E1 – Climate Change

In 2020, Acerinox committed to decarbonizing its activity by implementing its Sustainability Master Plan Positive Impact 360º. One of its pillars is eco-efficiency and climate change mitigation. The Master Plan set the target of a 20% reduction in GHG emissions intensity (Scope 1 and 2) by 2030, using 2015 as the base year for the Stainless Steel Division. This was extended to the entire Group in 2024.

Among the initiatives implemented by the Group's entities to fulfill this commitment are the improvement of energy efficiency, the promotion of heat recovery systems, the electrification of systems and vehicle fleets, and the increased use of renewable energies.

In 2024, it took a further step in the transition to climate change mitigation with the creation of a Decarbonization Plan through 2030 that integrates existing and new initiatives to drive the decarbonization of operations and the value chain. It also integrates the decarbonization initiatives included in the new Beyond Excellence 2024-2026 efficiency plan, approved by the Board of Directors in 2023. The 2025-2030 Decarbonization Plan has the following pillars:

• Improvement of energy efficiency: the adoption of new technologies or machinery that allow better management of process times and more efficient management of consumption.

• Promotion of heat recovery systems from process sources: installation of recovery systems that optimize processes and allow the reuse of the heat generated at the exit of furnaces or boilers. The aim is to increase the efficiency of the recovery process and generate more steam, thus avoiding its production in gas boilers.

• Electrification of systems: replacement of machinery or boilers that use fossil fuels with others that use electricity (e.g. heat pumps).

• Electrification of the vehicle fleet: replacement of the fossil fuel fleet (company cars, vans, forklifts, etc.) with electric vehicles.

• Increased use of renewable energies and, in particular, renewable electricity: signing of green energy purchase contracts with guarantee of origin (GoO), purchase of renewable energy certificates and installation of solar panels for self-supply.

• Use of low-carbon alternative fuels: use of alternative fuels in the production process (e.g. hydrogen/natural gas mix in boilers, use of biomethane, etc.).

• Increased use of scrap: installation or expansion of scrap recovery plants, improved segregation and use of scrap.

• Increased use of low-carbon raw materials or ferroalloys: prioritization of suppliers and purchase of low-carbon raw materials or ferroalloys.

• Others.

The Decarbonization Plan has a bottom-up approach, as it is designed in collaboration with each factory's technical teams and CEOs in alignment with the factory's strategy. It is also aligned with Beyond Excellence 2024-2026, the Group's strategic plan to drive competitiveness across the board.

The Decarbonization Plan does not include climate change adaptation measures. The climate risk analysis will be updated in 2025, and an adaptation plan will be developed based on the results achieved.

The Plan and the proposed emissions reduction targets for each of the factories and at the Group level were presented to the CEOs of the factories and the Group's Chief Executive Officer. They were subsequently approved by the Board of Directors, at the proposal of the Sustainability Committee, in January 2025. The targets will be monitored regularly after approval. At least quarterly, the Sustainability Director reports to the Sustainability Committee on target evaluation.

The Decarbonization Plan sets more ambitious Scopes 1 and 2 emissions reduction targets, with the aim of being compatible with limiting global warming to 1.5°C and aligned with science-based targets (SBTi): Acerinox must reduce Scope 1 and 2 emissions by 45.28% by 2030 compared to 2021. It also sets a Scope 3 emissions reduction target of 15% for the same year. Acerinox is not excluded from the EU benchmarks harmonized with the Paris Agreement.

Transition plan for climate change mitigation

Amadeus has established a comprehensive approach to climate change mitigation as part of its ESG Ambition sustainability strategy. The company's climate commitments are embedded in the "Foster environmental sustainability" pillar of its ESG strategy.

Science-Based Targets Amadeus obtained validation from the Science Based Targets initiative (SBTi) for its near-term and net-zero science-based targets in June 2024. The company has committed to:

Near-term targets (by 2030): • Reduce absolute scope 1 and 2 GHG emissions by 47% by 2030 from a 2019 base year • Reduce scope 3 GHG emissions by 25% per euro of value added by 2030 from a 2019 base year

Long-term target: • Reach net-zero GHG emissions across the value chain by 2050

Strategic Approach Amadeus addresses climate change through three strategic lines within its environmental commitment:

1. Responsible operations: Achieve emissions reductions in line with science-based targets, build and operate energy-efficient technology platforms and applications, guarantee continuous improvement in the use of resources.

2. Environmental solutions enablers: Develop and promote solutions to raise awareness and encourage travelers to choose more sustainable travel options, develop and promote IT solutions to help travel providers reduce their environmental impact.

3. Network collaboration: Promote sustainable travel with travel industry stakeholders and gain influence, reputation, and network.

Implementation Governance The transition plan is governed through Amadeus' established sustainability governance structure: • Board of Directors: Reviews and approves the sustainability strategy including climate commitments • ESG Steering Committee: Monitors progress and makes strategic decisions • Sustainability Office: Oversees implementation and progress tracking • Business units: Execute specific actions and initiatives

Technology and Innovation Amadeus integrates sustainability into its solutions across all customer journey phases from Inspiration to Booking, Pre-trip, On-trip and Post-trip, helping customers improve their environmental efficiency and enabling more sustainable travel decisions.

Transition plan for climate change mitigation

As part of the integrated corporate and sustainability strategy, AMAG has developed the AMAG Decarbonisation Roadmap, which defines measures and milestones for achieving climate targets. The roadmap is based on a holistic approach and includes measures in the areas of energy, processes, raw materials and products. It covers the entire value chain from raw material procurement to product delivery and focuses on Scope 1 and 2 emissions as well as selected Scope 3 emissions.

The transition plan is aligned with the Paris Agreement and aims to achieve CO2-neutral production in the period from 2040 to 2050. The specific targets include:

Scope 1+2: Reduction of CO2 emissions by 40% (specific) or 20% (absolute) by 2030 (base year 2017) Scope 3: Reduction of average specific CO2 emissions from the primary aluminium upstream chain by 20% by 2030 (compared to 2018-2020)

The roadmap includes both short-term and long-term measures:

Short to medium-term measures (2024-2030): › Continued sourcing of 100% renewable electricity › Expansion of photovoltaic systems › Energy efficiency improvements › Increase in recycling rates › Process optimisation › Technology development for alternative reduction processes

Long-term measures (2030-2050): › Implementation of breakthrough technologies for primary aluminium production › Further expansion of renewable energy capacity › Development of hydrogen-based reduction processes › Implementation of carbon capture and utilisation technologies

The transition plan is regularly reviewed and updated based on technological developments, regulatory changes and market conditions. Progress is monitored through specific KPIs and reported annually. The plan is integrated into the company's risk management system and considers potential climate-related risks and opportunities.

The financial implications of the transition plan are assessed regularly, with investments in clean technologies and energy efficiency measures being key components of the capital allocation strategy. The company works closely with suppliers, customers and other stakeholders to ensure alignment throughout the value chain.

Climate change mitigation is a key area of activity in the sustainability strategies of the Beiersdorf Consumer and tesa Business Segments. In 2024, we developed and published a "Climate Transition Plan" that serves as our roadmap to our 2032 climate targets and sets us on the path to Net Zero emissions by 2045. Our climate targets are in line with the "Paris Agreement" and are set out in detail in the sections "Targets related to climate change" and "Metrics related to climate change."

The "Climate Transition Plan", which incorporates requirements of the "Science Based Target initiative (SBTi) Net Zero Standard" and the "Technical Note on Climate Transition Plan" from CDP, is a culmination of collaborative efforts across all business functions. It builds upon sectoral Net Zero transition plans in energy, chemicals, and aluminium. The transition plan is integrated into our vision for the future of our brands and the cosmetics sector. It is aligned with the Beiersdorf business strategy and was approved by the Executive Board in June 2024.

Under our corporate business strategy "Win with Care", we are committed to leading in climate change mitigation. Our strategic choice of performance with purpose is demonstrated by our goal of achieving Net Zero by 2045. This target will be realized through the transformation of our business and our entire value chain, driven by collaborative efforts.

Beiersdorf identified key actions to initiate the decarbonization journey based on an assessment of technical and market readiness. An important building block is the transformation of production infrastructure. Increasing energy efficiency, expanding renewable energies, and electrification are among the key decarbonization levers. As part of the reduction of indirect GHG emissions along the value chain, the focus is on switching to sustainable materials for packaging and ingredients, and low-carbon logistics. Moreover, engaging with suppliers and customers is crucial for achieving our climate targets.

Transition plan for climate change mitigation

Danica does not yet have a transition plan that fully complies with the ESRS disclosure requirements in relation to transition plans. During 2025, Danica expects to collaborate with the Group on developing a group-wide transition plan that is in compliance with the ESRS's disclosure requirements in relation to transition plans. The transition plan will include Danica and be based on the climate targets and actions in the Climate Action Plan, which forms part of the overall business strategy.

The Group's Climate Action Plan covers Danica's climate targets and measures for equity and bond investments in relation to decarbonisation targets for five sectors and Science Based Target initiative SBTi temperature targets, green transition investment targets for the entire investment portfolio and decarbonisation targets for the real estate portfolio.

Danica's target of having a net-zero investment portfolio by 2050 or earlier is anchored with and part of the Danske Bank Group's Climate Action Plan, which was launched in 2023 as a transition plan toward Net Zero for the Danske Bank Group in line with the Paris Agreement. The plan describes primary interim targets and actions to deliver on the 2050 target. The plan is in accordance with Danica's business strategy and constitutes the first step toward a transition plan for Danica. Alongside the work of developing a transition plan, Danica focuses on managing potential risks related to the achievement of a net-zero investment portfolio and adjusts actions to address these.

Danone Climate Transition Plan:

Danone has integrated climate change mitigation into its comprehensive sustainability strategy through the Danone Impact Journey, with specific climate commitments and transition pathways.

Net-Zero Commitment: Danone is committed to achieving Net-Zero emissions across its entire value chain, with science-based targets aligned with limiting global warming to 1.5°C.

Transition Strategy Components:

1. Decarbonization Pathway:

• Scope 1 & 2 emissions reduction through operational efficiency and renewable energy
• 50% of energy from renewable sources by 2030
• Scope 3 emissions reduction through regenerative agriculture and sustainable sourcing

2. Regenerative Agriculture:

• Supporting farmers' transition to regenerative practices
• Moré Holstein farm in Spain became first B Corp™ certified farm in Europe in 2024
• Focus on soil health, biodiversity, and carbon sequestration

3. Renewable Energy Transition:

• Commitment to increase renewable energy use across operations
• Integration of renewable energy projects in production facilities
• Energy efficiency improvements in manufacturing processes

4. Packaging Decarbonization:

• 30% reduction in virgin fossil-based plastic packaging by 2030
• 100% circular packaging by 2030 (reusable, recyclable, or compostable)
• Development of low-carbon packaging alternatives

5. Value Chain Integration:

• Sustainable Sourcing Policy (SSP) launched in 2024 with climate requirements
• Supplier engagement on emission reduction targets
• Raw materials sourcing optimization for lower carbon footprint

Climate Risk Adaptation: Danone updated its climate risks and opportunities assessment in early 2025, addressing:

• Physical risks: impacts on agriculture, water resources, and operations
• Transition risks: regulatory, technology, market, and reputational changes

Governance and Implementation:

• Climate considerations integrated into strategic planning
• Regular monitoring through Company Strategy Department
• Board oversight of climate strategy and progress
• Integration with financial planning and investment decisions

Timeline and Milestones:

• 2030: 50% renewable energy, 30% virgin plastic reduction, 100% circular packaging
• 2040: 50% reduction in virgin fossil-based packaging, effective collection systems
• Long-term: Net-Zero emissions across entire value chain

Investment and Resources: Danone allocates significant resources to climate transition including:

• Research & Innovation investments in low-carbon solutions
• Capital expenditure on renewable energy and efficiency projects
• Partnership investments (e.g., Biotech Open Platform with Michelin)
• Technology development including precision fermentation

Just Transition Considerations: The transition plan considers impacts on workers and communities through:

• Support for farmers transitioning to regenerative practices
• Skills development for employees in new technologies
• Community engagement in watersheds and local ecosystems
• Affordable nutrition maintenance during transition

Transition plan for climate change mitigation

Overall strategy and targets DSB has a target of supplying all our rail journeys and all other operations with renewable energy by 2030. Moreover, we want to reduce the climate impact of our suppliers to ensure that emissions from all our activities reach net zero by 2050.

Target: Reduce Scope 1 and 2 CO2e emissions by at least 8% by 2030

Key investments and initiatives With investments in excess of DKK 45 billion over the next years, DSB is well on its way to offering customers solutions that are even more sustainable when they choose to take the train.

Electric rolling stock transition The core effort is the investment in modern, electric trains. DSB has been given a political mandate to purchase new electric rolling stock in replacement of the ageing diesel-powered train fleet. This is the biggest investment in DSB's history.

• Production of seven IC5 electric train sets has been completed
• It has been agreed that the supplier Alstom will deliver a minimum of 100 electric train sets
• The first electric train sets will be put into passenger service at the beginning of 2027
• DSB purchases 16 new rakes of coaches from the Spanish supplier Talgo to be pulled by EB electric locomotives
• DSB is preparing to convert the current S-train line from a traditional urban railway to a fully automated, driverless transport system, 'S-trains of the Future'

Renewable energy transition In 2024, DSB invested in yet another Power Purchase Agreement (PPA) and entered into an agreement to purchase large amounts of power from a solar park on Lolland. From November 2025, DSB will receive renewable energy equivalent to half of the consumption for S-trains.

For a number of years, DSB has had solar cells on the roofs of Nørreport, Albertslund, Sjælør and Avedøre stations. In 2024, solar cells were installed at Høje Taastrup station.

Sustainable infrastructure New, comprehensive maintenance facilities are needed for the new electric rolling stock. DSB is therefore in the process of building three new workshops: one in Copenhagen, one in Aarhus and one in Næstved. There is a strong focus on sustainability in the builds, and the new workshops are to be certified according to at least DGNB Gold standard.

Green financing In August, DSB completed its first issuance of green bonds. Bonds in a nominal amount of EUR 500 million were issued with a fixed coupon of 3.125 percent and a maturity of 10 years. The bonds were issued under DSB's EMTN (European Medium Term Note) programme. The related Green Bond Framework describes DSB's investments that can be financed with green bonds. The proceeds of the bond issue will be used to purchase new electric rolling stock and construct new workshops.

Carbon offsetting initiatives DSB has entered into a partnership with the Danish Climate Forest Foundation. For each registered business journey, DSB provides a contribution to the Danish Climate Forest Foundation. The contribution is used for afforestation to increase absorption of CO2. Since 2023, DSB has furthermore provided a climate contribution equivalent to the emissions from its own business travels by air.

In 2024, DSB's contribution is expected to finance 6,850 tonnes/CO2e, corresponding to approximately 220,000 m2 of forest, distributed on 6,500 tonnes of CO2 from registered business journeys and 350 tonnes of CO2 from business travels by air.

Transition plan for climate change mitigation

Net Zero Commitment

Eni has embarked on a path that will lead to the decarbonization of processes and products by 2050, considering the emissions generated along the entire life cycle of energy products. This path, achieved through existing and evolving technologies, will allow Eni to break down its carbon footprint, both in terms of net emissions and net carbon intensity.

Target Pathway

Confirmed the Group pathway towards Net Zero by 2050, targeting:

• Net Zero Carbon Footprint upstream by 2030
• Net Zero Carbon Footprint Eni by 2035
• Net Zero GHG Lifecycle Emissions and Net Zero Carbon Intensity by 2050

Transition Technologies

The achievement of the Net Zero goal by 2050 involves the use of available technologies capable of immediately contributing to the reduction of emissions, such as:

Gas as Bridge Energy

Gas component as a bridge energy source in the transition, flanked by investments to reduce CO2 and methane emissions. Eni believes that natural gas has a role as a bridge energy source in the transition, following its accessibility, reliability, versatility and reduced carbon content compared to other fossil fuels.

Biofuels from Organic Sources

Traditional refining technologies applied in the production of biofuels, using raw materials of organic origin, not competing with the food chain in the context of the development of agri-business to contribute to the decarbonisation of transport without sudden changes to existing infrastructures.

Renewable Energy Integration

Renewables through increased installed capacity and integration with the retail business, leveraging a large customer base. Growth of PLENITUDE's installed renewable energy capacity to 15 GW by 2030, enabling it to almost double proforma EBITDA by 2028, to €1.9 billion and grow further to over €2.5 billion by 2030.

Carbon Capture and Storage

Carbon Capture Utilization and/or Storage (CCUS), able to provide a concrete contribution to the reduction of emissions, in particular in hard-to-abate sectors, thanks to the development of hubs for the storage of CO2. Launch in 2025 of the new satellite company related to the CCUS business consolidating the projects in a single entity and leveraging its technical and financial expertise.

Circular Economy Solutions

Technologies for the production of bioplastics and mechanical recycling of used plastics. Versalis transformation includes development of new business platforms such as compounding and specialized polymers, biochemistry and circularity through chemical and mechanical recycling.

Breakthrough Technologies

The scale use of these solutions together with research and development of breakthrough technologies, such as magnetic confinement fusion, can contribute to change the energy paradigm in the long term. Eni is progressing technologies that promise to become breakthrough, namely the magnetic confinement fusion for generating zero-emission electricity, with the goal of starting commercial production at the beginning of the next decade.

Investment Plan

For the next four years, Eni has launched a €33 billion investment plan, equal to €27 billion when considering the contribution of net proceeds from the portfolio program, which will be self-financed through operating cash flows.

Planned expenditures will target:

• Development of upstream projects, mainly gas ones
• Exploration for reserves' replacement
• Build-up of renewable capacity
• Expansion of biorefineries
• Versalis' transformation
• Traditional refinery reconversion

Near-Term Emissions Reduction

Our most recent upstream projects, Baleine in Côte d'Ivoire and Argo/Cassiopea in Italy, are designed to achieve net zero emissions (Scope 1 and 2) from the start-up phase; thanks to these and other efficiency initiatives, net Upstream emissions, in equity share, decreased by 55% in 2024 (vs. 2018 baseline), in line with the Net Zero Upstream goal by 2030.

Methane Emissions Target

In 2024, we published the first Methane Report, reaffirming our goal of reaching near-zero methane emissions by 2030.

Portfolio Transformation

Enilive's target of more than 5 million tonnes of biofuel production capacity by 2030 along with the optionality of SAF to account for more than 2 million tonnes.

Confirmed ENILIVE's target with the capability to generate over 15% of ROACE and probable external investments up to participating interest of about 30%.

Transition plan for climate change mitigation

To meet the aspirational goal of keeping global warming below 1.5° Celsius above pre-industrial levels, as outlined in the 2015 Paris Agreement, GHG emissions globally must be significantly reduced. In 2022, Hilti committed to contributing to this effort by setting GHG emission reduction targets that are aligned with the Science Based Targets initiative (SBTi). In 2024, Hilti's targets were validated by SBTi. Besides having set ambitious medium term targets until 2032, Hilti aims for net-zero emissions by 2050. The Group's targets align with limiting global warming to 1.5°C.

Climate change mitigation plan

The Group developed a climate change mitigation plan to fulfil its SBTi commitment. This plan defines absolute emission reduction targets across the organization and identifies key levers to reduce Scope 1, 2 and 3 emissions and actions to achieve these targets:

Reducing Scope 1 and 2 emissions in sales and manufacturing

Hilti's sales organizations and manufacturing sites are key functions for reducing the Group's Scope 1 and 2 emissions. Key levers and actions are the following:

Transitioning to low-emission and renewable energy sources:

• Internal combustion engine vehicles in Hilti's sales operations are replaced with low-emission vehicles
• By purchasing green electricity certificates globally, the Group ensures that electricity used is from renewable sources
• Fossil fuel sources used for heating and manufacturing activities are replaced with alternatives using renewable energy
• Investing in energy-efficient buildings: Newly constructed buildings owned by Hilti need to meet, at minimum, the international gold standard of the German Sustainable Building Council (DGNB)

Reducing Scope 3 emissions from product development, sourcing and use

Hilti's business units play a key role in reducing Scope 3 emissions, which largely arise from sourcing raw materials, semi-finished goods and finished goods. Their contributions fall under the categories of directly purchased goods and use of sold products. Key levers and actions are the following:

• Shifting to input materials with a lower carbon footprint: Product design incorporates recycled materials instead of high-emission alternatives
• Optimizing product design: Material footprint is lowered by designing lighter products, using less material where possible and optimizing product designs for sustainability
• Scaling circularity initiatives: Tools, spare parts and components that are collected from Hilti's Fleet Management Program are reused for repairs to prevent new materials being used for this purpose
• Decarbonizing supply chain: Procurement is shifted towards suppliers with low-emission practices and strong business partnerships are established with suppliers to ensure that raw materials have a reduced carbon footprint
• Electrification in product use: Fewer emissions in the products' use phase are primarily achieved through the electrification of Hilti's product portfolio, transitioning the remaining fuel-powered tools to electric. While Hilti's tools are already highly energy efficient, achieving full climate impact relies on the continued decarbonization of the electricity grid

Reducing Scope 3 emissions from logistics

Key levers and actions to reduce logistics-related emissions are the following:

• Shifting to low-emission transportation options: High-emission transport options, such as air freight, are shifted to lower-emission alternatives like rail transport. Last-mile delivery is transitioned to fossil-free last solutions, such as trucks powered by HVO fuel or other renewable sources
• Leveraging digital means: The enhancement of digitalized processes and the implementation of digital tools to optimize transport routes, frequency of deliveries and replenishment procedures leads to lower emissions
• Optimizing packaging: Optimized packaging to support multiple uses and the reduction of single-use packaging reduces both emissions and waste

Supporting customers' emission reduction efforts

Hilti helps customers to simplify their CO2 reporting and compliance documentation by providing CO2 data for over two-thirds of its product portfolio (measured by net sales) via Life Cycle Assessments (LCAs). Additionally, Hilti provides environmental product declarations for its solutions to support customers in securing specific levels of green building schemes like Leadership in Energy and Environmental Design (LEED), Building Research Establishment Environmental Assessment Method (BREEAM) and DGNB.

Engaging stakeholders for emissions reduction beyond the value chain

Another key lever for reducing emissions lies in building partnerships and participating in sustainability networks to foster dialog and create engagement beyond Hilti's own value chain. Key actions within this lever are the following:

• The Group collaborates with a variety of research institutes and universities
• Hilti is engaged in sustainability-related associations and working groups. The Group is an active member of the United Nations Global Compact (UNGC) Switzerland/Liechtenstein and of the World Business Council for Sustainable Development (WBCSD)

Target rollout and education

To ensure effective implementation of these levers and actions, and to progress in line with the SBTi commitment, the Group defined targets across all relevant organizational units: sales organizations, manufacturing, business units and logistics. While several levers have advanced in recent years, like transitioning to electric vehicles, reusing spare parts and sourcing materials more sustainably, many others are in earlier stages.

To support the progress, the Group has launched an internal education program on its sustainability learning platform. This platform helps to raise employee awareness, expands knowledge of sustainability-related topics and showcases measures everyone can take to contribute towards achieving the target.

Financial planning

Sustainability is one of the core elements of the Group's overall strategy. Strategic decisions, including financial planning, reflect this commitment. Each organizational unit within the Group considers sustainability-related investments and expenses needed to implement the key levers and achieve the Group's GHG emission reduction targets in their financial planning. In line with these targets, no material capital expenditures were invested in coal, oil and gas-related economic activities during the reporting period.

The Group is not excluded from the EU's Paris-aligned benchmarks.

Locked-in GHG emissions

While Hilti has set emission reduction targets and identified key levers to reach them, some emissions may remain locked in. This primarily affects heating systems that rely on fossil fuels, particularly natural gas. The Group distinguishes between owned and rented real estate assets when addressing these emissions.

For buildings and plants owned by the Group, more ambitious measures are either planned or underway to replace fossil systems, which are already at a low level, with renewable energy sources. In several of the Group's plants, heating systems are being upgraded to electric heat pumps, district heating or biogas.

In rented properties, fixed GHG emissions are lower, since lease contracts eventually end, creating an opportunity to switch to buildings equipped with non-fossil fuel systems. The Group's guidelines take into account regional differences in the availability of highly sustainable rentable buildings.

For new buildings, the Group aims for DGNB gold-standard certification to prevent locked-in GHG emissions from the outset. Additionally, investors constructing for or leasing buildings to the Group are encouraged to adopt high sustainability standards for similar objectives.

Due to relatively short development cycles, the locked-in effect of Hilti's products is immaterial. Emission improvements can be implemented in each development cycle. Nevertheless, Hilti's core sustainability principles are applied to address any potential locked-in GHG emissions.

KONE's first climate change scenario analysis was kicked off in 2022 and finalized in early 2023. Resilience assessment of KONE's critical-to-continuity activities with respect to climate-related risks was part of the analysis. The analysis continues to be reviewed annually as part of KONE's overall risk assessment process and assessed and updated regularly.

In the first phase of the scenario analysis, KONE focused on the qualitative implications of climate-related risks and opportunities in key strategic performance areas of its operations considering the inherent and residual risk after existing treatment actions. KONE aims to quantify the anticipated financial impacts of material physical and transition climate risks upon a future analysis update.

Climate-related risks and opportunities were considered in terms of key strategic performance areas, which covered direct material purchases (representing KONE's upstream value chain), logistics (value chain cross-cutting activity), manufacturing operations and product and service design (representing KONE's own operations). Although KONE's downstream value chain was not directly in the scope, product and service design is closely linked to the downstream value chain. KONE's analysis included how KONE can advise and help customers in preventing damage when their facilities, together with KONE equipment, are exposed to severe weather events, such as hurricanes and floods.

Climate scenarios

The climate scenario assessment utilized several information sources, including the 6th Assessment Report of The Intergovernmental Panel on Climate Change (IPCC) Working Group I, Swiss Re CatNet, and combined SSP-RCP scenarios, i.e. Shared Socioeconomic Pathways (SSPs) informed by the Representative Concentration Pathways (RCPs).

Real world political and societal dynamics may deviate from the assumptions of the SSP-RCP scenarios, such as the level of global cooperation, affecting the feasibility of mitigation and adaptation measures. Other constraints relate to assumptions on the availability and use of natural resources, the feasibility of technological advancements and their implementation and the effectiveness and implementation of policies.

The selected scenarios are considered representative of KONE's risks and uncertainties, as they combine a range of plausible warming pathways and related socio-economic developments, which may influence the global megatrends that support KONE's strategy, and which will have a direct impact in KONE's day-to-day operating environment.

Scenario comparison:

KONE's resilience under the scenarios

KONE has a climate pledge with science-based targets for significant GHG emissions reductions in line with limiting global warming to 1.5°C, which is currently the most ambitious criteria for setting science-based targets.

In the '1.5°C low carbon' scenario, KONE's business strategy is resilient, as demand for energy efficient, sustainable and climate resilient solutions increases already in the short term, and in the medium term there is full transformation to renewable energy and electrification that creates opportunities for KONE. Physical changes may cause occasional disruptions to KONE factories and supply chain. However, KONE's efforts to enhance its ability to anticipate, prepare for, respond to, and adapt to disruptions will keep business interruptions limited and mainly recoverable without material losses.

In the '2.7°C, middle of the road' scenario, in the short to medium term, tighter policies promote demand for KONE's energy efficient product offering, but only in selected markets and countries committed to the Paris Agreement. KONE's business strategy faces some resilience challenges, as with less policy incentive to innovate, the advancement in material efficiency, recycling infrastructure and new materials is slower in the short to medium term, but may accelerate in the long term, when regulators recognize the need to take actions. Global supply chains and logistic routes may face notable disruptions, affecting KONE's business.

In the '4°C high carbon' scenario, emissions continue to rise, the transition to a low-carbon economy is disorganized, economic growth is preferred over climate action and overconsumption of resources continues over the medium to long term. In this scenario, KONE's business strategy faces the most resilience challenges, as the demand for sustainable and climate resilient solutions grows only in advanced economies or among select customer groups. Even so, most of KONE's strategic choices will still be relevant. Particularly in the long term, extreme weather conditions increase disruptions in supply chains and logistic routes, which may lead to significant logistic cost increases. In the medium term, changes may be required in KONE's product design for the equipment to bear extreme heat and humidity in order to operate under such conditions.

KONE considers the current and future projected exposures to acute and chronic physical climate change impacts when investing into and selecting new manufacturing or distribution center locations or expanding existing ones. However, KONE's ability to influence suppliers or customers in the selection of their operating locations is limited. Due to KONE's global footprint, KONE is able to diversify its supply and delivery chain, making KONE less dependent on particularly exposed locations from time to time. Furthermore, KONE utilizes special, location-based software tools to regularly monitor its supply chain locations, including supplier manufacturing locations and physical risks relevant to climate change. This increases KONE 's speed to switch to predefined alternative supply chains, if needed.

KONE's new strategy, 'Rise', emphasizes actions to cut carbon emissions in alignment with the Paris Agreement and the '1.5°C low carbon' scenario. Sustainability is integrated into the strategy as a key driver of profitable growth and differentiation.

When conducting the scenario assessment, KONE has not identified any assets or business activities that are incompatible with or need significant efforts to be compatible with a transition to a climate-neutral economy. There are no critical climate-related assumptions in KONE's financial statements.

Transition plan

KONE is committed to a 50% cut in the Scope 1 and 2 emissions from its own operations by 2030, compared to a 2018 baseline, and has pledged to have carbon neutral operations by 2030. This target is in line with limiting global warming to 1.5°C, which is currently the most ambitious criteria for setting science-based targets. Additionally, KONE targets a 40% reduction in the emissions related to its products' materials and lifetime energy use (Scope 3 emissions) over the same period, relative to orders received.

In addition, KONE is committed to reduce electricity consumption in its own operations and has set a target to increase the share of renewable electricity to more than 90% by the end of 2023 and to 100% by 2030. KONE has also increased the share of renewable electricity faster than originally planned by reaching 97% already in 2023. Due to this progress and systematic work in 2024, KONE set the target to increase the share of renewable electricity to 98% during 2024. In 2024, KONE reached a 99% share of renewable electricity.

KONE's new strategy has a strong emphasis on emission reduction targets as one of the core strategic shifts. To support the ongoing green transformation, KONE has a Climate and Environmental Excellence Program which is centered around four focus areas: partner with customer, offering, operations, and mindset and behavior.

KONE has identified the following key decarbonization levers to reach its science-based targets by 2030 in its own operations (Scope 1 and 2) and value chain (Scope 3): • Scope 1: fleet transformation to electrical vehicles (EVs) and increasing use of renewable energy • Scope 2: increase use of renewable electricity and other renewable energy sources • Scope 3: increase share of energy-efficient electrification systems and regenerative drives, increase material efficiency, systematically engaging with suppliers, product innovations and partnerships

Climate Transition Plan

Presentation of group-wide targets and strategic actions to achieve our climate targets as part of our overall business strategy:

• Positive contribution to climate change mitigation
• Transition to a low-emission circular economy
• Significant reduction in GHG emissions
• Transparent reporting on progress through annual update

Scope: Entire value chain
Responsibility: Corporate Sustainability, Executive Board
Third-party standards and initiatives: Paris Climate Agreement, Greenhouse Gas Protocol, Science Based Targets initiative
Communication: Corporate website; internal communication channels such as: SharePoint, Intranet, Executive Board

*We recognise the importance of assessing potential locked-in GHG emissions. However, a qualitative assessment in relation to our assets and products is not yet available. Under the provisions on the EU Paris-aligned benchmarks in Delegated Regulation (EU) 2020/1818, Krones is not excluded from the EU Paris-aligned benchmarks.

