</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx30" id="fact9868" xml:lang="en">Bertil Lindmark</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx31" id="fact9869" xml:lang="en">Nanna Rassov Carlson</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <cmn:NameAndSurnameOfMemberOfSupervisoryBoard contextRef="ctx35" id="fact9874" xml:lang="en">Lise Lund MÃ¦rkedahl</cmn:NameAndSurnameOfMemberOfSupervisoryBoard>
   <arr:IndependentAuditorsReportsAudit contextRef="ctx1" id="fact8910" xml:lang="en">Independent Auditorâs Reports Â </arr:IndependentAuditorsReportsAudit>
   <arr:KeyAuditMattersAudit contextRef="ctx1" id="fact8983" xml:lang="en">Key audit matters Â  Key audit matters are those matters that, in our professional judgement, were of most signif- Â  icance in our audit of the Financial Statements for 2024. These matters were addressed in Â  the context of our audit of the Financial Statements as a whole, and in forming our opinion Â  thereon, and we do not provide a separate opinion on these matters. Â  Key audit matter Â  Revenue recognition and related Â  sales deductions Â  The Group sells products in certain markets Â  subject to various rebate and discount Â  arrangements and mandated price adjust- Â  ments schemes. These arrangements Â  and schemes result in deductions to gross Â  revenue in arriving at net revenue and in Â  accruals for estimated sales deductions. Â  We focused on these areas as accounting Â  for rebates, discounts and mandated price Â  adjustments is complex and requires a Â  high degree of estimation by Management. Â  This includes the estimation uncertainty Â  regarding accruals for estimated sales Â  deductions. Â  We refer to note 2.1 in the consolidated Â financial statements. Â  How our audit addressed Â  the key audit matter Â  We discussed the policies for revenue recog- Â  nition, including accounting for rebates, Â  discounts and mandated price adjustments Â  with Management. Â  We performed risk assessment procedures Â  to obtain an understanding of the IT systems, Â  business processes and relevant controls for Â  revenue recognition and related sales deduc- Â  tions. We assessed whether the controls were Â  designed and implemented to effectively Â  address the risk of material misstatement. Â  We evaluated and challenged the assump- Â  tions and estimates, including methods, data Â  and assumptions used for calculating rebates, Â  discounts and mandated price adjustments Â  and accruals for sales deductions. Â  We assessed the appropriateness of the Â  related disclosure provided in the consoli- Â  dated financial statements. Â </arr:KeyAuditMattersAudit>
   <arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" id="fact8911" xml:lang="en">To the shareholders of ALK-AbellÃ³ A/S Â </arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
   <arr:AuditorsReportOnFinancialStatements contextRef="ctx1" id="fact8912" xml:lang="en">Report on the audit of Â  the Financial Statements Â </arr:AuditorsReportOnFinancialStatements>
   <arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx1" id="fact8946" xml:lang="en">Basis for opinion Â  We conducted our audit in accordance with Inter- Â  national Standards on Auditing (ISAs) and the Â  additional requirements applicable in Denmark. Â  Our responsibilities under those standards and Â  requirements are further described in the Auditorâs Â responsibilities for the audit of the Financial State- Â  ments section of our report. Â We believe that the audit evidence we have Â  obtained is sufficient and appropriate to provide a Â  basis for our opinion. Â  Independence Â  We are independent of the Group in accordance with Â  the International Ethics Standards Board for Account- Â  antsâ International Code of Ethics for Professional Â  Accountants (IESBA Code) and the additional ethical Â  requirements applicable in Denmark. We have also Â  fulfilled our other ethical responsibilities in accord- Â  ance with these requirements and the IESBA Code. Â  To the best of our knowledge and belief, prohibited Â  non-audit services referred to in Article 5(1) of Â  Regulation (EU) No 537/2014 were not provided. Â Appointment Â  We were first appointed auditors of ALK-AbellÃ³ A/S Â  on 11 March 2020 for the financial year 2020. We Â have been reappointed annually by shareholder Â  resolution for a total period of uninterrupted engage- Â  ment of 5 years including the financial year 2024. Â </arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
