_182 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 4 NON-FINANCIAL STATEMENT Sustainable Development Report ● Key performance indicators tonnes of CO2 in absolute value and in gigajoules per tonne of semi-finished and finished product. REDUCTION IN CO2 EMISSIONS FROM THE MANUFACTURING FACILITIES (millions of tonnes of CO2) Note 1: The above chart covers the Group scope of reporting, including the former Multistrada, Camso and Fenner facilities. Note 2: The baseline year is 2019, in line with the Group’s SBTi commitments. Compared with 2010, the reduction stood at 44.2% in 2023. IMPROVEMENT IN THE ENERGY EFFICIENCY OF THE MANUFACTURING FACILITIES(1) (in Gigajoules per tonne of finished and semi-finished product.) Note 1: The above chart is based on the i-MEP scope of reporting. Note 2: The baseline year is 2019. Compared with 2010, the improvement came to 20.2% for the year. Michelin’s carbon pricing system Since 2016, the Group has incorporated an internal carbon price into its method of calculating return on investment for capital projects undertaken to: ● improve energy efficiency; ● increase production capacity, upgrade heating plants and improve logistics. In 2023, the internal carbon price was increased from €100 from €200 per tonne of CO2. Carbon quota systems In the European Union countries, direct CO2 emissions from the 13 Group facilities that operated heating plants with more than 20 MW capacity in 2023 are subject to allowances issued under the EU’s Emissions Trading Scheme (ETS). With the start of ETS phase 4, free allocations of allowances have fallen sharply, to just 33% of requirements in 2023 from 76% in 2020. Since 2017, the Group has gradually purchased allowances on the market, which are covering returns from the plants and smoothing the related costs. In China, emissions trading schemes were introduced in 2013 in seven cities and provinces. The one in Shanghai, covering an initial three-year period until 2015, is still in effect while waiting for a national system to be introduced. Over the 2013-2023 period, overall emissions from the two plants concerned were covered by the allowances. Created in 2005, the CO2 Allowance Management Committee tracks legislation governing carbon markets and taxes in all of the countries where Group production facilities are located. Comprising specialists in greenhouse gases, energy buying, energy efficiency, finance and accounting, its role is to define CO2 allowance management principles and guidelines, ensure their proper application and conduct the necessary forecasting studies. (1) Until 2020, the energy efficiency indicator was reported per tonne of finished product. With i-MEP, as indicated in the “Scope” section at the beginning of Chapter 4, the performance ratio is expressed per tonne of total manufactured output of both finished and semi-finished products. The 2010 value of total gigajoules per tonne, which was not tracked at the time, has been recalculated and presented here for reference. The recalculation was based on the fact that the proportion of semi-finished products in total output remained relatively constant between 2010 and 2019 and that the energy efficiency programs targeted all forms of energy used in the production plants. -4.4% -20.5% -28.3% -27.5% BASELINE Net zero emissions 2050 2023 2030 target validated by SBTI target submitted to SBTI -47.2% 2030 2022 2021 2019 -0.5% -1.2% -2.2% -24% Baseline 2023 2030 2022 2021 2019
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