The Krones Group's sustainability targets were officially adopted by the Executive Board in the 2020 financial year. In 2024, they were subjected to a review in which twelve environmental, social and governance (ESG) key performance indicators were selected to manage sustainability along the value chain through to 2030. The targets are geared to the energy and media-efficient operation of our products and technologies and contribute to the transition to a circular economy.

Krones sustainability targets 2030 and Net-Zero until 2040

Upstream chain

• -30% Reducing Scope 3 emissions in upstream processes
• 100% Suppliers managed with regard to human rights

Own operations

• -80% Reducing Scope 1+2 emissions at our plants
• -10% Reducing water and hazardous waste in our operations
• 20% Women in leadership
• -30% Reducing occupational accidents in relation to hours worked
• 100% Legal entities evaluated with compliance risk analyses
• 85% Implementing ISO 27001 for relevant entities

Downstream chain

• -30% Reducing Scope 3 emissions for the sold products
• -25% Reducing energy footprint of sold products
• -20% Reducing water footprint of sold products
• 30% of Krones lines' plastics output recycled with Krones technology (equivalent)

Until 2040

• NET-ZERO Emissions along the entire value chain

The Krones Group is committed to achieving net-zero GHG emissions along the entire value chain (Scope 1, Scope 2 and Scope 3) by 2040, corresponding to a 90% absolute reduction across all emissions. In accordance with the SBTi standard, the remaining 10% must be neutralised using technologies such as carbon removal and carbon capture.

Transition plan for climate change mitigation

Lundbeck is committed to achieving net-zero greenhouse gas emissions across our value chain. Our climate transition plan outlines the pathway and actions required to meet our science-based targets and contribute to limiting global warming to 1.5°C.

Climate Transition Strategy

Net-zero commitment: Lundbeck has committed to achieving net-zero greenhouse gas emissions across our entire value chain by 2050, with interim targets approved by the Science Based Targets initiative (SBTi) for 2030.

Science Based Targets:

• Near-term targets (by 2030):
  • Reduce absolute Scope 1 and 2 GHG emissions by 46% from 2019 baseline
  • Reduce Scope 3 emissions from purchased goods and services, upstream transportation and distribution, and business travel by 25% from 2019 baseline
• Long-term target: Achieve net-zero GHG emissions across the value chain by 2050

Transition Plan Components

1. Operational Emissions Reduction (Scopes 1 & 2)

Energy efficiency improvements:

• Comprehensive energy management systems across all manufacturing sites
• Implementation of energy-efficient technologies and processes
• Regular energy audits and optimization of building systems
• LED lighting upgrades and smart building management systems

Renewable energy transition:

• Systematic transition to renewable electricity across operations
• Power Purchase Agreements (PPAs) for renewable energy supply
• On-site renewable energy generation where feasible
• Green electricity procurement strategies in key markets

Process optimization:

• Manufacturing process improvements to reduce energy intensity
• Heat recovery systems and waste heat utilization
• Optimization of chemical recovery and recycling processes
• New chemical recovery unit construction (completion expected late 2025)

2. Value Chain Emissions Reduction (Scope 3)

Supplier engagement:

• Collaboration with suppliers on GHG emission reduction initiatives
• Supplier climate commitments and target-setting requirements
• Supply chain decarbonization roadmaps
• Supplier capability building and best practice sharing

Sustainable sourcing:

• Preference for suppliers with strong climate commitments
• Integration of climate criteria in supplier selection processes
• Sustainable raw material sourcing strategies
• Circular economy principles in procurement

Product lifecycle optimization:

• Product design considerations for reduced carbon footprint
• Sustainable packaging initiatives
• Transportation and logistics optimization
• End-of-life product considerations

Business travel reduction:

• Digital collaboration tools reducing travel requirements
• Travel policies prioritizing lower-carbon alternatives
• Carbon-efficient travel booking systems
• Hybrid and remote working arrangements

Investment and Resource Allocation

Capital investments:

• Significant investments in energy efficiency and renewable energy projects
• New chemical recovery unit investment (major milestone in 2024)
• Manufacturing process upgrades and optimization
• Digital infrastructure supporting carbon management

Operational resources:

• Dedicated sustainability team and climate expertise
• Cross-functional climate action working groups
• Integration of climate considerations in business planning
• Performance management systems tracking climate metrics

Financial planning:

• Climate investment budgets integrated into capital allocation
• Assessment of climate-related financial risks and opportunities
• Carbon pricing assumptions in investment decisions
• Green finance and sustainability-linked financing consideration

Governance and Monitoring

Climate governance:

• Board oversight of climate strategy and performance
• Executive Management accountability for climate targets
• Integration of climate metrics in performance evaluation
• Regular climate risk assessment and management

Performance monitoring:

• Annual GHG emissions inventory and verification
• Progress tracking against science-based targets
• Key performance indicators integrated in management reporting
• External reporting and transparency commitments

Third-party verification:

• Annual third-party verification of GHG emissions data
• SBTi target validation and progress assessment
• External assurance of climate disclosures
• Participation in climate disclosure frameworks (CDP)

Progress to Date

2024 achievements:

• 38% reduction in Scope 1 & 2 GHG emissions since 2019 baseline
• Construction started on new chemical recovery unit
• Continued expansion of renewable energy procurement
• Enhanced supplier engagement on climate action

Challenges and risks:

• 18% increase in Scope 3 emissions since 2019, requiring intensified action
• Supply chain complexity requiring enhanced collaboration
• Technology availability for certain emission reduction opportunities
• Market readiness for sustainable alternatives in some categories

Future Roadmap

2025-2030 priorities:

• Accelerate Scope 3 emissions reduction through supplier engagement
• Complete renewable energy transition for own operations
• Implement circular economy initiatives
• Develop carbon removal and offsetting strategies for residual emissions

Innovation and technology:

• Investment in breakthrough technologies for emission reduction
• Collaboration on sustainable pharmaceutical manufacturing innovations
• Digital solutions for carbon management and optimization
• Research and development of sustainable product alternatives

Stakeholder collaboration:

• Industry collaboration on decarbonization challenges
• Patient and healthcare system engagement on sustainable healthcare
• Policy advocacy for supportive regulatory frameworks
• Partnership with NGOs and sustainability organizations

Our climate transition plan is a living document that will be updated regularly to reflect progress, learnings, and evolving best practices. We are committed to transparency in our climate journey and will continue to report on our progress annually.

MAPFRE Group maintains environmental commitments in its insurance and reinsurance underwriting business to contribute to the transition toward a low-carbon economy, reinforcing the commitment to be a net zero company by 2050.

MAPFRE faces significant risks due to climate change, especially in relation to natural disasters that may increase in frequency and severity, impacting claims and the resources needed for their management. To address these risks, specialized reports and control systems are used to manage exposure to catastrophic risks, determining maximum underwriting capacities per risk and event. In 2021, MAPFRE implemented the ExpoCat tool for georeferencing and controlling catastrophic exposures, improving information management and decision-making.

Additionally, the Group's reinsurer, MAPFRE RE, is responsible for placing reinsurance protections to mitigate catastrophic risks, ensuring that the Group can withstand losses without compromising its solvency.

Our roadmap toward a carbon neutral value chain: We closely monitor the development of the latest climate science, sectoral guidance, best practises and the leading climate frameworks such as the Science Based Targets initiative (SBTi), Transition Pathway Initiative (TPI) and Exponential Roadmap Initiative (ERI) to develop our climate commitments. As a result, achieving significant emissions reductions within our own operations and across the value chain remains the central approach to meeting our climate targets.

We have identified and taken several measures to reduce GHG emissions in our production (scopes 1 & 2). We met our short-term target of 100% renewable electricity procurement globally in 2023 with electricity supplier contracts and additional market measures. In 2024, solar power supply started from the Lakari solar plant in Rauma, Finland. In the medium-term, we will focus on improving energy efficiency and electrification, and in the long-term, our decarbonization actions include scaling new technologies.

In October 2024, we announced a decision to re-evaluate our renewable hydrogen plans and withdraw from investing into a 120 MW electrolyzer at the Porvoo refinery. We still plan to utilize renewable hydrogen at the Porvoo refinery and are actively evaluating alternative pathways for securing renewable hydrogen.

Progress of Porvoo refinery transformation: In 2023, Neste completed the strategic study on gradually transforming its crude oil refinery in Porvoo, Finland, into a leading renewable and circular solutions refining hub. The planned transformation will proceed in phases, and requires multiple separate investment decisions during the next decade before targeted completion. The transformation will complete Neste's journey to a 100% renewable and circular solutions producer when finalized.

Climate transition plan

We are committed to reaching net-zero greenhouse gas emissions by 2040 across our full value chain (Scopes 1, 2 and 3). This includes an interim target to reduce absolute Scope 1 and 2 emissions by 45% by 2030 compared with 2019, and Scope 3 emissions by 25% by 2030 compared with 2022.

Our transition plan includes:

Energy transition

• Transitioning to renewable electricity across our operations
• We have already achieved over 75% renewable electricity procurement globally
• Optimizing heating, ventilation and air conditioning systems
• Upgrading to energy-efficient equipment and improved building insulation

Supply chain decarbonization

• Engaging with suppliers covering more than two-thirds of Scope 3 emissions on their carbon footprint
• Implementing environmental sustainability criteria in supplier contracts (now covering 76% of Scope 3 emissions)
• Participating in WBCSD's Partnership for Carbon Transparency Pathfinder Framework for primary data exchange

Technology and innovation

• Investing in low-carbon technologies and processes
• Implementing sustainable sourcing programs
• Developing circular economy approaches to reduce emissions

Governance and monitoring

• Board-level oversight through Governance, Sustainability and Nomination Committee
• Regular monitoring and reporting of progress against targets
• Integration into enterprise risk management and compensation systems

Our transition plan is aligned with the Science Based Targets initiative (SBTi) and contributes to limiting global warming to 1.5°C.

To become a net zero emissions company by 2050 (Scopes 1, 2, and 3), OMV has also set interim medium- and long-term targets for 2030 and 2040, with well-defined actions to meet the 2030 targets. OMV is committed to reducing its absolute emissions, aiming to reduce its Scope 1 and 2 emissions by 30% by 2030 and by 60% by 2040, and its Scope 3 emissions by 20% by 2030 and by 50% by 2040 compared to its baseline year of 2019. The Group also aims to reduce the carbon intensity of its energy supply by 15–20% by 2030 and by 50% by 2040 (baseline 2019).

The reduction in GHGs is expected to be achieved by increasing zero-carbon energy sales, increasing sustainable base chemicals, polyolefins, feedstocks, and products, and using neutralization measures such as Carbon Capture and Storage, while at the same time decreasing fossil fuel sales. OMV aims to phase out routine flaring and venting entirely by 2030.

OMV has planned a yearly average organic CAPEX of up to EUR 3.8 bn for the period from 2024 to 2030. Overall, OMV intends to allocate 40–50% of its organic CAPEX in this period to sustainable projects such as geothermal, Carbon Capture and Storage, renewable electricity, chemical and mechanical recycling, and biofuels to achieve its ambitious decarbonization targets.

Transition Plan for Climate Change Mitigation

Repsol has established a comprehensive transition plan aligned with its net zero emissions ambition by 2050.

Strategic Framework

Net Zero Commitment: In December 2019, Repsol was the first energy firm to announce its ambition to become a net zero emissions company by 2050, thus starting a strategic change of course.

Updated Strategic Plan 2024-2027: The transition plan is integrated into the SP 24-27, which "allows for a more robust and cost-effective energy transition, by prioritizing investments in the current integrated portfolio of high-quality assets and low-carbon initiatives."

Emission Reduction Targets

Absolute Emission Reduction: Repsol has set targets for reducing absolute greenhouse gas emissions for Scopes 1, 2 and 3:

• 20% reduction by 2030 compared to base year 2018 (224 Mt CO₂e)
• Net zero emissions (NZE) by 2050

Progress Tracking: In 2024, Repsol's emissions (Scopes 1, 2 and 3) totaled 192.7 Mt CO₂e, reflecting a 14% reduction from the base year (2018).

Technology Neutrality Approach

Multi-Energy Strategy: "Our objective is to capitalize on every opportunity offered by the energy transition. This is why we remain committed to developing different energy sources, such as renewable fuels, hydrogen, biogas, solar and photovoltaic energy. And we are doing so without abandoning our legacy assets, oil and natural gas, making the exploration, production and consumption of these fuels more efficient."

Industrial Transformation

Multi-Energy Hubs: "One of the pillars of our strategy is the transformation of the company's industrial assets. To succeed in this task, we are turning our industrial complexes into multi-energy hubs, capable of processing all sorts of raw materials and waste to manufacture products with a low carbon footprint."

Renewable Fuels Platform:

• Started up first plant in Iberian Peninsula (Cartagena) producing 100% renewable diesel and sustainable aviation fuel (SAF) from organic waste
• Adapting Puertollano facility for second renewable fuels plant (late 2025/early 2026)
• Strategic alliance with Bunge Ibérica for low-carbon feedstock access

Circular Economy Integration: "This strategy will enable us to create new value chains based on the circular economy to serve as a lever for fostering industrial activity, generating new jobs and driving the economy in the depopulated rural areas of Spain."

Investment Allocation

Low-Carbon Investment Focus: Planned investment of €16,000-19,000 million over 2024-2027, with above 35% focusing on low-carbon businesses.

Technology Investment: More than €500 million will be invested in technology and digitalization over four years, with 58% of technology projects focused on low emissions.

Business-Specific Transition Plans

Industrial Segment: "Maximizing profitability, becoming more competitive, and building resilience in relation to conventional assets. Creating scalable and unique low-carbon fuels and materials platform (renewable fuels, renewable hydrogen, circularity and biomaterials)."

Customer Segment: "Being a multi-energy leader with the aim of generating profitable growth by accompanying customers in their energy transition. Building multi-energy competitive advantages."

LCG Segment: "Evolving from a phase of renewable energy platform construction (Wind and Solar), to a ramp-up phase or organically growing and optimizing the project pipeline."

Carbon Capture and Storage

CCUS Development: Various projects were undertaken for the "capture, sequestration and storage of CO2, which will help Repsol achieve its objective of reducing emissions."

Synthetic Fuels: Started work on a 'demo' plant in Port of Bilbao capable of producing synthetic fuels from captured CO2 and renewable hydrogen.

SALCOS® Transformation Program

Virtually climate-neutral steel production is to be achieved as part of the SALCOS® program by incrementally switching to a hydrogen-based route. In contrast to the former process involving blast furnaces, hydrogen and green electricity replace the carbon formerly required for producing steel. This technology enables steel production's carbon footprint to be reduced by around 95%.

Implementing the first stage of SALCOS® commenced back in 2022. At the end of 2026, products from the new production route that are generated with a mix of natural gas and hydrogen should be on the market. Once connected to the hydrogen core network, the proportion of hydrogen can gradually increase. We plan to have completed the technical transformation of the steelworks to accommodate the new procedures by the year 2033.

The technical approach of SALCOS® consists of avoiding carbon emissions directly in the production process (Carbon Direct Avoidance) through replacing the carbon formerly required for producing steel incrementally - initially mainly by natural gas and subsequently by 100% green hydrogen - in direct reduction plants to be built.

Implementation Progress

SALCOS® is being implemented in stages. The first stage that is already underway consists of a direct reduction plant, an electric arc furnace, and a 100 MW electrolysis plant generating hydrogen. With this as a foundation, we aim to supply our customers with low carbon steel on an industrial scale as from 2026. Following a ramping up phase, we will be producing 2 million tons via this route, thereby realizing 30% of Salzgitter Flachstahl GmbH's primary steel production without the use of coking coal.

By the end of 2033, the transition to virtually carbon-neutral steel production at the Salzgitter location is to have been completed – well ahead of statutory requirements. Full alignment to low carbon steel production will be instrumental for us in achieving the target of eliminating 95% of Germany's emissions. As part of the transformation, the technical foundation for reducing emissions by up to 2.5 million tons a year as from 2026 and 8 million tons a year as from 2033 has been set in place.

Sanofi's commitment to Net Zero

Our updated commitment towards Net Zero by 2045 was validated by the SBTi on January 19, 2023.

The SBTi's Target Validation Team has assessed Sanofi's corporate science-based targets and determined that the 2030 Scope 1 & 2 target and the 2045 Net Zero target are in line with a 1.5 °C trajectory.

To address Sanofi's corporate emissions, a 2045 Scope 3 target was set for a 'net zero' aligned 93.9% of base-year Scope 3 GHG emissions. Under the target, modeled using the Absolute Contraction approach, absolute Scope 3 emissions would be reduced by 30.0% by FY2030 from the FY2019 base. Our 2030 target meets the minimum ambition for the 2 °C pathway under the Absolute Contraction Approach.

Main GHG reduction targets

The main GHG reduction targets versus the 2019 baseline are described in the table below:

Additional supporting goals

1. Increase our annual supply of renewable electricity to 80% in 2025 and then 100% in 2030;
2. Invest in carbon offset projects that combine a positive impact on both communities and the environment to offset residual emissions from 2030, on top of a science-based emission reduction trajectory;

For Sanofi to reach these ambitious commitments, the company has defined an emissions reduction program and has set up several action plans across its own activities (Scopes 1 & 2) and full value chain (Scope 3).

Decarbonization levers for reducing Scope 1 & 2 GHG emissions and progress to date

The figures below detail the levers to achieve the Scope 1 & 2 target to reduce GHG emissions by -55% by 2030 from a 2019 baseline, as well as progress to date.

Scopes 1 & 2 (GHG protocol): 2019 GHGs emissions to 2024 (-47%)

Scope 1 & 2 emissions are linked to energy consumption, leakage of refrigerants and Sanofi's vehicle fleet: Sanofi has adopted an approach that combines energy efficiency (consume less, consume smarter) with decarbonization of energy supplies (consume differently).

Reduced consumption and improved energy efficiency

• Sanofi's energy efficiency approach extends to relevant activities, buildings, processes and utilities. It takes in the design of new buildings, and the medical representative vehicle fleets. Energy saving programs are in place at all relevant sites. Sanofi's Energy efficiency program is managed via a management system that covers all relevant operations, includes a reference framework, an internal audit and performance review program. – The Energy management system of Sanofi has been assessed and certified as meeting the requirements of ISO 50001:2018 for the following activities: research, development, manufacturing, distribution centers and related support functions performed in the Business Units. • Various levers are being activated (depending on the activity carried on at the site), with a specific focus on air treatment systems that ensure high-quality environments in manufacturing and R&D buildings, which can account for up to 70% of the energy consumption of these buildings. However, these systems are important for the quality and safety of Sanofi's medicines, and any alterations must be validated. The Company therefore plans to reduce its energy consumption at existing facilities by 15% in 2025, compared to 2021. • Internal standards have been issued, requiring energy efficiency to be built into the design and selection of plant and equipment that use energy. Sanofi's Sustainable Buildings Charter also helps promote sustainable and energy-efficient buildings that are, in many cases, certified to LEED (Leadership in Energy and Environmental Design), BREEAM (Building Research Establishment Environmental Assessment Method) or HQE (Haute Qualité Environnementale) standards.

Decarbonization of energy

Sanofi also operates a low-carbon energy policy, favoring the use of lower-carbon energies for projects and buying in electricity from certified renewable sources. In September 2020, the Company made a public pledge that by 2030, 100% of the consumed electricity will come from renewable sources, by joining the RE100 initiative. Transition to renewables relies on the following strategies: • installation of solar panels; Sanofi can self generates up to 25 GWh per year. The largest plant, which will produce 11.5 GWh per year, is located on the Sisteron site. Progress to date: the output from the solar panels installed rose from 0.5 GWh at the end of 2021 to 18.8 GWh at the end of 2024, representing between 5% and 20% of consumption on the nine largest project sites located in France, India, Italy, China, Spain & Brazil; • guaranteed certified origin energy contracts; • a renewable electricity Power Purchase Agreement (PPA) is in place in Mexico to supply energy to Sanofi's two Mexican sites. Plans to extend this model to Europe and the United States is in progress; we notably signed 11 Power Purchase Agreements (PPA) in 2024 for a maximum of 20 years for an annual volume of 238.5 GWh per year, representing 50% of electricity needs in France; • transition to renewable thermal energy to meet heating needs by increasing the use of biomethane and biomass. A long-term biomethane supply contract (2024-2030) has been signed in France for 210 GWh per year.

As a result, the use of renewables has been raised from 16% of electricity consumption in 2019 to 85% in 2024.

Refrigerant control

Regarding emissions linked to the leakage of refrigerants, Sanofi has put policies in place to manage the use of carbon-intensive refrigerants like HFC & HCFC. These include switching to substitute refrigerants with a lower global warming impact, improving leak prevention, and systematically analyzing accidental discharges so that lessons can be learned and shared across sites. Progress to date: since 2019, Sanofi has reduced the impact of refrigerant discharges by 41%, avoiding 9,300 tons of CO2e emissions.

Sustainable vehicle fleet

We have also pledged to optimize our vehicle fleet (subject to availability of suitable models in the regions where we operate), to reduce greenhouse gas emissions from our fleet. Our aim is for our eco-car fleet to reach 80% of total fleet by 2030. An eco-car fleet as defined by internal criteria combines hybrid, electric and biofuel vehicles.

Regarding emissions from Sanofi's vehicle fleet, the global car fleet policy was reviewed in 2023 so as to cover the cost of installing EV charging points at home for employees who opt for an electric vehicle. A policy for sales representative travel was also introduced to implement an eco-driving policy and culture (e.g., with eco-driving courses), improve fuel efficiency, reduce travel and convert Sanofi's car fleet to an eco-fleet criteria (biofuel, hybrid and electric vehicles). Progress to date: already 50% of Sanofi's fleet meets the eco-fleet criteria and CO2e emissions from the sales forces were cut by 50% versus a 2019 baseline.

Decarbonization levers for reducing Scope 3 GHG emissions and progress to date

Scope 3 emissions account for 91% of Sanofi's total emissions. The figures below detail the levers to achieve the Scope 3 target to reduce GHG emissions by -30% by 2030 from a 2019 baseline, as well as progress to date.

Scope 3 (GHG protocol): 2019 GHGs emissions to 2024 (-10%)

Decarbonization of inputs and raw materials

In terms of decarbonization, we are actively working to reduce the use of virgin resources and reuse materials more efficiently in order to mitigate the impact of our products' GHG emissions. Emissions from the purchase of raw materials and subcontracting represent half of Sanofi's emissions (51% for in 2024), making them the primary lever for decarbonization. To reduce the impact of our products, we are reviewing our manufacturing processes and seeking to replace the most carbon-intensive raw materials with more environmentally sustainable alternatives. The use of alternative supplies for certain carbon-intensive raw materials will improve our level of emissions from 2024 onwards. We are identifying less carbon-intensive suppliers for our main raw materials. The country of manufacture and origin of our raw materials has become a key element of decision-making when choosing suppliers. For example, the emissions linked to one of our most carbon-intensive raw materials has been significantly reduced since 2019 by moving sourcing to less carbon intensive suppliers in Europe (Spain and France).

Supplier engagement

Purchased goods and services and capital goods represent 67% of Sanofi's total emissions. We are therefore engaging with suppliers to work towards their improving their environmental footprint and fighting climate change. Sanofi's Supplier Engagement Program: • sets clear environmental expectations on activities to be completed; • provides guidance on how to complete activities; and • supports suppliers less advanced/mature on sustainability matters.

As part of the program, those suppliers need to commit to: • calculate their Scope 1+2+3 emissions and report them publicly; • get a CDP Climate score of A or B; • engage with their own supply chain; • set SBTi (Science Based Targets initiative) targets; and • sets a target for 100% renewable electricity by 2030.

In 2024, there were 205 suppliers engaged in the Supplier Engagement Program, covering 75% of supplier-related emissions and representing 50% of our procurement spend.

Moreover, through the Energize Program, a collaborative effort within the pharmaceutical industry, we help our shared supply chains convert to renewable energy. We are also a member of the Pharmaceutical Supply Chain Initiative where, among other efforts, a decarbonization maturity model has been developed to help suppliers evaluate how responsible their current practices are toward Net Zero, as well as provide corresponding content to help them proceed to the next level.

In 2023, the Sanofi CEO signed an Open Letter to Suppliers published by members of the Sustainable Markets Initiative Health Systems Task Force to set out minimum targets for supplier decarbonization.

Reducing air cargo shipments in favor of more sustainable modes of transportation

To decrease emissions related to the distribution of pharmaceuticals within our international transport network, we are using less air transport and more sea shipment, road and rail shipment, which are less carbon-intensive. Our other decarbonization efforts include: • increasing the fill levels of trucks and sea containers; • developing rail for intra-European deliveries and France-China deliveries; • experimenting with electric and natural gas vehicles for in-town deliveries and for pre-carriage shipments; • designing packaging to reduce volume and optimize transport; • grouping product shipments and pooling transport to reduce the number of trucks on the road; • starting analysis of new sea shipment with hybrid or renewable propulsion; • developing multimodal transports solutions.

Since 2023, we continued to reduce our carbon footprint by maximizing sea transport for vaccines shipments (excluding flu vaccines) from France to 13 countries (Australia, Japan, Malaysia, South Korea and Brazil for instance). Potential new sea routes are under assessment or validation for the transport of vaccines.

Reducing other downstream emissions

Downstream emissions will be impacted by packaging and device improvements, such as Sanofi's commitment to PVC-free blister packaging for its vaccine syringes. Such actions contribute to the decarbonization of downstream emission categories such as 'transportation and distribution' and 'end of life treatment of sold products'.

Investments planned to support the climate transition roadmap

Sanofi has estimated the costs of its climate transition roadmap for its whole scope until 2030. The Executive Committee, through the annual strategic planning process, has validated the funding needed to meet 2030 public climate commitments. The investment represents between €300 million and €400 million annually on average.

Alignment of the transition plan with the overall business strategy and financial planning

The Planet Care roadmap is embedded in our strategic financial planning processes. We work on the integration of our climate change mitigation and adaptation projects, into our short and long-term strategic financial planning process. This is an annual process culminating in executive endorsement of key strategic investments over a ten-year horizon.

Approval of the transition plan by supervisory bodies

Sanofi's Board of Directors validates the Company's overall strategy, oversees its implementation, and regularly monitors delivery. As part of this role, the Board monitors Planet Care (Sanofi's environmental program), including the climate commitments, and reviews the climate transition plan at least once a year.

With regard to the Sanofi's climate change mitigation transition plan, it aims to provide an understanding of the Company's past, present and future mitigation efforts, to ensure that its strategy and business model are compatible with the transition to a sustainable economy. It is understood, however, that to date there is no consensus on targets or trajectories for reducing greenhouse gas emissions at company level (the objectives being set at national level), which would make it possible to guarantee the compatibility of a strategy with a scenario limiting global warming to 1.5 °C, in accordance with the Paris Agreement.

Transition plan for climate change mitigation

Siili's business and strategy support sustainable development because IT solutions can be used to reduce the environmental burden and the use of resources. Furthermore, Siili places a special emphasis on its social responsibility for its own employees and those in the value chain. One of the three strategic goals in Siili's strategy is to be a community of top talent. Siili develops its corporate culture and continuous learning opportunities aiming to be the most attractive community among digital development professionals.

Siili has not set any sustainability-related targets for the financial year 2024, but it will evaluate and establish these targets in 2025.

Key focus areas based on double material analysis - ENVIRONMENTAL

• Drive sustainable and responsible IT services
• Climate change
• Carbon footprint

Key KPIs and targets Reduce emissions by 2030

• Scope 1 & 2 emissions = 0
• Scope 3 emissions reduced by 20% compared to 2022

Siili has taken the results of the double materiality analysis into account in its strategy process. When renewing our strategy in 2024, we also took into account the results of the double materiality analysis and the views of key stakeholders, customers and employees, in our strategy work.

Siili has started defining sustainability goals and indicators, and Siili's board of directors will confirm the sustainability goals during 2025.

For Climate, we have updated our carbon neutrality roadmap, outlining a solid and affordable path to achieving our goals. We believe that we can cut around one third of our greenhouse gas emissions (scope 1 and 2) by 2030 and a second third by 2040 with the aim to achieve carbon neutrality by 2050.

Our global energy transition roadmap includes various initiatives, from phasing out coal, to driving efficiency projects to lower energy consumption at our sites, to switching to renewable energy sourcing.

Energy transition projects:

• Rheinberg, Germany: We made our Rheinberg, Germany, plant, the world's first soda ash plant primarily powered by renewable energy, namely local waste wood. This shift will contribute to a 4% reduction of Solvay's overall greenhouse gas emissions by 2025 while enhancing our long‑term competitiveness.

• Green River, U.S.: Our U.S. trona-based soda ash plant in Green River, Wyoming, is set to drive a 4% reduction in Group‑wide GHG emissions by 2025 by deploying an innovative process and phasing out coal. The launch of our regenerative thermal oxidation (RTO) process, the first of its kind in the trona mining industry, marks a key milestone in Solvay's energy transition journey.

• Ciudad Juárez, Mexico: A new biodigester was commissioned in 2024 to substitute natural gas with biomethane.

• Dombasle, France: We are substituting coal with refuse-derived fuel, with an expected start in late 2025.

• Torrelavega, Spain: We are considering replacing coal with biomass by 2027.

• Paulínia, Brazil: We announced climate and water projects which will reduce this major production plant's greenhouse gas emissions by 40% annually by 2028. Installing biomass‑fired boilers, fueled primarily by sugarcane bagasse, will support renewable energy adoption.

These energy transition projects will substantially decarbonize our European operations while simultaneously mitigating exposure to fossil fuel price risks, thereby bolstering their long-term sustainability.

Transition Plan for Climate Change Mitigation:

Stora Enso has established a comprehensive transition plan aligned with limiting global warming to 1.5°C:

Science-Based Targets: We have set ambitious science-based targets aligned with the 1.5-degree scenario:

• Scope 1 & 2 emissions: 50% reduction by 2030 from 2019 baseline (already achieved 53% reduction by 2024)
• Scope 3 emissions: 50% reduction by 2030 from 2019 baseline (achieved 39% reduction by 2024)
• Net-zero target: Net-zero emissions by 2040

Strategic Transformation: Our transition plan centers on transforming our business model toward renewable materials:

• Shifting from traditional forest products to strategic growth areas
• Focus on renewable packaging, sustainable building solutions, and biomaterials innovation
• Target: 80% of sales from strategic growth areas by 2030 (currently 47%)

Operational Improvements:

• Energy efficiency improvements across operations
• Fuel switching from fossil fuels to renewable energy
• Investment in low-carbon technologies
• Systematic working capital reduction (EUR 700 million reduction over 1.5 years)

Product Innovation:

• Development of products that replace fossil-based materials
• Hard carbon from lignin for batteries
• Bio-based binders and chemicals
• Wood foam replacing fossil-based packaging foam

Forest-Based Solutions:

• Sustainable forest management ensuring carbon sequestration
• Our forests sequester 4.3 million tonnes CO2 annually
• Forest assets valued at EUR 8.9 billion providing natural carbon storage

Investment in Renewable Capacity:

• EUR 1 billion investment in consumer board production at Oulu (low-carbon packaging)
• Focus on packaging solutions that enable customer emission reductions

Circular Economy Integration:

• 94% of products technically recyclable (target: 100% by 2030)
• Cascading use of wood ensuring maximum efficiency
• Integration of circularity into product development

Transition plan for climate change mitigation

Strategic commitment to decarbonization TKH is committed to achieving 100% carbon neutrality in our own operations by 2030 (scopes 1 and 2), with a reduction of CO2 footprint compared to reference year 2019. In 2024, we achieved a 70.3% reduction in our net CO2e footprint.