   <arr:OpinionOnAuditedFinancialStatements contextRef="ctx1" id="fact8914" xml:lang="en">Our opinion Â  In our opinion, the Consolidated Financial State- Â  ments give a true and fair view of the Groupâs Â  financial position at 31 December 2024 and of the Â  results of the Groupâs operations and cash flows for Â  the financial year 1 January to 31 December 2024 Â  in accordance with IFRS Accounting Standards as Â  adopted by the EU and further requirements in the Â  Danish Financial Statements Act. Â  Moreover, in our opinion, the Parent Company Â  Financial Statements give a true and fair view Â  of the Parent Companyâs financial position at Â  31 December 2024 and of the results of the Parent Â  Companyâs operations for the financial year Â  1 January to 31 December 2024 in accordance with Â  the Danish Financial Statements Act. Â  Our opinion is consistent with our Auditorâs Long- Â  form Report to the Audit Committee and the Board Â  of Directors. Â  What we have audited Â  The Consolidated Financial Statements (pp 106-145) Â  and the Parent Company Financial Statements (pp Â  146-156) of ALK-AbellÃ³ A/S for the financial year Â  1 January to 31 December 2024 comprise income Â  statement, balance sheet, statement of changes Â  in equity and notes, including material accounting Â  policy information for the Group as well as for the Â  Parent Company, and statement of comprehensive Â  income and cash flow statement for the Group. Â  Collectively referred to as the âFinancial Statementsâ. Â </arr:OpinionOnAuditedFinancialStatements>
   <arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx1" id="fact9032" xml:lang="en">Statement on Managementâs Review Â  Management is responsible for Managementâs Â  Review (pp 1-105 and 164). Â  Our opinion on the Financial Statements does not Â  cover Managementâs Review, and we do not as Â  part of the audit express any form of assurance Â  conclusion thereon. Â  In connection with our audit of the Financial Â  Statements, our responsibility is to read Manage- Â  mentâs Review and, in doing so, consider whether Â  Managementâs Review is materially inconsistent Â  with the Financial Statements or our knowledge Â  obtained in the audit, or otherwise appears to be Â  materially misstated. Â  Moreover, we considered whether Manage- Â  mentâs Review includes the disclosures required Â  by the Danish Financial Statements Act. This does Â  not include the requirements in paragraph 99 a Â  related to the Sustainability Statement covered by Â  the separate auditorâs limited assurance report Â  hereon. Â  Based on the work we have performed, in our Â  view, Managementâs Review is in accordance Â  with the Consolidated Financial Statements Â  and the Parent Company Financial Statements Â  and has been prepared in accordance with the Â  requirements of the Danish Financial Statements Â  Act, except for the requirements in paragraph Â  99 a related to the Sustainability Statement, cf. Â  above. We did not identify any material misstate- Â  ment in Managementâs Review. Â </arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
   <arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx1" id="fact9087" xml:lang="en">Auditorâs responsibilities for the audit of Â  the Financial Statements Â  Our objectives are to obtain reasonable assur- Â  ance about whether the Financial Statements Â  as a whole are free from material misstate- Â  ment, whether due to fraud or error, and to Â  issue an auditorâs report that includes our Â  opinion. Reasonable assurance is a high level of Â  assurance, but is not a guarantee that an audit Â  conducted in accordance with ISAs and the addi- Â  tional requirements applicable in Denmark will Â  always detect a material misstatement when it Â  exists. Misstatements can arise from fraud or Â  error and are considered material if, individually Â  or in the aggregate, they could reasonably be Â  expected to influence the economic decisions of Â  users taken on the basis of these Financial State- Â  ments. Â  As part of an audit in accordance with ISAs Â  and the additional requirements applicable in Â  Denmark, we exercise professional judgement Â  