Annual Report 2023 (eng) - Flipbook - Side 56
INDUSTRIENS PENSIONSFORSIKRING A/S ÅRSRAPPORT 2023
Independent limited
assurance report on
Industriens Pensions ESG
metrics
To the stakeholders of Industriens Pension
Management of Industriens Pensionsforsikring
A/S engaged us to provide limited assurance on
the ESG metrics for the period 1 January – 31
December 2023 stated on pages 22-24.
Our conclusion
Based on the procedures we performed and the
evidence we obtained, nothing came to our
attention that causes us to believe that the ESG
metrics have not been prepared, in all material
respects, in accordance with the methods
specified for data processing developed by
Industriens Pensionsforsikring A/S as stated on
pages 22-24.
This conclusion is to be read in the context of
what we state in the remainder of our report.
What we are assuring
The scope of our work was limited to assurance
regarding the ESG metrics in the section ESG
metrics and data processing on pages 22-24.
Our conclusion was formed providing limited
assurance.
Professional standards applied and level of
assurance
We performed a limited assurance engagement
in accordance with the International Standard on
Assurance engagements 3000 (revised)
‘Assurance Engagements other than Audits and
Reviews of Historical Financial Information’, and,
in respect of the reported greenhouse gas
emissions, in accordance with International
Standard on Assurance Engagements 3410
‘Assurance engagements on greenhouse gas
statements’. The quantification of greenhouse
gas emissions is subject to inherent uncertainty
because of incomplete scientific knowledge
used to determine the emissions factors and the
values needed to combine emissions of different
gasses.
A limited assurance engagement is substantially
less in scope than a high assurance
engagement in relation to both the risk
assessment
procedures,
including
an
understanding of internal control, and the
procedures performed in response to the
assessed risks. Consequently, the level of
assurance obtained in a limited assurance
engagement is substantially lower than the
assurance that would have been obtained had a
INDEPENDENT LIMITED ASSURANCE REPORT ON INDUSTRIENS PENSIONS ESG METRICS
reasonable
performed.
assurance
engagement
been
Our independence and quality control
We have complied with the independence
requirements and other ethical requirements in
the International Ethics Standards Board for
Accountants’ International Code of Ethics for
Professional Accountants (IESBA Code), which is
founded on fundamental principles of integrity,
objectivity, professional competence and due
care, confidentiality and professional behaviour
and ethical requirements applicable in Denmark.
Our audit firm applies International Standard on
Quality Management 1, ISQM 1, requiring us to
design, implement and operate a system of
quality management, including policies or
procedures relating to compliance with ethical
requirements, technical standards, relevant
legislation and other regulation.
Understanding
reporting
measurement methodologies
and
The ESG metrics should be read and understood
together with the methods specified for
calculating data processing, which management
is solely responsible for selecting and applying.
The absence of a significant body of established
practice on which to draw to evaluate and
measure ESG metrics allows for different, but
acceptable, measurement techniques and can
affect comparability between entities and over
time.
Work performed
We are required to plan and perform our work in
order to consider the risk of material
misstatement of the policies for calculating ESG
metrics.
In doing so and based on our
professional judgement, we:
•
Made inquiries and conducted interviews
with Group functions to assess consolidation
processes, use of company-wide systems,
and controls performed at Group level;
•
Checked ESG metrics on a sample basis to
underlying documentation, and evaluated
the appropriateness of quantification
methods and compliance with the methods
specified for data processing to prepare the
ESG metrics;
•
Conducted an analytical review of the ESG
metrics and assessed trend explanations;
•
Evaluated the presentation of ESG metrics in
the annual report for 2023;
•
Evaluated the obtained evidence.
Assessment of other information regarding
ESG and sustainability in the annual report
Management of Industriens Pension A/S is
responsible for other information regarding ESG
and sustainability stated in the annual report for
2023.
Our conclusion regarding the ESG metrics on
pages 22-24 does not cover other information
regarding ESG and sustainability, and we do not
provide an opinion on this. In connection with
our review of the ESG metrics, we have read
other information regarding ESG and
sustainability in the management's review for
2023, and in this context, we have assessed
whether other information regarding ESG and
sustainability is significantly inconsistent with the
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