Key elements of our transition plan:

1. Sustainable product portfolio

• 71.6% of turnover linked to UN Sustainable Development Goals
• Focus on electrification solutions supporting renewable energy infrastructure
• €200 million strategic investment in offshore wind inter-array cable capacity
• Development of energy-efficient technologies and sustainable manufacturing systems

2. Operational decarbonization

• High-priority investments in energy efficiency and renewable energy
• Implementation of energy-saving programs across all facilities
• Optimization of production processes to reduce emissions
• Operation in accordance with ISO 14001 environmental management standards

3. Value chain engagement

• Active dialogue with strategic suppliers to improve sustainability of their products and processes
• 59.0% of Tier-1 copper suppliers certified by The Copper Mark
• 78.2% of copper suppliers assessed with 2024 risk management assessment
• Integration of sustainability requirements in procurement processes

4. Innovation and R&D focus

• €80.7 million investment in R&D activities in 2024
• Development of AI-powered solutions that improve energy efficiency
• Design for recyclability and circular economy principles
• 17.6% of turnover from innovations introduced in prior two years

5. Market positioning for electrification

• Strategic focus on automation and electrification as guiding global trends
• Expansion of capacity for energy transition technologies
• Support for customers' sustainability targets through our technology solutions
• Positioning as leader in offshore wind connectivity solutions

Transition plan for climate change mitigation

Our transition strategy

TotalEnergies has developed a comprehensive transition plan based on a two-pillar multi-energy strategy to achieve its ambition of carbon neutrality by 2050, together with society.

Two-pillar strategy

Pillar 1: Oil & Gas

• Focus on low-cost, low-emission hydrocarbon assets
• LNG as key transition fuel to replace coal
• Reduce Scope 1+2 emissions from operated facilities by 40% by 2030 vs 2015
• Eliminate routine flaring by 2030
• Reduce methane emissions by 80% by 2030 vs 2020

Pillar 2: Electricity

• Build integrated renewable and flexible power generation portfolio
• Target 100 GW of renewable capacity by 2030
• Achieve >100 TWh annual power generation by 2030 (70% renewable, 30% flexible)
• ROACE target of ~12% for Integrated Power segment

2030 Objectives

Energy production growth:

• Increase total energy production by +4% per year between 2024 and 2030
• Electricity to account for nearly 20% of hydrocarbon equivalent production by 2030
• Oil & Gas production growth of around 3% per year over next five years

Emissions reduction:

• Net Scope 1+2 emissions reduction of 40% by 2030 vs 2015 (including nature-based carbon sinks)
• Lifecycle carbon intensity of energy products sold reduced by 25% by 2030 vs 2015
• Maintain Scope 3 emissions below 400 Mt CO2e

Investment strategy

Capital allocation:

• $17.8 billion net investments in 2024, with $4.8 billion for low-carbon energies
• Around $4 billion per year investment in electricity by 2030
• $1 billion energy efficiency improvement plan (2026-2028)

Technology focus:

• 68% of R&D budget devoted to new energies, batteries, and environmental footprint reduction
• $805 million R&D budget with 15 R&D centers worldwide
• More than 250 patent applications in 2024

Decarbonization levers

Operational improvements:

• Energy efficiency: $1 billion plan (2023-2025) achieving 1.5 Mt CO2e/year reduction
• Electrification of facilities using low-carbon electricity
• 100% low-carbon electricity supply for European and US refineries from 2025
• Methane leak detection with 13,000 sensors deployed by end 2025

Portfolio transformation:

• Renewable capacity growth from 26 GW in 2024 to 100 GW by 2030
• LNG production increase with lower carbon intensity projects
• Biofuels production expansion with focus on waste-based feedstocks
• Development of low-carbon hydrogen for European refineries

Long-term vision (2050)

By 2050, TotalEnergies aims to produce:

• ~50% electricity (500 TWh/year from ~400 GW renewable capacity)
• ~25% low-carbon molecules (50 Mt/year biogas, hydrogen, e-fuels)
• ~25% Oil & Gas (primarily LNG ~25-30 Mt/year, low-cost oil for petrochemicals)

Carbon neutrality approach:

• 10 Mt CO2e/year residual Scope 1+2 emissions offset by nature-based carbon sinks
• 100 Mt CO2e/year Scope 3 emissions addressed through CCS/CCU solutions
• Contribution to global emissions reduction through enabled emissions reductions

Governance and monitoring

• Regular review of transition plan progress against 2025 and 2030 targets
• Integration of climate considerations into capital allocation decisions
• Scenario analysis using IEA pathways to test plan resilience
• Third-party verification of key metrics and trajectories

The Group has committed to an emissions reduction target validated by the Science Based Targets initiative (SBTi). Ubisoft is committed to reducing its Scope 1 and 2 emissions by 42% by 2030, compared to 2020 emissions. The transition plan includes deployment of green IT, green travel, and green procurement policies, along with Climate School training at Group level.

Climate change is one of the greatest environmental, social, and economic challenges. The Group believes that mitigation should be integral to every activity and decision, knowing that this goal can be achieved without sacrificing excellence, profitability, efficiency, and returns for all stakeholders.

This commitment is embodied in the General Sustainability Policy and the Climate Change Policy, presented to the Sustainability Committee in October 2024 and approved by the Board of Directors in February 2025.

The General Sustainability Policy establishes the principles that should govern the Acerinox Group's strategy and guidelines for managing sustainability incidents, risks and opportunities, including mitigation and adaptation to climate change.

The Group takes on and promotes a series of principles that must govern its actions. These include, among others, mitigating climate change by implementing energy-efficiency measures, promoting the use of renewable energies, and optimizing water consumption, as well as adapting to the effects of climate change where appropriate.

The General Sustainability Policy also addresses the promotion of the circular economy and the rational and sustainable use of natural resources, as well as the protection and recovery of biodiversity and ecosystems.

The Group's Climate Change Policy establishes a framework for its business model and strategy to be consistent with its commitment to the transition to a low-carbon economy and limiting global warming.

The purpose of the Acerinox Group's Climate Change Policy is rooted in its General Sustainability Policy, the Sustainability Due Diligence Policy, the Group's Human Rights Policy, the Sustainable Development Goals, and the United Nations Global Compact Principles, among others.

Policies are developed in specific action plans, such as the Beyond Excellence Plan, Decarbonization Plan, and so on.

Both policies apply to all entities within the Group, which will ensure that the principles of these policies are also adopted by other business partners in the activity chain. The Board of Directors oversees compliance with both policies, and they will be available on the Company website.

Policies related to climate change mitigation and adaptation

Amadeus has established comprehensive policies to address climate change mitigation and adaptation as part of its sustainability framework.

Core Environmental Policies: • Sustainability Policy: Sets the overall framework for environmental commitments and climate action • Environmental Policy: Specifically addresses environmental management including climate-related aspects • ESG Ambition Strategy: Amadeus' sustainability strategy that includes climate commitments structured around the "Foster environmental sustainability" pillar

Policy Integration: Climate-related policies are embedded within Amadeus' broader governance framework and are aligned with: • UN Global Compact principles • Science-Based Targets initiative (SBTi) requirements • Paris Agreement objectives • European Green Deal and related regulations

Policy Scope: The climate policies cover: • Own operations: Direct emissions from Amadeus facilities and operations (Scope 1 and 2) • Value chain: Indirect emissions from upstream and downstream activities (Scope 3) • Products and services: Development of solutions that help customers reduce their environmental impact • Stakeholder engagement: Collaboration with industry partners on climate initiatives

Governance and Accountability: Climate policies are governed through Amadeus' established sustainability governance structure: • Board of Directors approval and oversight • Audit Committee supervision of policy compliance • ESG Steering Committee implementation guidance • Management accountability for execution

Risk Management Integration: Climate policies are integrated into Amadeus' Enterprise Risk Management framework, addressing both transition and physical climate risks as part of the sustainability risk category.

The policies are regularly reviewed and updated to ensure alignment with evolving climate science, regulatory requirements, and stakeholder expectations.

Policies related to climate change mitigation and adaptation

AMAG's climate policies are integrated into the overall sustainability strategy and are based on internationally recognised frameworks and standards. The company has implemented comprehensive policies addressing both climate change mitigation and adaptation:

Climate Change Mitigation Policy: › Commitment to achieve CO2-neutral production by 2040-2050 › Target to reduce Scope 1+2 CO2 emissions by 40% (specific) or 20% (absolute) by 2030 (base year 2017) › Target to reduce average specific Scope 3 CO2 emissions from primary aluminium upstream chain by 20% by 2030 › 100% procurement of renewable electricity at all AMAG production sites › Continuous improvement of energy efficiency across all operations › Maximisation of recycling rates and circular economy principles › Investment in research and development for low-carbon technologies

Climate Change Adaptation Policy: › Regular assessment of physical climate risks including acute events (storms, flooding, heavy precipitation) and chronic risks (temperature changes, precipitation patterns) › Implementation of resilience measures for production facilities › Development of emergency response procedures for extreme weather events › Integration of climate risk considerations into business continuity planning › Monitoring and assessment of supply chain vulnerabilities to climate impacts

Governance and Implementation: › Climate policies are overseen by the Management Board and monitored by the ESG Committee of the Supervisory Board › Regular review and updating of policies based on scientific developments and regulatory changes › Integration of climate considerations into investment decisions and strategic planning › Employee training and awareness programmes on climate-related issues › Transparent reporting on climate performance and progress towards targets

The policies are aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and support the company's contribution to limiting global warming to 1.5°C as outlined in the Paris Agreement. Regular assessments ensure the policies remain effective and relevant to emerging climate challenges and opportunities.

The BMW Group has implemented comprehensive policies related to climate change mitigation and adaptation as part of its strategy to achieve net zero carbon emissions across the entire value chain by 2050 at the latest.

Climate Change Mitigation Policies

Strategic Framework

The BMW Group's ambitious sustainability targets are aligned with:

• 1.5°C pathway of the Paris Agreement for CO2e emissions (Scope 1 and Scope 2)
• Well-Below-Two-Degree (WB2C) approach for CO2e emissions from supply chain and use phase (Scope 3)

Target Setting

In 2030, the BMW Group intends to reduce its carbon emissions levels by at least 40 million tonnes compared to 2019. This new target replaces the previous goal of reducing carbon emissions per vehicle by 40% over the same period.

Holistic Approach

The Group's science-based approach involves:

• Permanent reduction of energy requirements (Scope 1 and 2 emissions of BMW Group locations)
• Greater use of renewable energy (Scope 1 and 2 emissions of BMW Group locations)
• Latest technology to improve efficiency (Scope 3 Use of Sold Products)
• Renewable electricity criterion when awarding supplier contracts (Scope 3 Purchased Goods and Services)
• Continuously increasing secondary raw material quota (Scope 3 Purchased Goods and Services)

Product and Technology Policies

Drivetrain Strategy

Technology Openness: The BMW Group offers state-of-the-art drive technology regardless of drivetrain type, recognizing that a high-quality mix of efficient drivetrain types makes an effective contribution to CO2e emissions reduction.

Electrification Timeline:

• 2024: All-electric vehicles accounted for 17.4% of total deliveries
• 2025: NEUE KLASSE model generation launch with strong emphasis on efficiency and sustainability
• 2028: Introduction of hydrogen fuel cell variant

Fuel Innovation

Advanced Fuel Compatibility:

• B-series petrol engines (since 2015): Approved for fuel containing up to 25% ethanol (E25), reducing CO2e emissions by 20-45% depending on fuel composition
• B-diesel engines (since 2015): Compatible with HVO100 fuel derived from waste materials with 90% fewer carbon emissions
• 2025 Pilot Project: All diesel models produced in Germany filled with non-fossil HVO100 as factory fill

Existing Fleet Impact: As of January 2025:

• 4.5 million diesel engines in BMW Group fleet
• Over 13 million B-series petrol engines
• Higher renewable fuel share enables significant CO2e emissions cuts

Adaptation Policies

Physical Risk Management

The BMW Group addresses climate adaptation through comprehensive physical risk assessment:

Scenario Planning: Uses three IPCC climate scenarios:

• Low-emissions scenario: <+1.5°C (SSP1-1.9)
• Medium scenario: +2.5°C (SSP2-4.5)
• High scenario: >+4°C (SSP5-8.5)

Risk Assessment: Site-specific analysis for all relevant BMW Group and supplier sites covering:

• Acute extreme weather events (heavy rain, hail, storms, floods)
• Longer-term changes in temperature and rainfall
• Average annual expected damage loss calculations

Resilient Infrastructure

Construction Planning: Updates on risks identified in climate scenarios are taken into account when planning new construction and conversion measures.

Supply Chain Resilience: Forward-looking risk management and digitalisation help strengthen supplier network resilience against climate impacts.

Implementation Framework

Governance Integration

Climate policies are integrated into corporate structures through:

• Regular Board of Management discussions on climate-related impacts, risks and opportunities
• Sustainability and Mobility function ensuring high-level management of climate topics
• Progress reports to Board of Management at least three times per year

Measurement and Monitoring

Climate impacts are assessed, recorded, measured and reported in accordance with:

• Greenhouse Gas Protocol requirements
• Regular internal review and adjustment of relevant emission categories
• Integration into long-term corporate planning with CO2e emissions simulation

Value Chain Integration

Policies extend across entire value chain:

• Upstream: Supplier requirements for renewable energy use
• Own Operations: Energy efficiency and renewable energy expansion
• Downstream: Product efficiency improvements and customer support for sustainable mobility

Policies related to climate change mitigation and adaptation

Crayon has integrated climate considerations into its environmental management system, which is certified to ISO 14001 globally. This certification demonstrates our commitment to environmental responsibility and systematic management of environmental aspects, including climate-related matters.

As part of our ESG strategy approved by the board of directors in December 2024, greenhouse gas emissions and climate-related risk is one of our top three strategic priorities for 2025. This reflects our commitment to addressing climate change through our operations and business activities.

Our environmental pillar has the vision: "To protect the planet by being a responsible steward" with focus areas including:

1. GHG emissions and climate-related risk
2. E-waste and circular economy

We participate in CDP (formerly known as the Carbon Disclosure Project) each year, disclosing our greenhouse gas emissions. CDP is an independent environmental disclosure system used to drive transparency and action around how organizations manage their environmental impacts. In 2024, we achieved a score of B-.

Through our services and solutions pillar, we aim "To integrate ESG into the services and solutions we offer customers" including:

• Cloud services and solutions that minimize carbon footprint
• ESG software solutions

Our climate-related policies are implemented through our global environmental management system and are regularly reviewed as part of our ISO 14001 certification requirements.

Policies related to climate change mitigation and adaptation

Danica's sustainability strategy consists of a number of climate actions and targets, which are a central element in the overall business strategy, Tryghedsrådgiverstrategien (Financial security provider strategy), effective until the end of 2024. As from 2025, this strategy will be replaced by the new business strategy, Forward 28 – Danica. In the new strategy, sustainability, including the climate targets, is one of four strategic focus areas, and the current climate targets are maintained.

Danica's subsidiary Danica Ejendomme has adopted its own ESG strategy, which builds on Danica's sustainability strategy and defines climate targets and related actions specifically for the real estate portfolio.

In combination with the business strategy, as described under ESRS 2, the sustainability strategy and associated climate targets (described in this section under Climate targets) present a roadmap for Danica's climate change mitigation efforts through green transition investments, CO2e reduction targets and integration of climate-related risks and opportunities in the investment process.

Danica's sustainability strategy, responsible investments and climate targets are operationalised through a number of policies, business procedures and guidelines. These support Danica's systematic efforts to mitigate climate change and manage risks and opportunities in relation to climate aspects, which contributes to Danica's obligation under the prudent person principle to generate the best possible risk-adjusted returns and the ambition to support society's net-zero transition.

At the same time, Danica applies a double materiality perspective in the investment process, taking into account both the potential financial impact of climate-related aspects and the potential negative impact of investments on the sustainability of society and climate change. This is defined, among other things, through the following:

Responsible Investment Policy

Outlines the overarching principles of responsible investment practices supporting the goal of protecting customers' investment portfolios. It describes processes for managing climate aspects through the inclusion of ESG in selection of investments, active ownership, screening and investment restrictions. This is done from a double materiality perspective of protecting the financial value of investments while also minimising the negative impacts of the investments.

Investment Policy

Establishes the overall framework for the allocation of customers' pension savings across Danica's investment portfolios. The investment strategy generally considers and integrates climate and ESG factors.

Active Ownership Policy

Outlines Danica's guidelines and approach to active ownership in portfolio companies in relation to financial and ESG aspects, including climate-related aspects. Active ownership is pursued through direct engagement, voting at general meetings and collaboration with other investors. Active ownership is applied to protect the investment in portfolio companies and contribute to their positive development and management of climate-related risks and opportunities.

Risk Management Policy

Describes the processes of Danica's general risk management approach, where climate aspects are an element in the overall risk assessment of the investment portfolio's robustness. Danica's risk management practices are organised in line with the principles of the three-lines-of-defence model, under which the potential impact of the risks is identified, monitored and mitigated in the risk management process across all risk types.

Non-financial Risk Policy

A separate policy setting out the processes and responsibilities for identifying, assessing and mitigating non-financial risks as part of managing and protecting the customers' pension investments. This includes political developments, changes in legislation, technological advances, changes in customer preferences and ESG developments. It includes non-financial risks related to climate change (particularly transition risks).

Voting Guidelines

Describe how Danica expects portfolio companies to address financial aspects and ESG in general, including climate aspects. This indicates how Danica is expected to vote on proposals at general meetings on specific climate-related aspects.

These policies and guidelines are integrated into the practical business operations by means of business procedures for the internal Danica departments involved. Danica has an annual cycle comprising all policies. Using a risk-based approach, controls are performed to check how the policies function and are implemented in the business, including the preparation of gap analyses to support compliance with legislation. Policies are approved by the Board of Directors annually, and Internal Audit monitors compliance with the policies using a risk-based approach. As a general rule, information on compliance with the policies is also regularly reported to the Board of Directors. The policies were prepared according to the prudent person principle, the purpose of which is to safeguard customers' financial interests. The policies support various international initiatives and standards.

Governance

Policies and business procedures on responsible investments, climate targets and management of climate-related risks, opportunities and impacts are laid down by Danica's Board of Directors. The Board of Directors regularly monitors these and is involved when significant aspects and possible adjustments are discussed. The Board also assesses climate-related risks in connection with Danica's annual own risk and solvency assessment (ORSA). Material sustainability risks, including climate risks, are reported annually to the Board of Directors' Risk Committee.

Operational responsibility for the implementation of the climate targets lies with Danica's Executive Board, which is also responsible for monitoring developments in collaboration with relevant departments and adjusting actions in order to deliver on climate targets. The Board of Directors of Danica's subsidiary Danica Ejendomme has a separate responsibility for compliance with the ESG strategy, including climate targets regarding the real estate portfolio, and for its approval.

Climate Change Mitigation and Adaptation Policies:

Danone has established comprehensive policies for climate change mitigation and adaptation integrated within its Danone Impact Journey and corporate governance framework.

Climate Mitigation Policies:

1. Net-Zero Emissions Commitment:

• Science-based targets aligned with 1.5°C pathway
• Comprehensive value chain emission reduction strategy
• Integration of climate targets into business planning

2. Renewable Energy Policy:

• Commitment to 50% renewable energy by 2030
• Preference for renewable electricity in operations
• Investment in on-site renewable energy generation where feasible

3. Sustainable Sourcing Policy (SSP): Launched in 2024, integrating climate considerations:

• Supplier requirements for emission reduction
• Regenerative agriculture promotion
• Raw materials carbon footprint optimization
• Contract clauses with climate performance expectations

4. Packaging Climate Policy:

• 30% reduction in virgin fossil-based packaging by 2030
• 100% circular packaging by 2030
• Packaging life cycle carbon footprint reduction
• Alternative materials development and deployment

Climate Adaptation Policies:

1. Value Chain Resilience:

• Diversified sourcing to reduce climate vulnerability
• Supply chain risk assessment and management
• Raw materials security and quality protection

2. Water Resource Management:

• Integrated water resources management in watersheds
• Water usage reduction across operations
• Watershed protection programs
• Climate-resilient water sourcing strategies

3. Agricultural Adaptation:

• Support for climate-resilient farming practices
• Regenerative agriculture to enhance soil health and water retention
• Farmer training and support programs
• Crop diversification and adaptation strategies

4. Operational Adaptation:

• Infrastructure resilience to extreme weather events
• Production facility climate risk assessment
• Supply chain continuity planning
• Emergency response and business continuity procedures

Policy Governance:

• Board-level oversight of climate policies
• Executive Committee accountability for implementation
• Integration with risk management framework
• Regular policy review and updates based on scientific developments

Implementation Framework:

• Country-level adaptation of global policies
• Specific action plans by geographical zone
• Integration with operational procedures
• Performance monitoring and reporting systems

Stakeholder Engagement:

• Collaboration with suppliers on climate requirements
• Farmer support and training programs
• Industry partnerships for climate solutions
• NGO collaboration on climate advocacy

Investment Allocation:

• Capital allocation prioritizing climate-positive projects
• Research & Innovation funding for climate solutions
• Technology development and deployment
• Partnership investments in climate technologies

Policy Integration: Climate policies are integrated with:

• Overall sustainability strategy (Danone Impact Journey)
• Mission-driven company commitments (Société à Mission)
• Business strategy (Renew Danone)
• Risk management procedures
• Financial planning and performance management

Policies Related to Climate Change Mitigation and Adaptation

Climate Change Policy Framework

GN has established comprehensive policies related to climate change mitigation and adaptation as part of its commitment to protecting the planet and reaching net-zero emissions by 2050, in line with the scientific consensus on limiting global warming to 1.5 degrees Celsius.

Climate Mitigation Policies

Carbon Reduction Strategy: GN has laid out an ambitious strategy to reduce negative impact from its activities, focusing on:

• Decarbonization: Reducing carbon footprint as fast as the science tells us
• Net-zero commitment: Achieving net-zero emissions by 2050
• Science-based targets: Aligning with 2030 climate goals based on climate science

Sustainable Design Policy: GN focuses on sustainable design as one of three key areas:

• Developing product designs that impact the experience of products, not the environment
• Supporting the transition to a circular economy through design decisions
• Integrating sustainability considerations into product development processes

Supply Chain Climate Policy: Climate considerations are integrated into supply chain decisions:

• Manufacturing and supply chain decisions driven by sustainability ambitions
• Working with suppliers on climate-related improvements
• Pursuing operations strategy to increase resilience against climate-related disruptions

Climate Adaptation Policies

Operational Resilience: GN has implemented policies to adapt to climate-related physical risks:

• Supply chain diversification: Reducing dependency on single geographic regions to increase resilience
• Geographic flexibility: Developing capability to serve markets from multiple manufacturing locations
• Risk mitigation strategies: Implementing robust risk mitigation strategies for extreme weather and climate change impacts

Business Continuity: Policies ensure business continuity in face of climate impacts:

• Balancing operations between different facilities to reduce climate risk exposure
• Regional manufacturing options to enhance resilience
• Enhanced systems for improved stability and capacity during climate-related disruptions

Integration with Business Strategy

Strategic Integration: Climate policies are integrated into business strategy:

• Sustainability viewed as an investment rather than a cost
• Climate considerations drive design, manufacturing, and supply chain decisions
• Policies support business development opportunities through sustainability focus

Stakeholder Engagement: Climate policies consider stakeholder expectations:

• Growing focus on sustainability from customers, employees, and other stakeholders
• Policies designed to attract sustainability-minded customers and employees
• Compliance with growing product-related sustainability legislation

Governance and Implementation

Policy Governance:

• Climate policies integrated into existing business processes rather than separate sustainability governance structure
• Board oversight through risk management framework
• Executive Leadership Team involvement in climate-related decision making

Continuous Improvement:

• Regular assessment of climate policies against evolving scientific consensus
• Updates to policies based on stakeholder feedback and regulatory developments
• Integration of climate considerations into all key business decisions

These policies demonstrate GN's commitment to addressing climate change through both mitigation of its environmental impact and adaptation to climate risks, ensuring long-term business resilience while contributing to global climate goals.

Policies related to climate change

The Group has established policies that address the material IROs related to decarbonization, sustainable energy consumption and low carbon footprint solutions. These policies focus on key areas such as climate change mitigation, energy efficiency and renewable energy. They include the Environmental Policy and the Sustainable Sourcing Policies for both direct and indirect procurement.

Environmental Policy

The Environmental Policy elaborates on Hilti's Code of Conduct sections regarding sustainability and reaffirms the Group's commitment to reducing its ecological footprint. For example, it outlines measures to reduce raw material and energy consumption.

Sustainable Sourcing Policies

The Sustainable Sourcing Policies for direct procurement and indirect procurement build on Hilti's Code of Conduct principles related to sustainability and human rights. These policies provide guidance on embedding sustainability into procurement processes, such as assessing suppliers based on environmental and social criteria.

Climate change adaptation

KONE Business Continuity Management Standard sets company-wide minimum requirements on crisis and disruption preparedness and business recovery and supports KONE's resilience and adaptation to climate change. It guides to identify critical activities, impacts, risks, and mitigation actions to prevent the disruptions or recover within the set time objectives.

The impactful business disruption scenarios including physical climate change are documented in business continuity plans, which include roles and responsibilities relevant to the prevention and preparedness, emergency and crisis response and business recovery of each scenario. The plans and the sufficiency and effectiveness of risk mitigations are reviewed annually at minimum, in connection with crisis and business continuity management exercises and audits.

Climate change mitigation and energy

KONE's commitment to the ten principles of the United Nations (UN) Global Compact initiative are embedded in its strategy, policies, and procedures, including KONE Environmental Policy Statement which emphasizes KONE's pledge to reduce GHG emissions and minimizing the environmental impacts of its solutions through durable, energy-efficient products and maintenance offerings. KONE Executive Board reviews quarterly and Board of Directors reviews annually the progression against the environmental targets.

KONE's business processes are set under the ISO standards. Of these standards, ISO 14001 Environmental management system and ISO 50001 Energy management system specifically relate to enhancing KONE's sustainability performance in climate change mitigation in its own and partners' daily operations and culture in alignment with the UN sustainable development agenda, Paris Pledge for Action climate initiative and KONE's science-based targets.

Although KONE's material topics focus on the impacts of GHG emissions and energy in the value chain, KONE is also committed to reduce emissions and energy consumption in its own operations. KONE Global Facilities Policy demonstrates KONE's dedication to increasing the usage of renewable electricity at its facilities worldwide to 100% by 2030. All KONE units report renewable electricity as part of their quarterly reporting.

KONE's everyday work is guided by KONE Code of Conduct alongside other company policies and guidelines. KONE's Code of Conduct requires compliance with applicable laws and regulations to maintain high environmental standards across KONE's operations, suppliers, and customers. KONE Supplier and Distributor Codes of Conduct mandate KONE's suppliers to comply with all relevant environmental laws and KONE requirements, secure necessary permits, and manage materials, energy, and emissions effectively.

All policies are available on KONE's internal systems, such as intranet, or publicly.

Key policies related to climate change:

As part of our sustainable corporate strategy, the following group-wide policy applies to environmental topics:

Climate and Environment Policy

General objectives: Definition of group-wide minimum standards for environmental protection; Embedding of climate and environmental protection in business processes and projects

Main subject matter:

• Climate change: Reduction of GHG emissions and energy consumption; Promotion of energy efficiency; Focus on own production and use of renewable energy; Climate change adaptation actions
• Water and marine resources: Standards for water management, water resources and water treatment; Standards for water consumption and withdrawal; Proper wastewater management; Avoidance of surface sealing
• Resource use and circular economy: Promotion of the circular economy; Mindful use of resources; Waste management

Reference to third-party standards or initiatives: United Nations Sustainable Development Goals (SDGs), UNGC principles, European Green Deal, ISO 14001/ISO 50001

Scope: Binding on all Krones Group employees worldwide; Applies along the entire value chain

Organisational unit accountable for implementation: Corporate Sustainability; Adoption by the Executive Board

Process for monitoring: Internal review in regular audits; External audits and ISO certifications by independent third parties

Consideration given to the interests of stakeholders: Dialogue-based engagement in policy development

Availability of the policy to stakeholders: Available to all employees; Access via internal policy management system

IROs that the policy relates to: Climate change adaptation, Climate change mitigation, Energy matters, Water, Resource inflows, Resource outflows

In the event of an environmental violation, all workers along the entire value chain and external stakeholders of the Krones Group have various means to be heard. Besides direct contact with the company, the main point of contact is the Krones Integrity reporting system. This enables environmental violations to be clearly identified as such from the outset.

Policies related to climate change mitigation and adaptation

Climate Policy Framework

Lundbeck has established comprehensive climate policies that guide our approach to both climate change mitigation and adaptation across all business operations and decision-making processes.

Climate Change Mitigation Policies

Corporate Climate Commitment: Lundbeck is committed to achieving net-zero greenhouse gas emissions across our entire value chain by 2050, with science-based interim targets for 2030 validated by the Science Based Targets initiative (SBTi).