and maintain professional scepticism throughout Â  the audit. We also: Â  â¢ IdentifyÂ and assess the risks of material Â misstatement of the Financial Statements, Â  whether due to fraud or error, design and Â  perform audit procedures responsive to those Â  risks, and obtain audit evidence that is suffi- Â  cient and appropriate to provide a basis for Â  our opinion. The risk of not detecting a material Â  misstatement resulting from fraud is higher Â  than for one resulting from error, as fraud may Â  involve collusion, forgery, intentional omis- Â  sions, misrepresentations, or the override of Â  internal control. Â  â¢ ObtainÂ an understanding of internal control Â relevant to the audit in order to design audit Â  procedures that are appropriate in the circum- Â  stances, but not for the purpose of expressing Â  an opinion on the effectiveness of the Groupâs Â  and the Parent Companyâs internal control. Â  â¢ EvaluateÂ the appropriateness of accounting Â policies used and the reasonableness of Â  accounting estimates and related disclosures Â  made by Management. Â  â¢ ConcludeÂ on the appropriateness of Manage- Â mentâs use of the going concern basis of Â  accounting and based on the audit evidence Â  obtained, whether a material uncertainty Â  exists related to events or conditions that Â  may cast significant doubt on the Groupâs and Â  the Parent Companyâs ability to continue as a Â  going concern. If we conclude that a material Â  uncertainty exists, we are required to draw Â  attention in our auditorâs report to the related Â  disclosures in the Financial Statements or, if Â  such disclosures are inadequate, to modify Â  our opinion. Our conclusions are based on the Â  audit evidence obtained up to the date of our Â  auditorâs report. However, future events or Â  conditions may cause the Group or the Parent Â  Company to cease to continue as a going Â  concern. Â  â¢ EvaluateÂ the overall presentation, structure Â and content of the Financial Statements, Â  including the disclosures, and whether the Â  Financial Statements represent the underlying Â  transactions and events in a manner that gives Â  a true and fair view. Â  â¢ PlanÂ and perform the group audit to obtain Â sufficient appropriate audit evidence Â  regarding the financial information of the Â  entities or business units within the group as Â  a basis for forming an opinion on the Consol- Â  idated Financial Statements. We are respon- Â  sible for the direction, supervision and review Â  of the audit work performed for purposes of the Â  group audit. We remain solely responsible for Â  our audit opinion. Â  We communicate with those charged with Â  governance regarding, among other matters, the Â  planned scope and timing of the audit and signifi- Â  cant audit findings, including any significant defi- Â  ciencies in internal control that we identify during Â  our audit. Â  We also provide those charged with governance Â  with a statement that we have complied with rele- Â  vant ethical requirements regarding independ- Â  ence, and to communicate with them all relation- Â  ships and other matters that may reasonably be Â  thought to bear on our independence and, where Â  applicable, actions taken to eliminate threats or Â  safeguards applied. Â  From the matters communicated with those Â  charged with governance, we determine those Â  matters that were of most significance in the Â  audit of the Financial Statements of the current Â  period and are therefore the key audit matters. Â  We describe these matters in our auditorâs report Â  unless law or regulation precludes public disclo- Â  sure about the matter. Â </arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
