4 _193 2023 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN 4 NON-FINANCIAL STATEMENT Sustainable Development Report 4.1.1.2 Enhancing the circularity of our products SDG 8.4, 9.4, 12.2, 12.4, 12.5, 13.2 and 17.17 Risks related to other impacts of raw materials on the environment (excluding climate change)(1) As the only point of contact between a vehicle and the road, tires play a vital role in road safety. It is made of around 200 different materials, such as elastomers (natural and synthetic rubber), plasticizers and chemicals, that are all essential to delivering performance. Raw material factors, such as their natural or fossil origin, their production or extraction method and pressure from increasing demand can generate environmental impacts, including resource depletion, pollution and/or loss of biodiversity. Inadequate management of these impacts or of the environmental transition may have repercussions for the Group(2). In addition, the emission of tire and road wear particles (TRWP)(3) generated by abrasion during a tire’s in-use phase can also have an impact on the environment. Through a policy of continuous innovation, focused on sustainable mobility, Michelin is making every effort to conserve resources and attenuate the adverse environmental impact of its products throughout their life cycle. This policy is grounded in eco-design practices, the use of life cycle assessments, and the deployment of a circular economy approach known as Michelin 4R. 4.1.1.2 a) Incrementing the use of renewable or recycled materials In 2023, following the annual meeting with the External Stakeholders Committee, the Group decided, in line with the Committee’s recommendation to use clearer, more precise vocabulary, to replace the term "sustainable materials" with “renewable or recycled materials.” Renewable materials(4) are made from raw materials derived from natural resources that are naturally replenished on a human timescale, such as biomass. This excludes fossil fuels like oil, natural gas and coal, as well as minerals. Recycled materials(5) are made from raw materials or feedstocks recovered from industrial or household waste that has been reprocessed into products, materials or substances. Recycling does not include energy recovery or the reprocessing into materials that are to be used as fuels. Similarly, the reuse in a production process of its own wastage is not counted as recycling, as the material is not actually waste at this stage. OUR OBJECTIVE: The Group’s ambitious objective is to manufacture its tires entirely from renewable or recycled materials by 2050, backed by a commitment to incorporating an average of 40% renewable or recycled materials by 2030. This commitment is measured by the renewable or recycled materials ratio. THE RENEWABLE OR RECYCLED MATERIALS RATIO The ratio stood at 28% in 2023, down two points on 2022. As output declined during the year, there was a concomitant reduction in the quantity of raw material inputs, particularly natural rubber. This trend was accentuated by the steeper falloff in the production of Truck tires, which, along with specialty tires, use more of this renewable material than passenger car tires. (1) See section 4.1 Sustainable Development Report/Challenges and performance/Materiality matrix. (2) In respect to the policy and legal, technology, market and reputational aspects defined in the Task Force on Climate Related Financial Disclosures (TCFD) nomenclature. (3) See section 2.1 Risk factors specific to Michelin, description and related management systems/Impact 7 – Environmental effects of our products. (4) As defined by the OECD and the American Chemical Society in “12 Principles of Green Chemistry.” (5) As defined in European Directive 2008/98/EC on waste. 28% 28% 29% 30% 40% 100% 2050 2030 2023 2022 2021 2019
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