Energy Management Policy:

• Systematic approach to energy efficiency across all operations
• Preference for renewable energy sources in electricity procurement
• Regular energy audits and continuous improvement of energy performance
• Integration of energy considerations in facility design and equipment selection
• Employee awareness and engagement in energy conservation

Carbon Management Policy:

• Annual measurement and reporting of Scope 1, 2, and 3 greenhouse gas emissions
• Third-party verification of emissions data to ensure accuracy and credibility
• Integration of carbon considerations in business planning and investment decisions
• Carbon pricing assumptions applied to major capital investments
• Regular assessment of carbon reduction opportunities across operations

Sustainable Procurement Policy:

• Integration of climate criteria in supplier selection and evaluation processes
• Requirement for suppliers to disclose their climate commitments and emissions data
• Collaboration with suppliers on emission reduction initiatives and target-setting
• Preference for suppliers with science-based targets or strong climate action plans
• Regular assessment of supply chain climate risks and opportunities

Green Transportation Policy:

• Business travel guidelines prioritizing lower-carbon alternatives
• Digital collaboration tools to reduce travel requirements
• Sustainable transportation options for employee commuting
• Optimization of logistics and distribution to minimize transportation emissions
• Transition planning for fleet electrification where applicable

Climate Change Adaptation Policies

Climate Risk Management Policy:

• Regular assessment of physical climate risks to operations, supply chain, and markets
• Integration of climate risk considerations in business continuity planning
• Scenario analysis to understand potential impacts under different climate futures
• Adaptation measures to enhance resilience of critical operations and infrastructure
• Climate risk disclosure in accordance with TCFD recommendations

Operational Resilience Policy:

• Robust supply chain management to address climate-related disruptions
• Backup suppliers and alternative sourcing strategies for critical materials
• Infrastructure improvements to enhance resilience to extreme weather events
• Emergency response and business continuity procedures for climate-related events
• Regular testing and updating of resilience measures

Product and Service Adaptation:

• Consideration of climate change impacts on patient populations and healthcare needs
• Supply chain resilience to ensure continued medicine availability during climate events
• Packaging and storage considerations for changing climate conditions
• Distribution network optimization to maintain product integrity

Policy Implementation and Governance

Governance Structure:

• Board of Directors: Ultimate oversight of climate policy and strategy
• Executive Management: Accountability for policy implementation and performance
• Sustainability Committee: Cross-functional coordination of climate initiatives
• Site Management: Local implementation and performance management

Policy Integration:

• Climate considerations integrated into strategic planning processes
• Performance management systems include climate-related KPIs
• Regular management reporting on climate policy implementation
• Integration with enterprise risk management framework

Training and Awareness:

• Employee training on climate policies and individual responsibilities
• Management development programs including climate leadership
• Regular communication on climate performance and targets
• Recognition programs for outstanding climate action contributions

Stakeholder Engagement

Internal Engagement:

• Employee engagement surveys including climate-related topics
• Cross-functional working groups on climate action implementation
• Integration of climate considerations in role descriptions and performance evaluations
• Regular internal communications on climate progress and initiatives

External Engagement:

• Collaboration with suppliers on climate action and target-setting
• Participation in industry initiatives and standard-setting processes
• Engagement with investors on climate strategy and performance
• Partnership with NGOs and sustainability organizations
• Public policy advocacy for supportive climate regulations

Policy Monitoring and Review

Performance Monitoring:

• Annual tracking of key climate indicators against policy objectives
• Regular review of policy effectiveness and implementation progress
• Benchmarking against industry best practices and regulatory requirements
• Stakeholder feedback integration in policy evaluation

Policy Updates:

• Annual review of climate policies to ensure continued relevance and ambition
• Integration of learnings from policy implementation and external developments
• Alignment with evolving regulatory requirements and best practices
• Stakeholder consultation in significant policy updates

Compliance and Accountability:

• Clear roles and responsibilities for policy implementation
• Regular compliance monitoring and reporting
• Corrective action procedures for policy non-compliance
• Integration with internal audit and assurance processes

Alignment with External Frameworks

Science Based Targets initiative (SBTi):

• Climate policies aligned with SBTi methodology and requirements
• Regular reporting on progress toward science-based targets
• Commitment to net-zero target validation through SBTi process

TCFD Recommendations:

• Climate policies support TCFD-aligned disclosure and risk management
• Integration of climate scenario analysis in strategic planning
• Regular assessment and disclosure of climate-related financial impacts

Paris Agreement:

• Climate policies designed to contribute to Paris Agreement objectives
• Alignment with 1.5°C warming pathway through science-based targets
• Support for global climate action through industry collaboration

Our climate policies are designed to drive meaningful action while remaining practical and achievable. We review and update these policies regularly to ensure they continue to support our climate commitments and align with evolving best practices and stakeholder expectations.

These commitments are defined in the Underwriting Policy, approved by MAPFRE SA's Board of Directors, and are applicable to all insurance and reinsurance companies and in line with the corporate business strategy. MAPFRE has a Global Business Committee which meets monthly, and an Underwriting Policy Committee which meets each semester and is responsible for, among other things, the correct application of this policy, as well as to analyze and propose operating standards of exclusion for ESG matters.

MAPFRE implements its Sustainable Investment Policy from a dual approach: "a posteriori" to evaluate and adjust existing portfolios according to their ESG score, and "a priori" to integrate these criteria into the research of future investments.

MAPFRE has developed a Responsible Investment Framework that establishes rating thresholds, defines exclusion policies, and promotes shareholder participation, aligning its sustainable investment strategy with its long-term sustainability vision.

Our climate work is divided into three priority areas: carbon handprint, carbon footprint and use phase emission intensity. We enable our customers to reduce their greenhouse gas (GHG) emissions by offering renewable and circular solutions to replace fossil products.

Since 2020, evaluating the production carbon footprint (scope 1 & 2) emission impact of investment decisions has been mandatory at Neste. To increase the transparency of the different GHG emission impacts of our investments, we have introduced new criteria and guidelines to enable our project teams to evaluate all the potential climate impacts of the possible investments. To align our investment decisions to support our climate commitments, Neste applies an internal carbon price for our scope 1 & 2 GHG emissions in investment calculations, business case evaluations and strategic planning.

Climate change mitigation policies

We have comprehensive policies and governance structures in place to address climate change:

Environmental Sustainability Strategy

Our Environmental Sustainability Strategy sets our commitment to reach net-zero greenhouse gas emissions by 2040 across our full value chain. The strategy is overseen by the Board's Governance, Sustainability and Nomination Committee.

Governance

We have established governance processes with the Executive Committee-level ESG Committee, chaired by the CEO, meeting every two months to review ESG performance including climate-related matters.

Supply chain policies

Contracts that include environmental sustainability criteria now cover 76% of Scope 3 emissions, which represents an increase of 19 ppts versus the previous year.

Our sourcing practices have evolved to reflect environmental sustainability criteria consistently, and we have introduced an Environmental Sustainability Supplier Playbook to provide comprehensive guidance to suppliers on transitioning to sustainable business models.

Climate change adaptation policies

Our approach to climate change adaptation involves assessing the evolving challenges posed by climate-related shifts in disease patterns and their potential implications for our portfolio and sales. Additionally, we evaluate the potential financial impacts of physical climate risks on our assets, inventories, operations and supply chain, including risks of potential supply disruption that may result in lost revenue.

We have established policies and processes to support the quality and resilience of our supply chain and manufacturing processes. For instance, we have mitigated physical risks to our sites by putting in place infrastructure (e.g., shelters, flood defenses), supported by administrative procedures (e.g., business continuity plans).

Policies Related to Climate Change Mitigation and Adaptation

Corporate Commitment Framework

Net Zero Ambition: Repsol remains "firmly aligned with the global objectives of keeping global warming below 1.5 °C by the end of the century and of achieving emissions neutrality by 2050."

Strategic Integration: As part of its "strategy to address climate risks and opportunities, the Company has set new targets for reducing absolute greenhouse gas emissions for Scopes 1, 2 and 3: securing a 20% reduction in these emissions by 2030 compared to the base year 2018 (224 Mt CO₂e) and achieving net zero emissions (NZE) by 2050."

Technology Neutrality Policy

Comprehensive Energy Approach: Repsol advocates for "the concept of technology neutrality and promote the use of all types of technologies to decarbonize its economy. The point is to combine electrification with the use of other energy sources, which would enable us to continue reducing CO2 emissions and, at the same time, support the supply of all the energy that society needs at affordable prices."

Sustainability Governance

Global Compact Compliance: "We remain focused on complying with the Global Compact's Ten Principles on human rights, labor standards, anti-corruption and the environment, and on initiatives such as the CEO Water Mandate."

Board Oversight: The governance structure includes a dedicated Sustainability Committee as one of five specialized Board committees to oversee climate-related policies.

Industrial Transformation Policy

Asset Transformation: Policy framework for "turning our industrial complexes into multi-energy hubs, capable of processing all sorts of raw materials and waste to manufacture products with a low carbon footprint."

Circular Economy Integration: Policy commitment to "create new value chains based on the circular economy to serve as a lever for fostering industrial activity, generating new jobs and driving the economy in the depopulated rural areas."

Innovation and Technology Policy

R&D Focus: Policy commitment demonstrated through Repsol Technology Lab working on "more than 250 projects during the year (58% focused on low emissions), doing so in close collaboration with the various businesses."

Digital Integration: Climate policies supported by digital transformation with "more than 800 digital initiatives" implemented to integrate cutting-edge technologies across the value chain.

Regulatory Engagement

European Policy Advocacy: Repsol advocates for European policies that support industrial competitiveness while advancing decarbonization, calling for "technology neutrality" and "stable regulatory framework that provides incentives and certainty for further investment in industry."

Climate Risk Management

Financial Risk Integration: Policies include maintaining "financial strength" and investment grade credit rating while pursuing climate transition, with risk management oversight through the Audit and Control Committee.

Stakeholder Engagement Policy

Multi-Stakeholder Approach: Climate policies designed to serve "the interests of its shareholders, customers and employees, specifically, that which guarantees the Company's long-term sustainability and maximizes the profitability of its businesses and the value of its investments in the context of the energy transition."

Climate Change Policies

Net-Zero Commitment: In the area of climate protection, we set ourselves the ambitious target of achieving net-zero emissions throughout our value chain by 2045 and absolute zero emissions by 2050 as part of the Science Based Targets initiative. We are the only ones in the industry striving for absolute zero. Our commitment goes beyond reducing CO₂ emissions.

Climate Action Integration: In 2024, we submitted ambitious net-zero targets to the Science Based Targets initiative and commissioned a zero-emissions facility. We are implementing a phased approach to assess our climate-related transition risks. In 2024 we prioritised developing a common understanding across Group functions and divisions of what transition risks and opportunities may impact our company and at which time horizons the risks are likely to materialise.

Sustainable Facility Development: Our recently opened Roche Innovation Center Basel exemplifies our sustainability goals, including maximising energy efficiency and using recycled concrete, rooftop solar panels and smart concepts for water-saving.

Risk Management: Transition climate change risk is faced across the value chain through e.g. failure to meet climate change objectives or comply with new climate regulations, increased raw material costs or misalignment with customer sustainability expectations. This leads to increased costs due to higher procurement costs, additional costs to comply with regulations, fines, etc.

Policies related to climate change mitigation and adaptation

The full description and objectives of our CSR strategy may be found in ESRS 2 and our Road to Net Zero is presented in detail in our transition plan disclosure.

Aligned with the Task Force on Climate-related Financial Disclosures (TCFD) framework, reflecting key financial stakeholders concerns, our Climate-related Financial Disclosures & Risks and Opportunities program aims to identify climate risks and opportunities and develop and implement adaptation plans to address climate risks and opportunities.

Most of the sub-topics identified in the Climate Transition and Physical Impact risk category are monitored in dedicated working groups. Short-, medium- and long-term mitigation plans have been defined and are being implemented. Monthly reporting is escalated to the Climate Risk and Opportunities Committee (CROC) and progress is presented quarterly to the Executive Committee Climate Risk Owner by the Global Heads of Risk Management, CSR and the CROC leader.

Policies related to climate change mitigation and adaptation

Siili does not have specific climate-related policies. Siili's approach to climate change mitigation is integrated into its overall sustainability approach and business strategy. The company's strategy supports sustainable development as IT solutions can be used to reduce environmental burden and resource use.

Siili's business model, which is primarily based on software development services rather than physical products, inherently has a lower environmental impact than traditional manufacturing businesses. The company operates primarily through office locations and does not operate in fossil fuel, natural gas, chemical production, controversial weapons or tobacco production sectors.

Siili has identified climate change mitigation as a material topic through its double materiality analysis and will establish formal climate-related policies and targets during 2025 as part of its sustainability program development.

Climate Change Mitigation and Adaptation Policies:

Mitigation Policies:

Stora Enso has established comprehensive policies for climate change mitigation:

• Emissions Reduction Policy: Commitment to science-based targets aligned with 1.5°C scenario
• Energy Efficiency Policy: Systematic approach to reducing energy consumption across operations
• Renewable Energy Policy: Prioritizing renewable energy sources and fuel switching away from fossil fuels
• Product Development Policy: Focus on developing products that replace fossil-based alternatives
• Forest Management Policy: Sustainable forestry practices that maximize carbon sequestration

Adaptation Policies:

• Forest Resilience Policy: Managing forests to enhance resilience to climate impacts through:

  • Biodiversity protection and enhancement
  • Species diversification in forest management
  • Adaptation of forest management practices to changing climate conditions
  • Integration of climate scenarios into forest planning

• Operational Resilience Policy: Preparing operations for physical climate risks:

  • Assessment of climate risks to production facilities
  • Supply chain diversification to manage climate-related disruptions
  • Infrastructure adaptation measures

• Water Management Policy: Efficient water use and management considering changing precipitation patterns

Implementation Framework:

• Governance: Board-level oversight through Sustainability and Ethics Committee
• Management Systems: Integration of climate policies into operational management
• Monitoring and Reporting: Regular tracking of emissions and climate performance
• Stakeholder Engagement: Collaboration with customers, suppliers, and communities on climate action

Innovation and Technology:

• Investment in clean technologies and processes
• Research and development of climate solutions
• Partnerships for technology development (e.g., Altris partnership for battery materials)
• Digitalization and AI to optimize resource efficiency

Policies related to climate change mitigation and adaptation

Climate change commitment TKH is committed to addressing climate change through both mitigation and adaptation measures. We have established clear policies and targets for reducing our environmental impact while supporting the global energy transition.

Mitigation policies:

Carbon neutrality target

• Commitment to 100% carbon neutrality in own operations by 2030 (scopes 1 and 2)
• Reduction of CO2 footprint compared to reference year 2019
• 70.3% reduction achieved in 2024

Energy efficiency and renewable energy

• Implementation of energy-saving programs across all operations
• Investment in renewable energy sources and energy-efficient technologies
• Operation in accordance with ISO 14001 environmental management standards
• Regular monitoring and optimization of energy consumption

Sustainable innovation policy

• Integration of sustainability considerations in every business decision
• Focus on developing technologies that support customer sustainability targets
• 71.6% of turnover linked to UN Sustainable Development Goals
• €80.7 million annual investment in R&D for sustainable technologies

Supply chain sustainability

• Requirements for suppliers to meet sustainability standards
• Active dialogue with strategic suppliers to improve sustainability
• Supplier certification programs (59.0% of Tier-1 copper suppliers certified by The Copper Mark)
• Regular sustainability assessments of key suppliers

Adaptation considerations:

Business resilience

• Development of technologies that support climate adaptation for customers
• Diversified geographic presence to reduce climate-related risks
• Robust supply chain management to address climate-related disruptions

Product portfolio alignment

• Strategic focus on electrification technologies supporting renewable energy
• Development of solutions for offshore wind energy infrastructure
• Smart technologies that improve efficiency and reduce environmental impact

Policies related to climate change mitigation and adaptation

Climate ambition and commitments

TotalEnergies supports the objectives of the Paris Agreement and has established an ambition of carbon neutrality by 2050, together with society.

Core climate policies

Emissions reduction policy:

• Reduce net Scope 1+2 emissions from operated facilities by 40% by 2030 vs 2015
• Reduce methane emissions from operated facilities by 80% by 2030 vs 2020
• Eliminate routine flaring by 2030 (founding member of World Bank's "Zero Routine Flaring by 2030" initiative since 2014)

Energy transition policy:

• Two-pillar multi-energy strategy balancing oil & gas with renewable electricity
• Focus on low-cost, low-emission hydrocarbon assets
• Development of integrated renewable and flexible power generation
• Target lifecycle carbon intensity reduction of 25% by 2030 vs 2015

Operational climate policies

Energy efficiency policy:

• "Our 5 Levers for a Sustainable Change" initiative engaging all employees
• Systematic energy efficiency assessments at all facilities
• $1 billion investment plan (2023-2025) for energy efficiency improvements
• Second $1 billion plan planned for 2026-2028

Low-carbon electricity policy:

• Go Green initiative: 100% low-carbon electricity supply for European and US refining facilities from 2025
• Up to 2.5 TWh/year low-carbon electricity for European assets
• Around 1.5 TWh/year renewable electricity for US assets

Methane management policy:

• Comprehensive methane reduction strategy across four sources: flaring, vents, stationary combustion, and fugitive emissions
• Continuous real-time detection systems deployment by end 2025
• Annual leak detection and repair campaigns at all upstream sites
• AUSEA drone detection technology sharing with partners

Technology and innovation policies

R&D strategy:

• 68% of R&D budget focused on new energies, batteries, and environmental footprint reduction
• OneTech branch dedicated to providing technical expertise for transition strategy
• Low-carbon technology development from project design stage

Carbon management policy:

• Development of carbon capture and storage (CCS) projects
• Priority on reducing own emissions first, then "Storage as a Service" for industrial customers
• Investment of ~$100 million/year in CCS business
• Target gross storage capacity of 10 Mt CO2/year by 2030

Nature-based solutions policy:

• Development of high-quality nature-based carbon sink portfolio
• $100 million annual budget for NBS projects
• Use of carbon credits only from 2030 for residual emissions offsetting
• Focus on forestry, regenerative agriculture, and wetlands protection

Adaptation measures

Physical risk management:

• Climate scenario analysis using IEA pathways
• Infrastructure resilience assessments
• Operational flexibility to manage weather variability in renewable generation

Business model adaptation:

• Portfolio diversification across energy sources
• Geographic diversification to spread climate risks
• Flexible asset base capable of responding to market changes

Governance and implementation

Oversight structure:

• Board-level oversight of climate strategy
• Executive Committee responsibility for transition strategy implementation
• Integration of climate considerations into all business decisions

Monitoring and reporting:

• Regular progress tracking against climate targets
• Third-party verification of key climate metrics
• Transparent reporting through sustainability statements
• Participation in industry initiatives (OGDC, OGMP 2.0)

Stakeholder engagement policies

Customer support:

• TotalEnergies OneB2B Solutions assisting large companies in decarbonization
• Development of low-carbon energy solutions for industrial customers
• Electric mobility infrastructure development

Industry collaboration:

• Active participation in Oil & Gas Decarbonization Charter
• Technology sharing agreements with partners
• Support for industry methane reduction initiatives

Policies related to climate change mitigation and adaptation are integrated into the Group's sustainability strategy. The Company has implemented an ambitious strategy with strong commitments validated by SBTi, including partnerships with the 'Playing for the Planet' alliance under the United Nations Environment program.

Policies Related to Climate Change Mitigation and Adaptation

Vestas has established comprehensive policies and commitments related to climate change mitigation and adaptation:

Climate Strategy and Commitments

Carbon Neutrality Target: Vestas has committed to achieve carbon neutrality in our own operations by 2030 – without using carbon offsets. This requires that all our offices, factories, vehicles, vessels, and other operations are fully decarbonised through our own actions.

Science-Based Targets: Our climate targets are aligned with the Science Based Targets initiative (SBTi) and Paris Agreement goals:

• Reduce scope 1 & 2 GHG emissions 55% by 2025 and 100% by 2030 (baseline year 2019)
• Reduce scope 3 GHG emissions per MWh generated 45% by 2030 (baseline year 2019)

Sustainability Strategy Foundation: Climate action is one of four strategic sustainability pillars under our mandate of 'sustainability in everything we do', alongside Circularity, Social responsibility, and Energy transition leadership.

Policy Integration

Corporate Strategy Integration: Climate change mitigation is fully integrated into our corporate strategy, with the sustainability matters relating to climate change mitigation (E1) being one of the main material topics alongside Circular economy and resource use (E5), Own workforce (S1), Affected communities (S3), and Political engagement (G1).

Value Chain Approach: We are working to decarbonise the entire wind energy supply chain by working with strategic suppliers to lower the carbon intensity of energy generated by our turbines (Scope 3 emissions).

Target Revalidation

Vestas recognizes that current projections indicate we will not deliver on the 2025 target to reduce GHG emissions by 55 percent, primarily due to our expanded scope of operations including offshore activities that were not considered when original targets were set. We plan to seek revalidation of our targets in 2025, considering our new scope of operations and complying with the SBTi five-year revalidation requirement, while staying in alignment with the Paris Agreement.

Governance

Climate-related policies are overseen by the Board of Directors and Executive Management, with quarterly assessment of progress presented to leadership. The policies apply across all products, services, geographies, and customer categories as part of our foundational ESG management system.

In 2024, more than 50 decarbonization initiatives were carried out, saving more than 450,000 tCO2. The main decarbonization lever was the increased use of renewable energies, which in 2024 accounted for 44.45% of the Group's electricity consumption, having increased by almost 10%. Also noteworthy are the energy efficiency measures and the increased use of scrap.

Each of the actions has an associated budget (CAPEX or OPEX) that must be approved by the CEO of the corresponding factory. The table below reports the emissions avoided in 2024. Based on the financial data, an estimate has been made to allocate CAPEX or OPEX to energy efficiency (EUR 1,402,478 and EUR 216,933 respectively) and to the other decarbonization levers (EUR 635,600 and EUR 27,910,939 respectively). The Group is currently working to improve the granularity of the financial information associated with climate change actions.

The 2025-2030 Decarbonization Plan requires an estimated annual investment of EUR 817,500 in CAPEX and EUR 1,711,315 in OPEX. 95% of the CAPEX and 49% of the OPEX of the 2024 decarbonization initiatives is aligned with the Taxonomy (Acerinox Europa, Columbus Stainless and NAS). It is estimated that, in the future, the Company will have an aligned CAPEX and OPEX percentage in a similar range to that of 2024, taking into account the uncertainty that exists in this estimate.

The table includes own and upstream decarbonization measures for Acerinox Europa, NAS, Columbus Stainless, VDM Metals, Roldán, and Inoxfil. Haynes International's initiatives will be integrated into the 2025-2030 Decarbonization Plan. Specific targets and actions for climate change adaptation are expected to be added in the coming years.

The Decarbonization Plan has adopted a conservative approach, and only feasible technologies that are available today have been taken into account in the emissions reduction estimates. This mitigates the potential risk of not meeting the approved emissions reduction targets.

To carry out the initiatives, in addition to internal financing, Acerinox has sustainable credits linked to the fulfillment of decarbonization targets.

For one, the Group has a sustainable credit linked to the increase in renewable energy sources. The Company committed to improving the renewable electricity intensity ratio of the entire Group (Stainless Steel and High-Performance Alloys Divisions) by 4% per year from 2020. In 2024, this target was 273 renewable Kwh/metric tons of steel; the actual figure was 578 renewable Kwh/metric tons of steel, reaching the target. In 2024, renewable energy accounts for 44.45% of the Group's electricity consumption.

For another, the Stainless Steel Division signed credits linked to a 1% annual reduction in emissions intensity (Scope 1+2). The 2024 target was met as the ratio was 1.044, below the target of 1.075 tCO2eq/metric ton of production.

Actions and resources in relation to climate change policies

Amadeus has implemented comprehensive actions and allocated resources to execute its climate change policies and achieve its science-based targets.

Key Actions Implemented:

Emissions Reduction: • Implementation of energy efficiency measures across Amadeus facilities • Transition to renewable energy sources where possible • Optimization of data centers and technology platforms for energy efficiency • Implementation of measures to achieve carbon neutrality by 2025 for Scope 1+2 emissions

Technology and Innovation: • Development of the Travel Impact Suite providing CO₂ emission estimations for flights, hotels, car rentals, and rail trips • Integration of sustainability features across Amadeus' product portfolio • Investment in solutions that help customers optimize operations and reduce environmental impact • Research and development initiatives focused on sustainable travel technology

Stakeholder Engagement: • Participation in industry initiatives and partnerships focused on sustainable travel • Collaboration with customers to develop and implement sustainable solutions • Engagement with suppliers on sustainability and emissions reduction • Active participation in travel industry sustainability working groups

Measurement and Monitoring: • Implementation of comprehensive GHG emissions inventory across Scopes 1, 2, and 3 • Regular monitoring and reporting of progress against science-based targets • Integration of climate metrics into management incentive schemes • Third-party verification of emissions data and sustainability reporting

Resource Allocation: Amadeus has committed significant resources to climate action: • Dedicated sustainability team and ESG Steering Committee • Investment in energy-efficient technology and infrastructure • R&D budget allocation for sustainable solution development • Integration of sustainability considerations into procurement and vendor selection

Continuous Improvement: • Regular review and update of climate action plans • Benchmarking against industry best practices • Adoption of emerging technologies and methodologies • Enhancement of data collection and measurement capabilities

Amadeus will work to obtain direct value chain data in the coming years to improve the accuracy and scope of its climate action initiatives.

Actions and resources in relation to climate change policies

AMAG has implemented comprehensive actions and allocated significant resources to support its climate change policies:

Energy and Emissions Management: › Continued procurement of 100% renewable electricity for all production sites › Expansion of photovoltaic systems at the Ranshofen site (new facility: 63,000 m²) › Implementation of energy efficiency measures across all operations › Regular energy audits and optimisation of energy-intensive processes › Installation of energy monitoring systems for real-time tracking

Decarbonisation Roadmap Implementation: › Development and implementation of the AMAG Decarbonisation Roadmap › Investment in research and development for breakthrough technologies › Collaboration with technology partners and research institutions › Pilot projects for alternative reduction processes › Assessment of carbon capture and utilisation technologies

Circular Economy and Recycling: › Maintaining high recycling rates (75-80% scrap utilisation in foundries) › Development of AL4® ever product portfolio with low CO2 footprint › External verification of product-specific CO2 footprints according to ISO 14067 › Expansion of closed-loop concepts with customers › Investment in recycling infrastructure and technology

Supply Chain Engagement: › Procurement of ASI-certified materials (43% of scrap, 44,800 tonnes of certified aluminium) › Collaboration with suppliers on emission reduction initiatives › Implementation of responsible procurement management › Regular supplier assessments including ESG criteria › Support for suppliers in developing emission reduction strategies

Research and Development: › Investment in clean technology research › Collaboration with universities and research institutions › Development of innovative production processes › Patent applications for low-carbon technologies › Participation in industry research consortiums

Risk Management and Adaptation: › Integration of climate risks into enterprise risk management system › Regular climate risk assessments for all sites › Development of adaptation measures for physical climate risks › Business continuity planning for extreme weather events › Insurance strategies for climate-related risks

Resources Allocated: › Dedicated sustainability team and climate experts › Annual budget allocation for climate-related investments › Management time and attention focused on climate issues › Training and capacity building for employees › External advisory services and technical expertise

Monitoring and Reporting: › Regular monitoring of GHG emissions across all scopes › Annual sustainability reporting including climate metrics › Third-party verification of key climate indicators › Integration of climate KPIs into management incentive systems › Participation in climate-related disclosure initiatives and ratings

The BMW Group has implemented comprehensive actions and allocated significant resources to support its climate change policies across the entire value chain.

Energy and Production Actions

Renewable Energy Expansion

Power Purchase Agreements (PPAs): The BMW Group is expanding the use of cost-effective CO2e-free energy, including through PPAs, contributing to progressive decarbonisation.

Production Transformation: Entire plants in the production network are being transformed and geared towards electromobility while production continues, demonstrating the "Just Transition" approach that combines transformation with modern, safe, and reliable workplaces.

Efficiency Improvements

EfficientDynamics Technologies: The BMW Group has been reducing fuel consumption for many years using innovative EfficientDynamics technologies, which bring together:

• Highly efficient drivetrains
• Intelligent lightweight construction
• Optimised vehicle energy management systems

Historical Achievement: Between 1995 and 2020, the BMW Group halved the CO₂ emissions of its new car fleet in Europe through unwavering commitment to EfficientDynamics technologies.

Product Development Actions

Electrification Strategy

NEUE KLASSE Development: The new model generation launching in 2025 was developed with strong emphasis on:

• Efficiency throughout the supply chain
• Sustainability integration
• Strategic approach to close material cycles and move toward circularity

Drivetrain Diversification:

• 2024 Achievement: All-electric vehicles accounted for 17.4% of total deliveries, making BMW Group one of the world's most successful suppliers of all-electric vehicles
• 2028 Target: Introduction of second all-electric and locally emission-free variant powered by hydrogen fuel cells

Advanced Fuel Implementation

Immediate Action - 2025 Pilot Project: Since early 2025, all diesel models produced in Germany are filled with non-fossil HVO100 as their first factory fill prior to delivery to retail partners. This pilot project demonstrates that HVO100 is a fully viable and practical diesel substitute.

Fleet Readiness: The BMW Group's vehicle fleet includes:

• Around 4.5 million diesel engines compatible with HVO100
• Over 13 million B-series petrol engines approved for E25 fuel

Supply Chain Actions

Supplier Requirements

Renewable Energy Criteria: The BMW Group uses electricity from renewable sources as a criterion when awarding contracts to suppliers (Scope 3 Purchased Goods and Services).

Secondary Materials: Continuously increasing secondary raw material quota to reduce supply chain emissions (Scope 3 Purchased Goods and Services).

Due Diligence Enhancement: In 2024, responsibility for developing procedures and implementing due diligence processes in the supply chain was firmly embedded in purchasing strategy and strengthened by establishing a dedicated department.

Circular Economy Actions

Material Cycle Closure

4R Principles Implementation: Guided by Re:think, Re:duce, Re:use, Re:cycle principles, working closely with partners in the circular economy to:

• Close material loops within the automotive industry
• Integrate circularity into processes
• Reduce consumption of resources and drive development of closed material cycles

Recycling Operations: Thousands of vehicles are dismantled and recycled using efficient methods every year at the BMW Group's recycling and dismantling centre.

Resource Management Actions

Water Efficiency

Monitoring and Reduction: The BMW Group monitors fresh water and energy consumption levels consistently to minimise usage.

Treatment Systems: Expanding water treatment systems to:

• Minimise fresh water usage
• Maximise efficiency
• Alternative water sources utilisation (e.g., rainwater)

Waste and Resource Optimisation

Measures developed specifically for Company facilities include:

• Water consumption reduction
• Alternative water source usage
• Resource efficiency improvements

Research and Innovation Actions

Scientific Collaboration

International Sustainable Mobility Research Platform (ISMO): Established in 2024, this international research partnership includes:

• BMW Group
• University of Cambridge (UK)
• Friedrich-Alexander-Universität Erlangen-Nürnberg (Germany)
• Harvard University (USA)
• Tsinghua University (China)

Objective: Conduct research into sustainability and develop scientifically sound approaches to help develop strategy, with Board of Management involvement in discussing research results twice yearly from 2025.

Technology Development

Efficiency Innovation: The BMW Group's entry into electromobility began over 15 years ago with development of the all-electric BMW i3, with extensive experience continuing to shape manufacturing processes for all-electric models.

Organisational Actions

Governance Structure

Sustainability Function: The Sustainability and Mobility function:

• Ensures high-level management of sustainability topics as part of Group strategy
• Identifies areas needing action
• Defines targets to be achieved
• Prepares Board of Management resolutions

Reporting and Monitoring: Progress reports on overarching sustainability targets submitted to Board of Management at least three times per year, covering:

• CO2e emissions reduction targets across all scopes
• Circular economy progress
• Environmental and social standards
• Strategic and operational implementation status

Employee Development

Just Transition: The BMW Group combines transformation with modern workplaces, investing continuously in building workforce expertise through:

• Continuous training programmes
• Job security guarantees
• Skills development for future technologies

Recognition: Highly regarded employer ratings consistently rank the BMW Group as one of the world's most attractive employers.

Financial Resources

While specific financial allocations for climate actions are not detailed in the available text, the BMW Group demonstrates significant resource commitment through:

• Major production facility transformations
• Research and development investments
• Global supply chain transformation
• International research partnerships
• Continuous workforce development programmes

These actions represent a comprehensive, science-based approach to climate change mitigation and adaptation across the BMW Group's entire value chain, with measurable progress toward the 2030 target of reducing carbon emissions by at least 40 million tonnes compared to 2019.

Actions and resources in relation to climate change policies

Crayon has taken several concrete actions related to climate change mitigation:

Environmental Management System

We maintain an ISO 14001 Global certification for our environmental management system, which provides the framework for systematic environmental management including climate-related actions.

Greenhouse Gas Emissions Monitoring

We track and report our greenhouse gas emissions across all scopes:

• Total Scope 1, 2 and 3 market-based emissions: 24,721 tons of CO2 in 2024
• We participate in CDP climate change questionnaire annually, achieving a B- score in 2024

Circular Economy and E-Waste Actions

Under our sustainable device management program:

• 293 devices were recycled or resold in 2024
• This supports our circular economy focus area under the environmental pillar

Strategic Priority Investment

As greenhouse gas emissions and climate-related risk is one of our top three strategic priorities for 2025, we will be allocating additional resources and focus to this area as part of our five-year ESG strategy implementation (2025-2030).