   <arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx1" id="fact9063" xml:lang="en">Managementâs responsibilities for Â  the Financial Statements Â  Management is responsible for the preparation of Â  consolidated financial statements that give a true Â  and fair view in accordance with IFRS Accounting Â  Standards as adopted by the EU and further Â  requirements in the Danish Financial Statements Â  Act and for the preparation of parent company Â  financial statements that give a true and fair Â  view in accordance with the Danish Financial Â  Statements Act, and for such internal control as Â  Management determines is necessary to enable Â  the preparation of financial statements that are Â  free from material misstatement, whether due to Â  fraud or error. Â  In preparing the Financial Statements, Manage- Â  ment is responsible for assessing the Groupâs Â  and the Parent Companyâs ability to continue as a Â  going concern, disclosing, as applicable, matters Â  related to going concern and using the going Â  concern basis of accounting unless Management Â  either intends to liquidate the Group or the Parent Â  Company or to cease operations, or has no real- Â  istic alternative but to do so. Â </arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
   <arr:AuditorsReportOnXbrlTagging contextRef="ctx1" id="fact9202" xml:lang="en">Report on compliance with Â  the ESEF Regulation Â  As part of our audit of the Financial Statements Â  we performed procedures to express an opinion Â  on whether the annual report of ALK-AbellÃ³ A/S Â  for the financial year 1 January to 31 December Â  2024 with the filename alk-2024-12-31-en.zip is Â  prepared, in all material respects, in compliance Â  with the Commission Delegated Regulation (EU) Â  2019/815 on the European Single Electronic Â  Format (ESEF Regulation) which includes require- Â  ments related to the preparation of the annual Â  report in XHTML format and iXBRL tagging of the Â  Consolidated Financial Statements including Â  notes. Â  Management is responsible for preparing an Â  annual report that complies with the ESEF Regu- Â  lation. This responsibility includes: Â  â¢ TheÂ preparing of the annual report in XHTML Â format; Â  â¢ TheÂ selection and application of appropriate Â iXBRL tags, including extensions to the ESEF Â  taxonomy and the anchoring thereof to Â  elements in the taxonomy, for all financial infor- Â  mation required to be tagged using judgement Â  where necessary; Â  â¢ EnsuringÂ consistency between iXBRL tagged Â data and the Consolidated Financial State- Â  ments presented in human-readable format; Â  and Â  â¢ ForÂ such internal control as Management Â determines necessary to enable the prepara- Â  tion of an annual report that is compliant with Â  the ESEF Regulation. Â  Our responsibility is to obtain reasonable assur- Â  ance on whether the annual report is prepared, Â  in all material respects, in compliance with the Â  ESEF Regulation based on the evidence we have Â  obtained, and to issue a report that includes Â  our opinion. The nature, timing and extent of Â  procedures selected depend on the auditorâs Â  judgement, including the assessment of the risks Â  of material departures from the requirements set Â  out in the ESEF Regulation, whether due to fraud Â  or error. The procedures include: Â  â¢ TestingÂ whether the annual report is prepared Â in XHTML format; Â  â¢ ObtainingÂ an understanding of the companyâs Â iXBRL tagging process and of internal control Â  over the tagging process; Â  â¢ EvaluatingÂ the completeness of the iXBRL Â tagging of the Consolidated Financial State- Â  ments including notes; Â  â¢ EvaluatingÂ the appropriateness of the compa- Â nyâs use of iXBRL elements selected from the Â  ESEF taxonomy and the creation of extension Â  elements where no suitable element in the ESEF Â  taxonomy has been identified; Â  â¢ EvaluatingÂ the use of anchoring of extension Â elements to elements in the ESEF taxonomy; Â  and Â  â¢ ReconcilingÂ the iXBRL tagged data with the Â audited Consolidated Financial Statements Â  including notes. Â  In our opinion, the annual report of ALK-AbellÃ³ Â  A/S for the financial year 1 January to 31 Â  December 2024 with the file name alk-2024-12- Â  31-en.zip is prepared, in all material respects, in Â  compliance with the ESEF Regulation. Â </arr:AuditorsReportOnXbrlTagging>
   <arr:SignatureOfAuditorsPlace contextRef="ctx1" id="fact9291" xml:lang="en">Hellerup</arr:SignatureOfAuditorsPlace>
   <arr:SignatureOfAuditorsDate contextRef="ctx1" id="fact9292">2025-02-19</arr:SignatureOfAuditorsDate>
   <cmn:NameOfAuditFirm contextRef="ctx43" id="fact9898" xml:lang="en">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
