04 Sustainability Statement Climate change (E1) 4.2.7 CLIMATE CHANGE MITIGATION POLICIES 4.2.7.1 Environmental and Climate Policy In 2020, the Group expressed its commitment to environmental stewardship by defining and issuing the Michelin Environmental Policy, which is designed to manage pollution risks and draw down the environmental footprint to total neutrality. The policy comprises a number of dedicated sections transposing the objectives and guidelines related to each environmental issue, starting with climate. It is also supported by a separate document defining the procedures for reducing Scope 1 and 2 CO2 emissions from the operations of our production plants. 4.2.7.2 Decarbonization plan The decarbonization plan is designed to meet the 2030 and 2050 targets approved by the SBTi in June 2024 for the entire scope of reporting. In accordance with GHG Protocol guidelines, Scope 1, 2 and 3 inventory is calculated for an overall base corresponding to the Group’s consolidated financial reporting. In alignment with the scope of the SBTi targets, the reporting process covers at least 95% of total Group emissions, based on an inventory covering all the companies in the consolidated scope. n Excluded Scope 1 and 2 emissions accounted for an estimated 2.4% of the Group total(1). n Excluded required Scope 3 emissions (i.e., other than use phase) accounted for an estimated 2.5% of the Group total(2) in 2024. 4.2.8 MITIGATION ACTIONS AND RESOURCES EMBEDDED IN OUR BUSINESS MODEL 4.2.8.1 Rolling resistance, a key differentiating factor at a time of higher tire energy performance standards Using a tire on an internal combustion or electric vehicle requires additional energy that entails either the burning of fuel (and therefore the release of greenhouse gases) or the use of the car's engine battery. Customer expectations for an effective response are growing year by year, with tenders from original equipment manufacturers (OEM) and fleet managers now including specifications in this regard. To meet them, the main lever for action is to reduce tire rolling resistance. 4.2.8.2 Expanding the line-up of EV tires Michelin fully supports the development of electric vehicles, whose weight, engine torque and mission-critical range requirements make them much more demanding on tires. These features heighten the role played by tires in an EV’s overall performance, enabling Michelin to demonstrate once again its technological leadership and exceptionally proficient understanding of usage parameters. All the MICHELIN-brand tire lines may be fitted on EVs, with their Total Performance technology offering owners the longest tread life and highest performance regardless of vehicle type, thanks to the Group’s long years of innovation, investment and cooperation with all the world's leading carmakers. To seize these two opportunities (stricter customer specifications for tire energy performance and expanding the line-up of EV tires), Michelin is focusing on the same response: solutions that improve the energy efficiency of tires and their longevity, either through their design or through services to optimize their use. (1) Scope 1 and 2 exclusions include emissions from (i) wholesale and retail operations other than Euromaster; (ii) the operations of the Michelin transportation company; (iii) the operations of CFF, currently in the process of being acquired; (iv) test runs and trials on Group-owned vehicles; (v) other GHGs such as methane (CH4) and nitrous oxide (N2O); (vi) logistics hubs owned by the Group or for which it has operational control; and (vii) certain office, R&D and other non-industrial sites owned by the Group or for which it has operational control. (2) Scope 3 exclusions concern emissions from the Allopneus, Masternaut, Ihle and Sascar subsidiaries, as well as from all the subsidiaries involved in digital operations. 205 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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