Service Offerings

Through our cloud services business, we help customers optimize their IT infrastructure which can contribute to reduced carbon footprint:

• Cloud services and solutions that minimize carbon footprint is a specific focus area
• We offer FinOps services through our new Crayon Cloud Cost Control platform to help manage software and cloud spend efficiently

Reporting and Transparency

We provide annual disclosure of our climate-related performance through:

• CDP climate change questionnaire participation
• ESG reporting as part of our integrated annual report
• Participation in United Nations Global Compact since 2020

Actions and resources in relation to climate change policies

Climate stress testing of the investment portfolio

In the short and long term, climate change could expose the investment portfolio to a number of risks, which Danica's business and risk management system must gradually adapt to in order to mitigate climate change. The impact of climate change will vary in nature and strength, depending on the geographical region, and will affect global socio-economic and financial development, which will influence the investment portfolio. This will be reflected in economic growth, world trade, employment, inflation, interest rates and equity prices.

In January 2024, Danica performed a climate stress test of equities and credit bonds in the investment portfolio on the basis of scenario values from the end of 2022. The climate stress test indicated that assets in the Danica Balance pension product were to some extent exposed to climate risk. It is estimated that investments in companies with high CO2e emissions in particular could be financially affected in the future. Quantifying the risk is difficult, however, among other things due to poor data quality. The climate stress test also suggested a number of value reductions on commercial and residential real estate. There is a risk that carbon-intensive companies covered by Danica's sector reduction targets will not transition fast enough and that parts of the targets will therefore not be met.

Climate scenarios from the Central Banks and Supervisors' Network for Greening the Financial System (NGFS) have been used to identify the potential financial impact on parts of the investment portfolio based on specific temperature scenarios. It must be determined whether the NGFS is to be used in the future, or whether other models are necessary or more relevant to reporting on Danica's climate risks and temperature scenarios.

Investment process

ESG and climate aspects are included in the investment process from a double materiality perspective. This supports Danica in: • managing and mitigating physical risks and transition risks related to climate aspects that could have a negative impact on the return potential of the investments • reallocating investments on an ongoing basis to companies and other assets that support the green transition and have a positive return potential • reducing the negative impact of the investment portfolio on societal sustainability and climate change

Aspects such as renewable energy production, decarbonisation, climate governance and compliance with the EU Taxonomy are taken into account in the investment process. Any material negative impacts of the investment portfolio on societal sustainability and climate change are also taken into account by using Principal Adverse Indicators (PAI).

Active ownership

Danica exercises active ownership with the aim of influencing and supporting portfolio companies to continuously improve their climate plans and address business-relevant climate risks and opportunities, including PAI. It does so through direct engagement, voting at general meetings and participation in various climate-focused investor associations.

In 2024, climate aspects such as energy transition, CO2e emissions and climate neutrality were once again among the topics most often discussed with portfolio companies. In 2024, Danica continued the approach of supporting climate proposals at general meetings that are ambitious and practicable and that promote value creation for the company and the wider society.

Investment restrictions

Danica applies investment restrictions that contribute to: • minimising the climate-related risks of the investment portfolio and thereby optimising the portfolio's risk-adjusted return potential • minimising the investment portfolio's CO2e emissions and thus material negative impacts on PAI and societal sustainability

Excluding companies from the investment portfolio if it is assessed that there is no opportunity to use active ownership to influence their climate strategies if they do not show sufficient progress over time or if they are assessed not to manage climate-related risks and opportunities satisfactorily.

Danica currently has the following climate-related restrictions in place for equities and corporate bonds: • Companies are excluded if 5% or more of their revenue stems from certain thermal coal, peat or tar sand activities. Existing investments related to coal, peat and tar sand will be phased out by 2030 within the EU and the OECD and by 2040 for the rest of the world in line with the Paris Agreement phase-out plan.

• Companies may be exempted from the thermal coal exclusion if they have a credible plan to phase out thermal coal in alignment with the Paris Agreement. Such plans are assessed using the recognised Transition Pathway Initiative climate assessment tool • Companies are excluded if they are assessed to be involved in activities, services or products that have a material negative climate impact. This may also include companies that are deemed to have insufficient climate actions, policies and processes. Such exclusions are made on the basis of qualitative and quantitative data as well as qualitative judgements.

Additionally, Danica will start implementing the following restriction criteria for the fossil industry in 2025: • Companies focused on fossil fuels are excluded if they are deemed not to have credible plans in place to support the transition to more sustainable society. This applies to companies that derive 5% or more of their revenue from certain fossil fuel activities such as coal, oil, gas or tar sand. The companies' transition plans are assessed using a proprietary model developed in collaboration with Danske Bank Asset Management, which is primarily based on TPI methods and data.

At 31 December 2024, Danica had excluded 531 companies on the basis of the above climate restrictions.

Pension solution with a special sustainability focus

In 2020, Danica launched the investment solution Danica Balance Responsible Choice, which has a special focus on promoting sustainability aspects in investments. The investment solution consists of a minimum of 75% sustainable investments (pursuant to Article 2.17 of the EU Disclosure Regulation and its definition of sustainable investments) that aim in various ways to contribute to one or more of the UN Sustainable Development Goals, including the green transition.

For example, Danica invests in Paris-aligned and Climate Transition benchmarks, which have 50% and 30% lower carbon intensities, respectively, than the market in general and for which the intensity is to be reduced by 7% annually in alignment with the Paris Agreement phase-out plan. At 31 December 2024, the solution had total assets under management (AuM) of DKK 6.4 billion.

Actions and Resources for Climate Change Policies:

Danone has implemented specific actions and allocated substantial resources to execute its climate change mitigation and adaptation strategies.

Mitigation Actions:

1. Renewable Energy Implementation:

• Target: 50% renewable energy by 2030
• Installation of renewable energy systems at production facilities
• Power purchase agreements for renewable electricity
• Energy efficiency improvements across operations

2. Regenerative Agriculture Program:

• Moré Holstein farm in Spain became first B Corp™ certified farm in Europe (2024)
• Farmer training and support for climate-smart practices
• Soil health improvement initiatives
• Carbon sequestration projects in agricultural operations

3. Packaging Transformation:

• 11% reduction in plastic packaging (2018-2024)
• 21% reduction in virgin fossil-based plastic (2018-2024)
• Development of alternative packaging materials
• Investment in recycling infrastructure and partnerships

4. Innovation and Technology:

• Biotech Open Platform creation with Michelin, DMC Biotechnologies, Crédit Agricole (June 2024)
• Advanced fermentation and precision fermentation development
• Microsoft AI Academy collaboration for operational optimization (July 2024)
• Research & Innovation investments in low-carbon solutions

Adaptation Actions:

1. Supply Chain Resilience:

• Diversification of sourcing to reduce single-source dependencies
• Geographic sourcing diversification
• Raw materials security programs
• Alternative supply chain development

2. Water Management:

• Integrated water resources management in watersheds
• Water usage reduction across operations
• Watershed protection programs implementation
• Water efficiency technologies deployment

3. Agricultural Support:

• Climate-resilient farming practice promotion
• Farmer support programs for adaptation
• Crop diversification initiatives
• Local agricultural system strengthening

Resource Allocation:

1. Financial Investment:

• Significant capital allocation for renewable energy projects
• Research & Innovation budget focusing on climate solutions
• Partnership investments in climate technologies
• Infrastructure upgrades for climate resilience

2. Human Resources:

• Dedicated sustainability teams across regions
• Company Strategy Department coordination
• Specialized expertise in climate science and technology
• Training programs for employees on climate action

3. Partnership Investments:

• Biotech Open Platform partnership investment
• Microsoft AI collaboration for optimization
• Ellen MacArthur Foundation strategic partnership
• Industry collaboration on climate solutions

4. Technology Development:

• Precision fermentation technology advancement
• Alternative protein development
• Packaging innovation for circularity
• Digital technologies for operational efficiency

Organizational Resources:

1. Governance Structure:

• Board oversight of climate strategy
• Executive Committee accountability
• Country-level implementation teams
• Cross-functional climate working groups

2. Monitoring and Reporting:

• Climate performance tracking systems
• Regular progress assessment
• External assurance and verification
• Stakeholder reporting and transparency

3. Capability Building:

• Employee training on climate action
• Technical expertise development
• Innovation capability enhancement
• Partnership management skills

Implementation Timeline:

• 2024: SSP launch, B Corp™ farm certification, technology partnerships
• 2030: 50% renewable energy, 30% virgin plastic reduction
• 2040: 50% virgin fossil-based packaging reduction
• Ongoing: Continuous improvement and adaptation

Performance Monitoring:

• Regular tracking of emission reduction progress
• Energy transition monitoring
• Agricultural program effectiveness assessment
• Supply chain resilience evaluation
• Financial performance integration

Actions and Resources Related to Climate Change Policies

Climate Action Implementation

GN has implemented comprehensive actions and allocated significant resources to support its climate change mitigation and adaptation policies:

Carbon Reduction Actions

Achieved Emissions Reductions:

• 58% reduction in scope 1 and 2 carbon emissions vs 2021 baseline
• 26% reduction in scope 3 carbon emissions vs 2021 baseline
• Progress toward 2030 climate goals and net-zero emissions by 2050

Operational Decarbonization:

• Implementation of energy efficiency measures across operations
• Transition to renewable energy sources where feasible
• Optimization of manufacturing processes to reduce energy consumption

Supply Chain Climate Actions

Manufacturing Diversification:

• Reduced dependency on manufacturing in China as part of climate resilience strategy
• Capability to serve almost entire U.S. market from manufacturing outside China
• Diversification strategy ongoing to enable flexible response to climate-related disruptions

Supply Chain Resilience:

• Enhanced inbound logistics visibility to proactively manage climate-related disruptions
• Onboarding new vendors that can produce outside of traditionally climate-vulnerable regions
• Regional manufacturing options investigation to reduce climate exposure
• Risk diversification strategy focused on climate resilience

Sustainable Design Actions

Product Development:

• Integration of sustainability considerations into product design processes
• Focus on developing products that minimize environmental impact
• Support for circular economy transition through design decisions
• Compliance with growing product-related sustainability legislation

R&D Investment:

• DKK 1.9 billion invested in R&D in 2024
• Portion of R&D focused on sustainable technology development
• Innovation in products and services supporting climate goals

Resource Allocation

Financial Resources:

• Significant capital allocated to supply chain diversification and resilience
• Investment in sustainable manufacturing technologies
• Resources dedicated to achieving sustainability certifications

Human Resources:

• Dedicated teams working on sustainability integration across business processes
• Training and development programs on climate-related topics
• Executive Leadership Team involvement in climate-related decisions

Technology Resources:

• Enhanced systems for improved stability and capacity during climate disruptions
• IT infrastructure modernization to support sustainable operations
• Advanced monitoring systems for tracking climate performance

Partnership and Collaboration Actions

Technology Partnerships:

• Collaboration with technology partners on sustainable solutions
• Integration with partners' sustainability initiatives
• Joint development of climate-friendly technologies

Supply Chain Collaboration:

• Working with tier 1 manufacturers and more than 100 sub-suppliers on climate initiatives
• Long-term strategic partnerships with focus on sustainability
• Proactive communication and problem-solving for climate-related supply chain issues

Operational Climate Actions

Facility Management:

• Balancing operations between different facilities to optimize climate performance
• Energy efficiency improvements across global facilities
• Transition to sustainable facility management practices

Transportation and Logistics:

• Optimization of distribution networks from four regional centers in Mexico, Poland, China, and Hong Kong
• Reduction of transportation-related emissions through efficient logistics
• Partners responsible for final packaging to optimize lead-time and reduce emissions

Monitoring and Reporting Actions

Performance Tracking:

• Regular monitoring of emissions reduction progress
• ESG ratings tracking: AA rating from MSCI, 10.6 (low risk) from Sustainalytics, B rating from CDP Climate Change
• Annual reporting on climate performance in accordance with CSRD requirements

Continuous Improvement:

• Annual review and update of climate action plans
• Integration of climate performance into business decision-making
• Benchmarking against industry best practices and scientific recommendations

These comprehensive actions and resource allocations demonstrate GN's commitment to implementing its climate policies effectively and achieving its ambitious climate targets while building operational resilience against climate-related risks.

Actions and resources related to climate change

Hilti's climate change mitigation efforts are structured around key levers to reduce Scope 1, 2 and 3 emissions across the organization, with specific actions and resource allocation to achieve science-based targets.

Resources to achieve targets

Achieving the ambitious GHG reduction targets requires a dedicated allocation of resources, including significant investment in research, innovation and infrastructure to support the transition to low-carbon solutions. This involves allocating substantial operational expenditures and capital to enable systemic changes across Hilti's value chain, from sourcing and production to transportation and operations. Additionally, financial commitments to energy-efficient technologies and sustainable practices, alongside enhanced funding for the development of new, environmentally responsible products and infrastructure, are essential to drive meaningful progress toward reducing Hilti's carbon footprint.

GHG Emissions Reduction Pathway

The following visual representation outlines Hilti's pathway to achieving its climate targets, starting from the 2022 baseline of GHG emissions covered by the SBTi near-term target and progressing through 2030. It captures both the anticipated impact of activity growth on emissions and the reductions enabled by key GHG reduction activities within Hilti's climate strategy.

Key actions include:

• Transitioning Hilti's vehicle fleet to low-emission alternatives
• Reducing the carbon footprint of products through innovations in product design and using fewer or recycled input materials
• Scaling circularity initiatives like reusing spare parts to reduce the need for new materials
• Decarbonizing the supply chain by working with low-emission suppliers and cutting emissions in energy-intensive industries
• Emission reductions in the product use phase stem from further electrifying Hilti's product portfolio and relying on a cleaner electricity grid
• Optimizing logistics with low-emission transportation

These initiatives collectively enable significant progress toward Hilti's near-term SBTi-aligned target for 2032 and the ultimate goal of achieving net-zero emissions by 2050.

Hilti identified its decarbonization levers and actions independently of the use of climate scenarios.

Climate change adaptation

KONE aims to adapt to the physical impacts of climate change by harmonizing the engineering, delivery and manufacturing structures of its existing and new products. This helps KONE to maintain and improve its resilience when the delivery chain or logistics routes may be disrupted and material or component suppliers, KONE factories, distribution centers or logistics routes for shipments need to be quickly replaced with feasible alternatives. In 2024, KONE conducted the first phase release of product harmonization which will be followed with selected component harmonization implementations in Europe and Americas in 2025.

In 2024, KONE conducted simulated crisis and business continuity management exercises at some of its manufacturing facilities to ensure business continuity and to reduce the impact and likelihood of disruptions within its full delivery chain. While KONE's 10 manufacturing facilities in seven countries, multiple distribution centers and a large supplier network across the globe help to mitigate the impacts from potential disruptions in individual locations or countries, KONE aims to secure the availability of supply by implementing alternative sourcing channels, long-term agreements, and last-buy options for critical components and services. KONE also has a global property damage and business interruption insurance program in place.

In terms of downstream adaptation, KONE continuously develops services, which help its customers with weather event loss prevention, stand-by maintenance during events and post-event status check and repairs.

Climate change mitigation and energy

During the reporting year 2024, KONE has successfully implemented emission reduction activities by investing into the energy efficiency of KONE's solutions, increasing, and expanding the low carbon offering and engaging with suppliers to improve material efficiency in its solutions. The emissions reduction activities will be continued in 2025 and beyond to ensure KONE meets its 2030 targets. All of KONE's emissions reduction activities in 2024 are aligned with its climate change scenario analysis work to ensure long-term success in line with the 1.5°C pathway of the Paris Agreement.

KONE's constant focus is on actual emission reductions both in its own operations and in products and value chain. However, to reach carbon neutral operations by 2030, KONE is planning to compensate the remaining emissions.

Scope 1 and 2 emissions

KONE focuses on decreasing Scope 1 emissions by primarily transitioning to zero and low emission vehicle fleet or no fleet. KONE's vehicle fleet accounts for approximately 95% (2023: 92%) of its Scope 1 and 2 GHG emissions. The total carbon footprint of KONE's vehicle fleet decreased by 2% compared to 2023 and decreased by 4% compared to its 2018 emissions (109,000 tCO2e).

During 2024, KONE developed a comprehensive plan to reduce vehicle emissions in collaboration with its partners by for example identifying the technicians who could utilize electrical vehicles (EVs), incorporating EVs in subsidiaries local car policies, encouraging KONE employees to select low-emission vehicles and providing EV charging points. Accelerating the transition to electric vehicles is imperative to achieve KONE's 2030 reduction targets.

Renewable energy and energy efficiency

KONE's ten global manufacturing units have reduced their net Scope 1 and 2 emissions by 83% (2023: 81%) at the end of 2024 compared to the 2018 baseline. In 2024, solar panels were used in six out of ten manufacturing units and green district heating in one manufacturing unit. All units have been purchasing 100% renewable electricity since the beginning of 2023. In 2024, KONE also increased the use of biofuels in its facilities in North America and continued to optimize energy usage in heating, ventilation, air conditioning and lighting systems in KONE's manufacturing units. KONE has also invested in manufacturing line robotics and automation to further improve both the material and energy efficiency of its manufacturing process.

In addition, KONE has taken significant actions to reduce market-based Scope 2 emissions by systematically improving energy efficiency and increasing the use of renewable electricity across its facilities. KONE's total energy consumption remained stable in 2024 compared to 2023 and increased by 6% compared to 2018.

Product and value chain (Scope 3) emissions: energy and material efficiency

In 2024, KONE's Scope 3 (product and value chain) emissions per product ordered (62.2 tCO2e/order) decreased by 8.7% compared to 2023 (68.2 tCO2e/order) and by 12.8% compared to 2018 (71.4 tCO2e/order). KONE's absolute product and value chain emissions decreased by 8.8% compared to 2023 and 9.8% compared to 2018. KONE's Scope 3 GHG absolute emissions from its products' annual energy consumption decreased by 9.8% compared to 2023 (364,000 tCO2e) and by 15.3% compared to 2018 (387,600 tCO2e).

During 2024 and onward, one of the major contributing emissions reduction factors is further improved energy efficiency of KONE's products. This was achieved, for instance, through an increased share of energy-efficient electrification systems and regenerative drives in ordered elevators and systematically engaging with suppliers to increase the material efficiency of KONE's solutions. KONE also collaborates with its suppliers to increase the recycled content in the materials used for KONE's products. KONE actively looks for new partners and ways of working to find alternative materials with lower embodied carbon emissions and to develop processes to reuse and recycle materials more effectively.

In 2024, KONE launched KONE Energy Management feature which optimizes energy consumption of elevator groups over passenger waiting time and time to destination in off-peak hours while minimizing the waiting time and time to destination during peak hours. This results in annual energy savings in elevator groups due to optimized energy use during low-traffic periods. Additionally, KONE Service Business introduced KONE Remote Services which enables resolving issues remotely. This lowers the need for service site visits and KONE technicians driving between the sites, resulting in GHG emission reductions.

KONE's offering also holds the widest range of externally assured product information in the industry, such as Environmental Product Declarations (EPD) in compliance with the EN 15804 standard, and energy efficiency documentation according to ISO 25745. In 2024, KONE published six (2023: four) EPDs and had in total 27 (2023: 21) third-party verified EPDs. Through Health Product Declarations (HPDs), KONE also provides information about the material content and associated health effects of its products, responding to a growing need for healthier living environments. By 2024, KONE holds a total of six HPDs.

KONE was the first in the industry to launch a carbon neutral service offering, the KONE Care DX, in 2021. By 2024, KONE has introduced a carbon-neutral elevator and escalator and continued to expand its carbon neutral offering to further markets. In the future, KONE aims to increase the number of elevators with regenerative drive-in line with the company's ambitious emission reduction targets, thus also increasing the Taxonomy-aligned share of revenue.

Product and value chain (Scope 3) emissions: supplier engagement, innovations and partnerships

In 2024, KONE identified its suppliers accounting for the majority of KONE's Scope 3 emissions from purchased goods, and actively collaborates with them to reduce these emissions. This collaboration entails actions such as continuous dialogue with suppliers, emissions reporting development, emission reduction targets setting and supplier trainings. From 2025 onwards, KONE will start to measure the commitment of its suppliers in reducing their CO2 emissions.

Requirements for smart and sustainable materials, solutions and buildings are increasing, presenting KONE with sustainable growth opportunities. To understand the emerging needs and technologies in sustainable, resilient urban environments and people's behavior in them, KONE actively participates in large-scale research projects and consortiums, such as Veturi, which is a four-year innovation program, co-funded with Business Finland. In this program, KONE collaborates with customers and partners to tackle climate change and urbanization challenges to create smart and sustainable cities.

Internally, KONE promotes environmental and climate actions, for example, during dedicated theme days. During 2024, KONE continued to grow awareness and ownership of its environmental targets and progress. The company organized for example sustainability and climate-related information sharing and training sessions for various employee groups. KONE also responds to customers' increasing demand for sustainable products and services.

Actions and resources

Climate adaptation actions focused on buildings

Based on the results of the physical climate transition risk assessment, Krones has taken action to adapt to climate change. These include the air conditioning of office space to cope with rising temperatures and the construction of a new building in India with improved ventilation. In addition, new buildings worldwide are constructed in accordance with LEED Gold or a comparable local standard.

Scope 1 actions

Use of heat pumps, solar thermal energy and local heat networks for renewable heat energy

At the Neutraubling site, Krones is investing in energy-efficient heating systems such as heat pumps in order to reduce the energy consumption of and direct emissions from heating systems. This is expected to reduce annual GHG emissions by around 7,000 tonnes of CO2e. A consulting project is to be launched in 2025 with the aim of evaluating and optimising on-site heat energy infrastructure.

Electrification of the vehicle fleet

Electrification of the worldwide vehicle fleet serves to reduce the direct emissions from the use of company vehicles. This changeover is not expected to result in any significant cost changes. The global electrification of the fleet that is already underway will be accelerated from 2025 under a group-wide car policy.

Scope 2 actions

Procurement of renewable energy

We buy 100% green power with guarantees of origin for the Krones AG production sites in Germany. This is a significant lever for reducing our Scope 2 GHG emissions. At our major international sites, too, we are transitioning to buying only green power. The short-term switch to green power is a key step enabling us to significantly reduce our Scope 2 emissions.

Expanding photovoltaic capacity for own electricity generation

Sustainable energy supplies and the expansion of our own renewable power and heat generation capacities – combined with intelligent energy management – are at the heart of our efforts to reduce energy-related GHG emissions. Installing photovoltaic systems to provide self-generated electricity increases independence from externally sourced electricity and reduces Scope 2 emissions. We have made generating our own electricity from renewable sources a priority in our company climate strategy and have related projects in progress worldwide. At our most energy-intensive sites, photovoltaic projects are in progress or have already been completed.

ISO 50001 and awareness-raising

Energy management at the German production sites of Krones AG is ISO 50001 certified. As part of the existing audit and certification processes under ISO 50001, we conduct regular employee training on energy and environment topics. Another way we raise awareness among our workforce is through regular internal reporting on the progress of our climate strategy via the various internal communication platforms.

Scope 3 actions

Upstream value chain

Material intensity optimisation through ecodesign

By developing machinery that uses less material, Krones helps reduce the emissions related to the machinery's manufacture. The enviro sustainability programme plays an active role in the product development process, purposefully integrating ecological design aspects from the Eco-Design framework. To ensure that development work is guided by the principles of environmental sustainability, ongoing development projects are evaluated on the basis of a checklist and managed by way of milestones that incorporate enviro requirements into the product development process.

Emission reduction programme with suppliers

By collaborating with suppliers to reduce the carbon footprint of purchased products, Krones is helping to reduce emissions in the upstream supply chain. To present one face to the supplier, the Procurement category team serves as the supplier's primary point of contact. In order to obtain a clear picture of emissions in our supply chain, we analyse and quantify our suppliers' emissions. To improve our understanding in this regard, we require our suppliers to provide primary emission data in the form of cradle-to-gate product carbon footprints. This not only improves comparability, but also increases transparency on our environmental impact. Moreover, we expect selected suppliers that have a significant impact on our upstream Scope 3 emissions to set ambitious climate targets. These are required to be validated as science-based targets by the SBTi.

Downstream value chain

Sustainability programme for products – enviro

By optimising the energy efficiency of existing machines, Krones is reducing energy consumption and the associated emissions. For many years now, our enviro sustainability programme for machines and lines has been a key component of our product sustainability. It was developed in collaboration with TÜV SÜD and focuses on the energy and media consumption as well as the eco-friendliness of Krones machines, lines and solutions. The associated processes are established within the enviro management system. Underlying it all is the enviro manual, which defines the principles of the management system, presents the assessment criteria and thus acts as a company-wide guide for energy and media-efficient product design and optimisation. Krones carries out Life Cycle Assessments (LCA) for its machines to determine their carbon footprint, primarily quantifying GHG emissions on the basis of ISO 14067:2018. To demonstrate the benefits of our technologies, we use a special tool to calculate the GHG savings. Based on the results, we can show that machinery in the enviro product portfolio achieves significant GHG savings in use compared to standard models.

Development of sustainable product solutions

Developing and selling products that are more energy-efficient than previous products and technologies helps reduce emissions at end-customers. The sustainability of a product starts in the design and development stages. Strategic portfolio planning and the continued development of new and existing Krones products and solutions is handled by Research and Development and the respective product lines. Environmental compatibility, with a special focus on GHG emissions, is one of the key value drivers under which development projects are initiated and prioritised.

Promotion of electrification in thermal processes

Where possible, Krones promotes the conversion of thermal processes to renewable heat energy systems such as the use of heat pumps. Electrifying thermal processes in our machinery has the potential to reduce GHG emissions by up to 1.9 million tonnes per year when using green electricity.

Other

Krones has not currently implemented any nature-based solutions as part of its climate change mitigation activities. In accordance with the SBTi, we intend to reduce a portion of our GHG emissions by using carbon dioxide removal technologies from 2035 at the earliest. We are also developing a proposal for implementation of an internal carbon pricing system as a decision aid and to incentivise climate action and targets.

Actions and resources in relation to climate change policies

Climate Action Implementation

Lundbeck has implemented comprehensive action plans and allocated significant resources to deliver on our climate commitments and policies. Our approach combines operational improvements, strategic investments, and stakeholder engagement.

Operational Actions

Energy Efficiency Initiatives:

Manufacturing optimization:

• Comprehensive energy management systems implemented across all production sites
• LED lighting upgrades completed at major facilities, reducing energy consumption by 15-20%
• Smart building management systems installed to optimize heating, ventilation, and cooling
• Process optimization projects reducing energy intensity of pharmaceutical manufacturing
• Heat recovery systems capturing waste heat for reuse in production processes

Chemical recovery and recycling:

• Major investment: Construction of new chemical recovery unit at our production site (started in 2024)
• Expected completion by late 2025, significantly increasing solvent recovery rates
• Current chemical recycling rate: 62% of selected organic solvents (up from 59% in 2023)
• Target to further increase recovery rates upon completion of new facility
• Reduced waste generation and lower need for virgin chemical inputs

Renewable Energy Transition:

• Systematic transition to renewable electricity across European operations
• Power Purchase Agreements (PPAs) secured for renewable energy supply
• Green electricity procurement strategies implemented in key markets
• On-site renewable energy feasibility assessments conducted
• Renewable energy share increased significantly in 2024

Supply Chain Actions

Supplier Engagement Program:

• Climate supplier assessments: Regular evaluation of supplier climate commitments and performance
• Capability building: Workshops and training programs for suppliers on emission reduction
• Target setting collaboration: Working with key suppliers to establish science-based targets
• Best practice sharing: Regular forums for sharing emission reduction innovations
• Performance integration: Climate performance increasingly weighted in supplier evaluation

Sustainable Sourcing:

• Preference criteria established for suppliers with strong climate commitments
• Alternative sourcing strategies developed to reduce transportation emissions
• Packaging optimization initiatives reducing material usage and weight
• Circular economy principles integrated into procurement processes
• Local sourcing strategies where feasible to reduce transportation impacts

Operational Improvements

Transportation and Logistics:

• Business travel reduction: 30% reduction in business travel compared to pre-pandemic levels
• Enhanced digital collaboration tools reducing need for in-person meetings
• Travel policy updates prioritizing train over air travel for shorter distances
• Carbon-efficient travel booking systems implemented
• Hybrid and remote working policies supporting reduced commuting

Facility Management:

• Building upgrades focusing on energy efficiency and HVAC optimization
• Waste reduction and recycling programs expanded across all locations
• Water efficiency improvements reducing overall resource consumption
• Green office initiatives engaging employees in climate action
• Sustainable commuting programs including electric vehicle charging stations

Resource Allocation

Financial Investment:

Capital expenditure:

• Major investment in new chemical recovery unit (multi-million DKK investment)
• Energy efficiency upgrades across manufacturing facilities
• Renewable energy infrastructure and power purchase agreements
• Digital infrastructure for carbon monitoring and management
• Research and development for sustainable manufacturing processes

Operational resources:

• Dedicated sustainability team: Full-time professionals managing climate initiatives
• Cross-functional working groups: Employees from all business units engaged in climate action
• Management time: Senior leadership committed time allocation for climate strategy
• Training and development: Employee programs building climate awareness and capabilities

Technology and Innovation:

• Investment in breakthrough technologies for emission reduction
• Collaboration with technology partners on sustainable pharmaceutical manufacturing
• Digital solutions for carbon management and optimization
• Research initiatives exploring sustainable alternatives to current processes

Performance Management

Monitoring and Reporting:

• Monthly tracking: Key climate indicators monitored and reported to management
• Annual GHG inventory: Comprehensive emissions measurement across Scopes 1, 2, and 3
• Third-party verification: External assurance of emissions data and methodology
• Progress reporting: Regular updates on science-based target progress
• Dashboard systems: Real-time monitoring of energy consumption and emissions

Target Achievement:

Stakeholder Engagement

Employee Engagement:

• Climate awareness campaigns: Regular communications on climate progress and initiatives
• Green teams: Volunteer employee groups driving local climate action
• Innovation challenges: Employee-led initiatives for emission reduction ideas
• Performance integration: Climate considerations in job roles and evaluations

External Collaboration:

• Industry partnerships: Collaboration with pharmaceutical industry on climate solutions
• Academic partnerships: Research collaborations on sustainable manufacturing
• NGO partnerships: Working with environmental organizations on climate action
• Policy engagement: Advocacy for supportive climate policies and regulations

Adaptation Actions

Resilience Building:

• Supply chain resilience: Backup suppliers and alternative sourcing strategies
• Infrastructure upgrades: Improvements to enhance resilience to extreme weather
• Emergency preparedness: Updated business continuity plans for climate events
• Risk assessment: Regular evaluation of physical climate risks to operations

Innovation and Development

Sustainable Manufacturing:

• Research into green chemistry approaches reducing environmental impact
• Process innovation reducing energy and resource intensity
• Collaboration with equipment suppliers on efficient technologies
• Pilot projects testing sustainable alternatives to current processes

Product Lifecycle:

• Sustainable packaging initiatives reducing carbon footprint
• Distribution optimization minimizing transportation emissions
• End-of-life considerations in product development
• Patient education on sustainable medicine usage

Effectiveness Measurement

Key Performance Indicators:

• GHG emissions reduction: Absolute and intensity-based metrics
• Energy efficiency: Energy consumption per unit of production
• Renewable energy: Share of electricity from renewable sources
• Supplier engagement: Number of suppliers with climate targets
• Cost efficiency: Cost savings from efficiency improvements

Challenges and Learnings:

• Scope 3 emissions: Requires more intensive supplier collaboration and innovation
• Technology readiness: Some solutions still in development phase
• Supply chain complexity: Need for enhanced coordination across global operations
• Cost-benefit optimization: Balancing climate action with business sustainability

Future Action Plans

2025 Priorities:

• Complete construction and commissioning of chemical recovery unit
• Accelerate supplier engagement on Scope 3 emission reduction
• Expand renewable energy procurement to additional markets
• Implement circular economy initiatives across operations

Medium-term initiatives (2026-2030):

• Achieve significant progress toward science-based targets
• Develop carbon removal and offsetting strategies
• Scale breakthrough technologies for emission reduction
• Enhance climate adaptation and resilience measures

Our climate actions are continuously evolving based on performance results, technological developments, and stakeholder feedback. We remain committed to transparent reporting on our progress and challenges as we work toward our net-zero commitment.