   <cmn:NameOfAuditFirm contextRef="ctx42" id="fact9888" xml:lang="en">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx43" id="fact9897">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx42" id="fact9890">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx42" id="fact9891" xml:lang="en">Lars Baungaard</cmn:NameAndSurnameOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx42" id="fact9892" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx42" id="fact9893" xml:lang="en">mne23331</cmn:IdentificationNumberOfAuditor>
   <cmn:NameAndSurnameOfAuditor contextRef="ctx43" id="fact9894" xml:lang="en">Kim Tromholt</cmn:NameAndSurnameOfAuditor>
   <cmn:DescriptionOfAuditor contextRef="ctx43" id="fact9895" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
   <cmn:IdentificationNumberOfAuditor contextRef="ctx43" id="fact9896" xml:lang="en">mne33251</cmn:IdentificationNumberOfAuditor>
   <arr:AuditorsReportOnSubstainabilityReport contextRef="ctx1" id="fact9293" xml:lang="en">Independent auditorâs limited assurance report on Â  the Sustainability Statement Â  To the stakeholders of ALK-AbellÃ³ A/S Â  Basis for conclusion Â  Our firm applies International Standard on Â  â¢ assessmentÂ of the materiality of the identi- Â We conducted our limited assurance engagement Â  Quality Management 1, which requires the firm Â  fied impacts, risks and opportunities related Â  Limited assurance conclusion Â  in accordance with International Standard on Â  to design, implement and operate a system of Â  to sustainability matters by selecting and Â  We have conducted a limited assurance Â  Assurance Engagements (ISAE) 3000 (Revised), Â  quality management including policies or proce- Â  applying appropriate thresholds; and Â  engagement on the sustainability statement Â  Assurance engagements other than audits or Â  dures regarding compliance with ethical require- Â  of ALK-AbellÃ³ A/S (the âGroupâ) included in Â  reviews of historical financial information (âISAE Â ments, professional standards and applicable Â  â¢ makingÂ assumptions that are reasonable in the Â Managementâs Review, page 36-105, for the Â  3000 (Revised)â) and the additional require- Â  legal and regulatory requirements. Â  circumstances. Â  financial year 1 January â 31 December 2024 (the Â  ments applicable in Denmark. Â  âSustainability Statementâ). Â  Managementâs responsibilities for Â  Management is further responsible for prepa- Â  The procedures in a limited assurance engage- Â  the Sustainability Statement Â  ration of the Sustainability Statement, which Â  Based on the procedures we have performed Â  ment vary in nature and timing from, and are Â  Management is responsible for designing and Â  includes the information identified by the Â  and the evidence we have obtained, nothing has Â  less in extent than for, a reasonable assurance Â implementing a process to identify the informa- Â  Process, in accordance with the Danish Financial Â  come to our attention that causes us to believe Â  engagement. Consequently, the level of assur- Â  tion reported in the Sustainability Statement in Â  Statements Act paragraph 99 a, including: Â  that the Sustainability Statement is not prepared, Â  ance obtained in a limited assurance engage- Â  accordance with ESRS and for disclosing this Â  in all material respects, in accordance with the Â  ment is substantially lower than the assurance Â  Process as included in section âDescription of the Â  â¢ complianceÂ with ESRS; Â Danish Financial Statements Act paragraph 99 a, Â  that would have been obtained had a reasonable Â  process to identify and assess material impacts, Â  including: Â  assurance engagement been performed. Â  risks and opportunitiesâ of the Sustainability Â  â¢ preparingÂ the disclosures as included in Â Statement. This responsibility includes: Â  subsection âEU Taxonomyâ of the Sustainability Â  â¢ complianceÂ with the European Sustainability Â We believe that the evidence we have obtained Â  Statement, in compliance with Article 8 of the Â  Reporting Standards (ESRS), including that the Â  is sufficient and appropriate to provide a basis Â  â¢ understandingÂ the context in which the Groupâs Â Taxonomy Regulation; Â process carried out by Management to identify Â  for our conclusion. Our responsibilities under this Â  activities and business relationships take Â  the information reported in the Sustainability Â  standard are further described in the Auditorâs Â place and developing an understanding of its Â  â¢ designing,Â implementing and maintaining Â Statement (the âProcessâ) is