Decision-making body on sustainability The Board of Directors has overall responsibility for the strategic focus of sustainability and climate work. The Board of Directors also makes decisions on significant investments, such as green investment programmes and certification of properties. Feedback is provided to the Board through a six-monthly board report and an annual oral presentation by the SVP, Director of Sustainable Business. The CEO and the executive management team are responsible for day-to-day operation of the Company and report to the Board of Directors. They are responsible for delivering on targets and strategies and taking decisions on general operational matters, including sustainability. They are also to ensure that systems and processes are in place to monitor and control the Company's operations and risks, including climate-related risks and opportunities. The SVP, Director of Sustainable Business is a member of the executive management team. The Sustainability Committee, consisting of representatives from the executive management team and experts, addresses ongoing issues and decisions relating to sustainability work. In 2021, for example, the Committee discussed supplementary agreements with green provisions that make it possible to work in a structured way on sustainability in Property Management as well. The Sustainability Committee is also active in the green investment programmes and the BREEAM certification process for all properties in Operator Activities. The SVP, Director of Sustainable Business convenes committee meetings. The SVP, Director of Sustainable Business is responsible for ensuring that sustainability is integrated into Pandox's day-to-day operations in consultation with individuals responsible for the relevant areas, who are often the heads of the business areas. The Director's participation in executive management meetings ensures that sustainability is always high up on the agenda and integrated into the Company's business. The SVP, Director of Sustainable Business also leads the Sustainability Forum attended by experts, property development managers and administrators who run the green investment programmes and BREEAM certification of properties in Operator Activities. In 2021 there was a focus on following up on the progress of the next green investment programme's launch. The SVP, Director of Sustainable Business reports sustainability performance to executive management on a continual basis and reports to the hotel managers in the Operator Activities segment through, among other things, the quarterly Green Update reports. Sustainability is also a permanent element of the strategic kick-off meetings held twice a year for the executive management team, board representatives, head office employees, Property Management representatives, and key decision-makers within Operator Activities. Pandox appointed additional personnel in 2021 to manage the sustainability project and reporting process.