MAPFRE's Sustainability Plan (2024-2026) includes actions such as specific training for professionals, collaboration with universities, dissemination of content, and creation of products that incorporate ESG criteria.

In 2021, MAPFRE implemented the ExpoCat tool for georeferencing and controlling catastrophic exposures, improving information management and decision-making.

We aim to achieve our carbon handprint target by growing our renewable and circular solutions capacity. Through our strategic investment project in Rotterdam, our total production capacity of renewable products will expand to 6.8 million tons annually in the coming years. Moreover, we diversify our raw materials portfolio, increasing the use of raw materials with lower GHG impact throughout product life cycle.

Naantali bio-steam boiler: In 2024, a new steam boiler was completed at the Neste Naantali terminal. The new energy facility produces steam for the Naantali terminal heating tanks with a bio-steam boiler using domestic wood chips and recycled wood as an energy source and an electric boiler using renewable energy. The supply of steam produced with renewable fuels and energy supports Neste's aim of reducing emissions in our own production.

In 2024, our R&D expenditure was EUR 86 million. In 2024, we increased our focus on supporting existing businesses and enhancing their competitiveness. We prioritized research investments, among others, to advance chemical recycling and develop innovative pretreatment technologies.

Actions and resources for climate change

Energy management

We have an active energy management system to optimize energy consumption based on site-specific requirements. We are implementing initiatives across our operations such as optimizing heating, ventilation and air conditioning, and upgrading to energy-efficient equipment and improved building insulation.

Renewable energy transition

We are transitioning to renewable electricity across our operations in partnership with Schneider Electric. We have achieved over 75% renewable electricity procurement globally.

Supply chain engagement

We engage with key suppliers on their carbon footprint that contribute significantly to our Scope 3 emissions. We have so far onboarded and engaged with suppliers covering more than two-thirds of Scope 3 emissions.

We have introduced an Environmental Sustainability Supplier Playbook, which has been shared with more than 1,000 suppliers and integrated into the Pharmaceutical Supply Chain Initiative's (PSCI) standard supplier learning plans.

Climate risk assessment

To further assess the resilience of our operations and supply chain to changes in physical climate events, we conduct annual climate-related scenario analyses. In 2024, we assessed all Novartis operating sites and warehouse inventories for vulnerability to 18 physical climate-related hazards across three time horizons.

Investment and resources

We continue to invest in low-carbon technologies, energy efficiency measures, and sustainable supply chain initiatives as part of our commitment to reach net-zero emissions by 2040.

Actions and Resources for Climate Change Policies

Investment in Low-Carbon Technologies

Strategic Investment Allocation: Planned investment of €16,000-19,000 million over 2024-2027, with above 35% focusing on low-carbon businesses to harness opportunities offered by the energy transition.

Technology Investment: More than €500 million dedicated to technology and digitalization over four years, with 58% of technology projects focused on low emissions.

Industrial Transformation Actions

Renewable Fuels Development:

• Cartagena Plant: Started up the first plant in the Iberian Peninsula capable of producing fuel 100% renewable on an industrial scale from organic waste
• Puertollano Conversion: Adapting existing diesel processing unit to become second renewable fuels plant by late 2025/early 2026
• Strategic Partnerships: Alliance with Bunge Ibérica to increase access to "broad portfolio of low-carbon feedstocks needed for the manufacture of renewable fuels"

Biomethane Platform: Agreement to acquire 40% stake in Genia Bioenergy to develop 19 biomethane plants (renewable gas flagged as strategic by the European Union).

Synthetic Fuels Initiative: Started work on 'demo' plant in Port of Bilbao capable of producing synthetic fuels from captured CO2 and renewable hydrogen.

Technology Development Actions

Research & Development: Repsol Technology Lab worked on more than 250 projects during 2024, with key achievements:

• Lipid hydrogenation pilot plant start-up with new features for industrial units
• "Madrid Vuela Sostenible" initiative for sustainable aviation fuel (SAF) development
• Pyroplast 2.0 project for co-processing alternative oils from tire pyrolysis
• New Circular Economy Laboratory for characterization of raw materials in new production processes

Carbon Capture Projects: Various projects undertaken in the United States and Indonesia for "capture, sequestration and storage of CO2, which will help Repsol achieve its objective of reducing emissions."

Renewable Energy Expansion

Generation Capacity Growth:

• Renewable generation capacity reached 3,659 MW by end of 2024
• 67% increase in renewable wind and solar power production
• Launched projects including Frye (Repsol's largest PV power plant) and Sigma (first project in Andalusia)

ConnectGen Acquisition: Completed integration of ConnectGen, adding 20 GW renewable project portfolio, mostly onshore wind at different development stages in the United States.

Multi-Energy Customer Solutions

Renewable Fuel Distribution:

• Launched 100% renewable Nexa Diesel at more than 800 service stations in Spain and Portugal
• Target to reach 1,500 stations by end of year
• Agreements with logistics group Sesé and airline group IAG for renewable diesel and SAF supply

Electric Mobility Infrastructure:

• Expanded public electric charging network to around 2,800 public charging points
• Agreement with Adif to install and operate 1,000 charging stations at 80 train stations over next two years

Digital Innovation Actions

AI and Digital Technologies:

• Generative AI Competence Center completed first year with nine lines of work and more than 60 use cases implemented
• 3,000 Copilot M365 licenses installed
• Digital solutions supporting sustainability across all business units

Circular Economy Actions

Waste-to-Energy Projects:

• Using organic waste such as used cooking oil to produce 100% renewable fuels
• Planned Tarragona Ecoplant with €800 million investment to transform urban waste into renewable methanol

Venture Investments:

• Investment in Ingelia S.L. (HTC technology for biomass valorization)
• Investment in Darwin Bioprospecting Excellence S.L. (microorganism solutions for microplastics biodegradation)

Resource Allocation by Business

Business-Specific Actions:

• Upstream: Portfolio optimization and CO2 storage projects
• Industrial: €1,274 million investment in transformation and renewable fuels capacity
• Customer: €409 million investment in multi-energy infrastructure
• LCG: €2,478 million investment (32% increase) in renewable energy development

Actions and Resources for Climate Change

Sustainable Infrastructure Investment: With a total investment of CHF 1.2 billion, our recently opened Roche Innovation Center Basel is a perfect example of our climate commitment. As one of the most modern research centres in the world, it focuses on interdisciplinary cooperation and shows how we are advancing our sustainability goals, including maximising energy efficiency and using recycled concrete, rooftop solar panels and smart concepts for water-saving.

Zero-Emissions Facility: In 2024, we commissioned a zero-emissions facility as part of our climate action initiatives.

Science Based Targets Initiative: We submitted ambitious net-zero targets to the Science Based Targets initiative in 2024, demonstrating our commitment to science-based climate action.

Value Chain Approach: Sustainable product innovations reduced waste and emissions across our operations. We are implementing actions across our value chain to cut emissions and minimise the impact of our products at every stage of their life cycle.

Risk Mitigation Investments: Significant investments are required to improve water efficiency in water-stressed areas (e.g. improving and monitoring of water treatment where water is a constrained resource, particularly in California, US). This leads to increased operational costs due to new infrastructure investments needed.

Targets and actions related to the Climate Change — Road to Net Zero

The main targets and progress against targets are presented in the following sections: 3.2.1.4.2. GHG emissions for targets related to GHG emission reductions and 3.2.1.2. Transition plan for climate change mitigation (E1-1) for targets related to decarbonization levers. Please refer to section 3.2.1.2. Transition plan for climate change mitigation (E1-1) for actions and resources related to the Climate Change – Road to Net Zero sub-program of the CSR policy.

Targets and actions for the Climate-related Financial Disclosures & Risks and Opportunities

We are working to identify targets to drive our adaptation policies and actions. We aim to define these targets by the end of the 2026 fiscal year. The internal targets are set by each working group in accordance with their adaptation plans and internal stakeholders, who monitor the actions, and are validated by the Climate Risks & Opportunities Committee (CROC).

The table below outlines the high-level actions corresponding to each of the identified climate-related risks and opportunities, as well as the resources currently assigned to these actions:

Actions and resources in relation to climate change policies

Siili's actions related to climate change are currently integrated into its business operations and strategy. As a software development company, Siili's primary environmental impact comes from its office operations and employee travel.

Current actions include:

• Operating primarily in office environments with lower environmental impact compared to manufacturing operations
• Focus on digital solutions that can help customers reduce their environmental burden
• Employee awareness and engagement through the double materiality analysis process
• Integration of sustainability considerations into strategic planning

Siili will develop more specific climate-related actions and resource allocation plans during 2025 as part of establishing formal sustainability targets. The company has committed to reducing Scope 1 & 2 emissions to zero and Scope 3 emissions by 20% compared to 2022 levels by 2030.

The resources for implementing climate actions will be determined as part of the sustainability program to be established in 2025, with responsibility assigned across the organization including the Board of Directors, Management Team, and operational units.

Actions and Resources for Climate Change Policies:

Emission Reduction Actions:

Operational Improvements:

• Systematic energy efficiency improvements across all operations
• Fuel switching from fossil fuels to renewable energy sources
• Implementation of new technologies to reduce direct emissions
• Optimization of production processes for lower carbon intensity

Investment Actions:

• EUR 1 billion investment at Oulu site converting paper machine to consumer board production (low-carbon packaging)
• Technology investments in clean production methods
• Infrastructure upgrades for energy efficiency
• Investment in renewable energy capacity

Product Development Actions:

• Development of hard carbon from lignin for sustainable battery materials
• Partnership with Altris for sodium-ion battery materials
• Collaboration with Södra for sustainable kraft lignin supply
• Innovation in bio-based binders and chemicals
• Development of wood foam replacing fossil-based alternatives

Forest Management Actions:

• Sustainable forest management across 2.06 million hectares globally
• Forest regeneration ensuring continued carbon sequestration
• Biodiversity enhancement programs
• Partnership with IUCN for science-based biodiversity framework

Supply Chain Actions:

• Engagement with over 20,000 suppliers on emission reductions
• Collaboration with customers to reduce Scope 3 emissions
• Sustainable sourcing practices
• Working capital optimization reducing resource intensity

Resources Allocated:

Financial Resources:

• Major capital investments in low-carbon technologies
• R&D spending on climate solutions and innovation
• Working capital reduction of EUR 700 million over 1.5 years
• Forest asset value of EUR 8.9 billion supporting carbon sequestration

Human Resources:

• Dedicated sustainability teams across divisions
• Training and capacity building on climate action
• Integration of climate considerations into all roles

2024 Performance:

• Achieved 53% reduction in Scope 1 & 2 emissions (exceeding 2030 target)
• 39% reduction in Scope 3 emissions from 2019 baseline
• Annual CO2 sequestration of 4.3 million tonnes in owned forests
• Net climate impact of -13.5 million tonnes CO2 through product substitution

Actions and resources in relation to climate change policies

Investments in climate action TKH has made significant investments to support climate change mitigation and our transition to sustainable operations:

Strategic investment program

• Completed €200 million strategic investment program, including significant expansion in offshore wind inter-array cable capacity
• Opening of new subsea cable factory in Eemshaven in September 2024
• State-of-the-art production facilities with unique dry-design cable technology
• Order intake of over €300 million for strategic electrification investments

Operational efficiency investments

• High-priority investments resulted in 70.3% reduction of CO2e footprint (scopes 1 and 2)
• Implementation of energy-saving programs across all facilities
• €15 million cost-saving measures implemented, including operational optimizations
• Consolidation of production to improve energy efficiency

R&D and innovation resources

• €80.7 million invested in R&D activities in 2024 (2023: €77.2 million)
• Over 750 people dedicated to R&D and software development
• Development of AI-powered solutions that improve energy efficiency
• 17.6% of turnover from innovations (target: at least 10%)

Sustainable technology development

• Focus on electrification solutions supporting renewable energy infrastructure
• Development of automation technologies that reduce energy consumption and waste
• Innovation in circular economy approaches and recyclable materials
• Integration of sustainability considerations in product design

Supply chain initiatives

• Investment in supplier sustainability programs
• 78.2% of copper suppliers assessed with 2024 risk management assessment
• Active engagement with strategic suppliers to improve their sustainability practices
• Certification programs for key raw material suppliers

Organizational resources

• Dedicated sustainability teams and expertise
• Integration of climate considerations into business decision-making
• Regular monitoring and reporting of climate-related performance
• External assurance on sustainability reporting to ensure accuracy and transparency

Actions and resources in relation to climate change policies

Investment in climate action

Financial resources:

• Net investments of $17.8 billion in 2024, with $4.8 billion dedicated to low-carbon energies (mainly power)
• Around $4 billion per year planned investment in electricity by 2030
• R&D budget of $805 million with 68% focused on new energies and environmental footprint reduction
• $1 billion energy efficiency improvement plan (2023-2025) with second $1 billion plan for 2026-2028

Investment allocation:

Operational actions

Energy efficiency initiatives:

• More than 170 energy efficiency projects completed by 2024
• 1.5 Mt CO2e/year emissions reduction achieved
• Energy savings of more than $100 million/year generated
• 74% of Exploration & Production assets optimized since 2021
• Nine gas turbines shut down on underutilized assets

Electrification and low-carbon electricity:

• Go Green initiative supplying 100% low-carbon electricity to European and US refineries from 2025
• 2.5 TWh/year low-carbon electricity for European Refining-Chemicals assets
• 1.5 TWh/year renewable electricity for US facilities from Texas portfolio
• Major electrification projects completed at Antwerp petrochemicals site and Normandy platform

Methane emission reduction:

Technology development and deployment

Renewable energy expansion:

Low-carbon molecules development:

• Biorefinery at La Mède operational since 2019
• Grandpuits biorefinery conversion scheduled for 2026 (210 kt/y SAF capacity)
• SAF production target of 1.5 Mt/y by 2030 (~10% of global market)
• Biogas production capacity: 1.2 TWh/year equivalent of biomethane
• Low-carbon hydrogen call for tenders: up to 500 kt/year for European refineries by 2030

Digital and innovation actions:

• Digital Factory: 300 developers and data scientists optimizing industrial tools
• More than 250 patent applications in 2024
• AUSEA technology sharing with 6 partners for methane detection
• Continuous real-time detection deployment across operated assets

Carbon capture and storage initiatives

CCS project development:

• Four North Sea projects under development for CO2 storage
• 25% stake in Bayou Bend project in Texas
• Studies for Malaysia CCS projects with Petronas and Mitsui partners
• Target gross storage capacity of 10 Mt CO2/year by 2030

Existing CCS operations:

• Snøhvit liquefaction plant: 9 Mt CO2 stored since 2008
• Native CO2 storage planned for Qatar NFE and NFS LNG trains
• Ichthys LNG native CO2 storage solution under study

Nature-based solutions portfolio

Project development:

• 13 sanctioned projects by end 2024
• Portfolio targeting forestry, regenerative agriculture, and wetlands protection
• 13.7 million certified carbon credits in stock (end 2024)
• Target: 50 million carbon credits by 2030

Implementation approach:

• Focus on high-quality, permanent emissions reductions
• Balance of financial revenue from agriculture/forestry with environmental benefits
• Certification by international standards (VCS/Verra, ACR, ANREU)
• Consumption rate of 10% of stock per year from 2030

Human resources and capability building

Workforce engagement:

• "Our 5 Levers for a Sustainable Change" initiative engaging all 102,887 employees
• More than 27,000 employees participated in SDG-related workshops
• 250 sites/business units with local action plans for 2025 objectives
• More than 513,000 days of training provided annually

Technical expertise:

• OneTech branch with 3,500+ R&D personnel
• 15 R&D centers worldwide
• Specialized teams for methane reduction, energy efficiency, and renewable energy development
• Partnership and collaboration teams for non-operated assets

Industry collaboration and partnerships

Oil & Gas Decarbonization Charter (OGDC):

• Co-champion role with ADNOC and Aramco CEOs
• 55+ companies representing 45% of global oil and gas production
• Collaborate & Share program for best practices
• 80% of non-operated production covered by OGDC/OGMP 2.0 members

Technology partnerships:

• 6 cooperation agreements for AUSEA methane detection technology
• Joint ventures for electrolyzer projects powered by renewable electricity
• Tolling contracts for green hydrogen production
• Long-term supply agreements for low-carbon energy products

Actions and resources in relation to climate change policies include seven 'Green Game Jam' initiatives launched in 2024, deployment of green IT, green travel, green procurement policies, and Climate School training at Group level. The Group maintains educated teams and employee communities committed to environmental sustainability.

Actions and Resources in Relation to Climate Change Policies

Decarbonisation Initiatives

Renewable Energy Transition:

• 100% renewable electricity for own activities maintained since previous years
• 33% renewable energy overall in 2024 (including heating and transport)
• Converting benefit vehicle fleet to EV/PHEV
• Testing sustainable aviation fuel for offshore vessels and helicopters

Low-Emission Materials:

• Introduced low-emission steel towers as a new product offering in 2024
• Partnership with ArcelorMittal to enable low-emission steel supply
• Baltic Power project in Poland will be first in the world to utilize low-emission steel for V236-15.0 MW™ turbines
• Expanding range of low-emission materials offerings for 2025 and beyond

Operational Efficiency:

• Decreased Scope 1 and 2 emissions by 44% outside Offshore operations
• Total Scope 1 & 2 emissions: 105k tonnes CO2e in 2024 vs 109k tonnes in 2023
• Improved material efficiency rate to 1.0 tonnes waste per MW in 2024 vs 1.2 in 2023

Supply Chain Decarbonisation

Scope 3 Emissions Reduction:

• Scope 3 GHG emissions intensity improved to 5.66 kg CO2e/MWh generated in 2024 from 6.30 in 2023
• Working with strategic suppliers to reduce carbon intensity of turbine manufacturing
• Enhanced engagement and integration with supply chain partners

Supplier Engagement:

• Annual Vestas Supplier Forum to build relationships and align on sustainability goals
• Formal contractual agreements include sustainability requirements
• Risk mitigation frameworks account for climate-related disruptions

Technology and Innovation

R&D Investment:

• EUR 531m invested in green R&D in 2024 (vs EUR 500m in 2023)
• Continued development of scalable, reliable and sustainable energy solutions
• Focus on larger, more efficient turbines to reduce lifecycle emissions intensity

Product Development:

• V236-15.0 MW™ offshore platform for improved efficiency
• Modular designs for reduced manufacturing emissions
• Circular design principles to enable end-of-life recycling

Climate Impact Metrics

Emissions Avoided:

• Expected GHG emissions avoided over lifetime of 2024 capacity: 455 million tonnes CO2e
• Total expected annual GHG avoided by installed fleet: 239 million tonnes CO2e
• 13 GW of wind turbines delivered in 2024 contributing to global decarbonisation

Resource Allocation

Financial Resources:

• Sustainability-linked bonds issued in 2022 and 2023 were significantly oversubscribed
• Capital allocation priorities include investments supporting long-term decarbonisation goals
• EUR 1.2bn total investments expected in 2025

Organizational Resources:

• Technology & Operations organization with 13,000+ people focused on sustainable industrialization
• Sustainability team with VP level leadership and cross-functional matrix structure
• Regional and functional teams implementing climate initiatives globally

Monitoring and Reporting

Progress Tracking:

• Quarterly assessment of climate-related goals presented to Executive Management and Board
• Annual sustainability key figures subject to assurance
• Regular stakeholder reporting through integrated annual report and sustainability disclosures

Continuous Improvement:

• Regular review and updating of climate action plans
• Benchmarking against industry best practices
• Integration of stakeholder feedback into climate strategy evolution

Stainless steel is a very sustainable, long-lasting, and infinitely recyclable material. Despite these positive qualities, its manufacture accounts for a considerable proportion of global industrial emissions due to the intensive use of electrical energy to melt scrap and ferroalloys, as well as the use of fossil fuels, such as natural gas, in the heating and smelting processes. In addition, the production of stainless steel and high-performance alloys requires the use of ferroalloys and other raw materials, and their availability is crucial to the Group.

One of the pillars of the Sustainability Master Plan is eco-efficiency and climate change mitigation, which sets a target of a 7.5% reduction in energy intensity, a 20% reduction in GHG emissions intensity (Scopes 1 and 2) and a 20% reduction in water withdrawal intensity by 2030, based on 2015.

In relation to the emissions reduction target, the 2025-2030 Decarbonization Plan establishes new, more ambitious targets, aiming to be compatible with limiting global warming to 1.5ºC, and based on science (SBTi). According to this methodology, Acerinox must reduce Scope 1 and 2 emissions by 45.28% by 2030 compared to 2021. A Scope 3 emissions reduction target of 15% for 2030 compared to 2021 has also been set.

2021 has been selected as the base year because it is the first year in which the GHG Inventory of the entire Group, including VDM Metals, was calculated and verified by an external party, as per the GHG protocol. Due to the sale of Bahru Stainless in 2024 and given that the inventory was conducted at the factory level, the recalculation involved the accurate subtraction of emissions associated with Bahru Stainless operations. Acerinox Group emissions in 2021, excluding Bahru Stainless, were 3,117,325 tCO2e Scope 1 and 2 and 4,877,793 tCO2e Scope 3.

In 2025, Haynes International will be integrated into the perimeter of the Decarbonization Plan and its associated targets.

The established emissions reduction targets include the operational approach and the same GHG gases that are included in the GHG inventory. The market-based approach is also used for Scope 2 emissions. The target for 2030 is 1,705,705 tCO2e of Scope 1 and 2 emissions and 4,146,124 tCO2e of Scope 3 emissions.

Prior to the approval of the decarbonization targets, the Company examined two scenarios: the baseline scenario and the achievable sustainable scenario (that aims to be compatible with limiting global warming to 1.5ºC).

First, a baseline scenario in which production remains constant between 2025 and 2030 at 2023 values while the measures included in the Decarbonization Plan are implemented. Under this scenario, the use of renewable energy will not increase in the future.

Second, the achievable sustainable scenario, in which production increases according to internal forecasts in 2030 compared to 2023 and 60% of electricity comes from renewable sources.

Depending on the production level and starting point of each factory, internal goals are established for each premise, with targets for each factory. The individual targets ensure compliance with the group-level target for Scopes 1 and 2. In addition, the overall target is also set in terms of intensity.

Similarly, Scope 3 emissions reduction targets are set at the factory level, both in absolute and relative terms. Under this scenario, the 15% reduction target in Scope 3 emissions by 2030 compared to 2021 is also achieved.

The Decarbonization Plan includes the adoption of new technologies that cannot currently be implemented due to their level of maturity, such as the use of biofuels.

Some studies and pilot projects on hydrogen injection into the natural gas grid were carried out in different factories in Europe, and the biomethane market is being assessed.

Some of these projects are expected to be completed by the end of the plan period.

According to applicable policies, the definition of the energy, emissions and blue water footprint targets was set based on estimated production capacity and industry benchmarks, Stakeholder participation was not considered.

The Sustainability Committee reviews the progress the indicators of energy intensity, emissions intensity and water footprint intensity intensity against the target quarterly, evaluating at the group, division, and factory levels. If significant discrepancies arise, the Head of Sustainability consults with factory managers and presents explanations for these discrepancies to the Sustainability Committee.

The targets established in terms of energy, GHG emissions and water withdrawal are in response to the climate risk analysis conducted in 2023 according to the TCFD methodology. The assessment showed significant transition risks related to carbon taxation mechanisms and significant physical risks related to water stress at the Acerinox Europa and Columbus Stainless factories.

Our targets for 2030

These targets are monitored monthly by the sustainability managers at each factory and later reviewed by the corporate sustainability team. Likewise, changes are assessed on a quarterly basis by the Sustainability Committee, which subsequently reports to the Board of Directors. In each case, the necessary measures are taken.

The annual variable remuneration of the Group's main senior managers is linked to the achievement of these targets, which are being deployed in the different organizational areas.

*This target was initially set for the Stainless Steel Division, but was extended to the entire Group in 2024. **Increase in the percentage of women on staff compared to the previous year, excluding the Haynes staff as it was not part of the scope when the targets were defined.

The targets linked to variable remuneration for 2025, in line with the target's review carried out and compatible with the 2030 Group roadmap, are as follows:

*Increase in the percentage of women on staff compared to the previous year.

Targets related to climate change mitigation and adaptation

Amadeus has established science-based targets validated by the Science Based Targets initiative (SBTi) in June 2024, demonstrating the company's commitment to climate action aligned with climate science.

Science-Based Targets:

Near-term targets (by 2030): • Scope 1 and 2: Reduce absolute scope 1 and 2 GHG emissions by 47% by 2030 from a 2019 base year • Scope 3: Reduce scope 3 GHG emissions by 25% per euro of value added by 2030 from a 2019 base year

Long-term target: • Net-zero: Reach net-zero GHG emissions across the value chain by 2050

Additional Operational Targets: • Carbon neutrality by 2025 for Scope 1+2 emissions (included in executive remuneration metrics) • Electricity consumption per full-time equivalent worker reduction (included in executive remuneration metrics) • Continuous improvement in the use of resources • Building and operating energy-efficient technology platforms and applications

Target Integration: Climate targets are fully integrated into Amadeus' business strategy and governance: • Targets are monitored by the ESG Steering Committee on a quarterly basis • Climate metrics are included in executive compensation schemes (12% weighting) • Progress is reported to the Board of Directors annually • Targets align with Amadeus' ESG Ambition sustainability strategy

Target Methodology: Targets have been developed using: • Science-based target methodology aligned with 1.5°C pathway • Bottom-up approach involving business units • Benchmarking against industry best practices • Consideration of stakeholder expectations and regulatory requirements

Monitoring and Reporting: Amadeus tracks progress against targets through: • Annual GHG emissions inventory covering Scopes 1, 2, and 3 • Regular internal monitoring and reporting • Third-party verification of emissions data • Public disclosure in sustainability reporting

Target Coverage: The targets cover Amadeus' global operations including: • All controlled entities within the consolidation scope • 14 largest sites representing 68% of total workforce • Estimated impacts for remaining sites • Value chain emissions through Scope 3 inventory

By 2030, we want to reduce our CO2 emissions from production (Scope 1) and energy purchases (Scope 2) by 25% compared with 2018 (2018: 21.9 million metric tons, 2030 target: 16.4 million metric tons). In the 2024 business year, this figure was 17.0 million metric tons of CO2 equivalents (2023: 17.0 million metric tons).

By 2030, we want to reduce the specific CO2 emissions from the purchase of our raw materials (Scope 3.1) by 15% compared with 2022 (2022: 1.64 kilograms of CO2 per kilogram of raw materials purchased, 2030 target: 1.39 kilograms). Our specific Scope 3.1 emissions in 2024 amounted to 1.58 kilograms of CO2 per kilogram of raw materials purchased (2023: 1.67 kilograms).

By 2050, we endeavor to reach net-zero greenhouse gas emissions (Scope 1, 2 and 3.1).

The BMW Group has established comprehensive targets related to climate change mitigation and adaptation aligned with scientific climate pathways.

Overall Climate Targets

Long-term Net Zero Commitment

2050 Target: The BMW Group is committed to achieving net zero carbon emissions across its entire value chain by 2050 at the latest.

Science-Based Target Alignment

The BMW Group's ambitious sustainability targets are aligned with:

• 1.5°C pathway of the Paris Agreement for CO2e emissions (Scope 1 and Scope 2)
• Well-Below-Two-Degree (WB2C) approach for CO2e emissions from the supply chain and use phase (Scope 3)

Updated 2030 Target

Absolute Emissions Reduction: In 2030, the BMW Group intends to reduce its carbon emissions levels by at least 40 million tonnes compared to 2019.

Note: This new target replaces the previous goal of reducing carbon emissions per vehicle by 40% over the same period.

Scope-Specific Targets

Scope 1 and 2 Targets (Own Operations)

Energy Requirements: Permanent reduction of energy requirements at BMW Group locations

Renewable Energy: Greater use of renewable energy at BMW Group locations

Infrastructure: Use of cost-effective CO2e-free energy, including through Power Purchase Agreements (PPAs)

Scope 3 Targets (Value Chain)

Supply Chain (Upstream)

Supplier Energy Criteria: Use electricity from renewable sources as a criterion when awarding contracts to suppliers (Scope 3 Purchased Goods and Services)

Secondary Materials: Continuously increasing secondary raw material quota (Scope 3 Purchased Goods and Services)

Product Use Phase (Downstream)

Efficiency Improvements: Use latest technology to improve efficiency (Scope 3 Use of Sold Products)

Product and Technology Targets

Electrification Targets

2024 Achievement: All-electric vehicles accounted for 17.4% of total deliveries

2025 Milestone: Launch of NEUE KLASSE model generation with strong emphasis on efficiency and sustainability throughout the supply chain

2028 Target: Introduction of second all-electric and locally emission-free variant powered by hydrogen fuel cells

Fleet Emissions Targets

Historical Performance: Between 1995 and 2020, the BMW Group halved the CO₂ emissions of its new car fleet in Europe

EU Compliance: The BMW Group regularly surpasses EU carbon targets for its fleet

Advanced Fuel Targets

Immediate Implementation: 2025 pilot project filling all diesel models produced in Germany with non-fossil HVO100 as factory fill

Fuel Compatibility Enhancement:

• B-series petrol engines approved for up to 25% ethanol (E25), reducing CO2e emissions by 20-45%
• B-diesel engines compatible with HVO100 fuel with 90% fewer carbon emissions

Circular Economy Targets

Material Efficiency

4R Principles: Implementation of Re:think, Re:duce, Re:use, Re:cycle principles

Circularity Integration: Strategic approach to close material cycles and gradually move closer to circularity

Resource Reduction: Reduce consumption of resources and drive development of closed material cycles

Adaptation Targets

Risk Management

Scenario Coverage: Address climate risks across three IPCC scenarios:

• Low-emissions: <+1.5°C (SSP1-1.9)
• Medium: +2.5°C (SSP2-4.5)
• High: >+4°C (SSP5-8.5)

Infrastructure Resilience: Integration of climate risk assessments into new construction and conversion planning

Supply Chain Resilience: Strengthen supplier network resilience against climate impacts

Monitoring and Accountability

Target Integration

Climate targets are integrated into:

• Corporate Planning: Long-term corporate planning with CO2e emissions simulation
• Board Reporting: Progress reports to Board of Management at least three times per year
• Performance Management: Regular review against reduction targets with measures initiated as needed

Measurement Framework

Targets measured and reported according to:

• Greenhouse Gas Protocol requirements
• All relevant scopes and categories
• Regular internal review and adjustment processes
• Integration into Group Financial Statements assumptions

Workforce and Social Targets

Just Transition

Employee Development: Continuous investment in building workforce expertise for transformation

Workplace Quality: Modern workplaces that guarantee safety and reliability in productive environment

Training Commitment: Continuous training guarantees jobs during transformation

Strategic Implementation Timeline

2024: Foundation year with 17.4% BEV delivery share and pilot project initiation

2025: NEUE KLASSE launch and HVO100 pilot project full implementation

2028: Hydrogen fuel cell variant introduction

2030: Achievement of at least 40 million tonnes CO2 reduction compared to 2019

2050: Net zero carbon emissions across entire value chain

These targets represent a comprehensive, science-based approach to climate action that addresses both mitigation and adaptation across the BMW Group's entire value chain, with clear milestones and accountability mechanisms to track progress toward the ultimate goal of net zero emissions by 2050.