in accordance Â  responsibilities for the assurance engagement Â  affected stakeholders; Â  such internal control that Management deter- Â  with the description set out in section âDescrip- Â  section of our report. Â  mines is necessary to enable preparation of Â  tion of the process to identify and assess mate- Â  â¢ identificationÂ of the actual and potential Â the Sustainability Statement that is free from Â  rial impacts, risks and opportunitiesâ; and Â  Our independence and quality management Â  impacts (both negative and positive) related Â  material misstatement, whether due to fraud or Â  We are independent of the Group in accordance Â  to sustainability matters, as well as risks and Â  error; and Â  â¢ complianceÂ of the disclosures in subsection âEU Â with the International Ethics Standards Board Â  opportunities that affect, or could reasonably Â  Taxonomyâ within the environmental section Â for Accountantsâ International Code of Ethics for Â  be expected to affect, the Groupâs financial Â  â¢ theÂ selection and application of appropriate Â of the Sustainability Statement with Article 8 Â  Professional Accountants (IESBA Code) and the Â  position, financial performance, cash flows, Â  sustainability reporting methods and making Â  of EU Regulation 2020/852 (the âTaxonomy Â  additional ethical requirements applicable in Â  access to finance or cost of capital over the Â  assumptions and estimates that are reason- Â  Regulationâ). Â  Denmark. We have also fulfilled our other ethical Â  short-, medium-, or long-term; Â  able in the circumstances. Â  responsibilities in accordance with these require- Â  ments and the IESBA Code. Â  Inherent limitations in preparing the Sustaina- Â  â¢ DesigningÂ and performing procedures to eval- Â reviewing the Groupâs internal documentation Â  bility Statement Â  uate whether the Process is consistent with the Â  of its Process; and Â  In reporting forward-looking information in Â  Groupâs description of its Process, as disclosed Â  accordance with ESRS, Management is required Â  in section âDescription of the process to iden- Â  â¢ EvaluatedÂ whether the evidence obtained Â to prepare forward-looking information on the Â  tify and assess material impacts, risks and Â  from our procedures about the Process imple- Â  basis of disclosed assumptions about events Â  opportunitiesâ of the Sustainability Statement. Â  mented by the Group was consistent with the Â  that may occur in the future and possible future Â  description of the Process set out in section Â  actions by the Group. Actual outcomes are likely Â  Our other responsibilities in respect of the Â  âDescription of the process to identify and Â  to be different since anticipated events frequently Â  Sustainability Statement include: Â  assess material impacts, risks and opportuni- Â  do not occur as expected. Â  tiesâ of the Sustainability Statement. Â  â¢ IdentifyingÂ where material misstatements are Â Auditorâs responsibilities for the assurance Â  likely to arise, whether due to fraud or error; Â  In conducting our limited assurance engagement, Â  engagement Â  and Â  with respect to the Sustainability Statement, we: Â  Our responsibility is to plan and perform the Â  assurance engagement to obtain limited assur- Â  â¢ DesigningÂ and performing procedures respon- Â â¢ ObtainedÂ an understanding of the Groupâs Â ance about whether the Sustainability Statement Â  sive to disclosures in the Sustainability State- Â  reporting processes relevant to the prepara- Â  is free from material misstatement, whether Â  ment where material misstatements are likely Â  tion of its Sustainability Statement, including Â  due to fraud or error, and to issue a limited Â  to arise. The risk of not detecting a material Â  the consolidation processes, by obtaining an Â  assurance report that includes our conclusion. Â  misstatement resulting from fraud is higher Â  understanding of the Groupâs control envi- Â  Misstatements can arise from fraud or error and Â  than for one resulting from error, as fraud may Â  ronment, processes and information systems Â  are considered material if, individually or in the Â  involve collusion, forgery, intentional omis- Â  relevant to the preparation of the Sustaina- Â  aggregate, they could reasonably be expected to Â  sions, misrepresentations, or