Targets related to climate change mitigation and adaptation

Danica has set climate targets to meet the climate change mitigation strategy and to address material impacts, risks and opportunities identified through the double materiality assessment. To ensure effective targets that are both scientifically based and operationally feasible, Danica has joined various initiatives under which all targets have been externally verified.

The expectation is that if companies manage their climate-related risks and opportunities, they will have a future-proof business with positive return potentials as a result. Therefore, Danica makes regular reallocations on the basis of climate and ESG analyses and employs active ownership and investment restrictions that support the execution of climate targets.

In 2020, Danica signed up to the international investor initiative the Net-Zero Asset Owner Alliance and thus committed to achieving a net-zero investment portfolio by 2050 in alignment with the Paris Agreement. In 2021, Danica set interim 2025 CO2e reduction targets for its equity and bond investments in five sectors based on the One Earth Model and the Transition Pathway Initiative, the methodologies of which are aligned with the Paris Agreement.

On the basis of this, Danica's objective is that the CO2e intensity of its equity and bond investments within the following industries is to be reduced by 2025 relative to 2019 levels as set out below: • Energy: 15% (covering scope 1, 2 and 3) • Utilities: 35% (covering scope 1) • Steel: 20% (covering scope 1 and 2) • Cement: 20% (covering scope 1) • Transportation:

• automotive: 30% (covering scope 1 and 3)
• shipping: 20% (covering scope 1 and 3)
• aviation: 15% (covering scope 1 and 3)

The reduction targets for each sector are defined according to various carbon scopes. The scopes for each sector were determined according to what the sector's main carbon emissions are and where sufficient valid carbon data is available.

CO2e reduction targets have also been set for the Danish real estate portfolio relative to 2019 levels: • The CO2e intensity is to be reduced by 37% by the end of 2025 and by 69% by the end of 2030.

Together with the Danske Bank Group, Danica in 2023 committed to the UN-supported Science Based Targets initiative (SBTi). On the basis of the existing standards at the time, Danica submitted temperature rating targets for its equity and credit bond investments and decarbonisation targets for the real estate portfolio to the SBTi, which are validated by independent experts. The targets were set according to SBTi methods and data models and aligned with the Paris Agreement. The submitted targets have yet to be approved by the SBTi.

Presently, Danica has defined and submitted the following targets in accordance with the SBTi standards: • Equity and corporate bond investments must have a temperature rating of 2.0°C by 2030 (covering scope 1 and 2) relative to a baseline of 2.5°C in 2020. • Equity and corporate bond investments must have a temperature rating of 2.2°C by 2030 (covering scope 1, 2 and 3) relative to a baseline of 2.8°C in 2020. • The carbon intensity in the Danish real estate portfolio is to be reduced by 69% by 2030 (scope 1, 2 and 3) relative to 2019 levels.

The SBTi and the ambition of a net-zero investment portfolio complement each other as management tools in relation to the target of investing in alignment with the Paris Agreement. The SBTi is a forward-looking metric showing the portfolio's future temperature rating targets, whereas the net-zero ambition is based on the portfolio's actual emissions.

Climate targets have been set on the basis of scientific methodologies. The setting and execution of climate targets do not incorporate or account for potential changes to political goals or regulatory changes that might accelerate the green transition. Nor do they take into account potential major technological advances in climate solutions or changed consumption patterns of green products or the like. Danica has established an in-house working group that continuously monitors progress on the targets based on data from external data providers such as ISS ESG and TPI.

As Danica is a financial institution and not a production company, transitioning the business will not require capital-intensive CapEx or OpEx investments. Accordingly, disclosure requirements related to CapEx and OpEx investments and exposures to specific activities are not considered material. Also, as Danica and Danica Ejendomme are not publicly traded, disclosure requirements regarding inclusion/exclusion from Paris-aligned benchmarks are not considered material.

Climate Change Targets:

Danone has established comprehensive targets for climate change mitigation and adaptation integrated within its Danone Impact Journey and aligned with science-based approaches.

Emission Reduction Targets:

1. Net-Zero Commitment:

• Science-based targets aligned with 1.5°C pathway
• Net-Zero emissions across entire value chain
• Comprehensive Scope 1, 2, and 3 emissions coverage

2. Renewable Energy Target:

• 50% of energy from renewable sources by 2030
• Transition from fossil fuel dependency
• Integration of renewable electricity across operations

Circular Economy and Packaging Targets:

1. Virgin Fossil-Based Packaging Reduction:

• 30% reduction in virgin fossil-based packaging by 2030
• 50% reduction by 2040
• Baseline and interim milestones established

2. Circular Packaging Target:

• 100% of packaging reusable, recyclable, or compostable by 2030
• Comprehensive packaging design transformation
• Circular economy principles implementation

3. Collection System Development:

• Recover as much plastic as the Group uses by 2040
• Effective collection systems leadership
• Plastic circularity closing the loop

Agricultural and Supply Chain Targets:

1. Regenerative Agriculture:

• Support farmers' transition to regenerative practices
• Soil health and carbon sequestration enhancement
• Biodiversity protection and restoration

2. Sustainable Sourcing:

• Integration of climate targets in Sustainable Sourcing Policy (SSP)
• Supplier emission reduction requirements
• Value chain decarbonization alignment

Adaptation Targets:

1. Water Management:

• Water usage reduction across operations
• Watershed protection program implementation
• Climate-resilient water sourcing development

2. Supply Chain Resilience:

• Diversified sourcing portfolio development
• Climate risk assessment integration
• Business continuity enhancement

Target Timeline and Milestones:

2025-2028 Period:

• Like-for-like net sales growth: +3% to +5%
• Structurally double-digit ROIC
• €3 billion free cash flow target

2030 Milestones:

• 50% renewable energy achievement
• 30% virgin fossil-based packaging reduction
• 100% circular packaging implementation

2040 Long-term Targets:

• 50% virgin fossil-based packaging reduction
• Plastic recovery equivalent to usage
• Net-Zero emissions pathway achievement

Target Governance:

• Board oversight of target achievement
• Executive Committee accountability
• Annual progress monitoring and reporting
• Integration with performance management

Measurement and Reporting:

• Science-based target methodology alignment
• Regular progress assessment and communication
• External verification and assurance
• Stakeholder transparency and engagement

Target Integration: Climate targets are integrated with:

• Financial performance objectives
• Business strategy implementation
• Risk management procedures
• Innovation and investment priorities
• Stakeholder engagement activities

Performance Tracking:

• Quantitative metrics and KPIs
• Regular milestone assessment
• Course correction mechanisms
• Continuous improvement processes

Alignment with External Frameworks:

• Science-Based Targets initiative (SBTi)
• Paris Agreement objectives
• UN Sustainable Development Goals
• Industry best practice standards

Targets related to climate change mitigation and adaptation

Climate mitigation target

• Reduce Scope 1 and 2 CO2e emissions by at least 8% by 2030 (baseline not specified in the available text)

Renewable energy target

• Supply all rail journeys and all other operations with renewable energy by 2030

Net zero target

• Reach net zero emissions from all activities by 2050

Progress in 2024 In 2024, DSB further reduced its overall climate impact by 5 percent. For Scopes 1 and 2, the reduction was 7 percent, primarily driven by the increased use of green power. For Scope 3, the reduction was 4 percent in 2024.

Targets related to climate change mitigation and adaptation

Net Zero Targets Timeline

Confirmed the Group pathway towards Net Zero by 2050, targeting:

• Net Zero Carbon Footprint upstream by 2030
• Net Zero Carbon Footprint Eni by 2035
• Net Zero GHG Lifecycle Emissions and Net Zero Carbon Intensity by 2050

Methane Emissions Target

Reaching near-zero methane emissions by 2030 - reaffirmed through the publication of the first Methane Report in 2024.

Upstream Emissions Reduction Target

Net Zero Carbon Footprint upstream by 2030, with significant progress already achieved - net Upstream emissions, in equity share, decreased by 55% in 2024 (vs. 2018 baseline), in line with the Net Zero Upstream goal by 2030.

Business-Specific Targets

Renewable Energy Capacity

Growth of PLENITUDE's installed renewable energy capacity to 15 GW by 2030, enabling it to almost double proforma EBITDA by 2028, to €1.9 billion and grow further to over €2.5 billion by 2030.

Plenitude's renewable capacity is expected to reach 10 GW in 2028, more than double the current level of 4.1 GW.

Biofuel Production

Confirmed ENILIVE's target of more than 5 million tonnes of biofuel production capacity by 2030 along with the optionality of SAF to account for more than 2 million tonnes.

Biofuel production capacity will increase to over 3 million tons/year by 2028, with an important flexibility lever given by SAF optionality.

Chemical Business Transformation

Versalis EBIT break-even by 2027 through transformation plan including setting up of new industrial initiatives consistent with Eni's strategy across biorefining, energy storage initiatives, and development of new business platform of around 10% ROACE by 2030.

Project-Level Targets

Our most recent upstream projects, Baleine in Côte d'Ivoire and Argo/Cassiopea in Italy, are designed to achieve net zero emissions (Scope 1 and 2) from the start-up phase.

CCUS Development Target

Launch in 2025 of the new satellite company related to the CCUS business consolidating the projects in a single entity and leveraging its technical and financial expertise.

Carbon Intensity Reduction

Eni will break down its carbon footprint, both in terms of net emissions and net carbon intensity, achieved through existing and evolving technologies by 2050.

Targets Related to Climate Change Mitigation and Adaptation

Climate Targets Overview

GN has established ambitious climate targets aligned with scientific consensus on limiting global warming to 1.5 degrees Celsius:

Carbon Emissions Reduction Targets

Long-term Target:

• Net-zero emissions by 2050 in line with scientific consensus on limiting global warming to 1.5 degrees Celsius

Medium-term Targets:

• 2030 climate goals for significant emissions reduction (baseline year: 2021)

Achieved Progress (as of 2024):

Adaptation Targets

Supply Chain Resilience:

• Target: Capability to serve almost entire U.S. market from manufacturing outside China
• Status: Implementation ongoing as part of diversification strategy

Operational Resilience:

• Target: Achieve resilient global supply chain able to withstand climate-related disruptions
• Actions: Ongoing diversification of manufacturing footprint and distribution networks

Supporting Targets

Sustainable Design:

• Target: Integrate sustainability considerations into all product design processes
• Focus: Develop products that impact user experience, not environment
• Support: Transition to circular economy through design decisions

Supply Chain Engagement:

• Target: Work with all tier 1 manufacturers and key sub-suppliers on climate initiatives
• Current scope: Working with tier 1 manufacturers supported by more than 100 sub-suppliers

Performance Monitoring

ESG Performance Tracking:

• External validation through ESG ratings:
  • MSCI: AA rating (indicating strong climate performance)
  • Sustainalytics: 10.6 (low risk) rating
  • CDP Climate Change: B rating

Internal Monitoring:

• Annual tracking of emissions reduction progress against 2021 baseline
• Regular assessment of climate target achievement
• Integration of climate performance into business reporting

Target Alignment

Science-based Alignment:

• Targets aligned with 1.5°C global warming limitation as per scientific consensus
• 2021 established as baseline year for climate targets
• Regular review against evolving climate science

Business Integration:

• Climate targets integrated into overall business strategy
• Financial targets towards 2028 consider climate resilience
• Operational planning incorporates climate target achievement

Future Target Development

Continuous Enhancement:

• Regular review and potential enhancement of climate targets
• Alignment with evolving regulatory requirements
• Integration with industry best practices and stakeholder expectations

Scope Expansion:

• Potential expansion of targets to cover additional scopes and activities
• Enhanced granularity in target setting across business divisions
• Integration with circular economy targets

These targets demonstrate GN's commitment to achieving significant climate impact reduction while building resilience against climate-related risks, supporting both global climate goals and long-term business sustainability.

Climate targets overview

In 2023, Hilti achieved CO2 neutrality within its own operations, marking a significant milestone in its commitment to reducing carbon emissions. Hilti's broader climate strategy is guided by emission reduction targets validated by the SBTi.

Long term commitment: Net-Zero by 2050

The Hilti Group aims to reach net-zero GHG emissions across its entire value chain by 2050, with 2022 as the base year. The commitment includes:

• Scope 1 and 2 GHG emissions (approximately 5% of Hilti's total emissions): A 90% absolute reduction
• Scope 3 GHG emissions (approximately 95% of Hilti's total emissions): A 90% absolute reduction covering the following categories: purchased goods and services, capital goods, fuel and energy-related activities, upstream transportation and distribution, waste generated in operations, business travel, employee commuting, upstream leased assets, downstream transportation and distribution, use of sold products and end-of-life treatment of sold products

Near-term targets for 2032

To drive near-term progress, Hilti has set interim science-based targets for 2032, with 2022 as the base year:

• Scope 1 and 2 GHG emissions: A 50.4% absolute reduction
• Maintaining 100% renewable electricity sourcing
• Scope 3 GHG emissions: A 30% absolute reduction covering the following categories: direct purchased goods and services, fuel and energy-related activities, upstream transportation and distribution, business travel and use of sold products

The target boundary includes land-related emissions and removals from bioenergy feedstocks.

Interim targets for 2030 are derived linearly from the 2032 SBTi near-term targets and align with these objectives to ensure alignment and continuity in progress.

Base year and GHG coverage

2022 was selected as a representative base year after COVID-19 disruptions. Hilti's targets cover all greenhouse gases defined under the ESRS, calculated in CO2 or CO2 equivalents.

Target alignment and validation

These targets align with Hilti's Environmental Policy objectives, reducing the Group's ecologic footprint while integrating sustainability into procurement processes.

Progress monitoring and stakeholder involvement

Performance is reviewed annually at multiple organizational levels, in alignment with Hilti's strategic targets. These efforts involve diverse internal and external stakeholders, including supply and development teams, who played a pivotal role in setting SBTi-aligned targets.

Future considerations

While future scenarios are considered, including shifts in sales volumes and customer preferences, all targets are consistent with limiting global warming to 1.5°C under the SBTi framework. These targets are independent from sectoral decarbonization pathways. The targets are validated by the SBTi.

Target setting

KONE's science-based targets for Scope 1 and 2 as well as Scope 3 were set in 2020, validated by the Executive Board and approved by the Board of Directors. The aim was to align KONE's emission reduction activities with the overall business strategy and financial planning.

The science-based targets cover 100% of KONE's Scope 1 and market-based Scope 2 emissions and almost 99% of KONE's Scope 3 emissions (category 1: purchased goods and services and category 11: use of sold products).

The science-based targets coupled with annual renewable electricity and carbon neutral operation targets form KONE's emission reduction plan and its global Climate Pledge to drive the needed emission reduction activities in both KONE's own operations and related to its products and value chain. KONE's strategy and business model are compatible with the transition to a sustainable economy, and with the limiting of global warming to 1.5 °C in line with the Paris Agreement.

The science-based targets were set in collaboration with relevant internal stakeholders and global business units including R&D, Innovation and procurement. In addition, Science Based Target initiative (SBTi) standards and criteria were followed at the time in line with a cross-sector emission pathway compatible with limiting global warming to 1.5°C accounting for business growth in different geographical areas and business lines. The 2018 baseline was chosen in line with SBTi guidelines and criteria for a representative year which covered the most recent period for which the data was available at the time. SBTi has assessed and approved the targets, and the progress against the targets is externally assured annually. The emission reduction roadmap and business growth estimations are also reviewed annually to align with KONE's overall business outlook.

All of KONE's emission reduction targets (Scope 1,2 and 3) and intermediate milestones are presented in the table 'GHG emission reduction targets'. These targets are based on KONE's science-based targets, and the intermediate milestones have been set to ensure that KONE remains on track towards its 2030 targets. During the reporting year 2024, KONE reached net Scope 1 and 2 emission reduction of 29% (2023: 25%) compared to its 2018 emissions of 154,700 tCO2e, exceeding the emission reduction target of -25% (2023: -21%).

GHG emission reduction targets:

Scope 3 emissions decreased by 13% vs. 2018 which was 6 percentage points below the target. However, KONE is confident in reaching the -40% target by 2030, supported by the emission reduction activities and new strategy emphasizing carbon reduction which will be continued in 2025 and beyond. Actions are prioritized to further increase the energy efficiency of KONE's solutions and its materials while also engaging suppliers to improve the material efficiency of KONE's solutions.

Targets

As part of our climate strategy, our climate targets are set out in our Climate and Environment policy and address the climate change-related impacts, risks and opportunities along our value chain. In setting our climate targets, we used the Science-Based Targets Initiative (SBTi) and Greenhouse Gas Protocol (GHG Protocol) methodologies to ensure that our targets are science-based and consistent with the ambitious goals under the Paris Agreement, and in particular the goal of limiting global warming to 1.5 degrees Celsius. Our targets are based on consistent emission factors from recognised databases provided by the UK Department for Environment, Food & Rural Affairs (DEFRA), the International Energy Agency (IEA) and others. We also base our targets on the robust findings of the latest reports of the Intergovernmental Panel on Climate Change (IPCC) to ensure that our strategies are in line with the latest science and global efforts to mitigate climate change.

Our emission reduction targets relate to greenhouse gases quantified in tonnes of CO2 equivalent (t CO2e). This unit of measurement allows us to put the different greenhouse gases generated by our activities on a common footing, providing a consistent and comparable basis for our targets and for measuring our progress. Our Scope 2 target uses the market-based approach, with Scope 2 emissions reported in accordance with the GHG Protocol to avoid double counting.

In connection with its sustainability targets, Krones has involved the SBTi as an external stakeholder in order to validate the set targets. The SBTi has confirmed that our targets are consistent with the science on limiting climate change. Both our short-term targets and long-term targets, including the net zero target, have been validated by the SBTi.

The Scope 3 GHG emission reduction targets for the short-term time horizon were adjusted in the 2024 financial year. This adjustment reflects increased ambition to demonstrate our responsibility and reinforce our commitment to a more sustainable value chain on the 1.5 degrees Celsius reduction pathway. We regularly review our emission reduction targets to take account of new scientific findings and developments in the policy framework.

The entity-specific energy footprint KPI measures the electrical and thermal energy consumption of the filling and packaging technology portfolio products sold per 1,000 filled and packaged containers in production operations. The KPI relates to Krones AG. Krones AG is responsible for the main consumption and therefore uses this metric as a steering element. It is weighted by order intake in euros for complete and partial lines in each line cluster. The aim of the KPI is to track our performance in terms of the energy and media efficiency of the line clusters we sell, as well as research and development activities relating to our machinery. It enables us to tell whether the machines and lines we sell are becoming more energy-efficient and reducing overall energy consumption. Based on consumption data forecasts from the ERP system on all Krones AG lines sold during the year, we calculate the average energy consumption per 1,000 bottles and containers for each line cluster and then the total energy index across all line clusters weighted by order intake.

We have not set a specific target for the material topic of climate change adaptation and do not currently plan to do so. However, this is continually reviewed based on current developments and needs. The topic of climate change adaptation is part of our Climate and Environment policy, in which we specify related standards. Compliance with the policy is monitored by defined processes that include the monitoring of actions and audits. We are thus taking action, based on the results of the climate transition risk assessment in 2023, to adapt to the negative impacts of climate change.

Climate Change Targets

The decarbonisation process continued with the reduction of Scope 1 and 2 (market-based) CO2 emissions in line with the commitment to the Science-Based Targets Initiative. The further reduction of 4.4% was achieved, despite the increase in business volumes, mainly thanks to the progressive replacement of SF6 gas with a gas with a lower environmental impact, energy efficiency initiatives and the increase in the share of energy from renewable sources purchased by the network.

Targets related to climate change mitigation and adaptation

Science-Based Climate Targets

Lundbeck has established science-based targets validated by the Science Based Targets initiative (SBTi) that align with limiting global warming to 1.5°C and achieving net-zero emissions.

Near-term Targets (2030)

Scope 1 and 2 Emissions Reduction:

• Target: Reduce absolute Scope 1 and Scope 2 greenhouse gas emissions by 46% by 2030 from 2019 baseline
• Baseline year: 2019
• Baseline emissions: [Baseline emissions data from 2019]
• Target year: 2030
• Progress (2024): 38% reduction achieved since 2019 baseline
• Status: On track - significant progress toward 2030 target

Scope 3 Emissions Reduction:

• Target: Reduce Scope 3 greenhouse gas emissions from purchased goods and services, upstream transportation and distribution, and business travel by 25% by 2030 from 2019 baseline
• Baseline year: 2019
• Target year: 2030
• Progress (2024): 18% increase since 2019 baseline
• Status: Requires acceleration - implementing enhanced supplier engagement and circular economy initiatives

Long-term Targets

Net-Zero Commitment:

• Target: Achieve net-zero greenhouse gas emissions across the entire value chain by 2050
• Scope: All Scope 1, 2, and 3 emissions
• Approach: Combination of emission reductions and carbon removal for residual emissions
• Alignment: Paris Agreement 1.5°C pathway and SBTi net-zero standard

Operational Targets

Energy Efficiency:

• Target: Continuous improvement in energy efficiency across all operations
• Metric: Energy consumption per unit of production
• Initiatives: LED upgrades, HVAC optimization, process improvements
• Progress: Ongoing efficiency improvements implemented across facilities

Renewable Energy:

• Target: Transition to 100% renewable electricity for own operations
• Timeline: Progressive implementation through 2030
• Approach: Power Purchase Agreements (PPAs), green electricity procurement, on-site generation where feasible
• Progress: Significant increases in renewable energy procurement in 2024

Chemical Recovery:

• Target: Increase recovery rate of organic solvents used in chemical production
• Current performance: 62% recovery rate in 2024 (up from 59% in 2023)
• Initiative: New chemical recovery unit construction (completion expected late 2025)
• Expected improvement: Significant increase in recovery rates upon completion

Supply Chain Targets

Supplier Engagement:

• Target: Engage key suppliers representing significant portion of Scope 3 emissions to set science-based targets
• Timeline: Ongoing through 2030
• Approach: Supplier climate assessments, capability building, target-setting collaboration
• Metric: Percentage of suppliers (by emissions) with science-based targets

Sustainable Sourcing:

• Target: Increase sourcing from suppliers with strong climate commitments
• Approach: Integration of climate criteria in supplier selection and evaluation
• Metric: Percentage of procurement spend with climate-committed suppliers

Adaptation Targets

Climate Resilience:

• Target: Enhance operational resilience to physical climate risks
• Initiatives: Supply chain resilience building, infrastructure improvements, emergency preparedness
• Metric: Business continuity performance during climate events
• Timeline: Ongoing resilience enhancements through 2030

Risk Management:

• Target: Regular assessment and management of climate-related risks and opportunities
• Approach: Annual climate risk assessment, scenario analysis, TCFD-aligned disclosure
• Integration: Climate considerations in strategic planning and investment decisions

Target Governance and Monitoring

Accountability:

• Board oversight: Board of Directors reviews progress on climate targets quarterly
• Executive responsibility: CEO and Executive Management accountable for target achievement
• Performance integration: Climate targets integrated in management performance evaluation
• Incentive alignment: Climate performance considerations in executive compensation

Progress Tracking:

• Annual measurement: Comprehensive GHG emissions inventory and progress assessment
• Third-party verification: External assurance of emissions data and target progress
• Public reporting: Annual disclosure of progress in sustainability reporting and CDP
• Management reporting: Monthly and quarterly tracking of key climate indicators

Target Performance (2024)

Challenges and Mitigation

Scope 3 Emissions Challenge:

• Issue: Scope 3 emissions increased 18% since baseline, contrary to reduction target
• Root causes: Business growth, supply chain complexity, limited supplier engagement maturity
• Mitigation actions:
  • Enhanced supplier collaboration programs
  • Circular economy initiatives
  • Alternative sourcing strategies
  • Technology partnerships for sustainable alternatives

Supply Chain Complexity:

• Challenge: Global supply chain with diverse supplier base
• Mitigation: Prioritized engagement with highest-impact suppliers, capability building programs

Technology Readiness:

• Challenge: Some emission reduction technologies still in development
• Mitigation: Investment in innovation partnerships, pilot projects, technology scouting

Target Updates and Enhancement

Regular Review:

• Annual review of target appropriateness and progress trajectory
• Integration of learnings from implementation and best practice developments
• Alignment with evolving regulatory requirements and stakeholder expectations

Potential Enhancements:

• Short-term targets: Consider additional interim targets to 2030 for better progress tracking
• Scope 3 detail: More granular targets for different Scope 3 categories
• Adaptation targets: Quantitative targets for climate resilience and adaptation measures
• Innovation targets: Targets for sustainable technology development and deployment

Alignment with External Frameworks

Science Based Targets initiative (SBTi):

• Targets validated by SBTi and aligned with 1.5°C pathway
• Commitment to submit net-zero target for validation
• Regular reporting on progress through SBTi dashboard

Paris Agreement:

• Targets contribute to global Paris Agreement objectives
• Alignment with nationally determined contributions (NDCs) in key markets

Regulatory Alignment:

• Targets support compliance with emerging climate regulations
• Alignment with EU taxonomy and green finance requirements
• Integration with CSRD/ESRS disclosure requirements

Our climate targets represent ambitious yet achievable commitments that drive meaningful action while supporting business sustainability. We are committed to transparent reporting on our progress, challenges, and the actions we are taking to achieve these important goals.

MAPFRE Group maintains environmental commitments in its insurance and reinsurance underwriting business to contribute to the transition toward a low-carbon economy, reinforcing the commitment to be a net zero company by 2050.

Our target is to reduce our value chain emissions (tCO₂e) by 50% by 2032 in line with the Paris Agreement (to limit global warming to 1.5°C). Base year of target is 2022.

Carbon handprint: We help our customers to reduce their GHG emissions by at least 20 MtCO2e annually by 2030 with our renewable and circular solutions.

Carbon footprint (scopes 1 & 2): We reduce emissions in our own production by 50% by 2030 and reach carbon neutral production by 2035.

Use phase emission intensity: We reduce the use phase emission intensity of sold products (scope 3) by 50% by 2040 compared to 2020 levels, and work with our suppliers and partners to reduce emissions across our value chain (scope 3).

After the first target of halving our scopes 1 & 2 emissions by 2030, we are committed to reaching carbon neutrality in our own production by 2035. To achieve this, on top of the identified short-, medium- and long-term decarbonization measures, credible additional actions are needed within or beyond our value chain to neutralize or mitigate the residual emissions.

Climate Change Targets

Total greenhouse gas emissions: 10 percent reduction by 2025 and 30 percent by 2030 against 2018 baseline. Net-zero by 2050 or before.

Indirect Scope 3 GHG emissions: 30 percent reduction per tonne aluminium by 2030 against 2018 baseline.

2024 Performance

In 2024, Hydro's total scope 1 and 2 emissions were 16.1 percent lower than the 2018 climate strategy baseline, exceeding the target of 10 percent reduction compared to the baseline. Total scope 3 emissions represent a 40 percent reduction of upstream scope 3 emissions per tonnes aluminium produced compared to the 2018 baseline, surpassing the 2030 reduction target of 30 percent.

Climate targets

Net-zero commitment

We are committed to reaching net-zero greenhouse gas emissions by 2040 across our full value chain (Scopes 1, 2 and 3).

Science-based targets

• Scope 1 and 2: Reduce absolute Scope 1 and 2 emissions by 45% by 2030 compared with 2019
• Scope 3: Reduce Scope 3 emissions by 25% by 2030 compared with 2022

Progress against targets

Our 2030 targets are validated by the Science Based Targets initiative (SBTi) and aligned with limiting global warming to 1.5°C.

Additional targets

• Over 75% renewable electricity procurement achieved globally
• Environmental sustainability criteria now cover 76% of Scope 3 emissions through supplier contracts

Net zero emissions target

We have a clear focus on decoupling our environmental impact from our growth as we progress towards our net zero 2045 emissions target.

Scope 3 emissions reduction target

To achieve net zero emissions by 2045, we have a roadmap to reduce scope 3 emissions by 33% by 2033, using 2024 as the baseline. This target – which covers nearly 70% of our scope 3 emissions in accordance with Science Based Targets initiative (SBTi) provisions – is aligned with climate science and has been submitted to the SBTi for validation.

OMV is committed to achieving net zero emissions (Scopes 1, 2, and 3) by 2050, with interim targets for 2030 and 2040. The 2030 strategic priorities are to reduce absolute Scope 1 and 2 emissions by 30%, Scope 3 emissions by 20%, and the carbon intensity of the energy supply by 15–20%. All reduction targets are measured against a 2019 baseline. For Scopes 1 and 2, OMV is aiming for an absolute reduction of 60% by 2040. For the defined categories in Scope 3, OMV is aiming for an absolute reduction of 50% by 2040. For 2040, OMV continues to target a 50% decrease in its carbon intensity of energy supply.

As part of its sustainability strategy, OMV aims to achieve an Exploration & Production (E&P) methane intensity of 0.1% or lower by 2030.

OMV aims to phase out routine flaring and venting entirely by 2030.

See page 91 for details on our SBTi-validated climate targets. Science-based 2040 net-zero target, validated by SBTi. GHG emissions intensity targets: -77% by 2030, -99% by 2040 (g CO₂e/kWh, Scopes 1-3 excl. gas sales).

Targets Related to Climate Change Mitigation and Adaptation

Absolute Emission Reduction Targets

Primary Climate Targets: Repsol has set ambitious targets for reducing absolute greenhouse gas emissions:

• 20% reduction in Scopes 1, 2 and 3 emissions by 2030 compared to base year 2018 (224 Mt CO₂e)
• Net zero emissions (NZE) by 2050

Progress Against Targets: In 2024, Repsol's emissions (Scopes 1, 2 and 3) totaled 192.7 Mt CO₂e, reflecting a 14% reduction from the base year 2018, demonstrating significant progress toward the 2030 target.

Carbon Intensity Target

Carbon Intensity Indicator:

• 2024: 66.7 gCO₂e/MJ
• 2023: 68.6 gCO₂e/MJ
• Shows continued improvement in carbon intensity performance

Business-Specific Targets

Industrial Transformation Targets:

• Renewable fuel production capacity: Increased to 1.25 Mt/year in 2024 (from 1.00 Mt/year in 2023)
• Target to reach 1,500 service stations supplying 100% renewable fuel by end of year (from 800+ currently)

Renewable Energy Targets:

• Achieved 3,659 MW renewable generation capacity by end of 2024
• 67% increase in renewable wind and solar power production
• Portfolio of 3,106 MW renewable capacity under development

Multi-Energy Customer Targets:

• Achieved 2.5 million electricity and gas customers (15% increase from 2023)
• 9.3 million digital customers (increase of more than 1 million from 2023)
• Expanded to around 2,800 public charging points installed

Investment Targets for Climate Action

Strategic Plan 2024-2027 Targets:

• €16,000-19,000 million total planned investment
• Above 35% of investments focused on low-carbon businesses
• More than €500 million investment in technology and digitalization

Operational Performance Targets

Upstream Production Targets:

• Target average production of 550,000 barrels over Strategic Plan term
• 2024 achievement: 571,000 barrels of oil equivalent per day (exceeded target)

Financial Performance Integration

Shareholder Return Targets: While pursuing climate targets, maintain:

• 25-35% of operating cash flow as total payout
• 3% annual growth in dividend payments
• Investment grade credit rating maintenance

Technology Development Targets

Innovation Targets:

• 58% of technology projects focused on low emissions (achieved in 2024)
• More than 250 technology projects annually
• Continued development of carbon capture, storage and utilization technologies

Scope-Specific Targets

Scope 1 & 2 Emissions:

• 2024: 14.0 Mt CO₂e (operational scope)
• 2023: 14.8 Mt CO₂e
• Shows 5.4% reduction year-over-year

Scope 3 Integration: Targets include full value chain emissions (Scopes 1, 2 and 3) demonstrating comprehensive approach to climate impact management.

Long-term Vision Target

2050 Net Zero Commitment: "Repsol remains firmly aligned with the global objectives of keeping global warming below 1.5°C by the end of the century and of achieving emissions neutrality by 2050."

Climate Change Targets

Net-Zero by 2045: We have set ourselves the ambitious target of achieving net-zero emissions throughout our value chain by 2045 as part of the Science Based Targets initiative.

Absolute Zero by 2050: We aim to reach absolute zero scope 1 and 2 emissions by 2050. We are the only ones in the industry striving for absolute zero. Our commitment goes beyond reducing CO₂ emissions, and it will surely not end in 2050. It is an ongoing way of how we do business.

Science-Based Targets: Our targets are aligned with the Science Based Targets initiative (SBTi), which provides a framework for companies to reach net zero. In 2024, we submitted ambitious net-zero targets to the SBTi for validation.

Climate Targets

Scope 1 & 2 Emissions

• Target: Reduce emissions by 42% (Scope 1 & 2) compared to 2020 baseline

Scope 3 Emissions

• Target: Reduce emissions by 25% (Scope 3) compared to 2020 baseline

Long-term Target

• Net zero emissions by year 2050
• Saab becomes the first major defence company to receive approval for its 2050 greenhouse gas emission targets by the Science Based Targets initiative

Climate Targets

Salzgitter AG's ambitious climate targets were ratified by the Science Based Targets Initiative in June 2024. The Salzgitter Group's SBTi reduction targets accord with the 1.5°C target of the Paris Agreement. The year targeted for short-term objectives is 2028. In adopting this time horizon, the Salzgitter Group is underscoring its pioneering role in transforming the steel industry. All Group companies in Germany and abroad have now been taken under responsibility to contribute to achieving the targets. In the long term, Salzgitter AG intends to reach the net zero target by 2050 at the latest.

In 2026, we aim most particularly to have completed the first step in laying the cornerstone of our SALCOS® program that will make it technically possible for us to reduce our Scope 1 and Scope 2 CO₂e emissions by 30% compared with 2018.

The main targets and progress against targets are presented in the following sections: 3.2.1.4.2. GHG emissions for targets related to GHG emission reductions and 3.2.1.2. Transition plan for climate change mitigation (E1-1) for targets related to decarbonization levers. Please refer to section 3.2.1.2. Transition plan for climate change mitigation (E1-1) for actions and resources related to the Climate Change – Road to Net Zero sub-program of the CSR policy.

Climate-related targets and progress

Main GHG reduction targets versus the 2019 baseline:

Additional supporting goals:

1. Increase our annual supply of renewable electricity to 80% in 2025 and then 100% in 2030;
2. Invest in carbon offset projects that combine a positive impact on both communities and the environment to offset residual emissions from 2030, on top of a science-based emission reduction trajectory;

Progress to date on key targets:

Scope 1 & 2 emissions reduction:

• 47% reduction achieved by 2024 (versus 2019 baseline)
• From 708 ktCO2eq in 2019 to 374 ktCO2eq in 2024
• Target: 55% reduction by 2030

Scope 3 emissions reduction:

• 10% reduction achieved by 2024 (versus 2019 baseline)
• From 4,265 ktCO2eq in 2019 to 3,823 ktCO2eq in 2024
• Target: 30% reduction by 2030

Renewable electricity:

• 85% of electricity consumption from renewables in 2024 (versus 16% in 2019)
• Target: 100% by 2030

Vehicle fleet:

• 50% of Sanofi's fleet meets eco-fleet criteria
• CO2e emissions from sales forces cut by 50% versus 2019 baseline
• Target: 80% eco-fleet by 2030

Supplier engagement:

• 205 suppliers engaged in the Supplier Engagement Program in 2024
• Covering 75% of supplier-related emissions
• Representing 50% of procurement spend

Other achievements:

• 41% reduction in refrigerant discharge impact since 2019, avoiding 9,300 tons of CO2e emissions
• 18.8 GWh generated from solar panels at the end of 2024 (versus 0.5 GWh in 2021)
• 11 Power Purchase Agreements signed in 2024 for 238.5 GWh per year
• 210 GWh per year biomethane supply contract signed for France (2024-2030)

Targets related to climate change mitigation and adaptation

Siili's Climate Targets by 2030:

Siili has identified climate change mitigation as a material sustainability topic through its double materiality analysis. The company has committed to ambitious emission reduction targets as part of its sustainability strategy.

Siili has not set any sustainability-related targets for the financial year 2024, but it will evaluate and establish detailed targets, including interim milestones and action plans, in 2025. The Board of Directors will confirm the sustainability goals during 2025.

The company will develop specific implementation plans, metrics, and monitoring systems to track progress toward these targets as part of its sustainability program development in 2025. These targets will be integrated into Siili's overall business strategy and management systems.

Climate targets:

• Carbon neutrality by 2050
• -30% Scope 1 & 2 GHG emissions by 2030 (vs 2021)
• -20% Scope 3 GHG emissions Focus 5 categories by 2030 (vs 2021)
• Coal phase out by 2030 in all sites but Devnya which requires more time

In 2024, €25 million in capital expenditure were allocated to Solvay's transition plan.

Climate Change Mitigation and Adaptation Targets:

Quantitative Targets:

Science-Based Targets: All targets are science-based and aligned with limiting global warming to 1.5°C scenario, demonstrating our commitment to the most ambitious climate action.

Forest-Based Targets:

• Forest Certification: Maintain 99% certification coverage (achieved: 99%)
• Carbon Sequestration: Maintain and enhance carbon storage in forest assets
• Biodiversity: Net positive impact on biodiversity by 2030

Adaptation Targets:

• Enhance forest resilience through sustainable management practices
• Adapt operations to physical climate risks
• Strengthen supply chain resilience to climate impacts

Business Transformation Targets:

• Strategic Growth Areas: 80% of sales from renewable packaging, sustainable building solutions, and biomaterials innovation by 2030 (current: 47%)
• Market Position: Strengthen leading positions in high-growth, low-carbon segments

Performance Against Targets:

Exceeded Targets:

• ✅ Scope 1 & 2 emissions: Achieved 53% reduction vs. 50% target by 2030
• ✅ Forest certification: Maintained 99% coverage vs. 96% target

On Track:

• 🔄 Scope 3 emissions: 39% achieved toward 50% target by 2030
• 🔄 Circularity: 94% achieved toward 100% target by 2030

Target Monitoring:

• Regular tracking and reporting of progress
• Integration with business performance indicators
• Board-level oversight through Sustainability and Ethics Committee
• External verification of key metrics

Financial Integration: Climate targets are integrated into financial performance with long-term targets including:

• Sales growth >5% per annum driven by sustainable products
• Adjusted ROCE >13% through efficient climate solutions
• Dividend policy supporting sustainable growth

Targets related to climate change mitigation and adaptation

Carbon neutrality target

Sustainable innovation targets

Strategic business targets supporting climate goals

Operational efficiency targets

Value chain targets

Timeline for achievement

• 2025: Continue progress toward carbon neutrality target
• 2030: Achieve 100% carbon neutrality in own operations (scopes 1 and 2)
• Ongoing: Maintain > 70% of turnover linked to SDGs
• Ongoing: Support customer sustainability targets through innovative product portfolio

Targets related to climate change mitigation and adaptation

2030 Climate targets

GHG emissions targets:

Carbon intensity targets:

Energy production targets:

Technology-specific targets

Renewable energy targets:

Low-carbon molecules targets:

Operational efficiency targets

Energy efficiency targets:

Methane reduction targets:

Carbon management targets

Carbon capture and storage:

Nature-based solutions:

Long-term ambition (2050)

Carbon neutrality vision:

• Production mix by 2050:

  • ~50% electricity (500 TWh/year from ~400 GW renewable capacity)
  • ~25% low-carbon molecules (50 Mt/year biogas, hydrogen, e-fuels)
  • ~25% Oil & Gas (primarily LNG ~25-30 Mt/year)

• Residual emissions management:

  • 10 Mt CO2e/year Scope 1+2 residual emissions offset by nature-based carbon sinks
  • 100 Mt CO2e/year Scope 3 emissions addressed through CCS/CCU solutions

Target governance and monitoring

Review and updates:

• Regular assessment of target progress and achievement
• Enhanced targets when ahead of schedule (2025 Scope 1+2 target strengthened)
• Integration with business planning and capital allocation
• Third-party verification of key metrics and methodologies

Alignment with scenarios:

• Targets consistent with IEA scenarios and Paris Agreement objectives
• Scope 1+2 reduction aligned with EU "Fit for 55" program (-37% by 2030)
• Lifecycle carbon intensity trajectory consistent with IEA APS scenario
• Independent third-party (Wood Mackenzie) audit of calculations and trajectories

Tryg has set ambitious climate targets as part of its 2027 strategy:

CO2e emissions reduction target: Tryg has set a target of reducing CO2e emissions by 6% per average claim by 2027 compared to 2024. This target addresses Tryg's main emission footprint through its claims handling activities.

2024 achievements: In 2024, Tryg reduced CO2e emissions of 27,825 tonnes in claims handling, exceeding the target of 20,000-25,000 tonnes. The fulfilment of this target was made possible through several initiatives for increasing repairs and the use of reused materials in claims handling.

Product adaptation target: Tryg targets adapting 30 product categories, corresponding to 60% of categories in scope for the EU Taxonomy, to help customers adapt to climate change and implement prevention measures.

The Group has set a science-based emissions reduction target validated by SBTi to reduce Scope 1 and 2 emissions by 42% by 2030, compared to 2020 baseline emissions.

Targets Related to Climate Change Mitigation and Adaptation

GHG Emissions Reduction Targets

Scope 1 & 2 Emissions Targets:

• 2025 Target: Reduce scope 1 & 2 emissions by 55% from 2019 baseline
• 2030 Target: Achieve 100% reduction in scope 1 & 2 emissions (carbon neutrality without offsets)
• Current Status: 105k tonnes CO2e in 2024, showing improvement from 109k tonnes in 2023

Scope 3 Emissions Targets:

• 2030 Target: Reduce scope 3 GHG emissions per MWh generated by 45% from 2019 baseline
• Current Performance: 5.66 kg CO2e/MWh generated in 2024, improved from 6.30 in 2023

Energy and Resource Efficiency Targets

Renewable Energy Usage:

• Target: 100% renewable electricity for own activities (achieved and maintained)
• Performance: 33% renewable energy overall in 2024, with 214 GWh renewable energy consumed

Material Efficiency:

• 2025 Target: Improve material efficiency rate to 1.2 tonnes waste per MW produced and shipped
• 2030 Target: Improve material efficiency rate to 0.2 tonnes waste per MW produced and shipped
• 2024 Performance: 1.0 tonnes waste per MW, showing improvement from 1.2 in 2023

Target Revalidation and Challenges

2025 Target Status: Vestas acknowledges that current projections indicate we will not deliver on the 2025 target to reduce GHG emissions by 55%. This is primarily due to:

• Expanded scope of operations including offshore activities
• Original targets set before re-entering offshore wind market
• Increased overall business activities and manufacturing capacity

Planned Actions:

• Seek revalidation of targets in 2025 considering new scope of operations
• Comply with SBTi five-year revalidation requirement
• Maintain alignment with Paris Agreement goals
• Continue adaptation of strategy and transition plan

Positive Impact Targets

Climate Impact:

• Achievement: 455 million tonnes CO2e expected to be avoided over lifetime of capacity produced and shipped in 2024
• Fleet Impact: 239 million tonnes CO2e expected annual avoided emissions from total installed fleet
• Capacity Growth: 13 GW of wind turbines delivered in 2024

Integration with Business Strategy

Financial Targets Alignment: Climate targets are integrated with long-term financial ambitions including:

• At least 10% EBIT margin before special items
• 20% ROCE over the cycle
• Market leadership in revenue growth

Technology Targets:

• Continued R&D investment (EUR 531m in 2024) to advance sustainable energy solutions
• Development of larger, more efficient turbines
• Innovation in low-emission materials and manufacturing processes

Governance and Monitoring

Oversight: Climate targets are monitored through:

• Quarterly assessment by Executive Management and Board
• Annual sustainability reporting with external assurance
• Integration into strategic planning and capital allocation

Accountability: Progress against climate targets influences:

• Strategic decision-making
• Resource allocation
• Performance evaluation
• Stakeholder communications

In some industrial sectors, such as the steel industry, energy use is intensive due to their activity. Acerinox consumes substantial amounts of fossil fuels and electricity to melt scrap and ferroalloys.

Energy consumption and mix (MWh) - 2024

*Renewable electricity consumption from the energy mix refers to the percentage of renewable energy from the remaining energy mix, excepting Columbus Stainless, VDM Metals USA, and Bahru Stainless from the supplier's energy mix. **Acerinox does not produce its own energy. ***Acerinox does not consume hydrogen as fuel.

For more details on the calculation methodology and assumptions related to these metrics, see Appendix 8.4. Calculation of the Greenhouse Gas Inventory. The measurement has not been verified by any independent external body beyond the verification provider. However, the environmental management system is certified under ISO 14001.

The activity carried out is considered to be a sector with high climate impact, included in Section C. Manufacturing, subgroup 24. Manufacture of basic metals in accordance with Regulation (EC) No. 1893/2006 (NACE Codes).

Where:

*Acerinox Group net income is included in the Net Revenue figure of the Profit and Loss Statement of the financial statements.

Acerinox has been promoting innovation and the development of more efficient and cleaner technologies in steel production for years.

Since 2015, energy management has been monitored in terms of intensity (GJ/metric ton of steel produced), and in 2020, a target was set to reduce the Stainless Steel Division's energy intensity by 7.5% in 2030 compared to 2015 levels. In 2024, the target was expanded to include the entire Group.

The achievement of this target has been affected by the drop in production, the Group's internal situation and the macroeconomic and political environment. The strike undertaken by Acerinox Europa workers and the closure of the Bahru Stainless factory have had an impact on the drop in melting shop production of approximately 10% (12% if factories without melting shop are included). To these factors, we must add the impact of the energy crisis and international conflicts.

These circumstances worsened the indicator of energy intensity per metric ton of steel produced, which stood at 10.19 GJ/metric ton of steel (2023: 9.9 GJ/metric ton of steel).

Energy consumption and mix

Amadeus monitors and reports on its energy consumption across its global operations as part of its commitment to improving energy efficiency and reducing environmental impact.

Energy Consumption Measurement: Amadeus measures energy consumption across its global operations, with direct measurement at the 14 largest sites (representing 68% of total workforce) and estimated consumption for remaining sites based on average consumption factors.

Energy Efficiency Initiatives: As part of its climate commitments, Amadeus has implemented various energy efficiency measures: • Building and operating energy-efficient technology platforms and applications • Optimization of data centers and IT infrastructure • Implementation of energy management systems • Transition to more efficient technologies where possible

Renewable Energy: Amadeus is working towards increasing its use of renewable energy sources as part of its strategy to achieve carbon neutrality by 2025 for Scope 1+2 emissions and its longer-term science-based targets.

Energy Performance Metrics: • Electricity consumption per full-time equivalent worker is tracked as a key performance indicator • This metric is included in executive remuneration schemes, demonstrating the importance of energy efficiency to the company's leadership • Energy efficiency improvements contribute to Amadeus' overall emissions reduction targets

Integration with Climate Strategy: Energy consumption and efficiency are integral components of Amadeus' climate strategy: • Supports achievement of science-based targets for Scope 1 and 2 emissions reduction • Contributes to the goal of carbon neutrality by 2025 • Aligns with the "responsible operations" strategic line of the ESG Ambition

Monitoring and Improvement: Amadeus continuously monitors energy consumption to: • Identify opportunities for efficiency improvements • Track progress against targets • Inform decision-making on technology investments • Support accurate GHG emissions calculations

The company will continue to work on improving energy efficiency and increasing renewable energy use as part of its comprehensive climate action plan.

Energy Consumption and Mix

Own Energy Consumption

BIL's energy consumption includes electricity, natural gas, diesel for backup generators, and fuel consumption for company vehicles. The energy data collection covers BIL Luxembourg, BIL Suisse, and BMI.

Key Initiatives

Renewable Energy Usage BIL's headquarters building is powered by 100% renewable electricity. The renewable electricity consumption for 2024 includes electricity consumption from BIL's headquarters building, some facilities at BIL Suisse, and BMI offices.

Energy Efficiency Measures

• Implementation of energy-efficient LED lighting systems across facilities
• Smart building management systems to optimise heating, ventilation, and air conditioning
• Regular energy audits to identify improvement opportunities
• Promotion of energy-saving practices among employees

Vehicle Fleet Transition BIL continues its transition to electric and hybrid vehicles for its company fleet, contributing to reduced fuel consumption and lower emissions.

*Calculation updated in line with CSRD requirements

Energy consumption

26% Electricity from renewable sources

We procured significant amounts of renewable energy to operate our plants. This site will already be operated using 100% renewable electricity starting 2025 at our new integrated Verbund site in Zhanjiang.

Alternative fuels and Energy

The Group is continuously increasing both the use of alternative fuels, such as biomass and gas, and the proportion of alternative energy sources, including renewables through long-term Power Purchase Agreements (PPAs).

Grey cement

White cement

Other environmental indicators

Energy consumption and mix

Renewable Energy Production

Energy production from renewable sources: 4.71 TWh in 2024, compared to 4.0 TWh in 2023 and 2.6 TWh in 2022.

Installed Renewable Capacity

Installed capacity from renewables at period end: 4.1 GW in 2024, compared to 3.0 GW in 2023 and 2.2 GW in 2022.

Power Generation Activities

Thermoelectric production: 20.16 TWh in 2024, compared to 20.66 TWh in 2023 and 21.37 TWh in 2022.

Power sales in the open market: 26.55 TWh in 2024, compared to 27.30 TWh in 2023 and 30.86 TWh in 2022.

Energy Mix Evolution

The business model supports the commitment to a socially fair energy transition through:

• Gas component as a bridge energy source in the transition, flanked by investments to reduce CO2 and methane emissions
• Renewables through increased installed capacity and integration with the retail business
• Development of technologies for bioplastics and mechanical recycling of used plastics
• Carbon Capture Utilization and/or Storage (CCUS) technologies

Future Energy Capacity Targets

Growth of PLENITUDE's installed renewable energy capacity to 15 GW by 2030, with intermediate target of 10 GW in 2028, more than double the current level.

Technology Integration

Eni's technological progresses and the development of new energy solutions will exploit the vast computational capacity of the new HPC6 supercomputer, which represents an essential lever in all business phases and for achieving the Net Zero goal by 2050. This asset complemented by existing space at industrial sites and electricity supplied by gas-fired power plants decarbonized thanks to CCS.

Energy consumption and mix

Assured by PwC 2024 (limited assurance)

As Hilti operates in high climate impact sectors, the table above disaggregates the Group's total energy consumption from fossil sources.

Energy production and mix

The Group produced 8,405 MWh (2023: 6,708 MWh) of renewable energy via the photovoltaic systems installed globally.

Energy consumption by energy sources

The following table shows KONE's energy consumption disaggregated by source:

Energy consumption

Energy intensity

Energy Consumption and Mix

Energy efficiency initiatives achieved savings of 24 GWh of electricity withdrawals from the grid, mainly thanks to the progressive replacement of SF6 gas with a gas with a lower environmental impact, energy efficiency initiatives and the increase in the share of energy from renewable sources purchased by the network.

We met our short-term target of 100% renewable electricity procurement globally in 2023 with electricity supplier contracts and additional market measures. In 2024, solar power supply started from the Lakari solar plant in Rauma, Finland.

In the medium-term, we will focus on improving energy efficiency and electrification, and in the long-term, our decarbonization actions include scaling new technologies.

Naantali bio-steam boiler: In 2024, a new steam boiler was completed at the Neste Naantali terminal. The new energy facility produces steam for the Naantali terminal heating tanks with a bio-steam boiler using domestic wood chips and recycled wood as an energy source and an electric boiler using renewable energy.

Detailed energy consumption data is provided in the Sustainability data package on pages 37-62.

Energy consumption and mix

While specific detailed energy consumption data is not provided in the available sections, the report indicates:

Renewable energy

• We have achieved over 75% renewable electricity procurement globally
• We are transitioning to renewable electricity across our operations in partnership with Schneider Electric

Energy efficiency initiatives

• We have an active energy management system to optimize energy consumption based on site-specific requirements
• We are implementing initiatives across our operations such as optimizing heating, ventilation and air conditioning
• Upgrading to energy-efficient equipment and improved building insulation

Energy management

We continuously work to optimize our energy consumption through various efficiency measures and the transition to renewable energy sources as part of our commitment to reach net-zero emissions by 2040.

Energy Consumption and Mix

Renewable Energy Generation

Renewable Capacity Growth:

• Renewable generation capacity: 3,659 MW by end of 2024
• 67% increase in renewable wind and solar power production compared to 2023
• Renewable capacity under development: 3,106 MW

Electricity Generation Mix (2024):

• Total electricity generation: 7,785 GWh (vs 8,718 GWh in 2023)
• Renewable generation: 4,597 GWh (vs 2,750 GWh in 2023) - 67% increase
• Combined cycle (natural gas): 2,037 GWh (vs 4,796 GWh in 2023)
• Hydro power: 1,151 GWh (vs 1,172 GWh in 2023)

Installed Operating Capacity

Total Installed Capacity: 5,876 MW in operation (vs 5,006 MW in 2023)

• Renewable capacity (Wind + Solar): 2,966 MW (42% increase from 2023)
• Hydro capacity: Included in total operational capacity
• Combined cycle capacity: Natural gas plants for low-emission baseload generation

Energy Mix Transformation

Multi-Energy Hub Development: "We are turning our industrial complexes into multi-energy hubs, capable of processing all sorts of raw materials and waste to manufacture products with a low carbon footprint."

Technology Neutrality Approach: "Our objective is to capitalize on every opportunity offered by the energy transition. This is why we remain committed to developing different energy sources, such as renewable fuels, hydrogen, biogas, solar and photovoltaic energy. And we are doing so without abandoning our legacy assets, oil and natural gas, making the exploration, production and consumption of these fuels more efficient."

Renewable Fuel Production

Renewable Fuel Capacity:

• 2024: 1.25 Mt/year production capacity
• 2023: 1.00 Mt/year production capacity
• 25% increase in renewable fuel production capacity

Renewable Fuel Infrastructure:

• Started up first plant in Iberian Peninsula (Cartagena) producing 100% renewable diesel and sustainable aviation fuel (SAF)
• Converting Puertollano facility for second renewable fuels plant by late 2025/early 2026

Refining Energy Consumption

Refining Operations:

• Crude oil processed (Spain): 43.3 million tonnes (vs 42.1 million tonnes in 2023)
• Spain conversion refining utilization: 99.5% (vs 100.0% in 2023)
• Spain distillation refining utilization: 88.1% (vs 85.4% in 2023)

Customer Energy Supply

Electricity Sales: 6,735 GWh (vs 4,741 GWh in 2023) - 42% increase

Multi-Energy Customer Solutions:

• 2.5 million electricity and gas customers in Iberia
• Around 2,800 public electric charging points installed
• More than 800 service stations supplying 100% renewable fuel

Alternative Energy Development

Biomethane Platform: Agreement to develop 19 biomethane plants through 40% stake in Genia Bioenergy

Synthetic Fuels: Demo plant in Port of Bilbao for producing synthetic fuels from captured CO2 and renewable hydrogen

Hydrogen Development: Prioritizing production of renewable hydrogen as key to decarbonizing various sectors

Energy Efficiency Indicators

Carbon Intensity: 66.7 gCO₂e/MJ in 2024 (vs 68.6 gCO₂e/MJ in 2023), showing improved energy efficiency

Operational Efficiency: High utilization rates at refining facilities with focus on conversion capacity optimization

Energy Requirements and Renewable Energy

We are rigorously pursuing measures to lower our energy consumption. Wherever economically viable, we are switching our energy supply to renewable sources, which also includes producing power at our own locations. With the planned commissioning of the first development stage of the SALCOS® program, additional electrical energy will be required. Taking account of all relevant parameters in the integrated steelworks, we currently assume that these requirements will amount to around 2.3 TWh in 2027.

To this end, a series of long-dated green power purchase agreements (PPA) have been signed. For 2027, the contractually secured PPA volume for all the Group's major consumers will amount to around 1,200 GWh.

Renewable Energy Goals

The reduction of Scope 2 emissions can only be successful through sourcing power from renewable energies. For this reason, we have plans to source the power for the Salzgitter Group's processes fully from climate-compatible production by 2030.

Moreover, the KHS Group has been using certified green electricity in all its German locations for years and is planning to do so in its international production sites as well.

Energy consumption and mix

Siili has not yet established comprehensive energy consumption reporting systems. As this is the company's first sustainability statement under ESRS, detailed energy consumption data for 2024 is not available.

Siili operates primarily in office environments across multiple countries (Finland, Poland, Germany, USA, Hungary, UK, and Netherlands). The company's energy consumption is primarily related to:

• Office heating, cooling, and lighting
• IT equipment and servers
• Employee devices and workstations

As part of its sustainability program development in 2025, Siili will implement systematic energy consumption monitoring and reporting. This will include establishing baseline measurements and tracking progress toward the company's target of zero Scope 1 & 2 emissions by 2030.

Given the nature of Siili's business as a software development company operating primarily in office environments, the company does not operate in high climate impact sectors and therefore detailed energy intensity metrics by sector are not applicable.

Energy consumption and mix:

Net energy costs represented around €0.7 billion (vs €0.8 billion in 2023). The distribution per region is the following: in Europe (71%) followed by the Americas (19%), and Asia and the rest of the world (10%).

The main energy sources expense are:

• Coke, anthracite, petcoke and coal for 35% (vs 39% in 2023)
• Natural gas (net of steam and electricity sold) for 33% (vs 33% in 2023)
• Electricity for 25% (vs 21% in 2023)
• Steam, hydrogen and biomass for 7% (vs 6% in 2023)

Coal phase out progress: In November 2024, Solvay's plant in Rheinberg, Germany completed its coal phase out and it is now the world's first soda ash plant primarily powered by renewable energy, namely waste wood. Earlier in the year, the coal phase out of Green River, Wyoming, USA, was also completed by adopting natural gas. Another project of coal phase out is underway in Dombasle, France, where coal will be substituted with refuse-derived fuel by the end of 2025.

Switching to renewable or low carbon energy: In 2024 a new biodigester was commissioned in Juarez, Mexico, which substitutes natural gas with biomethane. More projects are underway notably in Collonges, France, where fuel oil will be phased out thanks to a new electric furnace, with an expected start in late 2025, and in Rosignano where by 2026 green hydrogen will be produced, powered by a new solar farm, to be one of the largest in Italy. Moreover, a new project was announced in 2024 to substitute natural gas with biomass in Paulinia, Brazil, with an expected start-up in 2027.

Energy consumption and mix

Energy management approach TKH monitors and manages energy consumption across all operations as part of our commitment to achieving carbon neutrality by 2030. We have implemented energy-saving programs and invested in energy-efficient technologies.

Energy efficiency initiatives

• Implementation of energy-saving programs across all facilities
• Operation in accordance with ISO 14001 environmental management standards
• Optimization of production processes to reduce energy consumption
• Investment in state-of-the-art production facilities with improved energy efficiency

Strategic investments in energy infrastructure

• Completed €200 million strategic investment program including energy-efficient production facilities
• New Eemshaven facility designed with advanced energy management systems
• Consolidation of production operations to improve overall energy efficiency
• €15 million cost-saving measures including energy optimization initiatives

Energy source diversification

• Focus on increasing use of renewable energy sources
• Investment in energy-efficient production equipment
• Regular assessment and optimization of energy consumption patterns
• Integration of energy considerations in facility planning and operations

Energy performance indicators

• High-priority investments resulted in 70.3% reduction of CO2e footprint (scopes 1 and 2) compared to 2019 baseline
• Continuous monitoring of energy consumption across all business segments
• Regular reporting on energy efficiency improvements
• Integration of energy management into operational excellence programs

Future energy planning

• Continued investment in renewable energy sources
• Further optimization of production processes for energy efficiency
• Assessment of opportunities for on-site renewable energy generation
• Integration of energy considerations in strategic investment decisions

Note: Specific quantitative energy consumption data (by source and total consumption) would typically be included here in a complete disclosure, but was not found in the provided report text.

Energy consumption and mix

Total energy consumption

Net primary energy consumption: 156 TWh (operated perimeter)

Energy consumption by operations

Operational energy use: TotalEnergies' energy consumption is primarily related to its industrial operations across the oil and gas value chain, refining, petrochemicals, and power generation.

Energy efficiency initiatives:

• $1 billion energy efficiency improvement plan (2023-2025) achieving 1.5 Mt CO2e/year reduction
• Energy savings of more than $100 million/year generated
• 74% of Exploration & Production assets optimized since 2021
• Nine gas turbines shut down on underutilized assets

Energy mix in operations

Power generation portfolio:

2030 power generation target mix:

• 70% from renewable sources
• 30% from flexible sources (CCGT, storage)

Low-carbon electricity supply initiatives

Go Green initiative:

• European assets: Up to 2.5 TWh/year low-carbon electricity supply from 2025

  • 0.8 TWh/year from operational/construction European renewable portfolio
  • 4.2 TWh/year under development
  • Balance from aggregation trading portfolio

• US assets: Around 1.5 TWh/year renewable electricity

  • Danish and Myrtle assets: ~1 TWh/year
  • Hill project: remainder from 2025
  • Supplying Port-Arthur and La Porte facilities

Impact: This initiative will enable reduction of more than 2 Mt CO2e/year on Refining & Chemicals Scope 2 emissions compared to 2015.

Energy efficiency improvements

2023-2025 Energy efficiency plan:

Specific improvements:

• Normandy refinery: Reforming unit modernization achieving 75 kt CO2e/year reduction
• Heat recovery: Waste heat supply to Le Havre district heating (18 kt CO2e reduction)
• Angola Block 17: Two gas turbines shut down (29 kt CO2e/year, 13 Mm³/year fuel gas savings)
• UK Elgin site: Turbine optimization (15 kt CO2e/year reduction)

Electrification initiatives

Major electrification projects:

Renewable energy production

Renewable electricity generation by geography (2024):