the override of Â  bility Statement but not evaluating the design Â  influence decisions of users taken on the basis of Â  internal control. Â  of particular control activities, obtaining Â  the Sustainability Statement as a whole. Â  evidence about their implementation or testing Â  Summary of the work performed Â  their operating effectiveness; Â  As part of a limited assurance engagement in Â  A limited assurance engagement involves Â  accordance with ISAE 3000 (Revised) we exercise Â  performing procedures to obtain evidence about Â  â¢ EvaluatedÂ whether the information identified Â professional judgement and maintain profes- Â  the Sustainability Statement. The nature, timing Â  by the Process is included in the Sustainability Â  sional scepticism throughout the engagement. Â  and extent of procedures selected depend on Â  Statement; Â  professional judgement, including the identifica- Â  Our responsibilities in respect of the Process Â  tion of disclosures where material misstatements Â  â¢ EvaluatedÂ whether the structure and the pres- Â include: Â  are likely to arise, whether due to fraud or error, Â  entation of the Sustainability Statement are in Â  in the Sustainability Statement. Â  accordance with ESRS; Â  â¢ ObtainingÂ an understanding of the Process, but Â not for the purpose of providing a conclusion on Â  In conducting our limited assurance engagement, Â  â¢ PerformedÂ inquiries of relevant personnel and Â the effectiveness of the Process, including the Â  with respect to the Process, we: Â  analytical procedures on selected information Â  outcome of the Process; Â  in the Sustainability Statement; Â  â¢ ObtainedÂ an understanding of the Process by Â â¢ ConsideringÂ whether the information identified Â performing inquiries to understand the sources Â  â¢ PerformedÂ limited substantive assurance Â addresses the applicable disclosure require- Â  of the information used by Management; and Â  procedures on selected information in the Â  ments of ESRS; and Â  Sustainability Statement; Â  â¢ WhereÂ applicable, compared disclosures in Â the Sustainability Statement with the corre- Â  sponding disclosures in the Financial State- Â  ments and Managementâs Review; Â  â¢ EvaluatedÂ the methods, assumptions and data Â for developing estimates and forward-looking Â  information; and Â  â¢ ObtainedÂ an understanding of the Groupâs Â process to identify taxonomy-eligible and Â  taxonomy-aligned economic activities and the Â  corresponding disclosures in the Sustainability Â  Statement. Â  Other matter Â  The comparative information included in the Â  Sustainability Statement was not subject to an Â  assurance engagement. Our conclusion is not Â  modified in respect of this limitation of scope. Â </arr:AuditorsReportOnSubstainabilityReport>
   <arr:SignatureOfSubstainabilityAuditorsPlace contextRef="ctx1" id="fact9588" xml:lang="en">Hellerup</arr:SignatureOfSubstainabilityAuditorsPlace>
   <arr:SignatureOfSubstainabilityAuditorsDate contextRef="ctx1" id="fact9589">2025-02-19</arr:SignatureOfSubstainabilityAuditorsDate>
   <cmn:NameOfAuditFirmSubstainability contextRef="ctx39" id="fact9878" xml:lang="en">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirmSubstainability>
   <cmn:IdentificationNumberCvrOfAuditFirmSubstainability contextRef="ctx39" id="fact9880">33771231</cmn:IdentificationNumberCvrOfAuditFirmSubstainability>
   <cmn:NameAndSurnameOfSubstainabilityAuditor contextRef="ctx39" id="fact9881" xml:lang="en">Lars Baungaard</cmn:NameAndSurnameOfSubstainabilityAuditor>
   <cmn:DescriptionOfSubstainabilityAuditor contextRef="ctx39" id="fact9882" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfSubstainabilityAuditor>
   <cmn:fIdentificationNumberOfSubstainabilityAuditor contextRef="ctx39" id="fact9883" xml:lang="en">mne23331</cmn:fIdentificationNumberOfSubstainabilityAuditor>
   <cmn:NameAndSurnameOfSubstainabilityAuditor contextRef="ctx40" id="fact9884" xml:lang="en">Kim Tromholt</cmn:NameAndSurnameOfSubstainabilityAuditor>
   <cmn:DescriptionOfSubstainabilityAuditor contextRef="ctx40" id="fact9885" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfSubstainabilityAuditor>
   <cmn:fIdentificationNumberOfSubstainabilityAuditor contextRef="ctx40" id="fact9886" xml:lang="en">mne33251</cmn:fIdentificationNumberOfSubstainabilityAuditor>
</xbrli:xbrl>